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HomeMy WebLinkAbout4459 " RESOLUTION NO. 4459 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ARCADIA DETERMINING THAT THE PAY- MENT OF CERTAIN ASSESSMENTS UNDER THE IMPROVEMENT ACT OF 19l1 MAY BE MADE IN ANNUAL INSTALLMENTS (VARIOUS LOCATIONS). WHEREAS, certain street improvements at various locations in the City of Arcadia have been made pursuant to the Improvement Act of 19l1 and the costs thereof will be assessed against the property adjacent to the improvements pursuant to Resolution No. 4458; and WHEREAS, it is desirable to provide for payment of any unpaid assessments in annual installments; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF ARCADIA RESOLVES that the assessments set forth in Resolution No. 4458 may be made in ten equal annual installments of principal plus interest on the unpaid balance at the rate of seven percent (7%) per annum, said interest to commence on the thirty-first day after the confirmation of the assessments by the City Council and the first installment of principal and interest shall be due and payable one (1) year after said confirmation. The unpaid balance with interest may be paid at any time without penalty. The City Clerk shall certify to the adoption of this resolution. I HEREBY CERTIFY that the foregoing resolution was adopted at a regular meeting of the City Council of the City of -l- 4459 . Arcadia held on the lst day of October , 1974, by the affirmative vote of at least three Councilmen, to wit: AYES: Councilmen Gilb, Helms, Lauber, Saelid and Scott NOES: None ABSENT: None ~~ ~cM1~~~ City Clerk of the City of Arcadia SIGNED AND APPROVED this 1st day of October , 1974. ~~ '?~ Mayor of the CIty of ArcadIa ATTEST: &~~5t~ City Clerk (SEAL) -2- 4459