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RESOLUTION NO. 5442
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ARCADIA,
CALIFORNIA, DETERMINING THAT THE PAYMENT OF CERTAIN
ASSESSMENTS UNDER THE IMPROVEMENT ACT OF 1911 MAY BE
MADE IN ANNUAL INSTALLMENTS (NAOMI AVENUE)
WHEREAS, certain street lighting improvements at various locations
in the the City of Arcadia have been made pursuant to the Improvement Act of
1911 and the costs thereof will be assessed against the property adjacent to
the improvements pursuant to Resolution No. 5443; 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,
CALIFORNIA, DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. That the assessments set forth in Resolution No. 5443
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.
SECTION 2. The City Clerk shall certify the adoption of this
Resolution.
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5442
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Passed, approved and adopted this 6th day of September, 1988.
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Mayor of the Clty of Arcadla
ATTEST:
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ler~ of the y 0 Jl.rcadia
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES) SS:
CITY OF ARCADIA )
I, JUNE D. ALFORD, City Clerk of the City of Arcadia, hereby
certify that the foregoing Resolution No. 5442 was passed and adopted by the
City Council of the City of Arcadia, signed by the Mayor and attested to by
the City Clerk at a regular meeting of said Council held on the 6th day of
September 1988, and that sa i d Reso 1 ut ion was adopted by the
following vote, to-wit:
AYES:
NOES:
ABSENT:
Councilmember Chandler, Lojeski and Harbicht
None
Councilmember Gilb and Young
Ci~f~h~'"
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5442