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RESOLUTION NO. 1055.
A RESOLUTION OF THE CITY COUNCIL 'OF THE CITY OF ARCADIA
APPROVING THE REPORT Of<' THE CITY ENGINEER OF SAID CITY IN THE J.IATTER
OF THE PROPOSED IMPROVEMENT OF SIXTH AVENUE AND OF CA.'I1INO REAL IN SMD
CITY BY PROVIl)ING FOR THE ISSUJ.1fCE AND MATURITY OF AND RATE OF INTEREST
UPON BONDS TO BE ISSUED TO REPRESENT UNPAID ASSESSLffiNTS FOR SAID PROPOSED
II;:PR CVEI,IENT.
THE CITY COUNCIL OF THE CITY OF ARCADIA DOES RESOLVE AS
FOLW:S:
SECTION 1. ITHEREAS, there has been prepared by the City En~ineer
a report pursuant .~o the provisions of Section 3 of an Act of the LeGis-
lature of the Stat'3 of California, desi~nated as " Special Assessment,
Investigation, Lim:ltation o.nd j;Tajority Protest Act of 1931" as amended,
in the matter of the proposed improvement of Sixth Avenue and of Camino
Real, in the City of Arcadia, and
~H~EAS~ said report reflects that assessment No. 154 in said
report exceeds the debt limitation as prOvided in Section 10 of the above
mentioned Act of sElld State Le~islature, and
VIIf',;REAS, said assessment l:o. 154 pertains to a parcel of land
~hich is only-a small portion of a larGer parcel of land held by the
same owner lying o1.:.tsiC'.e of the corporHte limits of the City of Arcadia,
and therefore olltside the assessment district,
NOW, THEREFORE, BE IT RESc'L'iED, that the proposed project is
feasible and that the lands to be assessed will be ahle to carry the
burden of such proposed assessment, and
BE IT FURrHER ~ESOLYED, that said report prepared by the
City Engineer, pursuant to the provisions of said Act of the State
Le(lislatu::e!,. be and the same is hereby approved.
SECTION 2. That serial bonds bearins interest at the
rate of six (6%) pe~ cent per annum and extendinG over a period
ending nine (9) yea~s from the second day of January next succeedin(l
the next October 15th following their date, 1'1111 be issued in the
mal1.ner provided by the "Improvement Act of 1911", approved April 7,
1911, as amended, to represent each assessment of t-.7el1ty five ((~25.00)
dollars, or more, rElmdnin~ tonpaid for thirty (30) days after the c1ate
of the \'!arran t at tached to the
assessment to be hereafter levied under
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these proceedinGs.
SECTION 3. That the above mentioned report be filed with
the Clerk of this Council. That Tuesday, the 1st day of October, 1940,
at the hour of eiGht olclock, P.i;., and the Council Chamber in the City
Hall in the City of Arc3dia, are hereby fixed as the time and place of
hearin~ by the City Council on said report. The Clerk of this City Council
is hereby directed to .:;ive notice of said hearinG in the manner and form
required by Section 6 of said "Special Asseso~ent, Investi~ation, Limitation
and Majority Protest Act of 1931", as amended.
SECTION 4.. The Oity Clerk shall certify to the adoption of
this Resolution.
I hereby ee,.,tify that the fore~oinB Resolution was adopted
at a
re~u1ar
meetinG of the City Council of the City of Arce.dia,
held on the 20th day of
August
, 1940, by the affirmative vote of at
least three Councilmen, to-wit:
AYES: Councilmen, Adcock, Bolz, Leeper, Ormsby and Perkins
NOES:
NOlle
ABSENT: None
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City Clerk
Signed and approved this 20th day of
August
, 1940.
~v:GlL:~~
Mayor
ATTES'll~
C ty
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