HomeMy WebLinkAboutReso 5298-1970 RESOLUTI£ N NO. 5298
A RESOLUTION AUTHORIZING LOAN TO SPECIAL FUND
IMPROVEMENT OF 12 MILE CREEK
ASSESSMENT DISTRICT
RESOLVED, by the City Council of the City of South
San Francisco, California, that
WHEREAS, the City has heretofore made and entered into
an agreement with the County og San Mateo for the construction
of storm drainage facilities and the improving of existing
drainage facilities from the i.~tersection of West Orange
Avenue and Camaritas Avenue easterly to and across E1 Camino
Real and continuing easterly to Colma Creek, a portion of
which said improvement lies within area under the Jurisdiction
of the City of South San Francisco, pursuant to which City
is obligated to make certain payments to the County represent-
ing its share of the cost of the improvement;
WHEREAS, the City has initiated proceedings pursUant to
ReSolution of Intention No. 5293 , adopted May 4 , 1970,
for financing a portion of said City cost through Special
·
assessment and assessment bond proceedings against properties
benefited by a local improvement portion of said proposed
drainage improvements;
WHEREAS, under the terms of said .agreement, th® city is
obligated to advance certain sums at certain times, and is
authorized, pursuant to Sectior. lOR10 of the Streets and
Highways Code to make loans to assessment proceedings repay-
able out of the proceeds of assessments and sale of assessment
bonds when available;
NOW', THEREFORE, IT IS ORDERED, that any funds paid by
'the City to the County pursuant to said agreement, prior to
the availablity of the proceeds of assessments and sale of
assessment bonds in said assessment proceedings, shall be
deemed a loan to the special f~nd to be created in said
special assessment proceedings and shall be repaid out of the
proceeds of assessments and sale of assessment bonds when
available, all pursuant to Section lO210 of the Streets and
Highways COde°
I hereby certify that the foregoing resolution was regularly intro-
duced and adopted by the City Council of the City of South San Francisco
at a regular meeting held this 4th day of May, 1970, by the following
vote:
AYES, CO~NCIL~ Patrick E. Ahem, Frank J. Bertucelli, William A.
Borba, F. Franc Mammtni and Warren Steinkamp
NOES, " None
ABSENT, " None