HomeMy WebLinkAboutReso 5506-1971 RESOLUTION NO. 5506
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A RESOLUTION AUTHORIZING LOAN TO SPECIAL FUND
EL CAMINO REAL SIDEWALK PROJECT
(Arroyo to Chestnut)
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 State of California for the improving of
State Highway Route 82 (El Camino Real) to a Six-lane divided
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highway between one-tenth of a mile south of Chestnut Avenue
to one-tenth of a mile north of Arroyo Drive in South San
Francisco, within a minimum 120-foot width right of way, 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 State representing
its share of the cost of the improvement;
WHEREAS, the City has initiated proceedings pursuant to
Resolution of Intention No. 5502 , adopted March I , 1971,
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 high-
way improvement;
WHEREAS, under the terms of said agreement, the City is
obligated to advance certain sums at certain times, and is
authorized, pursuant to Section lO210 of the Streets and High-
ways Code, to make loans to assessment proceedings repayable
out of the proceeds of assessments and sale of bonds when
available;
NOW, THEREFORE, IT IS ORDERED, that any funds paid by the
City to the State, pursuant to said agreement prior to the avail-
ability of the proceeds of assessments and sale of assesSment
bonds in said assessment proceedings, shall be deemed a loan to
the special fund to be created in said special assessment pro-
ceedings 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 'Ist day of March, 1971, by the following
vote-
AYES, COUNCILMEN
NOES,
ABSENT,
Patrick E. Ahern, Frank J. Bertucelli, William A.
Borba, F. Frank Mammini and Warren STeinkamp
None
None
ATTEST: