HomeMy WebLinkAboutReso 2487-1957RESOLUTION NO. '2487
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SOUTH SAN
FRANCISCO PROVIDING FOR ACCEPTANCE OF FINAL PAYMENT FROM
HOUSING AUTHORITY OF THE CITY OF SOUTH SAN FRANCISCO WITH
RESPECT TO THE LATTER'S OPERATION OF THE LINDENVILLE HOUSING
PROJECT, AND PROVIDING FOR THE EXECUTION OF A RECEIPT AND
A FULL AND COMPLETE RELEASE
WHEREAS, commencing with the 1st day of May 1954, the Housing Authority of the City
of South San Francisco has operated, for the benefit of the City of South San Francisco, that
certain Federal housing project officially known as "Lindenville-Cal-4134", but commonly
known as the "Lindenville Housing Project"; and
WHEREAS the operation of said Federal housing project by said Housing Authority was
discontinued as of the 30th day of April 1957; and
WHEREAS said Housing Authority is now prepared to render to the City of South San
Francisco a final accounting with respect to its operation of said Federal housing project and,
in conjunction therewith, to pay to said City the net revenues remaining on hand after all
expenses and obligations incurred in connection with the operation of said Federal housing
project have been paid in full; and
WHEREAS, aCcOrding to a certified audit prepared by Charles Ledwith, a certified
public accoUntant, the total net revenue derived from the operation of the Lindenville Housing
Project for the three (3)-year period comencing with the 1st day of May 1954 and concluding on the
30th?~ay ofApril/1957,;as.aforesaid',: iSlin'the.'Su~'Of ONE~iHUNDRED SEVENTY-NINE THOUSAND~FiVE
HUNDRED. NtNETY-EIGHT a. nd. 65/100 DOLLAP~ ($179,598:~6~)., of WhiOhlthere;;waSheretoforePaidto said
City .the 'su~ of THIRTY'EIGHT:THOUSANDEIGHT HUNDRED EIGHTY-TWO and 82/100 DOLLARS ($38,882.82); and
WHEREAS said Housing Authority is now offering to pay to said City the unpaid balance
of the aforesaid sum of ONE HUNDRED S~ENTY-NINE THOUSAND.FIVE HUNDRED NINETY-EIGHT nad 65/100
DOLLARS ($179,598.65), which balance is in the a~ount of ONE HUNDRED FORTY THOUSAND SIX HUNDRED
THIRTY-NINE and 06/100 DOLLARS ($140,639.06),
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of South San Francisco
as follows:
1. That said City CounciI does hereby approve and accept the certified audit per-
taining to ~he South San Francisco Housing Authority's operation of the Lindenville Housing
Project, which audit was prepared by Charles Ledwith, a certified public accountant.
2. That the sum of ONE HUNDRED FORTY THOUSAND SII HUNDRED THIRTY-NINE and 06/100
DOLLARS ($140,639.06) be accepted from said Housing Authority as the final payment of the net
revenues derived from the operation of said Lindenville Housing Project.
3. That a receipt be issued for said sum of ONE HUNDRED FORTY THOUSAND SlX HUNDRED
THIRTY-NINE and 06/100 DOLLARS ($140,639.06) and that said Housing Authority be given a full
and complete release with respect to its operation of said Lindenville Housing Project, said
receipt and release to be executed on behalf of said City by its Mayor, and attested to by its
City Clerk.
4. That a certified copy of this resolution be forwarded to the Housing Authority
of the City of South San Francisco.
I hereby certify that the foregoing resolution was regularly introduced
and adopted by the City Council of the City of South San Francisco at
a special meeting held this 24th day of May 1957, by the following vote:
AYES, Councilmen G. J. Rozzi, Andrew Rocca, Emilio Cortesi and
Leo J. Ryan
NOES, None
ABSENT:Councilman Francis Lucchio
ATTEST:
Arthur A. Rodondi
City clerk