HomeMy WebLinkAboutReso 7-1996 i RESOLUTION NO. 7-96
CITY COUN'C~,L, CITY OF SOUTH s/~q' FR/~CISCO, STATE OF CALIFORNIA
A RESOLUTION DECLARING SURPLUS FUNDS IN THE
CABOT, CABOT & FORBES INDUSTRIAL PARK
ASSESSMENT DISTRICT UNIT NO. 3 AND APPLYING
THE SURPLUS FUNDS TO DELINQUENCIES AT THE
WIND HARP PARCRI. (APN 015-250-100)
RRCITALS
WHEREAS, the City of South San Francisco ("City") issued
special assessment bonds pursuant to the Improvement Bond Act of
1915 as authorized by the Municipal Improvement Act of 1913; and
WHEREAS,I the assessments were levied to pay the cost of
public improvements in the Cabot, Cabot & Forbes Industrial Park
Unit No. 3 Assessment District ("CC&F No.3"); and
WHEREAS, surplus funds remain in the CC&F No. 3 account
after the public improvements have been completed and the bond
holders paid; and
WHEREASi the Municipal Improvement Act of 1913 provides the
procedure to!declare amounts as surplus and directs the
disposition of the surplus to limited purposes, including
crediting assessments; and
WHEREAS, the Wind Harp parcel, APN 015-250-100, is located
within the CC&F No. 3 District and has a deficiency in the amount
of Six Thousand Three Hundred and Ninety-Nine Dollars and Ninety
Cents ($6,399.90.) in the CC&F No. 3 account.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of Soutk San Francisco that the Cabot, Cabot & Forbes
Industrial Park Unit No. 3 Assessment District has surplus funds
in the amount of Six Thousand Three Hundred and Ninety-Nine
Dollars and ~inety Cents ($6,399.90.); and
BE IT F%~THER RESOLVED by the City Council of the City of
South San Francisco that such surplus shall be applied to the
delinquency of the same amount at the Wind Harp parcel, APN 015-
250-100, for the Cabot, Cabot & Forbes Industrial Park Unit No. 3
Assessment District.
I hereby certify that the foregoing Resolution was regularly introduced and adopted by
the City Council 0f the City of South San Francisco at a ro§ul ar'
meeting held on the 10th day of danuary , 1996, by the following
vote:
AYES:
NOES:
ABSTAIN:
ABSENT:
Cmncilmembers
Robert Yee and
None.
None
None
Joseph A. Fernekes,
Mayor Jack Drago
Eugene R. Mullin, John R. Penna,
City
405\reao\windharp.3