HomeMy WebLinkAboutRES-96-5837 (BONDS/ISSUANCE/PIER AVE ASSESSMENT DISTRICT)1
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RESOLUTION NO. 96-5837
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF HERMOSA BEACH,
CALIFORNIA, AUTHORIZING THE ISSUANCE OF BONDS IN CONNECTION WITH
THE LOWER PIER AVENUE ASSESSMENT DISTRICT
THE CITY COUNCIL OF THE CITY OF HERMOSA BEACH DOES HEREBY FIND,
DETERMINE, RESOLVE AND ORDER AS FOLLOWS:
Section 1. The City Council, by its Resolution No. 96-5811, as amended, (the
"Resolution of Intention") declared its intention to order improvements, including the installation
and construction of street improvements and street -related improvements in the proposed Lower
Pier Avenue Assessment District pursuant to the provisions of the Municipal Improvement Act of
1913, Division 12 of the Streets and Highways Code, commencing with Section 10000, (the "1913
Act") and by such Resolution of Intention, the City Council provided that serial bonds, term bonds,
or both, would be issued thereunder pursuant to the provisions of the Improvement Bond Act of
1915, Division 10 of the Streets and Highways Code, commencing with Section 8500 (the "1915
Act")
Section 2. On October 22, 1996, after conducting a duly noticed public meeting
and public hearing, the City Council adopted its Resolution No. 96-5836, ordering the construction
of the proposed improvements, confirming the proposed assessment against parcels within the
Assessment District, and directing the City Clerk to record the assessment and to provide notice of
the recordation of the assessment, including notice of the 30-day cash collection period, in
accordance with Section 10404 of the 1913 Act.
Section 3. The City Council hereby authorizes the issuance of limited obligation
improvement bonds under and pursuant to the 1915 Act to represent assessments remaining unpaid
at the expiration of the 30-day cash collection period.
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Section 4. This Resolution shall take effect immediately upon adoption.
PASSED, APPROVED and ADOPTED this 22nd day of October, 1996.
of t�ity Council and MAYOR of the City of Hermosa Beach, California
IATTEST:
City Clerk 7�
APPROVED AS TO FORM.
J(
City Attorney
-2-
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES
CITY OF HERMOSA BEACH
I, Elaine Doerfling, City Clerk of the City of Hermosa Beach, California,
do hereby certify that the foregoing Resolution No. 96-5937 was duly and
regularly passed, approved and adopted by the City Council of the City of
Hermosa Beach at a Regular Meeting of said Council at the regular place thereof
on October 22, 1996.
The vote was as follows:
AYES: Benz, Bowler, Edgerton, Reviczky, Mayor Oakes
NOES: None
ABSTAIN: None
ABSENT: None
Dated: October 23, 1996
Elaine Doerfling, City Cl