HomeMy WebLinkAbout86-61 - ResolutionsRESOLUTION NO. 86-61
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RAMCRO
CUCAMONGA, CALIFORNIA, MAKING PRELIMINARY DETERNINATIONS
A~D DECLARING INTENTION TO ISSUE REFUNDING BONDS FOR A
SPECIAL ASSESSMENT DISTRICT, AND ORDERING A REPORT THEREON
WHEREAS, the City Council of the City of Rancho Cucamonga,
California, did previously undertake proceedings and confirm assessments in a
special assessment district pursuant to the terms and provisions of the
"Municipal Improvement Act of 1913", being Division 12 of the Streets and
Highways Code of the State of California, said special assessment district
known and designated as ASSESSMENT DISTRICT NO. 82-1 {hereinafter referred as
the "Assessment District"); and
WHEREAS, improvement bonds representinq the unpaid assessments within
said Assessment District were i4'sued a~d sold in the manner provided in the
"Improvement Bond Act 1915", being Division 10 of the Streets and Highways Code
of the State of California and,
WHEREAS, at this time, the City is desirous of initiating proceedings
to refund outstanding improvement bonds pursuant to the "Refunding Act of 198~
for 1915 Improvment Act Bonds", being Division 11.5 of the Streets and Highways
Code of the State California, said refunding bonds and district to be
designated as
ASSESSMENT DISTRICT NO. 82-1R
( REFUNDING )
(hereinafter referred to as the "Refunding District").
NO~, THEREFORE, IT IS HEREBY RESOLVED AS FOLLOWS:
SECT10B 1: That the foregoing recitals are all true and correct.
SECTloB 2: The public interest and necessity require, and it is the
intention of this body, pursuant to the provisions of Division 11.5 of the
Streets Highways Code of the State of California (the "Refunding Act of 1984
1915 Improvement Act Bonds"), to refund all outstanding improvement bo for the
Assessment District and to levy reassessments as security for such refunding
bonds, and to issue refunding bonds as authorized by law.
SECTloB 3: That this proposed refunding is hereby referred to
WILDAN ASSOCIATE2, who is hereby directed to make and file a "Report" in
writing containing the following:
A schedule setting forth the unpaid principal and
interest on the improvement bonds of the original
Assessment District to be refunded and the total
amounts thereof.
BO
A total estimated principal amount of the reassessment
and of the refunding bonds and the maximm interest
rate thereon, together with estimate of costs of the
reassessment and of issuing the refund bonds,
including all costs of issuing the refunding bonds;
The Auditors Record showing the schedule of the
principsl installments and interest on all unpaid
oriqinal assessments and the total amounts thereof.
De
The estimated amount of each reasseesment, identified
by reassessmenC number corresponding to the
reassessment number on the reassessment diagram,
together with a proposed Auditors Record for the
reassessment.
Resolution No. 86-61
Page 2
A reassessment diagram showing the Refunding District
and the boundaries and dimensions of the subdivisions
of land within the Refunding District.
SECTION 4: Immediately upon the final preparation of the "Report" as
above ordered, said "Report" shall be filed with the Cit7 Clerk and presented
to thi legislative body for further consideration as it relates to proceeding
to issue refunding bonds for said Refunding District.
SECTION 5: All outstanding bonds and original assessments of the
Assessment District shall continue and remain in full force and effect and be
secured by the origins1 assessments until superceded and replaced by
reassessments and refunding bonds validly and legally issued for the Refunding
District pursuant to all the terms and provisions of the "Refunding Act of 198
for 1915 Improvement Act Bonds".
PASSED, APPROVED, and ADOPTED this 5th day of March, 1986.
AYES: Wright, Buquet, MikeIs, Dahl, King
NOES: None
ABSENT: None
ATTEST:
Beverly_ A, Autb~let, City Clerk
Debra Ada~, Deputy
I, BEVERLY A. MITERLET, CITY CLERK of the City of Rancho Cucamonga,
California, do hereby certify that the foregoing Resolution was duly passed,
approved, and adopted by the City Council of the City of Rancho Cucamonga,
California, at a regular meeting of said City Council held on the 5.tb.day of
March, 1986.
Executed this 6tb day of March, 1986 at Rancho Cucamonga, California.
Beverly A. Autbelet, City Clerk
Debra Ariaroe, Deputy