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Res87 10463
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Res87 10463
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Last modified
10/11/2019 1:46:42 PM
Creation date
10/11/2019 1:46:41 PM
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Template:
CC Index
CC Index - Document Type
Resolution
Date
3/23/1987
Description
0 4 6 3 MAR 2 3 1981 A RESOLUTION OF INTENTION TO LEVY REASSESSMENTS AND TO ISSUE REFUNDING BONDS UPON THE SECURITY THEREOF CITY OF REDWOOD CITY Seaport Centre Assessment District Improvement Bonds (Reassessment and Refunding of 1987) RESOLVED, by the City Council of the City of Redwood City (the "City"), County of San Mateo, California, that:
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<br />cost of the reassessment and of issuing the refunding bonds, including all costs of <br /> <br />issuing the refu~ding bonds, as defined by subdivision (a) of Section 9600 of the <br />Act. <br /> <br />(c) The auditor's record kept pursuant to Section 8682 of the California <br /> <br />Streets and Highways Code showing the schedule of principal installments and <br /> <br />interest on all unpaid original assessments and the total amounts thereof. <br /> <br />(d) The estimated amount of each reassessment, identified by <br /> <br />reassessment number corresponding to the reassessment number of the <br /> <br />reassessment diagram, together with a proposed auditor's record for the <br /> <br />reassessment prepared in the manner described in said Section 8682. <br /> <br />(e) A reassessment diagram showing the assessment district and the <br /> <br />boundaries and dimensions of the subdivisions of land within the district. Each <br /> <br />subdivision, including each separate condominium interest as defined in Section <br /> <br />783 of the Civil Code, shall be given a separate number upon the diagram. <br /> <br />When any portion or percentage of the costs and expenses of said refunding and <br /> <br />reassessment is to be paid from sources other than reassessments, the amount of such <br /> <br />portion or percentage shall first be deducted from the total estimated cost and expenses <br /> <br />of said refunding and reassessment, and said reassessments shall include only the <br /> <br />remainder of the estimated cost and expenses. <br /> <br />5. If any excess shall be realized from the reassessment it shall be used, in such <br /> <br />amounts as this Council may determine, in accordance with the provisions of law, in a <br /> <br /> <br />manner or manners to be provided in these proceedings. <br /> <br />6. Notice is hereby given that serial bonds to represent said reassessments, and <br /> <br />bear interest at the rate of not to exceed twelve percent (12%) per annum, or such higher <br /> <br />rate of interest as may be authorized by applicable law at the time of sale of such bonds, <br /> <br />-3- <br />
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