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<br />SWC:sh 9/10/84 <br /> <br />ORIGINAL <br /> <br />RES 0 L UTI 0 N <br /> <br />N o. 9 69 6 <br /> <br />OCT 1 1984 <br /> <br />RESOLUTION APPROVING THE REMOVAL OF FOUR ON-STREET <br />PARKING METERS FROM THE CENTRAL BUSINESS DISTRICT <br /> <br />WHEREAS, pursuant to Resolution No. 1894 approved by the <br /> <br />City Council July 11, 1955, the City agreed that it would install <br /> <br />and maintain and continue to maintain parking meters on the <br /> <br />street within the Central Business District of the City, for the <br /> <br />purpose of providing revenues for street meter maintenance and <br /> <br />operation, and bond interest and redemption of Parking District <br /> <br />No. 1 bonds; and <br /> <br />WHEREAS, pursuant to Section 35706 of the Streets and <br /> <br />Highways Code, a City may, after noticed public hearing, remove <br /> <br />such meters as the City Council determines are no longer <br /> <br />necessary for use as public parking places; and <br /> <br />WHEREAS, Home Savings of America requested that the City <br /> <br />approve the removal of four on-street parking meters which has <br /> <br />enabled it to reconstruct its office at 2300 Broadway; and <br /> <br />WHEREAS , City staff has advised that the removal of said <br /> <br />meters has been and will be a benefit to the public safety; and <br /> <br />WHEREAS, Home Savings has agreed to reimburse the Parking <br /> <br />District No. 1 in the amount of Two Thousand One Hundred Sixty <br /> <br />Seven and 20/100 ($2,167.20), which is the maximum amount of <br /> <br />revenues which would be derived from the meters as of the date of <br /> <br />bond redemption; and <br /> <br />9696 <br />