HomeMy WebLinkAboutCC Resolution 7394 (Kerner Blvd Assessment District)RESOLUTION NO. 7394
RESOLUTION OF INTENTION TO CONDUCT REASSESSMENT PROCEEDINGS
IN THE KERNER BOULEVARD REFUNDING ASSESSMENT DISTRICT
The City Council of the City of San Rafael resolves:
This City Council hereby determines that the public
interest or necessity requires the refunding of all outstanding
bonds previously issued as -Series No. 1984-1 and as Series
No. 1985-1, Kerner Boulevard Assessment District, City of San
Rafael, Marin County, California. This City Council hereby
declares its intention to refund said outstanding bonds and to
levy reassessments pursuant to the Refunding Act of 1984 for
1915 Improvement Act Bonds (the "Act") as security for said
refunding bonds.
This City Council hereby directs OBERKAMPER &
ASSOCIATES to prepare and file with the City Clerk of the City
of San Rafael a written report containing each of the items
specified by Section 9523 of the Act.
Serial bonds representing unpaid reassessments, and
bearing interest at a rate not to exceed twelve percent (12%)
per annum, will be issued in the manner provided by the Act, and
the last installment of the bonds shall mature September 2,
2005.
The procedure for the collection of reassessments and
advance retirement of bonds under the Act shall be as provided
in Part 11.1, Division 10, of the Streets and Highways Code of
the State of California.
The amount of any surplus remaining after completion
of the refunding shall be transferred to the reserve fund for
the refunding bonds.
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I, JEANNE M. LEONCINI,-Clerk of the City of San
Rafael, California, hereby certify that the foregoing resolution
was duly and regularly introduced and adopted at a regular
meeting of the Council of said City held on the 21st day of
July, 1986, by the following vote, to wit:
AYES: COUNCILMEMBERS: Breiner, Frugoli, Nave,, Russom & Mayor Mulryan
NOES: COUNCILMEMBERS: None
ABSENT: COUNCILMEMBERS: None
JE Ii M. LEONCIgI� City Clerk