HomeMy WebLinkAboutCC Resolution 4463RESOLUTION NO. 4463
RESOLUTION ESTABLISHING POLICY IN THE MATTER OF
FORECLOSURE OF DELINQUENT ASSESSMENTS AND AUTHOR-
IZING CITY ATTORNEY -.ND SPECIAL BOND COUNSEL TO
EXECUTE SUCH PROGRAM IN 1915 ACT BOND ISSUES IN
THE CITY OF SAN R_AFAEL, MARIN COUNTY, CALIFORNIA
WHEREAS, the City Council of the City of San Rafael, Marin
County, California, has authorized the use of bonds issued under the
Improvment Bond Act of 1915 to finance the construction of certain
public improvements located in the City of San Rafael; and
WHEREAS, the use of said bonds results in a substantial
savings to the property owners assessed for the cost of said public
improvements; and
WHEREAS, delinquencies in the payment of said assessments
has arisen in the East San Rafael Drainage Assessment District No. 1;
and
WHEREAS, the City of San Rafael may authorize the use of
said bonds in other areas, which could result in delinquencies; and
WHEREAS, the City of San Rafael has a liability to advance
funds to cover said delinquencies pending foreclosure of the delinquent
assessments;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of San Rafael, as follows:
1. That it is the finding of the City Council of the City
of San Rafael that it is in the best interests of the City to institute
a program of prompt foreclosure of delinquent assessments securing the
payment of bonds under the Improvement Bond Act of 1915.
2. That the City Attorney and the firm of Sturgis, Den -bulk,
Douglass & Anderson, Special Bond Counsel to the City of San Rafael,
are hereby authorized and directed to institute a program of prompt
foreclosure of said delinquent assessments.
URIGINRL -1
3. That said program shall include at least a thirty (30)
day notice to property owners of intention to foreclose and providing
a time by which payment of delinquencies must be made in order to
avoid foreclosure proceedings.
4. That the costs of such legal services shall be borne
by the properties against which foreclosure proceedings are filed.
5. That where proceedings provide funds for the advancei
of monies by the City to cure delinquencies, such funds may also be
utilized to advance the costs of legal expenses incurred in said
foreclosure proceedings.
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I HEREBY CERTIFY that the foregoing Resolution was duly
and regularly adopted by the City Council of the City of San Rafael,
Marin County, California, at a regular meeting thereof, held on the
16th day of April, 1973, by the following vote, to wit:
AYES: Councilmen Jensen, M i sk i men Mu 1 rYan and Mayo Bett i n i
NOES: Councilmen. None
ABSENT:
Councilmen: None
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MARION A. GRADY, City Clerk,
City of San Rafael, County of
Marin, State of California
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RENEE BURDISSO - Deputy City Cl,@tk