HomeMy WebLinkAboutCC Resolution 27691 ,7
RESOLUTION NO. _rJ
RESOLUTION RELATIVE TO MARIN BAY ASSESSMENT
DISTRICT NO. ONE, DIRECTING PAYMENT OF CONTRACT
PRICE RETAINED AND REPAYMENT FROM ANTICIPATED
FUTURE SURPLUS OF MONIES ADVANCED
WHEREAS, heretofore and on the /J' 7G` day of
1962, upon request of LATIPAC-PERINI COMPANY, certain funds of
MARIN BAY ASSESSMENT DISTRICT NO`. ONE, which were represented
to be surplus funds, were, by this Council, ordered distri-
buted or credited to the benefit of the property owners
within said District as shown on the Assessment Roll for said
properties for the tax year 1962-63, and said funds were actually
so distributed or credited, and
WHEREAS:, it has since developed that the UNITED STATES
FIRE INSURANCE COMPANY, as bondsman for W. R. GRAIL, the
contractor in the construction of the sewage treatment plant
for said District, had and now has a bona fide claim against
said alleged surplus funds in the sum of $14,146.75, represent-
ing a part of the contract price retained by the District, and
said Assessment District is now without funds with which to
honor and pay this claim, and
WHEREAS, LATIPAC-PERINI COMPANY, as a property owner
within said Assessment District, received distribution or
credit for approximately seventy per cent of said accumulated
funds represented and believed to be surplus monies of said
Assessment District and so distributed and credited, and
WHEREAS, said LATIPAC-PERINI COMPANY has tendered to
the CITY OF SAN RAFAEL the full sum of $14,146.75 to be used
in the payment of said claim of said UNITED STATES FIRE INSU-
RANCE COMPANY, upon condition, however, that when and if
further surplus monies of said Assessment District are
-1-
accumulated which can be legally used for the purpose of repay-
ment to the said LATIPAC-PERINI COMPANY of said sum, that they
will be so used,
NOW, THEREFORE, BE IT RESOLVED:
1. That the said offer of the said LATIPAC-PERINI COMPANY
shall be and is hereby accepted, and the said sum of $14,146.75
so received shall be deposited to the account of the MARIN BAY
ASSESSMENT DISTRICT NO. ONE.
2. That the City Clerk be and he is hereby authorized
and directed to draw his warrant against the said funds of MARIN
BAY ASSESSMENT DISTRICT NO. ONE in the sum of $14,146.75, payable
to UNITED STATES FIRE INSURANCE COMPANY, in satisfaction of its
said claim.
3. That, when and if there should hereafter be accumulated
an undistributed surplus of monies of the said MARIN BAY ASSESS-
MENT DISTRICT NO. ONE, LATIPAC-PERINI COMPANY shall be first
paid the said sum of $14,146.75 from said surplus before there
is any distribution thereof to the owners of property within
said Assessment District.
I hereby certify that the foregoing Resolution was duly
and regularly adopted by the City Council of the City of San
Rafael at a regular meeting thereof, held on the 18th day of
March, 1963, by the following vote:
AYES: Councilmen Aly, lair, 1eflson, Meeary and Mayor AIM
NOES: Councilmen
ABSENT: Councilmen
_.. •:I_ -t� 6, ,.,,
W. L MORGAF"
W. L. MORGAN, City Clerk
City_ of San Rafael, County of Marin,
State of California
W. C. CORN ELL — Deputy Ci lerk
-2-
