Loading...
HomeMy WebLinkAbout00 - Proposed Improvements of Margaret DriveREPORT REQUIRED BY THE SPECIAL ASSESSMENT INVESTIGATION, LIMITATION AND MAJORITY PROTEST ACT OF 1931 AND PREPARED PURSUANT TO RESOLUTION NO. (l9 A o OF THE CITY COUNCIL OF THE CITY OF NEWPORT BEACH, CALIFORNIA 1. Attached hereto and made a part hereof is a map designated "Exhibit All, showing the general nature, location and extent of the proposed improvement of Margaret Drive from Irvine Avenue to approx- imately 750 feet Westerly, which are as follows: The construction of grading, paving, curbs and gutters, and appurtenant work. The above men- tioned improvements are to be made in said district all as shown on said "Exhibit A". The lands to be assessed to pay the cost of said work or improvement as the same are referred to in Resolution No.�4 l adopted by the City Council of Newport Beach, California, on the j( _ day of 1959• Said lands constitute the proposed "Margaret Drive Assessment District" as the same is referred to in said Resolution No. -IL 2. The total estimated cost of said improvement, including incidental expenses of the proceedings, is $ 17,236.00 3. The estimated cost of the improvement proposed is as.follows: Construction of the proposed improvement and appurtenant work $ 15,666.00 4. The estimated total amount of incidental expenses for said improvement is $ 1,570.00 5. There will.be no cost of acquisition of property for said improvement. 6. The City of Newport Beach will make a cash contribution of $3,500.00 toward the cost of said improvement, leaving an estimated net assessment of $13,736.00. Sheet 1 of 4 Sheets. 7. Attached hereto and made a part hereof is a tabulation marked "Exhibit B", showing: (a) The assessed value of each parcel of land to be specially assessed as shown on the last equalized assessment roll of the County of Orange, to -wit, 1958-1955 equalized assessment roll, and the total assessed value of said lands. (b) The total assessed value of the improvements of all parcels of land to be assessed as shown by said roll. (c) The total true value of the lands to be assessed, calculated in accordance with the provisions of Part 8 of Division 4 of Streets and Highways Code of the State of California, and the true value of each parcel of lands, calculated in accordance with the provisions of said Part 8. (d) The estimated amount of assessment for said improvement to be levied upon each parcel of land to be assessed. (e) The total of the amount referred to in Section 7 (d) hereof. (f) The amount, as near as may be determined, of the total prin- cipal sum of all unpaid assessments (Special) and special assessments required or proposed to be levied under any com- pleted or pending assessment proceedings, other than that contemplated in the instant proceedings, whether direct or ad valorem, upon each parcel of the lands proposed to be assessed which, if the proceedings were begun after said Division 4 became effective, would require an investigation and report under said Division 4. 8. Serial bonds bearing interest at the rate of six per cent (b%) per annum shall be issued to represent each assessment of Fifty Dollars 050.00) or over remaining unpaid for thirty (30) days after the date of the recordation of the warrant. Said serial bonds shall Sheet 2 of 4 Sheets. extend over a period ending nine (0) years from the second day of January next succeeding the next October 15th following their date. Said bonds shall be issued under the "Improvement- Act of 1911, Divi- sion 7, of the Streets and Highways Code of the State of California". 9. Attached hereto is a certified copy of said Resolution No. o , adopted by the City Council on the /6 day of n 1959. Dated: January 27, 1959. Approved by the City Council of the City of Newport Beach, California, o my office on , 1959, and filed in 1959 Margery %SchrVuder, City Clerk of the City of Newport Beach, California. Sheet 3 of 4 Sheets.