HomeMy WebLinkAbout2004-61 - Assessment District Surplus FundsRESOLUTION NO. 2004- 61
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NEWPORT
BEACH DECLARING SURPLUS IMPROVEMENT FUNDS HELD FOR
ASSESSMENT DISTRICTS NOS. 60, 61, 62, 63, 64, 65, 66, AND 72
AND AUTHORIZING USE OF THE SURPLUSES
WHEREAS, the City Council of the City of Newport Beach, has conducted
proceedings and completed construction for certain works of improvement in special
assessment districts pursuant to the terms and provisions of the "Municipal
Improvement Act of 1913," being Division 12 of the Streets and Highways Code of the
State of California; said special assessment districts known and designated as
Assessment District Nos. 60, 61, 62, 63, 64, 65, 66, and 72 (hereinafter referred to as
the "Assessment Districts ");
WHEREAS, after completion of the improvements and payment of all the claims
from the Improvement Funds for said Assessment Districts, there remains a surplus in
the Improvement Funds, and this legislative body is desirous at this time to make the
disposition of said surplus as prescribed by Section 10427, et seq., of the Streets and
Highways Code of the State of California;
NOW, THEREFORE, IT IS HEREBY DETERMINED AND RESOLVED AS FOLLOWS:
SECTION 1. The above recitals are all true and correct.
SECTION 2. The works of improvement, as set forth and described in the resolution of
intention for each of the Assessment Districts proceedings, have been
completed to the satisfaction of this legislative body, and all payments
have either been made or set aside for all existing or potential claims,
costs and expenses.
SECTION 3. The Director of Administrative Services is hereby authorized and directed
to apply all surplus monies at this time remaining in the Improvement
Funds as follows:
A. As a credit or payment to property owners within the boundaries of
the Assessment Districts on a pro -rata basis generally determined
as follows:
1. To those who paid in cash, the proportionate share of the
surplus shall be returned in cash to the person or persons
owning the property for which the assessment or installment
has been paid;
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2. Where any part of an individual assessment remains unpaid
and is payable in installments, the amount apportioned to
each parcel shall be refunded in cash, used to reduce the
original assessment, or both;
B. To call bonds of the respective Assessment Districts;
C. To pay for the maintenance of the improvements financed by the
Assessment Districts;
D. To a transfer to the general fund of the City, provided such transfer
is the lesser amount of $1,000 or five percent (5 %) of the amounts
expended from the respective Improvement Funds.
The Director of Administrative Services is authorized to apply the
surpluses in his discretion in any one or any combination of the uses
stated above so long as each surplus is applied only with respect to its
respective Assessment District.
SECTION 4. This resolution shall take effect from and after its adoption.
PASSED, APPROVED AND ADOPTED at a regular meeting of the City Council of the
City of Newport Beach, held on the 27th day of July, 2004, by the following vote:
AYES: Heffernan, Rosansky, Adams, Bromberg, Webb, Nichols
NOES: None
ABSENT: None
ABSTAIN: Mayor Ridgeway
ATTEST:
City Clerk
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Mayor
STATE OF CALIFORNIA }
COUNTY OF ORANGE } ss.
CITY OF NEWPORT BEACH }
I, LaVonne M. Harkless, City Clerk of the City of Newport Beach, California, do
hereby certify that the whole number of members of the City Council is seven; that the foregoing
resolution, being Resolution No. 2004 -61 was duly and regularly introduced before and adopted by
the City Council of said City at a regular meeting of said Council, duly and regularly held on the 27th
day of July, 2004, and that the same was so passed and adopted by the following vote, to wit:
Ayes: Heffernan, Rosansky, Adams, Bromberg, Webb, Nichols
Noes: None
Absent: None
Abstain: Mayor Ridgeway
IN WITNESS WHEREOF, I have hereunto subscribed my name and affixed the
official seal of said City this 28th day of July, 2004.
(Seal)
City Clerk
Newport Beach, California