HomeMy WebLinkAboutTC Res 1996-09-04 (2)
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RESOLUTION NO. 3180
RESOLUTION OF THE TOWN COUNCIL
OF THE TOWN OF TffiURON
OF INTENTION TO CONDUCT REASSESSMENT PROCEEDINGS
CffiRlAN DRIVE REASSESSMENT DISTRICT NO. 1996-1
The Town Council of the Town ofTiburon hereby resolves as follow:
This Town Council hereby determines that the public interest or necessity requires the
refunding of all outstanding bonds previously issued as Cibrian Drive/La Cresta Assessment District
Refunding 1989-1 in the Town ofTiburon, Marin County, California. This Town 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 Town Council hereby directs the preparation and filing with the Town Clerk ofa
written report containing each of the items specified by Section 9523 of the Act.
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 no later than September 2, 200 I.
The Town will not obligate itself to advance available funds from the Town Treasury to
cure any deficiency which may occur in the bond redemption fund. A determination not to obligate
itself shall not prevent the Town from, in its sole discretion, so advancing funds.
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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 redemption fund for the refunding bonds.
PASSED AND ADOPTED at a regular meeting of the Town Council
of the Town ofTiburon on September 4, 1996, by the following vote:
AYES:
COUNCILMEMBERS:
Ginalski, Hennessy, Thayer, Wolf
NOES:
COUNCILMEMBERS:
None
ABSENT:
COUNCILMEMBERS:
Thompson
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MCK WOLF, OR-
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DI . CRANE, TOWN CLERK
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