Resolution 1084
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RESOLUTION NO. 1084
A RESOLUTION CREATING A REVOLVING FUND
SOUTH CHESTNUT STREET EXTENSION
PROJECT NO. 1967-1
RESOLVED, by the City Council of the City of Gilroy, Cali-
fornia, that
WHEREAS, this Council has determined to undertake proceedings
pursuant to appropriate assessment and assessment bond acts for
the acquisition and construction of public improvements in said
City more particularly described as follows:
a) The acquisition of property necessary for
the opening of a new street of the uniform width of
86 feet to be known as South Chestnut Street from
Luchessa Avenue, running thence northerly 1600 feet,
more or less, to the Princevalle storm drain channel
as more particularly shown on sheet 2 of that certain
map entitled, "Official Plan Lines for Chestnut Streetlt,
dated November, 1966, and filed for record in the .
office of the County Recorder, Santa Clara County, in
Book 6 of Plan Line Maps at pages 63 and 64, and the
acquisition of property necessary for the widening of
Luchessa Avenue to a uniform width of 86 feet from the
easterly line of the Southern Pacific Railroad Company
right of way, running thence southeasterly to the
westerly line of the proposed U.S. 101 Highway and the
improvement thereof by clearing, grubbing, grading,
removal of existing trees, shrubs and structures and the
construction therein of base, pavement, curbs, gutters,
street signs, striping, monuments, barricades, under-
ground serviced street lighting, surface and subsurface
storm drainage facilities, where necessary, including
outfall structure at Princevalle storm drain channel,
sewer mains, manholes with manhole frames and covers,
wye branches, laterals and cleanouts, where necessary,
water mains, valves, tees and hydrants and services,
where necessary, together with the connection of said
sewer and water facilities to existing facilities of
the City of Gilroy.
b) The acquisition of all lands and easements
and the performing of all work auxiliary to any of the
above necessary to complete the same.
WHEREAS, Section 10424 of said Municipal Improvement Act of
1913 provides that this Council, to expedite the making of said
improvements, may at any time advance out of any money in the
general fund such sums as it deems necessary and that any sums
so transferred are a loan and shall be repaid out of the proceeds
of the assessments;
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WHEREAS, Title 4, Division 4, Chapter 3, Article 2 of the
Government Code of the State of California provides for the creati
of a revolving fund in connection with proceedings had for the
purposes therein set forth; and
WHEREAS, the publiC convenience and economy will be served
by creating a revolving fund in connection with said proceedings.
NOW, THEREFORE, IT IS ORDERED, as follows:
1. A revolving fund, to be known as South Chestnut Street
Extension Project No. 1967-1 Revolving Fund is hereby created and
shall be maintained.
2. The sum of $ 10,000.00 , and such other sums as the
Council may hereafter order, shall be transferred from the General
Fund of the City to said Revolving Fund.
3. The moneys in said Revolving Fund shall be expended for
the acquisitions and improvements hereinabove set forth, including
the costs and expenses incidental thereto, and the cost of acquir~
ing land, rights of way, or other property necessary for such pur-
poses as said funds are needed therefor.
4. Said Revolving Fund shall be reimbursed from the assess-
ments to be collected and the proceeds of the bonds to be issued
and sold in said assessment proceedings, and from such other source
as the Council shall hereafter determine.
5. When the purposes for which said Revolving Fund is create
have been fully accomplished, all moneys remaining therein shall
be returned to the General Fund and said Revolving Fund discon-
tinued.
6. A certified copy of this resolution shall be filed in
the office of the City Treasurer.
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2.
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I hereby certify that the foregoing is a full, true
and correct copy of a resolution duly passed and adopted
by the City Council of the City of Gilroy, California, at
a meeting thereof held on the 6th day of
March
,
196-!-, by the following vote of the members thereof:
AYES, and in favor thereof, Councilmembers: Allemand,
Duffin,6obdri'<;:fl;~uartiroli ,Wentworth, and Petersen.
NOES,
ABSENT,
Councilmembers: NODe
councilmembers:. ,ECkard /J
'/~&F
' City Clerk of t .. Y of
Gilro
APPROVED:
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