Resolution 1993-45
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RESOLUTION NO. 93 - 45
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GILROY AUTHORIZING APPROVAL OF A
LETTER AGREEMENT FOR SPECIAL DISTRICT ADMINISTRATION
WHEREAS, the City Council of the City of Gilroy, California, formed
Assessment Districts(s) pursuant to the terms and provisions of the Municipal
Improvement Act 1913, (Division 12 of the Streets and Highways Code of the State of
California); and
WHEREAS, the City Council of the City of Gilroy, California, pursuant to the
Improvement Bond Act of 1915 (Division 10 of the Streets and Highways Code of the
State of California) has levied special assessments upon lands within the following
Assessment Districts: 82-2, 86-1, 87-1, 88-1 and Country Estates which are
described in a Resolution of Intention adopted for said improvements, (hereinafter
"ADs"); and
WHEREAS, said proceedings provide for the issuance of bonds pursuant to the
Improvement Bond Act of 1915 (Division 10 of the Streets and Highways Code of the
State of California), and said bonds were previously issued; and
WHEREAS, at this time the City Council of the City of Gilroy is desirous to
set forth all formal terms and conditions relating to the administration of said
ADs and the appointment of a Trustee for the bondholders relative to the collection
of delinquent assessments; and
WHEREAS, there has been presented, considered and ready for approval a
letter agreement setting forth formal terms and conditions relating to such
administration services and appointment of a Trustee for the'bondholders relative
to the collection of delinquent assessments.
NOW, THEREFORE, the City Council of the City of Gilroy does hereby resolve
as follows:
Section 1.
That the above recitals are all true and correct.
Section 2.
That the letter agreement is hereby approved substantially in
the form presented herein, is to be dated the date hereof, and is subject to the
modifications as necessary and as approved by the Director of Finance.
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RESOLUTION NO. 93 - 45
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Section 3.
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That the Letter Agreement relating to such actions submitted
herewith.
PASSED AND ADOPTED this 2nd day of August, 1993, by the following vote:
AYES: COUNCILMEMBERS: GILROY, HALE, KLOECKER, NELSON, ROWLISON, VALDEZ
and GAGE.
NOES: COUNCILMEMBERS: None
ABSENT:COUNCILMEMBERS: None
ATTEST:
AtM~;:d~,
RESOLUTION NO. 93 - 45
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I, SUSANNE E. STEINMETZ, City Clerk of the City of Gilroy, do
hereby certify that the attached Resolution No. 93-45 is an original
resolution, duly adopted by the Council of the City of Gilroy at a regular
meeting of said Council held on the 2nd day of August 19 93
, at which meeting a quorum was present.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the
Official Seal of the City of Gilroy this 3rd day of August ,1993.
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(Seal)