HomeMy WebLinkAbout1992-07-28; City Council; Resolution 92-2411
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RESOLUTION NO. 93 - 241
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CARLSBAD, CALIFORNIA DETERMINING THE AMOUNT OF
SURPLUS CONSTRUCTION FUNDS FOR THE ALGA ROAD
APPLICATION OF SURPLUS FUNDS
ASSESSMENT DISTRICT NO. 88-1 AND AUTHORIZING
WHEREAS, the construction of the Alga Road Assessment District
No. 88-1 has been substantially completed; and,
WHEREAS, project costs for Alga Road Assessment District No.
88-1 have been established; and,
WHEREAS, construction funds are required for future traffic
signals and median modifications; and,
WHEREAS, surplus construction funds of approximately $1.1
million remain in the bond improvement fund.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of Carlsbad, California, as follows:
1. That the above recitations are true and correct.
2. That the Finance Director is directed to retain Alga Road
Assessment District bond funds of $690,000 for future traffic signals and
$125,000 for median modifications.
3. That the Finance Director is authorized to apply surplus
funds of $978,000 to the 1992-93 Alga Road assessments.
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4. That the Finance Director is directed to refund a
proportionate share for prepaid assessments and call bonds with any
remaining surplus funds.
PASSED, APPROVED AND ADOPTED at a regular meeting of the
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City Council on the 28th day of JULY , 1992, by the following vote,
to wit:
AYES: Council Members Lewis, Kulchin, Larson, Stanton
NOES: None
ABSENT: Council Member Nygaar
ATTEST:
LzLLL-l
ALETHA L. RAUTENKRANZ, City C1 (SEAL)
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