1981-022-Resolution Of IntentionEKD -4]
TOWN OF LOS GATOS
ASSESSMENT DISTRICT NO. 79 -1
(KNOWLES DRIVE AND VICINITY)
RESOLUTION NO. 1981 -22
RESOLUTION OF INTENTION
WHEREAq, in accordance with prior proceedings duly
had and taken, the Town Council of the Town of Los Gatos has
determined to undertake proceedings pursuant to the Municipal
Improvement Act of 1913 and issue bonds in said proceedings
under the provisions of the Improvement Bond Act of 1915 for
the acquisition and construction of public street facilities,
including clearing and grading; removal of obstructions;
subgrade preparation; aggregate base; asphaltic concrete
pavement; portland cement concrete curbs, gutters, sidewalks
and driveways; lighting facilities; retaining walls, trees
and landscaping; storm drainage facilities; signs; traffic
signals, railroad crossing and crossing protection signals;
and all work auxiliary to any of the above which may be
necessary to complete the same, in and for an assessment
district in the Town of Los Gatos to be designated Assessment
District No. 79 -1; and
WHEREAS, this Town Council, by resolution duly
adopted, appointed the firm of Mark Thomas & Co., Inc. as
Engineer of Work in said proceedings and authorized such firm
to do and perform or cause to be done and performed all
engineering work necessary in and for said proceedings,
including the preparation of plans and specifications for
said improvement and the descriptions of the acquisitions,
together with estimates of costs thereof, and the preparation
of a map of the assessment district, an assessment diagram,
and an assessment and the supervision of the work; and
WHEREAS, the public interest, necessity, conve-
nience and general welfare will be served thereby;
NOW, THEREFORE, BE IT RESOLVED AND ORDERED by the
Town Council of the Town of Los Gatos, as follows:
Section 1. The foregoing recitals are true and
correct and this Town Council so finds and determines.
Section 2. The public interest, necessity, con-
venience and general welfare require the acquisition and
construction of the improvement hereinafter described in the
assessment district hereinafter described.
Section 3. It is the intention of this Town
Council to order the following improvement to be made in the
Town of Los Gatos in an assessment district designated
"Assessment District No. 79 -1," the exterior boundaries of
which are hereinafter specified and described in Section 4
hereof, said improvement to be made being briefly described
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as follows: The acquisition and construction of public
street facilities, including clearing and grading; removal of
obstructions; subgrade preparation; aggregate base; asphaltic
concrete pavement; portland cement concrete curbs, gutters,
sidewalks and driveways; lighting facilities; retaining
walls, trees and landscaping; storm drainage facilities;
signs; traffic signals, railroad crossing and crossing
protection signals; and all work auxiliary to any of the
above which may be necessary to complete the same. Said
improvement shall be made pursuant to the Municipal
Improvement Act of 1913.
Section 4. This Town Council hereby declares that
the territory within the boundaries hereinafter specified and
described is the assessment district to be benefitted by said
improvement and to be assessed to pay the cost and expenses
thereof; that the cost and expenses of said improvement shall
be made chargeable upon said assessment district; and that
the exterior boundaries of said assessment district are
hereby specified and described to be as shown on that certain
map now on file in the office of the Town Clerk of the Town
of Los Gatos approved by Resolution No. 1980 -18 adopted by
this Town Council on January 21, 1980, entitled "Boundary Map,
Assessment District No. 79 -1 (Knowles Drive and Vicinity),
Town of Los Gatos, California," which said map indicates by a
boundary line the exterior boundaries of the territory
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included in said assessment district and shall govern for all
details as to the extent of said assessment district.
Section 5. All public streets, alleys, easements
and rights -of -way shall be omitted from the assessment to be
made to pay the cost and expenses of said improvement, but
all publicly owned parcels shall be included therein.
Section 6. This Town Council hereby determines and
notice is hereby given that serial bonds to represent unpaid
assessments, and to bear interest at the rate of not to
exceed ten per cent (10%) per annum, will be issued hereunder
in the manner provided by Division 10 of the Streets and
Highways Code, the Improvement Bond Act of 1915, and the last
installment of the bonds shall mature a maximum of 19 years
from the 2nd day of July next succeeding 10 months from their
date. This Town Council hereby further determines and notice
is hereby further given that the principal amount of the
bonds maturing each year shall be other than an amount equal
to an even annual proportion of the aggregate principal of
the bonds; and the amount of principal maturing in each year
plus the amount of interest payable in that year will be an
aggregate amount that is approximately equal each year, which
annual aggregate amounts may vary one from another in amounts
not exceeding in any year more than five per cent (5 %) of the
total principal amount of the bonds, except for the moneys
falling due on the first series of the bonds which shall be
adjusted to reflect the amount of interest earned from the
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date when the bonds bear interest to the date when the first
interest is payable on the bonds. This Town Council hereby
further determines and notice is hereby further given that it
proposes to proceed under the alternative procedure
authorized in Part 11.1 of said Improvement Bond Act of 1915
relative to collecting assessments and advance retirement of
the bonds. This Town Council hereby further determines and
notice is hereby given that it proposes to include, as an
additional expense of the proceedings, an amount not in
excess of eight per cent (8 %) of the total amount of
assessments as a special reserve fund for the bonds, as
authorized in said Improvement Bond Act of 1915.
Section 7. After completion of said improvement
and the payment of all claims from the improvement fund to be
provided in the proceedings hereafter to be taken pursuant to
this resolution, this Town Council shall determine the amount
of the surplus, if any, remaining in said improvement fund by
reason of the assessment (and any supplemental assessment)
levied for said improvement, and any such surplus shall be
used for the maintenance of said improvement.
Section 8. This Town Council hereby determines
that, in its opinion, the public interest will not be served
by allowing the property owners to take the contract for the
construction of said improvement.
Section 9. This Town Council hereby refers said
proposed improvement to said Engineer of Work and hereby
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directs said Engineer of Work to make and file in writing a
report containing the matters specified in Section 10204 of
the Streets and Highways Code, which report shall reflect a
contribution to the cost of said improvement of $5541141.00
to be provided by the Town of Los Gatos. The grade to which
said improvement shall be done shall be that which is shown
on the plans and profiles therefor (which may vary from the
official grade established for any of the streets), to which
reference is hereby made.
PASSED AND ADOPTED this 2nd day of February, 1981,
by the following vote:
AYES: Councilmembers; Ruth Cannon, Marlyn J. Rasmussen, Peter W.
Siemens, Brent N. Ventura, Thomas J. Ferrito
NOES:
None
ABSENT: None
[Seal]
Attest:
Towrf Clerk of the TownqT Los Gatos
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