HomeMy WebLinkAboutResolutions - No. 2033HW:RJH:rns 6-6-57 7c
RESOLUTION NO. 2033
A RESOLUTION CREATING REVOLVING FUND
PARKING DISTRICT NO. 1
RESOLVED, by the Council of the City of Lodi, California,
that
WHEREAS, the City Council of the City of Lodi is conduct-
ing proceedings pursuant to the Parking District Law of 1951, Part
4, Division 18, comprising Sections 35100 to 35706, inclusive, of
the Streets and Highways Code, as amended, for the acquisition of
property for off-street parking purposes in Parking District No. 1,
more particularly described in Resolution No. 1944 of Intention
to Form Parking District in the City of Lodi, anc. to Issue Bonds to
Pay the Costs and Expenses Thereof, Parking District No. 1, adopted
July 18, 1956; and
WHEREAS, funds are necessary therefor before the proceeds
of said bonds will be available.
NOW, THEREFORE, IT IS ORDERED as follows:
1. The City of Lodi, Parking District No. 1, Assessment
District Revolving Fund, is Hereby created.
2. Transfers shall be made thereto from available funds
of the City from time to time as funds are needed therein.
3. The moneys in said revolving fund shall be expended
for the cost of said acquisitions and improvements and the costs
and expenses incidental thereto from time to time as said funds are
needed therefor.
4. All funds expended from said revolving fund shall be
reimbursed in full from the proceeds of the sale of said assessment
bonds.
5. A certified copy of this resolution shall be filed in
the office of the City Treasurer.
1 hereby certify that the foregoing resolution was duly
and regularly adopted and passed by the City Council of the City
of Lodi, California, at a regular meeting thereof held on the
19th day of June 1957, by the following vote:
AYES, and in favor thereof, Councilmen: Fuller, Mitchell,
Robinson and Hughes
NOES, Councilmen: None
ABSENT, Councilmen: Katzakian
City Clerk of the City of Lodi