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Resolution No. 95-136 <br />Page 2 <br /> <br />WHEREAS, Dublin has been discussing with Pleasanton and with property <br /> owners in Dublin the adoption of a traffic mitigation fee to <br /> reimburse Pleasanton for Dublin's pro rata share of these <br /> interchange improvements; and <br /> <br />WHEREAS, Pleasanton's receipt of these latter funds is more speculative <br /> and likely not to be in the near term. <br /> <br />NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON <br />RESOLVES AS FOLLOWS: <br /> <br />Section 1: As shown on the Final Schedule of Costs, attached hereto as Exhibit A, and <br /> by reference incorporated herein, a balance of $3,320,042 remains in the <br /> improvement fund for N'PID No. 3, Assessment District No. 1986-9, of <br /> which $1,843,390 is surplus. <br /> <br />Section 2: The amount of $1,843,390, plus accrued interest, shall be applied as a <br /> credit upon the assessment levied in NPID No. 3, Assessment District No. <br /> 1986-9, in the manner provided in Section 10427.1 of Streets and Highways <br /> Code and the District shall be closed. <br /> <br />Section 3: The remainder ($1,476,652), plus accrued interest, shall be transferred into <br /> a Capital Projects fund entitled "Freeway Landscape Maintenance." <br /> <br />Section 4: The City's receipt of any repayment f~om the City of Dublin; after the <br /> adoption of this resolution, under the March 11, 1991 Agreement between <br /> the City of Dublin, City of Pleasanton, the County of Alameda and the <br /> Alameda County Surplus Property Authority Regarding ConsUnction of <br /> Certain Roadway Improvements, as said Agreement was mended in <br /> August, 1994, shall be credited to property owners within the boundaries of <br /> NPID No. 3, as said boundaries now exist, on a pro rata basis, based on <br /> property ownership on the date the City credits the assessments as provided <br /> in Section 2 of this resolution, except that the Prudential Insurance <br /> Company and certnin other property owners identified by Prudential shall <br /> not be entitled to credit/repayment until Pmdential's credit exceeds <br /> $400,000. <br /> <br />Section 5: Except as provided in Section 4 of this resolution, the City's receipt of any <br /> other repayment for work funded by NPID No. 3 after the adoption of this <br /> resolution shall be deposited in the City's General Fund, shall not be repaid <br /> or returned to property owners then or now within the boundaries of NPID <br /> <br /> <br />