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CITY COUNCIL OF THE CITY OF PLEASANTON <br /> <br />ALAMEDA COUNTY, CALIFORNIA <br /> <br />RESOLUTION NO. 84-549 <br /> <br />RESOLUTION APPROVING DISTRIBUTION OF SURPLUS ASSESSMENT <br />DISTRICT REDEMPTION FUNDS <br /> <br />WHEREAS, <br /> <br />after twenty years of servicing several of the 1915 Act <br />assessment district bonds, a surplus of funds has been <br />realized due to the investment of funds and the timing <br />of payments from foreclosures made by the county on <br />behalf of the city; and <br /> <br />WHEREAS, <br /> <br />pursuant to Section 8784 of the Streets and Highways <br />Code, after retirement of all bonds, any surplus <br />remaining in the redemption fund may be transferred to <br />the general fund of the city; and <br /> <br />WHEREAS, <br /> <br />the Assistant City Manager presented a report describing <br />the sources and indicating total funds to be declared as <br />surplus and to be transferred to the general fund are <br />$449,878.14; <br /> <br />NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON <br />RESOLVES AS FOLLOWS: <br /> <br />Section 1: Council authorizes the transfer of $449,878.14 of <br /> surplus funds from assessment districts to the General <br /> Fund. <br /> <br />Section 2: This resolution shall become effective immediately <br /> upon its passage and adoption. <br /> <br />THIS RESOLUTION ADOPTED OCTOBER 30, 1984 BY THE FOLLOWING VOTE: <br /> <br />AYES: Councilmembers - Brandes, Butler, Mohr, Wood and Mayor <br /> <br /> Mercer <br />NOES: None <br />ABSENT: None <br />ABSTAIN: None <br /> <br />ATTEST: ~CER ,~ <br /> <br /> <br />