Resolution 09734JWW:RJH:sc 03/26/82 9560B
RESOLUTION NO. 9734
A RESOLUTION ORDERING REDUCTION OF ASSESSMENTS
HARBOR BAY BUSINESS PARK ASSESSMENT DISTRICT 81 -1
I61
RESOLVED, by the City Council of the City of Alameda, County of Alameda,
California, that
WHEREAS, the estimated cost of the project under Resolution of Intention No.
9673, adopted by this Council on January 19, 1982, was $7,310,000;
WHEREAS, because of reductions in the scope of work and reductions in other
costs related to the project, said estimated cost was reduced by this Council on
March 2, 1982, by its Resolution No. 9707, to the sum of $5,373,670 and by said
Resolution, each of the individual assessments was reduced by its pro rata share of
the difference between the total assessment as preliminarily approved and said
reduced total assessment;
WHEREAS, this Council has now received an offer to purchase the bonds to be
issued in these proceedings, which offer specifies amounts of bond discount and
reserve fund less than those heretofore approved by this Council by its Resolution
No. 9708, adopted March 2, 1982, and which amounts are hereinafter specified;
WHEREAS, this Council may properly, and intends to, reduce the amount of
said assessment by the amount of interest earnings estimated to accrue on the funds
allocated for construction and approved by said Resolution No. 9708, which amount
is $175,000;
NOW, THEREFORE, IT IS HEREBY ORDERED THAT:
1. The amount of bond discount Is reduced from $806,050 to $5-28, 063 .
2. The amount of bond reserve fund is reduced from $537,370 to
$3B',000 .
3. The assessment heretofore levied is reduced by the amount of $175,000,
which amount is estimated to be the sum of interest reasonably expected to accrue
on funds allocated for construction during the period of said construction.
4. Based upon the foregoing reductions, the total assessment is hereby
reduced from $5,373,670 to $ g00 / 62 U , and each of the individual assessments
shall be reduced by its pro rata share of the difference between the total
assessment as previously approved and said reduced total assessment as follows:
Assessment No.
1
2
Assessor's
Parcel No.
74- 1040 -4 -5 (por)
74- 1040 -4 -5 (por)
As Confirmed
and Recorded
$2,477,082.08
$2,896,587.92
* * * * * * * * * * * * ***
As Reduced
Hereby
$ 1,2)3$0E5.82
$ 2 5-29, 5-35/./8
I, the undersigned, hereby certify that the foregoing Resolution was duly and
regularly introduced and adopted by the Council of the City of Alameda in regular
meeting assembled on the 6th day of April , 1982, by the following
vote, to wit:
AYES: Councilmen Diament, Gorman, Sherratt, Stone and President Corica - 5.
NOES: None.
ABSENT: None,
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal
of said City this 7th day of April , 1982.
City Clerk of the Cit of A meda