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RESOLUTION NO. 21-88
RESOLUTION OF THE CITY COUNCIL OF THE TOWN OF LOS ALTOS HILLS
AMENDING RESOLUTION OF INTENTION NO. 131-87
SEWER ASSESSMENT DISTRICT NO. 11
The City Council of the Town of Los Altos Hills resolves:
This Council amends Resolution of Intention No. 131-87
adopted on December 16, 1987, by deleting the following paragraph:
The amount of any surplus remaining in the improvement
fund after completion of the improvement and payment
of all claims shall be transferred to the general fund
if the surplus does not exceed the lesser of one
thousand dollars ($1000) or five percent (5%) of the
total amount expended from the fund. Otherwise the
entire surplus shall be applied as a credit on the
assessment as provided in Section 10427. 1 of the
Streets and Highways Code.
and substituting therefor the following:
If any excess shall be realized from the assessment it
shall be used, in such amounts as the Council may
determine, in accordance with the provisions of law
for one or more of the following purposes:
(a) Transfer to the general fund of the Town, provided that the
amount of any such transfer shall not exceed the lesser of
$1, 000 or 5% of the total amount expended from the
improvement fund;
(b) As a credit upon the assessment and any supplemental
assessment, provided that such surplus may, if the Council so
determines, also be applied as a credit to the Town or any
local, state or national agency or authority which shall have
made a contribution towards the cost and expenses of the
acquisitions and improvements in the proportion which such
contribution bears to the total amount of the assessment or
supplemental assessment prior to the deduction of all such
contributions; or
c For the maintenance of the improvements.
( ) P
Regularly passed and adopted this 2nd day of March, 1988.
ATTEST: Mayor \,zs,„
City Clerk