HomeMy WebLinkAboutCC RESO 7056RESOLUTION NO. 7056
RESOLUTION PROVIDING FOR THE PAYMENT BY CITY OF
NATIONAL CITY OF.FIFTY PERCENT OF THE TAXES
LEVIED.,BY THE METROPOLITAN WATER -DISTRICT OF
SOUTHERN CALIFORNIA
WHEREAS, the Board of Directors of The Metropolitan
Water District of Southern California has levied a tax
upon taxable property within said District for the fiscal
year beg`i,nning the 1st day of July, 1957, and ending the
30th day of June, 1958, for the purpose of meeting the
interest and sinking fund requirements on all outstanding
bonded indebtedness of said District, and the payment of
the principal and interest on any refunding bonds, and
on any bonds, the issuance of which may have been author-
ized by the electors, and which bonds have not been sold,
but which bonds, in the judgment of the Board of Directors, will
be sold prior to the time when money will be available from
the next subsequent tax levy, together with a tax upon
taxable property within said City of National City, as
annexed to said District, for the said fiscal year for
the purpose of raising the annual installment of the aggregate
amount to be raised by means of substantially equal annual
levies within said City of National City, as prescribed by
said Board of Directors of said District in fixing the terms
and conditions for the annexation of the corporate area of
said City of National City to said District, together with
a tax upon taxable property within said District for the
said fiscal year for all other District purposes; and
WHEREAS, the City Council of the City of National City,
pursuant to the provisions of Section 8.2 of the Metropolitan
Water District Act of the State of California, did on the
4th day of December, 1956, adopt its Resolution No. 6811
wherein it declared the intention of the City of National
City to pay out of municipal funds fifty. percentum (5010
of the amount of said District'staxes for the said fiscal
year commencing July I, 1957, and ending June 30, 1958, to be
derived from the area of said District within said City; and
WHEREAS, the amount of money to be derived from the area
of the said District lying within said City of National City
by virtue of said tax levy by said District for said fiscal
year, for the aforesaid purposes of meeting the interest and
sinking fund requirements of the said bonded indebtedness
and the payment of the principal and interest on the aforesaid
bonds is the sum of $30,097.91 ; and
WHEREAS, the amount of money to be derived from the area
of said District lying within said City of National City by
virtue of said tax levy by said District for the said fiscal
year for the aforesaid purpose of raising said annual installment
of said aggregate amount to be raised by means of special tax
levies within said City of National City in accordance with the
terms and conditions upon which the corporate area of said
City of National City was annexed to said District is the
sum of $ 13,859.97 ; and
WHEREAS, the amount of money to be derived from the area
of said District lying within said City of National City by
virtue of said tax levy by said District for said fiscal year
for the aforesaid all other District purposes, is the sum of
$ 18, 944.27 ; and
WHEREAS, there is now available in the General Fund
of the City of National City, a sum sufficient, and which may
be used, to pay fifty per centum (501,) of the aforesaid taxes
levied by said District, for said fiscal year, upon taxable
property within said Distctct lying within said City;
NOW, THEREFORE, BE IT RESOLVED AND ORDERED BY THE CITY
COUNCIL -OF THE CITY OF NATIONAL CITY, CALIFORNIA, AS FOLLOWS:
§I. That the said City Council hereby elects to pay
out of the municipal funds, to wit: The General Fund of
said City of National City, the sum of $31.451.08 as
payment of fifty per centum (5010) of the amount of tax
which would otherwise be levied upon property within said
City of National City under and by virtue of the aforesaid
tax levy of said The Metropolitan Water District of Southern
California for said fiscal year commencing July 1, 1957 and
ending June 30, 1958, and the said sum of $31.451.08 hereby
is appropriated from said General Fund for the purpose of
making said payment hereby authorized and elected to be made.
§2. That payment of said sum of $31,451.08 shall
be made by depositing said sum in cash with the Treasurer'_of
said District on or before the 27th day of August, 1957 (the
said sum being the total payment of the fifty per centum (50%)
elected to be paid by said City of National City of the
amount of said District's tax for said fiscal year which would
otherwise be levied upon property within said City.)
§3. That the City Clerk of the City of National City
immediately shall certify to the Controller of said District
a copy of this resolution and order, together with the
financial statement which is required by law to be furnished
to said District.
PASSED AND ADOPTED this ,1/.'slay of August, 1957.
MAYOR
AlT
CITY CLERK