HomeMy WebLinkAboutCC RESO 6468RESOLUTION NO. 6468
A RESOLUTION AND ORDER OF THE CITY COUNCIL OF THE
CITY OF NATIONAL CITY, CALIFORNIA, ELECTING TO
PAY OUT OF MUNICIPAL FUNDS FIFTY PER CENTUM (50%)
OF THE AMOUNT OF TAX WHICH WOULD OTHERWISE BE
LEVIED UPON PROPERTY WITHIN SAID CITY OF NATIONAL
CITY BY AND FOR THE METROPOLITAN WATER DISTRICT
OF SOUTHERN CALIFORNIA, FOR THE FISCAL YEAR
BEGINNING JULY 1, 1955 AND ENDING JUNE 30, 1956,
AND PROVIDING FOR THE PAYMENT THEREOF.
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 beginning the
1st day of July, 1955, and ending the 30th day of June, 1956, 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 authorized 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 7th day
of December, 1954, adopt its Resolution No. 6300 wherein it
declared the intention of the City of National City to pay out
of municipal funds fifty per centum (50%) of the amount of said
District's taxes for the said fiscal year commencing July 1,
1955, and ending June 30, 1956, 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 pruposes 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 $29,172.12; 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 $13,380.14; 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
$17,331.05; and
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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 (50%) of the aforesaid taxes
levied by said District, for said fiscal year, upon taxable
property within said District lying within said City;
NOW, THEREFORE, BE IT RESOLVED AND ORDERED BY THE CITY
COUNCIL OF THE CITY OF NATIONAL CITY, CALIFORNIA, AS FOLLOWS:
Section 1. 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 $29,941.66 as payment
of fifty per centum (50%) 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
MetrppOlitan Water District of Southern California for said
fiscal year commencing July 1, 1955, and ending June 30, 1956,
and the said sum of $29,941.66 hereby is appropriated from said
General Fund for the purpose of making said payment hereby
authorized and elected to be made.
Section 2. That payment of said sum of $29,941.66
shall be made by depositing said sum in cash with the Treasurer of
said District on or before the 27th day of August, 1955 (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.
Section 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 on the ., day of
Attest:
Mayor
1955.
city Clerk
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