§ 61.0315 — Resolution of Intention

§61.0315 Resolution of Intention

Whenever the public interest or convenience requires, the Council may declare that the City shall participate in the financing of the construction, installation, acquisition, repair or replacement of any improvement when such work has been accepted as a project by a participating agency, and applicable law or rules, regulations or orders require the participating agency to be in control of the project. The Council may adopt a resolution declaring the City’s intention to participate in the financing of such a project. The resolution of intention shall include the following information: (a) A statement that the work is to be performed under the auspices and control of a designated participating agency; (b) A statement setting forth the proposal for sharing of the costs of the project including the share, if any, to be borne by the benefited property; (c) A brief description of the proposed improvements; (d) A brief description of the exterior boundaries of the proposed assessment district; (e) Provisions for the issuance of bonds to represent any unpaid assessments; (f) A statement that payments made upon the assessments and the proceeds of any bonds issued shall be paid, at least in part, to the participating agency; (g) Provisions for the disposal of any surplus remaining in the improvement fund after the completion of the improvement.

(“Resolution of Intention” added 12–30–1965 by O–9340 N.S.)