HomeMy WebLinkAboutResolution No. 01-C0880 0
RESOLUTION NO. 01-C88
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
AZUSA, CALIFORNIA, APPROVING THE USE OF EXCESS
LIGHT AND WATER DEPARTMENT RETURN -ON -
INVESTMENT REVENUE TO PAYOFF THE LA SALLE BANK
NOTE
WHEREAS, the City of Azusa owns and operates water and electrical utilities that
are deemed to be enterprise funds; and
WHEREAS, in connection with the prudent operation of utility enterprise funds the
Light and Water Department has set aside reserves which are invested; and
WHEREAS, from time to time the investments of reserve funds perform
exceptionally well; and
WHEREAS, there is a base reserve amount and anticipated investment revenue that
is considered in calculating the actual cost of providing utility services; and
WHEREAS, the higher than expected investment revenue does not impact utility
service rates; and
WHEREAS, in the pursuit of fiscal stability the City Council desires to use excess
investment revenues to pay off the existing LaSalle Bank debt,
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF AZUSA,
CALIFORNIA, DOES FIND AND DECLARE THAT:
SECTION 1: Pay off LaSalle Bank Debt. The Finance Director is hereby authorized
to pay off the LaSalle Bank debt in the amount of $4,115,046.57 using excess utility investment
revenue.
SECTION 2: Effective Date. This Resolution shall become effective upon its
adoption.
RVPMWGS 18090
this 27th day of August 2001.
0 0
ATTEST:
(:-1ZL C�� o�C
Vera Mendoza
City Clerk
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss.
CITY OF AZUSA )
I, Vera Mendoza, City Clerk of the City of Azusa, do hereby certify that the foregoing
Resolution No. 01-C88 was duly introduced and adopted at a regular meeting of the City Council
of the 27th day of August, 2001, by the following vote, to wit:
AYES: COUNCILMEMBERS
NOES: COUNCILMEMBERS:
ABSENT: COUNCILMEMBERS:
:0 (
Vera Mendoza,
City Clerk
STANFORD, HARDISON, CHAGNON, ROCHA,
MADRID
NONE.
MTP VGS618M -2-
Rug,,06 01 03:38p Pickard
•
RECORDING REQUESTED BY AND
w119N RECORDED MAIL T0:
'Phu City of Azusa
Light and Wawi Dcparlment
729 NoFW Azusa Avenue
P. 0. Dor 9500
Azusa, CA 91702
(5621 945-1114
•
7"HIS DOCUMENT IS FILED A"1"'rHF.
REQUEST OP THE CITY OF AZUSA
PURSUANT TO SECTION 6103 01'
THE GOVRRNMENTCODE. NO
FEE SHALL BE CHARGED THEREFOR.
(SPACE ABOVE THIS LINE FOR RECORDER'S USE)
GRANT OF PERMANENT EASEMENT
FOR VALUABLE CONSIDERATION, receipt of which is hereby acknowledged,
Realty Bancorp Equities, LLC, a California Limited Liability, ("Grantor'), does hereby grant to
the CITY OF AZUSA, CALIFORNIA, a municipal corporation, its successors and assigns, and
its and their employees, contractors and agents ("Grantee'), the permanent easement and right-of-
way to construct, operate, use, maintain, alter, add to, reconstruct, enlarge, repair, renew, replace,
inspect, improve, relocate, and/or remove, at any time and from time to time underground water
supply systems and fire protection systems (hereinafter referred to as "Systems"), consisting of,
but not limited to, underground conduits, vaults, manholes, hand holes and including above-
ground enclosures, markers and fire hydrants and other appurtenant fixtures and equipment
necessary or useful for distributing water on, over, under, in, along, and across the following
described parcel of real property situated in the City of Azusa, County of Los Angeles, State of
Califomia:
As described in Exhibit "A" and depicted in Exhibit "B" attached
hereto and made a part hereof.
Together with all necessary and convenient means of ingress and egress to and from said right-of-
way or strip of parcel of land, free from any and all buildings, equipment, vegetation, combustible
materials, or obstructions of any kind, for the purpose of constructing, reconstructing,
maintaining, operating, repairing, renewing, replacing, using, altering, or removing in any matter
the Systems together with any and all of the purposes herein before mentioned.
TO HAVE AND TO HOLD the above granted and described premises unto the
CITY OF AZUSA, CALIFORNIA, its successors and assigns forever.
IN WITNESS HERETO, Grantor has executed this Grant of Penuanent
Easement this AVI day of August...., 2001.
p.3
MU6•Uo Ur UO:Jsp PickarC (5621 945-1114 P,5
STATE OF
COUNTY OF OS
On 200/ , before me,
Personaliv appeared
2G personally known to me - OR — proved to me on the basis of
Salisfactory evidence to be the persot)Wwhose natne(a)I( bro-
subscribed to the within instrument and acknowledge to me that
h Sttdihey executed Ute same itt ti ter/their authorized a that
ty(ie�
and drat by ti Jlcch signature ,(&) on the instrument the perso*), or
entity upon behalf of which the person(s) acted, executed the instrument.
Witness my hand and official seal.
SIGNATURE OF NOTARY
ATTENTION NOTARY: Although the information requested below is
OPTIONAL, it could prevent fraudulent attachment of dtis certification
to unauthorized documents.
THIS CERTIFICATE MUST BE ATTACHED TO DOCUMENT
DESCRIBED AT RIGHT:
A .UI
CAPACITY CLAI.b(ED BY SIGNER
OT-'-1NDIX'I DUAL (S)
-`G CORPORA7,
OFFICER (S)
CD
PARI"NER(S)
II)
AITORNEY.IN.pACT
ID
TRUSTEE(S)
Co
SUBSCRIBING WrrNESs
to
GUARDIAN/CONSERVATOR
fU
O"IHER
SIGNER IS REPRESENTD\G:
NAME OF PERSON(S) OR
ENTITI(IES):
Title or Type of Document
Number of Pa—g�
Date of Document /
Signer(s) other than
Named Above