HomeMy WebLinkAbout1995-06-27 - AGENDA REPORTS - VALENCIA INDUSTRIAL CENTER (2)City Manager Approval
Item to be presented b :
Anthony J. Nisic�
CONSENT CALENDAR
DATE: June 27, 1995
SUBJECT: BUDGET APPROPRIATION FOR VALENCIA INDUSTRIAL CENTER
TRAFFIC SIGNAL DISTRICT 92-5
DEPARTMENT: Community Development
BACKGROUND
This item is for the City Council to authorize appropriations from Valencia Industrial Center
Traffic Signal District in the amount of $100.00 to Account No. 45-95021-227. The funds are
available in fund balance. This appropriation is to accommodate the payment of County
recording fees for recording the documents to release the liens that were placed on the property
within the traffic signal district. The district was established for the financing of traffic signals
in the Valencia Industrial Center. Liens were recorded on each parcel within the district to
guarantee payment by the property owners for the financing of the traffic signals. When the
owners pay their portion of the district fees the City records the release of lien. The developer
has paid the appropriate fees for the traffic signal district. In order to pay for the recording, the
money needs to be appropriated from the Valencia Industrial Center Traffic Signal District.
RECOMMENDATION
Approve appropriations from Valencia Industrial Center Traffic Signal District in the amount
of $100.00 to Account No. 45-95021-227.
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APPROVED