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RESOLUTION NO. 81-182 <br /> <br />RESOLUTION OF THE CITY COUNCIL OF THE <br />CITY OF SANTA ANA COVENANTING DILIGENT <br />PROSECUTION OF FORECLOSURE <br /> <br /> WHEREAS, the City Council of the City of Santa Ana, by <br />Resolution No. 81-119 adopted July 20, 1981, declared its <br />intention to order certain work, acquisitions and improve- <br />ments to be made and to issue improvement bonds to represent <br />unpaid assessments in Assessment District No. 246, all <br />pursuant to the Municipal Improvement Act of 1913 and the <br />Improvement Bond Act of 1915, as described in the resolu- <br />tion; <br /> <br /> WHEREAS, Section 8830(b) of the California Streets and <br />Highways Code authorizes a legislative body issuing bonds <br />under the Improvement Bond Act of 1915 to covenant, by <br />resolution, to commence and diligently prosecute to comple- <br />tion any foreclosure action regarding delinquent install- <br />ments of any assessment which secure the bonds, and to <br />specify, by resolution, a deadline for commencement of such <br />foreclosures and such other terms and conditions regarding <br />it as the legislative body may determine to be reasonable; <br /> <br /> WHEREAS, the City Council, by the above resolution, <br />also declared its intention to covenant, pursuant to such <br />provision, for such diligent foreclosure; <br /> <br /> NOW, THEREFORE, BE IT RESOLVED AND ORDERED by the City <br />Council of the City of Santa Ana, State of California as <br />follows: <br /> <br /> 1. It is hereby covenanted by and between the City of <br />Santa Ana and the holders of the bonds to be issued by it <br />for Assessment District No. 246, that in the event of <br />delinquency in the payment of any installment of an assess- <br />ment then due and payable, the City Council shall cause <br />court foreclosure proceedings, pursuant to Section 8330 et <br />seq. of the Streets and Highways Code, to be commenced <br />within either 60 days of such delinquency, or within 60 <br />days of receipt of a written demand by any bondholder whose <br />interest might be adversely affected by any delinquency, and <br />shall cause such action to be diligently prosecuted to <br />judgment and sale. <br /> <br /> PASSED AND ADOPTED this <br />by the following vote: <br /> <br />2nd day of November ., 1981, <br /> <br />AYES: <br /> <br />NOES: <br /> <br />COUNCILMEMBERS: <br />COUNCILMEMBERS: <br /> <br />Acosta, Bricken, Griset, Luxembourger, <br /> McGuigan, Serrato <br />Markel <br /> <br />ABSENT OR NOT VOTING: <br /> <br />COUNCILMEMBERS: None <br /> <br /> Gora%~n"Br icken <br /> Mayor, City of Santa Ana <br /> <br />ATTE ST: <br /> <br />APPROVED AS TO FORM: <br />CITY ATTORNEY <br /> <br /> <br />