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CC RES 1993-018RESOLUTION NO. 93 -18 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO PALOS VERDES ABANDONING PROCEEDINGS TO FORM THE NANCY ROAD UNDERGROUNDING DISTRICT AND RESCINDING RESOLUTION NO. 88 -63 WHEREAS, a petition for the undergrounding of existing overhead electric and communication facilities in the residential area surrounded by Nancy Road, Lorraine Road and Miraleste Drive, and a waiver of rights under the Special Assessment Investigation-, Limitation and Majority Protest Act of 1931, Division 4 of the California Streets and Highways Code, signed by persons owning more than 60 p ercent in area of the property subject to assessment for the ro osed improvements, were presented to the City Council of p p p the City of Rancho Palos Verdes; and WHEREAS said petition was signed by more than five owners of assessable land in the proposed assessment district, as shown by the last equalized assessment roll used by the City, ownin g lands constituting more than one -half of the area of all assessable lands within the proposed assessment district thereby satisfying the requirement of Section 5896.6 of the California Y g re q Streets and Highways Code; and .WHEREAS, the City Council of the City of Rancho Palos Verdes adopted Resolution No. 88 -63, instituting proceedings for the formation of a proposed assessment district designated as the "Nancy Road Undergrounding District" and directing the Assessment Engineer to prepare a resolution of intention and other documents g necessary to complete the undergrounding project; and WHEREAS, the City Council of the City of the City of Rancho Palos Verdes has subsequently determined that the formation of such assessment district would no longer serve the public interest or convenience; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RANCHO PALOS VERDES HEREBY FINDS, DETERMINES, RESOLVES AND ORDERS AS FOLLOWS: Section 1. Proceedings to form the Nancy Road Undergroundi.ng District are hereby abandoned. Section 2. Resolution No. 88 -63 is hereby rescinded. PASSED, APPROVED AND ADOP ATTEST: CITY CLERK State of California ) County of Los Angeles )ss City of Rancho Palos Verdes ) I, JO PURCELL, City Clerk of the City of Rancho Palos Verdes, hereby certify that the above Resolution No. 93-18 was duly and regularly passed and adopted by the said City Council at a regular meeting thereof held on March 2, 19930 City Cler)q City of ncho Palos Verdes