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HomeMy WebLinkAboutResolution 2004-067 N.C.S. 05/03/2004 l~eso~ution No.2004-067N.C.S. of the City of Petaluma, California ADOPTING REASSESSMENT REPORT, CONFIRMING AND ORDERING THE REASSESSMENT PURSUANT TO SUMMARY PROCEEDINGS AND DIRECTING RELATED ACTIONS CONSOLIDATED REASSESSMENT AND REFUNDING DISTRICT OF 2004 (ASSESSMENT DISTRICTS NOS. 24 AND ZS) WHEREAS, by the City Council (the "Council") of the City of Petaluma (the "City"), County of Sonoma, (the "County") California; and, WHEREAS, on May 3, 2004, this Council adopted a Resolution of Intention to Levy Reassessments and to Issue Limited Obligation Refunding Improvement Bonds ' Upon the Security Thereof (the "Resolution of Intention"), in and for the City's Consolidated Reassessment and Refunding District of 2004 (Assessment Districts Nos. 24 and 25) (the "Reassessment District") and therein directed the making and filing of a reassessment report (the "Report") in writing in accordance with and pursuant to the Refunding Act of 1984 for 1915 Improvement Act Bonds, Division 11.5 of the Streets and Highways Code of California (the "Act") which Report includes reassessments for each of the individual assessment districts described in Exhibit A to the Resolution of Intention; and, WHEREAS, the Report was duly made and filed, and duly considered by this Council and found to be sufficient in every particular, and the Report shall stand for all subsequent proceedings under and pursuant to the Resolution of Intention. NOW, THEREFORE, BE IT ORDERED by the Council of the City as follows: 1. Conditions Satisfied. Pursuant to Section 9525 of the Act, and based upon the Report, this Council finds that all of the following conditions are satisfied: (a) Each of the estimated annual installments of principal and interest on the reassessment as set forth in the Report is less than the corresponding .annual installment of principal and interest on the original assessment as also set forth in the Report, by the same percentage for all subdivisions of land within the Reassessment District; Resolution No. 2004-067 N,C.S. (b) The number of years to maturity of all proposed refunding bonds or separate series thereof proposed to be issued under the Resolution of Intention is not more than the number of years to the last maturity of the bonds proposed to be refunded (the "Prior Bonds"); and (c) Except as expressly permitted by the Act, the principal amount of the reassessment on each subdivision of land within the Reassessment District is less than the unpaid principal amount of the original assessment by the same percentage for each subdivision of land in the Reassessment District. 2. Public Interest. The public interest, convenience and necessity require that the reassessment be made. 3. Boundaries Approved. The Reassessment District benefited by the reassessment and to be reassessed to pay the costs and expenses thereof, and the exterior boundaries thereof, are as shown by the boundary map and reassessment diagram thereof on file in the office of the City Clerk, which map and diagram are made a part hereof by this reference thereto. The provisions of the above-referenced Resolution of Intention, including Exhibit A thereto, are hereby incorporated herein by this reference and hereby made a part hereof. 4. Report Approved.. Pursuant to the findings hereinabove expressed with respect to Section 9525 of the Act, all of the conditions are deemed satisfied and the following elements of the Report. are hereby finally approved and confirmed without further proceedings, including the conduct of a public hearing under the Act, to wit: (a) a schedule setting forth the unpaid principal and interest on the Prior Bonds proposed to be refunded and the total amounts thereof; and, (b) an estimate of the total principal amount of the reassessment and of the refunding bonds and the maximum interest thereon, together with an estimate of cost of the reassessment and of issuing the refunding bonds, including expenses incidental thereto; and, (c) the auditor's record kept pursuant to Section 8682 of the Streets and Highways Code of California showing the schedule of principal installments and interest on all unpaid original assessments and the total amounts thereof; and, (d) the estimated amount of each reassessment, identified by reassessment number corresponding to the reassessment number of the reassessment diagram, together with a proposed auditor's record for the reassessment prepared in the manner described in said Section 8682; and, (e) a reassessment diagram showing the Reassessment District and the boundaries and dimensions of the subdivisions of land and the zones therein. Final adoption and approval of the Report as a whole, estimate of the costs and expenses, the reassessment diagram and the reassessment, as contained in the Report, as hereinabove determined. and ordered, is intended to and shall refer and apply to the Report, or any portion thereof, as amended, modified, revised or corrected by, or pursuant to and in accordance with, any resolution or order, if any, heretofore duly adopted or made by this Council. 5. Findings and Determinations. Based on the oral and documentary evidence, including the Report, offered and received by the Council, this Council expressly finds and determines that: (a) each of said several subdivisions of land within the Reassessment District will be specially benefited by the reassessment at least in the amount, if not more than the amount, of the reassessment apportioned against such subdivisions of land, respectively; and, (b) the reassessment approved and confirmed under Section 9525 of the Act shall not be deemed a new or increased assessment and, therefore, is ordered without compliance with the procedural requirements of Article XIIID of the California Constitution. 6. Reassessment Levy. The reassessment, including all costs and expenses thereof, is hereby levied. Pursuant to the provisions of the Act, reference is hereby made to the Resolution of Intention for further particulars. 7. Recordings Directed. The City Clerk shall forthwith cause: (a) the reassessment to be delivered to the official of the City who is the Superintendent of Streets, together with the reassessment diagram, as approved and confirmed by this Council, with a certificate of such confirmation and of the date thereof, executed by the Clerk, attached thereto. The Superintendent of Streets shall record the reassessment and reassessment diagram in a suitable book to be kept for that purpose, and append thereto a certificate of the date of such recording, and such recordation shall be and constitute the reassessment roll herein; and, (b) a copy of the reassessment diagram and a notice of reassessment, .substantially in the form specified in Section 3114 of the Streets and . Highways Code of California and executed by the. Clerk, to be filed and recorded, respectively, in the office of the County Recorder of the County. From the date of recording of the notice of reassessment, all persons shall be deemed to have notice of the contents of such reassessment, and each of such reassessments shall thereupon be a lien upon the property against which it is made, and unless sooner discharged such liens shall so continue for the period of ten (10) years from the.date of said recordation, or in the event bonds are issued to represent the reassessments, then such liens shall continue until the expiration of four (4) years after the due date of the last installment upon such bonds or of the last installment of principal of such bonds. The appropriate officer or officers of the City are hereby authorized to pay any and all fees required by law in connection with the above. 8. Effective Date. This resolution shall take effect upon the date of its adoption. Under the power and authority conferred upon this Council by the Charter of said City. REFERENCE: I hereby certify the foregoing Resolution was introduced and adopted by the Approved as to Council of the City of Petaluma at a (Regular) (Adjourned) (Special) meeting rm on the ........3:d day of .......Dda}t......................................., 20.Q4., by the following vote: ity Attorney AYES: Mayor Glass, Harris, Healy, Vice Mayor Moynihan, O'Brien, Thompson, Torliatt NOES: None. ABSENT: No ATTEST: ~ City Clerk Mayor Council File Res. No.......2DOA-.067-_......N.CS.