HomeMy WebLinkAboutStaff Report 2.E 08/01/2005CITY OF PETALUMA, CALIFORNIA
AGENDA BILL
2.E
August 1, 2005
Agenda Title: Meeting Date:
Resolution Setting Annual Assessment Rates for Assessment August 1, 2005
Districts.
Meeting Time: 3:00 PM
7:00 PM
Cateeory (check one): [;Consent Calendar El Public Hearing E] New Business
❑ Unfinished Business ❑ Presentation
Denartment: Director: Contact Person: Phone Number:
Finance I Steven Carmichael Steven Carmichael 778-4352
Cost of Pronosal:
$0
Amount Budgeted:
$0
Account Number:
N/A
Name of Fund:
Assessment District -Bondholders
Attachments to Agenda Packet Item:
1. Agenda Report
2. Resolution Setting Annual Administrative Rates
3. Exhibit A, listing which assessment Districts, the maximum annual assessment and the proposed
charges for Fiscal Year 2005-06
Summary Statement:
Since 1987, the City has, by state law, charged an administrative fee for new assessment districts to cover
costs associated with staff monitoring time, County collection fees, disclosure services and paying agent
fees.
Recommended Citv Council Action/Suggested Motion:
Adopt Resolution
Reviewed by Admin. Svcs. Dir:
D te- /� n
Todav's Date: \
07/11/2005
Reviewed by City Attornev:
Date:
Aaaroved by City Manager:
1V'V^„I,jv(j(//fes Date:
Revision # and Date Revised: File Code:
CITY OF PETALUMA, CALIFORNIA
AUGUST 1, 2005
AGENDA REPORT
FOR SETTING ANNUAL ADMINISTRATIVE RATES
FOR AssESSMENT DISTRICTS 23, 24 AND 25
1. EXECUTIVE SUMMARY: Since 1987, the City has by state law charged administrative fees for new
assessment districts to cover costs associated with staff time, County collection fees, disclosure services
and paying agent fees.
2. BACKGROUND: The costs for administration of special assessment bond issues are City staff time, audit
fee, County collection fees, paying agent fees and disclosure service fees. The annual fees are spread
among all the parcels in each district in the same manner as the bond assessments.
3. ALTERNATIVES: The City's General Fund will absorb the annual administrative costs of the bonds
issued for the assessments districts.
4. FINANCIAL IMPACTS: None
5. CONCLUSION: Assessment Districts should be self-sufficient and pay the costs associated with their
administration.
6. OUTCOMES OR PERFORMANCE MEASUREMENTS THAT WILL IDENTIFY SUCCESS OR
COMPLETION: Administrative costs for the fiscal year 2005-06 will paid by the respective districts.
RECOMMENDATION: Adopt resolution and authorize charges to be sent to the County of Sonoma Tax
Assessor's Office for inclusion with the 2005-06 property tax bills
z
RESOLUTION SETTING ANNUAL
ADMINISTRATIVE RATES FOR
ASSESSMENT DISTRICTS
WHEREAS, the City Council has heretofore confirmed as assessment for
improvements in the Assessment Districts listed in the Attached Exhibit A, including a
maximum annual assessment to reimburse the City for its costs in administering the assessments,
the funds derived there from and the bonds secured thereby.
WHEREAS, the annual assessment for administrative costs is hereby set for each
assessment district listed in Exhibit A and shall be collected on the County tax roll for the fiscal
year 2005-06, until changed by resolution of this City Council. The annual assessment shall be
spread and applied to the assessed parcels in the same manner as the original assessment.
NOW, THEREFORE BE IT RESOLVED, the City Council finds that this annual
assessment does not exceed the maximum annual assessment adopted in the engineer's report.
The annual administrative assessment is a reasonable estimate of administrative costs to be
incurred.
IN
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
EXHIBIT A
CITY OF PETALUMA, CA
ANNUAL ASSESSMENT FOR
ADMINISTRATIVE RATES FOR
TAX ROLL YEAR 2005-06
Tax Roll Year
Maximum
2005-06
Assessment
Tax
Annual
Annual
District
Codes
Assessment
Assessment
Assessment District 925
92800
$4,920
$4,264
Mc Near Landing
Assessment District #23
80010
$8,800
$8,800
Redwood Business Park III
Assessment District #24
76500
$12,800
$5,427
Lakeville Highway Improvements
Total
$18,491