HomeMy WebLinkAboutAgenda Bill 3.J 07/19/2004CITY OF PETALUMA, CALIFORNIA
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Agenda :.Title
Meeting Date:
Resolution Settin Annual Assessment Rates for Assessment
g (Redwo:o'd
July 19, 2004
Di�stnets No: 23 Park) and Consolidated
Business Par
"
Districts No". 24 9- 25 (Lakeville Highway and McNear Landing)
1Vleeting Time [Z 3 :00 PM
F 7:00 PM
Category (check one) Consent Calendar El' Publi c Hearing El New Business
Unfinished Business ❑ Presentation
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Department
D><rector
Contact Person
Phone Number
Finance
o e e tter
_
Barbara Spataro'
707 - 778 -4323
Cost of Proposal
Account Number
None
NIA
Amount Budgeted
Name of Fund-
None
Assessment Districts - Bondholders
Attachments to Agenda Packet Item ".
1. Agenda Report
. 2. Resolution Setting Annual Assessments
3. ` Exhibit A, listing which assessment districts, the maximum annual' assessment, and the proposed
charges for the Fiscal Year 2004. -05
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. The administrative fees authorized by this action include Assessment District #23 (Redwood
Business Park III) and Consolidated District'No. 24 and 2 -5 (Lakeville Highway and McNear Landing
respectively). The administrative charge.is 3 % of the. annual debt- service payments which equals $18,435
for these three assessment districts. Th amounts are individually'bil - led by the County of Sonoma on each
property owner's property tax bill.and remitted to the City along with its normal property tax payments.
Recommended. City Council Action/SugLxested Motion
Adopt. Resolution"
ewed b. Fin ance.Director:
- Reyiewed,by City Attor:.ney
2004 Date:
A , " roved ` Manager:
Date:
D ate:,
odWs Date
" Recision'# and Date Revised:
File Code:
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Sl agenda /assessinentdistrict rates 7 -19 -04
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CITY OF, PETALUMA, CALIFORNIA
JULY 19,_2004 .
AGENDA REPORT
FOR
SETTING ANNUAL ASSESSMENT FOR ADMINISTRATIVE RATES
FOR ASSESSMENT DISTRICTS'
L" EXECUTIVE SUMMA". .
Sif r' , y g fee for new assessment districts to cover costs
cia ed with staff timebCounty c le tion fees, disclosure dm administrative
service, and paying agent fees. The administrative
fee&;authorized by this action include Assessment District #23.(RedwoodBusiness, Park LII) and Consolidated
-District No. 24 and 25 (Lakeville Highway'�and McNear Landing respectively). The administrative charge is
3 %/ , of the annual debt �, i three assessment districts. The amounts
are individual) billed, b the Cou of on each property o ese
° service a meats which equals $.18,435' for th
y y ty wner's.,property tax bill and remitted to the
City along with it's"normal property tax payments.
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 abs
. T
ty' orb the °annual costs' ofthe bonds issued for the assessment
districts.
FINANCIAL IMPACTS'
Norte
5. ' CONCLUSION:
Assessment, Districts should be self- sufficient and pay the costs associated with its administration.
6: OUTCOMES OR PERFORMANCE MEASUREMENTS''TIIIAT WILL,INDENTIFY SUCCESS
OR COMPLETION:
Administrative costs for 'the fiscal year 2004 -05 will be paid`by the respective districts and appropriate property
owners.
7, RECOMMEND'ATION
Adopt ` resolution ; and,authorize;chargestobe sent to the Countyof�S'onoma.Tax Assessor's inclusion
with the:2004 -05 property fax bills.
s:/ agenda /msessinentdistrict fates ;7-19-04
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RESOLUTION SETTING ANNUAL ASSESSMENT
]FOR AD . MINISTRATIVE RATES FOR
ASSESSMENT DISTRICTS
WHEREAS, the City Council has: heretofore confirmed as assessment for improvements. in the
kss"essmentDistricts listed in the attached';Exhibit A,, including a,:maxirnum,arinual 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,y'ear 2004 -05, until changed by
resolution of this City Council. The: annual' assessment shall 'be spread and zpplied tot he assessed parcels in
the same manner as the original assessment.
NOW, THEREFORE DE_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.
EXHIBIT A
CITY OF PETALUMA,, CA
ANNUAL ASSESSMENT FOR
ADMINISTRATIVE':RATES FOR
TAX ROLL YEAR 2004 -05
Assessment Tax
District Codes
Assessment District #23 80010
Redwood Business Park III
AD #24 Lakeville Highway 76500
AD #25 McNear Landing 92800
Consolidated Assessment District 2004
Maximum
Annual:
Assessment
$8,800
-$17,720
Tax Roll Year
2004 -05
Annual
Assessment
$9,635
$18,435
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