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2. Staff has heard comments that if a landslide requiring immediate repair occurred in a <br /> GHAD with a small reserve, Laurel Creek Estates Fund Reserve would be utilized to <br /> complete the repair. This is not the case. Legally each GHAD is an independent <br /> entity and funds cannot be co-mingled. In the event a landslide occurred that cost <br /> more to repair than available in a GHADs' reserve, a Proposition 218 compliant vote <br /> would be required within that specific GHAD to increase the assessment to cover the <br /> cost of the repair. <br /> Submitted by: Fiscal eview: Approve by: <br /> Stephen K trick Tina Olson Nelson Fialho <br /> Director of Engineering Director of Finance City Manager <br /> Attachment: <br /> 1. Resolution — Oak Tree Farm <br /> 2. Resolution — Moller Ranch <br /> 3. Resolution — Laurel Creek Estates <br /> 4. Resolution — Lemoine Ranch Estates <br /> Page 6 of 6 <br />