RES 18-994 - Laserfiche WebLink

of the following: (1) Identification of types of Authorized Improvements that may be financed through the use of contractual assessments. (2) Identification of the 'CEDA official authorized to enter into contractual assessments on behalf of CEDA. (3) A maximum aggregate dollar amount of contractual assessments. (4)- A method for setting requests from property owners,for financing through contractual assessments in priority order in the event that requests appear likely to exceed the authorization amount. (d) A plan for raising a capital amount required to pay f• ;•rk performed in connection with contractual assessments. Theay, ay include the sale of a bond or bonds or other financing relationship p giant to Section 5898.28.of Chapter 29. The plan (i) shall include a statemen= or met od.for determining, the interest rate and time period during which contra•ik1, .o•erty owners would pay any assessment, (ii) shall provide fe,any reserve ' or funds, and (iii) shall provide for the apportionment of all or a fc?Qortion of the c©`'` ncide" .:.:="to financing, administration and collecto of =; •ntractual aagSs- a •rogram among the consenting propert e ""=` d 7e•. <f` .;;•-:::i ter:_;__•- ..-,, ;,• A report on the results of the discusdo4.>_with th ounty ' . tor-,''eroller described in Section 10 hereof, concerning the ad•, ,_._al fe-"- .;x-any,_ Tat will be ` =d to CEDA for inclusion of the proposed contractual i'-@." menu , r 'general prop= y tax roll of the City, and a plan for financing the payment o i_ ees: r: .ids-•. Section 9. Nature �__,Nssessme = sme :vied pursuant to Chapter 29, and the interest and any penal `' k on, will Qrnstit ' ,lien against the lots and parcels of land on which they are made, un ae = r Laid. 'L less'611-IT, ise directed by CEDA, the assessments shall be collected' e` _ `ner an-v--at the same time as the general taxes fir.. --�-::; .;:;04, ;:� of the City on.rea , oierty are pa le, a a- ect to the same penalties and remedies and lien priorities in th=":"- - E39delinqu- and •- =gait. 10. ':;asulfaI `8- ,with t my Auditor-Controller. CEDA hereby directs g` the Pr•:e ''`'idministraVe, to:-:e`-----: 10 .=•_iscussions with the County Auditor-Controller in order to rea ,;agreement on `' �o itiona` =`es, if any,will be charged to CEDA for incorporating the pr `o sed contractual =}f essments into the assessments of the general taxes of the County on real :-:::>; -""<->9- Section 11-x,;,f_"r -ration of Current Roll of Assessment. Pursuant to Section 5898.24(c), CEDA hereby designates the Program Administrator as the responsible party for annually preparing the current roll of assessment obligations by assessor's parcel number on - property subject to a voluntary contractual assessment. Section 12. Procedures for Responding to Inquiries. The Program Administrator; shall establish procedures to promptly respond to inquiries concerning current and future estimated liability for a voluntary contractual assessment. Section 13. Effective Date. This resolution shall take effect immediately upon its ract") specifying the terms and conditions of the agreement between CEDA and a property owner. (c) A statement of CEDA's policies concerning contractual assessments including all ers participating in the Figtree PACE Program, shall advance available surplus funds from its treasury to cure any deficiency in the redemption fund to be created with respect to the indebtedness; provided, however, that this determination shall not prevent CEDA or any of its members from, in their sole discretion, so advancing funds. The Bonds may be refunded under Division 11.5 of the California Streets and Highways Code or other applicable laws permitting refunding, upon the