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The foregoing rate shall be adjusted, effective as of July 1 of each fiscal year by the <br />Engineering News Record Construction Cost Index for the San Francisco Bay Area with a <br />maximum adjustment of two percent. <br />PROJECTED INCOME: <br />Annual Income (12 Single-Family Residential Lots) $9,360.00 <br />Open Space and Private Road Parcel $0.00 <br />Interest Income: $1,400 <br />TOTAL: $10,760.00 <br />PROJECTED EXPENDITURE: <br />Geologic and/or Geotechnical Engineering Consultant $2,987.00 <br />Repair and maintenance (per Plan of Control) $25,500.00 <br />City Review and Inspection $1,836.00 <br />Reserve <$19,563.00> <br />TOTAL: $10,760.00 <br />SECTION 5.The Board further orders that the amounts set forth above shall be <br />assessed against the property within the GHAD for the 2024-25 fiscal year. <br />SECTION 6.The Board further orders that said assessments shall be levied and <br />collected in the following manner: <br />(a) The City Clerk of the Board shall cause to be recorded a Notice of <br />Assessments, as provided for in California Streets and Highways Code §3114, <br />whereupon the assessments shall attach as a lien upon the property, as provided <br />in said Code. <br />(b) Thereafter, such assessments shall be payable at the same time and in the <br />same manner as general taxes on real property within the GHAD. <br />(c) All funds generated by such assessments, and all interest earned thereon, shall <br />be kept segregated and in a separate account for the exclusive benefit of the <br />Lemoine Ranch GHAD, and shall not be deemed at any time to constitute funds <br />credited to the City treasury. <br />SECTION 7.The City Attorney is authorized to enter into, on behalf of the City of <br />Pleasanton, a Certification and Mutual Indemnification Agreement with the County of Alameda in <br />order to effectuate the collection of special taxes, assessments and fees on the Secured Tax Roll. <br />SECTION 8.This Resolution shall become effective immediately upon its passage and <br />adoption. <br />PASSED, APPROVED AND ADOPTED by the City Council of the City of Pleasanton, acting as <br />Board of Directors of the Lemoine Ranch Geologic Hazard Abatement District, at a meeting held <br />on June 18, 2024. <br />Page 14 of 18