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Resolution No. GHAD 05-008 <br />Page Two <br /> <br />Section 3: The Board hereby orders that the costs and expenses of maintaining and operating the <br /> GHAD improvements shall be assessed against the property within the GHAD benefited <br /> thereby. <br /> <br />Section 4: The Board further confn'ms the assessments, as detailed in the above-referenced report <br /> submitted by the General Manager, and orders that the amount of said assessments <br /> levied against each parcel of property within the GHAD and benefited thereby, shall be <br /> as follows: <br /> <br /> Single Family Residential Lots $307 per annum <br /> Tracts 6400, 6590, 7045 <br /> Parcels A, B, D, F, G, H, I, N & O Tract 6400 <br /> Parcels A & B, Tract 6590 $-0- per annum <br /> City Water Reservoirs (2) $307 per annum <br /> <br /> The foregoing rate shall be adjusted, effective as of July 1 of each fiscal year, to the <br /> Consumer Price Index for All Urban Consumers, All Items, San Francisco-Oakland- <br /> San Jose Metropolitan Area (1982-84= 100) published by the United States Department <br /> of Labor, Bureau of Labor Statistics, or its successor index. <br /> <br />Section 5: The Board further orders that the amounts set forth above shall be assessed against the <br /> property within the GHAD for the 2005-2006 fiscal year and for subsequent fiscal <br /> years. <br /> <br />Section 6: The Board further orders that said assessments shall be levied and collected in the <br /> following manner: <br /> <br /> (a) The City Clerk of the Board shall cause to be recorded a notice of assessments, as <br /> provided for in Section 3114 of the California Streets and Highways Code, whereupon <br /> the assessments shall attach as a lien upon the property, as provided in said Section <br /> 3114 Streets and Highways Code. <br /> <br /> (b) Thereafter, such assessments shall be payable at the same time and in the same <br /> manner as general taxes on real property within the GHAD are payable. <br /> <br /> (c) All funds generated by such assessments, and all interest earned thereon, shall be <br /> kept segregated and in a separate account for the exclusive benefit of the Laurel Creek <br /> Estates GHAD, and shall not be deemed at any time to constitute funds credited to the <br /> City treasury. <br /> <br /> <br />