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Parcels A & B, Tract 6590 <br />Parcels B, D & E, Tract 6951 <br />City Water Reservoirs (2) <br />$-0- per annum <br />$340 per annum <br />The foregoing rate shall be adjusted, effective as of July 1 of each fiscal year, to the <br />Engineering News Record Construction Cost Index for the San Francisco Bay Area. <br />SECTION 5. The Board further orders that the amounts set forth above shall be <br />assessed against the property within the GRAD for the 2008-2009 fiscal year and for <br />subsequent fiscal years. <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 Section 3114 of the California Streets and <br />Highways Code, whereupon the assessments shall attach as a lien upon the <br />property, as provided in said Section 3114 Streets and Highways 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 are payable. <br />(c) All funds generated by such assessments, and all interest earned thereon, <br />shall be kept segregated and in a separate account for the exclusive benefit of <br />the Laurel Creek Estates GHAD, and shall not be deemed at any time to <br />constitute funds credited to the City treasury.. <br />SECTION 7. This resolution shall become effective immediately upon its passage and <br />adoption. <br />SECTION 8. Clerk of the Board shall certify to the passage of this resolution and enter <br />it into the book of original resolutions. <br />PASSED, APPROVED AND ADOPTED by the City Council of the City of Pleasanton, <br />as the Board of Directors of the Laurel Creek Estates Geologic Hazard Abatement District, at a <br />meeting held on June 17, 2008. <br />I, Karen Diaz, Clerk for the Laurel Creek Estates GRAD, certify that the foregoing <br />resolution was adopted by the Board of Directors at a meeting held on the 17th of June, 2008, <br />by the following vote: <br />Ayes: Boardmembers - <br />Noes: <br />Absent: <br />Abstain: <br />Karen Diaz, Clerk for the <br />Laurel Creek Estates GRAD <br />