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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 Moller Ranch GHAD, and shall not be deemed at any time to constitute funds <br />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 Moller Ranch Geologic Hazard Abatement District, at a meeting <br />held on June 17, 2008. <br />I, Karen Diaz, Clerk for the Moller Ranch GHAD, certify that the foregoing resolution was <br />adopted by the Board of Directors at a meeting held on the 17th of June 2008, by the following <br />vote: <br />Ayes: Boardmembers -Cook-Kallio, McGovern, Sullivan, Thorne, Mayor Hosterman <br />Noes: None <br />Absent: None <br />~r <br />Kar n Diaz, Cle k rthe <br />M ler Ranch GRAD <br />APPROVED ASTO/FORM: <br />~~~Gf~LC ~~~ <br />Michael H. Roush, General Counsel <br />for the Moller Ranch GHAD <br />