1992 ORD O-25-92 - Laserfiche WebLink

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KRW61346 1 not exempt from the special tax, proposed to be included within 2 the CFD; and 3 WHEREAS, on November 6, 1990, a special election was 4 held within the CFD (the "Election") in which all persons owning 5 real property within the boundaries of the CFD and voting at the 6 Election approved, by at least two-thirds (2/3) of the votes cast 7 at the Election, propositions relating to the incurring of bonded 8 indebtedness in an amount not to exceed $1010001000, the levying 9 of a special tax on all non exempt real property within the 10 boundaries of the CFD as set forth in the rate and method of 11 apportionment of the special tax, as defined below, (the "Special 12 Tax," and/or "Special Taxes") and the setting of an appropriations 13 limit within the CFD; and 14 WHEREAS, a "Notice of Special Tax Lien" for Community 15 Facilities District No. 90-1 (Mount Vernon Corridor) of the City 16 of Colton (the "Notice of Special Tax Lien") was filed with and 17 recorded by the County Recorder for the County of San Bernardino, 18 State of California pursuant to Section 3114.5 of the Streets and 19 Highways Code of the State of California; and 20 WHEREAS, all Special Taxes levied by the City are 21 secured by a continuing lien which shall continue in full force 22 and effect until the Special Tax obligation is prepaid, 23 permanently satisfied or cancelled in accordance with Section 24 53344 of the Act or until the Special Tax ceases to be levied by 25 the City Council in the manner provided in Section 53330.5 of the 26 Act; and 27 WHEREAS, the City has issued and sold $4,755,000 Commu- 28 nity Facilities District No. 90-1 (Mount Vernon Corridor) of the -2-