1996 ORD O-22-96 - Laserfiche WebLink

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I SECTION 3. That the City Council is hereby further authorized, by Resolution, to 2 determine the specific special tax rate and amount to be levied for the then current tax year 3 or future tax years, except that the special tax rate to be levied shall not exceed that as set 4 forth in Exhibit "A", but the special tax may be levied at a lower rate. 5 6 SECTION 4. The proceeds of the above authorized and levied special tax may only 7 be used to pay, in whole or in part, the costs of the following: 8 A. Payment of principal of and interest on any outstanding authorized bonded 9 indebtedness; 10 B. Necessary replenishment of bond reserve funds or other reserve funds; 11 C. Payment of costs and expenses of authorized public facilities; 12 D. Repayment of advances and loans, as appropriate; and 13 E. Payment of District administrative costs. 14 The proceeds of the special tax shall be used as set forth above, and shall not be used 15 for any other purpose. 16 17 SECTION 5.The above authorized special tax shall be collected in the same manner as 18 ordinary ad valorem taxes are collected and shall be subject to the same penalties and the 19 same procedure, sale and lien priority in case of delinquency as is provided for ad valorem 20 taxes, and the Tax Collector is hereby authorized to deduct reasonable administrative costs 21 incurred in collecting any such special tax. 22 23 SECTION 6.The above authorized special tax shall be secured by the lien imposed 24 pursuant to Sections 3114.5 and 3115.5 of the Streets and Highways Code of the State of 25 California, which lien shall be a continuing lien and shall secure each levy of the special tax. 26 The lien of the special tax shall continue in force and effect until the special tax obligation is 27 prepaid, permanently satisfied and cancelled in accordance with Section 53344 of the 28 1 Government Code of the State of California or until the special tax ceases to be levied by the