1989 RES R-20-89 - Laserfiche WebLink

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1 2 3 4 5 A M 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 MI 27 M1 I I IIII JIV ANNUAL TAX INCREASE The above maximum special taxes are applicable for fiscal year 1989/90, and are subject to annual escalation at a rate not to exceed 2% per annum; however, any annual escalation on properties within the City of San Bernardino shall be levied only as necessary to pay for City of San Bernardino properties' proportionate share of the Annual Bond obligation. APPLICATION OF ANNUAL TAX FIRST, determine monies necessary to pay for Annual Bond Obligation on any outstanding bonds f o r Citrus Street Drainage Improvements. SECOND, levy annual special taxes against ALL properties within the Community Facilities District on a pro -rata basis for their annual proportionate share of said Annual Bond Obligation. THIRD, to the extent necessary, as authorized by the City Council of the City of Colton, levy additional special taxes on the City of Colton FINAL LAND USE PROPERTIES ONLY to pay for additional park improvements, street resurfacing and additional police protection services. TERM OF SPECIAL TAX SAN BERNARDINO: A. The special taxes as authorized shall be levied as long as necessary to pay for the costs and expenses of the Annual Bond Obligation, not to exceed 25 years from the date of the first levy. COLTON: A. The special taxes as authorized shall be levied as long necessary to pay for the costs and expenses of the Annual Bond Obligation, not to exceed 25 years from the date of the first levy. B. Continuing special taxes shall be levied as long as needed to pay for authorized public park improvements, street resurfacing and additional police protection services.