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