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ITEM #18 <br />CITY OF COLTON <br />AGENDA REPORT <br />FOR THE COLTON UTILITY AUTHORITY MEETING OF SEPTEMBER 5, 2006 <br />TO: HONORABLE CHAIRPERSON AND UTILITY AUTHORITY <br />MEMBERS <br />FROM: ERIC R. FRASER, DIRECTOR OF WATER & WASTEWATER <br />OPERATIONS <br />SUBJECT: ORDERING THE LEVY FOR ASSESSMENTS FOR <br />IMPROVEMENT DISTRICT "A" (JAMES SULLIVAN MUTUAL <br />WATER COMPANY) <br />DATE: AUGUST 23, 2006 <br />BACKGROUND <br />In 1988 the City of Colton adopted resolution #R-38-88, establishing a fiscal structure to repay <br />the loan associated with the reconstruction of water facilities of the James Sullivan Mutual Water <br />Company, Improvement District `A' and establish a list of unpaid assessments over a 35 year <br />amortized payment schedule. <br />DISCUSSION/ ANALYSIS <br />This is the eighteenth year of such assessment. However, the County requires an annual <br />resolution to apply the levy on the tax roll. The 2006-07 levy is $30,397.92, covering 79 parcels <br />FINANCIAL IMPACT <br />There is no fiscal impact to the General Fund or any other fund administered by the City. The <br />revenue from the assessments is recorded in Acct. 364-5204 and the expenses in Acct. # 364- <br />7900-7900-2500 (Principal) and 364-7900-7900-2510 (Interest). The levy of $30,392.72, which <br />consists of 79 parcels, is necessary to pay the annual debt service. <br />ENVIRONMENTAL IMPACT <br />None <br />CONFLICT OF INTEREST — GIFT DISCLOSURE REQUIREMENT <br />Exact Business Name: None <br />President or Equal: <br />Contact: <br />ALTERNATIVES: <br />None <br />