1997 AGN JUL 15 I18 - Laserfiche WebLink

Browse Search

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