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On April 1, 2003 the City Council approved an amendment to the Colton Municipal Code <br />increasing the powers and duties of the Community Facilities District Commission (CFD) to <br />include review of the LLMDs. The preliminary budget was presented to the CFD at their last <br />meeting, May 3, 2004. <br />FINANCIAL IMPACT: <br />The LLMD 1 budget for 2004/2005 prepared by Muni Financial is outlined in the annual Engineer's <br />Report, which is on file in the Office of the City Clerk as prescribed by law, shows that District 1 <br />will experience a shortfall of $56,354.00 that would need to be absorbed by the General Fund as <br />the reserve fund has been depleted. <br />ENVIRONMENTAL IMPACT: <br />None. <br />CONFLICT OF INTEREST — Gift Disclosure Requirements <br />Not Applicable. <br />RECOMMENDATION: <br />Staff recommends that the City Council adopt the following resolutions initiating proceedings for <br />the Colton Landscape and Lighting Maintenance Assessment District No. 1 for Fiscal Year <br />2004/2005, accepting the Preliminary Engineer's Report and setting the Public Hearing for all <br />concerns regarding this matter to be on June 29, 2004. <br />3 Attachments — 3 Resolutions <br />Prepared by: Maritza Tapia, Administrative Analyst — Public Works <br />REVIEW TEAM ONLY , - <br />3 City Attorney: Finance Director: <br />City Manager: OTHER: <br />