2006 RES R-100-06 - Laserfiche WebLink

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i 2 3' 4 5 b 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 SECTION 2. That the City Council does, by the passage of this resolution, authorize the levy of special taxes for fiscal year 2006-2007 at the rate and formula as set forth in Exhibit "A" attached hereto, referenced and so incorporated. SECTION 3. That the City Council is hereby further authorized, by Resolution, to determine the specific special tax rate and 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. SECTION 4. The proceeds of the above authorized and levied special tax may only be used to pay, in whole or in part, the costs of the following: A. Payment of principal of and interest on any outstanding authorized bonded indebtedness of the District; B. Necessary replenishment of bond reserve funds or other reserve funds of the District; C. Payment of costs and expenses of authorized public facilities of the District; D. Repayment of advances and loans, as appropriate; and E. Payment of District administrative costs. The proceeds of the special tax shall be used as set forth above, and shall not be used for any other purpose. SECTION 5. The above authorized special tax shall be collected in the same manner as ordinary ad valorem taxes are collected and shall be subject to the same penalties and the same procedure, sale and lien priority in case of delinquency as is provided for ad valorem taxes, and the Tax Collector is hereby authorized to deduct reasonable administrative costs incurred in collecting any such special tax. SECTION 6. The above authorized special tax shall be secured by the lien imposed pursuant to Sections 3114.5 and 3115.5 of the Streets and Highways Code of the State of California, which lien shall be a continuing lien and shall secure each levy of the special tax. The lien of the special tax shall continue in force and effect until the special tax obligation is prepaid, permanently satisfied and canceled in accordance with Section 53344 of the Government Code of the State of California or until the special tax ceases to be levied by the City Council in the manner provided in Section 53330.5 of said Government Code. Page 2