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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 />29 <br />SECTION 2. That the City Council does, by the passage of this resolution, <br />authorize the levy of special taxes for fiscal year 2006-2007 at the rate and formula as set forth <br />in Exhibit "A" attached hereto, referenced and so incorporated. <br />SECTION 3. That the City Council is hereby further authorized, by <br />Resolution, to determine the specific special tax rate and amount to be levied for the then <br />current tax year or future tax years, except that the special tax rate to be levied shall not exceed <br />that as set 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 levied special tax <br />may only be used to pay, in whole or in part, the costs of the following: <br />A. Payment of principal of and interest on any outstanding authorized <br />bonded indebtedness of the District; <br />B. Necessary replenishment of bond reserve funds or other reserve funds of <br />the District; <br />C. Payment of costs and expenses of authorized public facilities of the <br />District, <br />D. Repayment of advances and loans, as appropriate; and <br />E. Payment of District administrative costs. <br />The proceeds of the special tax shall be used as set forth above, and shall <br />not be used for any other purpose. <br />SECTION 5. The above authorized special tax shall be collected in the same <br />manner as ordinary ad valorem taxes are collected and shall be subject to the same penalties <br />and the same procedure, sale and lien priority in case of delinquency as is provided for ad <br />valorem taxes, and the Tax Collector is hereby authorized to deduct reasonable administrative <br />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 the Streets and <br />Highways Code of the State of California, which lien shall be a continuing lien and shall secure <br />each levy of the special tax. The lien of the special tax shall continue in force and effect until <br />the special tax obligation is prepaid, permanently satisfied and canceled in accordance with <br />Section 53344 of the Government Code of the State of California or until the special tax ceases <br />to be levied by the City Council in the manner provided in Section 53330.5 of said Government <br />Code. <br />Page 2 <br />