1992 AGN AUG 04 I33 - Laserfiche WebLink

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1 2 3 4 5 6 7 8 9 10 11 12, 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 KRW61346 II not exempt from the special tax, proposed to be included within 11 the CFD; and WHEREAS, on November 6, 1990, a special election was held within the CFD (the "Election") in which all persons owning real property within the boundaries of the CFD and voting at the Election approved, by at least two-thirds (2/3) of the votes cast at the Election, propositions relating to the incurring of bonded indebtedness in an amount not to exceed $10,000,000, the levying of a special tax on all non exempt real property within the boundaries of the CFD as set forth in the rate and method of apportionment of the special tax, as defined below, (the "Special Tax," and/or "Special Taxes") and the setting of an appropriations limit within the CFD; and WHEREAS, a "Notice of Special Tax Lien" for Community Facilities District No. 90-1 (Mount Vernon Corridor) of the City of Colton (the "Notice of Special Tax Lien") was filed with and recorded by the County Recorder for the County of San Bernardino, State of California pursuant to Section 3114.5 of the Streets and Highways Code of the State of California; and WHEREAS, all Special Taxes levied by the City are secured by a continuing lien which shall continue in full force and effect until the Special Tax obligation is prepaid, permanently satisfied or cancelled in accordance with Section 53344 of the Act or until the Special Tax ceases to be levied by the City Council in the manner provided in Section 53330.5 of the Act; and WHEREAS, the City has issued and sold $4,755,000 Commu- nity Facilities District No. 90-1 (Mount Vernon Corridor) of the -2-