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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 />RESOLUTION NO. R-52-08 <br />RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLTON, CALIFORNIA <br />DETERMINING AND AUTHORIZING THE ANNUAL LEVY OF TAX ASSESSMENT <br />FOR IMPROVEMENT DISTRICT `A' (JAMES SULLIVAN WATER COMPANY) <br />WHEREAS, the City Council of the City of Colton adopted Resolution No. R-38-88, <br />Establishing a <br />Fiscal Structure to Repay the Loan associated with Reconstruction of Water Facilities of the James <br />Sullivan <br />Mutual Water Company, Improvement District `A'; and <br />35 year WHEREAS, Resolution No. R-38-88, directed the establishment of unpaid assessments over a <br />amortized payment schedule and the filing thereof with the Tax Assessor and the Controller's Office <br />for the <br />County of San Bernardino, commencing in August 1988. <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of The City of Colton <br />as follows: <br />SECTION 1. Based upon the total loan amount of $370,800 and the ninety-one shares of <br />James Sullivan Mutual Water Company stock outstanding, the City has determined that the <br />amount of required tax to be levied per share for the 2008-2009 Fiscal Year is as shown on the <br />attached Exhibit "A". <br />SECTION 2. The City Clerk is instructed to file a certified copy of this resolution with the <br />San Bernardino County Tax Assessor. <br />PASSED APPROVED AND ADOPTED THIS 3rd DAY OF JUNE, 2008. <br />KELLY J., A_ TAIN <br />ATTEST: Mayor <br />(� 7 <br />AROLINA R. PADA. A, CMC <br />City Clerk <br />