2010 RES R-47-10 - Laserfiche WebLink

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future tax years, except that the special tax rate to be levied shall not exceed that as set forth in ii Exhibit "A", but the special tax may be levied at a lower rate. 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 29 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; B. Necessary replenishment of bond reserve funds or other reserve funds; C. Payment of costs and expenses of authorized public facilities and services; 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 them Government Code of the State of California or until the special tax ceases to be levied by the Legislative body of the local Agency in the manner provided in Section 53330.5 of said Government Code. SECTION 7. This Resolution shall take effect upon its adoption under the specific authorization of Government Code Section 53340 and as the levy of taxes for the usual and current expenses of the District as provided by Government Code Section 36937 (d). SECTION 8. The City Clerk shall sign this Resolution and shall cause the same to be published within fifteen (15) days after its passage at least once in a newspaper of general circulation published and circulated in this City. PASSED, APPROVED AND ADOPTED THIS 201h DAY OF JULY 2010. KELLY J. C TAIN Mayor ATTEST: EILEEN C. GOMEZ City Clerk