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City of Colton <br />AGENDA REPORT <br />FOR COUNCIL MEETING OF JUNE 20, 2000 <br />TO: HONORABLE MAYOR AND CITY COUNCIL <br />APPROVAL: HENRY T. GARCIA, CITY MANAGER <br />FROM: AL HOLLIMAN, FINANCE DIRECTOR <br />SUBJECT: ORDERING THE LEVY FOR ASSESSMENTS FOR IMPROVEMENT DISTRICT `A' <br />(JAMES SULLIVAN MUTUAL WATER COMPANY) <br />DATE: MAY 31, 2000 <br />BACKGROUND: <br />In 1988 the City of Colton adopted resolution #R-38-88, establishing a fiscal structure to repay the loan associated with the <br />reconstruction of water facilities of the Jaynes Sullivan Mutual Water Company, Improvement District 'A'. The loan mount was <br />based upon unpaid assessments totaling $1,063,927. A 35 year repayment schedule was approved. <br />DISCUSSION/ANALYIS: <br />This is the twelfth year of such assessment. However, the County requires an annual resolution to apply the levy on the tax roll. The <br />2000-2001 levy is $30,397.92, covering 79 parcels. <br />ALTERNATIVES: None. <br />ENVIRONMENTAL IMPACT: None. <br />FINANCIAL IMPACT: <br />There is no fiscal impact to the General Fund or any other fund administered by the City. The revenue from the assessments are <br />recorded in Acct. 364-5204 and the expenses in Acct. # 364-7900-7900-2500 (Principal) and 364-7900-7900-2510 (Interest). <br />RECOMMENDATION: <br />Approve the attached resolution authorizing the 1999-2000 annual levy of tax assessments for Improvement District 'A' (lames <br />Sullivan Mutual Water Company), <br />Report Prepared by: Dilu de Alwis <br />Item #15 <br />