Laserfiche WebLink
CITY OF COLTON <br />AGENDA REPORT <br />For Council Meeting of July 16, 1996 <br />TO: Honorable Mayor and City Council <br />APPROVAL: Nabar Enrique Martinez, City Manager <br />FROM: Anna A. Vega, Finance DirectorG-� <br />SUBJECT: Resolution Authorizing the Annual Levying of Assessments for <br />Improvement District "A" (James Sullivan Mutual Water Company) <br />DATE: July 10, 1996 <br />In January 1987, the City of Colton entered into an Agreement with the James Sullivan Mutual Water Company <br />with regard to Sullivan Water transferring and the City accepting the assets and properties which comprise the <br />James Sullivan Water System contingent on the water facilities being upgraded. The upgrades were <br />accomplished and financed through a loan from the State of California. <br />A Special Election was held on February 9, 1988, for the purpose of determining whether the City of Colton <br />should be authorized to levy a special tax upon all taxable real property within Improvement District 'A", James <br />Sullivan Mutual Water Company. The Election was held among the shareholders of taxable real property and <br />was unanimously passed. The election established a fiscal structure to repay the State of California loan <br />associated with the reconstruction of the water facilities. <br />DISCUSSION/ANALYSIS <br />Levying of the Special Tax on all unpaid assessments must be done on an annual basis. Staff has prepared a <br />resolution and an assessment schedule to levy the 1996-97 Special Tax. <br />ALTERNATIVES <br />None. <br />FINANCIAL IMPACT <br />The Special Tax provi es the funds for the loan payments to the State per agreement. <br />Anna A. Vega, Finance Dir or <br />ENVIRONMENTAL IMPACT <br />None. <br />RECOMMENDATION <br />Staff recommends City Council approval of the attached resolution and tax schedule. <br />Attachment: Resolution <br />Prepared by: Brenda Ridens <br />Item No. 5 <br />