Laserfiche WebLink
CITY OF COLTON <br />AGENDA REPORT <br />For Council Meeting of JULY 1, 1997 <br />TO: Honorable Mayor and City Council <br />APPROVAL: Gracie Fernandez Harmon, Acting City Manager <br />FROM: Anna A. Vega, Finance DirectoO-��, <br />SUBJECT: Ordering the Levy for Assessments for Improvement District `A' <br />(James Sullivan Mutual Water Company) <br />DATE: June 24, 1997 <br />BACKGROUND <br />In 1988 the City of Colton adopted resolution #R-38-88, establishing a fiscal structure to <br />repay the loan associated with the reconstruction of water facilities of the James <br />Sullivan Mutual Water Company, Improvement District `A' and established a list of <br />unpaid assessments over a 35 year amortized payment schedule. <br />DISCUSSION/ANALYSIS <br />This is the ninth year of such assessment. However, the County requires an annual <br />resolution to apply the levy on the tax roll. <br />ALTERNATIVES <br />None. <br />FINANCIAL IMPACT <br />The levy of $30,392.92, which consists of 71 parcels, is necessary to pay the annual <br />debt service payments. <br />Anna A. Vega, Finance Dir c r <br />ENVIRONMENTAL IMPACT <br />None. <br />RECOMMENDATION <br />Approve the attached resolution authorizing the 1997-98 annual levy of tax <br />assessments for Improvement District `A' (James Sullivan Mutual Water Company). <br />Item # 7 <br />