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Resolution No. 2019-3807 <br /> Page 3 <br /> year (the "CPI"), with a maximum annual adjustment not to exceed 3.00%. Any change <br /> in the CPI in excess of 3% shall be cumulatively reserved as the "Unused CPI" and shall <br /> be used to increase the maximum authorized assessment rate in years in which the CPI <br /> is less than 3.00%. The maximum authorized assessment rate is equal to the maximum <br /> assessment rate in the first fiscal year the assessment was levied adjusted annually by <br /> the minimum of 1) 3.00% or 2) the change in the CPI plus any Unused CPI as described <br /> above. <br /> The change in the CPI from December 2017 to December 2018 was 3.24%. <br /> Therefore, the maximum authorized assessment rate for fiscal year 2019/2020 is <br /> increased by 3.00% which equates to $63.33 per single family equivalent benefit unit. <br /> The estimate of cost and budget in the Engineer's Report proposes assessments for <br /> fiscal year 2019/2020 at the rate of$63.33 <br /> SECTION 6. Notice is hereby given that on June 5, 2019, at the hour of 6:30 p.m. <br /> in the Community Center Apricot Room, located at 799 Moorpark Avenue, Moorpark, <br /> California 93021, the Council will hold a public hearing to consider the ordering of the <br /> improvements and the continuation of the proposed assessments. <br /> SECTION 7. Prior to the conclusion of the hearing, any interested person may file <br /> a written protest with the City Clerk, or, having previously filed a protest, may file a written <br /> withdrawal of that protest. A written protest shall state all grounds of objection. A protest <br /> by a property owner shall contain a description sufficient to identify the property owned by <br /> such owner. Such protest or withdrawal of protest should be mailed to SCI Consulting <br /> Group, 4745 Mangels Blvd., Fairfield, CA 94534. <br /> SECTION 8. The City Clerk shall cause a notice of the hearing to be given by <br /> publishing a copy of this resolution once, at least ten (10) days prior to the date of the <br /> hearing above specified, in a newspaper circulated in the City of Moorpark. <br /> SECTION 9. The City Clerk shall certify to the adoption of this resolution and shall <br /> cause a certified resolution to be filed in the book of original resolutions. <br /> PASSED AND ADOPTED this 1st day of May, 2019. <br /> A1C)/ 4 v <br /> J. ice S. Parvin, Mayor <br /> ATTEST: C --�- <br /> ._J��1� o�o-�P� �z <br /> Deborah S. Traffenstedt Z44.." 'v <br /> Assistant City Manager/City Clerk 49 `111 v <br /> �/ <br /> Agrto sV•, <br />