RES CC 2006 2546 2006 1206 - Laserfiche WebLink

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Resolution No. 2006 -2546 Page 2 SECTION 4. Reference is hereby made to the Report for a full and detailed description of the Improvements, the boundaries of the District and the proposed assessments upon assessable lots and parcels of land within the District. The assessment is subject to an annual adjustment tied to the Consumer Price Index for the Los Angeles Area as of December of each succeeding year (the CPI). In the event that the actual assessment rate for any given year is not increased by an amount equal to the CPI change, any such deferred assessment increase may be added to the total amount assessed in any subsequent year. In such event, the maximum authorized assessment amount shall be equal to the base year assessment as adjusted by the increase to the CPI, plus any and all CPI adjustments deferred in any and all prior years. Including the authorized annual adjustment, the maximum and proposed fiscal year 2007 -08 assessment rate per equivalent dwelling unit is $2,211.04. SECTION 5. The public hearing shall be held, before the City Council, in the City Council Chambers of the City of Moorpark, located at 799 Moorpark Avenue, Moorpark, California 93021 as follows: on January 17, 2007, at the hour of 7:00 p.m. for the purpose of determining whether the public interest, convenience and necessity require the improvements and the City Council's final action upon the Engineer's Report and the assessments therein. SECTION 6. In order to expedite the proceedings, the property owners have submitted a Petition and Waiver. In submitting these documents to the City, the property owners (1) request that the new assessment district be formed; and (2) waive all rights conferred by Proposition 218 respec o the approval of the new assessment by mailed ballot and the 4 ay time period fo alloting. SECTION 7. The City CI shall certify to the adop i n f this esolution and shall cause a certified resolutio to be filed in the book of on esolut' ns. PASSED AND ADOPTED this 6th day of Dece ATTEST: Deborah S. Traffenstedt, My Clerk