AGENDA REPORT
REQUEST FOR CITY COUNCIL ACTION
DATE: 7/18/2018
TO: Honorable Mayor and City Council Members
FROM: Administrative Services Department
SUBJECT:
Title
City Council consideration to adopt Resolution No. 2018-070 levying special taxes to be collected during Fiscal Year 2018-19 for Community Facilities District No. 2017-2 (Valencia/Seville) Special Tax B.
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RECOMMENDED ACTION:
Recommended action
That the City Council adopt Resolution No. 2018-070 levying special taxes to be collected during Fiscal Year 2018-19 for the payment of annual cost of maintenance services within Community Facilities District No. 2017-2 (Valencia/Seville) Special Tax B.
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ANALYSIS:
It is necessary that the City Council levy special taxes for the payment of annual cost of maintenance and lighting of parks, parkways, streets, roads and open space, maintenance and operation of water quality improvements, public street sweeping and reserve fund for replacement within Community Facilities District No. 2017-2 Special Tax B (the "District"), pursuant to Section 53340 of the Government Code. Special taxes within the District are levied in an amount necessary to satisfy the Operation and Maintenance Special Tax Requirement, as defined in the District's Rate and Method of Apportionment (RMA). Any necessary replenishment or expenditure of the reserve funds and an amount estimated for administrative expenses during the year are included in the levy. The special taxes levied will not exceed the authorized amounts as provided in the RMA.
COMMITTEE ACTION:
Not Applicable.
STRATEGIC PLAN:
This item supports the City's Strategic Plan Goal 6: Improve Communications with Our Community; Objective a: Commit to transparency in all City actions. The recommended action will help achieve these goals by providing concise, forthright information regarding the annual special taxes that will be levied on each subject parcel within the District.
FISCAL IMPACT:
The following is a ...
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