Resolution 14458CITY OF ALAMEDA RESOLUTION NO. 14458
ADOPTING REASSESSMENT REPORT FOR THE CITY OF ALAMEDA
MARINA VILLAGE REASSESSMENT DISTRICT NO. 10 -1,
CONFIRMING AND ORDERING THE REASSESSMENTS AND
DIRECTING ACTIONS WITH RESPECT THERETO
WHEREAS, this City Council has adopted a Resolution of Intention to
Levy Reassessments and to Issue Refunding Bonds Upon the Security Thereof
Relating to the City of Alameda Marina Village Assessment District 89 -1 (the
"Resolution of Intention "), wherein this City Council directed the making and
filing of a reassessment report (the "Report ") in accordance with and pursuant
to the Refunding Act of 1984 for 1915 Improvement Act Bonds, Division 11.5 of
the California Streets and Highways Code (the "Act "); and
WHEREAS, this City Council has determined that in order to reduce
future assessment levies on property in the City of Alameda Marina Village
Assessment District 89 -1 (the "Assessment District ") it is desirable and that the
public interest requires the refunding of the outstanding Limited Obligation
Improvement Bonds, City of Alameda Marina Village Assessment District 89 -1,
Series 89 -1 (the "Prior Bonds ") issued for the Assessment District and the levy
of reassessments as security for refunding improvement bonds the proceeds of
which will be used to refund the Prior Bonds; and
WHEREAS, the Report was duly made and filed, and duly considered by
this City Council and found to be sufficient in every particular, and the Report
shall stand for all subsequent proceedings pertaining to the City of Alameda
Marina Village Reassessment District No 10 -1 identified therein (the
"Reassessment District ") under and pursuant to the Resolution of Intention; and
WHEREAS, the City desires to issue refunding bonds (the "Refunding
Bonds ") for the Reassessment District pursuant to the Act, the proceeds of
which Refunding Bonds will be used to refund the outstanding Prior Bonds.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF ALAMEDA as follows:
Section 1. Pursuant to Section 9525 of the Act and based upon the
Report, this City Council finds that all of the following conditions are satisfied:
(a) each estimated annual installment of principal and
interest on the reassessment, as set forth in the Report, is less than the
corresponding annual installment of principal and interest on the portion
of the original assessment being superseded and supplanted as also set
forth in the Report, by the same percentage for all subdivisions of land
with the Reassessment District;
(b) the number of years to maturity of the Refunding Bonds
proposed to be issued under the Resolution of Intention for the
Reassessment District is not more than the number of years to the last
maturity of the Prior Bonds; and
(c) the principal amount of the reassessment on each
subdivision of land within the Reassessment District is less than the
unpaid principal amount of the portion of the original assessment being
superseded and supplanted by the same percentage for each
subdivision of and in the Reassessment District.
Section 2. The public interest, convenience and necessity require that
the reassessment for the Reassessment District be made.
Section 3. The Reassessment District benefited by the reassessment on
the land therein and to be reassessed to pay the costs and expenses thereof,
and the exterior boundaries thereof, are as shown by the reassessment
diagram on file in the office of the City Clerk, which diagram is made a part of
this Resolution by this reference thereto.
Section 4. Pursuant to the findings above with respect to Section 9525
of the Act, the conditions set forth therein for the reassessment are deemed
satisfied and the following elements of the Report are hereby finally approved
and confirmed without further proceedings, including without the conduct of a
public hearing under the Act, to wit:
(a) a schedule setting forth the unpaid principal and
interest on the Prior Bonds and the total amounts thereof;
(b) an estimate of the principal amount of the
reassessment and of the issue of the Refunding Bonds and the
maximum interest rate thereon, together with an estimate of cost of the
applicable reassessment and of issuing the Refunding Bonds, including
expenses incidental thereto;
(c) the auditor's record kept pursuant to Section 8682 of
the California Streets and Highways Code showing the respective
schedule of principal installments and interest on all unpaid original
assessments and the total amounts thereof;
(d) the estimated amount of each reassessment, identified
by reassessment number corresponding to the reassessment number of
the reassessment diagram, together with a proposed auditor's record for
the reassessment prepared in the manner described in said Section
8682; and
(e) a reassessment diagram showing the Reassessment
District and the boundaries and dimensions of the subdivisions of land
therein, assigning a separate number to each such subdivision of land.
Final adoption and approval of the Report as a whole, including the
estimate of the costs and expenses, the reassessment diagram and the
reassessment, as contained in the Report, as hereinabove determined and
ordered, is intended to and shall refer and apply to the Report, or any portion
thereof, as amended, modified, revised or corrected by, or pursuant to and in
accordance with, any resolution or order, if any, duly adopted or made by this
City Council, or by the City Manager as authorized pursuant to Sections 6 and 9
below.
Section 5. Based on the oral and documentary evidence, including the
Report, offered and received by this City Council, this City Council expressly
finds and determines:
(a) that each of said several subdivisions of land within the
Reassessment District will be specially benefited by the reassessment at
least in the amount, if not more than the amount, of the reassessment
apportioned against said subdivisions of land, respectively, and
(b) that there is substantial evidence to support, and the
weight of said evidence preponderates in favor of, the aforesaid finding
and determination as to special benefits.
Section 6. The reassessment for the Reassessment District, including
all costs and expenses thereof, is hereby approved, confirmed and levied.
Pursuant to the provisions of the Act, reference is hereby made to the
Resolution of Intention for further particulars. The reassessment for the
Reassessment District shall be reduced in the event that the City Manager
determines that to do so is necessary and advisable to further the purposes of
this Resolution, and if such determination is made, the City Manager is hereby
authorized and directed to record said reduced reassessment in the manner set
forth in Section 9 hereof, and to take any further actions required to finalize said
reduction, without further action of this City Council.
Section 7. The City Clerk shall forthwith cause:
(a) the reassessment for the Reassessment District to be
delivered to the official of the City who acts as the Superintendent of
Streets of the City, together with the reassessment diagram, as
approved and confirmed by this City Council, with a certificate of such
confirmation and of the date thereof, executed by the City Clerk,
attached thereto. The Superintendent of Streets shall record the
reassessments and the reassessment diagram in a suitable book to be
kept for that purpose, and append thereto a certificate of the date of
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such recording, and such recordation shall be and constitute the
reassessment roll for the Reassessment District;
(b) a copy of the reassessment diagram and a notice of
reassessment for the Reassessment District, in the form specified in
Section 3114 of the California Streets and Highways Code and executed
by the City Clerk, to be filed and recorded, respectively, in the office of
the County Recorder of the County of Alameda; and
(c) a copy of this Resolution to be provided to the Auditor
of the County of Alameda.
From the date of recording of the notice of reassessment for the
Reassessment District, all persons shall be deemed to have notice of the
contents of such reassessment for the Reassessment District, and each
reassessment shall thereupon be a lien upon the property against which it is
made, and, unless sooner discharged, such liens shall so continue for the
period of ten (10) years from the date of said recordation, or in the event bonds
are issued to represent the reassessments, until the expiration of four (4) years
after the due date of the last installment upon the bonds or of the last
installment of principal of the bonds.
The appropriate officer or officers of the City are hereby authorized to
pay any and all fees required by law in connection with the above.
Section 8. The City Finance Director (or other appropriate City Official)
shall keep the record showing the several installments of principal and interest
on the reassessments which are to be collected each year during the term of
the Refunding Bonds. An annual apportionment of each reassessment,
together with annual interest on said reassessment, shall be payable in the
same manner and at the same time and in the same installments as the
general ad valorem property taxes and shall be payable and if not paid shall
become delinquent at the same time and in the same proportionate amount.
Each year the annual installments shall be submitted to the County Auditor-
Controller for purposes of collection, and the County Auditor - Controller shall, at
the close of the tax collecting period, promptly render to the City Finance
Director (or other appropriate City Official) a detailed report showing the
amount of such installments, interest, penalties and percentages so collected.
Section 9. The City Manager is hereby authorized and directed (a) to
revise the Report to reduce the applicable reassessments, as confirmed
pursuant to Section 6 hereof, if and to the extent necessary so that the
aggregate amount thereof does not exceed the initial principal amount of the
Refunding Bonds, (b) to amend the applicable reassessment and
reassessment diagram to reflect such reductions, and (c) to promptly record the
applicable reassessment, together with the applicable reassessment diagram,
as so amended, in the office of the Superintendent of Streets of the City.
Immediately thereafter, a copy of the respective reassessment diagram, as so
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amended, shall be filed in the office of the County Recorder and a Notice of
Reassessment, referring to said diagram, shall be recorded in the office of the
County Recorder, all pursuant to the provisions of Division 4.5 of the California
Streets and Highways Code.
Section 10. This Resolution shall take effect upon its adoption by this
City Council.
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I, the undersigned, hereby certify that the foregoing Resolution was duly and
regularly adopted and passed by the Council of the City of Alameda during the Regular
Meeting of the City Council on the 15th ay of June, 2010, by the following vote to wit:
AYES: Councilmembers deHaan, Gilmore, Matarrese, Tam
and Mayor Johnson - 5.
NOES: None.
ABSENT: None.
ABSTENTIONS: None.
IN WITNESS, WHEREOF, I have hereunto set my hand and affixed the official seal of
said City this 16th day of June, 2010.
City of Alameda