City Council
MEETING DATE: 10/11/2017
TITLE:
Title
Payoff of Sewer Assessments
End
FROM:
Tami E. Scott, Administrative Services Director
RECOMMENDATION:
Recommendation
Staff recommends the City Council authorize the payoff of certain identified sewer assessments from the AD2004-02 Improvement Fund.
Body
BACKGROUND:
Assessment District 2004-02 was formed in 2004 and bonds were issued in 2005 for the purposes of funding certain improvements to parcels within the district including but not limited to storm drains, sewer lines, water lines, streets, curbs & gutters etc.
DISCUSSION:
There were certain parcels that never received the streets, curbs, gutters and other improvements identified for the assessments as the area was not developed at that time. Under the assessment district act if parcels did not receive the benefit of the assessment the excess amounts must be used to pay off the assessments. The referenced amount required was reserved in the improvement fund for this purpose in an amount not to exceed $465,000 for the following parcels: 687196001 through 687201006; 687198001 through 687202006; 687199001 & 002; 687212001 through 687212011, 019, 022, 023 024 026 & 027; and 687201001 through 687201004.
FISCAL IMPACT:
There is no fiscal impact to the general fund as these amounts are due from the Assessment District 2004-02
ATTACHMENTS:
None