City Council
MEETING DATE: 2/8/2017
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 $1.37 million for the following parcels: 687201005 through 687201011; 687202001 through 687202015; 687203008-687203015; 687204001 through 687204009; 687204013, 014,& 016; 687205005 through 687205008; 687206001 through 687206016; 687208022, 687208015; and 687208023 through 687208026 and 687201001-004.
FISCAL IMPACT:
There is no fiscal impact to the general fund as these amounts are due from the Assessment District 2004-02
ATTACHMENTS:
None