HomeMy WebLinkAbout20710 - RESOLUTIONS - 9/3/2003 RESOLUTION NO. 2010 '
OF THE CITY COUNCIL OF THE CITY OF PALM SPRINGS,
CALIFORNIA, DETERMINING UNPAID ASSESSMENTS IN
ASSESSMENT DISTRICT NO. 161 (MOUNTAIN GATE)
WHEREAS, the Finance Director (the "Finance Director") of the City of Palm Springs (the "City")
has filed with the City Clerk a list of paid and unpaid assessments for Assessment District No.
161 (Mountain Gate), a copy of which list is attached to this resolution as Exhibit A and by this
reference incorporated herein, certifying that 30-day period during which to pay such
assessment has been waived by unanimous consent of the owners of property in Assessment
District No. 161 (Mountain Gate) and that no cash payments were received, and that the
amount of assessments remaining unpaid is equal to the amount of assessments levied; and
WHEREAS, the City Council of the City (the "City Council") wishes to establish said amount as
the amount of unpaid assessments and to ratify the amount of not to exceed $5,375,250 as the
principal amount of limited obligation improvement bonds authorized and issued in these
proceedings upon the security of said unpaid assessments.
NOW THEREFORE BE IT RESOLVED by the City Council of the City of Palm Springs,
California as follows:
SECTION 1. Assessments Unpaid. This Council hereby finds and determines that, as set '
forth in the attached List of Unpaid Assessments, and there being no information
to the contrary, the amount of assessments remaining unpaid in Assessment
District No. 161 (Mountain Gate) is the amount set forth in said List of Unpaid
Assessments, and by separate resolution, this Council has authorized the
issuance of limited obligation improvement bonds of the City in a principal
amount to be established on the basis of said unpaid assessments. The principal
amount of bonds to be issued shall be equal to the amount of assessments
levied, rounded down, if necessary, to the nearest $5,000.
SECTION 2. Transmittal to County Auditor. The City Clerk is hereby directed to transmit a
copy of this resolution to the County Auditor-Controller of the County of
Riverside, and said County Auditor is requested to proceed in accordance with
Section 8682 of the California Streets and Highways Code in the collection of
installments of these assessments and the interest thereon on the secured
property tax assessment roll of the County, commencing with the 2004-05 tax
roll.
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SECTION 3. Effective Date. This Resolution shall take effect immediately upon adoption.
ADOPTED this 3 d day of September, 2003.
AYES: Members Hodges, Reller-Spurgin and Mayor .13ro tem Oden
NOES: None
ABSENT: Member Mills and Mayor Kleindienst
ATTEST CITY OF PALM SPRINGS, CALIFORNIA
City Clerk City Manager
REVIEWED & APPROVED AS TO FORM
City Attorney
1003/008124960 v1 2
Resolution 2.0710
Page 3
EXHIBIT A '
CITY OF PALM SPRINGS
ASSESSMENT DISTRICT NO. 161
(MOUNTAIN GATE)
CERTIFICATE OF
PAID AND UNPAID ASSESSMENTS,
I HEREBY CERTIFY that (1) the 30-day cash collection period during which
assessments may be paid in cash has been waived by unanimous consent of property owners
in A.D. No. 161, and no cash payments have been received in Assessment District No. 161
(Mountain Gate), City of Palm Springs, California, and (2) that the amount of assessments
remaining unpaid in Assessment District No. 161 (Mountain Gate) is therefore equal to the
principal amount of assessments levied, as indicated on Exhibit A attached hereto.
Executed at Palm Springs, California, on 4 rd-:2 6 2003.
Tom Kanarr
Finance Director
City of Palrn Springs
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CITY OF PALM SPRINGS
ASSESSMENT DISTRICT NO. 161
(MOUNTAIN GATE)
LIST OF PAID AND UNPAID ASSESSMENTS
Assessment Assessor's Parcel Confirmed
Number Number Parcel Owner Assessment
Amount
00001 669-340-001-9 Mountain Gate Palm Springs $4,873,600.00
Ventures, LLC
00002 669-371-002-6 Mountain Gate Palm Springs $ 0.00
Ventures, LLC
TOTAL $4,873,600.00
' PAID ASSESSMENT: $0.00
UNPAID ASSESSMENTS: $4,873,600.00
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