HomeMy WebLinkAboutReso 94-109 - Ordering Change of Proceedings without notice or hearing to reduce assessment (Tierra Oaks Assessment Dist No 1993-1) • •
RESOLUTION NO.
RESOLUTION ORDERING CHANGE OF PROCEEDINGS
WITHOUT NOTICE OR HEARING TO REDUCE ASSESSMENT
(Tierra Oaks Assessment District No. 1993-1)
The City Council of the City of Redding resolves:
On April 5, 1994, the City Council approved the Amended
Engineer's Report and authorized the issuance of its Limited
Obligation Improvement Bonds in Tierra Oaks Assessment District
No. 1993-1 in the principal amount of $3,838,057.68.
The City Council hereby finds that Assessment No. 98
(Parcel No. 306-59-14) is located in a common area and determines
to reduce the assessment on said parcel to $0.00, resulting in a
reduction in the total assessment from $3,838,057.68 to
$3,823,353.31. Pursuant to Section 10352 of the Streets and
Highways Code, this Council hereby orders change of proceedings
without notice or hearing to reduce the assessment on Assessment
No. 98 from $14,704.37 to $0.00 and to modify the Amended
Engineer's Report as follows:
(1) Exhibit B - Cost Estimate (Page 9)
(a) Contingency (under Item No. 10, Incidental Assessment
District Costs) - to be reduced by $14,704 . 37, i.e.
from $80, 000. 00 to $65,295.63;
(b) Total assessment - to be reduced by $14,704. 37, i.e.
from $3,838,057.68 to $3,823,353 .31.
(2) Exhibit C - Assessment Roll (Page 13)
(a) Assessment No. 98 - assessment to be reduced from
$14,704. 37 to $0. 00;
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SF2-29323.1 --
(b) Total amount of assessment - to be reduced by
$14,704. 37, i.e. from $3,838,057. 68 to $3,823, 353 .31.
This City Council hereby directs the City Clerk to file
a copy of the Exhibit B (page 9) and Exhibit C (page 13) , as
revised, in each copy of the Amended Engineer's Report.
This City Council hereby directs the City Clerk to
cause the preparation and recording of an appropriate amended
notice of assessment to reflect the reduced amount of assessment.
I HEREBY CERTIFY that the foregoing resolution was duly
and regularly adopted by the City Council of the City of Redding,
Shasta County, California, at a regular meeting thereof, held on
the 19th day of April, 1994.
AYES• Councilmembers P. Anderson, Kehoe, McGeorge, Plurray and R. Anderson
NOES: Councilmembers None
ABSENT: Councilmembers None
CONNIE STROHMAYER, City Clerk,
City of Redding, Shasta County,
California
By
&eglzzza�
SF2-29323.1 2
{
REYISM 4/19/94
EXHIBIT"B" - TIERRA OAKS ASSESSMENT DISTRICT NO. 1993-1
A58ESSME.3 E}ESTRiCT.SUIRAA . . ............... ;€: ::.: ;:
ARY.......:.:...:... .....: ..... :.:...:.. ...:.,.:.:.:.:.,.:::TOTALS:::::.:::
WIDENING OLD OREGON TRAIL $128,653.00
OFFSITE SEWER $515,605.05
ADJACENT SEWER $313,414.84
UNIT#2 IMPROVEMENTS/ASSESSMENT DISTRICT $16,869.60
UNIT#3 IMPROVEMENTS/ASSESSMENT DISTRICT $382,321.25
OFFSITE SITE NATURAL GAS EXTENTION $207,113.28
GENERAL UTILITY 8 DRAINAGE $697,706,00
OFFSITE NATURAL GAS EXTENTION/P G 8 E FEE $132,856.17
GENERAL INCIDENTAL EXPENSES $470,963.00
TOTAL SUMMARY: $2,865,502.19
G.:.INCOENTALASSESSMENT DISTRICT:COSTS. .. .
TOTALS...
LEGAL FEE 1.0%OF TOTAL $38,380.58
BOND COUNSEL OUT OF POCKET $9,466.26
BONDS AND OFFICIAL STATEMENT $10,000,00
BOND RESERVE 8.0%OF TOTAL $307,044.61
BOND DISCOUNT 2.0%OF TOTAL $76,761.15
CONTINGENCY $N,WG.W f 65,295.63
ENGINEERING-(DESIGN,CONST.STAKING,ASSESSMENT DISTRICT) $182,000.00
FINANCIAL ADVISOR FEE $15,000+0.5%OF TOTAL $34,190.29
APPRAISAL FEE $8,500,00
CITY ENGINEERING-PLAN CHECK 8 INSPECTION FEE $30,000.00
CITY ADMINISTRATION COSTS-DPW $19,190.29
CITY TREASURER AND FINANCE DEPT. 1.0%OF TOTAL $38,380.58
CITY CLERK $1,000.00
TITLE COMPANY FEES $2,500,00
CAPITALIZED INTEREST 3.0%OF TOTAL $115,141.73
BOND SERVICE COSTS $20,000,00
TOTAL COSTS: 59?2,666-40 $ 957,851.1
TOTAL FOR ASSESSMENT DISTRICT: 113,$36,06;4 t 3,823,353.3
9
1011M.c REVISED 4/19/94
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