12-08 - Laserfiche WebLink

Home Browse Search

• • 6. The City Council directs staff to prepare an Engineer's report for the proposed assessments to the benefited property owners for the benefit of the Assessment District and authorizes staff to execute all agreements with bond counsel, a financial consultant and other professionals, as appropriate,to begin the Assessment District formation process. The Engineer's Report will be presented in a separate resolution to the City Council for approval and initiation of proceedings to authorize the assessment and sell bonds, all in accordance with the procedures set forth in state law. All costs associated with the new improvements, including engineering, legal and other Professional expenses, staff expenses and connection fees for the benefited parcels will be chargeable to and paid for from Assessment District funds. The construction of the improvements will not affect the City's general fund. 7. The City Council directs staff to prepare for review and signature by a majority of the affected property owners a reimbursement agreement for all costs, including preparation of the engineer's report, staff time and legal expenses, that will be incurred to prepare all of the materials to form the Assessment District before any work is started following the City Council's action. The reimbursement agreement shall also include a provision that if a majority of benefited parcel owners vote in favor of formation of the Assessment District,then upon formation of the Assessment District and issuance of the bonds all costs related to the preparation of the engineer's report, staff time and legal expenses shall be chargeable to and paid by the Assessment District. Staff shall begin work related to the preparation and formation of the Assessment District upon a majority of the benefited parcel owners signing the reimbursement agreement and making the necessary deposit and the Town receiving full payment for the expenses identified herein. 8. The public interest and convenience will be served by initiating the proceedings referenced herein. THE CITY COUNCIL FURTHER RESOLVES that the City Manager is directed to hire or contract with and execute documents with all persons or professionals to assist with accomplishing this resolution's directives where and as appropriate, including but not limited to a financial consulting firm and bond counsel. PASSED AND ADOPTED at a regular meeting of the City Council of the Town of Los Altos Hills duly held on the 24th day of January, 2008, by the following vote: Ayes: Mayor Craig A.T. Jones, Vice Mayor Jean Mordo, Councilmember Breene Kerr and Councilmember Mike O'Malley Noes: None Abstain: None Absent: Councilmember Dean Warshawsky 1050929.1 Final