Chapter 16.15
ASSESSMENT BOND PROCEDURES
Sections:
Article I. Generally
16.15.005 Purpose and application of chapter.
16.15.025 Sale of bonds generally – Disposition of funds.
16.15.030 Bonds sold for amount in excess of par value.
16.15.040 Payment of assessments with matured bonds and coupons.
Article II. Bond Plan A – Lot Bonds
16.15.045 Application of State law.
16.15.050 Interest – Starting date.
16.15.055 Alternative method of collection of assessments under twenty-five dollars ($25.00).
Article III. Bond Plan B – District Bonds
16.15.060 Application of State law.
16.15.065 Assessments under twenty-five dollars ($25.00).
16.15.070 Unpaid assessment lists.
16.15.075 Maturity date of bonds of certain denominations.
Article IV. Bond Plan C – District Liability Bonds
16.15.080 Application of State law.
16.15.095 Issuance – Applicability of State law.
16.15.100 Advanced payments – Applicability of State law.
16.15.105 Assessments under twenty-five dollars ($25.00).
16.15.110 Unpaid assessment lists – Filing and information required.
16.15.115 Maturity dates of certain denominations.
Article V. Bond Plan D – Ad Valorem Land Bonds
16.15.120 Power of City Council generally.
16.15.125 Description of proposed assessment district in resolution of intention.
16.15.135 Acquisition bonds generally.
16.15.140 Municipal improvement district bonds generally – Duties of City Council – Issuance.
16.15.145 Possession bonds, generally – Issuance, etc.
16.15.150 Hearing generally – Notice generally.
16.15.160 Objections – Powers of City Council.
16.15.165 Bonds generally – Issuance.
16.15.170 Bond issuance – Form and execution.
16.15.175 Issues, series and divisions.
16.15.195 Ad valorem tax – Generally.
16.15.200 Ad valorem tax – Method of collection.
16.15.205 Redemption fund – Contributions to same by City.
16.15.210 Division of assessment districts into zones.
16.15.215 Supplemental remedy provisions.
16.15.220 Validity of bonds and tax rate.
16.15.225 Issuance of new bonds when proceedings irregular.
16.15.230 Alteration of district.
Article VI. Bond Plan E – Ad Valorem Realty Bonds
16.15.235 Power of City Council generally.
Article VII. Bond Plan G – Vehicle Off-Street Parking Bonds
16.15.270 Off-street parking revenues.
16.15.275 On-street parking meter revenues.
16.15.280 Resolution of intention.
16.15.285 Factors in assessment formula.
16.15.295 Notice to property owners.
16.15.310 Report – Preparation – Contents.
16.15.315 Report – Certification.
16.15.325 Report – Notice of hearing.
16.15.330 Report – Mailing, subsequent reports.
16.15.335 Report – Form of notice.
16.15.340 Report – Proof of notice.
16.15.355 Report – Certification.
16.15.370 Supplemental remedies.
Article VIII. Bond Plan H – Annual Benefit Assessment Bonds
16.15.385 Assessment provisions inapplicable.
16.15.390 Resolution of intention.
16.15.395 Benefit assessment formulae.
16.15.400 Hearing as to benefits.
16.15.405 Initial modification.
16.15.410 Final determination.
16.15.415 Subsequent modification.
16.15.425 Hearing and determination.
16.15.445 Interest after maturity.
16.15.495 Adoption by Council.
16.15.500 Further Council action.
16.15.510 Hearing – Notice – Publication and posting.
16.15.515 Hearing – Notice – Form.
16.15.520 Hearing – Affidavits.
16.15.530 Hearing – Council duties.
16.15.535 Hearing – Decision final.
16.15.540 Certification and filing.
16.15.545 Benefit assessments – Posting.
16.15.560 Public property exempt.
16.15.565 Omitted property – Assessment.
16.15.570 Validity of bonds and tax rate.
16.15.590 New bonds – Issued when proceedings irregular.
16.15.595 Existing bonds – Security.
16.15.600 Existing bonds – Exchange.
16.15.605 Existing bonds – Sale of new bonds – Retirement of old bonds.
16.15.610 Alteration of boundaries.
Article IX. Bond Anticipation Notes
16.15.615 Bonds – Bond anticipation note defined.
16.15.620 Borrowing by City – Use of funds.
16.15.625 Resolution authorizing issuance.
16.15.630 Negotiability – Denomination – Maturity – Payment.
16.15.635 Issuance and sale – Interest.
16.15.640 Call and redemption prior to maturity.
16.15.645 Pledge of bond proceeds – Notes as lien on bond funds.
16.15.650 Limitation on amount.
Article I. Generally
16.15.005 Purpose and application of chapter.
When bonds are to be issued in any proceeding had and taken in connection with any public improvement, acquisition, immediate possession or street closing pursuant to this chapter, the same shall be issued, paid and collected in accordance with this chapter. (Ord. 859 § 300. Formerly § 16-103).
16.15.010 Declaration of resolution of intention generally – Information required and interest rates generally.
When the Council shall have determined that bonds shall be issued to represent the cost and expenses of any proposed work or improvement or of the possession or acquisition of any property in any proceeding under this chapter, it shall so declare in its resolution of intention therefor and shall specify pursuant to which plan herein provided such bonds shall be issued, the term or maximum term of their maturity following their date and the rate of maximum rate of interest they shall bear, as determined by the Council. (Ord. 859 § 301; Ord. 1215 § 1, 6-24-69; Ord. 1299 § 1, 10-22-74; Ord. 1399 § 1, 4-8-80. Formerly § 16-104).
16.15.015 Form of bonds.
Whenever any bonds shall be issued pursuant to any one of the plans provided in this chapter, such bonds shall be substantially in the form provided in the particular plan specified, with such appropriate changes in the wording of such bonds as to show that they have been issued pursuant to such plan. (Ord. 859 § 302. Formerly § 16-105).
16.15.020 Execution of bonds.
The signature on the interest coupons and all signatures excepting one signature on the bonds may be by printed, engraved, lithographed or other process. (Ord. 859 § 303. Formerly § 16-106).
16.15.025 Sale of bonds generally – Disposition of funds.
When any bonds issued under this chapter are to be sold, they may be sold by the City Council as it shall determine.
The proceeds of such sale shall be placed in the City treasury to the credit of the fund for which they have been issued and shall be applied exclusively to the purposes and objects thereof. (Ord. 859 § 304. Formerly § 16-107).
16.15.030 Bonds sold for amount in excess of par value.
If any bonds be sold for an amount in excess of par, such excess shall be paid into the fund for the improvement unless the City Council shall otherwise determine. (Ord. 859 § 305. Formerly § 16-108).
16.15.035 Registration of bonds against loss, theft and delinquent payment – Applicability of State law.
Bonds may be registered against theft, in which event Title 4, Division 4, Chapter 4, Article 7 (entitled "Registration"), Section 43880 et seq. of the Government Code of the State shall apply.
Bonds may be registered for nonpayment, in which event Title 5, Division 1, Part 1, Chapter 3, Article 2 (entitled "Registration of Bonds"), Section 50630 et seq. of the Government Code of the State shall apply.
New bonds or coupons may be issued to replace lost or destroyed bonds, in which, event the provisions of Title 5, Division 2, Part 1, Chapter 3, Article 3 (entitled "Lot or Destroyed Bonds"), Section 53460 et seq. of the Government Code of the State shall apply. (Ord. 859 §§ 306 – 308. Formerly § 16-109).
16.15.040 Payment of assessments with matured bonds and coupons.
Payment of all or any portion of any assessment taxes levied to pay the principal or interest due or to become due on the bonds of any district formed under this chapter may be made with matured bonds or matured coupons of such district. Such bonds and coupons shall be accepted and treated as cash and when so received shall be cancelled and the interest and sinking fund of such district shall be credited with the face value thereof. (Ord. 859 § 309. Formerly § 16-110).
Article II. Bond Plan A – Lot Bonds
16.15.045 Application of State law.
When bonds are issued pursuant to bond plan A, the bond provisions of the State Improvement Act of 1911 shall apply. (Ord. 859 § 320. Formerly § 16-111).
16.15.050 Interest – Starting date.
When an assessment is levied under this article, interest shall run from the date of filing the list of unpaid assessments. Otherwise, interest shall run from a date to be determined by the City Council. (Ord. 859 § 321. Formerly § 16-112).
16.15.055 Alternative method of collection of assessments under twenty-five dollars ($25.00).
As an alternative method for the collection of assessments under this article and which are of an amount less than twenty-five dollars ($25.00), proceedings may be had in accordance with the alternative provisions of this chapter. (Ord. 859 § 322. Formerly § 16-113).
Article III. Bond Plan B – District Bonds
16.15.060 Application of State law.
Where bonds are issued pursuant to bond plan B, the State Improvement Bond Act of 1915 shall apply. (Ord. 859 § 330. Formerly § 16-114).
16.15.065 Assessments under twenty-five dollars ($25.00).
Bonds may be issued in the total amount of all assessments in amounts of less than twenty-five dollars ($25.00), which are unpaid at such time, to mature at the same time as the maturity of the first series of such serial bonds and which assessments shall become due and payable at the same time as that portion of the larger assessments which shall have been collected for the payment of the first series of the serial bonds and the interest thereon. (Ord. 859 § 331. Formerly § 16-115).
16.15.070 Unpaid assessment lists.
The list of unpaid assessments filed with the City Clerk by the street superintendent shall separately state in such list the total of the assessments which are of twenty-five dollars ($25.00) or over in amount and the assessments which are under twenty-five dollars ($25.00) in amount. (Ord. 859 § 332. Formerly § 16-116).
16.15.075 Maturity date of bonds of certain denominations.
Bonds for the amount of the assessments which are not an even multiple of not less than one hundred dollars ($100.00) nor more than one thousand dollars ($1,000.00) may be made to mature at the same time as the first series of bonds. (Ord. 859 § 333. Formerly § 16-117).
Article IV. Bond Plan C –
District Liability Bonds
16.15.080 Application of State law.
When bonds are issued pursuant to this article, the provisions of Sections 14, 15, 16, 17, 20, 21, 22, 24, 25, 26, 27 and 28 of the State Refunding Assessment Bond Act of 1935 shall apply. (Ord. 859 § 340. Formerly § 16-118).
16.15.085 Form of bonds.
Appropriate changes shall be made in the form of the bonds to show that they have been issued for a public improvement or acquisition. (Ord. 859 § 341. Formerly § 16-119).
16.15.090 Date and interest.
The City Council shall determine the date of bonds issued under this article and the date from which such interest shall run. Interest shall accrue on the assessments from such date. (Ord. 859 § 342. Formerly § 16-120).
16.15.095 Issuance – Applicability of State law.
Proceedings for the issuance of bonds under this article shall be had as provided in the State Improvement Bond Act of 1915. (Ord. 859 § 343. Formerly § 16-121).
16.15.100 Advanced payments – Applicability of State law.
Assessments for bonds under this article may be paid in advance of maturity in the manner provided in the State Improvement Bond Act of 1915 and the provisions thereof shall be inserted in such bonds instead of the provisions of the State Refunding Act. (Ord. 859 § 344. Formerly § 16-122).
16.15.105 Assessments under twenty-five dollars ($25.00).
Bonds may be issued in the total amount of all assessments in amounts of less than twenty-five dollars ($25.00) which are unpaid at such time, to mature at the same time as the maturity of the first series of such serial bonds and which assessments shall become due and payable at the same time as that portion of the larger assessment which shall have been collected for the payment of the first series of the serial bonds and the interest thereon. (Ord. 859 § 345. Formerly § 16-123).
16.15.110 Unpaid assessment lists – Filing and information required.
The list of unpaid assessments filed with the City Clerk by the street superintendent shall separately state in such list the total of the assessments which are of twenty-five dollars ($25.00) or over in amount and the assessments which are under twenty-five dollars ($25.00) in amount. (Ord. 859 § 346. Formerly § 16-124).
16.15.115 Maturity dates of certain denominations.
Bonds for the amount of the assessments which are not an even multiple of not less than one hundred dollars ($100.00) or more than one thousand dollars ($1,000.00) may be made to mature at the same time as the first series of bonds. (Ord. 859. Formerly § 16-125).
Article V. Bond Plan D –
Ad Valorem Land Bonds
16.15.120 Power of City Council generally.
There is hereby vested in the City Council the power to issue serial ad valorem land bonds upon any district created under this chapter. (Ord. 859; Ord. 1104. Formerly § 16-126).
16.15.125 Description of proposed assessment district in resolution of intention.
The proposed district shall be described in the resolution of intention and established as provided in Chapter 16.10 SCCC pursuant to which such proceedings are had. (Ord. 859. Formerly § 16-127).
16.15.130 Improvements bonds generally – Issuance and delivery to contractor, etc. – Issuance of acquisition bonds when contractor paid from advance.
If proceedings are had pursuant to SCCC 16.10.090 through 16.10.150 upon completion of the work, the person appointed by the City Council to be in charge of the work shall prepare and file with the City Council a declaration that the work has been completed according to the contract therefor, together with an itemized statement of the cost of such work and of the expenses incidental to such proceedings, estimated to the conclusion of such proceedings. The amount of any contribution shall be stated therein as well as the balance for which bonds are to be issued. When the bonds have been issued they shall be delivered to the contractor upon his/her paying to the City any money due it for incidental expenses as stated in the declaration. The City Council may provide in the resolution of intention that the contractor shall be paid in cash from advances to be made to such project or from the proceeds of the sale of the bonds, in which event the bonds shall be issued as provided for the issuance of acquisition bonds. (Ord. 859. Formerly § 16-128).
16.15.135 Acquisition bonds generally.
If the proceedings are had pursuant to SCCC 16.10.160 through 16.10.190 upon the entry of all interlocutory judgments in any eminent domain proceedings brought pursuant thereto, proceedings shall be had substantially as provided herein for the issuance of improvement bonds. The bonds shall be sold by the City Council and the proceeds shall be used to pay the costs and expenses of the project. (Ord. 859. Formerly § 16-129).
16.15.140 Municipal improvement district bonds generally – Duties of City Council – Issuance.
If proceedings are had pursuant to SCCC 16.10.200 through 16.10.260 in the resolution ordering the acquisitions or improvements the City Council shall determine the estimated cost of such acquisitions and improvements and of the expenses incidental thereof and the total estimated amount of the bonds to be issued. The bonds shall be issued and sold and the proceeds shall be used to pay the costs and expenses of the project. (Ord. 859. Formerly § 16-130).
16.15.145 Possession bonds, generally – Issuance, etc.
If assessment proceedings are had pursuant to SCCC 16.10.160 through 16.10.260 and proceedings shall be had for the taking of immediate possession of the property to be acquired, then the person in charge of such proposed acquisitions shall prepare and file with the City an estimate of the amount of money necessary to be deposited in court for immediate possession and proceedings shall be had for the issuance and sale of bonds therefor as provided for the issuance of acquisition bonds. In such event the City Council shall issue only such amount of additional bonds as is necessary to provide for the additional costs of such project and the proceeds of the possession bonds shall be finally used to apply to the cost of the acquisitions and improvements and expenses incidental thereto. (Ord. 859 § 365. Formerly § 16-131).
16.15.150 Hearing generally – Notice generally.
The City Clerk shall give notice of a time and place of hearing on the declaration filed in relation to the issuance of any bonds to be issued other than pursuant to SCCC 16.10.200 through 16.10.260. Such notice shall be published twice in a newspaper of general circulation published in the City, the first of which shall be at least ten days before the date set for hearing. (Ord. 859 § 366. Formerly § 16-132).
16.15.155 Form of notice.
The notice provided in the preceding section shall refer to the resolution of intention in the proceedings for identification, for a description of the work to be done or acquisition or improvements to be had and for the boundaries of the assessment district and such notice shall be given therein to all persons interested that it is proposed to hear the report and issue bonds pursuant to this article and any person feeling aggrieved by any act or determination done or made in such proceedings or claiming that any previous acts or proceedings were irregular, defective, erroneous or faulty or claiming that the work or improvement has not been performed according to the contract in a good and substantial manner or claiming that any portion of the work or improvement for any reason was omitted or illegally included in the contract or having any objections or reasons why bonds should not be issued in the amount set forth in the declaration and statement on file may appear before the City Council at the time and place so fixed by it and be heard. (Ord. 859 § 367. Formerly § 16-133).
16.15.160 Objections – Powers of City Council.
All objections shall be made in writing and signed by the protestant and any grounds not stated therein and filed at or before the time fixed for the hearing shall be deemed waived. The contractor or his/her assigns and any other person interested in such matter may appear and be heard upon any of the matters referred to in such notice. The City Council may confirm, amend, alter, modify or correct the report in such manner as it shall deem just and require the work to be completed according to its directions or those of the persons designated by it therefor. (Ord. 859 § 368. Formerly § 16-134).
16.15.165 Bonds generally – Issuance.
In the City Council's final order upon the hearing or in the resolution ordering the acquisitions or improvements when the proceedings are had pursuant to SCCC 16.10.200 through 16.10.260, the City Council shall, by resolution, order the issuance of bonds. The resolution shall state the total principal amount thereof and the amount to mature in each year during their term. The first maturity of the bonds may be postponed for a period not beyond July 2nd on the third calendar year following their date. The bonds may be made to mature on July 2nd over a period not to exceed forty (40) years from their date. (Ord. 859 § 369. Formerly § 16-135).
16.15.170 Bond issuance – Form and execution.
The bonds issued as provided in the preceding section shall be in such form, shall be executed by the officers and shall be made payable at such place within or without the State as the City Council shall determine. The bonds shall be negotiable in form and be payable to bearer. (Ord. 859 § 370. Formerly § 16-136).
16.15.175 Issues, series and divisions.
An issue of bonds shall constitute all of the bonds issued pursuant to a resolution of intention. Each issue shall be given a serial designation. The City Council may, in its discretion, divide the issue into two or more divisions and fix different dates for the bonds of each division, in which event the bonds of each division shall be made payable at such time as the City Council shall determine. Possession bonds shall constitute a division of an issue. All bonds of an issue shall have equal priority. (Ord. 859 § 371. Formerly § 16-137).
16.15.180 Interest.
Semi-annual interest coupons shall be attached to bonds issued pursuant to this article and be made payable on the second days of January and July of each year. The first coupon shall be for interest from their date to the second day of January next succeeding fourth months after the date of such bonds. Provision may be made for the payment of interest from the proceeds of the sale of the bonds for the period of acquisition and construction of the project and for one year thereafter. If upon presentation at maturity, payment of any bond is not made as provided by this article, interest shall continue at the same rate until the principal is paid in full. (Ord. 859 § 374. Formerly § 16-138).
16.15.185 When callable.
Bonds issued pursuant to this article are not subject to call or redemption prior to their fixed maturity date unless the right to exercise the call is expressly stated on the face of the bonds. Provision may be made therein for a premium on call. (Ord. 859 § 372. Formerly § 16-139).
16.15.190 Supplemental bonds.
If the proceeds of bonds issued pursuant to this article are, for any reason, less than the cost of the acquisition, improvements and expenses incidental thereto, additional bonds may be issued by filing with the Clerk a declaration or statement of the amount necessary therefor and by giving notice and holding a hearing and determining the amount of bonds to be issued therefor as provided in this article for the issuance of bonds upon declaration, notice and hearing. Such bonds shall be deemed a division of the bonds of the main issue. (Ord. 859 § 373. Formerly § 16-140).
16.15.195 Ad valorem tax – Generally.
For each district in which an issue of bonds has been had pursuant to this article, the City Council shall annually, until all of the bonds and interest thereon have been paid in full and at the time of levying the taxes for general City purposes, levy an ad valorem assessment upon all lands within such district except publicly owned property, which levy shall be in an amount clearly sufficient, together with any money which are or may be in the redemption fund and after making adequate allowance for estimated delinquencies, shall pay all of the principal of and interest on such bonds which shall become payable before the proceeds of another such levy shall be available therefor. (Ord. 859 § 375. Formerly § 16-141).
16.15.200 Ad valorem tax – Method of collection.
The ad valorem levy as provided in SCCC 16.15.195 shall be levied and collected upon the last equalized secured and utility tax rolls upon which general City taxes are collected. It shall be in addition to all other taxes levied for general City purposes and shall be levied, computed, entered, collected and enforced in the same manner, by the same persons, at the same time and with the same penalties and interest as are other taxes for City purposes and all laws applicable to the levy, collection and enforcement of taxes for City purposes are hereby made applicable to such levy and such levy shall be subject to redemption within one year from the date of sale in the same manner as real property is redeemed from the sale for general City taxes and if not redeemed, shall in like manner pass to the purchaser. (Ord. 859. Formerly § 16-142).
16.15.205 Redemption fund – Contributions to same by City.
The City Council may annually, at or prior to the time the levy is made or at such other time as it shall determine, transfer to the redemption fund of such bonds such amounts as it shall determine. (Ord. 859. Formerly § 16-143).
16.15.210 Division of assessment districts into zones.
If, in the judgment of the City Council conducting the proceeding, varying benefits are to be derived by the different parcels of land lying within the assessment district so required, the district may be divided into zones according to benefits. The district may be divided into a number of zones up to the total number of parcels of land in the district, as may be deemed necessary and each zone shall be composed of and include all the lands within the district which will be benefited in like measure. The Council shall also determine the percentage of the sum to be raised each year by the levy and collection of the special assessment taxes in the district for the payments on the principal and interest of the bonds, which will be raised from the lands in each zone. When the district is divided into such zones, the resolution of intention shall so state, giving such percentages to be raised from the lands in each zone. Each zone shall be designated by a different letter or number and shall be plainly shown on the map or plat of the assessment district filed in the office of the City Clerk and referred to in the resolution of intention, either by separate boundaries, coloring or other convenient and graphic method so that all persons interested may with accuracy ascertain within which zone any parcel of land is located. It shall be sufficient in all cases where the assessment district is to be divided into such zones according to benefits if the resolution of intention states that fact and refers to the plat or map for the boundaries and all details concerning the zones. (Ord. 859. Formerly § 16-144).
16.15.215 Supplemental remedy provisions.
The supplemental remedy provisions of Division 10, Part 13 (entitled "Sale for Delinquency"), Section 8800 et seq. of the Streets and Highways Code of the State of California shall apply. This section is adopted pursuant to Section 43240 of the Government Code of the State of California. (Ord. 859; Ord. 1104. Formerly § 16-145).
16.15.220 Validity of bonds and tax rate.
All bonds issued and all taxes levied and collected pursuant to the provisions of this article shall by their issuance be conclusive evidence of the regularity, validity and legal sufficiency of all proceedings, acts and determinations in anywise pertaining thereto and after the same are issued, no tax levied or collected for the purpose of paying the principal or interest on such bonds shall be held invalid or illegal or set aside by reason of any error, informality, irregularity, omission or defect in such proceedings not amounting to a want of due process of law. (Ord. 859. Formerly § 16-146).
16.15.225 Issuance of new bonds when proceedings irregular.
When any court of competent jurisdiction shall determine that any contract purporting to have been made or any proceedings, steps or actions purporting to have been taken or any bond issued or any levy of assessment made under this article is void, invalid or unenforceable for any reason or shall for any cause enjoin the issuance of any bonds proposed to be issued under this chapter, such court shall also determine that new bonds shall be issued in the place thereof. The City Council may also order the issuance of new bonds when it shall determine the existence of such voidness, invalidity or unenforceability. In such event the City Council shall cause a declaration to be filed which shall state the amount of any work performed, improvements made, acquisitions had and the expenses incidental thereto and the estimated cost of any to be had. The declaration shall be noticed and heard and new bonds issued as provided for acquisition bonds. (Ord. 859. Formerly § 16-147).
16.15.230 Alteration of district.
The boundaries of any district heretofore or hereafter created pursuant to this article may be enlarged from time to time in the manner provided in SCCC 16.10.440 and 16.10.450. (Ord. 1104. Formerly § 16-147.1).
Article VI. Bond Plan E –
Ad Valorem Realty Bonds
16.15.235 Power of City Council generally.
There is hereby vested in the City Council the power to issue serial ad valorem realty bonds upon any district created under this chapter. (Ord. 859. Formerly § 16-148).
16.15.240 Assessment.
The annual ad valorem assessment to be levied under this article shall be upon all land and improvements within the assessment district excepting publicly owned property. (Ord. 859. Formerly § 16-149).
16.15.245 Procedure.
Except as otherwise provided in this article, all of the provisions of SCCC 16.15.120 through 16.15.230 shall apply. (Ord. 859; Ord. 1175 § 5, 11-7-67. Formerly § 16-150).
Article VII. Bond Plan G –
Vehicle Off-Street Parking Bonds*
*Code reviser's note: Ord. 1277 § 4 provides as follows: "Bonds may be issued under Bond Plan G as set forth in this ordinance upon any district formed after its effective date despite the fact that the proceedings for the formation of the district were initiated prior to its effective date; provided, that the resolution of intention and the proceedings conducted pursuant thereto either include or are amended to include all of the provisions and matters required for such Plan G proceedings as set forth in this ordinance."
16.15.250 Powers.
There is hereby vested in the Council the power to issue vehicle off-street parking bonds upon an off-street parking assessment district created under this Code to finance the cost of acquiring, constructing, improving and extending vehicle off-street parking places and facilities and the costs incidental thereto and to the proceedings and the financing thereof, including public automobile parking lots, garages and underground or elevated structures, and all works, equipment, appliances, tools and facilities useful therein or therefor. (Ord. 1277 § 3, 8-7-73. Formerly § 16-151).
16.15.255 Purpose.
The purpose of this article is to provide a procedure by which assessment bonds may be issued for the acquisition, construction, improvement, extension and financing of vehicle off-street parking places and facilities and to permit the bond redemption fund to receive the proceeds of pledges of revenues and contributions and to allow the assessments to reflect credits to properties which provide private off-street parking places and facilities. (Ord. 1277 § 3, 8-7-73. Formerly § 16-152).
16.15.260 Definitions.
As used in this article:
(a) "Charge" means fees, tolls, rates and rentals for the service or facilities of the parking enterprise.
(b) "Improve" means reconstruct, replace, extend, repair, better, equip, develop, embellish or otherwise improve.
(c) "Net revenues" mean the revenues (gross revenues) of parking places remaining after deducting all sums expended therefrom the annual management, operation, maintenance and repair thereof, including all incidental costs, fees and expenses properly chargeable thereto, without allowance for depreciation.
(d) "Net on-street meter revenues" mean the revenue from street meters remaining after deductions for the cost of acquiring and installing the meters, the cost of their maintenance, operation, repair, replacement and servicing, and the cost of collecting revenues therefrom, without allowance for depreciation or obsolescence.
(e) "Parking places" include parking lots, garages, subsurface structures and buildings for the parking of motor vehicles.
(f) "Real property" means land and improvements.
(g) "Revenues" mean all charges for and all income and receipts derived by the City from parking places or arising therefrom, and includes revenues in all revenue redemption, sinking and reserve fund and interest earned thereon. (Ord. 1277 § 3, 8-7-73. Formerly § 16-153).
16.15.265 Procedure.
Except as in this article otherwise provided, all of the provisions of Article IV of Chapter 16.10 SCCC and SCCC 16.15.005 shall apply. (Ord. 1277 § 3, 8-7-73. Formerly § 16-154).
16.15.270 Off-street parking revenues.
The City may pledge all or a part of the revenues to be derived by it from off-street parking facilities of the City then existing, to be acquired or constructed in the proceedings, or thereafter to be acquired or constructed by it, for the payment and security of the principal of and interest on the bonds to be issued pursuant to this article, the premiums on and costs of calling bonds prior to their fixed date of maturity and the costs of administration, maintenance, operation, improvement, extension and replacement thereof. (Ord. 1277 § 3, 8-7-73. Formerly § 16-155).
16.15.275 On-street parking meter revenues.
The City may pledge, place a charge upon, or otherwise make available, as additional security for the payment of bonds to be issued pursuant to this article, all or a part of any or all net on-street meter revenues then owned or controlled or to be acquired or controlled by it, for the purposes stated in SCCC 16.15.270. (Ord. 1277 § 3, 8-7-73. Formerly § 16-156).
16.15.280 Resolution of intention.
The resolution of intention shall state any pledges proposed to be made by the City pursuant to SCCC 16.15.270 and 16.15.275. It shall also state, in general terms sufficient to be understood and applied, the formula to be used in determining the annual apportionment of benefits in the levy of annual assessments upon the real property within the proposed assessment district and the granting of credits to the extent that private off-street parking places and facilities shall have been provided for the year by owners of real property within the district. (Ord. 1277 § 3, 8-7-73. Formerly § 16-157).
16.15.285 Factors in assessment formula.
In stating the assessment formula in the resolution of intention under SCCC 16.15.280, the Council may provide for but is not limited to variations in the basic formula based on:
(a) Zoning, as established by the City Zoning Ordinance;
(b) Land use;
(c) Distance from existing or proposed parking facilities;
(d) The extent to which the parking requirements of applicable City planning and zoning ordinances have been satisfied. (Ord. 1277 § 3, 8-7-73. Formerly § 16-158).
16.15.290 Engineer's report.
No assessment or diagram shall be provided for the engineer's report. However, it shall contain or be supplemented by a preliminary report for the first bond year, in form substantially as hereinafter provided for in this article, which shall contain a map or plat showing the parcels to be assessed and an estimated assessment of each parcel for the first bond year based upon the application of the formula set forth in the resolution of intention. (Ord. 1277 § 3, 8-7-73. Formerly § 16-159).
16.15.295 Notice to property owners.
Each notice to property owners mailed in connection with the first annual levy shall state the estimated amount of the first annual assessment against the particular parcel covered by the notice. (Ord. 1277 § 3, 8-7-73. Formerly § 16-160).
16.15.300 Hearing.
At the hearing on the resolution of the intention and report, the Council may make changes in the project, the costs, the assessment district, any zones proposed under SCCC 16.15.210, and the percentages relating thereto, in the supplemental report, and in the formula stated in the resolution of intention. In such event, notice shall be given and a further hearing held as provided in SCCC 16.05.470 through 16.05.490, inclusive. (Ord. 1277 § 3, 8-7-73. Formerly § 16-161).
16.15.305 Estimate.
The Director of Finance shall annually cause to be prepared an estimate for each bond issue under this article which shall include the following:
(a) The gross amount required to pay the principal and interest on the bonds which have accrued or which shall accrue before the proceeds of the next succeeding assessment levy under this article shall be available therefor; including allowance for anticipated delinquencies, and the amount estimated to be required and not available from other sources to pay the cost of management, operation, maintenance and repair thereof for the forthcoming fiscal year;
(b) The amount estimated to be available therefor in the bond interest and redemption fund created for the bonds;
(c) The amount estimated to become available therefor pursuant to a pledge of revenues in the assessment proceedings;
(d) The amount of net on-street meter revenues within or without the parking district, which have been pledged for the servicing of the bonds;
(e) The amount of any contributions which the City proposes to make to the bond fund for the year;
(f) The balance of the amount provided in subsection (a) of this section after deducting the aggregate total of the amounts determined under subsections (b) to (e), inclusive, of this section. (Ord. 1277 § 3, 8-7-73. Formerly § 16-162).
16.15.310 Report – Preparation – Contents.
The Director of Public Works shall annually cause to be prepared a report for each bond issue under this article, which shall, under appropriate headings, show the amounts to be provided in the annual budget and the property headed columns, show the information provided therefor and required by the assessment formula, and the amount of the total annual assessment for said year, on each parcel of land to be assessed. (Ord. 1277 § 3, 8-7-73. Formerly § 16-163).
16.15.315 Report – Certification.
When the report has been completed, it shall be endorsed by the Director of Public Works and filed with the Clerk on or before July 15th of each year. (Ord. 1277 § 3, 8-7-73. Formerly § 16-164).
16.15.320 Report – Hearing.
The report shall come on regularly for hearing by the Council at its regular meeting held on the first Tuesday of August in each year. (Ord. 1277 § 3, 8-7-73. Formerly § 16-165).
16.15.325 Report – Notice of hearing.
The Clerk shall cause notice of the hearing on the report to be given by publication, posting and mailing. (Ord. 1277 § 3, 8-7-73. Formerly § 16-166).
16.15.330 Report – Mailing, subsequent reports.
Notices shall not be required to be mailed to persons as to a hearing on subsequent reports after the first year when the report is heard at the time fixed in SCCC 16.15.320. (Ord. 1277 § 3, 8-7-73. Formerly § 16-167).
16.15.335 Report – Form of notice.
The notice shall be substantially as follows:
NOTICE OF HEARING
ON PARKING ASSESSMENT ROLL PROJECT NO. ________
NOTICE IS HEREBY GIVEN that the Director of Public Works has caused to be prepared and filed with the City Clerk a report which provides the basis for levying assessments on the properties within the parking district created and established for Vehicle Off-Street Parking Project No. ________, and the amounts proposed to be levied for the fiscal year of 20___, upon the several parcels of land in the parking assessment district created to pay the principal and interest of the bonds issued in said project, which report is open to public inspection.
Said report will be heard by the Council at its meeting to be held on the ________ day of ________, 20___, at the hour of 7:00 o'clock P.M., Council Chambers, City Hall, Santa Clara, California, at which time said Council will examine said report and hear all persons interested therein.
Any interested person, objecting to the amount of the assessment on any parcel of land owned by him, may file with the City Clerk at or before the hour fixed for hearing, a protest in writing signed by him, describing the parcel so that it may be identified, and stating the grounds of his/her protest, and may appear at said meeting and be heard in regard thereto.
City Clerk of the
City of Santa Clara
(Ord. 1277 § 3, 8-7-73. Formerly § 16-168).
16.15.340 Report – Proof of notice.
Affidavits of publication and affidavits or certificates of posting and mailing notice of hearing shall be made and filed with the Clerk. (Ord. 1277 § 3, 8-7-73. Formerly § 16-169).
16.15.345 Protests.
The Clerk shall endorse on each protest the date it is filed with him, and shall show whether the protest is filed prior to the hour fixed for hearing. No protest received after that hour shall be included in the computation of the percentage of protests, but the Council may, in its discretion, consider the protests and hear the signers thereof. (Ord. 1277 § 3, 8-7-73. Formerly § 16-170).
16.15.350 Public hearing.
At the time and place fixed for hearing, or at any time to which the hearing is adjourned, the Council shall:
(a) Hear all persons having an interest in any real property within the district.
(b) Hear all objections, protests or other written communications from persons interested in any real property within the district.
(c) Take and receive oral and documentary evidence pertaining to the matters contained in the report.
(d) Remedy and correct any error or informality in the report, and revise and correct any of the acts or determinations of the Director of Finance or of the person making the report as contained therein.
(e) Amend, alter, modify, correct and confirm the report and each of the assessments therein. (Ord. 1277 § 3, 8-7-73. Formerly § 16-171).
16.15.355 Report – Certification.
The report, together with the certificate of the Clerk as to the fact and date of approval by the Council, shall be delivered to the Director of Finance at or before the time the Council fixes the general City tax rate for the fiscal year. (Ord. 1277 § 3, 8-7-73. Formerly § 16-172).
16.15.360 City budget.
The estimated amounts provided under SCCC 16.15.305(c), (d), (e) and (f), as finally approved in the report, shall be included in the City budget for the fiscal year referred to in that section. (Ord. 1277 § 3, 8-7-73. Formerly § 16-173).
16.15.365 Annual assessment.
The amount provided in SCCC 16.15.305(f), including provision for anticipated delinquencies, shall be raised by annual assessments on all real property within the parking assessment district, in accordance with the provisions of the formula, until all of the bonds and the interest to accrue thereon have been paid in full. (Ord. 1277 § 3, 8-7-73. Formerly § 16-174).
16.15.370 Supplemental remedies.
The supplemental security and remedy provisions of Division 10, Part 13 (entitled "Sale for Delinquency"), Section 8800 et seq. of the Streets and Highways Code shall apply. This section is adopted pursuant to Section 43240 of the Government Code. (Ord. 1277 § 3, 8-7-73. Formerly § 16-175).
Article VIII. Bond Plan H –
Annual Benefit Assessment Bonds
16.15.375 Powers.
There is hereby vested in the Council the power to issue benefit assessment bonds within any district created pursuant to Chapter 16.10 SCCC or pursuant to any general law of the State. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.1).
16.15.380 Purpose.
The purpose of this article is to provide a procedure by which benefit assessment bonds may be issued to pay the whole or any part of the costs of any public improvements which are inherently local in nature, payable from annual benefit assessment levies apportioned among the several lots and parcels of land or real property within the district established therefor, in proportion to the estimated benefits to be received by said lots and parcels of land or real property, the nature and formula or formulae for which is to be determined in the proceeding in which jurisdiction is provided therefor. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.2).
16.15.385 Assessment provisions inapplicable.
The respective provisions of any article of Chapter 16.10 SCCC or of any general law of the State pursuant to which said proceedings are undertaken to the contrary notwithstanding, no assessment or diagram shall be made, heard, levied or recorded, nor shall any amount of annual benefit assessment levies proposed to be made pursuant hereto be or become payable prior to their levy as herein provided. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.3).
16.15.390 Resolution of intention.
When the Council proposes to issue benefit assessment bonds pursuant to this article, it shall so declare in the resolution of intention pursuant to which the bonds are to be issued, the maximum term for which the bonds of any series of the issue may be issued, and the maximum rate of interest they may bear, and that bonds will be issued pursuant to this article. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.4).
16.15.395 Benefit assessment formulae.
In addition to the matters required by SCCC 16.15.390, the resolution of intention shall contain a statement of the formula or formulae upon and by which annual benefit assessment levies for the payment of said bonds and the interest thereon will be apportioned according to benefits to be received among the several lots and parcels of land within the assessment district to be established therefor. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.5).
16.15.400 Hearing as to benefits.
At the hearing provided for establishing the benefit assessment district pursuant to any article of Chapter 16.10 SCCC or of any general law of the State, property owners may protest against and be heard as to the proposed formula or formulae pursuant to which annual benefit assessment levies are to be apportioned among the several lots and parcels of land or real property within the district established therefor in proportion to the estimated benefits to be received by said lots and parcels of land or real property in the same manner, at the same time and with like legal effect, as provided for other protests in said proceedings. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.6).
16.15.405 Initial modification.
At the hearing provided in SCCC 16.15.400, the Council, of its own volition or in response to any protest made, heard or considered, may make such modifications in the formula or formulae as it determines may be necessary to adequately effect the apportionment of said annual benefit assessments in proportion to the estimated benefits to be received; for the purpose of making the same more fair and equitable; provided, however, that before making a final order in said matter it shall set said matter for hearing at a subsequent meeting of said Council, which it shall call or to which it may adjourn; provided, further, that it shall give notice of the time, place and purpose of said meeting, by one publication in the newspaper in which the original resolution of intention or notice of improvement was published, at least ten days prior to said hearing. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.7).
16.15.410 Final determination.
At the initial hearing, or at the subsequent hearing on the modification of said formula or formulae, or at any meeting to which either shall have been adjourned, or at any meeting of the Council subsequent to the full hearing of said matter, with or without said matter having been submitted, the Council, by resolution, shall finally adopt a formula or formulae for the apportionment of benefits in said subsequent benefit assessment levies, which shall be that stated in the resolution of intention, or as modified, and its determination shall be final and conclusive against all persons excepting persons whose protests for grounds stated therein have been denied and who have brought action therefor within thirty (30) days following said determination, in the local superior court. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.8).
16.15.415 Subsequent modification.
If, at any time following the final establishment of the formula or formulae for said subsequent benefit assessment levies, the Council shall, by resolution, determine that, by reasons of changed conditions or because of defects or insufficiencies therein disclosed by its application, an established formula or formulae does not equitably apportion said annual benefit assessments in proportion to the estimated benefits to be received the Council may, by resolution, so declare, stating the grounds therefor, and fix a time and place of hearing thereon. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.9).
16.15.420 Notice.
A copy of the resolution provided in SCCC 16.15.415 shall be published once a week for two successive weeks, the first of which shall be at least 14 days prior to the day of said proposed meeting, in the newspaper in which the resolution of intention or notice of improvement in said proceedings was published. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.10).
16.15.425 Hearing and determination.
At the hearing provided in SCCC 16.15.415, protest may be filed, heard and acted upon in the manner and with like effect provided in this article for the initial establishment and modification of said formula or formulae. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.11).
16.15.430 Form of bonds.
The benefit assessment bonds shall be of the form prescribed by resolution of the Council, shall be dated as the Council shall determine, shall be numbered consecutively, and shall be in registered form and serial in nature. They shall be payable on September 2nd of each year in such amount as the Council shall determine. The first maturity shall be not earlier than twelve (12) months after their date. The benefit assessment bonds may be made to mature on September 2nd over a period not to exceed forty (40) years from their date. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.12).
16.15.435 Separate series.
The benefit assessment bonds may be issued in successive series, divisions or parts having different dates, terms and dates of maturity. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.13).
16.15.440 Interest.
The bonds shall bear interest payable on March 2nd and September 2nd of each year. The first payment of interest shall become due on the interest payment date which is six months before the maturity of the first series of bonds, but if any portion of the interest is funded, the Council may specify that the first payment of interest shall become due on any earlier interest payment date following the date of the bonds. Interest shall be payable to the registered holders of the bonds as their names and addresses appeared on the records of the City or its registration agent on the fifteenth (15th) day preceding the interest payment date. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.14).
16.15.445 Interest after maturity.
If, upon presentation at maturity, or if redeemable and duly called for redemption, payment of the benefit assessment bonds or any interest thereon is not made in full accordance with the indenture of issuance, said bonds shall continue to bear interest at the rate stated in the bonds until paid in full. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.15).
16.15.450 Callable bonds.
The benefit assessment bonds may be made subject to call and redemption prior to their fixed dates of maturity with or without a premium, all as shall be prescribed by the Council; provided, that no bond shall be subject to prior call unless it shall so state on its face. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.16).
16.15.455 Execution.
The benefit assessment bonds shall be signed by the Director of Finance and the Clerk. However, the Council may by order authorize the use upon the bonds of an engraved, printed or lithographed signature of the Director of Finance and the Clerk in place of a signature by hand. It may also authorize the seal to be placed in a like manner on the bonds. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.17).
16.15.460 Improvement fund.
The proceeds of the bonds shall be deposited in an improvement fund which shall be created and maintained for each project. The moneys in said fund shall be used solely for the acquisition and construction of the improvements described in said proceedings, and the expenses incidental to said proceedings and the financing thereof, including legal or other fees incidental to or connected with the authorization, issuance and sale of the bonds, the cost of printing the bonds, and may include interest on the bonds during the estimated period of acquisition and construction. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.18).
16.15.465 Redemption fund.
A fund to be named "Bond Plan H, Series No. ________, Interest and Redemption Fund," or other designation sufficient to identify it, shall be created and maintained for each issue of bonds. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.19).
16.15.470 Trust funds.
All moneys which shall have been pledged or contributed to the payment of the bonds and the interest thereon, and all annual benefit assessments levied therefor, shall be deposited in the redemption fund for such issue, shall constitute a trust fund therefor, and shall not be expended for any other purpose; provided, that if any moneys remain in the redemption fund after the payment of all the bonds and the interest thereon it shall be transferred to the City general fund, unless a maintenance, improvement or a service facilities district has been created for the improvements acquired and constructed from the proceeds of said bonds, in which event it shall be transferred to such fund, and be used for the objects and purposes thereof. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.20).
16.15.475 Budget – Contents.
The City Manager shall annually cause to be prepared a budget for each bond issue hereunder which shall include the following:
(a) The gross amount required to pay the principal of and interest on the bonds and any premiums on bonds to be called, before the proceeds of a second assessment levy will be available therefor;
(b) The gross amount proposed to be raised for the maintenance and operation of the City improvements involved, and any capital additions, extensions, improvements or replacements therein, during the period provided in subsection (a) of this section;
(c) The balance available at the end of the fiscal year for either of the purposes provided in subsection (a) and (b) of this section;
(d) The amount estimated to be available pursuant to any pledge of applicable revenues, which shall be budgeted and appropriated, for either of the purposes provided in subsections (a) and (b) of this section;
(e) The amount estimated to be available from additional contributions, which shall be budgeted and appropriated, for either of the purposes provided in subsections (a) and (b) of this section; and
(f) The balance of the amount for either of the subsections (a) and (b) of this section. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.21).
16.15.480 Benefit assessment.
The amount provided in SCCC 16.15.475(f), including provision for anticipated delinquencies, shall be raised by annual benefit assessments on all taxable lands or real properties within the assessment district, as provided in SCCC 16.15.380 until all of the bonds and the interest to accrue thereon have been paid in full. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.22).
16.15.485 Report.
In each year that a balance is provided in the budget pursuant to SCCC 16.15.475(f), the City Manager shall cause to be prepared annually a report for each bond issue hereunder, which shall, under appropriate headings, show the amounts to be provided in the annual budget pursuant to SCCC 16.15.475 and by properly headed columns, show the County assessor's description of each lot or parcel of land or real property to be assessed, the amount of the levy applicable to said lot or parcel of land or real property, and such other information as will be necessary or useful in applying out the formula or formulae adopted by the Council for the particular issue of bonds to which said budget provisions apply. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.23).
16.15.490 Certification.
When the report has been completed, it shall be endorsed by the City Manager in duplicate, and filed with the City Clerk on or before the first day of June. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.24).
16.15.495 Adoption by Council.
If the formula or formulae adopted for an issue of bonds is sufficiently simple as to leave no discretion, it shall be reviewed by the Council and adopted and approved by resolution. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.25).
16.15.500 Further Council action.
If the formula or formulae adopted for an issue of bonds requires the exercise of a discretion by the Council, further proceedings shall be had as provided in SCCC 16.15.505 through 16.15.530. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.26).
16.15.505 Hearing – Date.
Said report shall come on regularly for hearing by the City Council at its regular meeting held on the first Tuesday of July each year. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.27).
16.15.510 Hearing – Notice – Publication and posting.
The City Clerk shall cause notice of the hearing on the report to be given by two publications in a newspaper in the City, and by posting a copy of the notice on the bulletin board of the City Hall. The posting and first publication shall be at least ten days before the day fixed for hearing. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.28).
16.15.515 Hearing – Notice – Form.
The notice shall be substantially as follows:
NOTICE OF HEARING
(Project Title)
NOTICE IS HEREBY GIVEN that the City Manager has caused to be prepared and filed with the City Clerk a report which provides the basis for levying benefit assessments on the properties within the assessment district created and established for the project cited above, and the amounts proposed to be levied for the fiscal year ________ upon the several lots and parcels of land or real property in the assessment district created to pay the principal and interest of the bonds issued for said project and to pay the costs of maintenance and operation, if any, of the improvements involved and any capital additions, extensions, improvements or replacements therein, which report is open to public inspection.
Said report will be heard by the Council at its meeting to be held on the _______ day of ________, 20___, at the hour of _______ o'clock ___.M. in the regular meeting place of said Council, Council Chambers, City Hall, Santa Clara, California, at which time said Council will examine said report and hear all persons interested therein.
Any interested owner, objecting to the amount of the assessment on any lot or parcel of land or real property owned by him, may file with the City Clerk at or before the hour fixed for hearing a protest, in writing, signed by him, describing the lot or parcel of land or real property so that it may be identified, and stating the grounds of his/her protest, and may appear at said hearing and be heard in regard thereto.
(Ord. 1586 § 1, 5-24-88. Formerly § 16-175.29).
16.15.520 Hearing – Affidavits.
Affidavits or certificates of publication and posting of hearing shall be made and filed with the Clerk. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.30).
16.15.525 Hearing – Protests.
The Clerk shall endorse on each protest the date it is filed with him, and shall show whether said protest is filed prior to the hour fixed for hearing. No protest received after said hour shall be legal, but the Council may, at its discretion, consider said protests and hear the signers thereof. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.31).
16.15.530 Hearing – Council duties.
At the time and place fixed for said hearing, or at any time to which said hearing is adjourned, the Council shall:
(a) Hear all persons having an interest in any lot or parcel of land or real property within the district;
(b) Hear all objections, protests or other written communications from any persons interested in any lot or parcel of land or real property within the district;
(c) Take and receive oral and documentary evidence pertaining to the matters contained in the report;
(d) Remedy and correct any error or informality in the report, and revise and correct any of the acts or determinations of the City Manager or of the person making said report as contained therein;
(e) Amend, alter, modify, correct, approve and confirm said report and each of the benefit assessments therein. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.32).
16.15.535 Hearing – Decision final.
All decisions and determinations of the Council, after notice and hearing as aforesaid, shall be final and conclusive upon all persons entitled to appeal as to all errors, informalities and irregularities which the Council might have avoided, or have remedied during the hearing on the report. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.33).
16.15.540 Certification and filing.
The report, approved pursuant to SCCC 16.15.495 and 16.15.530, together with the certificate of the Clerk as to the fact and date of approval by this Council, shall be delivered to the County Auditor on or before the first day of August of each year. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.34).
16.15.545 Benefit assessments – Posting.
The County Auditor shall post to the County tax roll, in a column provided therefor, the total amount of the benefit assessment to be levied and collected for said year on each lot or parcel of land or real property within the assessment district. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.35).
16.15.550 Collection method.
Said benefit assessments shall be levied and collected upon the tax rolls upon which property taxes are collected. They shall be in addition to all other taxes, and shall be levied, entered and collected together with, and not separate from, property taxes, and enforced in the same manner and by the same persons and at the same time, and with the same penalties and interest, as are property taxes, and all laws applicable to the levy, collection and enforcement of property taxes are applicable to said special benefit assessment levy, and the assessed real property, if sold for taxes, shall be subject to redemption within one year from the date of sale in the same manner as such real property is redeemed from the sale for property taxes and if not redeemed shall in like manner pass to the purchaser. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.36).
16.15.555 Advance of funds.
The Council may annually, at, or prior to, the time the levy is made, or at such other time as it determines, advance as a loan or contribution to the redemption fund of said bonds such amount or amounts as it may from time to time determine. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.37).
16.15.560 Public property exempt.
Public property, whether or not in use in the performance of a public function, shall be exempt from the levy of benefit assessments to service bonds of this article. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.38).
16.15.565 Omitted property – Assessment.
If any lot or parcel of land or real property is omitted from the tax roll for any year in which such levy is made, it shall be added at the end of the roll and assessed as contained in the report hereinafter provided. If any lot or parcel of land or real property is omitted in any such report, it shall be assessed for the omitted amount in the next year after said omission is discovered, and appropriate provision shall be made in the report for said year. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.39).
16.15.570 Validity of bonds and tax rate.
All bonds issued and all benefit assessments levied and collected pursuant to the provisions of this article, shall by their issuance or levy be conclusive evidence of the regularity, validity and legal sufficiency of all proceedings, acts and determinations in anywise pertaining thereto, and after the same are issued no benefit assessment levied or collected for the purpose of paying the principal or interest on said bonds shall be held invalid or illegal, or set aside by reason of any error, informality, irregularity, omission or defect in said proceedings, not amounting to a want of due process of law. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.40).
16.15.575 Curation.
No benefit assessment or benefit assessment bonds, or any order for their issuance, and no proceedings prior thereto, shall be held invalid by any court for any error, omission, irregularity, informality, or other defect in the same, where the resolution of intention has been published as herein provided. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.41).
16.15.580 Dedication.
No proceeding taken or had under this article shall be held to be invalid on the ground that the real property or a portion thereof, upon which the work or improvement or part thereof, is to be done or was done, has not been lawfully dedicated or acquired, provided the same has been lawfully dedicated or acquired, or an action for the acquisition thereof has been filed, or otherwise, at any time before judgment has been entered in any legal action or proceeding involving such issue. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.42).
16.15.585 Decisions final.
All the decisions and determinations of the Council, upon notice and hearing as aforesaid, shall be final and conclusive upon all persons entitled to appeal under the provisions of this article, as to all errors, informalities, omissions, irregularities, and other defects, which the Council might have avoided, or might have remedied, during the progress of the proceedings, or which it can at that time remedy. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.43).
16.15.590 New bonds – Issued when proceedings irregular.
When any court of competent jurisdiction or the Council, of its own volition, determines that any contract purported to have been made, or any proceedings, steps or actions purported to have been taken, or any bond or bonds issued, or levy of benefit assessment made, under this article, is or are void, invalid, or unenforceable for any reason, or any court for any cause enjoins the issuance under this article, or the payment of any pledge or contribution, or the levy of any annual benefit assessment, or any other action or determination which might or will affect the prompt and orderly payment of any such bonds or the interest thereon as they shall accrue, said court or the Council shall also determine that new bonds shall be issued in the place thereof. In such event the Council shall cause a declaration to be filed which shall state the amount of any work performed, improvements made, acquisitions had, and the costs thereof and expenses incidental thereto, and the estimated cost of any future work improvements, acquisition and incidental costs and expenses. Jurisdiction therefor shall be had after notice published and posted and hearing had as provided in Article IV of Chapter 16.10 SCCC or of any general law of the State; provided, that there shall be no bar to said proceedings by reason of a majority or other protest against them. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.44).
16.15.595 Existing bonds – Security.
If the invalidity is not in the bonds themselves or in the issuance thereof, the Council may so declare in the reassessment proceedings. In such event, the reauthorization proceedings shall constitute the proceedings providing the legal authority for the issuance of the outstanding bonds, and the redemption fund created in any reassessment proceedings shall constitute a trust fund for their payment. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.45).
16.15.600 Existing bonds – Exchange.
If the invalidity is in the bonds themselves or in the issuance thereof, or if the Council so determines in the reassessment proceedings, new bonds shall be issued and exchanged for the outstanding bonds. The new bonds shall mature in the amounts and at the times provided for the outstanding bonds, as nearly as may be. If the Council so determines, it may assign different bonds and allot maturities as it deems equitable. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.46).
16.15.605 Existing bonds – Sale of new bonds – Retirement of old bonds.
If any part of the outstanding bonds have matured or will mature before the time for providing for the servicing of the new bonds, or if interest has accrued or will so accrue, the Council may provide for the issuance of additional new bonds in the amount thereof and for their maturity. If the holders of said outstanding bonds, or any other holders of outstanding bonds have refused to accept exchange of bonds therefor, the Council shall sell additional bonds in the amount thereof, and deposit the proceeds in the redemption fund. Said outstanding bonds shall forthwith become due and payable without premium, and shall no longer bear interest. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.47).
16.15.610 Alteration of boundaries.
The boundaries of such district may be enlarged from time to time. The territory to be annexed shall be set forth in a resolution of intention to be adopted by the Council, which shall give notice that said matter, and all persons interested, will be heard by the Council at a time to be stated therein, at the regular meeting place of the Council. Such resolution shall be published twice in a newspaper of general circulation published in the City, the first of which shall be at least ten days before the date fixed for hearing. The hearing may be adjourned from time to time. At the hearing the Council shall have power to determine whether or not the entire territory, or only a portion thereof, to be annexed will be benefited by being annexed. The Council shall by resolution order the annexation of such territory, defining its boundaries therein. Its decision thereon shall be final and conclusive. Thereafter the property annexed shall be subject to special levies for maintenance and operation and for any bonds issued for the acquisition or construction of said improvements. (Ord. 1586 § 1, 5-24-88. Formerly § 16-175.48).
Article IX. Bond Anticipation Notes
16.15.615 Bonds – Bond anticipation note defined.
As used in this article:
(a) "Bonds" means bonds or other evidences of indebtedness of the City or of any area, agency, department, authority, or mandate of the City, including without limitation any local improvement district or the redevelopment agency of the City, which have been duly authorized but not issued and sold.
(b) "Bond anticipation note" means a note issued upon the security of funds receivable from the sale of bonds. (Ord. 1294 § 1, 8-6-74. Formerly § 16-176).
16.15.620 Borrowing by City – Use of funds.
The City Council, acting on behalf of the City or any area, agency, department, authority, or mandate of the City, including without limitation any local improvement district or the redevelopment agency of the City, may borrow money pursuant to this article, such indebtedness to be represented by a bond anticipation note or notes issued to the lender pursuant to this article. The money borrowed may be used and expended by the City solely for the purposes for which the bonds were authorized. (Ord. 1294 § 1, 8-6-74. Formerly § 16-177).
16.15.625 Resolution authorizing issuance.
The bond anticipation note or notes shall be issued pursuant to a resolution authorizing the issuance thereof, adopted by the City Council, acting as such or as the governing body of the issuing agency or authority of the City. Bond anticipation notes authorized to be issued may be issued from time to time as provided in such resolution. The resolution shall set forth the form and the manner of execution of the bond anticipation note or notes, shall generally describe the bonds, and shall include a covenant that the City will diligently take all action legally necessary and appropriate to issue and sell the bonds. The resolution may also contain an assignment of proceeds of the sale of the bonds to the holders or owners of the notes in payment thereof. (Ord. 1294 § 1, 8-6-74. Formerly § 16-178).
16.15.630 Negotiability – Denomination – Maturity – Payment.
Any bond anticipation note issued under this article may be negotiable or may be payable to order or to bearer and may be in any denomination. Such note shall be payable not later than five years after the date of issue and shall be payable solely from the proceeds of the sale of the bonds described in the resolution authorizing its issuance. (Ord. 1294 § 1, 8-6-74. Formerly § 16-179).
16.15.635 Issuance and sale – Interest.
The Council may issue and sell such notes as the Council determines and directs, at public or private sale, at or below their par value and at a rate of interest not to exceed the rate determined by the Council in the resolution authorizing the issuance thereof. The notes shall be payable at the times and in the amounts determined by the Council in said resolution. (Ord. 1294 § 1, 8-6-74. Formerly § 16-180).
16.15.640 Call and redemption prior to maturity.
The resolution authorizing the issuance of any note may provide that such note shall be subject to call and redemption prior to maturity, at the option of the obligor, at such price or prices as may be fixed in the resolution. The resolution shall fix the method of giving notice of redemption to the holder of the note to be redeemed and the price or prices at which the note shall be subject to redemption. A note so subject to call and redemption prior to maturity shall contain a recital to that effect on its face, and no note shall be subject to call or redemption prior to its fixed maturity date unless it contains such recital. (Ord. 1294 § 1, 8-6-74. Formerly § 16-181).
16.15.645 Pledge of bond proceeds – Notes as lien on bond funds.
The proceeds from the sale of the bonds described in the resolution providing for the issuance of the notes shall be pledged for the payment of the bond anticipation note or notes and the interest thereon. The note or notes and the interest thereon are a first lien upon and charge against said proceeds. (Ord. 1294 § 1, 8-6-74. Formerly § 16-182).
16.15.650 Limitation on amount.
Bond anticipation notes may be issued in such principal amount as is set forth in the resolution authorizing their issuance, which may include interest on the notes for their full term; provided, however, that such notes shall not be issued in a principal amount at any time outstanding which, when added to the interest payable thereon for the full period of the notes, exceeds eighty percent (80%) of the authorized principal amount of the bonds described in the resolution authorizing the issuance of the notes. (Ord. 1294 § 1, 8-6-74. Formerly § 16-184).
16.15.655 Refunding.
Any bond anticipation notes outstanding may be refunded by the issuance of refunding notes in such amount as the Council may deem necessary to refund the principal of the notes to be so refunded, any unpaid interest to be paid in connection therewith, any discount and funded interest, and issuing expenses. (Ord. 1294 § 1, 8-6-74. Formerly § 16-185).