HomeMy WebLinkAboutORD 3562e ORIGINAL
, ORDINANCE NO. 3562
ORDINANCE OF THE COUNCIL OF THE CITY OF PALO ALTO
FIXING AN ASSESSMENT FOR FISCAL YEAR 1984-85 FOR
THE CALIFORNIA AVENUE DISTRICT OFFSTREET PARKING
PROJECT NO. 55-5
The Council of the City of Palo Alto does ·oRDAIN as follows:
SECTION t. There is hr:-reby levied against'· and upon all of tile .
real property (land and improvements thereon) within the assesslllent
district formed pursuant. to ResoliJtion of Intention No. 2650 adopted
September 12, 1955 (~xclusive of public property in use in the perfor
mance oi a public function), a special assessm~nt in the sum of $.0585
upon each One Hundr~d Dollars ($100) of full cash valu~tion thereof,
for interest and principal installments due on Bond Plan E, California
Avenue District Parking Bonds of 1955.
SECTION 2. The Council finds that this is not a project under the
Californ1a Environmental Quality Act andt therefore, no envi~onmental
impac~ assessment is necessary.
SECTION 3. This ordinance shall be effective upon its adoption.
INTRODUCED AND PASSED: August 6, 1984
AYES: aechtel, Cobb, Fletcher, Klein, Levy, Renzel, Sutorius,
-Witherspoon, Woolley
NOES: None
ABSTENTIONS: None
ABSENT: None
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D AS TO FORM:
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Department of Fin.ance
(415)329-2567
Trl .sur~r-Tax Co 1 lector
P.O lOX 10%~0
PALO AdO, C:"-._.303
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August 7, 1984
County Gov~rnment C~nter, East Wing
70 We5t Heddi~; Street
San <J.ose, California 95110
Attention: Leode Franklin, hcting Tax Collector
Oear Ms. Frankl in:
Last night the Counci 1 set ••ad valore;n" rates for the Cal iforniiil Avenue
Parking O'strict: a total S.1036 ($.0585 for Project 55·5 and $.0451
for Project 60-8).
Oraft copies of the ordinances are of!nclosed. We. wi 11 forward conformed
· c.of>ies when they are 8\faflable---p\·obably next week.
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Enclosures
~c;: Ann Ta.nner. C~ ty Clerk
Respectfully submi.tted~
MARK R. HARRIS
Oirector of Finar.ce •
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"--uSt ~. 1984
TME I«JJIRA8LE c tn coe.~ttt .IL
P•lo Alto. California·,
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Cilifornia Avenue Parkins District •Ad Valorem• Assess.ent Rate
t!IJ.il-85 ' ' '
~ tttached ordinanc~s. ~en enacted, will fi~ the 1984-85 ad valorem u~ss.ent rates for the Californi~ Avenue Parking Djstrfct ~ required
bJ Section 13.16.1~ (p) of the Municipal Code.. The purp~~ of this
tpeeill asses~nt is to provide aonies to .eet the annual principal
Md interest costs of outsta:1cii ng parking bonds issu~ ur.:ler Bond Plan
£.
The r•tes are detentined by dfv1d1ng the net su• of mney needed for
bond retirnent ~Y tne total f~H C·~Sh valuation of sec"red properties
i• the di'\trict. The resulting r,._te per $100 of full qsh walue 1s ·
.,.,lied 'to tile value of each parcel of property ia V.e·.Distri'-'t• to·
establish its proportional share of tt-e annual cost ..
'hie r1te required for tite Ct11forn1a Av~e District used on a 1984-85
11111 cesh wlue of $33.8~1387 (19B3-&i c1sh wlue -. $26,974_.210)
-.ld a.:
' 1 !183-, ' 1984-85
llftCI Retiraent )~~t · ·J: ..,;mt Rite.
ttY ao..ds t·,roJect ~os) $19.521i · .• s.ont· ,_,sJ.~IM · s .. 0585
1!&2 lohds (ProJect tiQ-08) · , l5jt872' .•._0581r> :v/:J5a291 ·04~1-
Tet•l.,:~ses~· and Rate ·. $35.400 ·. S~~-)~U .·· 'c:·~.i~S $~1036.
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llspectf~~tHJ S\IMritted.
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