The URL can be used to link to this page

Home My WebLink AboutTC Res 2010-08-25RESOLUTION NO. 45-2010 A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF TIBURON DETERMINING REMAINING UNPAID SUPPLEMENTAL ASSESSMENTS FOR DEL MAR VALLEY 2010 SUPPLEMENTAL UTILITY UNDERGROUNDING ASSESSMENT DISTRICT The Town Council of the Town of Tiburon determines, orders and resolves as follows: SECTION 1. RECITALS. a. This Town Council (this "Council") of the Town of Tiburon (the "Town") has previously provided for (a) the formation of its Del Mar Valley 2010 Supplemental Assessment District (the "Supplemental Assessment District"), under and pursuant to the provisions of the Municipal Improvement Act of 1913 (Division 12 of the California Streets and Highways Code) (the "1913 Act"), and (b) the issuance of limited obligation improvement bonds (the "Bonds") pursuant to the provisions of the Improvement Bond Act of 1915 (Division 10 of the Streets and Highways Code; hereafter the "1915 Act"); and b. On July 21, 2010, this Council adopted its resolution approving the Final Engineer's Report, dated July, 2010, as identified in said resolution (the "Final Engineer's Report"), and among other things approving and ordering implementation of the undergrounding of the existing overhead utility facilities (the "Undergrounding Project") located within the public rights-of-way and easements and within or adjacent to the Supplemental Assessment District, and levying the supplemental assessments on the parcels determined to be specially benefited by the Undergrounding Project, in the amounts set forth in the Final Engineer's Report; and C. Thereafter, on July 22, 2010, the Notice of Supplemental Assessment and the assessment diagram for the Supplemental Assessment District were recorded in the official records of the Marin County Recorder, and the individual supplemental assessments thereby became a lien upon the respective individual parcels upon which they had been levied; and d. On July 22, 2010, a notice of supplemental assessment was mailed to the owner or owners of each parcel assessed, advising that all or any portion of each such supplemental assessment could be paid in cash, without interest and at a discount of two percent (2%) (representing avoided financing costs respecting the bond reserve fund), with a deadline of August 23, 2010, for receipt of such cash payments at the office of the Administrative Services Director of the Town (the "Administrative Services Director"); and e. Based upon the completion of these steps, this Council is advised by the Administrative Services Director that the Town will be able to post an installment on account of unpaid supplemental assessments on the 2010-2011 property tax roll of the County of Marin, providing for payment of the debt service on the Bonds on March 2 and September 2, 2011; and f. Following the close of the cash payment period on August 23, 2010, the Administrative Services Director prepared and submitted to the Town Clerk of the Town (the "Town Clerk") a "List of Unpaid Assessments," a copy of which certificate is attached to this resolution as Exhibit A and by this reference incorporated herein, certifying that the amount of unpaid supplemental assessments, as revised to reflect the cash payments received from property owners wishing to prepay their respective supplemental assessments, in whole or in part, without interest, and rounded to the nearest dollar, is $1,962,617; and - g. By this resolution, this Council wishes to establish said amount of unpaid supplemental assessments, rounded down to the nearest $100, as the principal amount of limited obligation improvement bonds to be authorized and issued in these proceedings upon the security of said unpaid supplemental assessments. SECTION 2. RECITALS TRUE AND CORRECT. The foregoing recitals are true and correct, and this Council so finds and determines. SECTION 3. DETERMINATION OF AMOUNT OF UNPAID ASSESSMENTS. This Council hereby finds and determines that, as set forth in the attached certificate, and there being no information to the contrary, the amount of supplemental assessments remaining unpaid in the Supplemental Assessment District, when rounded to the nearest dollar, is the amount set forth in said certificate, namely $1,962,617, and by separate resolution, this Council will authorize the issuance of the Bonds in said principal amount, rounded down to the nearest $100. SECTION 4. RECORDATION OF ADDENDUM TO NOTICE OF SUPPLEMENTAL ASSESSMENT. The Town Clerk is authorized and directed to cause the preparation and recording of an appropriate addendum to the Notice of Supplemental Assessment which was recorded on July 229 2010, to reflect (a) the discharge of lien respecting those parcels for which the supplemental assessment has been fully prepaid and discharged and (b) the reduced amount of the supplemental assessment for those parcels for which the supplemental assessment has been partially prepaid. SECTION 5. TRANSMITTAL TO COUNTY AUDITOR. The Clerk is hereby directed to transmit a certified copy of this resolution to the Marin County Auditor, and the Marin County Auditor is requested to proceed in accordance with Section 8682 of the California Streets and Highways Code in the collection of installments of principal, interest and administrative costs respecting these unpaid supplemental assessments on the secured property tax roll of the County of Marin, commencing with the 2010-2011 tax roll. 2 SECTION 6. EFFECTIVE DATE OF RESOLUTION. This resolution shall take effect immediately upon its adoption. PASSED AND ADOPTED at a regular meeting of the Town Council of the Town Tiburon, State of California, held this 25th day of August, 2010, by the following vote: AYES: COUNCILMEMBERS: Collins, Fraser, Fredericks, O'Donnell, Slavitz NOES: COUNCILMEMBERS: None ABSENT: COUNCILMEMBERS: None / L""z HARD COLLINS, MAY TOWN OF TIBURON ATTEST- z . J DIANE CRANE IAC I, TOWN CLERK 1491156.1 3 FXT-TTRTT A CERTIFICATE RE PAID AND UNPAID SUPPLEMENTAL ASSESSMENTS TOWN QF TIBURON DEL MAR VALLEY 2010 SUPPLEMENTAL UTILITY UNDERGROUNDING ASSESSMENT DISTRICT I HEREBY CERTIFY that the Final Engineer's Report for the Town of Tiburon Del Mar Valley 2010 Supplemental Utility Undergrounding Assessment District (the "Supplemental Assessment District"), together with the attached list of Unpaid Supplemental Assessments, correctly reflect the following: (1) The total amount of supplemental assessments levied on parcels within the Supplemental Assessment District on July 21, 2010, and thereafter recorded in the official records of the Marin County Recorder on July 22, 2010, when rounded down to the nearest dollar, is $2,110,740. (2) The total amount of cash payments received by the Town from property owners on account of supplemental assessments levied in the Supplemental Assessment District, prior to expiration of the cash payment period on August 23, 2010, has resulted in a total reduction in the amount of unpaid supplemental assessments of $148,122 (when rounded to the nearest dollar). (3) After deducting the amount set forth in paragraph 2 above on account of cash payments received during the cash payment period, the amount of supplemental assessments remaining unpaid in the Supplemental Assessment District is $1,962,617. Executed at Tiburon, California, on August 24, 2010. Heidi Bigall Administrative Services Director Town of Tiburon Attach - List of Unpaid Supplemental Assessments 1491156.1 4 EXHIBIT A TOWN OF TIBURON Del Mar Valley 2010 Utility Undergrounding Assessment District LIST OF UNPAID ASSESSMENTS Asmt. No. APN Series 2010 Bonds Unpaid Assessment 1 055-142-03 $14,812.21 2 055-142-04 $14,812.21 3 055-142-17 $14,812.21 4 055-142-06 $14,812.21 5 055-142-21 $14,812.21 6 055-142-19 $14,812.21 7 055-142-16 $14,812.21 8 055-142-01 $14,812.21 9 055-142-08 $14,812.21 10 055-142-09 $14,812.21 11 055-142-10 $14,812.21 12 055-142-11 $14,812.21 13 055-142-12 $0.00 14 055-142-13 $0.00 15 055-142-14 $0.00 16 055-182-06 $14,812.21 17 055-182-07 $14,812.21 18 055-183-01 $14,812.21 19 055-183-02 $14,812.21 20 055-183-03 $14,812.21 21 055-144-01 $14,812.21 22 055-144-02 $14,812.21 23 055-144-03 $14,812.21 24 055-144-04 $14,812.21 25 055-144-05 $14,812.21 26 055-144-06 $14,812.21 27 055-143-01 $0.00 28 055-143-02 $0.00 29 055-143-03 $14,812.21 30 055-143-04 $14,812.21 31 039-135-02 $14,812.21 32 039-135-01 $0.00 33 039-135-03 $0.00 34 039-135-04 $14,812.21 35 039-135-05 $14,812.21 36 039-135-06 $0.00 37 039-135-07 $14,812.21 38 055-141-01 $14,812.21 39 055-141-02 $14,812.21 40 055-141-03 $14,812.21 41 055-141-07 $0.00 42 055-141-05 $0.00 43 039-134-13 $0.0011 Page 1 of 5 EXHIBIT A TOWN OF TIBURON Del Mar Valley 2010 Utility Undergrounding Assessment District LIST OF UNPAID ASSESSMENTS Asmt. No. APN Series 2010 Bonds Unpaid Assessment 44 039-134-12 $0.00 45 039-134-11 $0.00 46 039-134-10 $0.00 47 039-134-09 $0.00 48 039-134-08 $0.00 49 039-134-17 $0.00 50 039-134-15 $0.00 51 039-134-25 $14,812.21 52 039-134-27 $14,812.21 53 039-134-26 $14,812.21 54 039-134-22 $14,812.21 55 039-134-19 $14,812.21 56 055-102-27 $14,812.21 57 055-102-26 $14,812.21 58 055-102-25 $14,812.21 59 055-102-24 $14,812.21 60 055-102-30 $14,812.21 61 039-131-11 $14,812.21 62 039-131-10 $14,812.21 63 039-131-09 $14,812.21 64 039-131-14 $14,812.21 65 039-131-15 $0.00 66 039-131-06 $14,812.21 67 039-133-09 $14,812.21 68 039-133-10 $14,812.21 69 039-133-11 $14,812.21 70 039-133-12 $14,812.21 71 039-133-13 $14,812.21 72 039-133-14 $14,812.21 73 039-133-15 $14,812.21 74 039-133-08 $14,812.21 75 039-133-07 $0.00 76 039-133-06 $14,812.21 77 039-133-05 $0.00 78 039-133-04 $14,812.21 79 039-133-03 $14,812.21 80 039-133-02 $14,812.21 81 039-133-01 $14,812.21 82 039-131-05 $14,812.21 83 039-131-04 $14,812.21 84 039-131-13 $14,812.21 85 039-131-12 $14,812.21 86 039-131-01 $14,812.21 Page 2 of 5 EXHIBIT A TOWN OF TIBURON Del Mar Valley 2010 Utility Undergrounding Assessment District LIST OF UNPAID ASSESSMENTS Asmt. No. APN Series 2010 Bonds Unpaid Assessment 87 039-141-01 $14,812.21 88 039-141-02 $14,812.21 89 039-141-03 $14,812.21 90 039-141-04 $14,812.21 91 039-141-05 $14,812.21 92 039-141-06 $14,812.21 93 039-141-07 $14,812.21 94 039-141-08 $14,812.21 95 039-141-09 $14,812.21 96 039-141-10 $14,812.21 97 039-141-11 $14,812.21 98 039-132-01 $14,812.21 99 039-132-02 $14,812.21 100 039-132-15 $14,812.21 101 039-132-14 $14,812.21 102 039-132-05 $14,812.21 103 039-132-06 $14,812.21 104 039-132-07 $14,812.21 105 039-132-08 $0.00 106 039-132-11 $14,812.21 107 039-132-12 $14,812.21 108 039-031-01 $14,812.21 109 039-031-02 $14,812.21 110 039-031-30 $14,812.21 111 039-261-04 $7,406.11 112 039-261-03 $4,937.40 113 039-261-02 $4,937.40 114 039-261-01 $4,937.40 115 039-033-03 $14,812.21 116 039-033-02 $14,812.21 117 039-033-01 $0.00 118 039-070-32 $14,812.21 119 039-070-33 $14,812.21 120 039-032-08 $14,812.21 121 039-032-10 $14,812.21 122 039-032-09 $14,812.21 123 039-032-06 $0.00 Page 3 of 5 EXHIBIT A TOWN OF TIBURON Del Mar Valley 2010 Utility Undergrounding Assessment District LIST OF UNPAID ASSESSMENTS Asmt. No. APN Series 2010 Bonds Unpaid Assessment 124 039-032-05 $14,812.21 125 039-032-04 $14,812.21 126 039-032-03 $14,812.21 127 039-032-02 $14,812.21 128 039-222-19 $14,812.21 129 039-222-20 $14,812.21 130 039-222-18 $14,812.21 131 039-222-21 $14,812.21 132 039-031-04 $14,812.21 133 039-031-27 $14,812.21 134 039-031-19 $14,812.21 135 039-031-25 $14,812.21 136 039-031-08 $14,812.21 137 039-031-26 $14,812.21 138 039-031-29 $14,812.21 139 039-031-11 $14,812.21 140 039-031-12 $14,812.21 141 039-031-13 $0.00 142 039-031-14 $14,812.21 143 039-031-15 $14,812.21 144 039-031-31 $14,812.21 145 039-031-17 $14,812.21 146 039-141-13 $14,812.21 147 039-141-23 $14,812.21 148 039-141-21 $14,812.21 149 039-141-16 $14,812.21 150 039-141-17 $0.00 151 039-141-18 $0.00 152 039-141-19 $14,812.21 153 039-141-20 $14,812.21 154 039-141-12 $14,812.21 155A 039-223-02 $14,812.21 1558 039-221-14 $14,812.21 156 039-223-01 $0.00 158 039-221-13 $14,812.21 159 039-221-07 $14,812.21 160 039-221-11 $14,812.21 161 039-222-25 $0.00 162 039-222-24 $14,812.21 163 039-222-26 $14,812.21 164 039-222-23 $14,812.21 $1,962,617.95 Page 4 of 5 EXHIBIT A TOWN OF TIBURON Del Mar Valley 2010 Utility Undergrounding Assessment District LIST OF UNPAID ASSESSMENTS Series 2010 Bonds Unpaid Assessment Asmt. No. APN Page 5 of 5