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City of Hermosa Beach --- 07-13-99PROJECT NO. CIP 97-182 MYRTLE AVENUE, UTILITY UNDERGROUNDING ASSESSMENT DISTRICT NO. 97-1 PROTEST HEARING AND TABULATION OF THE BALLOTS Purpose: This report recommends that City Council hear and consider all comments and protests relating to the proposed proceedings such as:
In addition, it is recommending the tabulation of the required ballots. Recommendation : It is recommended that the City Council adopt the attached resolutions entitled:
Background : On May 11, 1999, the City Council held a Public Hearing in association with Utility Undergrounding Assessment District No. 97-1. At the conclusion of the public hearing the City Council adopted the following resolutions:
In addition, City Council directed the City Manager to execute the agreements between the City, the Financial Advisor and Bond Counsel. Analysis: During the public hearing, the City Council shall consider all evidence for and protests against the proposed assessment and shall tabulate the ballots. The City Council shall not impose an assessment if there is a majority protest. A majority protest exists if, upon the conclusion of the hearing, (1) there is a majority protest as set forth in Section 2930 of the Streets and Highways Code (the 1931 Act) or (2) ballots submitted in opposition to the assessment exceed the ballots submitted in favor of the assessment. In tabulating the ballots, the ballots shall be weighted according to the proportional financial obligation of the affected property. After the approval and confirmation of the District, the Assessment Diagram and Notice of Assessment will be recorded at the County of Los Angeles. In addition, the Notice of Assessment with instructions for payment will be mailed to each property owner. Fiscal Impact : All construction costs and incidental expenses such as engineering design, contract administration and inspection, special bond counsel, bond servicing, and bond discount/special reserve fund will be repaid by an assessment to the property owners within the District. The total amount to be funded is $1,648,117. Attachments: Exhibits
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