§ 7.18

"Area of benefit" means a specified area wherein it has been determined that the real property located therein will benefit from the construction of a major thoroughfare or bridge project.

"Bridge facilities" mean those locations identified in the transportation or flood control provisions of the Circulation Element or other element of the General Plan as requiring a bridge to span a waterway, a railway, freeway or canyon.

The term "construction" as used in this Chapter includes preliminary studies, design, acquisition of right-of-way, administration of construction contacts, and actual construction.

The term "major thoroughfare" means those roads designated as transportation corridors and major, primary, secondary, or commuter highways on the Master Plan of Arterial Highways in the Circulation Element of the General Plan. The primary purpose of such roads is to carry through traffic and provide a network connecting to and including the highway system. (Added by Ord. 95-03, 2/14/95)

The provisions herein for payment of a fee shall apply only if the major thoroughfare or bridge facility has been included in an element of the General Plan adopted by the City Council at least 30 days prior to the filing of a map or application for a building permit and on land located within the boundaries of the area of benefit.

(Added by Ord. 95-03, 2/14/95)

For purposes of carrying out the provisions of this Chapter and in accordance with Government Code Section 66484.3, the City may enter into joint exercise of powers agreements with other local agencies and/or may form joint powers authorities and/or joint powers agencies.

Fees paid pursuant to this Chapter may be utilized to defray all direct and indirect financing costs related to the construction of the bridges and major thoroughfares by the joint powers agency. Because the financing costs of bridges and major thoroughfares for which a toll charge shall be established or collected represent a necessary element of the total cost of those bridges and major thoroughfares, the joint powers agency constructing those facilities may include a charge for financing costs in the calculation of the fee rate. The charge shall be based on the estimated financing cost of any eligible portion of the bridges and major thoroughfares for which tolls shall be collected. The eligible portion shall be any or all portions of the major thoroughfare for which a viable financial plan has been adopted by the joint powers agency on the basis of revenues reasonably expected by the joint powers agency to be available to the thoroughfare, after consultation with representatives of the fee payers.

For purposes of calculating the charge, financing costs shall include only reasonable allowances for payments and charges for principal, interest and premium on indebtedness, letter of credit fees and charges, remarketing fees and charges, underwriters' discount and other costs of

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City of Dana Point, CA § 7.18.020

SUBDIVISIONS

§ 7.18.020

issuance, less net earnings on bridge and major thoroughfare funds by the joint powers agency prior to the opening of the facility to traffic after giving effect to any payments from the fund to preserve the federal income tax exemption on the indebtedness. For purposes of calculating the charge for financing costs in the calculation of the fee rate only, financing costs shall not include any allowance for the cost of any interest paid on indebtedness with regard to each eligible portion after the estimated opening of the portion to traffic as established by the joint powers agency. Any and all challenges to any financial plan or financing costs adopted or calculated pursuant to this Section shall be governed by Government Code Section 66484.3(k). (Added by Ord. 95-03, 2/14/95)

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City of Dana Point, CA

SUBDIVISIONS

§ 7.20.010

§ 7.20.020