Imperial Municipal Code § 21-31 Taxation

hereby establishes a Community Facilities District entitled “City of Imperial Community Facilities district 2004-1 (Victoria Ranch)” to acquire and/or construct the Facilities, and authorizes and levies special taxes within the District pursuant to California Government Code Sections 53328 and 53340, at the rates and in accordance with the method of apportionment set forth in Exhibit B (the “Rate and Method of Apportionment”). The special taxes are hereby levied commencing in fiscal year 2004-2005, or the first fiscal year following the issuance of Bonds in an amount not to exceed $25,000,000 by the District, whichever last occurs, and in each fiscal year thereafter until payment in full of any bonds of the City issued for the District (the “Bonds”), and payment of all costs of administering the District.

authorized and directed each fiscal year to determine the specified tax rate and amount to be levied for the next ensuing fiscal year for each parcel of real property within the District, in the manner and as provided in the Rate and Method of Apportionment.

governments shall be exempt from any levy of the special taxes, to the extent set forth in the Rate and Method of Apportionment. In no event shall the special taxes be levied on any parcel within the District in excess of the maximum tax specified in the Rate and Method of Apportionment.

provided for in the Act, the Rate and Method of Apportionment, and in the Ordinance of Formation including, but not limited to, the payment of principal and interest on the Bonds, the replenishment of the reserve fund for the Bonds, the payment of the costs of the Facilities, the payment of the costs of the City in administering the District and the costs of collecting and administering the special tax.

time as necessary to meet the financial obligations of the District on the secured real property tax roll in the same manner as ordinary ad valorem taxes are collected. The Finance Director of the City is hereby authorized and directed to provide all necessary information to the auditory/tax collector of the County of Imperial and to otherwise take all actions necessary in order to effect proper billing and collection of the special tax, so that the special tax shall be levied and collected in sufficient amounts and at the times necessary to satisfy the financial obligations of the District in each fiscal year until these Bonds are paid in full and provision has been made for payment of all of the administrative costs of the District.

Notwithstanding the foregoing, the Finance Director of the City may collect one

or more installments of the special taxes by means of direct billing by the City of the property owners within the District, if, in the judgment of the Finance Director, such

IMPERIAL CITY CODE CHAPTER 21 - TAXATION

means of collection will reduce the administrative burden on the City in administering the District or is otherwise appropriate in the circumstances. In such event, the special taxes shall become delinquent if not paid when due as set forth in and, such respective billing to the property owners.

Whether the special taxes are levied in the manner provided in the first or the

second preceding paragraph, the special taxes shall have the same lien priority, and be subject to these same penalties and same procedure and sale in cases of delinquency as provided for ad valorem taxes. In addition, the provisions of Section 53356.1 of the Act shall apply to delinquent special tax payments.

annual appropriations limit, as defined by subdivision (b) of Section 8 of Article XIII B of the California Constitution, of the District is hereby established at $1,000,000.

found to be invalid, or if the special tax is found inapplicable to any particular parcel within the District, by a Court of competent jurisdiction, the balance of this resolution and the application of the special tax to the remaining parcels within the District shall not be affected. (Ord. 685)