Palm Desert Municipal Code Ch. 17.01 General Provisions

This title shall be deemed to provide a complete, additional, and alternative method for doing the things authorized hereby, and shall be regarded as supplemental and additional to the powers conferred by the City Charter and other laws.

(Ord. 1175 §1, 2008)

The city council, exercising the powers reserved to the city under the Constitution of the state of California and its powers under the Charter of the city, may determine that bonds shall be issued as provided in this title to be secured by contractual assessments levied pursuant to the Act. Such bonds may be serial or term bonds, or both, and shall be issued and sold to assist in financing or refinancing improvements or to reimburse the city for advances made to finance improvements.

The city may transfer in trust or assign for the benefit of any bond owners, or take any other action that the city council deems necessary or desirable with respect to, all of the right, title and interest of the city in the contractual assessment agreements, including the city's rights to receive the contractual assessments and any and all of the other rights of the city under the contractual assessment agreements as may be necessary to enforce payment of such contractual assessments when due or otherwise to protect the interest of the owners of the bonds.

(Ord. 1175 §1, 2008)

Unless the particular provision or the context otherwise requires, the definitions and general provisions contained in this chapter shall govern the construction of this title.

"Act"

means Chapter 29 of Part 3 of Division 7 of the California Streets and Highways Code, commencing with Section 5898.10.

"Administrative assessment"

means the annual assessment levied on each parcel to pay costs incurred by the city and not otherwise reimbursed which result from the administration and collection of assessments or from the administration or registration of any associated bonds and reserve or other related funds.

"Bond", and any of its variants,

means bonds, notes, commercial paper or other evidences of indebtedness.

"Contractual assessment agreements"

means the agreements by and between the city and property owners whereby the city has extended loans to such property owners to finance improvements to the owners' properties pursuant to the Act.

"Contractual assessments"

means the assessments made pursuant to the Act. "contractual assessments" do not include administrative assessments.

"City"

means the city of Palm Desert.

"City clerk"

means the person who is or acts as clerk of the city or any person designated by such clerk to perform the duties of the clerk.

"City manager"

means the city manager of the city.

"City council"

means the council of the city.

"Engineer"

means the city officer appointed by the city council to perform the duties imposed on the engineer.

"Improvement" or "improvements"

means all work and improvements, authorized or undertaken by any property owner, which are authorized to be done under the Act.

"Resolution of intention"

means the resolution of intention adopted by the city council pursuant to Section 5898.20 of the Act.

"Superintendent of streets"

means the city officer appointed by the city council to perform the duties imposed on the superintendent of streets.

"Treasurer"

means the city treasurer.

"Trust indenture"

means the trust indenture or other similar agreement to be executed or the resolution to be adopted in connection with the issuance of bonds.

(Ord. 1175 §1, 2008)

The provisions of this title relative to the time or place of performance of official duty or relative to the form of any resolution, notice, agreement, order, list, certificate of sale, deed or other instrument are directory only.

(Ord. 1175 §1, 2008)

Any references to a California Code shall be references to such law as it is amended from time to time.

(Ord. 1175 §1, 2008)

Notwithstanding any other provision of this title, income realized from the investment of money on deposit in a fund or account established pursuant to this title may be used, at the option of the city council, to pay all or any portion of any amount required to be rebated to the United States.

(Ord. 1175 §1, 2008)