RESOLUTION NO. 2005-____

A RESOLUTION LEVYING SPECIAL BENEFIT ASSESSMENTS IN THE AMOUNT OF $292,758.18 FOR THE TOLMAN CREEK ROAD LOCAL IMPROVEMENT DISTRICT FOR IMPROVEMENTS TO TOLMAN CREEK ROAD CONSISTING OF PAVING, CURBS, GUTTERS, STORM DRAINS, SIDEWALK, AND ASSOCIATED IMPROVEMENTS

THE CITY OF ASHLAND RESOLVES AS FOLLOWS:

RECITALS:

A. The City of Ashland has constructed curbs, gutters, sidewalks, storm drain, and paving as a result of the Tolman Creek Road Local Improvement District (LID)

B. The total cost for these improvements is in the amount of $747,551.36. An applied credit of $454,793.18 has reduced the total assessment to be levied against the owners of property within the district to $292,758.18. Credits were derived from the jurisdictional transfer fee from Jackson County for $68,820.00, pre-paid assessments allocated to the Clay Creek Gardens Subdivision for $64,175.00, City participation in accordance with Resolution No. 99-09 adopted on February 3, 1999 for $295,960.46 and additional City participation of $25,837.72 resulting from the maximum cap excess as required under Resolution 99-09.

C. The total assessments in this district are reasonable assessments and the assessments charged against each lot is according to the special and peculiar benefits accruing to it from the improvements. The council finds that the evidence presented by James H. Olson, Project Manager, in the Council Communication of May 17, 2005, is convincing and accepts such evidence as the basis to support the conclusions recited above.

D. Special benefit assessments should now be levied against properties benefited to defray the expense thereof.

THE CITY OF ASHLAND RESOLVES AS FOLLOWS:

SECTION 1. The amount of the assessment to be charged against each lot within the local improvement district according to the special and peculiar benefits accruing to each lot for these improvements are set forth in the attached Exhibit A.

SECTION 2. Any owner of property assessed for $100.00 or more may request the payment be extended in the manner and under the provisions of the Bancroft Bonding Act, if the request is made within thirty days after notice of the assessment is received.

SECTION 3. All assessments using the Bancroft Bonding Act are required to pay in 20 semi-annual (twice a year) installments together with interest. Interest charged will be the actual bond sale rate plus 1.5 percent, with a maximum of 10 percent. The initial interest to be charged is 7.75 percent.

SECTION 4. Classification of the assessment. The assessments specified in sections 1 of this resolution are classified as not subject to the limits of Section 11b of Article XI of the Oregon Constitution.

SECTION 5. This Resolution takes effect upon signing by the Mayor.

This resolution was read by title only in accordance with Ashland Municipal Code Section 2.04.090 duly

PASSED and ADOPTED this ______day of ______, 2005:
Barbara Christensen, City Recorder

SIGNED and APPROVED this ______day of ______, 2005:
John W. Morrison, Mayor

Reviewed as to form:
Michael W. Franell, City Attorney