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05/23/2005 <br />(e) On May 22, 2000, the District was ratified in accordance with Proposition <br />218 and a property owner election called. On July 10, 2000, the vote was tallied. All <br />owners voted in favor of the five -year budget covering 2000 -2005 and approved the <br />assessment for the years covered. <br />(f) In accordance with Section 18.104 of the Ordinance, the City Manager's <br />Report for the District has been prepared and submitted to this Council setting forth a <br />budget, the formula or formulae for the annual assessment levy and related <br />information; additionally, in accordance with the provisions of Section 4(b) of Article <br />XIIID of the California Constitution, as added by Proposition 218, an Engineer's <br />Report pertaining to the assessments proposed to be levied on properties within the <br />District, accompanying the City Manager's Report, has been prepared and submitted <br />to this Council for approval. <br />(g) The annual assessments proposed to be levied on properties within the <br />District, as set forth in the aforesaid Manager's and Engineer's Reports (collectively, <br />the "Reports "): <br />(i) have been established pursuant to a 5 -year budget for fiscal <br />years 2005 -2006 through 2009 -2010, <br />(ii) are subject to a maximum cumulative assessment equal to the <br />sum total of the projected budgets for such 5 -year period, <br />(iii) are limited to a maximum annual assessment during such 5 -year <br />period equal to the year with the largest projected budget. <br />Atty /Reso /Reso.1537 14644 <br />051805 3 Muff # 507 <br />