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(e) In accordance with Section 18.104 of the Ordinance, the City <br />Manager's Report for the District has been prepared and submitted to this <br />Council setting forth a budget, the formula or formulae for the annual <br />assessment levy and related information; additionally, in accordance with the <br />provisions of Section 4(b) of Article XlIID of the California Constitution, as added <br />by Proposition 218, an Engineer's Report pertaining to the assessments <br />proposed to be levied on properties within the District, accompanying the City <br />Manager's Report, has been prepared and submitted to this Council for approval. <br /> <br /> (f) The formula for the annual assessment proposed to be levied on <br />properties within the District, as set forth in the aforesaid Manager's and <br />Engineer's Reports has been modified to to provide for an annual compound <br />increase of not more than three (3) percent in the District budget to be allocated <br />among specially benefited parcels subject to assessment, which modified <br />formula is described and set forth in Exhibit "C", entitled, "Method of Assessment <br />Spread - Seaport Centre Maintenance District," attached hereto and by this <br />reference incorporated herein. <br /> <br /> (g) Based on the Engineer's Report attached hereto, the public areas to <br />be maintained do not benefit the public generally but are of sole benefit to the <br />properties in the District. <br /> <br /> (h) In addition to providing for the spread of assessments in proportion to <br />the special benefit derived by each parcel identified within the District upon <br />which the assessment is to be levied, the formula also provides for a continuing <br />assessment subsequent to fiscal year 1999-2000, without further approval by <br /> <br />Reso-672 3 <br />F'/sh/shRO/Oounci[ ].3645 <br />05/17/99R, 06/03/99R <br />FXS:rg <br /> <br /> <br />