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and Director of Finance are authorized and directed to calculate the annual <br />assessments based upon the aforesaid formula, subject to the aforesaid <br />limitation, and thereafter to implement the levy and collection of said <br />assessments in succeeding fiscal years in accordance with the formula set forth <br />in said Manager's and Engineer's Reports. Pursuant to the provisions of <br />Government Code Section 53753.5 (added by Chapter 37, Stats. 1997) the <br />requirements of Section 4 of Article XIII D of the California Constitution shall not <br />apply to assessments to be levied for fiscal years subsequent to fiscal year <br />1997-98 unless the assessment methodology is changed to increase the <br />assessment, or the amount of that assessment is proposed to exceed the <br />amount determined pursuant to the assessment formula approved and adopted <br />hereby; and <br /> <br /> WHEREAS, there has been presented to this Council for review and <br />approval an engineering report ("the "Report"; form dated June 22, 1998), <br /> <br />prepared in accordance with the aforesaid formula; <br /> NOW THEREFORE; <br /> <br /> BE IT RESOLVED BY THE COUNCIL OF THE CITY OF REDWOOD <br />CITY, AS FOLLOWS: <br /> <br /> 1. The special benefit assessments described in the above-mentioned <br />Report shall be levied and collected annually upon the last equalized, secured <br />and utility tax rolls upon which ad valorem taxes are collected. Said <br />assessments shall be in addition to all other ad valorem property taxes levied, <br /> <br />Res(~432 4 <br />F:/Share~Redwood/Counc[I <br />FXS/fs <br />o~/~ 13377 <br /> <br /> <br />