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05/24/2010 <br /> �- owners voted in favor of the five-year budget covering 2000-2005 and approved the <br /> � <br /> assessment for the years covered. On July 11, 2005, a property owner election was <br /> called and all owners voted in favor of the five-year budget covering 2005-1020 and <br /> approved the 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 Report <br /> pertaining to the assessments proposed to be levied on properties within the District, <br /> accompanying the City Manager's Report, has been prepared and submitted to this <br /> ,�� Council for approval. <br /> � <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 2010-2011 through 2014-2015, <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 /> ,�� <br /> #15024 <br /> Muff#507 <br />