Res20 15901 - Laserfiche WebLink

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10/26/2020 Facilities Special Tax, the applicable annual Services Special Tax rate, and the Services Special Tax applicable to all such Taxable Parcels (the "Special Tax Report"). The City Manager shall also prepare the Tax Collection Schedule for the County Auditor identifying the annual Special Tax liability for each Taxable Parcel (comprised of the applicable Facilities Special Tax and Services Special Tax for each such Taxable Parcel) , requesting that the Tax Collection Schedule be placed on the County's secured property tax roll for the applicable Fiscal Year. The Tax Collection Schedule shall be sent to the County Auditor no later than July 31 or such prior date required by the County Auditor for such placement. Notwithstanding the foregoing, if for any reason the Special Tax levy for a Taxable Parcel will not be included on the County's secured property tax roll for the upcoming Fiscal Year, the CFD may levy the Special Taxes for such Fiscal Year by means of a direct billing of the owners of the Taxable Parcels. In such event, the City shall issue Special Tax invoices to the owners of the Taxable Parcels which shall (i) identify the Assessor's parcel number and the applicable Facilities Special Tax and Services Special Tax for such Taxable Parcel, (ii) the amounts to be paid no later than December 10 and April 10 of the applicable Fiscal Year, and the penalty amount if the payments are not timely made, and (iii) the statement that failure to pay either or both of the Facilities Special Tax and/or Services Special Tax amounts can result in foreclosure proceeding against such defaulting Taxable Parcel in accordance with Section 53356.1 of the Act, which authorizes foreclosure of debt -related special taxes. Failure of the City or the CFD to directly invoice the owner of a Taxable Parcel subject to the levy of Special Taxes shall in no way affect the validity of or result in a waiver of the right to levy such Special Tax levy. The City shall make every effort to correctly assign the applicable Special Tax rates and calculate the annual Special Tax liability for each Taxable Parcel and, if requested, the Installment Payment Obligation Prepayment Amount for a Taxable Parcel. It shall be the burden of the taxpayer to correct any errors in the determination and classification of the Parcels subject to the Special Tax and their respective Special Tax and prepayment amount liabilities. SECTION 6 MANNER OF COLLECTION The Special Taxes shall be collected in the same manner and at the same time as ordinary ad valorem property taxes, except as set forth in Section 5 hereof. SECTION 7 PREPAYMENT OF FACILITIES SPECIAL TAXES Subsequent to the execution and delivery of the Purchase Agreement, the owner of any Fully Taxable Parcel may prepay the Facilities Special Tax to be levied against such Parcel at any time before the Remaining Installment Payment Obligation has been paid in full upon providing the City with written notice of intent to prepay. Within 30 days of receipt of such written notice, the City or its designee shall notify such owner of the prepayment amount for such Fully Taxable Parcel. Facilities Special Taxes may not be prepaid in part. Optional prepayment of Facilities Special Tax for each Fully Taxable Parcel shall be determined by the City Manager as of July 1 of the current Fiscal Year as follows. ATTY/RESO.0121/CC RESO REDWOOD CITY ROI ESTABLISH RESO, N0. 15901 REV: 11-02-2020 MI MUFF NO. 506 Page 17 of 22