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6.3D <br />Page 5 <br />owners voted in favor of the five-year budget covering 2000-2005 and approved the <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 />(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 />Atty/Reso/Reso.2011 <br />051010 g <br />