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<br />.s. 46.3/ <br /> <br />Because Proposition No. 218 requires that any increase in annual levies <br />be subjected to a majority protest vote of affected property owners, the <br />proceedings for approyal of the FY 2005/06 through FY 2009-2010 assessment <br />levy include a majority protest election. In consultation with property owners, <br />staff has prepared a 5-year budget for the District. Property owners will vote to <br />approve the maximum annual proposed levy during the 5-year budget period, <br />and a cumulatiye levy during such 5-year period. <br /> <br />The Engineer's Report, set forth as an attachment to this report, includes <br />the 5-year budget of the District, the formula for allocating the annual budget <br />requirement among property owners, and an assessment spread showing the <br />amount to be levied on each parcel in the District. <br /> <br />The property owner ballot and the notice to be mailed to property owners <br />as required pursuant to Proposition 218 are included as exhibits to the resolution <br />of intention to levy assessments that is before the Council for its consideration. <br /> <br />Respectfully submitted, <br /> <br />ED EVERETT <br />City Manager, City of Redwood City <br /> <br />Attachment A - <br /> <br />Seaport Boulevard Landscape Maintenance District <br />Engineer's Report <br /> <br />\ Restored Llbrar, ASSESS\1E:\'T DISTRlCTS Seapon Bh'd Landscape1005 SP BLVD CM RTP J ,doc <br />