Res12 15196 - Laserfiche WebLink

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(b) Necessary replenishment or expenditure of bond reserve funds, other reserve funds or accumulation of funds for future payments including any amount required by Federal law to be rebated to the United States on the same debt; (c) Payment of costs and expenses of authorized public facilities; (d) Repayment of advances and loans, if appropriate; and (e) Payment of District administrative costs. The proceeds of the special taxes shall be used as set forth above, and shall not be used for any other purpose. 5. The special tax shall be collected in the same manner as ordinary ad valorem property taxes are collected, and shall be subject to the same penalties and same procedures, sale and lien priority in cases of any delinquency as is provided for ad valorem taxes, and the San Mateo County Tax Collector is hereby authorized to deduct reasonable administrative costs incurred in collecting any said special tax. 6. All monies collected shall be paid into the District funds, including any bond fund and reserve fund. 7. For the purpose of collecting this special tax, the City Manager or his designee is authorized to timely file with the San Mateo County Auditor and Tax Collector, in the format and media specified by the County, a list showing the amount of the special tax levied upon each parcel of taxable property in the District. 8. The San Mateo County Auditor shall then, at the close of the tax collection period, promptly render to the legislative body a detailed report showing the amount and/or amounts of such special tax installments, interest, and penalties so collected for the District and from what property those revenues were collected identifying any properties which are delinquent and the amount and length of time in arrears, and also provide a statement of the percentage retained by the San Mateo County Auditor for the expense of making any such collection and the report. 9. This Resolution relating to the levy of the special tax shall take effect immediately upon its adoption in accordance with the provisions of section 53340 of the California Government Code, as amended. * * * * * * ATTY/RES0.2240lANNUAL TAX LEVY CFD99-1 RESO.#15196 REV:5-21-12 HS MUFF#505 2