BOE Min 1997-07-28 - Laserfiche WebLink

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responsible for bond service and associated administrative costs." The process of equalization and setting rates includes contracting with Charles B. Warren, a certified appraiser, "who determines the market value of the properties in the District. The roll is submitted to the City Council sitting as the Board of Equalization" If the Board accepts the roll, "the City Council then sets the rates which provide for the debt service and necessary reserves for bond funds. The rates have been decreasing as the cost of debt service is spread over a broader base. The last of the bonds will be paid off in 2009." In response to questions from the Board, Manager Somers advised the equalization process has nothing to do with the Facilities Fees Committee. 4) Public comment; None. 5) Close the public hearing; MIS: BUCHAN/LA BERGE TO CLOSE THE PUBLIC HEARING. CARRIED BY UNANIMOUS VOTE OF DIRECTORS PRESENT AND HEARING CLOSED AT 7:07 P.M. MINUTE ORDER NO. 97-151 6) Board of Directors determination of assessment and consideration of applications and motion; and action: MIS: BUCHANIHOWARD DECLARE THE ASSESSMENT ROLL FOR GID NO. 1-64 EQUALIZED AS SUBMITTED (OR AS CORRECTED IF CHANGES MADE), NOTING THAT THE DEADLINE FOR FILING APPEALS IS SEPTEMBER 26, 1997. CARRIED BY UNANIMOUS ROLL CALL VOTE OF DIRECTORS PRESENT. MINUTE ORDER NO. 97-152 7) Mayor Hartnett announced that all appeal applications must be received by September 26, 1997. The appeal hearing will be held on December 8, 1997, at 7:00 p.m., or as soon thereafter as possible; -------------------------------------------------------------------------------------------------------------------------- 4. ADJOURNMENT MIS: LA BERGEIHOWARD ADJOURN THE BOARD OF EQUALIZATION MEETING. CARRIED BY UNANIMOUS VOICE VOTE AND MEETING ADJOURNED AT 7:08 p.m. tlt :â: City Clerk REGULAR BOARD OF EQUALIZATION MEETING JULY28,1997 MINUTES MINUTE BOOK NO. 55 PAGE 2 Page No. 474