HomeMy WebLinkAbout2003-16 Authorize Tolman LIDRESOLUTION NO. 03- I/,~p
A RESOLUTION AUTHORIZING AND ORDERING THE LOCAL
IMPROVEMENTS FOR CONSTRUCTION IMPROVEMENTS TO
TOLMAN CREEK ROAD CONSISTING OF SIDEWALKS, PARKROWS,
PARKING BAYS, BICYCLE LANES, PEDESTRIAN SAFETY
IMPROVEMENTS TO INTERSECTIONS, TRAFFIC DIVERTER
ISLANDS, DRAINAGE AND ASSOCIATED IMPROVEMENTS AND
AUTHORIZING THE CITY TO BORROW MONEY AND ISSUE AND '
SELL NOTES FOR THE PURPOSE OF PROVIDING INTERIM
FINANCING FOR THE ACTUAL COST OF THE LOCAL IMPROVEMENT
RECITALS:
A. The Council has declared by resolution its intention to develop the improvements
described in the above title and in the improvement resolution previously adopted and
to assess upon each lot or part of lot benefited by the improvement its proportional
share of the cost of the improvement; and
B. Notice of such intention was duly given, a public hearing was held and it appears to
the Council that such improvements are of benefit to the city and all property to be
assessed will be benefited to the extent of the probable amount of the respective
assessments to be levied for the costs.
THE CITY COUNCIL OF THE CITY OF ASHLAND RESOLVES:
SECTION 1. A local improvement district is created and shall consist of all the tax lots
described in the attached Exhibit A. The district shall be called the Tolman Creek Local
Improvement District, No. ~ .
SECTION 2. The council intends to make local improvements to provide the
improvements described in the above title. Such improvements will be in accordance
with costs estimated to be $638,985.00 of which $266,144.00 will be paid by special
assessments on benefited properties. Costs will be allocated based on $1,162.20 per
equivalent dwelling unit or potential equivalent dwelling unit within the assessment
area.
Lots will be assessed as specified on the attached Exhibit A.
PAGE 1-FORMATION RESOLUTION (\\COMPAQI\DATA\GOWPUB-WRKSW, DMIN\PB COUNCIL\LIDS\LID TOLMAN 2 RES.WPD)
SECTION 3. The City of Ashland is authorized to borrow money and issue and sell
notes for the purpose of providing interim financing for the actual cost of the local
improvement. The notes may be payable from the proceeds of any bonds, issuance of
additional notes or from any other sources from which the bonds are payable. This
borrowing shall be issued according to the terms of ORS 223.235(7).
SECTION 4. The City of Ashland expects to make expenditures from its available funds
to pay for the costs of the improvement project. The City reasonably expects to issue
bonds or other obligations (the "Reimbursement Bonds") and to use the proceeds of the
Reimbursement Bonds to reimburse the City for the expenditures it makes from its
available funds for the improvement project. To permit interest on the Reimbursement
Bonds to be excludable from gross income, the Internal Revenue Code of the United
States requires that the City declare its intent to reimburse itself from Reimbursement
Bond proceeds within 60 days after the expenditures are made. The City expects that
the principal amount of the Reimbursement Bonds will not exceed $702,884.00.
SECTION 5. The assessment imposed upon benefitted properties is characterized as
an assessment for local improvement pursuant to ORS 305.583(4).
SECTION 6. The city recorder is directed to prepare the estimated assessment of the
respective lots within the local improvement district and file it in the lien records of the
city.
SECTION 7. This resolution takes effect upon signing by the Mayor.
This resolution was read by title only in accordance with Ashland Municipal Code
§2.04.090 and duly PASSED and ADOPTED this ,¢~O day of ,,///~//_,4,¢ ,2003.
~nse~, City Recorder
SIGNED and APPROVED this ,~, ~ day of
,2003.
Alan W. DeBoer, Mayor
PAGE 2-FORMATION RESOLUTION (\\COMPAQI\DATA\GOV~PUB-WRKS~ADMIN\PB COUNCIL\LIDS\LID TOLMAN 2 RES.WPD)
CITY OF
ASHLAND
TENTATIVE
TOLMAN CREEK RD
L.tD. BOUNDARY
KEY
- streams
-+- COP. Railroad
_ Structures
D Streets
o Taxlots
- D.weways
o LID. Boundary
o Pre-paid Section
i
_ _.J
SCALE: 1" = 350'
T..XLOT POSITIONS GENER.<TED av
JACKSON COUNlY GIS DEPT. AND
aEAlt NO W"1IIlANTY OF "CCURA.CY,
OllIE. DAn SETS..n TYPICALLY
wnUIN 1M OF AClliAL POSmON.
Exhibit A
\\COMPAQl\DATA\GOV\pub-wrks\admin\PB Council\LIDs\CC Tolman 20May LID Fonnation w Reso.doc
Page 4 of 12
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