Reso 2007-1115 - Laserfiche WebLink

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Section 2. Estimated Cost of Public Improvements. The City hereby declares its intent to construct sanitary sewer improvements to provide sanitary sewer service to property on Atlantic Isle. Such improvements include, but are not limited to, collection lines, force main, laterals, pump station, associated road restoration and other associated improvements, at an estimated cost of $2,0 I 8,823.40. Section 3. Benefited Area, The City hereby determines that the levy of non-ad valorem special assessments is needed to fund a portion of the cost of providing necessary sanitary sewer improvements that provide special benefit to property on Atlantic Isle. The City intends to impose a special assessment on all lots and lands on Atlantic Isle specially benefited by the sanitary sewer improvements through the provision of sewer lateral connections. The sanitary sewer improvements will provide special benefit to all lots and lands on Atlantic Isle capable of being served by the sanitary sewer improvements. Each lateral sewer connection that will provide or is capable of providing sanitary sewer service to the assessed property shall be the measure of benefit, or Benefit Unit, used to calculate the special assessments for each benefited parcel. The special benefit provided by the sanitary sewer improvements is hereby determined to be equivalent to the number of lateral sewer connections constructed for each lot or parcel. Section 4, Collection of Special Assessments, The City intends to impose non-ad valorem special assessments on all benefited property on Atlantic Isle for assessed costs of $1,009,000, not including interest, which is only a portion of the cost of the sanitary sewer improvements. The assessed costs of $1,009,000, not including interest, shall be collected through special assessments imposed by the City for the sanitary sewer improvements. The special assessments shall be payable in twenty-five (25) annual installments financed at 5% annual interest with the initial payment to be billed after completion of the planned sanitary sewer improvements anticipated in late 2007 or early 2008. The assessment may be billed by the City directly to each property owner or may be included in the annual property tax bill pursuant to the Uniform Assessment Collection Act. Subsequent installments of the special assessment shall be due annually. The special assessment, including interest acerued to date, may be prepaid in full at any time after construction of the improvements. Section 5. Lien Upon Propertv. Upon adoption of the Final Assessment Roll, after an advertised and noticed equalization hearing, the special assessment shall attach to the property included on the Final Assessment Roll and shall constitute, and shall lemain until paid, a lien against the assessed property coequal in rank and dignity with the lien of all state, county, district and municipal taxes and other non-ad valorem assessments. Except as otherwise provided by law, such lien shall be superior in dignity to all other liens, titles and claims, until paid. Section 6. Preparation of Preliminarv Assessment Roll. A preliminary assessment roll for the Atlantic Isle sanitary sewer special assessments shall be prepared for consideration at a hearing on the advisability of making the Atlantic Isle sanitary sewer improvements, the cost of such improvements, the manner of payment of such costs, and the amount to be assessed against each property so improved and benefited by the sanitary sewer improvements. Res Declaring Atlantic Isles Assessments 6-14-07 REVISED 2 (2).DocPage 2 of 3