Assessment Board Resources
- Resolution No. 11-5
A Resolution Authorizing Issuance of Improvement Bonds and Related Actions
COCWD Assessment District No. 2008-1
- Jones Hall Law Corporation's Bond Opinion cited in Resolution No. 11-5
- Resolution No. 11-6
A Resolution of the Board of Directors of the COCWD, County of Napa, California, Authorizing and Providing for the Incurrence of Indebtedness
for the Purpose of Providing a Portion of the Cost of Acquiring, Constructing, Enlarging, Improving, and/or Extending
its Water Facilities and Sanitary Sewer Facilities to Serve and Area Lawfully within its Jurisdiction to Serve
- Resolution No. 11-7
A Resolution Amending Resolution No. 11-5
Entitled "A Resolution Authorizing Issuance of Improvement Bonds and Related Actions"
COCWD Assessment District No. 2008-1 [corrects incorrect cited Bond interest rate]
Resolutions prepared by the Circle Oaks County Water District's Bond Counsel
Jones Hall, A Professional Law Corporation
contact information:
Scott R. Ferguson, Esq.
650 California Street, 18th Floor,
San Francisco, CA 94108
sferguson@joneshall.com 415-391-5780 x204 415-391-5784 (fax)
Assessment District Contractors:
- Michaels Pipeline Construction
- Hess Construction
July 29, 2011 COCWD Press Release
COCWD Assessment District Tax Bill Amount Calculated
California Code Sections
cited in Assessment District Press Releases
STREETS AND HIGHWAYS CODE
SECTION 8650-8650.1
8650. (a) Except as provided otherwise by the legislative body
pursuant to Section 8650.1, the bonds shall be issued in series and
an even annual proportion of the aggregate principal sum thereof
shall be payable on the second day of September every year succeeding
the first 12 months after their date, until the whole is paid. The
bonds shall bear interest at a rate not in excess of the maximum rate
permitted by law from the 31st day after recording the assessment if
the assessment was levied under the Improvement Act of 1911, or from
their date if the assessment was levied under the Municipal
Improvement Act of 1913 or other law, on all sums unpaid, until the
whole of the principal sum and interest are paid.
(b) Interest shall be payable semiannually on the second day of
March and September, respectively, of each year. The first payment of
interest shall become due on the interest payment date which is six
months before the maturity of the first series of bonds, but, if any
portion of the interest is funded, the legislative body may specify
that the first payment of interest shall become due on any earlier
interest payment date following the date of the bonds. Interest shall
be payable to the registered holders of the bonds as their names and
addresses appeared on the records of the issuing agency or its
registration agent on the 15th day of the calendar month preceding
the interest payment date.
8650.1. The legislative body, in its discretion, may determine,
either (a) in the resolution of intention describing the improvement
work, or (b) thereafter in any change proceedings taken under and in
accordance with the provisions of the same act under which the
resolution of intention was adopted, that the principal amount of the
bonds maturing or becoming subject to mandatory prior redemption
each year shall be other than an amount equal to an even annual
proportion of the aggregate principal of the bonds, and it may
determine that the amount of principal maturing or becoming subject
to mandatory prior redemption in each year plus the amount of
interest payable in that year will be an aggregate amount that is
substantially equal each year, except for the moneys falling due on
the first maturity or mandatory prior redemption date of the bonds
which shall be adjusted to reflect the amount of interest earned from
the date when the bonds bear interest to the date when the first
interest is payable on the bonds. Notwithstanding Section 8651.5, to
the extent that the determination to issue bonds pursuant to Section
8570 includes term bonds, the legislative body shall provide for
mandatory prior redemption of those bonds, without premium, through
annual sinking fund installments conforming to the requirements of
this section.
Notwithstanding Section 8652, the legislative body may prescribe
the form of the bonds and shall fix the date of the bonds. The
legislative body may divide the principal amount of any issue into
two or more divisions and fix different dates for the payment of
bonds of each division. The bonds of one division may be made payable
at different times than bonds of any other division.
The legislative body, in its discretion, may determine in like
manner to classify assessments into different terms of maturity so
that smaller assessments may be made to mature over a shorter period
of time and, in that event, the bond declaration in the resolution of
intention, or in the change proceedings taken under and in
accordance with the provisions of the same act under which the
resolution of intention was adopted, in the assessment, and in the
notice of recording the assessment may recite that the last
installment of bonds shall mature a maximum rather than an exact
number of years from the second day of September next succeeding 12
months from their date.
STREETS AND HIGHWAYS CODE
SECTION 8682-8682.1
8682. (a) A copy of the order of the legislative body determining
the assessments remaining unpaid and upon the security of which bonds
are issued shall be filed in the office of the auditor. The auditor
shall keep a record in his or her office showing the several
installments of principal and interest on the assessments which are
to be collected in each year during the term of the bonds. The
auditor shall annually enter in his or her assessment roll on which
taxes will next become due, opposite each lot or parcel of land
affected in a space marked "public improvement assessment," or by
other suitable designation, the several installments of the
assessment coming due during the fiscal year covered by the
assessment roll, including in each case the interest due on the total
unpaid assessments.
(b) The auditor shall also add a maximum of 5 percent of the
amount of the installments and of the interest so entered, not to
exceed the city treasurer's estimate of the expenses of collection,
and in any case not to exceed eight dollars ($8) per lot or parcel
per installment, except with the landowner's written consent. The
expenses of collection shall include necessary administrative
expenses of the city incurred in providing the auditor with current
information regarding the ownership or division of the affected lots
or parcels of land to ensure the proper entry by the auditor in his
or her assessment roll of the several installments of the assessment
coming due during the fiscal year covered by the assessment roll and
the timely collection of the installments. The percentages, and the
amount represented by the installments, when collected shall belong
to the city and shall cover the expenses and compensation of the city
treasurer incurred in the collection of the assessments, and of the
interest and penalties added on to the assessments. No other
percentage or amount shall be claimed by the legislative body for the
collections.
(c) In the case of an assessment district created prior to January
1, 1988, the amount of collection costs which may be collected
pursuant to this section may be the amount which could have been
collected pursuant to this section as it read prior to being amended
by Chapter 874 of the Statutes of 1986.
8682.1. (a) In addition to the amounts set forth in Section 8682,
the auditor shall further annually enter in the assessment roll on
which taxes will next become due, opposite each lot or parcel of land
affected, in the manner set forth in Section 8682, each lot's or
parcel's pro rata share of the annual expenses of the city in
connection with the registration of the bonds under the system of
registration authorized by Chapter 1.5 (commencing with Section 5050)
of Division 6 of Title 1 of the Government Code, as determined by
the legislative body. The expenses shall include the amount or
estimated amount necessary to pay the fees and charges coming due
during the fiscal year covered by the assessment roll of corporate or
other authenticating agents, transfer agents, registrars, paying
agents, agents engaged to assist in complying with federal arbitrage
requirements, or other agents of the city. If the city performs any
transfer, registration, authentication, payment, or other function
described in this section, the expenses shall include a pro rata
amount of the salaries of the city employees involved in the
performance of the functions and all other costs incurred by the city
in connection with the functions.
(b) Alternatively, the legislative body may elect to include in
the assessment, and in the amount of the bonds, the estimated
aggregate total of the expenses throughout the term of the bonds and
to pay the annual amounts of the expenses from the fund created. Any
amount remaining in the fund upon the retirement of the bonds shall
be disposed of as provided in Section 8783.
STREETS AND HIGHWAYS CODE
SECTION 10204
10204. The report of the person or board to whom the improvement is
referred by the legislative body shall contain all of the following:
(a) Plans and specifications of the proposed improvement if the
improvement is not already installed. The plans and specifications
need not be detailed and are sufficient if they show or describe the
general nature, location, and extent of the improvements. If the
assessment district is divided into zones, the plans and
specifications shall indicate the class and the type of improvements
to be provided for each zone. The plans or specifications may be
prepared as separate documents, or either or both may be incorporated
in the report as a combined document.
(b) A general description of works or appliances already installed
and any other property necessary or convenient for the operation of
the improvement, if the works, appliances, or property are to be
acquired as part of the improvement.
(c) An estimate of the cost of the improvement and of the cost of
lands, rights-of-way, easements, and incidental expenses in
connection with the improvement, including any cost of registering
bonds. If the legislative body, in the resolution of intention,
ordered that private utility damages be included in the assessment,
the report shall contain an estimate of the private utility damages.
If the legislative body, in the resolution of intention, declared its
intention to levy an assessment for the maintenance, repair, or
improvement of the work, system, or facility, the report shall
contain an estimate of the amount of this assessment for each of the
first five years during which the assessment would be levied.
(d) A diagram showing, as they existed at the time of the passage
of the resolution of intention, all of the following:
(1) The exterior boundaries of the assessment district.
(2) The boundaries of any zones within the district.
(3) The lines and dimensions of each parcel of land within the
district.
Each subdivision, including each separate condominium interest, as
defined in Section 783 of the Civil Code, shall be given a separate
number upon the diagram. The diagram may refer to the county assessor'
s maps for a detailed description of the lines and dimensions of any
parcels, in which case those maps shall govern for all details
concerning the lines and dimensions of the parcels.
(e) A proposed assessment of the total amount of the cost and
expenses of the proposed improvement upon the several subdivisions of
land in the district in proportion to the estimated benefits to be
received by each subdivision, respectively, from the improvement. In
the case of an assessment for installation of planned local drainage
facilities which are financed, in whole or in part, pursuant to
Section 66483 of the Government Code, the assessment levied against
each parcel of subdivided land may be levied on the basis of the
proportionate storm water runoff from each parcel. When any portion
or percentage of the cost and expenses of the improvement is ordered
to be paid out of the treasury of the municipality, pursuant to
Section 10201, the amount of that portion or percentage shall first
be deducted from the total estimated cost and expenses of the
improvement, and the assessment upon property proposed in the report
shall include only the remainder of the estimated cost and expenses.
The assessment shall refer to the subdivisions by their respective
numbers as assigned pursuant to subdivision (d).
(f) A proposed maximum annual assessment upon each of the several
subdivisions of land in the district to pay costs incurred by the
city and not otherwise reimbursed which result from the
administration and collection of assessments or from the
administration or registration of any associated bonds and reserve or
other related funds.
STREETS AND HIGHWAYS CODE
SECTION 10428
10428. From the date of the recordation pursuant to Sections 3114
and 3115, each special assessment levied under this division is a
lien upon the land upon which it is levied. This lien is paramount to
all other liens, except prior assessments and taxation. Unless
sooner discharged, the lien continues for a period of 10 years from
the date of the recordation or, if bonds are issued to represent the
assessment, until the expiration of four years after the due date of
the last installment on the bonds or of the last principal coupon
attached thereto. All persons have constructive notice of this lien
from the date of the recordation.