There is hereby vested in the Council the power to issue vehicle
off-street parking bonds upon an off-street parking assessment district
created under this code to finance the cost of acquiring, constructing,
improving and extending vehicle off-street parking places and facilities
and the costs incidental thereto and to the proceedings and the financing
thereof, including public automobile parking lots, garages and underground
or elevated structures, and all works, equipment, appliances, tools
and facilities useful therein or therefor.
(Prior code § 9-451)
The purpose of this article is to provide a procedure by which
assessment bonds may be issued for the acquisition, construction,
improvement, extension and financing of vehicle off-street parking
places and facilities and to permit the bond redemption fund to receive
the proceeds of pledges of revenues and contributions and to allow
the assessments to reflect credits to properties which provide off-street
parking places and facilities.
(Prior code § 9-452)
As used in this article:
means fees, tolls, rates and rentals.
means reconstruct, replace, extend, repair, better, equip,
develop, embellish or otherwise improve.
means the revenue from street meters remaining after deductions
for the cost of acquiring and installing the meters, the cost of their
maintenance, operation, repair, replacement and servicing, and the
cost of collecting revenues therefrom, without allowance for depreciation
or obsolescence.
means the revenues (gross revenues) of parking places, remaining
after deducting all sums expended therefrom for the annual management,
operation, maintenance and repair thereof, including all incidental
costs, fees and expenses property chargeable thereto, without allowance
for depreciation.
include parking lots, garages, subsurface structures and
buildings for the parking of motor vehicles.
means land and improvements.
means all charges for, and all income and receipts derived
by the City from parking places or arising therefrom, and includes
revenues in all revenue, redemption, sinking and reserve funds and
interest earned thereon.
(Prior code § 9-453)
The City may pledge all or a part of the revenues to be derived
by it from off-street parking facilities of the City then existing,
to be acquired or constructed in the proceedings, or thereafter to
be acquired or constructed by it, for the payment and security of
the principal of and interest on the bonds to be issued pursuant to
this article, the premiums on and costs of calling bonds prior to
their fixed date of maturity, and the costs of administration, maintenance,
operation, improvement, extension and replacement thereof.
(Prior code § 9-454)
The City may pledge, place a charge upon, or otherwise make available, as additional security for the payment of bonds to be issued pursuant to this article, all or a part of any or all street parking meters then owned or controlled or to be acquired or controlled, by it, for the purposes in Section 3.76.2650 of this code.
(Prior code § 9-455)
The resolution of intention shall state the pledges proposed to be made by the City pursuant to Sections 3.76.2650 and 3.76.2660. It shall also state, in general terms sufficient to be understood and applied, the formulae to be used in determining the annual apportionment of benefits in the levy of annual ad valorem assessments upon the taxable real property within the proposed assessment district and the granting of credits to the extent that private off-street parking places and facilities shall have been provided for the year by owners of real property within the district.
(Prior code § 9-456)
In stating the formulae under Section 3.76.2670, the Council may provide for modification of the assessed valuations of properties to be assessed, as follows:
A.
A parcel
of land that is zoned and used for residential purposes at the time
of a levy;
B.
A parcel
of land that is greater than a fixed distance from a particular public
parking facility or a combination of distances from public parking
facilities, at the time of a levy;
C.
Additional
formulae for all parcels to be assessed, based upon the ratio of their
parking deficiencies in conformity with the requirements of the applicable
provisions of Title 16, Development Code of the Stockton Municipal
Code.
(Prior code § 9-457)
No assessment or diagram shall be provided for the engineer's
report. However, it shall contain or be supplemented by a preliminary
annual estimated report for the first bond year in form substantially
as hereinafter provided for in this code, which shall contain a map
or plat showing the parcels to be assessed and an estimated assessment
of each parcel for the first bond year based upon the then use and
location of the property by the application of the formulae described
in the resolution of intention.
(Prior code § 9-460)
Each notice to property owners shall state the estimated amount
of the first annual assessment against the particular parcel covered
by the notice.
(Prior code § 9-459)
At the hearing on the resolution of intention and report, the Council may make changes in the project, the costs, the assessment district any zones and the percentages relating thereto, in the supplemental report, and in the formulae stated in the resolution of intention. In that event, notice shall be given and a further hearing held as provided in Section 3.76.230 of this code.
(Prior code § 9-460)
A.
The
Director of Finance shall annually cause to be prepared a budget for
each bond issue under this article which shall include the following:
1.
The
gross amount required to pay the principal and interest on the bonds
which have accrued or which shall accrue before the proceeds of the
second succeeding assessment levy under this article shall be available
therefor;
2.
The
balance estimated to be available therefor at the end of the fiscal
year, in the bond interest and redemption fund created for the bonds;
3.
The
amount estimated to become available therefor pursuant to a pledge
in the assessment proceedings, from revenues which may be provided
to be collected by the City on vehicle off-street parking places or
facilities in or for the parking assessment district created for the
bonds;
4.
The
amount of revenues to be collected from street parking meters within
or without the parking district, which have been pledged for the servicing
of the bonds;
5.
The
amount of additional contributions, if any, which the City proposes
to make to the bond fund for the year;
6.
The
balance of the amount provided in subsection (A)(1) of this section
less those amounts in subsections (A)(2), (3), (4) and (5);
B.
The
estimated amounts provided under subsections (A)(3), (4), (5) and
(6) shall be provided in the City budget for the fiscal year for which
an annual assessment is to be levied.
(Prior code § 9-461)
The Director of Finance shall annually cause to be prepared,
a report for each bond issue under this Article, which shall, under
appropriate headings, show the amounts to be provided in the annual
budget and by property headed columns, show the information provided
therefor and required by the formulae, and the amount of the total
annual ad valorem assessment for said year, on each parcel of land
to be assessed.
(Prior code § 9-462)
The report shall come on regularly for hearing by the City Council
at its regular meeting held at an appropriate time in July of each
year.
(Prior code § 9-463)
The City Clerk shall cause notice of the hearing on the report
to be given by publication, posting and mailing.
(Prior code § 9-464)
Notices shall not be required to be mailed to persons as to a hearing on subsequent reports, when the report is heard at the time fixed in Section 3.76.2740 of this code.
(Prior code § 9-465)
Affidavits of publication and affidavits or certificates of
posting and mailing notices of hearing shall be made and filed with
the Clerk.
(Prior code § 9-466)
Except as herein otherwise provided, the report shall be certified, noticed, heard and confirmed and the assessments therein collected in the manner provided in Sections 3.76.2460 through 3.76.2610 of this code, with notice modified to conform to this article.
(Prior code § 9-467)
The formulae for the apportioning of benefits may be modified in the manner provided in Sections 3.76.2370 through 3.76.2410.
(Prior code § 9-468)
Funds shall be established and maintained in the manner provided in Sections 3.76.2420 through 3.76.2440.
(Prior code § 9-469)
The other provisions of Articles XV and XVII, not inconsistent
with the provisions of this article, shall apply.
(Prior code § 9-470)
The amount provided in Section 3.76.2720(A)(6) of this code,
including provision for anticipated delinquencies, shall be raised
by annual ad valorem assessments on all taxable real property within
the parking assessment district, in the ratio of their assessed valuation
as modified by zones and other provisions of the formulae, until all
of the bonds and the interest to accrue thereon have been paid in
full.
(Prior code § 9-471)
In recognition of the fact that the addition of Article XIIIA to the State Constitution by the voters of the State of California in June, 1978, established a new system of property taxation in this State, substituting an acquisition value roll in place of the ad valorem roll as the basis for such property taxation, any special assessment levied pursuant to Sections 3.76.2670 and 3.76.2820 of this article or Section 3.76.1860 of Article XV or Section 3.76.2290 of Article XVI or any other provision of this chapter after the fiscal year 1977-78 shall be denominated an acquisition value assessment, rather than an ad valorem assessment, or tax, and shall be otherwise levied and collected as provided in Section 3.76.1870. Except in cases where the intent is clearly to the contrary, whenever the term "tax," "taxes" or any variant thereof is used in this Article XI through XIX, it shall be deemed to mean acquisition value assessments.
(Prior code § 9-472)
A.
If
any court of competent jurisdiction determines that any contract purporting
to have been made, or any proceedings, steps or actions purporting
to have been taken, or any bond or bonds issued, or any levy of assessment
made under this article is or are void, invalid or unenforceable for
any reason, said court shall also order that reassessment proceedings
consistent with such determination be conducted in the manner herein
provided and, if the validity of any outstanding bonds is tainted
by such determination, that new bonds be issued in the place thereof.
The Council may also order reassessment proceedings and, if necessary,
the issuance of new bonds, if it determines the existence of such
voidness, invalidity or unenforceability. The reassessment proceedings
and, if necessary, the issuance of new bonds, shall be conducted and
accomplished in the manner provided in this article, except that the
proceedings shall refer throughout to the reassessment rather than
to the assessment. Any such reassessment together with any other source
of funds identified in the reassessment proceedings, shall constitute
the security for the outstanding bonds or any new bonds issued pursuant
to this section.
B.
Reassessment
proceedings may be conducted pursuant to this section regardless of
whether the acquisition and construction of the local improvement
being financed has commenced, is under construction or is complete.
(Prior code § 9-473)
