04-1511 Initial Assessment Resolution - Summerset North Wall

Home Browse Search

RESOLUTION NO. 04-1511 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF CASSELBERRY, FLORIDA, RELATING TO THE CONSTRUCTION OF CERTAIN LOCAL IMPROVEMENTS; DESCRIBING THE PROPERTY TO BE LOCATED WITHIN THE PROPOSED SUMMERSET NORTH ASSESSMENT AREA; DETERMINING THE ESTIMATED CAPITAL COST OF THE SUMMERSET NORTH SUBDIVISION WALL; DETERMINING THAT CERTAIN REAL PROPERTY WILL BE SPECIALLY BENEFITTED BY THE SUMMERSET NORTH SUBDIVISION WALL; ESTABLISHING THE METHOD OF ASSESSING THE CAPITAL COSTS OF THE SUMMERSET NORTH SUBDIVISION WALL AGAINST THE REAL PROPERTY THAT WILL BE SPECIALLY BENEFITTED THEREBY; DIRECTING THE CITY MANAGER TO PREPARE A TENTATIVE IMPROVEMENT ASSESSMENT ROLL BASED UPON THE METHODOLOGY SET FORTH HEREIN; ESTABLISHING A PUBLIC HEARING TO CONSIDER IMPOSITION OF THE PROPOSED IMPROVEMENT AND THE METHOD OF THEIR COLLECTION; DIRECTING THE PROVISIONS OF NOTICE IN CONNECTION THEREWITH; AND PROVIDING AN EFFECTIVE DATE. BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF CASSELBERRY, FLORIDA, AS FOLLOWS: ARTICLE I DEFINITIONS AND CONSTRUCTION SECTION 1.01. DEFINITIONS. As used in this Resolution, the following terms shall have the following meanings, unless the context hereof otherwise requires. "Abutting Lot: a Platted Lot within the Summerset North Assessment Area that abuts the Summerset North Subdivision Wall. "Adjusted Prepayment Amount": (A) the amount required to prepay the Improvement Assessment for each Tax Parcel located in the Summerset North Assessment Area (1) following issuance of the Original Obligations, as computed pursuant to Section 4.03(B) hereof and revised annually pursuant to Section 4.04(G) hereof, and (2) following issuance of any Refunding Obligations, as computed pursuant to Section 4.03(C) hereof and revised annually pursuant to Section 4.04(G) hereof; and (B) the comparable Resolution No. 04-1511 Page 3 of 23