04-1137 Special Assessment - Laserfiche WebLink

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Government Propertv: property owned by the United States of America, the State of Florida, a county, a special district, a municipal corporation, or any of their respective agencies or political subdivisions. Initial Local Improvement Assessment Resolution: the resolution described in Section 3.02 hereof, which shall be the initial proceeding for the imposition of a Local Improvement Assessment. Local Improvement: a capital improvement program or plan for the construction or installation by the City for the special benefit of a neighborhood or other local area. Local Improvement Assessment: a special assessment imposed by the City pursuant to Section 3.01 hereof upon each parcel of property within the Assessment Area. Local Improvement Assessment Roll: the special assessment roll relating to Local Improvement Assessments, approved by a Final Local Improvement Assessment Resolution or an Annual Local Improvement Assessment Resolution pursuant to Section 3.07 hereof. Obliaations: bonds or other evidence of indebtedness including but not limited to, notes, commercial paper, capital leases or any other obligation issued or incurred to finance any portion of the Project Cost of Local Improvements and secured, in whole or in part, by proceeds of the Assessments. Operatina Cost: all or any portion of the expenses that are properly attributable to Related Services under generally accepted accounting principles, including, without limiting the generality of the foregoing, reimbursement to the City for any funds advanced for Related Services, and interest on any interfund or intrafund loan for such purpose. Ordinance: this Local Improvement and Related Service Assessment Ordinance. Pledaed Revenue: as to any series of Obligations, (A) the proceeds of such Obligations, including investment earnings, (S) proceeds of the Assessments pledged to secure the payment of such Obligations, and (C) any other legally available non-ad valorem revenue pledged, at the City Commission's sole option, to secure the payment of such Obligations, as specified by the ordinance and resolution authorizing such Obligations. Proiect Cost: (A) the Capital Cost of a Local Improvement, (S) the Transaction Cost associated with the Obligations which financed the Local Improvement, (C) interest accruing on such Obligations for such period of time as the City deems appropriate, (D) the debt service reserve fund or account, if any, established for the Obligations which financed the Local Improvement, and (E) any other costs or expenses related thereto. Propertv Appraiser: the Seminole County Property Appraiser. Related Service: the operation and maintenance of a Local Improvement. Related Service Assessment: an annual special assessment imposed by the City pursuant to Section 4.01 hereof upon each parcel of property within the Assessment Area. Ordinance No. 04-1137 Page 3 of 23