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CC Resolution 2000-057 RESOLUTION NO. 2000-57 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LA QUINTA, CALIFORNIA COVENANTING DILIGENT PROSECUTION OF FORECLOSURE OF DELINQUENT ASSESSMENTS WITHIN ASSESSMENT DISTRICT NO. 2000-1 (PHASE VI IMPROVEMENTS) WHEREAS, the City Council of the City of La Quinta has declared its intention to order certain work, acquisitions and improvements to be made and to issue improvement bonds to represent unpaid assessments in Assessment District No. 2000- 1 (Phase VI Improvements), all pursuant to the Municipal Improvement Act of 1 913 and the Improvement Bond Act of 1915, as described in the resolution; and WHEREAS, section 8830(b) of the California Streets and Highways Code authorizes a legislative body issuing bonds under the Improvement Bond Act of 1 915 to covenant, by resolution, to commence and diligently prosecute to completion any foreclosure action regarding delinquent installments of any assessment which secure the bonds and to specify, by resolution, a deadline for commencement of such foreclosures and such other terms and conditions regarding it as the legislative body may determine to be reasonable; and WHEREAS, the Council, by the above resolution, also declared its intention to covenant, pursuant to such provision, for such diligent foreclosure. NOW, THEREFORE, THE CITY COUNCIL FOR THE CITY OF LA QUINTA DOES HEREBY RESOLVE, DETERMINE, AND ORDER AS FOLLOWS: SECTION 1. The City of La Quinta (the "City") covenants with and for the benefit of the owners of the limited obligation bonds issued by the City with respect to Assessment District No. 2000-1 (Phase VI Improvements) (the "District"), that it will order and caused to be commenced by November 1 of each calendar year, and thereafter diligently prosecute, an action in the Superior Court to foreclose the lien of any delinquent assessment or delinquent installment thereof, against: (1) Any parcel in the District, whose delinquent assessments for the immediately preceding fiscal year, exceeds ~2,000.00; and (2) Any parcel in the District, whose aggregate delinquent assessments for the immediately preceding three (3) fiscal years, exceeds 92,000.00; and Resolution No. 2000-57 Foreclosure/Delinquent Assessments Assessment District 2000-1/Phase VI Adopted: June 6, 2000 Page 2 (3) All parcels in the District having delinquent assessments for the immediately preceding fiscal year (regardless of the amount of such delinquency), if the aggregate dollar amount of delinquencies in the District for the immediately preceding fiscal year, exceeds 10% of the total amount of dollars actually levied on all parcels in the District immediately preceding fiscal year. For the purpose of this Section 1, the word "commenced" shall mean the initiation by the City of any reasonable process to collect delinquent assessments in accordance with this Section 1, including, without limitation, causing delinquency notice and demand letters to be sent to the owners of delinquent parcels and/or the recording of a Notice of Intent to Remove Delinquent installments of Special Assessments with the County Recorder's office in accordance with the requirements of Section 8833 of the Streets and Highways Code of the State of California, as the same may be amended, provided that any such parcels shall ultimately be sent to an attorney designated by the City to be foreclosed in accordance with applicable law. PASSED, APPROVED and ADOPTED this 6th day of June, 2000 by the following vote: AYES: Council Members Adolph, Henderson, Perkins, Sniff, Mayor Pe~a NOES: None ABSENT: None ABSTAIN: None J 0 City of La Ouinta,, California Resolution No. 2000-57 Foreclosure/Delinquent Assessments Assessment District 2000-1/Phase VI Adopted: June 6, 2000 Page 3 ATTEST: J K r City of La Quinta, California (City Seal) APPROVED AS TO FORM: DAWN C. HONEYWEEL, City Attorney City of La Quinta, California