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CC Resolution 1998-128d_W% RESOLUTION NO.98-128 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LA QUINTA COVENANTING DILIGENT PROSECUTION OF FORECLOSURE OF DELINQUENT ASSESSMENTS WITHIN ASSESSMENT DISTRICT NO.97-i LA QUINTA NORTE) WHEREAS, the City Council of the City of La Quinta by Resolution No.98-61 adopted June 2, 1 998, 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.97-i La Quinta Norte), all pursuant to the Municipal Improvement Act of 1913 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 91 5 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 OF 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.97-i La Quinta Norte 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 $2,000.00; and BIB] 03-12-1999-U01 09:35:53AM-U01 ADMIN-U01 CCRES-U02 98-U02 128-U02 d_W% Resolution No. 98-12S Adopted: 1113195 Pege 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 1 0% 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 3rd day of November, 1 998 by the following vote: AYES: Council Members Adolph, Henderson, Perkins, Sniff, Mayor Pena NOES: None ABSENT: None ABSTAIN: None J0H?PE??r? City of La Quinta, California ATTEST: PuNfD??AQ?ta?ff,oCntaiyC L. JU 0 lerk City BIB] 03-12-1999-U01 09:35:53AM-U01 ADMIN-U01 CCRES-U02 98-U02 128-U02 d_W% Resolution No.98-128 Adopted: 11/3/98 Page 3 APPROVED AS TO FORM: DAWN C. HONEYWELL, City Attorney City of La Quinta, California BIB] 03-12-1999-U01 09:35:53AM-U01 ADMIN-U01 CCRES-U02 98-U02 128-U02 d_W%Resoluton No. 98-12S Adopted: 1113198 Page 4 STATE OF CALIFORNIA COUNTY OF RIVERSIDE CITY OF LA QUINTA I, SAUNDRA L. JUHOLA, City Clerk of the City of La Quinta, California, do hereby certify that the foregoing Resolution No. 98-1 28 is a full, true and correct copy as adopted by the City Council on November 3, 1 998. Dated: November 5, 1998 A AUNDRAL. JUHOLA, City Clerk CIty of La Quinta, California BIB] 03-12-1999-U01 09:35:53AM-U01 ADMIN-U01 CCRES-U02 98-U02 128-U02