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1 ORDNANCE NO. 6442 <br /> <br /> 2 AN ORDNANCE OF THE CITY OF RIVERSIDE, CALIFORNIA, LEVYING <br /> SPECIAL TAXES TO BE COLLECTED DURING FISCAL YEAR 1998-99 FOR <br /> 3 THE PAYMENT OF THE PRINCIPAL OF AND INTEREST ON AND <br /> ADMINISTRATIVE EXPENSES WITH RESPECT TO THE BONDS OF <br /> 4 COMMUNITY FACILITIES DISTRICT NO. 86-1 (ORANGECREST) OF THE <br /> CITY OF RIVERSIDE, CALIFORNIA; AND DECLARING THIS ORDINANCE <br /> 5 TO BE EFFECTIVE LiPON ADOPTION. <br /> <br />6 The City Council of the City of Riverside does ordain as follows: <br />7 Section 1: Findings. It is necessary that the City Council of the City of Riverside levy special <br />8 taxes pursuant to Sections 53340 and 53358 of the Government Code for the payment of the <br />9 principal of and interest on the outstanding bonds of Community Facilities District No. 86-1 <br />10 (Orangecrest) of the City of Riverside, California (the "District"), and for the payment of <br />11 administrative expenses incurred in connection with the levy and collection of said special taxes and <br />12 the payment of such principal and interest. Said special taxes are levied without regard to property <br />13 valuations. <br />14 Section 2: l,evy of Special Taxes. Special taxes shall be and are hereby levied for the fiscal <br />15 year 1998-99 on all parcels of real property within the District which are subject to taxation, which <br />16 are identified in Exhibit "A" attached hereto, and in the amount set forth for each such parcel in said <br />17 Exhibit "A". Pursuant to Sections 53340 and 53358, such special taxes for Fund 68-2721 shall be <br />18 collected in the same manner as ordinary ad valorem property taxes are collected, and shall be <br />19 subject to the same penalties and the same procedure, sale, and lien priority in case of delinquency <br />20 as is provided for ad valorem taxes. <br />21 Section 3: Transmittal to County, The City Clerk shall upon adoption of this ordinance cause <br />22 a copy to be transmitted to the County Auditor of the County of Riverside together with a request <br />23 that the special taxes as levied hereby be collected on the tax bills for the parcels identified in <br />24 Exhibit "A" hereto, along with the ordinary ad valorem property taxes to be levied on and collected <br />25 from the owners of said parcels. <br />26 Section 4: Publication and Effective Date. The City Clerk shall certify to the adoption of this <br />27 ordinance and cause publication once in a newspaper of general circulation in accordance with <br /> <br />City Attorney's Office <br />3900 Main Street <br />Riverside, CA 92522 <br />{909) 782-5567 <br /> <br /> <br />