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1 ORDINANCE NO. 6443 2 AN ORDINANCE OF THE CITY OF RIVERSIDE, CALIFORNIA, LEVYING SPECIAL TAXES TO BE COLLECTED DURING FISCAL YEAR 1998-99 FOR 3 THE PAYMENT OF THE PRINCIPAL OF AND INTEREST ON AND ADMINISTRATIVE EXPENSES WITH RESPECT TO THE BONDS OF 4 COMMUNITY FACILITIES DISTRICT NO. 86-1 IMPROVEMENT AREA NO. 1 (MISSION GROVE AREA) OF THE CITY OF RIVERSIDE, CALIFORNIA; AND 5 DECLARING THIS ORDINANCE TO BE EFFECTIVE UPON ADOPTION. 6 The City Council of the City of Riverside does ordain as follows: 7 Section 1: Findings. It is necessary that the City Council of the City of Riverside levy special 8 taxes pursuant to Sections 53340 and 53358 of the Government Code for the payment of the 9 principal of and interest on the outstanding bonds of Community Facilities District No. 86-1 10 Improvement Area No. 1 (Mission Grove Area) of the City of Riverside, California (the "District"), 11 and for the payment of administrative expenses incurred in connection with the levy and collection 12 of said special taxes and the payment of such principal and interest. Said special taxes are levied 13 without regard to property valuation. 14 Section 2: l,evy of Special Taxes. Special taxes shall be and are hereby levied for the fiscal 15 year 1998-99 on all parcels of real property within the District which are subject to taxation, which 16 are identified in Exhibit "A" attached hereto, and in the amount set forth for each such parcel in said 17 Exhibit "A" . Pursuant to Sections 53340 and 53358, such special taxes for Fund 68-2722 shall be 18 collected in the same manner as ordinary ad valorem property taxes are collected, and shall be 19 subject to the same penalties and the same procedure, sale, and lien priority in case of delinquency 20 as is provided for ad valorem taxes. 21 Section 3: Transmittal to County. The City Clerk shall upon adoption of this ordinance cause 22 a copy to be transmitted to the County Auditor of the County of Riverside together with a request 23 that the special taxes as levied hereby be collected on the tax bills for the parcels identified in 24 Exhibit "A" hereto, along with the ordinary ad valorera property taxes to be levied on and collected 25 from the owners of said parcels. 26 Section 4: Publication and Effective Date. The City Clerk shall certify to the adoption of this 27 ordinance and cause publication once in a newspaper of general circulation in accordance with City Attorney's Office 3900 Main Street Riverside, CA 92522 (909) 782-5567