After confirmation of the assessment by the legislative body and after the filing of the statement of payments received upon the assessment by the contractor if the assessment was levied under the Improvement Act of 1911, or after 30 days from the date of recording the assessment in the office of the superintendent of streets or district engineer, if the assessment was levied under the Municipal Improvement Act of 1913 or other law, the street superintendent shall make and file with the treasurer a complete list of all unpaid assessments, upon the assessment.
Part 5ISSUANCE OF BONDS
Section § 8620
Once an assessment is confirmed by the governing body, and the contractor has filed the statement of payments received if it's under the Improvement Act of 1911, or 30 days after recording the assessment under other improvement laws like the Municipal Improvement Act of 1913, the street superintendent must give a list of unpaid assessments to the treasurer.
assessment confirmation legislative body statement of payments contractor filing Improvement Act of 1911 Municipal Improvement Act of 1913 street superintendent unpaid assessments list treasurer filing assessment recording public improvement assessments infrastructure funding local government procedures
Section § 8621
This law means that it's the treasurer's job to figure out which assessments haven't been paid and to calculate the total amount that is unpaid.
The treasurer shall determine the assessments which are unpaid and the aggregate amount thereof.
treasurer unpaid assessments aggregate amount assessment determination payment calculation financial responsibility aggregate unpaid sum treasurer duties assessment management financial assessments non-payment determination
Section § 8622
This law section states that the treasurer or legislative body, depending on the act under which an assessment was levied, is responsible for deciding the specific amounts of the bonds issued for municipal improvements. These amounts are meant to be convenient but don't have to be identical to each other.
The treasurer, if the assessment was levied under the Improvement Act of 1911, or the legislative body, if the assessment was levied under the Municipal Improvement Act of 1913 or other law, shall prescribe the denominations of the bonds, which shall be in convenient amounts, not necessarily equal, and shall provide for their issuance.
municipal improvements bond issuance treasurer responsibilities legislative body Improvement Act of 1911 Municipal Improvement Act of 1913 bond denominations assessment levy convenient amounts municipal finance public revenues local government bonds treasurer duties infrastructure funding public project bonds
Section § 8623
This law explains what happens to bonds related to certain improvement assessments. If the assessment was made under the Improvement Act of 1911, the bonds are given directly to the contractor or whoever the contractor assigns, as payment for what's owed. If the assessment was made under the Municipal Improvement Act of 1913 or another law, the bonds must be sold according to a method chosen by the city's legislative body.
The bonds shall be immediately delivered to the contractor or its assigns in satisfaction of the balance due upon the assessment and warrant if the assessment was levied under the Improvement Act of 1911, or, if the assessment was levied under the Municipal Improvement Act of 1913 or other law, the bonds shall be sold in the manner determined by the legislative body.
bonds delivery contractor payment assessment satisfaction Improvement Act of 1911 Municipal Improvement Act of 1913 balance due legislative body bonds sale improvement assessments contractor assigns municipal improvements
Section § 8624
If there's a cost incurred for minor or additional expenses related to a project, that cost should be accounted for in the overall assessment calculation.
The estimated cost of incidental expenses, as defined in the law under which the assessment was levied, shall be included in the assessment.
incidental expenses assessment cost project-related expenses cost estimation levied assessments financial accounting budgeting expense inclusion legal assessment cost calculation project funding expense guidelines financial estimation minor expenses additional project costs
Section § 8625
If there is a legal issue preventing bonds from being issued based on certain unpaid assessments, this law allows bonds linked to other unaffected unpaid assessments to be issued without delay. Essentially, the problematic bonds do not hold up the entire process.
If bonds can not be issued upon the security of any particular unpaid assessments because of a restraining order, injunction or other cause not applicable to other unpaid assessments, the issuance of bonds upon the security of the assessments not affected by such restraining order, injunction or other cause, shall not be delayed, and such bonds may be issued in advance of the issuance of the bonds so affected.
bonds issuance unpaid assessments restraining order impact injunction effects legal cause delay in bonds security of assessments advance issuance affected bonds bond issuance delay financial securities legal impact on bonds unaffected assessments restraining order implications injunction on bonds
Section § 8626
This law explains what to do with the money from selling bonds that were issued to cover specific municipal improvements, like roads or parks. The money should go into a fund related to the improvement project the bonds were issued for. If the bonds sell for more than their face value, the extra money should go into another fund specified by different legal rules for financing the improvements.
If the assessment was levied under the Municipal Improvement Act of 1913 or other law, the proceeds of the sale of the bonds shall be paid into the fund of the proceeding to represent the assessments for which the bonds were issued. If the bonds are sold for an amount in excess of par, the excess shall be paid into the fund specified in Section 10424 or other special fund specified in the law pursuant to which the assessment was levied to finance the acquisitions or improvements.
Municipal Improvement Act of 1913 bond proceeds assessment levied project fund bond sale excess Section 10424 municipal improvements financing improvements fund of the proceeding special fund acquisitions or improvements
