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1996-021-Intention To Create And Annex The Santa Rosa Heights Area Into Landscaping & Lighting District No. 1RESOLUTION NO. 1996 -21 RESOLUTION OF INTENTION TO CREATE AND ANNEX THE SANTA ROSA HEIGHTS AREA INTO LANDSCAPING & LIGHTING DISTRICT NO. 1, DESIGNATE IT AS SANTA ROSA HEIGHTS BENEFIT ZONE, AND ESTABLISH A POLICY ON CAPITAL REPLACEMENT AND CREATE A RESERVE ACCOUNT FOR PREEXISTING FUNDS IN OPEN SPACE MAINTENANCE DISTRICT NO. 2 WHEREAS, property owners within the Town of Los Gatos Open Space Maintenance District #2 have asked the Town to convert that District into a Benefit Zone as shown on Exhibit A hereto and annex it to the Town's Landscaping & Lighting District #1, and WHEREAS, on February 20, 1996, the Town Council has received the Engineer's Report recommending that the Town proceed with this request and has adopted a resolution initiating the process, and these documents are on file with the Town Clerk describing the boundaries of the benefit zone and proposed assessments, and WHEREAS, this conversion would appear to result in an equitable apportionment of costs of maintaining the open space area as shown on Exhibit B hereto, and WHEREAS, there is a fund balance remaining in the Open Space Maintenance District #2 account and this fund balance should be devoted to providing maintenance and a capital reserve to the open space area for which it was assessed and deposited, and WHEREAS, while the establishment of a capital replacement fund within the Benefit Zone will mitigate some future assessment, the members understand that should capital replacement of the Benefit Zone assets, whether by catastrophe, failure, or otherwise, be necessary or desired, the property owners shall be responsible for the costs as part of the following year's assessments which is the normal procedure for Landscaping & Lighting Districts, and that the Town is not and may not be in a position to advance those replacement costs. WHEREAS, the property owners recommend that the equitable apportionment of future assessments in the new Benefit Zone should be based on a uniform and equal assessment on each parcel because each of the parcels enjoys an equivalent benefit from the open space area as shown on Exhibit B, and WHEREAS, the new Benefit Zone should be assessed only for the maintenance and upkeep of the open space area as shown on Exhibit B, and any enlargement in the purposes of this benefit zone should only occur after a resolution of intention has been adopted by the Council, a public hearing held, the increase subjected to majority protest of the property owners, and a determination by the Council then made pursuant to the procedures of the Landscaping & Lighting District Act of 1972, NOW, THEREFORE, IT IS RESOLVED AS FOLLOWS: A. The following times and places are fixed for public hearing at which time all interested persons may be heard regarding the formation of the Santa Rosa Heights Benefit Zone as shown on Exhibit C hereto of the Town Landscaping & Lighting District #1: A public meeting pursuant to Government Code Section § 54594.6 at 7:30 p.m. on March 18, 1996, in the Town Council Chambers, Town Hall, 110 E. Main Street, Los Gatos, CA. ii. A public hearing pursuant to Streets & Highways Code § 22590 at 7:30 p.m. on April 15, 1996, in the Town Council Chambers, Town Hall, 110 E. Main Street, Los Gatos, CA. Written protests may be submitted until the close of the public hearing on March 18, 1996. B. The Clerk shall publish this Resolution of Intention in the Los Gatos Weekly Times pursuant to Government Code § 6061 as required by Streets & Highways Code § 22552. C. The Clerk shall also mail a notice of the public meeting and public hearing in accordance with Government Code § 54954.6(c) to the property owners within the proposed benefit zone. PASSED AND ADOPTED at a regular meeting of the Town Council of the Town of Los Gatos, California, held on the 20th day of February, 1996 by the following vote. COUNCIL MEMBERS: AYES: Joanne Benjamin, Steven Blanton, Linda Lubeck, Patrick O'Laughlin, Mayor Randy Attaway NAYS: None 2 Town Limits Not Includei Assessment Exhibit A OPEN SPACE DISTRICT NO. 2. Exhibit B Open Space Areas T® Be Maintained