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1996-028-Annexing Vasona Heights Open Space Area Into Landscaping & Lighting DistrictRESOLUTION NO. 1996 -28 RESOLUTION OF THE TOWN OF LOS GATOS ANNEXING VASONA HEIGHTS OPEN SPACE AREA INTO LANDSCAPING & LIGHTING DISTRICT #1, DESIGNATING IT AS VASONA HEIGHTS BENEFIT ZONE, AND ESTABLISHING CAPITAL RESERVE AND CREDIT FUND FOR PREEXISTING FUNDS IN OPEN SPACE MAINTENANCE DISTRICT 93 WHEREAS, property owners within the Town of Los Gatos Open Space Maintenance District #3 (Vasona Heights) have asked the Town to convert that District into a Benefit Zone as shown on Exhibit B hereto and annex it to the Town's Landscaping & Lighting District #1, and WHEREAS, this conversion would result in a more equitable apportionment of costs of maintaining the open space shown on Exhibit B hereto, and WHEREAS, pursuant to Streets & Highways Code § 22608, the property owners within the area to be annexed have requested this annexation, so long as the conditions and procedures contained in the resolution are adopted by Council, and WHEREAS, there is a fund balance remaining in the open Space Maintenance District #3 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, and WHEREAS, the property owners and the Town find that the equitable apportionment of future assessments in the new Benefit Zone should probably 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, repair, and upkeep of the open space area as shown on Exhibit B and any enlargement in the area 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 Council then made pursuant to the procedures of the Landscaping & Lighting District Act of 1972. NOW, THEREFORE, IT IS RESOLVED AS FOLLOWS: A. The Vasona Heights Benefit Zone as shown on Exhibit B hereto is hereby confirmed, established and annexed to Landscaping & Lighting District #1, effective March 18, 1996. B. The purpose of the Vasona Heights Benefit Zone shall be the maintenance and upkeep of the open space area as shown on Exhibit B. This purpose shall not be enlarged without providing notice to the property owners in the Benefit Zone, adoption of a resolution of intention, a public hearing by the Council, subjection to majority protest by the property owners in the Benefit Zone, and adoption of a resolution of amendment to the purpose by the Council. C. The assessments upon the property owners in the Benefit Zone shall be equal amount on each parcel in the Benefit Zone. D. The funds on deposit in the Open Space Maintenance District #3, which is being dissolved concurrently with the annexation of the Vasona Heights Benefit Zone, shall set aside for use in the maintenance and upkeep of the open space as shown on Exhibit B here to as follows: 1. One -half of the unappropriated balance shall be made a capital reserve for use in case of substantial damage to the open space occurs or replacement of fixtures or planting materials is required in future years. 2. The other half of the unappropriated balance shall be paid out for such maintenance as a credit against any assessments levied against the property owners of the successor Benefit Zone of Landscaping & Lighting District #1 at a rate per fiscal year so that the assessments against individual property owners is no more than $395 per year until the 4 balance is expended. None of these funds shall be used or transferred for any other purpose. The funds in the account shall accrue interest as other Town accounts, and this interest shall be credited to the account. E. The Town Clerk is directed to file a certified copy of this resolution with the County of Santa Clara Auditor no later than August 1, 1996. PASSED AND ADOPTED at a regular meeting of the Town Council of the Town of Los Gatos, California, held on the 18th day of March, 1996 by the following vote: COUNCIL MEMBERS: AYES: Joanne Benjamin, Steven Blanton, Linda Lubeck, Patrick O'Laughlin Mayor Randy Attaway NAYES: None ABSENT: None ATTEST: CLERK OF THE TOWN OF LOS GATOS LOS GATOS, CALIFORNIA 3 Exhibit B Open Space Areas To Be Maintained No°: A P9�RT aC �vsEFrr �.ic^ 91 2 Q) W ° 28 c. . PA ter oc' ad 61ossom �14 o 'J_aB 5i9_�n.a° 10 15 g 16'—% 453 539_1]_ °U 54 _ $ 8 17 "" N 7 '139_ 18 'J w> Not to Scala V 19 we 3 ? '3y_r 1 GJ, 519 4 20 5}ei Y 6 53 ,Yh 10 �e 23 Assessment No. —XX LANDSCAPING AND LIGHTING ASSESSMENT DISTRICT N0. 1 Vasona Heights Benefit Zone B.DWG Rev.: 11/28/95 by T.D.