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1994-034-Intention To Adopt An Ordinance Dissolving Open Space Maintenance District No. 1RESOLUTION 1994 -34 RESOLUTION OF THE TOWN OF LOS GATOS OF INTENTION TO ADOPT AN ORDINANCE DISSOLVING OPEN SPACE MAINTENANCE DISTRICT NO. #1 WHEREAS, property owners within Town of Los Gatos Open Space Maintenance District #1 as shown on Exhibit A hereto have asked the Town to convert that District into a benefit zone annexed to the Town's Landscaping & Lighting District #1, and WHEREAS, this conversion will result in an equitable apportionment of costs of maintaining the open space as shown on Exhibit B hereto, and WHEREAS, it appears to be in the public interest to dissolve Open Space Maintenance District #1 on the condition that a Benefit Zone for the continued maintenance under the Landscaping & Lighting District Act of 1972 be established, and WHEREAS, the Town Council must first hold a public hearing on the dissolution and then consider adoption of an ordinance of dissolution, NOW, THEREFORE, IT IS HEREBY RESOLVED: 1. A public hearing shall be held by the Town Council at 7:30 p.m., or as soon thereafter as the matter may be heard, on May 2, 1994 at Town Hall, 110 East Main Street, Los Gatos, CA, to consider adoption of an ordinance dissolving Open Space Maintenance District #1 as generally provided in Exhibit C hereto. 2. The Town Clerk is hereby directed to provide and publish notice pursuant to Government Code § 50626 of this public hearing and this resolution of intention. PASSED AND ADOPTED at a regular meeting of the Town Council of the Town of Los Gatos, California, held on the 22nd day of February, 1994 by the following vote. COUNCIL MEMBERS: AYES: Joanne Benjamin, Steven Blanton, Linda Lubeck, Patrick O'Laughlin Mayor Randy Attaway NAYS: None ABSENT: None ABSTAIN: None SIGNED: MAYOR THE TOWN OS GATOS LOS GATOS, CALIFOR A ATTEST: CLERK OF THE TOWN OF L GATOS LOS GATOS, CALIFORNIA PP'MOOS:A: \CNCLRPTS \OSD ISDIS. R# 1 2 L39of,sorr HjH 1 L )� -_ 523, -28 013474 C . 523 -07 -07 523 -it -27 523 -11 -30 il 523 -07 D \ V � \� II-lS -9 an� I II 23 5 23--216 -to UI 523 -0�7 G 1 25 t23 -07 523 -07 -20 i 1 523-07 -2i ^- 52J h � � 00 2 i EZhibit "A" cI b 't0 5cG l c C3lossom Hill Load HILL/3f?OOK �O OPEN- SPAC Exhibit "B 1) A k' -' Not to Scalc ORDINANCE ORDINANCE OF THE TOWN OF LOS GATOS DISSOLVING TOWN OF LOS GATOS OPEN SPACE MAINTENANCE DISTRICT #1 ON CONDITION THAT A LANDSCAPING & LIGHTING DISTRICT BENEFIT ZONE BE ESTABLISHED AND THAT CERTAIN USES BE MADE WITH THE FUNDS REMAINING IN THE OPEN SPACE MAINTENANCE DISTRICT #1 ACCOUNT THE TOWN COUNCIL OF THE TOWN OF LOS GATOS DOES ORDAIN AS FOLLOWS: SECTION I The Council finds and determines that the property owners within Town of Los Gatos Open Space Maintenance District #1 as shown on Exhibit A hereto wish to convert the District into a Landscaping & Lighting District Benefit Zone in order to ensure that the open space, as shown on Exhibit B hereto and for which Open Space District #1 was formed, is maintained and the costs of the maintenance equitably apportioned among the property owners. In addition, the property owners wish to ensure that the funds that were raised by Open Space Maintenance District #I are set aside for use in paying for a portion of the costs of maintaining and caring for the open space area until the funds are exhausted. SECTION II Open Space Maintenance District No. #1 is dissolved. SECTION III The unappropriated balance of funds remaining in the account of Open Space Maintenance District # 1 are hereby set aside for use in the maintenance and upkeep of the open space as shown on Exhibit B hereto. These funds 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 $50 per year until the 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. ATTACHMENT 4 SECTION IV This ordinance shall become effective only upon the effective date of establishment of the benefit zone of the Landscaping & Lighting District #1 as shown on Exhibit C to this ordinance. Upon this ordinance becoming effective, the Town Clerk shall file a certified copy of this ordinance to the County Recorder and the County Tax Assessor. SECTION V This ordinance was introduced at a regular meeting of the Town Council of the Town of Los Gatos on , 1994 and adopted by the following vote as an ordinance of the Town of Los Gatos at a regular meeting of the Town Council of the Town of Los Gatos on , 1994. Ordinance shall be effective as stated in Section IV above, but not earlier than 30 days after adoption of this ordinance. COUNCIL MEMBERS: AYES: NAYS: ABSENT: ABSTAIN: SIGNED: ATTEST: MAYOR OF THE TOWN OF LOS GATOS LOS GATOS, CALIFORNIA CLERK OF THE TOWN OF LOS GATOS LOS GATOS, CALIFORNIA PPMOOS:A: \CNCLRPTS \OSDISD IS.O# I 2