Laserfiche WebLink
<br />acquisition of interests in real property as are necessary to make the improvements. Upon <br /> <br />completion of the Improvements, the final costs therefor will be calculated and the owners of <br /> <br />benefited property shall be notified and the property assessed as provided in E.C. 7.185 to 7.240. <br /> <br />The assessments to be levied for these improvements are hereby characterized for purposes of the <br /> <br />property tax limitation in Section 11 b, Art. XI of the Oregon Constitution as assessments for a local <br /> <br />improvement, not subject to the constitutional limitation of $10 per thousand of real market value. <br /> <br />Notice of the intent to so characterize the assessments was sent to the affected property owners prior <br /> <br />to the adoption of this resolution. <br /> <br />Section 4. Two of the properties proposed for inclusion in the local improvement district <br /> <br />are located outside the boundaries of the City. Under provisions of state law the concurrence of the <br /> <br />Lane County Board of Commissioners is required for inclusion of the properties in the local <br /> <br />improvement district. On May 1,2001, Lane County has given concurrence that these two properties <br /> <br />be included in the local improvement district. <br /> <br />Section 5. The City Council hereby declares that the construction of the Improvements, as <br /> <br />well as acquisition of rights-of-way or easements necessary for the construction, is for a public <br /> <br />purpose, is necessary for the public welfare, and is authorized under the laws of the State of Oregon <br /> <br />and Charter and ordinances of the City of Eugene, and is directed by this Resolution. <br /> <br />Section 6. Improvement warrants, short-term promissory notes and other evidence of <br /> <br />indebtedness authorized by Chapter 902, 1991 Oregon Session Laws, issued to finance the <br /> <br />construction of the Improvements shall be indebtedness for them. When improvement warrants are <br /> <br />issued they may be general obligation warrants or limited general obligation warrants or other similar <br /> <br />instrument. Such indebtedness shall bear interest at a rate set by Council resolution authorizing the <br /> <br />Resolution - 2 <br />