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ORDINANCE No. ~9368~ <br />AN ORDINANCE ADJUSTING 1~TS AND oAii o~'ERPARK <br />SPECIAL BENEFIT ASSESSMENTS AND DECLARING AN <br />EMERGENCY. <br />The City Council of the City of Eugene finds that: <br />1. qn July 11, 1984 the City Council adopted Resolution <br />No. 3568 directing the extinguishment and adjustment of the 10th <br />and oak Cverpark ~ 4verpark } special benefit assessments ~ Assessments } <br />in a manner that will insure that the net assessment against all <br />affected properties will be just and reasonable. The Resolution <br />further directed the staff to proceed in the manner required for <br />levying assessments for off-street parking facilities. <br />2. Adequate provision has been made for the retirement of <br />all outstanding unpaid 10th and Oak gverpark Bancroft Improvement <br />Bonds issued by authority of grdinance No. 15635 approved April <br />29, 1969 and Ordinance No. 17481 approved May 21, 1974, <br />3. As of September 30, 1985, there exists within the loth <br />and qak gverpark Fund ~No. 521 ~ , $652, 869.38 available for adjustment <br />of the original assessments, This balance will remain in Fund -~-~ <br />~Na. 521} following .application of all rebates due property <br />owners and payment of the Fund's ~No. 521} obligations to the <br />Downtown Development District Fund ~No. 113} and of other lawful <br />expenses charged to the Fund ~No. 521} This balance consists of <br />investment income on assessment payments and of assessment receiv-~ <br />ables. The disposition of this balance is within the City Council's <br />discretion, which~discretian it is exercising by enacting this <br />grdinance. <br />1 -~ grdinance <br />