CITY OF HOMER

City Clerk

HOMER, ALASKA

RESOLUTION 03-64

A RESOLUTION OF THE HOMER CITY COUNCIL CONFIRMING THE ASSESSMENT ROLL, ESTABLISHING DATES FOR PAYMENT OF SPECIAL ASSESSMENTS, AND ESTABLISHING DELINQUENCY, PENALTY AND INTEREST PROVISIONS FOR THE WEST LAKESHORE WATER AND SEWER ASSESSMENT DISTRICT.

WHEREAS, In compliance with Chapter 17, Improvement District, of the Homer City Code, the City Council of the City of Homer created a West Lakeshore Water and Sewer improvement district on August 23, 1999, via Resolution 99-69, at the 25% property owner share of assessments; and

WHEREAS, A public hearing was held on September 27, 1999 to hear objections to the formation of such district; and

WHEREAS, Council adopted Resolution 01-21 to reassess the West Lakeshore Water and Sewer Improvement District at a 50% property owner share of assessments; and

WHEREAS, A public hearing was held on May 29, 2001 to hear objections to the formation of such district at the 50% property owner share of assessments; and

WHEREAS, Resolution 01-55 was adopted by Council on August 13, 2001 to form the West Lakeshore Water and Sewer Improvement/Assessment District and authorizing the City Manager to proceed with the preparation and construction of said improvement district; and

WHEREAS, The West Lakeshore Water and Sewer Improvement Project was completed and accepted for City Maintenance, forwarded for final process and public hearing date set March 24, 2003 via Resolution 03-49(S); and

WHEREAS, An assessment roll has been prepared and a hearing held on April 28, 2003 to hear objections for the purpose of making corrections to the final assessment roll, all corrections found necessary have been made; and

WHEREAS, the assessment roll as presented by the City Clerk and reviewed and corrected where necessary and attached hereto as Attachment A, is hereby confirmed as the official assessment roll for the West Lakeshore Water and Sewer Assessment District and the Mayor and Clerk shall be directed to sign same.

Page Two

Resolution 03-64

City of Homer

NOW, THEREFORE, BE IT RESOLVED THAT ON OR BEFORE 5:00 p.m. September 1 , 2003, all assessments in the West Lakeshore Water and Sewer Assessment District shall become due and payable in full. All assessments not paid in full by this date shall be considered delinquent and in default and shall have added a penalty of ten percent (10%) which penalty and principal amount of the assessment shall both draw interest at a rate of two and one half percent (2.5%) per annum until paid. Should default occur, the City of Homer will institute a civil action for a foreclosure of the assessment lien. Foreclosure shall be against all property on which assessments are in default. All costs including collection and legal fees resulting from such action, shall be added and incorporated into the assessed amount due plus interest and penalties and shall be reimbursed from the proceeds of foreclosure sale of the assessed real property; and

BE IT FURTHER RESOLVED that an optional twenty (20) year payment plan is offered whereby the assessment may be paid in twenty (20) equal yearly installments plus interest of two and one half percent (2.5%) on the unpaid balance of the assessment. The first such installment shall be due and payable without interest on or before 5:00 p.m. September 1, 2003 and each installment thereafter shall be due on or before September, of each year, plus interest on the unpaid balance of the assessment. If any annual installment payment is not received when due, the entire outstanding principal amount of the assessment shall be in default and shall be immediately due and payable. The entire outstanding assessment principal (including the annual installment) shall have added a penalty of ten percent (10%) on the outstanding principal. The principal and penalty shall draw interest at the rate of fifteen percent (15%) per annum until paid. Should default occur, the City will institute civil action for foreclosure of the assessment lien. Foreclosure shall be against all property on which assessments are in default. All costs including collection and legal fees resulting from such action shall be added and incorporated into the assessed amount due plus interest and penalties, and shall be reimbursed from the proceeds of foreclosure sale of the assessed real property.

PASSED and APPROVED by the City Council of the City of Homer, Alaska this 12th day of May, 2003.

CITY OF HOMER

_________________________

JACK CUSHIHG, MAYOR

ATTEST:

_______________________________

MARY L. CALHOUN, CITY CLERK

Fiscal Note: 50% of $499,513.34 is paid by HAWSP and 50% by property owners assessments. Each parcel is assessed $13,145.08.