Title
a. Set a date for a public hearing on June 18, 2013, at 1:30 P.M., to consider adopting Zone 2C Fiscal Year 2013-14 assessment charges for the Salinas Valley Water Project; and
b. Direct the Clerk of the Board to public a hearing notice in the CALIFORNIAN and the KING CITY RUSTLER at least ten days prior to the date set for the hearing.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
a. Set a date for a public hearing on June 18, 2013, at 1:30 P.M., to consider adopting Zone 2C Fiscal Year 2013-14 assessment charges for the Salinas Valley Water Project; and,
b. Direct the Clerk of the Board to public a hearing notice in the CALIFORNIAN and the KING CITY RUSTLER at least ten days prior to the date set for the hearing.
SUMMARY/DISCUSSION:
This Board action sets a date for a public hearing for Fiscal Year (FY) 2013-14 Zone 2C assessments charges on June 18, 2013, at 1:30 P.M.
On April 8, 2003, the electorate of the Agency's Zone 2C approved the levying of Zone 2C assessments for the Salinas Valley Water Project (SVWP) in accordance with Ordinance 04203 adopted by the Board of Supervisors on July 22, 2003. The ordinance allows for the increase in operations and maintenance and administration assessments by the rise of the CPI.
In the years following the first full fiscal year in which the SVWP Assessment is collected, the operation and maintenance component of the SVWP Assessment is subject to increase based on the San Francisco, Oakland, San Jose Urban Consumers Price Index ("CPI") for the previous year as measured from February to February, or the nearest date for which figures are available. All increases pursuant to this section will be calculated from the base year of 2003. The base year February 2003 CPI is 197.7
Annual assessments of approximately $1.11 million will pay for the capital cost until the debt is retired. Annual assessments of $2.92 million will pay for the operation and maintenance and adminis...
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