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<br />Resolution No. 2025-XXX <br />Page 4 of 6 <br /> <br /> <br />Section 9. The assessments for the entire SATMD will total approximately <br />$1,600,000 in year one (1). <br /> <br />Section 10. Bonds shall not be issued to fund the SATMD. TSA shall not issue <br />debt of any kind; and shall only fund expenses with recurring assessment revenue <br />collected or the reserve balance. <br /> <br />Section 11. The SATMD shall include certain lodging businesses located within <br />the City. A boundary map is attached hereto and incorporated herein by reference. <br /> <br />Section 12. The assessments shall be used for the purposes set forth above and <br />any funds remaining at the end of any year may be used in subsequent year s in which <br />the SATMD assessment is levied as long as they are used consistent with the <br />requirements set forth herein. <br /> <br />Section 13. The assessments to fund the activities and improvements for the <br />SATMD will be collected by the the City on a monthly basis, and in accordance with <br />Streets and Highways Code §36631. <br /> <br />Section 14. The Council, through adoption of this Resolution and the Plan, has <br />the right pursuant to Streets and Highways Code §36651, to identify the body that shall <br />implement the proposed program, which shall be the Owners’ Association of the SATMD <br />as defined in Streets and Highways Code §36612. The Council has determined that TSA <br />shall be the SATMD Owners’ Association. <br /> <br />Section 15. TSA, pursuant to Streets and Highways Code §36650, shall cause to <br />be prepared a report for each fiscal year, except the first year, for which assessments are <br />to be levied and collected to pay the costs of the improvement and activities described in <br />the report. The first report shall be due after the first year of operation of the SATMD. <br /> <br />Section 16. The SATMD renewed pursuant to this Resolution will be subject to <br />any amendments to the Property and Business Improvement District Law of 1994 <br />(California Streets and Highways Code §36600 et. seq.). <br /> <br />Section 17. The City Clerk, or his or her designee, is directed to take all necessary <br />actions to complete the renewal of the SATMD and to levy the assessments. <br /> <br />Section 18. This Resolution shall take effect immediately upon its adoption by the <br />Council. <br /> <br />ADOPTED this ______ day of ______________, 2025. <br /> <br /> _______________________ <br /> Valerie Amezcua <br /> Mayor