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of the assessment when the payment is later to be reimbursed by the United States <br /> government or the state or their respective instrumentalities. <br /> Section 9. The assessments for the entire SATMD will total approximately <br /> $1,600,000 in year one (1). <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 /> Section 11. The SATMD shall include certain lodging businesses lo,gated within <br /> the City. A boundary map is attached hereto and incorporated herein by reference. <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 years in which <br /> the SATMD assessment is levied as long as they are used consistent with the <br /> requirements set forth herein. <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 /> 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 /> Section 15. TSA, pursuant to Streets and Highways Code §36650, shall cause <br /> to be prepared a report for each fiscal year, except the first year, for which assessments <br /> are to be levied and collected to pay the costs of the improvement and activities described <br /> in the report. The first report shall be due after the first year of operation of the SATMD. <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 /> Section 17. The City Clerk, or his or her designee, is directed to take all <br /> necessary actions to complete the renewal of the SATMD and to levy the assessments. <br /> Section 18. This Resolution shall take effect immediately upon its adoption by <br /> the Council. <br /> Resolution No. 2025-032 <br /> Page 4 of 6 <br />