Everyone: Yuba City has periodically established 1913 Act assessment districts in order to finance infrastructure improvements in older neighborhoods (e.g., water and sewer in areas that previously used wells and septic systems). The districts have been as small as $8K, and average around $70K. Given their size, we finance the improvements: under the 1915 Act, the City issues a bond to itself in order to secure the obligation of unpaid assessments over a fifteen year period. The process involves the adoption of numerous resolutions, he development of a purchase agreement that the City ultimately executes with itself, and the added cost of legal counsel who is up to speed on assessment district law. I am in search for a simpler means to reach the desired ends. Got one? Steve Kroeger Director of Administrative Services City of Yuba City ph: 530.822.4620 fax: 530.822.4694
