2016-05-09-minutes-public-works-study-session

Home Browse Search

necessary in order to avoid delaying the hearing. Once the city presents information in the fora of an appraisal opinion, it is then a matter of decision by the city council as to which opinion of special benefit should prevail. The city council has authority to revise or amend the proposed final assessment roll as it sees fit. (RCW 35-44.1 OC) However, if any assessment is raised or if there is a need to include an omitted property not previously on the roll, the property owners are entitled to new notice and a new hearing as if no hearing on the final rcli ever occurred. Those parties originally on the final roll and whose assessments were not raised will have no opportunity to object at a later hearing. (RCW 35.44.120) Downward adjustment to any of thefinal assessments will require additional money from another source to make up for the reduced assessment. The difference could be made up from public funds; or the difference could be made up by reassessing the remaining property owners in the LID, which would require a new hearing and additional costs, including additional interest and notification costs. The entire city council makes the final determination without taking additional testimony. Variations of the assessment roll confirmation hearing process, such as using a hearing examiner or city council committee, should only be done after consulting with legal counsel. The assessment roll is approved by the majority of the city council by ordinance. As with the formation ordinance, the assessment roll ordinance should be prepared by, or reviewed and approved by, bond counsel. Procedures for submittal of the confirmation ordinance to the city council should, if possible, allow for final action on the ordinance to occur at the same meeting as and immediately following the assessment roll hearing. Post Assessment Roll Wearing Actions and Appeals After the final assessment roll is confirmed by ordinance, the roll is transmitted to the city treasurer for collection. On the effective date of the confirmation ordinance, a 10 -day appeal period begins to run. (RCW 35.44.120) During this period, only those property owners who have filed timely written objections to the final roll may appeal to Superior Court. (RCW 35.44.190-270) Upon expiration of the appeal period, the treasurer will publish and mail notice that the assessment roll is filed for collection. The notice states that the property owners have an opportunity to pay all or part of their assessments without interest. This is called a "pre -pay or interest-free" period. If all property owners pay their assessments during the 30 -day interest free period, no LID bond financing would be needed because there would be no unpaid balance. Typically, there is a balance still owing after the pre -pay period. If the final cost includes a financing fee (discount fee), any property owner paying all, or any portion, of the assessment during the pre -pay period should be rebated, deducted or forgiven that portion of the assessmentthat represents the financing fee. The bonds will be sold after the pre -pay period. Since the amount of the financing fee that the city will pay is based on the actual amount of the bond, assessments that are prepaid are not generating any financing fees. The result, then, is a need to treat prepaid assessment differently than amortized assessments. Itis appropriate (but not necessary) to provide this information in the pre -pay notice to the property owners. Lanai and Road Improvement Districts Manual for Washington State Sixth Edition 35