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Council approves resolution reallocating 2025 special-assessment installment to future years
Summary
Council approved a resolution aligning the annual installment for the special assessment year 2025 to the debt‑service curve; the annual revenue requirement for 2025 is zero because interest was capitalized, so the installment will be reallocated to future years.
Council approved a resolution to amend the special assessment roll for assessment year 2025 after a brief explanation from staff.
Julian (staff) told the council the action aligns the annual installment to the debt service curve for the subdivision assessment and that the annual revenue requirement for assessment year 2025 is zero because interest was capitalized. As a result, the 2025 installment was reallocated into future years for collection and there is no revenue requirement in 2025.
The motion to approve the resolution was made by Councilman Chapman and seconded by Councilwoman Jacinta Green. Because this was a resolution the council took a roll‑call vote; the clerk recorded unanimous ‘‘aye’’ votes and the resolution passed.
