Title:
Title
Agreement: Approve Harris & Associates, Inc as Special Tax Administrator on City Bonded Districts
End
FileID
File ID: 2019-01827
Location
Location: Citywide
Recommendation:
Recommendation
Pass a Motion 1) approving Harris & Associates, Inc. as Special Tax Administrator for City Bonded Districts during fiscal years 2019/20 through 2024/25; and 2) authorizing the City Treasurer to enter into a Professional Services Agreement in an amount not to exceed $650,000.
Contact: Brian Wong, Debt Manager, (916) 808-5811; Claudia Lara, Treasury Analyst, (916) 808-2267, Office of the City Treasurer
Body
Presenter: None
Attachments:
1-Description/Analysis
2-Professional Services Agreement (Harris & Associates, Inc.)
Description/Analysis
Issue Detail: The City is responsible for administering districts that levy special assessments (for one assessment district) or special taxes (for currently 16 community facilities districts and improvement areas) to pay debt service and other administrative costs associated with bonds issued to finance the construction of or acquisition of public facilities, or to finance the payment of development impact fees. To assist with this administrative responsibility, the City is seeking the services of a special-districts administrator to calculate the correct amount of assessments and apportion special tax levies to be submitted to Sacramento County, prepare an annual levy report for each district, calculate prepayment amounts, maintain historical levy and delinquency records for each district, and provide other similar services as needed.
Policy Considerations: The recommended action is consistent with the Sacramento City Code, Chapter 3.64 (Contracts for Professional Services).
Economic Impacts: None.
Environmental Considerations: The recommended action concerns administrative activities that will not have an effect on the environment and thus do not constitute a "project" subject to the California Environment...
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