RESOLUTION NO. 25.XXX
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
LAGUNA BEACH, CALIFORNIA, DETERMINING UNPAID
ASSESSMENTS IN UNDERGROUND UTILITY ASSESSMENT
DISTRICT NO. 2021-1 (WEST STREET) AND THE MANNER OF
PAYMENT THEREOF AND LISTING BONDS ISSUED ON THE
SECURITY THEREOF
WHEREAS, this Council has taken proceedings under Article XIIID of the California Constitution, the Municipal Improvement Act of 1913, Division 12 of the California Streets and Highways Code (the “Code”) and California Government Code Section 53750 et seq., and has confirmed an assessment which was recorded on October 6, 2025 in the office of the Superintendent of Streets, and the Assessment Diagram and Notice of Assessment which were recorded in the office of the County Recorder of Orange County on October 7, 2025 and October 21, 2025, respectively; and
WHEREAS, the proceedings provided that the bonds designated City of Laguna Beach Underground Utility Assessment District No. 2021-1 (West Street) Limited Obligation Improvement Bonds would be issued pursuant to the Improvement Bond Act of 1915, Division 10 of the Code (the “Bonds”); and
WHEREAS, a list of unpaid assessments has been filed with the City Clerk by the City Treasurer pursuant to Section 8620 of the Code, following the expiration of the cash collection period on November 17, 2025; and
WHEREAS, this Council has, pursuant to Section 8650.1 of the Code, established the denomination of the Bonds and the amounts to mature each year which is other and different that that provided in Section 8650 of the Code; and
Attachment 1
6 -2- Reso. #
WHEREAS, the Bonds are to be serial or term bonds numbered in consecutive numerical order. The Bonds are to be dated their date of delivery. The first payment of interest is payable on September 2, 2026, and thereafter the interest is payable semi-annually on September 2 and March 2 of each year. The bonds shall mature on September 2 in the amounts and years and bear interest from their dates at the rates to be established in the Bond Purchase Agreement for the Bonds.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LAGUNA BEACH DOES RESOLVE:
SECTION 1. The unpaid assessments which provide the security for the Bonds which are to be issued are those set forth on the list of unpaid assessments filed with the City Clerk as set forth in the recitals.
SECTION 2. The unpaid assessments securing the Bonds shall be payable in the manner provided in Section 8680 et seq. of the Code and shall be payable in the same manner and at the same time and in the same installments as the general taxes of the City on real property are payable.
Pursuant to Section 8682 of the Code, a certified copy of this Resolution and a copy of the list of unpaid assessments shall be filed by the City Clerk in the office of the Auditor of Orange County, California. The County Auditor shall enter in his assessment roll on which taxes will next become due the amount coming due during the fiscal year covered by the applicable assessment roll pursuant to said Section 8682.
ADOPTED this 9th day of December, 2025.
, Mayor
7 -3- Reso. #
ATTEST:
Ann Marie McKay, City Clerk
I, Ann Marie McKay, City Clerk of the City of Laguna Beach, certify that the foregoing Resolution No. 25.XXX was duly adopted at a regular meeting of the City Council of said City held on December 9, 2025, by the following vote:
AYES: COUNCILMEMBERS:
NOES: COUNCILMEMBERS:
ABSTAIN: COUNCILMEMBERS:
Ann Marie McKay, City Clerk
8