There is also another provision stating that a 50% protest stops the CFD process. What comprises 50%, the people at the public meetings, the registered voters or the City Council?
The majority protest is measured in uninhabited CFD’s by ownership; i.e., that 51% or more of the property OWNERS must protest the formation. The proposed Headlands CFD has a single property owner/entity. Members of the public can speak at the public hearing for formation, but a majority protest only exists if the property owner(s) lodge the protest in accordance with the Mello-Roos Act. The public hearing is scheduled for June 14, 2006 at 6:00 p.m. in the City Council Chambers. 4. While page 4 of the Agenda Report dated June 14, 2006 states that the City has no “contingent payment liability” for the Mello-Roos taxes, the report does not explain what happens if the developer or property owners default on payment of them. In the event of a default, the CFD would foreclose on the property in default on behalf of the bondholders. Typically, the mortgage holder (if any) will cure the default before this happens since the bonds are in a superior position to the mortgage. 5. The CFD Bond is
Related Questions
- There is also another provision stating that a 50% protest stops the CFD process. What comprises 50%, the people at the public meetings, the registered voters or the City Council?
- What happens if a candidate who is recruited from outside of the Public Service is invited to the matching process but does not receive an offer of employment?
- What freedom allows people to peaceably protest at a public setting in the U.S?
