192096

The City of Portland ordains.

Section 1. The Council finds:

1. The Revenue Division has on file signed installment payment contracts for bond financing of system development charges.  Each payment contract contains the amount of the system development charge to be financed, the financing fee charged by the Revenue Division, the legal description of the benefited property, financing terms and conditions, and the signature(s) of the property owners.
    
   1. Exhibit A is the assessment roll of the installment payment contracts to finance system development charges.  The contracts include system development charges totaling $326,118.99, and financing charges of $2,037.97, which are used to pay for assessing, processing and financing the liens.  Each assessment amount on the roll reflects the system development charge and the financing cost.  The financed system development charge contracts total $328,156.96.
       
2. The Revenue Division has on file signed deferral contracts for payment of deferred system development charges.  As required by the below-mentioned statutes and Code provisions, each deferral contract contains the amount of the system development charge, the legal description of the benefited property, deferral terms and conditions, and the signature(s) of the property owners.
    
   1. Exhibit B is the assessment roll of the deferral contracts to defer system development charges.  The deferred system development charge contracts total $2,971,205.42.
       
3. City Code Chapter 17.14 provides for financing system development charges.
    
4. On March 3, 1993, the Council adopted Ordinance No. 166291, establishing the Private Plumbing Loan program to expand private plumbing options available to eligible property owners with incomes that exceed 80% of the regional median income.
    
5. The Revenue Division has on file signed private plumbing contracts from qualified property owners who wish to participate in the program.  As required by the below-mentioned statutes and Code provisions, each contract contains the amount of the private plumbing charge, the loan origination fee, the financing fee, the legal description of the benefited property, financing terms and conditions, and the signature(s) of the property owners.
    
   1. Exhibit C is the assessment roll of the private plumbing contracts.  The contracts include sewer connection charges totaling $56,750.00, financing charges of $ 250.00, and loan origination fees of $ 200.00 which are used to pay for the cost of assessing and processing the liens.  Each assessment amount on the roll reflects the sewer connection charge and the financing costs.  The private plumbing contracts total $57,200.00.
       
6. City Code Section 17.33.070 states that the City shall provide sewer connection assistance to eligible property owners based on administrative rules and procedures adopted by the Director.
    
7. Portland Policy Document (PPD) ENB-4.28, section “General Public Loans Programs,” includes rules and procedures for the deferral of private plumbing costs.
    
8. The Revenue Division has on file signed private plumbing charge deferral contracts from qualified property owners who wish to participate in the program.  As required by the above-mentioned statutes, Code provisions, and Policy Document each deferral contract contains the amount of the private plumbing charge, the legal description of the benefited property, the deferral ending date, financing terms and conditions, and the signature(s) of the property owners.
    
   1. Exhibit D is the assessment roll of the deferral contracts to defer private plumbing charges.  The private plumbing charge deferral contracts total $188,832.66.
       
9. The combined total of the system development charge installment contracts, system development charge deferral contracts, private plumbing contracts, and private plumbing deferral contracts to be assessed by this Ordinance is $3,545,395.04. 

NOW, THEREFORE, the Council directs:

1. System development charges and financing fees on benefited property as described in Exhibit A, are hereby approved and assessed.
2. Deferred system development charges as described in Exhibit B, are hereby approved and assessed.
3. Private plumbing charges as described in Exhibit C, are hereby approved and assessed. 
   Private plumbing deferral charges as described in Exhibit D, are hereby approved and assessed.
4. Revenue Division to enter these assessments into the Docket of City Liens.  The assessments represent liens on benefited property for financed system development charges and private plumbing loans with their financing fees, and the deferral of system development charges and private plumbing loans.
5. As allowed by City Code Section 17.12.060 this ordinance will be in full force and effect from and after its passage by Council.