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RESOLUTION NO. 98- 16 <br />• A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NEWPORT <br />BEACH DECLARING ITS INTENTION TO RENEW THE BALBOA <br />VILLAGE BUSINESS IMPROVEMENT DISTRICT FOR THE FISCAL <br />YEAR OF APRIL 1, 1998 TO MARCH 31, 1999, TO MODIFY THE BASIS <br />FOR LEVYING ASSESSMENTS AND FIXING THE TIME AND PLACE OF <br />A PUBLIC HEARING. <br />WHEREAS, the Balboa Village Business Improvement District was <br />established in 1995 pursuant to the Parking and Business Improvement Area Law of <br />1989, California Streets and Highways Code, Section 36500 et seq., (hereinafter the <br />"Act "), which requires an annual report to be filed and approved by the City Council for <br />each fiscal year; and <br />WHEREAS, the Advisory Board has prepared an Annual Report for the <br />1998 -1999 Fiscal Year which is on file in the Office of the City Clerk; and <br />• WHEREAS, the Act requires the City Council to declare its intention to <br />levy and collect assessments within the Business Improvement District for the next fiscal <br />year; and <br />WHEREAS, the Business Improvement District Advisory Board has <br />recommended the basis for levying assessment be modified. <br />NOW, THEREFORE, the City Council of the City of Newport Beach <br />resolves as follows: <br />Section 1: The Annual Report filed by the Advisory Board is hereby <br />approved. The Annual Report contains a description of improvements and activities to be <br />provided for in the 1998 -1999 Fiscal Year, the area boundaries, and the annual <br />40 assessment within the District. <br />