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Section 11. Bonds shall not be issued to fund the SATMD. <br />Section 12. The SATMD shall include all lodging business with seventy (70) <br />rooms or more located within the boundaries of the the City of Santa Ana. A boundary <br />map is attached hereto as Exhibit A and incorporated herein by reference. <br />Section 13. The assessments shall be used for the purposes set forth above and <br />any funds remaining at the end of any year may be used in subsequent years in which <br />the SATMD assessment is levied as long as they are used consistent with the <br />requirements set forth herein. <br />Section 14. The assessments to fund the activities and improvements for the <br />SATMD will be collected by the City of Santa Ana on a monthly basis, and in accordance <br />with Streets and Highways Code §36631. <br />Section 15. The City Council, through adoption of this Resolution and the Plan, <br />has the right pursuant to Streets and Highways Code §36651, to identify the body that <br />shall implement the proposed program, which shall be the Owners' Association of the <br />SATMD as defined in Streets and Highways Code §36612. The City Council has <br />determined that Travel Santa Ana shall be the SATMD Owners' Association. <br />Section 16. Travel Santa Ana, pursuant to Streets and Highways Code §36650, <br />shall cause to be prepared a report for each fiscal year, except the first year, for which <br />assessments are to be levied and collected to pay the costs of the improvement and <br />activities described in the report. The first report shall be due after the first year of <br />operation of the SATMD. <br />Section 17. The SATMD established pursuant to this resolution will be subject to <br />any amendments to the Property and Business Improvement District Law of 1994 <br />(California Streets and Highways Code §36600 et. seq.). <br />Section 18. The City Clerk, or his or her designee, is directed to take all <br />necessary actions to complete the formation of the SATMD and to levy the assessments. <br />Section 19. This Resolution shall take effect immediately upon its adoption by <br />the City Council, and the Clerk of the Council shall attest to and certify the vote adopting <br />this Resolution. <br />75B-6 <br />