1915 Act Bond Assessment District

1915 Act Bond Assessment District is a special assessment district created pursuant to the Improvement Act of 1911 (Streets and Highways Code Section 5000 et seq.) or the Municipal Improvement Act of 1913 (Streets and Highways Code Section 10000 et seq.).

1915 Act :

The Act allows any county, city, special district, school district or joint powers of authority to establish a " District" which allows for the financing of public services and facilities. The services and facilities 1915 Act Bond Districts can provide include streets, police protection, fire protection, ambulatory, elementary schools, parks, libraries, museums, and cultural facilities.

A requisite for the 1915 Act Bond districts' establishment is that it be approved by two-thirds margin of qualified voters in the district. If there are fewer than twelve registered voters within the proposed district, the vote may be passed by current landowners. At the close of legal proceedings, an established 1915 Act Bond District has all the legal privileges of a legally sanctioned governmental body.

Responsibilities of Property Owners in the 1915 Act Bond Districts :

Property owners in 1915 Act Bond District are responsible for payment of the "special tax". The amount of the "special tax" is not (directly) based on the value of the property. Special taxes are based on mathematical formulas that take into account property characteristics such as square footage of the home and parcel size. The special tax is typically included in the annual County tax bill, however it can also be paid off on a monthly basis.

Legal Rights of the District :

A 1915 Act Bond District has the legal right to adopt stringent penalties and foreclosure priorities; in the event that the special tax payment is delinquent. Ergo, if the "special tax" is not paid, the District may exercise its legal right to foreclose and sell the property. Foreclosure rights can be initiated after 90 - 180 days in arrears.

Disclosure (California Civil Code §§1102.6b):

Seller shall make a good faith effort to obtain a disclosure "Notice of Special Tax" from local agencies which levy on the property a special tax pursuant to the Improvement Bond Act of 1915, and shall promptly deliver to the prospective buyer any such notice made available by those agencies.