California Education Code 17437 – The resolution ordering implementation of the school facilities plan …
The resolution ordering implementation of the school facilities plan shall state the following:
(a) A legal description of the real property to which an owner’s development lien is to be imposed.
Terms Used In California Education Code 17437
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Lien: A claim against real or personal property in satisfaction of a debt.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(b) The names of all owners of record of the real property to which an owner’s development lien is to be imposed.
(c) The total amount of the owner’s development lien to benefit the school district as described in subdivision (g) of Section 17434.
(d) The real property described in the resolution shall be subject to an owner’s development lien for a pro rata share on each acre or portion thereof pursuant to this article or any other amount as herein provided.
(e) That all owners of the real property described in the resolution have agreed on their behalf and on behalf of their successors in interest to pay the designated share of the owner’s development lien, have acknowledged that such agreement constitutes a covenant running with the land pursuant to Section 17431, have agreed that the obligation created is secured by the owner’s development lien as provided in this article, and have consented to the implementation of the owner’s development lien.
(f) That a lease or agreement will be entered into with a nonprofit corporation.
(Added by Stats. 1996, Ch. 277, Sec. 3. Effective January 1, 1997. Operative January 1, 1998.)