If you cancel by mail, fax, or email, you must send the notice no later than midnight of the third business day following the date on which you signed the contractual assessment.If you send or deliver your written notice to cancel some other way, it must be delivered to the above address no later than the date indicated above.(2) The property owner is deemed to have given notice of cancellation at the moment that the property owner sends the notice by mail, email, or fax or at the moment that the property owner otherwise delivers the notice, as applicable.(c) This section only applies to a property owner who seeks to participate in a program established pursuant to this chapter for the purposes specified in paragraph (2) of subdivision (a) of Section 5898.20 or Section 5899 or 5899.3 for a residential property with four or fewer units.The document shall be provided to the property owner as a printed copy unless the property owner agrees to an electronic copy.You are entering into a contractual assessment with [Provider] for financing that will result in a lien on the property at [Property Address].(a) A public agency shall not permit a property owner to participate in any program established pursuant to this chapter if the owner’s participation would result in the total amount of any annual property taxes and assessments exceeding 5 percent of the property’s market value, as determined at the time of approval of the owner’s contractual assessment.(b) Nothing in this chapter shall be construed to void or otherwise release a property owner from the contractual obligations incurred by a contractual assessment on a property, particularly in the event that the total amount of annual property taxes and assessments exceeds 5 percent of a property’s market value after the property owner has entered into a contractual assessment pursuant to this chapter.(c) This section applies to a property owner who seeks to participate in a program established pursuant to this chapter for types of property not subject to the requirements of Sections 5898..17.
After the designation of a parcel or parcels as an improvement area, all proceedings for approval of the appropriations limit, the rate and method of apportionment and manner of collection of special tax and the authorization to incur bonded indebtedness for the parcel or parcels shall apply only to the improvement area.(g) In connection with a community facilities district formed under this section, as an alternate and independent procedure for making the changes described in Section 53330.7, the changes may be made with the unanimous approval of the owner or owners of the parcel or parcels that will be affected by the change and with the written consent of the local agency.A sample of the disclosure set forth below shall be maintained on a public Internet Web site available to property owners.(b) This section only applies to disclosure to a property owner who seeks to participate in a program established pursuant to this chapter for the purposes specified in paragraph (2) of subdivision (a) of Section 5898.20 or Section 5899 or 5899.3 for a residential property with four or fewer units.Notice to Property Owner: You have the right to request that a hard copy of this document be provided to you before and after reviewing and signing.This bill would also prohibit a public agency from permitting a property owner to participate in a program pursuant to these provisions unless the property owner satisfies certain conditions and the property owner is given the right to cancel the contractual assessment at any time prior to midnight on the 3rd business day after certain events occur without penalty or obligation, consistent with certain requirements.The bill would require a financing estimate document or a substantially equivalent document to be completed and delivered to a property owner before the property owner consummates a voluntary contractual assessment pursuant to one of these programs.