14. ADOPT RESOLUTION NO. 21-46 FORMING AND LEVYING ASSESSMENTS WITHIN TUSTIN LANDSCAPE AND LIGHTING REASSESSMENT DISTRICT 2021 AND REPLACING THE EXISTING TUSTIN LANDSCAPE AND LIGHTING DISTRICT The Tustin Landscape and Lighting District was formed in 1985 to fund the maintenance of perimeter landscaping on the arterial highways and for the operation and maintenance of street lighting on public streets within the Tustin Ranch area. Assessments for the benefiting properties were first confirmed for Fiscal Year 1985-1986 and each fiscal year thereafter. Assessments collected through the District do not cover the cost of maintenance. Surplus bond funds have been used since Fiscal Year 2009-2010, as allowed by the California Streets and Highways Code, to fully fund annual maintenance needs within the District boundaries. The surplus funds are nearly exhausted and a new Tustin Landscape and Lighting Reassessment District 2021 (Reassessment District 2021) will need to be formed to ensure annual revenue is not less than expenses. At the April 20, 2021 meeting, the City Council approved the Engineer's Report for the Levy of Annual Assessments for the Tustin Landscape and Lighting Reassessment District 2021 and set a public hearing for June 15, 2021. Ballots were mailed to all property owners on April 30, 2021. At the close of the public hearing, a consultant hired by the City will tabulate all returned ballots to determine if there is sufficient property owner support for creating Reassessment District 2021.