HomeMy WebLinkAbout02-047 - Resolutions RESOLUTION NO. 02-047
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
RANCHO CUCAMONGA, CALIFORNIA, DETERMINING THE
SPECIAL TAX RATE FOR COMMUNITY FACILITIES DISTRICT
2001-01 FOR FISCAL YEAR 2001-2002 AND PROVIDING A
METHOD OF COLLECTION THEREOF
A. RECITALS.
WHEREAS, by its Resolution No. 01-162, adopted on June 20, 2001, the City
Council of the City of Rancho Cucamonga, California (the "City Council'), pursuant to the Mello-
Roos Community Facilities Act of 1982 (Section 53311 and following of the California
Government Code) (the "Act') established City of Rancho Cucamonga Community Facilities
District No. 2001-01 (the "District') and established within the District an improvement area
designated Improvement Area No. 3 (the `Improvement Area"); and
WHEREAS, at an election held on June 20, 2001, the qualified electors of the
Improvement Area unanimously approved the levy of a special tax against properties in the
Improvement Area (the "Special Tax"); and
WHEREAS, by its Ordinance No. 658 (the "Ordinance"), adopted on July 18,
2001, the City Council authorized the levy of the Special Tax in accordance with the Act; and
WHEREAS, on September 18, 2001, the District delivered its $935,000 City of
Rancho Cucamonga Community Facilities District No. 2001-01 Improvement Area No. 3 Special
Tax Bonds Series 2001-B (the "Bonds"); and
WHEREAS, in a Fiscal Agent Agreement dated as of August 1, 2001, by and
between the City and Wells Fargo Bank, National Association (the "Fiscal Agent'), the City
covenanted to fix and levy the Special Tax within the Improvement Area for each fiscal year in
an amount required for the payment of principal and interest on the Bonds becoming due and
payable during that fiscal year, plus administrative expenses, but taking into account certain
balances in funds held by the Fiscal Agent (the "Covenant'); and
WHEREAS, interest will become due and payable on the Bonds during Fiscal
Year 2001-2002 in an amount exceeding funds held by the Fiscal Agent and designated for the
payment for such interest; and
WHEREAS, the Bonds were delivered subsequent to the deadline for directing
the County Auditor-Controller of the County of San Bernardino to collect the Special Tax along
with and in the same manner as the ad valorum property taxes for Tax Year 2001; and
WHEREAS, the City Council intends to levy the Special Tax for Fiscal Year
2001-2002 as authorized by the Ordinance and required by the Covenant; and
WHEREAS, the City Council intends to provide for the collection of such Special
Tax for Fiscal Year 2001-2002 by City staff.
Resolution No. 02-047
Page 2 of 5
NOW THEREFORE, IT IS HEREBY RESOLVED AS FOLLOWS:
SECTION 1: That the above recitals are all true and correct.
SECTION 2: That the specific rate and amount of the Special Tax to be
collected to pay for the costs and expenses for Fiscal Year 2001-
2002 for the District is hereby determined and established as set
forth Exhibit "A" to this Resolution, which is attached hereto and
incorporated herein by reference
SECTION 3: That the rate as set forth above does not exceed the amount as
previously authorized by Ordinance of this legislative body, and is
not in excess of that as previously approved by the qualified
electors of the District.
SECTION 4: That the proceeds of the Special Tax shall be used to pay, in
whole or in part, the costs of the following, in the following order of
priority:
A. Payment of principal and interest on any outstanding
authorized bonded indebtedness;
B. Necessary replenishment of bond reserve funds or other
reserve funds;
C. Payment of costs and expenses of authorized public facilities
and public services, and incidental expenses pursuant to the
Act; and
D. Repayment of advances and loans, if appropriate.
The proceeds of the special taxes shall be used as set forth above, and shall not be
used for any other purpose.
SECTION 5: The City instructs the GIS/Special Districts Manager, or his or her
designee, to collect the Special Tax for Fiscal Year 2001-2002 by
the mailing of a letter of collection to the owner of each parcel of
real property upon which the Special Tax has been levied. Where
multiple parcels subject to the Special Tax are owned by the same
person(s), a single letter of collection may be sent, indicating the
Special Tax due on each parcel under common ownership.
Payment of the Special Tax shall be due on the 601"day following
the mailing of such letter of collection. This method of collection is
hereby authorized by the City Council pursuant to Section 6 of the
Ordinance. To the extent applicable, the payment of the Special
Tax shall be subject to all penalties and all procedures, including
foreclosure, provided for with regard to the Ad Valorum property
tax.
Resolution No. 02-047
Page 3 of 5
SECTION 6: All monies collected pursuant to this Resolution shall be paid into
the Community Facilities District funds, including any bond fund
and reserve fund.
PASSED, APPROVED, AND ADOPTED this 6`h day of February 2002.
AYES: Alexander, Biane, Curatalo, Dutton, Williams
NOES: None
ABSENT: None
ABSTAINED: None
William J. Ale der, Mayor
ATTEST:
Adams, WC, City Clerk
Resolution No. 02-047
Page 4 of 5
I, DEBRA J. ADAMS, CITY CLERK of the City of Rancho Cucamonga,
California, do hereby certify that the foregoing Resolution was duly passed, approved and
adopted by the City Council of the City of Rancho Cucamonga, California, at a Regular Meeting
of said City Council held on the 20`h day of February 2002.
Executed this 21 s' day of February 2002, at Rancho Cucamonga, California.
Debra J. Ad s, CMC, City Clerk
Resolution No. 02-047
Page 5 of 5
City of Rancho Cucamonga
INVOICE FOR FISCAL YEAR 2001/02
Mail payment to: City of Rancho Cucamonga If you have any questions,please call:
Atm: Ingrid Bruce,GIS/Special Districts Supervisor (909)477-2700 ext.2575
10500 Civic Center Dmc
Rancho Cucamonga,CA 91729
(NOTIFY OFFICE OFMT GIANGE OF ADDRESS OR OIGN W111p) Assessor's Parcel Numbers: 0229-021-62,63&64
District:Community Facilities District No.2001-01
CSM&C Expansion,LLC
2131 Convention Center Way
Ontario,CA 91764
InstaWnent Due by August 1,2002
Special Tax Due: $32.725.00
The above referenced parcels are within Community Facihties District 2001-01 (improvement Area 3)and per an agreement entered into during the
formation of this district,you are obligated for the September 2,2002 debt service payment.
(RETAL�;TOP PORTION FOR YOUR RECORDS)
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Assessor Parcel Numbers:0229-021-62,63&64 Mail payment to: City of Rancho Cucamonga
District Community Facilities District No.2001-01 Aan: Inhnid Bmcc,cIS/Special Di tdcta 5npervisor
10500 Civic Ccnmr Dm�
Ranch.Cucamonga,CA 91729
Installment Due by August 1,2002
Special Tax Due: $32.725.00