HomeMy WebLinkAbout92-168 - Resolutions RESOLUi~(I~ NO. 92-168
A RESOLUTI~ OF ~HE CITY ~ OF THE CITY OF RANCHO
~, CALL~C~U-A, ESTABLI~ ANN-dAL SPECIAL TAX
F-~ ~ FA~TLIT/ES DISTRICT NO. 88-2 (EI~kINAGE AND
LAW ~)
~EAS, the City Council of the City of Rancho Cucamonga (hmrein-
after referred to as the "legislative body of the local Agency"), has
initiated ~0oeed/r~3s, held a public hearing, o0~d an election and
received a favorable vote frc~ the qualified electors relating to the levy of
a special tax in a C~m..unity Facilities District, all as authorized pursuant
to the terms and provisions of the '~ello-Roos C~mmmity Facilities Act of
1982," being Ok3ptmr 2.5, Part 1, Divisic~ 2, Title 5 of the Gove~ Code
for the State of California. This C~mmunity Facilities District shall herein-
after be referred to as ~ FACILITT~R DISTRICT NO. 88-2 (Drainage and
~{~REAS, at this time, bonds have been authorized for purposes of
financing the p~oject facilities for said District; and
WHEREAS, this legislative body, by ord/nance as authorized by Sectic~
53340 of the Govex]at~nt COde of the State of CaliforTuia, b~ authc=ized the
levy of a special tax to pay for costs and expenses related to said C~m~unity
Facilities District, and this legislative body is desirous to establish the
specific rate of the special tax to be collected for the next fiscal year.
NOW, TH~EFORE, the city Council of the City of Rancho Cucamonga does
hereby resolve as follows:
S~Ci~(~ 2: ~hat the specific rate ar~ amount of the special tax to
be collected to pay for the coets and expenses for the next Fiscal Year
1992-93 for the referenced d~trict is hereby det~r~fu~ed a~d established as
set forth in the attached, referenced and incorporated Emhibit "A."
SECTI~ 3: That the rate as set forth above does not exceed the
amount as previously authorized by cxdinanoe of this legislative body, and is
not in exoess of that as previously approved by the qualified electors of tb~
District.
SqDCTION 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 of and interest on any outstandir~
authorized bonded ir~lebt~ss; and
B. Necessary repl~ of bc~d reserve fur~s or other reserve
C. Payment of costs and expenses of authorized public facilities
and public services; and
Resolution No. 92-168
Page 2
D. Repa~ of advances and loans, if appropriate.
~%e proceeds of the special taxes shall be used as set f~rth above, and shall
S~CTION 5: The special tax shall be collected in the same manner as
ordinary ad valorem property taxes are collected, a~d shall be subject to the
same penalties ar~ same procedure and sale in cases of any delinquency for ad
valorem taxes, and the Tax Oollector is hereby authorized to deduct reasomahle
administrative costs incurred in collecting any said special tax.
SECTION 6: All monies above collected shall be paid into the
C~,m~nity Facilities District funds, including any bond fund and reserve fund.
lot or paroel of land effected in a space marked '~ublic im~, special
tax", or by any other suitable designation, the installment of the special
tax, and for the exact rate and amount of said tax, reference is made to the
attac~ed Exb ~ hit "A."
SECTION 8: Ihe Oounty Auditor shall then, at the cloee of the tax
also provide a statement of any peroe~ retained for the expense of making
PASS~D, ~, and ADOPTED this 3rd day of June, 1992.
AYES: Alexander, Buquet, Stout, Williams, Wright
~ L. Stout, Ma~u~
Resolution No. 92-168
Page 3
I, DW~A J. ADAMS, ~ ~FRK of the City of Rancho Cucamonga,
California, do hereby oartify that the f~ing Resolutio~ was duly passed,
ap~xmm~d, and ~ by the City Council of the City of Rancho Cucamonga,
California, at a regular meetin~ of said City Council held on the 3rd day of
June, 1992.
Executed t/his 4th day of June, 1992, at Raft. ho Cucamonga, California.
'~/~a J. ~ums, City Clerk
Resolution No. 92-168
Page 4
CITY OF RANCHO CUCAMONGA
COMMUNITY FACILITIES DISTRICT NO. 88-2
EXHIBIT ",~'
The Resolution establishing the annual special tax refers to this Exhibit for an explanation of
the rate and method of apportionment of the Special Taxes for Fiscal Year 1992/93.
SPECIAL TAX "P2' - DRAINAC=E FACILITIE~
PROPERTY CATEGORIE~
There are two categories of property subject to the levy of Special Tax 'A', which are identified
as follows:
1. DEVELOPED PROPERTY All property identified as a single Tax Assessors's parcel
for which property a building permit has been issued as of
May 31 of any year.
2. UNDEVELOPED PROPERTY All other property, excluding property which, as of the
date of the election to authorize the levy of Special Tax 'A:,
is: (l) owned by a public entity; (ii) owned by a regulated
public utility and being utilized for transmission or
distribution purposes; or (iii) zoned as open space.
TAXING CLA~$1FICATION8 AND
SPECIA~ TAX "~g' RATE~
The taxing classifications for the above Property Categories and the authorized Special Tax "A"
rates for Fiscal Year 1991/92 are as follows:
Taxing Classification Tax Rate
1. DEVELOPED PROPERTY
A. Residential Class I $944 per year
(More than 3,590 square feet of
dwelling unit living area) *
B. Residential II $699 peryear
(3,077-3,589 square feet of
dwelling unit living area) *
C. Residential III $524 per year
(2,564-3,076 square feet of
dwelling unit living area) *
D. Residential Class IV $420 per yem'
(2,308-2,563 square feet of
dwelling unit living area) *
Resolution No. 92-168
Page5
Taxing Classification Tax Rate
E. Residential Class V $349 per year
{2,051-2,307 square feet of
dwelling unit living area) *
F. Residential Class VI $245 per year
(Less than 2,051 square feet of
dwelling unit living area) *
G. Commercial or industrial property $2,030 per acre per year **
2. UNDEVELOPED PROPERTY
All Undeveloped Property $1,344 per acre per year ***
* The square footage of dwelling unit living area shall mean the square footage of
internal living space, exclusive of garages and other structures not used as living space,
as shown on the building permit{s) issued for the dwelling unit.
** The acreage of a commercial or industrial property shall mean' the gross acreage
exclusive of any acreage dedicated or offered for dedication to a public agency.
*** The acreage of an Undeveloped Property shall be 'he gross acreage exclusive of any
acreage dedicated or offered for dedication to a pub': ~. agency.
METHOD OF APPORTIONB~t-NT OF SPECIAL TAX "A"
Special Tax "A' shall be levied annually on all taxable property within one of the above
identified Property Categories so long as Special Tax "A' revenues are necessary to pay
authorized expenses of the Community Facilities District related to the financing of
authorized public facilities, which may include, without limitation, payment of debt service on
any bonded indebtedness of the Community Facilities District; replenishment of any required
reserve fund for any such bonded indebtedness; funding of any required sinking fund necessary
to pay for future public facilities or debt service; or direct payment for public facilities (CFD
Expenses").
The annual levy of Special Tax 'A' shall be apportioned as follows:
STEP 1: The Community Facilities District shall estimate the amount of CFD Expenses
which must be paid for from Special Tax "A' revenues collected during the Fiscal
Year for which the Special Tax 'A" levy is to be established (the "Required
Special Tax 'A' Revenue").
STEP 2: That equal percentage of the Special Tax 'A" rate, not to exceed 91% of the
maximum authorized Special Tax "A" rate, applicable to all Developed Property
Taxing Classifications necessary to generate Special Tax 'A" revenue in the
Fiscal Year of the levy equal to the Required Special Tax "A" Revenue for such
Fiscal Year shall be levied on all Developed Property.
STEP 3: If additional Special Tax "A' revenues are still necessary to generate the
Required Special Tax 'A' Revenue, that percentage of the maximum authorized
Special Tax "A' rate applicable to all Undeveloped Property necessary to
generate such additional Special Tax "A' revenue shall be levied on all
Undeveloped Property.
Resolutic~ No. 92-168
STEP 4: If additional Special Tax "A" revenues are still necessary to generate the
Required Special Tax 'A" Revenue, that equal percentage of the maximum
authorized Special Tax "A" rate applicable to all Developed Property Taxing
Classffications necessary to generate such additional Special Tax "A" revenue
shall be levied on all Developed Property.
STEP 5: If additional Special Tax "A" revenues are still necessary to generate the
Required Special Tax "A' Revenue, the Community Facilities District shall:
A. Compare (l) the Special Tax "A" rote which would be levied on each
Developed Property combinir~ STEP 2 and STEP 4 above with (ii) the
product resulting from multiplying the square footage af the Developed
Property times the Base Maximum Special Tax 'A'. The Base Maximum
Special Tax "A" means an amount equal to *0.054 per square foot of the
lot or parcel.
B. If the product described in (ii) above exceeds the Special Tax "A" rate
described in (l) above for any Developed Property, the Community
Facilities District shall increase the Special Tax 'A' rate levied on each
such Developed Property in equal llercent~es up to the rate not to exceed
the product described in (ii) above necesaary to generate the additional
Special Tax "A" revenues to equal the Required Special Tax "A' Revenues.
SPECIAL TAX "B" - LAW
All Developed Property shall be subject to the levy of Special Tax '~3'. The authorized Special
Tax "B" rates for Fiscal Year 1992-1993 are as follows:
Taxin_~ Classification T~ Rate
1. DEVELOPED PROPERTY
A. Residential Class I $1 per year
IMore than 3,590 square feet of
dwelling unit living area) *
K Residential Class II $1 per year
{3,077-3,589 square feet of
dwelling umt living area) *
C. Residential Class III $1 per year
{2,564-3,076 sq~mre feet of
dwelling umt Uving area! *
D. Re~dential Class IV $1 per year
(2,308-2,563 square feet of
dwelling unit living area) *
E. Residential Class V $1 per year
{2,051-2.307 square feet of
dwelling unit living area) *
F. Residential Class VI $1 per year
(Less than 2,051 square feet of
dwelling unit living area) *
Resolution No. 92-168
Page?
PROPOSED BOUNDAR~$
OF
CO~UNITY FACU~T~S D~TRICT NO. 88-2
OF T~E
crrY OF RANCHO CUCA~ONGA. COUNTY OF SAN BERNARDIN0,
STATE OF CALIFORNIA