HomeMy WebLinkAbout96-059 - ResolutionsRESOLUTION NO. 96-059
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
RANCHO CUCAMONGA, CALIFORNIA, RE-ESTABLISHING
ANNUAL SPECIAL TAX FOR COMMUNITY FACILITIES DISTRICT
84-1 (DAY CREEK DRAINAGE SYSTEM)
WHEREAS, the City Council of the City of Rancho Cucamonga, California,
(hereinafter referred to as the "legislative body of the local Agency"), has initiated proceedings, held
a public hearing, conducted an election and received a favorable vote from the qualified electors
relating to the levy of a special tax in a Community Facilities District, all as authorized pursuant to
the terms and provisions of the "Mello Roos Community Facilities Act of 1982", being Chapter 2.5,
Part 1, Division 2, Title 5 of the Government Code for the State of California. This Community
Facilities District shall hereinafter be referred to as
COMMUNITY FACILITIES DISTRICT NO. 84-1
(DAY CREEK DRAINAGE SYSTEM)
(hereinafter referred to as the "District"); and
WHEREAS, at this time, bonds have been authorized for purposes of financing the
project facilities for said District; and
WHEREAS, this legislative body, by Ordinance as authorized by Section 53340 of
the Government Code of the State of California, has authorized the levy of a special tax to pay for
costs and expenses related to said Community 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 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 the next fiscal year 1996-97 for the
referenced district is hereby determined and established as set forth in the attached,
referenced and incorporated Exhibit "A".
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:
Payment of principal of and interest on any outstanding authorized
bonded indebtedness;
Resolution No. 96-059
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Bq
Necessary replenishment of bond reserve funds or other reserve
funds;
Payment of costs and expenses of authorized public facilities and
public services.
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 $: The special tax shall be collected in the same manner as
ordinary ad valorem property taxes are collected, and shall be subject to the same
penalties and same procedure and sale in cases of any delinquency for ad valorem
taxes, and the Tax Collector is hereby authorized to deduct reasonable
administrative costs incurred in collecting any said special tax.
SECTION 6: .All monies above collected shall be paid into the Community
Facilities District funds, including any bond fund and reserve fund.
SECTION 7: The Auditor of the County is hereby directed to enter in the
next county assessment roll on which taxes will become due, opposite each lot or
parcel of land effected in a space marked "public improvements, 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 attached Exhibit "A".
SECTION 8: The County Auditor shall then, at the close of the tax
collection period, promptly render to this Agency a detailed report showing the
amount and/or amounts of such special tax installments, interest, penalties and
percentages so collected and from what property collected, and also provide a
statement of any percentages retained for the expense of making any such
collection.
PASSED, APPROVED, AND ADOPTED this 17th day of April, 1996.
AYES: Alexander, Biane, Curatalo, Gutierrez, Williams
NOES: None
ABSENT: None
William Ji Alexa/l:~!er, Mayor
./
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ATTEST:
Debra J. Adams,(~C,
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 17th
day of April, 1996.
Executed this 18th day of April, 1996, at Rancho Cucamonga, California.
Debra J Ada~ ~,~C~C, C~ty Clerk
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CITY OF RANCHO CUCAMONGA
COMMUNITY FACILITIES DISTRICT NO. 84-1
(DAY CREEK DRAINAGE SYSTEM)
EXHIBIT "A"
The Community Facilities District has been divided into two zones:
1. ZONE "A": General areas to be served by the drainage facilities, exclusive of Zone "B".
2. ZONE "B": A limited area, being only partially served by drainage facilities. Zone "B":
consists of those properties bounded on the south by FOOTHILL
BOULEVARD, on the East by ROCHESTER AVENUE, on the North by
BASELINE ROAD, and on the West by MILLIKEN AVENUE.
The rate, method and formula for the levy of the special tax for the respective zones, being Zone
"A" and Zone "B", is as follows, based upon an estimated bond amount of $18,000,000 payable
over a period of twenty (20) years.
ZONE "A": $297.48 PER ACRE.
ZONE "B": $297.48 PER ACRE FOR 190 ACRES.
For the purpose of defining the maximum special Tax, "ACRE" shall mean acres contained in the
area of the parcel as determined using the acres as shown on the latest San Bernardino County
Assessor's maps.
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CITY OF RANCHO CUCAMONGA
MELLO-ROOS COMMUNITY
FACILITIES DISTRICT NO. 84-1
DAY CREEK DRAINAGE SYSTEM
ANNUAL STATUS REPORT
APRIL 1996
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HACK~ROUN~
On June 26, 1984, the electors within the boundaries of Community
Facilities District No. 84-1 (Day Creek Drainage System) authorized the
District to incur bonded indebtedness in the principal amount of
$20,225,000. In August 1985 bonds in the amount of $18,000,000 were
issued to finance the construction and installation of public capital drainage
facilities to serve and provide drainage protection to all properties located
within the boundaries of CommuniW Facilities District No. 84-1 (Day Creek
Drainage System). In March of 1986 the area bounded on the west by
Milliken Avenue, on the north by the northerly CiW limits, on the east by
Rochester Avenue and on the south by Highland Avenue was annexed into
the district.
The first annual special tax rate of $350 per acre was set by City Council in
Fiscal Year 1985/86. This rate has never been increased in the ensuing
fiscal years. However, on May 5, 1992, the City conducted a refunding of
this district. Bonds were issued for $16,530,000.00 to cover the remaining
debt. The savings from this refunding were passed on to the residents and
decreased the special annual tax from $350 per acre to $297.48 per acre.
Under the Loan and Pledge Agreement the Redevelopment Agency
contributes sufficient funds each fiscal year, that when combined with the
special tax meet the requirements of the annual debt service payment.
All phases of construction for the Day Creek Drainage System are completed.
The construction contract was administered by the County of San
Bernardino.
F!~C~T. y!~A~ 1996/97
The current rate of $297.48 per acre for fiscal year 1996/97 along with the
Redevelopment Agency contribution of $1,000,000 will provide sufficient
funding to pay debt service in the amount of $1,780,460.
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COMMUNITY FACILITIES DISTRICT
PROPOSED USES AND SOURCES OF FUNDS
U-~R~:
DEBT SERVICE
ADMINISTRATION, GENERAL OVERHEAD
& LIABILITY
DELINQUENT ASSESSMENTS
$1,780,460
$ 109,120
$ 113.850
$2,003,430
.~Ob'~:
DELINQUENT ASSESSMENTS
INTEREST REVENUE
SPECIAL TAX
REDEVELOPMENT AGENCY
$ 18,230
$ 37,O00
$ 948,200
$1.000.000
$2,003,430
$297.48 PER ACRE
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