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HomeMy WebLinkAbout98-074 - ResolutionsRESOLUTION NO. 98-074 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO CUCAMONGA, CALIFORNIA, RE- ESTABLISHING ANNUAL SPECIAL TAX FOR COMMUNITY FACILITIES DISTRICT NO. 88-2 (DRAINAGE AND LAW ENFORCEMENT) 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. 88-2 (Drainage and Law Enforcement) (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 r.ate and amount of the special tax to be collected to pay for the costs and expenses for the next Fiscal Year 1998/99 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 be used to pay, in whole or in part, the costs of the following, in the following order of priority: Resolution 98-074 Page 2 SECTION 5: SECTION 6: SECTION 7: SECTION 8: A. Payment of principal of 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. 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 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. All monies above collected shall be paid into the Community Facilities District funds, including any bond fund and reserve fund. 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". 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 15th day of April, 1998. AYES: Alexander, Biane, Curatalo, Williams NOES: None ABSENT: None ABSTAINED: None ~ L ......~i'. ,11. i/ :i~¥~."~..!,.~. William J. Alexand&r, Mayor Resolution 98-074 Page 3 ATTEST: Del~ra J. Adams, ~1~1C, City Clerk 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 15th day of April, 1998. Executed this 16th day of April, 1998, at Rancho Cucamonga, California. Debra J. Adams, U':"MC, City Clerk Resolution 98-074 Page 4 CITY OF RANCHO CUCAMONGA COMMUNITY FACILITIES DISTRICT NO. 88-2 EXHIBIT "A" 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 lbr Fiscal Year 1996/97. SPECIAL TAX "A" - DRAINAGE FACILITIES PROPERTY CATEGORIES There are two categories of property subject to the levv of Special Tax "A". which are identified as follows: DEVELOPED PROPERTY All property identified as a single Tax Assessors's parcel for which property a buiklin~ permit has been issued as of May 31 of any year. UNDEVELOPED PROPERTY All other property, excluding property which, as of the date of the election to authorize the lexg~ of Special Tax "A:, is: (i) owned by a public entity; (it) owned by a regulated public utility and being utilized for transmission or distribution purposes: or {iii) zoned as open space. TAXING CLASSIFICATIONS AND SPECIAL TAX "A" RATES The taxing classifications for the above Property Categories and the authorized Special Tax "A" rates for Fiscal Year 1998/99 are as follows: Taxing Classification 'Fax 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 per year (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 a420 per year (2,308-2,563 square feet of dwelling unit living area) * Resolution 98~074 Page 5 Taxing Classification E. Residential Class V (2,051-2,307 square feet of dwelling unit living area) * F. Residential Class VI (Less than 2,051 square feet of dwelling unit living area) * G. Commercial or industrial property Tax Rate $349 per year $245 per year $2,030 per acre per year ** UNDEVELOPED PROPERTY All Undeveloped Property $1,526 per acre per 3,ear *** The square footage of dwelling unit living area shall incan the square footage of internal living space, exclusive of garages and (:)the]- structures not used as living spaice, as shown on the building permit(s) issued tbr 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 the gross acreage exclusive of any acreage dedicated or offered for dedication to a public agency. METHOD OF APPORTIONMENT 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 necessau, to pay authorized expenses of the Community Facilities District related to the financing of authorized public facilities, which may include, withoul 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 tbllows: STEP 1: The Community Facilities District shall estimate the amount of CFD Expenses which must be paid for from Special Trax "A" revenues collected during the Fiscal Year for which the Special Tabx "A" lex.%, is to be eslablished (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 tbr such Fiscal Year shall be levied on all Developed Property. Resolution 98-074 Page 6 STEP 3: STEP 4: 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. 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 Classifications 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: ao Compare (i) the Special Tax "A" rate which would be levied on each Developed Property combining STEP 2 and STEP 4 above with (ii) the product resulting from multiplying the square footage of the Developed Property times the Base Maximum Special Tax "A". The Base Maximum Special Tax "A" means an amourit equal to $0.054 per square foot of the lot or parcel. If the product described in (ii) above exceeds the Special Tax "A" rate described in (i) above for any Developed Property, the Community Facilities District shall increase the Special Tax "A" rate levied on each such Developed Property in equal percentages up to the rate not to exceed the product described in (ii) above necessary to generate the additional Special Tax "A" revenues to equal the Required Special Tax "A" Revenues. SPECIAL TAX "B" - LAW ENFORCEMENT All Developed Property shall be subject to the 1¢'~ of Special Tax "B". The authorized Speeial Tax "B" rates for Fiscal Year 1998-1999 are as follows: Taxing Classification Tax Rate 1. DEVELOPED PROPERTY A. Residential Class I $1.00 per year (More than 3,590 square feet of dwelling unit living area) * B. Residential Class II SI.00 per year (3,077-3,589 square feet of dwelling unit living area) * C. Residential Class III $1.00 per year (2,564-3,076 square feet of dwelling unit living area) * D. Residential Class 1V $ ] .00 per year (2,308-2,563 square feet of dwelling unit living area) * Resolution 98-074 Page 7 Residential Class V (2,051-2,307 square f~et of dwelling unit living area) * Residential Class VI (Less than 2,051 square feet of dwelling unit living area) * S 1.00 per year $1.00 per year G. Commercial or industrial property $1.000 per acre per year ** ]_F- Community Facilities District 88-2 Text Major S~eets IVh. jor Su'eets ,/'X,/City Limits CFD 88-2 Boundary N S ('~eatcd 13: Clllis April 6.