HomeMy WebLinkAbout09-110 - Resolutions RESOLUTION NO. 09-110
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
RANCHO CUCAMONGA, CALIFORNIA, RE-
ESTABLISHING ANNUAL SPECIAL TAX FOR
COMMUNITY FACILITIES DISTRICT NO.93-3(FOOTHILL
MARKETPLACE)
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. 93-3
(FOOTHILL MARKETPLACE)
(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 2009-2010 for the referenced district is
hereby determined and established as set forth in the attached, referenced and incorporated
in the Annual Status Report.
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 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, 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 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 & 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 Annual Status Report.
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.
Please see the following page
for formal adoption,certification and signatures
Resolution No. 09-110 — Page 2 of 7
PASSED, APPROVED, AND ADOPTED this 3`d day of June 2009.
AYES: Gutierrez, Kurth, Michael, Spagnolo, Williams
NOES: None
ABSENT: None
ABSTAINED: None
Donald J. Kurth, M. ., Mayor
ATTEST:
anice C. Reynolds, City Nerk
1, JANICE C. REYNOLDS, 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 3`d day of June 2009.
Executed this 4th day of June 2009, at Rancho Cucamonga, California.
Q�� ""
nice C. Reynolds, City tlerk
Resolution No. 09-110 - Page 3 of 7
Resolution No.
CITY OF RANCHO CUCAMONGA
MELLO-ROOS COMMUNITY
FACILITIES DISTRICT NO. 93-3
FOOTHILL MARKETPLACE
ANNUALSTATUSREPORT
JUNE 2009
Resolution No. 09-110— Page 4 of 7
BACKGROUND
On December 15, 1993, the electors within the boundary of Community Facilities District No.
93-3 (Foothill Marketplace) authorized the District to incur bonded indebtedness in the principal
amount of $4,825,000 for the purpose of financing the acquisition of the street, storm drain,
sewer and water improvements. The district is bounded on the north by Foothill Blvd-, on the
east by Etiwanda Ave. and on the west by Interstate 15.
The maximum rate has been set at $20,000 per acre. This amount can be levied at a lower rate
but cannot exceed the maximum tax rate as set. On July 1, 1999 this district was refunded as
part of Rancho Cucamonga Reassessment District No. 1999-1 under the Rancho Cucamonga
Public Finance Authority (the "Authority"). The Authority issued bonds to acquire the Acquired
Obligations, fund separate reserve funds and pay the costs of issuing the Bonds. The acquired
obligations for Community Facilities District 93-3 are the aggregate principal amount of
$4,525,000.
FISCAL YEAR 2009-2010
The annual tax rate of$14,369 for fiscal year 2009-2010 will provide sufficient funding to pay
for operations and maintenance in the amount of$423,490.
Resolution No. 09-110— Page 5 of 7
Resolution No.
COMMUNITY FACILITIES DISTRICT
PROPOSED USES AND SOURCES OF FUNDS
USES:
DEBT SERVICE $386,920
CITY AND TRUSTEE ADMINISTRATION, $ 35,570
GENERAL OVERHEAD & LIABILITY
CONTRACT SERVICES $ 1,000
DELINQUENT ASSESSMENTS $ 0
$423,490
SOURCES:
INTEREST REVENUE $ 6,520
SPECIAL TAX $423,890
$430,100
$14,369 PER ACRE
Resolution No. 09-110— Page 6 of 7
- ' M C Q Q Community Facilities District 93-3
N � 0 C N
` E L ERANC 10
N Y
CUCAM2pli1 I I U S Q S 2
s_.._.._.._.._.._.._.._.._. _.._ —.._ _.._.._.._.i .._.._.._.._.._.._.._.._.._..L.._..
D7 > '1
IY M i
1 >
Hillside Rd I i ¢ 10 !
m i m .3 i Wilson Av
i 0 io w i
r
i -• 0 i
Banyan St'L
m % _
0
:`
`%
0
D 19th St
77
Z i
0 L
o
0
Base Line Rd • ' /Base"Line Rd
J
Q .J
ro
m i
0
Foothill BI Foothill BI
V
Arrow Rt Arrow Rt
I
8th St
> > -� - -+ Legend
0'o a6th SA N ++ City Limits
0 0 w K CFD93-3
> 4th St _ 4th St
¢> ¢> ¢> ¢> ¢> Q ¢>
v.^.b�.�rr•_e�i... nom..=gym C � (0 C 0
E .n E Y N C
(1) - 3: 0
br.W ,WP...ih CrtyMo,P Me p.rrny. Q = 0 w
Miles
""':� 0.50.25 0 0.5 1 1.5