HomeMy WebLinkAbout09-117 - Resolutions RESOLUTION NO. 09-117
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
RANCHO CUCAMONGA, CALIFORNIA, RE-ESTABLISHING
ANNUAL SPECIAL TAX RATE FOR COMMUNITY FACILITIES
DISTRICT 2003-01 FOR FISCAL YEAR 2009-2010
(IMPROVEMENT AREA NO. 1 ZONES 1, 2 & 3), SERIES 2003-A
Recitals
WHEREAS, by its Resolution No. 03-031, adopted on February 19, 2003, 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. 2003-01 (the "District') and established within the District improvement areas
designated Improvement Area No. 1, Zones 1, 2 & 3 (the "Improvement Area'); and
WHEREAS, at an election held on February 19, 2003, the qualified electors of the
Improvement Area No. 1, Zones 1, 2 & 3 unanimously approved the levy of a special tax against
properties in the Improvement Area (the "Special Tax'); and
WHEREAS, by its Ordinance No. 699 (the "Ordinance'), adopted on March 3, 2003 the
City Council authorized the levy of the Special Tax in accordance with the Act; and
WHEREAS, on August 20, 2003, the District delivered its $14,645,000 City of Rancho
Cucamonga Community Facilities District No. 2003-01 Improvement Area No. 1, Zones 1, 2 & 3
Special Tax Bonds Series 2003-A (the "Bonds"); and
WHEREAS, in a Fiscal Agent Agreement dated as of July 1, 2003 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 No. 1, Zones 1, 2 & 3 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
2009-2010 in an amount exceeding funds held by the Fiscal Agent and designated for the
payment for such interest; and
WHEREAS, the City Council intends to levy the Special Tax for Fiscal Year 2009-2010
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 2009-2010 by City staff.
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 2009-2010 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 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
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 collected pursuant to this Resolution 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
expense of making any such collection.
Please see the following page
for formal adoption,certification and signatures
Resolution No. 09-117 — Page 2 of 10
PASSED, APPROVED, AND ADOPTED this 3rd day of June 2009.
AYES: Gutierrez, Kurth, Michael, Spagnolo, Williams
NOES: None
ABSENT: None
ABSTAINED: None
r)
Donald J. Kurth, Mayor
ATTEST:
Q121" - 'r'.
nice C. Reynolds, City C16fk
I, 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 3r° day of June 2009.
Executed this 4`h day of June 2009, at Rancho Cucamonga, California.
nice C. Reynolds, City Clerk
Resolution No. 09-117 - Page 3 of 10
CITY OF RANCHO CUCAMONGA
COMMUNITY FACILITIES DISTRICT NO. 2003-01
(IMPROVEMENT AREA NO. 1, ZONES 1, 2 & 3)
SERIES 2003-A
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 for Fiscal Year 2009/2010.
CLASSIFICATION OF PARCELS
Improvement Area No. 1
Each Fiscal Year, all Taxable Property within Zone 1, Zone 2, and Zone 3 of CFD No.
2003-01 (IA No. 1) shall be classified as Developed Property or Undeveloped Property, and
shall be subject to the levy of Special Taxes in accordance with the rate and method of
apportionment determined pursuant to the sections below.
MAXIMUM SPECIAL TAX RATE
1. ZONE 1
a. Zone 1 Developed Property
(i). Maximum Special Tax
The Maximum Special Tax for each Assessor's Parcel in
Zone 1 classified as Developed Property shall be the greater
of(i) the amount derived by application of the Assigned Special
Tax for Zone 1 or(ii) the amount derived by application of the
Backup Special Tax for Zone 1.
(ii). Assigned Special Tax
The Assigned Special Tax for each Assessor's Parcel of
Developed Property in Zone 1 of CFD No. 2003-01
(IA No. 1) shall equal $4,318 per Acre for Fiscal Year
2003-04, and shall increase thereafter, commencing on July 1,
Resolution No. 09-117—Page 4 of 10
2004 and on July 1 of each Fiscal Year thereafter, by an amount
equal to two percent (2%) of the Assigned Special Tax for the
previous Fiscal Year.
(iii). Backup Special Tax
The Backup Special Tax for each Assessor's Parcel of
Developed Property in Zone 1 of CFD No. 2003-01
(IA No. 1) shall equal $4,798 per Acre for Fiscal Year
2003-04, and shall increase thereafter, commencing on July 1,
2004 and on July 1 of each Fiscal Year thereafter, by an amount
equal to two percent (2%) of the Backup Special Tax for the
previous Fiscal Year.
b. Zone 1 Undeveloped Property
The Maximum Special Tax for Undeveloped Property in Zone 1
of CFD No. 2003-01 (IA No. 1) shall be $4,798 per Acre for Fiscal
Year 2003-04, and shall increase thereafter, commencing on July 1,
2004 and on July 1 of each Fiscal Year thereafter, by an amount
equal to two percent (2%) of the Maximum Special Tax for the
previous Fiscal Year.
ZONE 2
a. Zone 2 Developed Property
(i). Maximum Special Tax
The Maximum Special Tax for each Assessor's Parcel
in Zone 2 classified as Developed Property shall be the
greater of(i) the amount derived by application of the
Assigned Special Tax for Zone 2 or(ii) the amount
derived by application of the Backup Special Tax for Zone 2.
(ii). Assigned Special Tax
The Assigned Special Tax for each Assessor's Parcel
of Developed Property in Zone 2 of CFD No. 2003-01
(IA No. 1) shall equal $36,294 per Acre for Fiscal Year
2003-04, and shall increase thereafter, commencing on July 1,
2004 and on July 1 of each Fiscal Year thereafter, by an amount
equal to two percent (2%) of the Assigned Special Tax for
the previous Fiscal Year.
Resolution No. 09-117 —Page 5 of 10
(iii). Backup Special Tax
The Backup Special Tax for each Assessor's Parcel of
Developed Property in Zone 2 of CFD No. 2003-01
(IA No. 1) shall equal $40,327 per Acre for Fiscal Year
2003-04, and shall increase thereafter, commencing on July 1,
2004 and on July 1 of each Fiscal Year thereafter, by an amount
equal to two percent (2%) of the Backup Special Tax for the
previous Fiscal Year.
Zone 2 Undeveloped Property
The Maximum Special Tax for Undeveloped Property in Zone 2
of CFD No. 2003-01 (IA No. 1) shall be $12,817 per Acre for
Fiscal Year 2003-04, and shall increase thereafter, commencing
on July 1, 2004 and on July 1 of each Fiscal Year thereafter, by an
amount equal to two percent (2%) of the Maximum Special Tax for
the previous Fiscal Year.
3. ZONE 3
a. Zone 3 Developed Property
(i). Maximum Special Tax
The Maximum Special Tax for each Assessor's Parcel in Zone 3 classified
as Developed Property shall be the greater of(i) the amount derived by
application of the Assigned Special Tax for Zone 3 or(ii) the amount derived
by application of the Backup Special Tax for Zone 3.
(ii). Assigned Special Tax
The Assigned Special Tax for each Assessor's Parcel
of Developed Property in Zone 3 of CFD No. 2003-01
(IA No. 1) shall equal $10,272 per Acre for Fiscal Year
2003-04, and shall increase thereafter, commencing on July 1,
2004 and on July 1 of each Fiscal Year thereafter, by an
amount equal to two percent (2%) of the Assigned Special
Tax for the previous Fiscal Year.
(iii). Backup Special Tax
The Backup Special Tax for each Assessor's Parcel of
Developed Property in Zone 3 of CFD No. 2003-01
(IA No. 1) shall equal $11,413 per Acre for Fiscal Year
2003-04, and shall increase thereafter, commencing on July 1,
Resolution No. 09-117 —Page 6 of 10
2004 and on July 1 of each Fiscal Year thereafter, by an
amount equal to two percent (2%) of the Backup Special
Tax for the previous Fiscal Year.
b. Zone 3 Undeveloped Property
The Maximum Special Tax for Undeveloped Property in Zone 3
of CFD No. 2003-01 (IA No. 1) shall be $11,413 per Acre
for Fiscal Year 2003-04, and shall increase thereafter,
commencing on July 1, 2004 and on July 1 of each Fiscal Year
thereafter, by an amount equal to two percent (2%) of the
Maximum Special Tax for the previous Fiscal Year.
D. METHOD OF APPORTIONMENT OF THE SPECIAL TAX
1. ZONE 1
Commencing with Fiscal Year 2003-04 and for each following Fiscal
Year, the Council shall determine the Zone 1 Special Tax Requirement
and levy the Special Tax in Zone 1 until the amount of Special Taxes
levied in Zone 1 is equal to the Zone 1 Special Tax Requirement.
The Special Tax shall be levied in Zone 1 each Fiscal Year as follows:
First: The Special Tax shall be levied on each Assessor's Parcel of
Developed Property in Zone 1 in an amount equal to 100% of the
Assigned Special Tax for Developed Property;
Second: If additional monies are needed to satisfy the Zone 1 Special Tax
Requirement after the first step has been completed, the Special Tax shall be
levied Proportionately on each Assessor's Parcel of Undeveloped Property in
Zone 1 at up to 100% of the Maximum Special Tax for Undeveloped Property;
Third: If additional monies are needed to satisfy the Zone 1 Special Tax
Requirement after the first two steps have been completed, then the levy of the
Special Tax on each Assessor's Parcel of Developed Property in Zone I whose
Maximum Special Tax is equal to the Backup Special Tax shall be increased
Proportionately from the Assigned Special Tax up to the Maximum Special
Tax for each such Assessor's Parcel.
Notwithstanding the above, the Council may in any Fiscal Year levy
Proportionately less than 100% of the Assigned Special Tax in step one
(above) when the Council no longer must levy a Special Tax in Zone 1
pursuant to steps two and three above, and (i) all authorized CFD No. 2003-01
(IA No. 1) Bonds have already been issued, or (ii) the Council has covenanted
that it will not issue any additional CFD No. 2003-01 (IA No. 1) Bonds
(except refunding bonds) to be supported by Special Taxes levied under this
Rate and Method of Apportionment.
Resolution No. 09-117 —Page 7 of 10
Further notwithstanding the above, under no circumstances will the Special
Tax levied against any Assessor's Parcel of Residential Property for which an
occupancy permit for private residential use has been issued be increased by
more than ten percent as a consequence of delinquency or default by the owner
of any other Assessor's Parcel within Zone 1, except for those Residential
Properties whose owners are also delinquent or in default on their Special Tax
payments for one or more other properties within Zone 1.
2. ZONE 2
Commencing with Fiscal Year 2003-04 and for each following Fiscal Year,
the Council shall determine the Zone 2 Special Tax Requirement and levy the
Special Tax in Zone 2 until the amount of Special Taxes levied in Zone 2 is
equal to the Zone 2 Special Tax Requirement. The Special Tax shall be levied
in Zone 2 each Fiscal Year as follows:
First: The Special Tax shall be levied on each Assessor's Parcel of Developed
Property in Zone 2 in an amount equal to 100% of the Assigned Special Tax
for Developed Property;
Second: If additional monies are needed to satisfy the Zone 2 Special Tax
Requirement after the first step has been completed, the Special Tax shall be
levied Proportionately on each Assessor's Parcel of Undeveloped Property in
Zone 2 at up to 100% of the'Maximum Special Tax for Undeveloped Property;
Proportionately from the Assigned Special Tax up to the Maximum Special
Tax for each such Assessor's Parcel.
Notwithstanding the above, the Council may in any Fiscal Year levy
Proportionately less than 100% of the Assigned Special Tax in step one
(above) when the Council no longer must levy a Special Tax in Zone 2
pursuant to steps two and three above, and (i) all authorized CFD No. 2003-01
(IA No. 1) Bonds have already been issued, or (ii) the Council has covenanted
that it will not issue any additional CFD No. 2003-01 (IA No. 1) Bonds
(except refunding bonds) to be supported by Special Taxes levied under this
Rate and Method of Apportionment.
3. ZONE 3
Commencing with Fiscal Year 2003-04 and for each following Fiscal Year,
the Council shall determine the Zone 3 Special Tax Requirement and levy the
Special Tax in Zone 3 until the amount of Special Taxes levied in Zone 3 is
equal to the Zone 3 Special Tax Requirement. The Special Tax shall be levied
in Zone 3 each Fiscal Year as follows:
Resolution No. 09-117 —Page 8 of 10
First: The Special Tax shall be levied on each Assessor's Parcel of Developed
Property in Zone 3 in an amount equal to 100% of the Assigned Special Tax
for Developed Property;
Second: If additional monies are needed to satisfy the Zone 3 Special Tax
Requirement after the first step has been completed, the Special Tax shall be
levied Proportionately on each Assessor's Parcel of Undeveloped Property in
Zone 3 at up to 100% of the Maximum Special Tax for Undeveloped Property;
Third: If additional monies are needed to satisfy the Zone 3 Special Tax
Requirement after the first two steps have been completed, then the levy of the
Special Tax on each Assessor's Parcel of Developed Property in Zone 3 whose
Maximum Special Tax is equal to the Backup Special Tax shall be increased
Proportionately from the Assigned Special Tax up to the Maximum Special
Tax for each such Assessor's Parcel.
Notwithstanding the above, the Council may in any Fiscal Year levy
Proportionately less than 100% of the Assigned Special Tax in step one
(above) when the Council no longer must levy a Special Tax in Zone 3
pursuant to steps two and three above, and (i) all authorized CFD No. 2003-01
(IA No. 1) Bonds have already been issued, or (ii) the Council has covenanted
that it will not issue any additional CFD No. 2003-01 (IA No. 1) Bonds
(except refunding bonds) to be supported by Special Taxes levied under this
Rate and Method of Apportionment.
EXEMPTIONS
1. ZONE 1
No Special Tax shall be levied on Public Property in Zone 1.
2. ZONE 2
No Special Tax shall be levied on Public Property in Zone 2. In addition, no
Special Tax shall be levied on Privately Owned Exempt Parking Property in
Zone 2. Furthermore, no Special Tax shall be levied on up to 10.56 Acres of
Privately Owned Specific Retail Property in Zone 2. Tax-exempt status will
be assigned by the CFD Administrator in the chronological order in which
property in Zone 2 becomes Privately Owned Specific Retail Property.
If the total number of Acres of Privately Owned Specific Retail Property
exceeds the amount stated above, then the Acres exceeding such total shall be
taxed at the applicable rates for Developed Property for Zone 2 as set forth in
Section C above and to the extent set forth in Section D above.
3. ZONE 3
No Special Tax shall be levied on Public Property in Zone 3.
Resolution No. 09-117 —Page 9 of 10
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