HomeMy WebLinkAbout10-113 - Resolutions RESOLUTION NO. 10-113
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
RANCHO CUCAMONGA, CALIFORNIA, RE-ESTABLISHING
ANNUAL SPECIAL TAX FOR COMMUNITY FACILITIES
DISTRICT 2001-01 FOR FISCAL YEAR 2010-2011
(IMPROVEMENT AREA NOS. 1 & 2), SERIES 2001-A
Recitals
WHEREAS, by its Resolution No. 01-162, adopted on June 20, 2001, 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.
2001-01 (the "District') and established within the District improvement areas designated
Improvement Area No. 1 and Improvement Area No. 2 (the "Improvement Areas'); and
WHEREAS, at an election held on June 20, 2001, the qualified electors of the
Improvement Area No. 1 and Improvement Area No. 2 unanimously approved the levy of a
special tax against properties in the Improvement Areas (the "Special Tax'); and
WHEREAS, by its Ordinance No. 658 (the "Ordinance"), adopted on July 18, 2001, the
City Council authorized the levy of the Special Tax in accordance with the Act; and
WHEREAS, on September 18, 2001, the District delivered its $14,240,000 City of
Rancho Cucamonga Community Facilities District No. 2001-01 Improvement Area No. 1 and
Improvement Area No. 2 Special Tax Bonds Series 2001-A (the "Bonds"); and
WHEREAS, in a Fiscal Agent Agreement dated as of August 1, 2001, 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 and Improvement Area No. 2 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, debt service will become due and payable on the Bonds during Fiscal Year
2010-2011 in an amount exceeding funds held by the Fiscal Agent and designated for the
payment for such debt service; and
WHEREAS, the City Council intends to levy the Special Tax for Fiscal Year 2010-2011
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 2010-2011 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 2010-2011 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
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 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 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. 10-113 - Page 2 of 10
PASSED, APPROVED, AND ADOPTED this 7'h day of July 2010.
AYES: Gutierrez, Kurth, Michael, Spagnolo, Williams
NOES: None
ABSENT: None
ABSTAINED: None
l
Donald J. Kurth, M.D., Mayor
ATTEST:
f C
ice C. Reynolds, City Oerk
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 7th day of July 2010.
Executed this 8 1 day of July 2010, at Rancho Cucamonga, California.
.- f
1#ice C. Reynolds, City elerk
Resolution No. 10-113 - Page 3 of 10
CITY OF RANCHO CUCAMONGA
MELLO-ROOS COMMUNITY
FACILITIES DISTRICT NO. 2001-01
IMPROVEMENT AREA No. I AND No. 2
SPECIAL TAX BONDS, SERIES 2001-A
ANNUALSTATUSREPORT
JULY 2010
Resolution No. 10-113- Page 4 of 10
BACKGROUND
On June 20, 2001, the electors within the boundary of Community Facilities District
No. 2001-01 (Improvement Area No. 1 and Improvement Area No. 2) authorized the
District to incur bonded indebtedness in the principal amount of$15,000,000 for the
purpose of financing the acquisition and construction of the facilities which consist of
Day Creek Boulevard, Victoria Park Lane, Church Street, foothill Boulevard, Base
Line Road and Arbor Way, storm drain and flood control facilities and water and
sewer improvements to be owned and operated by Cucamonga Valley Water District
(CVWD). The District is generally bordered on the north by Base Line Road, on the
west by the Day Creek Flood Control Channel from Arrow Route to Foothill
Boulevard and by the Southern California Edison .right-of-way from Foothill
Boulevard to Base Line Road, on the south by Interstate 15 and on the east by
Etiwanda Avenue.
Each Fiscal Year, all Taxable Property within Improvement Area No. 1 and
Improvement Area No. 2 shall be classified as Developed Property, Final Mapped
Property, Taxable Property Owner Association Property, Taxable Public Property, or
Undeveloped Property, and all such Taxable Property shall be subject to the levy of
Special Taxes in accordance with the rate and method of apportionment pursuant to the
sections below.
Resolution No. 10-113 - Page 5 of 10
FISCAL YEAR 2010-2011
CFD 2001-01 IMPROVEMENT AREA No. 1
LAND
USE RESIDENTIAL
CLASS DESCRIPTION FLOOR AREA ASSIGNED SPECIAL TAX
_> 3,250 SQUARE $2,100 PER RESIDENTIAL
1 SINGLE FAMILY PROPERTY FEET DWELLING UNIT
2,950 TO 3,249 $1,684 PER RESIDENTIAL
2 SINGLE FAMILY PROPERTY SQUARE FEET DWELLING UNIT
2,650 TO 2,949 $1,515 PER RESIDENTIAL
3 SINGLE FAMILY PROPERTY SQUARE FEET DWELLING UNIT
2,350 TO 2,649 $1,301 PER RESIDENTIAL
4 SINGLE FAMILY PROPERTY SQUARE FEET DWELLING UNIT
2,150 TO 2,349 $1,217 PER RESIDENTIAL
5 SINGLE FAMILY PROPERTY SQUARE FEET DWELLING UNIT
1,950 TO 2,149 $1,119 PER RESIDENTIAL
6 SINGLE FAMILY PROPERTY SQUARE FEET DWELLING UNIT
< 1,950 SQUARE $938 PER RESIDENTIAL
7 SINGLE FAMILY PROPERTY FEET DWELLING UNIT
$237 PER RESIDENTIAL
8 APARTMENT PROPERTY NOT APPLICABLE DWELLING UNIT
NON-RESIDENTIAL
9 PROPERTY NOT APPLICABLE $8,398 PER ACRE
INTERMEDIATE SPECIAL TAX FOR FINAL MAPPED
PROPERTY
RESIDENTIAL INTERMEDIATE
DESCRIPTION FLOOR AREA MAXIMUM SPECIAL TAX
NOT
RESIDENTIAL PROPERTY APPLICABLE $10,768 PER ACRE
NOT
NON-RESIDENTIAL PROPERTY APPLICABLE $10,768 PER ACRE
CFD 2001-01 IMPROVEMENT AREA No. 2
LAND
USE
CLASS DESCRIPTION ASSIGNED SPECIAL TAX
$237.00 PER DWELLING
1 APARTMENT PROPERTY UNIT
OTHER RESIDENTIAL
2 PROPERTY $10,768 PER ACRE
$0.63 PER SQ. FT. OF NON-
RESIDENTIAL FLOOR
3 NON-RESIDENTIAL PROPERTY AREA
Resolution No. 10-113 - Page 6 of 10
COMMUNITY FACILITIES DISTRICT
PROPOSED USES AND SOURCES OF FUNDS
USES:
DEBT SERVICE
$1,131,290.00
CITY AND TRUSTEE ADMINISTRATION, $
51,750.00
GENERAL OVERHEAD & LIABILITY
CONTRACT SERVICES $
1,500.00
DELINQUENT ASSESSMENTS
0.00
$1,184,540.
00
SOURCES:
INTEREST REVENUE $
1,180.00
OTHER REVENUE $
50,000.00
DELINQUENT TAXES $
13,870.00
SPECIAL TAX
$1,140,960.00
Resolution No. 10-113 - Page 7 of 10
$1,206,010.00
Resolution No. 10-113- Page 8 of 10
COMMUNITY FACILITIES DISTRICT
PROPOSED USES AND SOURCES OF FUNDS
USES:
DEBT SERVICE $1,131,290.00
CITY AND TRUSTEE ADMINISTRATION, $ 51,750.00
GENERAL OVERHEAD & LIABILITY
CONTRACT SERVICES $ 1,500.00
$1,184,540.00
SOURCES:
INTEREST REVENUE $ 1,180.00
OTHER REVENUE $ 50,000.00
DELINQUENT TAXES $ 13,870.00
SPECIAL TAX $1,140,960.00
$1,206,010.00.
Resolution No. 10.113- Page 9 of 10
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