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Home My WebLink About13-131 - Resolutions RESOLUTION NO. 13-131 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 rate and amount of the special tax to be collected to pay for the costs and expenses for the next fiscal year 2013-2014 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 are 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. Resolution No. 13-131 Page I of 7 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. 13-131 Page 2 of 7 PASSED, APPROVED, AND ADOPTED this 7`h day of August 2013. AYES: Alexander, Michael, Spagnolo, Steinorth, Williams NOES: None ABSENT: None ABSTAINED: None L. ennis Michael, Mayor ATTEST: Jat. Jan e CReynoldsCit , e Clerk 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 August 2013. Executed this 8`h day of August 2013, at Rancho Cucamonga, California. Jit C. Reynolds, Ci C erk Resolution No. 13-131 Page 3 of 7 CITY OF RANCHO CUCAMONGA MELLO-ROOS COMMUNITY FACILITIES DISTRICT NO. 88-2 DRAINAGE AND LAW ENFORCEMENT ANNUAL STATUS REPORT JULY 2013 Resolution No. 13-131 Page 4 of 7 BACKGROUND On June 21, 1989, the City Council approved the formation of Community Facilities District No.88-2 for Drainage Capital Facilities and Law Enforcement services. On June 27, 1989 the electors within the boundaries of the District authorized the District to incur bonded indebtedness in the principal amount of not to exceed $4,000,000 to finance certain public improvements to meet the needs of the new development, and approved the Special Tax Formula and levy of a Special Tax to pay principal and interest on the Bonds, pay directly for the facilities, pay administrative expenses and law enforcement operations and maintenance of the District and make any replenishment to the Reserve Fund. On April 7, 1994, City Council approved Resolution No. 94-058,authorizing the issuance of bonds in the principal amount of$2,920,000. On June 3, 1999, City Council adopted Resolution No. 99-127 authorizing the refunding of special tax bonds for this District. The refunding bonds were issued in July 1999 in the amount of$2,705,000. The special tax was set at 91%of the maximum rate when the district was formed for the developed property. However,the authorized bond refunding adjusted the rate to 78% of the maximum special tax for the developed and undeveloped property. The collections from the annual levy will be used to pay debt service through the life of the bonds and also fund law enforcement operations and maintenance. The District's boundary is west of San Sevaine Road, east of Wardman Bullock Road, north of Hoppe Drive,and south of San Bernardino National Forest. FISCAL YEAR 2013-2014 There is no increase for fiscal year 2013-2014 from the prior year. The current rates will provide sufficient funding to pay for operations and maintenance in the amount of $255,320. Resolution No. 13-131 Page 5 of 7 COMMUNITY FACILITIES DISTRICT PROPOSED USES AND SOURCES OF FUNDS USES: DEBT SERVICE $233,510.00 CITY AND TRUSTEE ADMINISTRATION, $ 21,110.00 GENERAL OVERHEAD & LIABILITY CONTRACT SERVICES $ 0.00 TRANSFER OUT TO CFD-2 POLICE $ 700.00 DELINQUENT ASSESSMENTS $ 0.00 $255,320.00 SOURCES: INTEREST REVENUE $ 17,330.00 DELINQUENT TAXES $ 2,200.00 TRANSFER IN FROM FUND BALANCE $ 0.00 SPECIAL TAX $272,190.00 $291,720.00 Resolution No. 13-131 Page 6 of 7 Q -a CU > Q Community Facilities District 88-2 t 75 V) Q O C R1 L > UCAMunoa �••� j U 2 Q 2 U 1 1.._.._.._.._.._.._.._.._.._._.._.._.._.._.._.._.._.._..... r_.._.._.._ _.._.._.._....._.._ 1 00 ••> Hillside Rd ". • U 1-- ----- _ i ! cu' Wilson Av Banyan St CD ea i O l I �. 19th St w Base Line Rd r r _L _ Base Line Rd > � � •jam— �==i=�J�- -----; � 00 —-- --------._.. - --- _. --- -- i i U � Foothill BI '� :_ -- -.__-- _ .-.-- �__---- '�} _- _�_----,_--; Foothill BI Arrow Rt i----- - --- 1 Arrow Rt stn St ea_.._.._.._............... — - Legend Q Q •`• � a, ! ,�,��•• City Limits 0 CU � � � i w K CFD88-2 4th Stl s_.._.:_.._..:.._.._.:_---••—•--.._:._.._..—• —•--••—.._.._..14th St Q Q Q Q ¢ Q Q The mops.dela,and pogra0d btxmallon 1"hbrmeuon"I ayataea by and N-gtl O 'O (U C �— (U ew cty of R,M,Cursmonge are preaengd ae a p the 11—de of gane,11 nbrm - me C w R—h. —p—kaa n.r.npw..no wanamy,r.p.xnauon ar,a,d—ea O > Y a b lfte dont",aµnnoe,awaacy,oomptat.—ar imeMesa of any Int—anon _ C ._ Ma tiled b you Mlan, TM um mould lotrery upon IM Inannatwn br am reason — C �� _ entl 1.dredbd to l—pendently—ty any and all IMolmadon preanlee Mrem. 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