HomeMy WebLinkAbout13-135 - Resolutions RESOLUTION NO. 13-135
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
RANCHO CUCAMONGA, CALIFORNIA, RE-ESTABLISHING
ANNUAL SPECIAL TAX FOR COMMUNITY FACILITIES DISTRICT
NO.2000-02(RANCHO CUCAMONGA CORPORATE PARK)FOR
FISCAL YEAR 2013/2014
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. 2000-02
(RANCHO CUCAMONGA CORPORATE PARK)
(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 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.
Resolution No. 13-135 Page I of 7
C. Payment of costs and expenses of authorized public facilities and public services,and
incidental expenses pursuant to the Act.
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 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. 13-135 Page 2 of 7
PASSED, APPROVED, AND ADOPTED this 7h day of August 2013.
AYES: Alexander, Michael, Spagnolo, Steinorth, Williams
NOES: None
ABSENT: None
ABSTAINED: None
t
L. ennis ichael, Mayor
ATTEST:
,/ J ice C. Reynolds, City Clerk
�
/ 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 7`h day of
August 2013.
Executed this 8"day of August 2013, at Rancho Cucamonga, California.
2� /'— V��
Ace C. Reynold ,
city Cler
Resolution No. 13-135 Page 3 of 7
CITY OF RANCHO CUCAMONGA
MELLO-ROOS COMMUNITY
FACILITIES DISTRICT NO. 2000-02
RANCHO CUCAMONGA CORPORATE PARK
ANNUAL STATUS REPORT
JULY 2013
Resolution No. 13-135 Page 4 of 7
BACKGROUND
On November 7, 2000, the electors within the boundary of Community Facilities District No.2000-02
(Rancho Cucamonga Corporate Park) authorized the District to incur bonded indebtedness in the
principal amount of$6,835,000 for the purpose of financing the acquisition of street improvements
on public street improvements required as a condition of approval of development of the property
within the proposed district including Milliken Avenue, Arrow Route and Foothill Boulevard; such
street improvements to include but not to be limited to: demolition and grading, curb, gutter and
sidewalks, traffic signals; entry feature and signs; fire hydrants; storm drains; water and sewer
improvements; paving; striping; landscaping and irrigation improvements; public utilities and
appurtenances.
On December 7, 2011 the City Council adopted Resolution No. 11-179 authorizing the issuance of
special tax refunding bonds for this District. The Special Tax Refunding Bonds, Series 2011 in the
principal amount of $5,407,000 were issued on December 21, 2011.
Each July 1, commencing July 1, 2012 the Maximum Annual Special Tax will be increased by two
percent(2%)of the amount in effect for the previous fiscal year. The Special Taxes will be levied as
follows: (1) The Special Tax will be levied on each Taxable Parcel in an amount equal to 100% of
the applicable Maximum Annual Special Tax; or(2) If the Special Tax Requirement will be satisfied
by an amount less than the Maximum Annual Special Tax the Special Tax will be levied
proportionately on each Taxable Parcel at less than 100% of the Maximum Annual Special Tax.
Therefore, for FY 2013/2014 the current rate is sufficient to meet fiscal obligations and there is no
need for an increase of the special tax by 2%. This special tax shall be levied only so long as
required for each parcel of taxable property to discharge bond obligations through fiscal year 2024-
2025.
FISCAL YEAR 2013-2014
The annual tax rate for fiscal year 2013-2014 will be $3,980.10 per acre, and will provide sufficient
funding for maintenance and operations in the amount of $537,472.00.
Resolution No. 13-135 Page 5 of 7
COMMUNITY FACILITIES DISTRICT
PROPOSED USES AND SOURCES OF FUNDS
USES:
DEBT SERVICE $475,540.00
CITY AND TRUSTEE ADMINISTRATION, $ 57,470.00
GENERAL OVERHEAD & LIABILITY
CONTRACT SERVICES $ 1,500.00
CAPITAL PROJECT $ 0.00
$534,510.00
SOURCES:
INTEREST REVENUE $ 3,840.00
DELINQUENT TAXES $ 3,300.00
TRANSFER IN FROM FUND BALANCE $ 11,910.00
SPECIAL TAX $515,760.00
$534,510.00
$4,059.60 PER ACRE
Resolution No. 13-135 Page 6 of 7
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