HomeMy WebLinkAbout13-141 - ResolutionsRESOLUTION NO. 13-141
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
RANCHO CUCAMONGA, CALIFORNIA, RE-ESTABLISHING
ANNUAL SPECIAL TAX FOR COMMUNITY FACILITIES
DISTRICT 2003-01 FOR FISCAL YEAR 2013/2014
(IMPROVEMENT AREA NO. 2 ZONES 1 & 2), SERIES 2003-B
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. 2003-01
(Improvement Area No. 2 Zones 1 & 2), Series 2003-B)
(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. 13-141 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 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. 13-141 Page 2 of 7
PASSED, APPROVED, AND ADOPTED this 7th day of August 2013.
AYES: Alexander, Michael, Spagnolo, Steinorth, Williams
NOES: None
ABSENT: None
ABSTAINED: None
ATTEST:
Ice C. Reynolds, Cit C erk
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" day of August 2013.
Executed this 81h day of August 2013, at Rancho Cucamonga, California.
N
Resolution No. 13-141 Page 3 of 7
CITY OF RANCHO CUCAMONGA
MELLO-ROOS COMMUNITY
FACILITIES DISTRICT NO. 2003-01
IMPROVEMENT AREA No. 2
SPECIAL TAX BONDS, SERIES 2003-B
ANNUAL STATUS REPORT
JULY 2013
Resolution No. 13-141 Page 4 of 7
BACKGROUND
On February 19, 2003, the electors within the boundary of Community Facilities District (CFD)
No. 2003-01, Improvement Area No. 2 (IA No. 2) authorized the District to incur bonded
indebtedness in the principal amount of $2,855,000 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) along with a cultural center owned by the City, including a
performing arts center, public library and banquet hall/meeting room. The District is generally
bordered on the north by Church Street, on the east by Interstate 15, on the south by Arrow
Route and on the west by the a Southern California Edison easement from Arrow Route to
Foothill Boulevard and by Day Creek Boulevard from Foothill Boulevard to Church Street.
Each Fiscal Year, all Taxable Property within Zone 1 and Zone 2 of CFD No. 2003-01
(IA No. 2) 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.
FISCAL YEAR 2013-2014
CFD2003-01
IMPROVEMENT AREA No. 2
ASSIGNED BACKUP NOTE
SPECIAL TAX SPECIAL TAX
ZONE 1 DEVELOPED Both Assigned and
PROPERTY $2,502.00/ACRE $3,172.00/ACRE Backup can increase
2% every year
ZONE 1
UNDEVELOPED $1,100.00/ACRE $3,172.00/ACRE Backup can increase
PROPERTY 2% every year
ZONE 2 DEVELOPED Both Assigned and
PROPERTY $7,578.00/ACRE $9,611.00/ACRE Backup can increase
2% every year
ZONE 2 Backup can increase
UNDEVELOPED $3,650.00/ACRE $9,611.00/ACRE 2% every year
PROPERTY
Resolution No. 13-141 Page 5 of 7
USES:
COMMUNITY FACILITIES DISTRICT
PROPOSED USES AND SOURCES OF FUNDS
DEBT SERVICE $202,960.00
CITY AND TRUSTEE ADMINISTRATION, $ 14,420.00
GENERAL OVERHEAD & LIABILITY
CONTRACT SERVICES $ 1,500.00
DELINQUENT ASSESSMENTS $ 0.00
$ 218,880.00
SOURCES:
INTEREST REVENUE $ 1,110.00
DELINQUENTTAXES $ 0.00
TRANSFER IN FROM FUND BALANCE $ 0.00
SPECIAL TAX $218,720.00
$219,830.00
Resolution No. 13-141 Page 6 of 7
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