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HomeMy WebLinkAbout89-262 - Resolutions RESOLUTION NO. 89-262 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO CUCAMONGA, CALIFORNIA, DECLARING NECESSITY TO INCUR A BONDED INDEBTEDNESS, SUBMITTING TO THE QUALIFIED VOTERS OF A COMMUNITY FACILITIES DISTRICT THE PROPOSITION TO INCUR A BONDED INDEBTEDNESS SECURED BY A SPECIAL TAX LEVY TO PAY FOR CERTAIN CAPITAL FACILITIES IN A COMMUNITY FACILITIES DISTRICT AND GIVING NOTICE THEREON, AND ESTABLISHING PROCEDURES AND CONDITIONS FOR CONDUCTING AN ELECTION WHEREAS, the CITY COUNCIL of the CITY OF RANCHO CUCAMONGA, CALIFORNIA, (hereinafter referred to as the "legislative body of the local Agency"), has previously declared its intention and held and conducted a public hearing relating to the issuance of bonds to be secured by special taxes to pay for certain public capital facilities in a community facilities district, as authorized pursuant to the terms and provisions of the "Mello-Roos Community Facilities Act of 1982", being Chapter 2.5, Part l, Division 2, Title 5 of the Government Code of the State of California, said Community Facilities District shall hereinafter be referred to as COMMUNITY FACILITIES DISTRICT NO. 88-2 (hereinafter referred to as the "District"); and, WHEREAS, at this time this legislative body is desirous to proceed to make the necessary findings to incur the bonded indebtedness, to declare the purpose for said debt, and to authorize the submittal of a combined proposition to the voters of said District, being the landowners of the proposed District, all as authorized and required by law; and, WHEREAS, a special election is to be held in the City of Rancho Cucamonga, California, (hereinafter referred to as the "local Agency"), at which time there will be submitted to the qualified electors of said District certain propositions relating to the authorization to levy a special tax and the incurring of a bonded indebtedness in order to pay for certain capital facilities in said District, pursuant to the provisions of the "Mello-Roos Community Facilities Act of 1982", as~eferenced above. NOW, THEREFORE, the City Council of the City of Rancho Cucamonga does hereby resolve as follows: RECITALS SECTION 1. That the above recitals are all true and correct. NECESSITY FOR BOND ISSU~ SECTION 2. That this legislative body hereby expressly declares and states that it is necessary to incur a bonded indebtedness as authorized under the terms and provisions of the "Mello-Roos Community Facilities Act of 1982", in order to finance the below described public capital facilities. Resolution No. 89-262 Page 2 PURPOSE OF ISSUR SECTION 3. That the purpose for the proposed bonded indebtedness and facilities proposed to be financed through the issuance of said bonds, is generally described as follows: To finance the construction, installation and acquisition of certain drainage and flood control facilities, together with appurtenances and appurtenant work, including acquisition where necessary. For further particulars, reference is made to the file entitled "CITY OF RANCHO CUCAMONGA, COMMUNITY FACILITIES DISTRICT NO. 88-2, DESCRIPTION OF FACILITIES", a copy of which is on file in the Office of the City Clerk. For all particulars, reference is made to said approved file. BOUNDARIES OF DISTRICT SECTION 4. That the whole of the District will pay for the above referenced bonded indebtedness. A general description of the District is as follows: Ail property within the boundaries of COMMUNITY FACILITIES DISTRICT NO. 88-2, as shown on a map as previously approved by this legislative body, said map designated by the name of this Community Facilities District, a copy of which is on file in the office of the City Clerk. BOND AMOUNT SECTION 5. That the amount of the proposed bonded indebtedness, including the cost of the facilities, together with all incidental expenses, is generally as follows: SAID PROJECT FACILITIES, INCLUDING INCIDENTAL EXPENSES, SHALL NOT EXCEED $4,000,000.00. For further particulars, reference is made to the "COMMUNITY FACILITIES DISTRICT REPORT", as on file in the Office of the City Clerk. BOND TERMS SECTION 6. That it is hereby further determined that bonds shall be issued, and the maximum term of bonds and/or any series shall not exceed forty (40) years, and said bonds may be issued in differing series, at differing times. The maximum rate of interest to be paid on said bonds shall not exceed the greater of either twelve percent (12%) per annum or the maximum rate permitted by law at the time of sale of any of said bonds. The bonds, except where other funds are made available, shall be paid exclusively from the annual levy of the special tax, and are not secured by any other taxing power or funds of the Community Facilities District or the City. Resolution No. 89-262 Page 3 ELECTION SECTION 7. The proposition related to the incurring of the bonded indebtedness shall be consolidated with the proposition relating to the levy of the special tax, shall be combined into one ballot proposition, and shall be submitted to the qualified voters at a special election to be held on the 27TH DAY OF JUNE, 1989, and said election shall be a special mailed ballot election to be conducted by the City Clerk (hereinafter referred to as the "Election Official"). If the combined proposition for the levy of the special tax and the incurring of the bonded indebtedness receive the approval of more than two- thirds (2/3) of the votes cast on the proposition, bonds may be authorized, issued and sold for the purposes set forth herein and the special tax may be levied as provided for in the Resolution of Formation. BALLOT SECTION 8. That the ballot proposal to be submitted to the qualified voters at the election shall generally be as follows: PROPOSITION A Shall community Facilities District No. 88-2, City of Rancho Cucamonga, be authorized to 1) incur a bonded indebtedness in an amount not to exceed $4,000,000.00, to be paid by special taxes as established by the District, with interest rates not exceeding the maximum authorized by law at the time of issuance, to finance construction, acquisition and installation of certain drainage and flood control facilities, together with appurtenances and appurtenant work, including acquisition where necessary, 2) to levy special taxes to pay for said facilities and additional police protection services and/or any authorized and issued bonded indebtedness, and 3) establish an Article XIIIB appropriations limit equal to the maximum authorized special taxes which may be levied in any fiscal year? YES NO EXISTING TAX RATE AND APPORTIONMENT The existing tax rate and apportionment for the tax categories identified below, as previously approved for Community Facilities District No. 88-2 are as follows: SPECIAL TAX "A" - PUBLIC FACILITIES PROPERTY CATEGORIES There are two categories of property subject to the levy of Special Tax "A", which are identified as follows: Resolution No. 89-262 Page 4 1. DEVELOPED PROPERTY Ail property identified as a single Tax Assessor's parcel for which property a building permit has been issued as of May 31 of any year. 2. UNDEVELOPED PROPERTY All other property, excluding property which, as of the date of the election to authorize the levy of Special Tax "A", is: (i) owned by a public entity; (ii) owned by a regulated public utility and being utilized for transmission or distribution purposes; or (iii) zoned as open space. TAXING CLASSIFICATIONS AND MAXIMUM SPECIAL TAX "A" RATES The taxing classifications for the above Property Categories and the maximum authorized Special Tax "A" rates for fiscal year 1989-90 are as follows: TAXING CLASSIFICATION MAXIMUM TAX RATE 1. DEVELOPED PROPERTY A. Residential Class I $ 1,037 per year (More than, 3,590 square feet of dwelling unit living area)* B. Residential Class II $ 768 per year (3,077-3,589 square feet of dwelling unit living area)* C. Residential Class III $ 576 per year (2,564-3,076 square feet of dwelling unit ~ - living area)* D. Residential Class IV $ 461 per year (2,308-2,563 square feet of dwelling unit living area)* E. Residential Class V $ 384 per year (2,051-2,307 square feet of dwelling unit living area)* F. Residential Class VI $ 269 per year (Less than 2,051 square feet of dwelling unit living area)* G. Commercial or industrial $ 2,030 per acre per year ** Resolution No. 89-262 Page 5 2. UNDEVELOPED PROPERTY Ail Undeveloped Property $ 2,400 per acre per year *** * The square footage of dwelling unit living area shall mean the square footage of internal living space, exclusive of garages and other structures not used as living space, as shown on the building permit(s) issued for the dwelling unit. ** The acreage of a commercial or industrial property shall mean the gross acreage exclusive of any acreage dedicated or offered for dedication to a public agency. *** The acreage of an Undeveloped Property shall be the gross acreage exclusive of any acreage dedicated or offered for dedication to a public agency. SPECIAL TAX "B" - ADDITIONAL POLICE SERVICES All Developed Property shall be subject to the levy of Special Tax "B" The maximum authorized Special Tax "B" rates for fiscal year 1989-90 are as follows: TAXING CLASSIFICATION MAXIMUM TAX RATE 1. DEVELOPED PROPERTY A. Residential Class I $ 432 per year (More than, 3,590 square feet of dwelling unit living area)* B. Residential Class II $ 320 per year (3,077-3,589 square feet of dwelling unit living area)* C. Residential Class III $ 240 per year (2,564-3,076 square feet of dwelling unit living area)* D. Residential Class IV $ 192 per year (2,308-2,563 square feet of dwelling unit living area)* E. Residential Class V $ 160 per year (2,051-2,307 square feet of dwelling unit living area)* Resolution No. 89-262 Page 6 F. Residential Class VI $ 112 per year (Less than 2,051 square feet of dwelling unit living area)* G. Commercial or industrial $ 1,000 per acre per year ** The maximum annual Special Tax "B" rates shall be subject to escalation each July 1 commencing July l, 1990, at a rate not to exceed four percent (4%) per year. Special Tax "B" shall be levied annually so long as Special Tax "B" Revenues are necessary to pay for additional police services necessary to serve the properties located within the District. VOTE SECTION 9. That the appropriate mark placed in the voting square after the word "YES" shall be counted in favor of the adoption of the proposition, and the appropriate mark placed in the voting square after the word "NO" in the manner as authorized, shall be counted against the adoption of said proposition. ELECTION PROCEDURE SECTION 10. The Election Official is hereby authorized to take any and all steps necessary for the holding of said election. Said Election Official shall perform and render all services and proceedings incidental to and connected with the conduct of said election, and said services shall include, but not be limited to the following: 1. Prepare and furnish to the election officers necessary election supplies for the conduct of the election. 2. Cause to be printed the requisite number of official ballots, tally sheets and other necessary forms. 3. Furnish and address to mail official ballots to the qualified electors of the Community Facilities District. 4. Cause the official ballots to be mailed, as required by law. 5. Receive the returns of the election and supplies. 6. Sort and assemble the election material and supplies in preparation for the canvassing of the returns. 7. Canvass the returns of the election. 8. Furnish a tabulation of the number of votes given in the election. 9. Make all arrangements and take the necessary steps to pay all costs of the election incurred as result of services performed by the District and pay costs and expenses of all election officials. Resolution No. 89-262 Page 7 10. Conduct and handle all other matters relating to the proceedings and conduct of the election in the manner and form as required by law. PASSED, APPROVED, and ADOPTED this 21st day of June, 1989. AYES: Alexander, Brown, Buquet, Stout, Wright NOES: None ABSENT: None ~i~~~~.~ Dennis L. Stout, Mayor ATTEST: I, BEVERLY A. AUTHELET, 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 21st day of June, 1989. Executed this 22nd day of June, 1989 at Rancho Cucamonga, California.