HomeMy WebLinkAbout00-107 - Resolutions RESOLUTION NO. 00-107
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
RANCHO CUCAMONGA, CALIFORNIA, RE-ESTABLISHING
ANNUAL SPECIAL TAX FOR COMMUNITY FACILITIES DISTRICT
NO. 93-3 (FOOTHILL MARKETPLACE)
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. 93-3
(FOOTHILL MARKETPLACE)
(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 2000-2001 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.
Resolution No. 00-107
Page 2 of 7
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,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
ordinaryad 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.
Resolution No. 00-107
Page 3 of 7
PASSED, APPROVED, AND ADOPTED this 7`h day of June 2000.
AYES: Alexander, Biane, Curatalo, Dutton, Williams
NOES: None
ABSENT: None
ABSTAINED: None
t
cfG
William J. exander, ayor
ATTEST:
DI-bra J. Ada CMC, City Clerk
I, DEBRA J.ADAMS,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 June 2000.
Executed this 81h day of June 2000, at Rancho Cucamonga, California.
AO,�0 -4&,� �/
ebra J. AdaW, CMC, City Clerk
Resolution No. 00-107
Page 4 of 7
CITY OF RANCHO CUCAMONGA
MELLO-ROOS COMMUNITY
FACILITIES DISTRICT NO. 93-3
FOOTHILL MARKETPLACE
ANNUAL STATUS REPORT
JUNE 2000
Resolution No. 00-107
Page 5 of 7
BACKGROUND
On December 15, 1993, the electors within the boundary of Community Facilities District No. 93-3
(Foothill Marketplace)authorized the District to incur bonded indebtedness in the principal amount of
$4,825,000 for the purpose of financing the acquisition of the street, storm drain, sewer and water
improvements. The district is bounded on the north by Foothill Blvd., on the east by Etiwanda Ave.
and on the west by Interstate 15.
The maximum rate has been set at$20,000 per acre. This amount can be levied at a lower rate but
cannot exceed the maximum tax rate as set. On July 1, 1999 this district was refunded as part of
Rancho Cucamonga Reassessment District No. 1999-1 under the Rancho Cucamonga Public
Finance Authority(the"Authority"). The Authority issued bonds to acquire the Acquired Obligations,
fund separate reserve funds and pay the costs of issuing the Bonds. The acquired obligations for
Community Facilities District 93-3 is the aggregate principal amount of$4,525,000.
FISCAL YEAR 2000-2001
The annual tax rate of$14,369 for fiscal year 2000-2001 will provide sufficient funding to pay debt
service in the amount of $356,500.
Resolution No. 00-107
Page 6 of 7
COMMUNITY FACILITIES DISTRICT
PROPOSED USES AND SOURCES OF FUNDS
USES:
DEBT SERVICE $356,500
ADMINISTRATION, GENERAL OVERHEAD $ 35,730
& LIABILITY
CONTRACT SERVICES $ 0
DELINQUENT ASSESSMENTS $ 0
$392,230
SOURCES:
DELINQUENT ASSESSMENTS $ 0
INTEREST REVENUE $ 20,000
SPECIAL TAX $423,870
$443,870
$14,369 PER ACRE
Community Facilities District 93-3
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