HomeMy WebLinkAbout92-076 - Resolutions RESOLIYI~ONNO. 92-076
A RESOIJ3TION OF THE CITY COUNCIL OF THE CITY OF RANCHO
~NGA, CALIFORNIA, AUTHORIZING PR~.TMINARY ISSUANCE
OF BONDS OF A COMMUNITY FACILITIES DISTRICT
WHEREAS, the City Council of the City of Rancho Cucamonga (herein-
after referred to as the "legislative body of the local Agency") ba-~ hereto-
fore undertaken proceedings and declared the necessity to issue bonds on
behalf of a C~L~unity Facilities District pursuant to the terms and provisions
of the '94ello-Roos Co~Lunity Facilities Act of 1982", being Chapter 2.5,
Part 1, Division 2, Title 5 of the Government Code of the State of
California. Said Co~nity Facilities District is designated and known as
COMMUNITY FACILITIES DISTRICT NO. 91-1 (VICTORIA ~) (hereinafter
referred to as the "District"); and
WHEREAS, pursuant to law an election was held and the follc~ing
propositions attached as Exhibit "A" hereto were approved by more than 2/3's
of the voters voting at said election; and
WHEREAS, this legislative body now desires to preliminarily authorize
the issuance of such special tax bonds and to authorize the initiation of
judicial validation proceedings.
NOW, THEREFORE, the City Council of the City of Rancho Cucamonga does
hereby resolve as follows:
S~I~ION 1: That the above recitals are all true and correct.
SECTION 2: That the legislative body hereby authorizes the issuance
of all special tax bonds of Co~,,~unity Facilities District No. 91-1 (Victoria
Co~u.~nity). The exact terms and conditions of the issuance of such special
tax bonds shall be subject to the provisions of the '~4ello-Roos Co~.L,unity
Facilities Act of 1982", as amended, and such further Resolution or
Resolutions of Issuance as shall be adopted by this legislative body.
SECTION 3: That Brown, Diven & Hentschke, Bond Counsel, is hereby
authorized and directed to forthwith file and prosecute to final judgement, an
action pursuant to Goverim~nt Code Section 53359 and Code of Civil Procedure
Section 860, et seq., to validate proceedings pertaining to the formation of
the District, the levy of authorized special taxes within said District, the
issuance of the special tax bonds as authorized herein.
PASSED, APPROVED, and ADOPTEDthis 18thday of March, 1992.
AYES: Alexander, Buquet, Stout, Williams
NOES: None
ABSENT: Wright
Resolution No. 92-076
Page 2
Dennis L. Stout, Mayor
Debra J. City Clerk
I, DEBRA J. ADAMS, CITY cL~K of the City of Rancho Cucamonga,
California, do hereby certify that the foregoing R~solution 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 18th day of
March, 1992.
Executed this 19th day of March, 1992, at Rancho Cucamonga,
California.
Debra J. Ad_~m~, City Clerk
Resolution No. 92-076
Page 3
EXHIBIT A
OFFICIAL BALLOT
COMMUNITY FACILITIES DISTRICT NO. 91-1
(VICTORIA COMMUNITY)
OF
CITY OF RANCHO CUCAMONGA
SPECIAL BOND, SPECIAL TAX
AND APPROPRIATIONS LIMIT ELECTION
March 3, 1992
You are entitled to cast votes.
To vote, stamp a cross (+) in the voting square after
the word "YES" or after the word "NO". All marks otherwise
made are forbidden. All distinguishing marks are forbidden and
make the ballot void.
If you wrongly mark, tear, or deface this ballot,
return it to the City Clerk and obtain another.
PROPOSITION NO. A: Shall Community
Facilities District No. 91-1 (Victoria
Community) of the City of Rancho Cucamonga (the
"District") incur an indebtedness and issue
bonds in the maximum aggregate principal
amount of $55,000,000, with interest at a rate
or rates not to exceed the maximum interest
rate permitted by law, the proceeds of which
will be used to finance the construction,
purchase, modification, expansion, improvement
or rehabilitation of public facilities to be
owned, operated and maintained by either the
City of Rancho Cucamonga or other appropriate
public agencies (collectively, the
"Facilities"), as provided in Resolution
No. 91-277 of the City Council of the
City of Rancho Cucamonga, and shall YES
a special tax with a rate and rate
and method of apportionment as provided NO
in the Resolution of the City Council
7861u/2683/002 A-1
Resolution No. 92-076
Page 4
of the City of RanCho Cucamonga establishing
the District, adopted on November 6, 1991 be
levied to pay for the Facilities, for the
creation or replenishment of any necessary ~
reserve funds, for any incidental expenses of
the District, any expenses associated with the
Facilities or the bonds, and for the payment of
the principal of and interest on such bonds?
PROPOSITION NO. B: For each year
commencing with fiscal year 1991/92, shall
the appropriations limit, as defined by
subdivision (h) of Section 8 of Article XIII B ¥E$
of the California Constitution, for Community
Facilities District No. 91-1 (Victoria
Community) of the City of Rancho Cucamonga NO
be an amount equal to $55,000,000.00?
7861u/2683/002 A-2