HomeMy WebLinkAbout97-084 - ResolutionsRESOLUTION NO. 97-084
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 headng, 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 Distdct 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 1997-98 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:
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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 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
pedod, 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.
PASSED, APPROVED, AND ADOPTED this 18th day of June, 1997.
Alexander, Biane, Curatalo, Williams
AYES:
NOES: None
ABSENT: Gutierrez
ABSTAINED: None
William J. AITnder, Mayor
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ATTEST:
Debra J. Adarb~, 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 18th
day of June, 1997.
Executed this 19th day of June, 1997, at Rancho Cucamonga, California.
Debra J. Adams, CMC, City Clerk
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CITY OF RANCHO .CUCAMONGA
MELLO-ROOS COMMUNITY
FACILITIES DISTRICT NO. 93-3
FOOTHILL MARKETPLACE
ANNUAL STATUS REPORT
JUNE 1997
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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 princip, al 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 Eriwanda 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.
FISCAL YEAR 1996/97
The first annual tax rate of $14,670 for fiscal year 1997/98 will provide
sufficient funding to pay debt service in the amount of $398,000.
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COMMUNITY FACILITIES DISTRICT
PROPOSED USES AND SOURCES OF FUNDS
USES:
DEBT SERVICE
ADMINISTRATION, GENERAL
& LIABILITY
CONTRACT SERVICES
DELINQUENT ASSESSMENTS
OVERHEAD
$392,710
$ 35,180
$ 1,000
$ o
$428,890
SOURCES:
DELINQUENT ASSESSMENTS
INTEREST REVENUE
SPECIAL TAX
$ 0
$ 8,65o
$432,500
$441,150
$14,670 PER ACRE
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