HomeMy WebLinkAbout05-191 - Resolutions RESOLUTION NO. 05-191
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
RANCHO CUCAMONGA, CALIFORNIA, RE-ESTABLISHING
ANNUAL SPECIAL TAX FOR COMMUNITY FACILITIES DISTRICT
NO. 2000-02 (RANCHO CUCAMONGA CORPORATE PARK)
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. 2000-02
(RANCHO CUCAMONGA CORPORATE PARK)
(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 2005-2006 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. 05-191
Page 2 of
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
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. 05-191
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PASSED, APPROVED, AND ADOPTED this 1s' day of June 2005.
AYES: Alexander, Gutierrez, Michael, Spagnolo, Williams
NOES: None
ABSENT: None
ABSTAINED: None
Will' 4J. Alender, ayor
ATTEST:
4Dbr a J. A tax, 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 151 day of June 2005.
Executed this 2nd day of June 2005, at Rancho Cucamonga, California.
ebra J. Ad s, CMC, City Clerk
Resolution No. 05-191
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CITY OF RANCHO CUCAMONGA
MELLO-ROOS COMMUNITY
FACILITIES DISTRICT NO. 2000-02
RANCHO CUCAMONGA CORPORATE PARK
ANNUALSTATUSREPORT
JUNE 2005
Resolution No. 05-191
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BACKGROUND
On November 7,2000,the electors within the boundary of Community Facilities District No.2000-
02(Rancho Cucamonga Corporate Park)authorized the District to incur bonded indebtedness in the
principal amount of$6,835,000 for the purpose of financing the acquisition of street improvements
on public street improvements required as a condition of approval of development of the property
within the proposed district including Milliken Avenue, Arrow Route Highway and Foothill
Boulevard; such street improvements to include but not to be limited to: demolition and grading,
curb, gutter and sidewalks, traffic signals; entry feature and signs; fire hydrants; storm drains;water
and sewer improvements;paving; striping; landscaping and irrigation improvements;public utilities
and appurtenances.
The district was approved setting the maximum rate at $3,896 per acre. However, on each July 1,
commencing July 1,2002 the Maximum Annual Special tax shall be increased by two percent(2%)
of the amount in effect for the previous fiscal year. This special tax shall be levied only so long as
required for each parcel of taxable property to discharge bond obligations through fiscal year 2035-
2036.
FISCAL YEAR 2005-2006
The annual tax rate for fiscal year 2005-2006 will be $4,054 per acre, and will provide sufficient
funding to pay debt service in the amount of$505,630.00.
Resolution No. 05-191
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COMMUNITY FACILITIES DISTRICT
PROPOSED USES AND SOURCES OF FUNDS
USES:
DEBT SERVICE $505,630
CITY AND TRUSTEE ADMINISTRATION,
GENERAL OVERHEAD & LIABILITY $ 48,500
CONTRACT SERVICES $ 1,500
DELINQUENT ASSESSMENTS $ 0
$555,630
SOURCES:
DELINQUENT ASSESSMENTS $ 0
INTEREST REVENUE $ 4,000
FUND BALANCE $ 19,550
SPECIAL TAX $532,080
$555,630
$3,974 PER ACRE