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HomeMy WebLinkAbout89-320 - Resolutions RESOLUTION NO. 89-320 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO CUCAMONGA, CALIFORNIA, ESTABLISHING ANNUAL SPECIAL TAX FOR A COMMUNITY FACILITIES DISTRICT WHEREAS, the City Council of the City of Rancho Cucamonga, California, (hereinafter referred to as the "legislative body"), 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 of the State of California. This community Facilities District shall hereinafter be referred to as COMMUNITY FACILITIES DISTRICT NO. 88-2 (hereinafter referred to as the "District"); and WHEREAS, this legislative body, by Ordinance No. 397 introduced on the date of adoption of this Resolution, as authorized by Section 53340 of the Government Code of the State of California, intends to authorize 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, the City Council of the City of Rancho Cucamonga does hereby resolve 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 (1989- 1990) for the referenced District is hereby determined and established as set forth in the attached, referenced and incorporated Exhibit "A". SECTION 3: That the rate as set forth above does not exceed the amount to be authorized by Ordinance No. 397 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: A. Payment of principal of and interest on any outstanding authorized bonded indebtedness; B. Necessary replenishment of bond reserve funds or other reserve funds; Resolution No. 89-320 Page 2 C. Payment of costs and expenses of authorized public facilities and public services. 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 Exhibit "A". 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. SECTION 9: This Resolution shall become effective upon the adoption of Ordinance No. 397. PASSED, APPROVED, and ADOPTED this 5th day of July, 1989. AYES: Alexander, Brown, Stout NOES: Wright Dennis L. Stout, Mayor ATTEST: B.,eve~ly A. Authelet, City Clerk Resolution No. 89-320 Page 3 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 5th day of July, 1989. Executed this 6th day of July, 1989 at Rancho Cucamonga, California. ~ Be%verly A. Authelet,' City Resolution No. 89-320 Page 4 EXHIBIT "A" CITY OF RANCHO CUCAMONGA COMMUNITY FACILITIES DISTRICT NO. 88-2 The Resolution of Intention refers to this Exhibit for an explanation of the rate and method of apportionment of the Special Taxes so as to allow each landowner or resident within the proposed Community Facilities District to estimate the maximum amount that would be required for payment for such landowner's or resident's property. 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: 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 Ail 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 distribu- tion 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 1989-1990 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 livinq area)* Resolution No. 89-320 Page 5 TAXING CLASSIFICATION MAXIMUM TAX RATE 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 property $ 2,030 per acre per year** 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. METHOD OF~PPORTIONMENT OF SPECIAL TAX "A" Special Tax "A" shall be levied annually on all taxable property within one of the above identified Property Categories so long as Special Tax "A" revenues are necessary to pay authorized expenses of the Community Facilities District related to the financing of authorized public facilities, which may include, without limitation, payment of debt service on any bonded indebtedness of the Community Facilities District; replenishment of any required reserve fund for any such bonded indebtedness; funding of any required sinking fund necessary to pay for future public facilities or debt service; or direct payment for public facilities ("CFD Expenses"). The annual levy of Special Tax "A" shall be apportioned as follows: STEP 1: The Community Facilities District shall estimate the amount of CFD Expenses which must be paid for from Special Tax !'A" revenues collected during the Fiscal Year for which the Special Tax "A" levy is to be established (the "Required Special Tax "A" Revenue"). Resolution No. 89-320 Page 6 STEP 2: That equal percentage of the Special Tax "A" rate, not to exceed 91% of the maximum authorized Special Tax "A" rate, applicable to all Developed Property Taxing Classifications necessary to generate Special Tax "A" revenue in the Fiscal Year of the levy equal to the Required Special Tax "A" Revenue for such Fiscal Year shall be levied on all Developed Property. STEP 3: If additional Special Tax "A" revenues are still necessary to generate the Required Special "A" Revenue, that percentage of the maximum authorized Special Tax "A" rate applicable to all Undeveloped Property necessary to generate such additional Special Tax "A" revenue shall be levied on all Undeveloped Property. STEP 4: If additional Special Tax "A" revenues are still necessary to generate the Required Special Tax "A" Revenue, that equal percentage of the maximum authorized Special Tax "A" rate applicable to all Developed Property Taxing Classifications necessary to generate such additional Special Tax "A" revenue shall be levied on all Developed Property. STEP 5: If additional Special Tax "A" revenues are still necessary to generate the Required Special Tax "A" Revenue, the Community Facilities District shall: A. Compare (i) the Special Tax "A" rate which would be levied on each Developed Property combining STEP 2 and STEP 4 above with (ii) the product resulting from multiplying the square footage of the Developed Property times the Base Maximum Special Tax "A". The Base Maximum Special Tax "A" means an amount equal to $0.054 per square foot of the lot or parcel. B. If the product described in (ii) above exceeds the Special Tax "A" rate described in (i) above for any Developed Property, the Community Facilities District shall increase the Special Tax "A" rate levied on each such Developed Property in equal percentages up to the rate not to exceed the product described in (ii) above necessary to generate the additional Special Tax "A" revenues to equal the Required Special Tax "A" Revenues. Notwithstandin9 the foregoing, the minimum Special Tax "A" which shall be levied on all taxable properties within the Community Facilities District each Fiscal Year shall be: DEVELOPED PROPERTY: $ 1.00 per dwelling unit for residential uses $ 1.00 per acre for commercial/industrial uses UNDEVELOPED PROPERTY: $ 1.00 per lot or parcel Resolution No. 89-320 Page 7 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 1989-1990 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 liv£ng 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)* F. Residential Class VI $ 112 per year (Less than 2,051 square feet of dwelling unit living area)* G. Commercial or industrial property $ 1,000 per acre per year** The maximum annual Special Tax "B" rates shall be subject to escalation each July 1 commencing July 1, 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. The "Report" of the Special Tax Consultant, to be approved as a part of the record upon the conclusion of the public hearing pertaining to the formation of the Community Facilities District, shall set forth supplementary details pertaining to the Rate and Method of Apportionment of the Special Tax "A" and "B" and shall provide controlling guidance in the interpretation and implementation of this Rate and Method of Apportionment.