HomeMy WebLinkAbout06-230 - Resolutions RESOLUTION NO. 06-230
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
RANCHO CUCAMONGA, CALIFORNIA, PROVIDING FOR THE
LEVY OF THE ANNUAL SPECIAL TAX FOR COMMUNITY
FACILITIES DISTRICT NO. 2004-01 (RANCHO ETIWANDA
ESTATES) FOR TAX YEAR 2006-2007
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. 2004-01
(RANCHO ETIWANDA ESTATES)
(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 2006-2007 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. 06-230
Page 2 of 6
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. 06-230
Page 3 of 6
PASSED, APPROVED, AND ADOPTED this 1 gth day of July 2006.
AYES: Alexander, Gutierrez, Michael, Spagnolo, Williams
NOES: None
ABSENT: None
ABSTAINED: None
William J. Alex der, Mayor
ATTEST:
D bra J. Adas MC, 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 1 gth day of July 2006.
Executed this 20th day of July 2006, at Rancho Cucamonga, California.
6el5ra J. Adam C, City Clerk
Resolution No. 06-230
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CITY OF RANCHO CUCAMONGA
MELLO-ROOS COMMUNITY
FACILITIES DISTRICT NO. 2004-01
RANCHO ETIWANDA ESTATES
ANNUALSTATUSREPORT
JULY 2006
Resolution No. 06-230
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BACKGROUND
On September 15, 2004, the electors within the boundary of Community Facilities District No.
2004-01 (Rancho Etiwanda Estates) authorized the District to incur bonded indebtedness in the
principal amount of $45,000,000 for the purpose of financing the acquisition of(a) Day Creek
Boulevard - grading, storm drain, sewer, water, dry utilities, streets and landscaping; (b)
Etiwanda Avenue - grading, sewer, water, dry utilities, streets and landscaping; (c) Cucamonga
Valley Water District ("CVWD") reservoir transmission main; (d) storm drain facilities
including the northern property line storm drain and the Etiwanda Avenue storm drain: (e) park
facilities; (f) equestrian facilities; (g) school facilities to be owned by the Etiwanda School
District and by the Chaffey Joint Union High School District; (h) water and sewer facilities to be
owned by CVWD which are authorized to be financed from the proceeds of capacity charges
levied by CVWD; (i) flood control facilities to be owned by the San Bernardino County Flood
Control District; and 0) open space to be owned by the County of San Bernardino.
The District was approved classifying the taxable property within as Developed Property,
Taxable Public Property, Taxable Property Owner Association Property or Undeveloped
Property. Residential Property is assigned Land Use Classes 1 through 5 and Non-Residential
Property is assigned land Use Class 6.
Maximum Special Tax for Developed Property in
Community Facilities District No. 2004-01
Land Use Class Description Residential Floor Area Maximum Special Tax
1 Residential Property more than 4,000 SF $5,555 per unit
2 Residential Property 3,801 — 4,000 SF 5,325 per unit
3 Residential Property 3,601 — 3,800 SF 5,151 per unit
4 Residential Property 3,400 — 3,600 SF 4,896 per unit
5 Residential Property less than 3,400 SF 4,410 per unit
6 Non-Residential Property NA 19,813 per Acre
The Maximum Special Tax for Undeveloped Property, Taxable Public Property and Taxable
Property owner association Property shall be $21, 216 per Acre. 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 2006-2007
The annual tax for fiscal year 2006-2007 will be $2,700,220 and will provide sufficient funding
to pay debt service.
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COMMUNITY FACILITIES DISTRICT
PROPOSED USES AND SOURCES OF FUNDS
USES:
DEBT SERVICE $2,700,220
CITY AND TRUSTEE ADMINISTRATION, $ 40,000
GENERAL OVERHEAD & LIABILITY
CONTRACT SERVICES $ 5,000
DELINQUENT ASSESSMENTS $ 0
$2,745,220
SOURCES:
DELINQUENT ASSESSMENTS $ 0
INTEREST REVENUE $ 5,000
FUND BALANCE $ 40,000
SPECIAL TAX $2,700,220
$2,745,220