HomeMy WebLinkAbout490 - Ordinances ORD~CENO. ~90
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF RANC~O
CUCAMONGA, CALIFORNIA, AUTHORIZING THE LEVY OF A SPECIAL
TAX IN 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"), 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-Rcos Cormunity Facilities Act of
1982", being Chapter 2.5, Part 1, Division 2, Title 5 of the Government Code
of the State of California (hereiD~fter referred to as the "Act"). This
Conmunity Facilities District shall hereinafter be referred to as ~
FACILITIES DISTRICT NO. 91-1 (VICTORIA COMMUNITY) (hereinafter referred to as
the "District"); and
NON, THEREFORE, the City Council of the City of Rancho Cucamonga does
hereby ordain as follows:
SECTION 1: That the above recitals are all true and correct.
SECTION 2: That this legislative body does, by the passage of this
Ordinance, authorize the levy of special taxes at the rate and formula as set
forth in Exhibit "A" attached hereto, referenced and so incorporated.
SECTION 3: That this legislative body is hereby further authorized,
by Resolution, to determine the specific special tax rate and amount to be
levied for the then current tax year or future tax years, except that the
special tax rate to be levied shall not exceed that as set forth above, but
the special tax may be levied at a lower rate.
SECTION 4: The proceeds of the above authorized and levied special
tax may only 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 bounded indebtedness; and
B. Necessary replenishment of bond reserve funds or other
reserve funds; and
C. Payment of costs and expenses of authorized public
facilities, services, and incidental expenses pursuant to the Act; and
D. Repayment of advances and loans, as appropriate.
The proceeds of the special tax shall be levied only so
long as needed for its purpose, and shall not be used for any other purpose.
Ordinance No. 490
Page 2
SECTION 5: Except for the prepayment of special taxes as provided
for in Exhibit "A", the above authorized special tax shall be collected in the
same manner as ordinary ad valorem taxes are collected and shall be subject to
the same penalties and the same procedure, sale and lien priority in case of
delinquency as is provided for ad valorem taxes.
SECTION 6: The above authorized special tax shall be secured by the
lien imposed pursuant to Sections 3114.5 and 3115.5 of the Streets and High-
ways Code of the State of California, which lien shall be a continuing lien
and shall secure each levy of the special tax. The lien of the special tax
shall continue in force and effect until the special tax obligation is
prepaid, permanently satisfied and canceled in accordance with Section 53344
of the Gov~t Code of the State of California or until the special tax
ceases to be levied by the legislative body of the local Agency in the manner
provided in Section 53330.5 of said Government Code.
SECTION 7: This Ordinance and special tax shall be applicable for
the referenced District, as well as any future annexations.
SECTION 8: This Ordinance shall be effective thirty (30) days after
its adoption. Within fifteen (15) days after its adoption, the City Clerk
shall cause this Ordinance to be published in a newspaper of general circula-
tion in the City pursuant to the provisions of Government Code Section 36933.
SECTION 9: The Mayor shall sign this Ordinance and the City Clerk
shall cause the same to be published within fifteen (15) days after its
passage at least once in the Inland Valley Daily Bulletin, a newspaper of
general circulation published in the City of Ontario, California, and
circulated in the City of Rancho Cucamonga, California.
PASSED, APPROV~D, and ADOPTED this 1st day of April, 1992.
AYES: Alexander, Buquet, Stout, Williams
NOES: None
ABSENT: Wright ~~~~
Dennis L. Stout, Mayor
a=a j. city clerk
Ordinance No. 490
Page 3
I, DEBRA J. ADAMS, CITY CI.k~K of the City of Rancho Cucamonga,
California, do hereby certify that the foregoing Ordinance w~s introduced at a
regular meeting of the Council of the City of Rancho Cucamonga held on the
18th day of March, 1992, and was finally passed at a regular meeting of the
City Council of the City of Rancho Cucamonga held on the 1st day of April,
1992.
Executed this 2nd day of April, 1992, at Rancho Cucamonga,
California.
De~ra J. ~d__~s, City Clerk
Ordinance No. 490
Page 4
Revi~ed November 20, 1991
EXHIBIT A
RATES AND METHOD OF APPORTIONMENT OF SPECIAL TAXES
FOR COMMUNITY FACILITIES DISTRICT NO. 91-1
(VICTORIA COMMUNITY) OF THE
CITY OF RANCHO CUCAMONGA
A Special Tax, the "Special Tax(es)" (deftned below), shall be applicable to each Parcel (defined
below) located in Community Facilities Diswict No. 91-1 (Victoria Community) of the City of
P, ancho Cucamonga (hereinafter "CFD No. 91-1"). The mount of Special Tax to be collected
from each Parcel in any Fiscal Year (defined below) shall be determined by the City Council of the
City of Ratwho Cucamonga (hereinafter the "Council" and the "City"), acting in its capacity as the
legislative body of CFD No. 91- I, in accordance with the rate and method of apportionment
described below. All of the property in CFD No. 91-1 unless exempted by law or Section F
below, shall be taxed for the purposes, to the extent, and in the manner provided herein.
A. DEFINITIONS
"Assessor's Parcel Map" means an official map of the County Assessor of the County
of San Bernaxd~o designating Parcels by Assessof's Parcel Number.
"Alternate Special Tax Rate" for Developed Property which is Residential Property
means that amount of tax computed by multiplying the number of Net Taxable Acres
contained within a final subdivision map, parcel map, or functionally equivalent map or
instnartnt by the applicable Alternate Special Tax Rate as specified in Table 1 below. The
resulting product is then divided by the number of Parcels (in the case of single fami/y
residential dwelling units or condominium or other multi-family dwelling units where only
one dwelling unit is located within a Parcel) or dwelling units contained in said map. The
resulting quotient is the Alternate Special Tax Rate for each Parcel or dwelling unit created
by said fatal subdivision map, parcel map, or functionally equivalent map or instrument.
A-1
Ordinance No. 490
Page % v
Re~ued o ember 20, ]991
For Developed Property which is Non-Residential Property, the Alternate Special Tax Rate
shall be the amount per Net Taxable Acre as specified in Table 1 below.
"Assigned Special Tax Rate" means the applicable Special Tax per Parcel based on
the applicable rate per dwelling unit or Net Taxable Acre as specified in Table 1 below.
"Developed Property" means, as of July 1 of any Fiscal Year, all Parcels for which a
fins/subdivision map, pawel map or functionaLly equivalent map or instrument creating lots
or parcels upon which residential units may be consu'ucted or creating lots or parcels for
commerci%l and industrial development has been recorded prior to March 1 of the preceding
FucalYear.
"Exempt Property" means any Parcel or other property within CFD No. 91-1 described
in Section F which is exempt ~'om the levy of the' Special Tax.
"Fiscal Year" means the period starting on July 1 of any year and ending the following
June. 30.
"Maximum Special Tax" for a Parcel of Developed Property, means the greater of the
Assigned Specixt Tax Rate or the Alternative Special Tax Rate applicable to such Parcel.
Maximum Special Tax for a Parcel dUndeveloped Property. means the Assigned Special
Tax Rate applicable to such Parcel as set forth in Table 1 below.
, Net Taxable Acre" means an acre of Developed Property or Undeveloped Property,
_ exclusive of property exempted by law or the provisions of Section F below from the
Special Tax; the acreage calculation for Developed Properry will be based on the
' dimensions as shown on or calculated from the recorded final subdivision map, parcel
Ordinance No. 490
Page 6
Rev~ed November 20, 1991
map, or functionaLly equivalent map or insu'umen~ the acreage calctaation for Undeveloped
Property sha31 be the acreage shown on or calculated from the Assessor's Parcel Map.
"Residential Property" means those Parcels upon which residential units may build.
"Series A Bonds" means those bonds issued by CFD No. 1 to fund domestic water
improvements, sanitary sewer improvements, mad improvements, flood conlrol and storm
drain imlmovements, utility improvements, and right-of-way acquisition.
Series B Bonds" means those bonds issued by CFD No. 1 to fund construction of me
-~,~s Park in the Village of Victoria lakes.
"Non-Residential Property" means those Parcels which are not classified as
"Parcel" means a lot or parcel shown on an Assessor's Parcel Map with an assigned
Assessor's Parcel number as of the date of the levy of the. Special Taxes for each Fiscal
Year.
"Special Tax Requirement - A" means that amount rectuircd to bc collected from Tax
Rate Zones I through 15 in any F~scai Year to pay: (1) debt service on all Series A Bonds
or other indebtedness of CFD No. 9 I-1 rehted to the improvements as described in the
definition of the Series A Bonds, (2) costs incurred by the City and CFD No. 91-I in the
annual levy and collection of the Special Taxes related to the Series A Bonds, (3) other
teachable costs of CFD No. 91-1 related to the adminisn'ation of the Series A Bonds, and
(4) any mounts required to replenish any reserve funds established in association with the
Ordinance No. 490
Page 7
Rev~ed November 20, 1991
Series A Bonds. In calculating the Special Tax Requirement - A for a Fiscal Year items (1)
through (4) shall be net of bond reserve canrings and other interest earnings described in
~he bond resolution for the Series A Bonds reasonably expected to be available, except
those earnings that may be r~qui~ for rebate pittposes.
"Special Tax Requirement - B" means that amOUnt required to be collected from Tax
. Ram Zone 16 in any Fiscal Year to pay: (1) debt service on all Series B Bonds or other
indebtedness of CFD No. 91-1 related to improvements described in the definition of the
Series B Bonds, (2) costs incurred by the City and CFD No. 91-1 in the annual levy and
collection of the Special Taxes related to the Series B Bonds, (3) other reasonable costs of
CFD No. 91-I related to the adrninisration of the Series B Bonds, and (4) any amounts
required to replenish any reserve funds established in association with the Series B Bonds
issued and sold for CFD No. 91-1. In calculating the Special Tax Requirement for a Fiscal
Year, items (1) through (4) shall be net of bond reserve earnings and other interest earnings
described in the bond resolution for the Series B Bonds reasonably expected to be
av,,~lable, except those earnings that may be required for rebate purposes.
"Special Tax(m)" means the Special Tax to be levied in each Fiscal Year on all Parcels
to fund either the Special Tax Requirement - A or the Special Tax Requirement - B.
"Taxable Properly" means all Parcels in CFD No. 91-1 which are not exempt fi'om the
levy of Special Taxes pursuant to law or Section F below.
"Tax Rate Zones means any of the sixteen (16) Tax Rate Zones listed in Table 1 hereof
to which a Parcel is assigned as a result of its location on the Tax Rate Zone Map included
Ordinance No. 490
Page 8
' Revi~ed November 20, 1991
-- "Undeveloped Propertyw means all Parcels in CFD No. 91-1 which are not classified
as Developed Property or Exempt Property.
"Victoria Community Plan" means the Victoria Community Plan of the City of
Rancho C'ucatnonga adopts! by the City Council on May 20, 1981 as may be subsequently
_ modified, supplemenzd or amended.
- "Victoria Lakes" means the Village of Victoria Lakes as shown in the Victoria
"Victoria Windrows" means the Village of Victoria Windrows as shown in the Victoria
B. ASSIGNMENT TO TAX RATE ZONE
For purposes of determining the applicable Maximum Special Tax as specified in Table 1 in
Section D below, all Taxable Property shall be assigned to one of the Tax Rate Zones
pursuant to Figure 1.
C. ASSIGNMENT TO TAX CLASS
' For each Fiscal Year, all Parcels within CFD No. 1 shall be classified either as Developed
Property, Undeveloped Property, or Exempt Property. Additionally, each Parcel of
Developed Property within Tax Rate Zones I and 4 shall be assigned to a Tax Class within
_ such Tax Rate Zone depending upon its density calculated by dividing the number of
Parcels or dwelling units in the recorded subdivision map, parcel map. or functionally
- equivalent map or insu'ument in which the Parcel is included by the Net Taxable Acres as
Ordinance No. 490
Page 9
Rev~ed November 20, 1991
contained therein and shah bc subject to the levy of the Special Tax in accordance with the
- rates and method of apportionment set forth in Sections D and E bclow.
D. MAXIMUM SPECIAL TAX RATES
The Maximum Special Tax for Parcels within each Tax Rate Zone for each Fiscal Year for
Developed Property shall be the greater of the Assigned Special Tax Rate or the Alternate
_ Special Tax Rate, and for Undeveloped Property shall be the Assigned Special Tax Rate all
as set forth in Table 1 below.
If Developed Property which is Residential Pwpcrty has bccn subdivided and/or developed
so as to result in a density which does not fall within any of the Tax Classes dcrmexi for
. any Tax Rate Zones set forth in Table 1, the Assigned Special Tax Rate for each Parcel or
unit within such final sulxiivision map, parcel map, or functionally equivalent map or
insuument shall be the greater amount of the applicable Assigned Special Tax Rate set forth
in Tabl~ 1 or the amount calculated using the applicable Alternate Special Tax Rate set forth
in Table 1.
ff the land use of a Parcel within any given Tax Rate Zone changes from the applicable land
use shown on Table 1, the Assigned Special Tax Rate for such Parcel shall be the Alternate
Special Tax Rate, which would have been applicable to such Parcel had its land use not
changed.
Ordinance No. 490
Page 10
A-7
Ordinance No. 490 ~'~
Page 11
Ordinance No. 490
Page 12
A-9
Ordinance No. 490
Page 13
" Revised November 20, 1991
E. METHOD OF APPORTIONMENT OF THE SPECIAL TAXES
_ 1. Method of Apportionment of Special Taxes for Special Tax
Requirement - A
On or prior to August I of each Fiscal Year or such other date as may be established by
law, the Council shall determine Special Tax Requirement - A for such Fiscal Year and
shall levy the Special Taxes as follows:
5J,~LL; The Special Taxes shall be levied on all Parcels of Developed Property in Tax Rate
Zones 1 through 15 at 100 percent of the Assigned Special Tax Rate; however, if this
amount exceeds Special Tax Requirement - A, the levy of Special Taxes on all Parcels of
Developed Property shall be pmportiopnny decreased until the revenues produced thereby
will be equal to Special Tax Requirement - A.
~42-2,; If the revenues which may be produced by levying the Special Tax pursuant to
Step 1 are less than Special Tax Requirement - A, the Special Taxes shall be levied
proportionally on all Parcels of Undeveloped Property in Tax Rate Zones 1 through 15 up
to I00 percent of the Assigned Special Tax Rate to produce aggEgate revenues equal to
Special Tax Requirement- A.
~ If the revenues which may be produced by levying the Special Tax pursuant to
Steps 1 and 2 are less than the Special Tax Requirement - A, the Special Taxes shall be
levied proportionally on all Parcels of Developed Property up to 100% of the ;kltmate
Special Tax Rate to produce revenues equal to the Special Tax Reqtirement - A.
Ord~,/ktnce No. 490
Page 14
Revised November 20, 1991
2. Method of Apportionment of Special Taxes for Special Tax
Requirement- B
On or prior to August 1 of each Fiscal Year or such other date as may be established by
law, the Counc~ shall detenninc Special Tax Requirement - B for such Fiscal Year and
shall levy the Special Taxes as follows:
~ The Special Taxes shall be levied on all Parcels of Dcvelopcd Propcrry in Tax Rate
Zone 16 at 100 percent of the Assigned Special Tax Rate; however, if this amount exceeds
Special Tax Requirement - B, the levy of Spccial Taxcs on all Parcels of Dcvcloped
Property shall be proportionally decreased unlil the revenues produced thereby will be
equal to Special Tax Requirement- B.
~ If the revenues which may be produced by levying the Special Tax pursuant to
Step 1 arc less than Special Tax Requircmcnt- B, the Special Taxes shall be levied
proportionally on all Parcels of Undeveloped Property in Tax Rate Zone 16 up to 100
percent of the Assigned Special Tax Rate to produce aggregate revenues equal to Special
Tax Requirement- B.
~ If the revenues which may be produced by levying the Special Tax pursuant to
Steps 1 and 2 are less than the Special Tax Requirement - B, the Special Taxes shall be
levied pwportionally on all Parcels of Developed Property up to 100% of the Alternate
Special Tax Rate to produce revenues equal to the Special Tax Requirement - B.
Ordinance No. 490
Page 15
Rev~ed November 20, 1991
F. EXEMPTIONS
The Board shall not levy a Special Tax on the foBowing properties which may as of the
date of fcrmation of CFD No. 91 - 1 be:
· Properties owned by state, federal, or other local governments, except as otherwise
provided in Section 53317.3 of the Government Code;
· Propemy within CFD No. 1 which is dedicated for the purposes of constructing CFD
funded toad facilities;
· -Approximately 25 acres of properW within CFD No. 1 which are to be dedicated to the
City for the Lake Park within the Village of Victoria I2kes;
· Propen}, within CFD No. 1 to be dedicated to or owned .by the Southern California
F. tson Company, the use of which is limited to utility purposes.
· Those Parcels at enlry ways and along perinae~r areas used for landscaping which are
dedicated to and maintained by the City.
Parcels or portion of Parcels conveyed or irrevocably offered for dedication to a public
agency after formation of CFD No. 91-1, and not othenvise exempt pursuant to this
Section F, shall be subject to the levy of the Special Taxes pursuant to Section 533 17.3 or
Section 533 17.5 of the Government Code and shall be assigned a Tax Rate pursuant to
Section B.
Ordinance No. 490
Page 16
Rev~ed November 20, 1991
G. MANNER OF COLLECTION
Except for the prepayment of Special Taxes as providext for herein, the Special Taxes shall
be collected in the same manner and at the same time as ad valorera property taxes,
"" ~' provich~ however, that the City Council may author4.ze the collection of delinquent Special
Taxes by judicial foreclosure proceedings pursuant to Section 53356. 1 of the Government
Code.
H. PAYOFF OF SPECIAL TAXES
1. PreDavment of Special Taxes for Tax Rate 7-Ones 1 th,,ou_~h
The owner of any Parcel within Tax Rate Zones 1 through 15 may discharge the
' Special Tax obligation applicable to such Parcel in whole or in part at any time by
making a one-time payment calculated as follows:
(a) Compute the present value of the Parcel's remaining payments of the Maximum
_ Special Tax at th~ weighted average yield on Series A Bonds issued for CFD No.
91-I.
(b) Multiply (a) above by the proposed prepayment percentage to determine the
prepayment amount
(c) Add the following amounts to (b) above:
· Call premium as required in the bond insmurtnt, and
· Interest on (b) at the applicable bond rate for each year from the date of
- pv3payment. if any, to the earliest available bond ca]/date.
(d), Subu'act the following mount from (c) above:
· The applicable portion of the Parcels pro rata shaxe of the bond reserve fund
of the Series A Bonds issued for CFD No. 91-1.
Ordinance No. 490
Page 17
Revised November 20, 1991
(e) Subtract the following amount from (d) above:
· Interest earnings to be generated at a reinvestment rate as determined by
CFD No. 9 I-I from the date of prepayment to the earliest available bond
call date. : ~ ,,:~;:: ~-...
(f) Add the following amounts to (e) above to determine the Parcels prepayment
· Unpaid Special Taxes which may have been enrolled on the Assessors tax
· Interest and penalties, if applicable, which may be associated with unpaid
Special Taxes; and
· An administrative fee to cover the costs incun'ed by C1;'D No. 91-1
associated with calculating the amount of prepayment, redeeming bonds,
and preparing amended tax bills.
The Maximum Special Taxes as set forth in Section D for a Parcel utilizing a
prepayment percentage less than 100% shall be reduced in subsequent Fiscal Years by
multiplying the Maximum Special Tax by the prepayment percentage actually used in
Section H. 1 Co).
An owner may also ptepay and discharge a pertion of the Special Tax obligation
applicable to a Parcel by dedicating right-of-way, the application of which would
otherwise be financed by CFD No. 91-I, so long as such dedication is consummated
prior to such deadline as may be established by the City Council.
2. lmrep_a_vment of guecial Taxes for TaX pate Zone 16
The owner of any Parcel within Tax Rate Zone 16 must discharge the Special Tax
obligation applicable to such Parcel in full through the prepayment of the Special Tax
Ordinance No. 490
Page 18
Rev~ed November 20, 1991
per lot m' unit as a greco~tion m the issuance of a bttilding permit for such Par. el.
Th~ amount of the pr~tyment shall be calculated as follows:
(a) Determine the total remaining bond principal outstanding for Series B Bonds.
(b) .- Subu'act from (a) above the the to~ remain~g bond reserve fund for the Series B
Bonds.
(c) Divide the result of Co) above by the total remaining planned residential lots or
units ia Tax Rate Zone 16, including the units for which this calculation is being
(d) Subu, act the foLLowing amount from (c) above:
· Interest earnings to be generated at a reinvestment rate as determined by
CFD No. 91-1 from the date ofprepayment to the earliest available bond
call date.
(e) Add the following amoun~ to (d) above to determine the Pan:el's prepayment
· Call pr~um as requimt in ~t~ bond instrument.
· Interest On (v) ax the applicable bond raxe from the date of prepayment to the
earnest available bond call date,
· Unpaid Special Taxes which may have been enrolled on the Assessor's tax
roLL,
· Interest and penalties, if applicable, which may be associated with unpaid
Special Taxes, and
· An administntive fee to cover the costs incurred by CFD No. 91-1
associated with calculating the amount of prepayment, redeeming bonds,
and preparing mended tax bills.
Ordinance No. 490
Page 19
FIGURE I