HomeMy WebLinkAbout11-116 - Resolutions RESOLUTION NO. 11-116
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
RANCHO CUCAMONGA, CALIFORNIA, RE-ESTABLISHING
ANNUAL SPECIAL TAX FOR COMMUNITY FACILITIES DISTRICT
NO. 88-2 (DRAINAGE AND LAW ENFORCEMENT)
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. 88-2
(Drainage and Law Enforcement)
(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 2011-2012 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 are 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.
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.
SECTIONS: 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,kation and signatures
Resolution No. 11-116 - Page 2 of 7
PASSED, APPROVED, AND ADOPTED this 20th day of July 2011.
AYES: Alexander, Buquet, Michael, Spagnolo, Williams
NOES: None
ABSENT: None
ABSTAINED: None
L. Dennis Michael, Mayor
ATTEST:
ice C. Reynolds, City Jerk
I, JANICE C. REYNOLDS, 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 201h day of July 2011.
Executed this 21" day of July 2011, at Rancho Cucamonga, California.
ice C. Reynolds, City Clerk
Resolution No. 11-116 - Page 3 of 7
CITY OF RANCHO CUCAMONGA
MELLO-ROOS COMMUNITY
FACILITIES DISTRICT NO. 88-2
DRAINAGE AND LAW ENFORCEMENT
ANNUALSTATUSREPORT
JULY 2011
Resolution No. 11-116 - Page 4 of 7
BACKGROUND
On June 21, 1989, the City Council approved the formation of Community Facilities District No.
88-2 for Drainage Capital Facilities and Law Enforcement services. On June 27, 1989 the
electors within the boundaries of the District authorized the District to incur bonded indebtedness
in the principal amount of not to exceed $4,000,000 to finance certain public improvements to
meet the needs of the new development, and approved the Special Tax Formula and levy of a
Special Tax to pay principal and interest on the Bonds, pay directly for the facilities, pay
administrative expenses of the District and make any replenishment to the Reserve Fund.
On April 7, 1994, City Council approved Resolution No. 94-058, authorizing the issuance of
bonds in the principal amount of$2,920,000. On June 3, 1999, City Council adopted Resolution
No. 99-127 authorizing the refunding of special tax bonds for this District. The refunding bonds
were issued in July 1999 in the amount of $2,705,000. The special tax was set at 91% of the
maximum rate when the district was formed for the developed property. However, the authorized
bond refunding adjusted the rate to 78% of the maximum special tax for the developed and
undeveloped property. The collections from the annual levy will be used to pay debt service
through the life of the bonds. The District's boundary is west of San Sevaine Road, east of
Wardman Bullock Road, north of Hoppe Drive, and south of San Bernardino National Forest.
FISCAL YEAR 2011-2012
There is no increase for fiscal year 2011-2012 from the prior year. The current rates will provide
sufficient funding to pay for operations and maintenance in the amount of$286,890.
Resolution No. 11-116 - Page 5 of 7
COMMUNITY FACILITIES DISTRICT
PROPOSED USES AND SOURCES OF FUNDS
USES:
DEBT SERVICE $230.550.00
CITY AND TRUSTEE ADMINISTRATION, $ 50,640.00
GENERAL OVERHEAD & LIABILITY
CONTRACT SERVICES $ 0.00
TRANSFER OUT TO CFD-2 POLICE $ 700.00
DELINQUENT ASSESSMENTS $ 0.00
$286,890.00
SOURCES:
INTEREST REVENUE $ 22.700.00
DELINQUENT ASSESSMENTS $ 3,150.00
TRANSFER FROM FUND BALANCES $ 2.210.00
SPECIAL TAX $258,830.00
$286,890.00
Resolution No. 11-116 - Page 6 of 7
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