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HomeMy WebLinkAbout397 - OrdinancesORDINANCE NO. 397 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF RANCHO CUCAMONGA, CALIFORNIA, AUTHORIZING THE LEVY OF A SPECIAL TAX IN A COMMUNITY FACILITIES DISTRICT 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 l, Division 2, Title 5 of the Government Code of the State of California (hereinafter referred to as the "Act"). This Community Facilities District shall hereinafter be referred to as COMMUNITY FACILITIES DISTRICT NO. 88-2 (hereinafter referred to as the "District"); and NOW, THEREEFORE, 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 and set forth in Exhibit "A" attached hereto, referenced and so incorporated. SECTION 3: That this legislative body is hereby further authorized each year, by Resolution, to determine the specific special tax rate and amount to be levied for the next fiscal year, except that the special tax rate to be levied shall not exceed that as set forth in Exhibit "A", but the special tax may be levied at a lower rate. SECTION 4: Properties or entities of the State, Federal or other local governments shall, except as otherwise provided in Section 53317.3 of the Government Code of the State of California, be exempt from the above-referenced and approved special tax. SECTION 5: 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: Ao Payment of principal of and interest on any outstanding authorized bonded indebtedness. Necessary replenishment of bond reserve funds or other reserve funds; Payment of costs and expenses of authorized public facilities, services, and incidental expenses pursuant to the Act. D. Repayment of advances and loans, as appropriate. Ordinance No. 397 Page 2 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. SECTION 6: 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 7: The above authorized special tax shall be secured by the lien imposed pursuant to Sections 3114.5 and 3115.5 of the Streets and Highways 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 cancelled in accordance with Section 53344 of the Government 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 8: This Ordinance is adopted under the specific authorization of Section 53340 of the Government Code of the State of California. 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 Daily Report, a newspaper of general circulation published in the City of Ontario, California, and circulated in the City of Rancho Cucamonga, California. PASSED, APPROVED, and ADOPTED this 19th day of July, 1989. AYES: Alexander, Brown, Stout NOES: Wright ABSENT: Buquet Dennis L. Stout, Mayor ATTEST: ~rly A. A~t~elet, City rClerk j I, BEVERLY A. AUTHELET, CITY CLERK of the City of Rancho Cucamonga, California, do hereby certify that the foregoing Ordinance was introduced at a regular meeting of the Council of the City of Rancho Cucamonga held on the 5th day of July, 1989, and was finally passed at a regular meeting of the City Council of the City of Rancho Cucamonga held on the 19th day of July, 1989. Ordinance No. 397 Page 3 Executed this 20th day of July, 1989 at Rancho Cucamonga, California. Ordinance No. 397 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 All 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 All 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 Ae Residential Class I (More than 3,590 square feet of dwelling unit living area), $ 1,037 per year Residential Class II (3,077-3,589 square feet of dwelling unit living area)* $ 768 per year Ce Residential Class III (2,564-3,076 square feet of dwelling unit living area), $ 576 per year Ordinance No. 397 Page 5 TAXING CLASSIFICATION D. Residential Class IV (2,308-2,563 square feet of dwelling unit living area), MAXIMUM TAX RATE $ 461 per year Residential Class V (2,051-2,307 square feet of dwelling unit living area), $ 384 per year Residential Class VI (Less than 2,051 square feet of dwelling unit living area), $ 269 per year G. Commercial or industrial property 2. UNDEVELOPED PROPERTY $ 2,030 per acre per year** All 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 APPORTIONMENT OF SPECIAL TAX "A" Special Tax "A" shall be levied annually on all taxable property within one of the above identified Property CategorieSso 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"). Ordinance No. 397 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: 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. Be 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. Notwithstanding 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 Ordinance No. 397 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 1. DEVELOPED PROPERTY MAXIMUM TAX RATE Residential Class I (More than 3,590 square feet of dwelling unit livxng area)* $ 432 per year Residential Class II (3,077-3,589 square feet of dwelling unit living area)* $ 320 per year Residential Class III (2,564-3,076 square feet of dwelling unit living area)* $ 240 per year Residential Class IV (2,308-2,563 square feet of dwelling unit living area), $ 192 per year Residential Class V (2,051-2,307 square feet of dwelling unit living area), $ 160 per year Residential Class VI (Less than 2,051 square feet of dwelling unit livlng area), $ 112 per year 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.