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HomeMy WebLinkAboutReso 2001-448 RESOLUTION NO. 2001-448 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA VISTA TO HOLD A PUBLIC HEARING ON JANUARY 15, 2002, TO CONSIDER AN INCREASE IN THE PRINCIPAL AMOUNT OF BONDED INDEBTEDNESS AUTHORIZED TO BE INCURRED WITHIN COMMUNITY FACILITIES DISTRICT NO. 2001-1 (SAN MIGUEL RANCH) FOR IMPROVEMENT AREA A WHEREAS, the City Council has previously undertaken proceedings to form Community Facilities District No 2001-1 (San Miguel Ranch) (the "District"), to establish two improvement areas therein designated as Improvement Area A and Improvement Area B and to authorize the issuance by the District of bonds for each improvement area pursuant to the provisions of the "Mello-Roos Community Facilities Act of 1982," as amended (Government Code Section 53311 and following) (the "Act") and the City of Chula Vista Community Facilities District Ordinance enacted pursuant to the powers reserved by the City of Chula Vista under Sections 3, 5 and 7 of Article XI of the Constitution of the State of Califomia (the "Ordinance") (the Act and the Ordinance may be referred to collectively as the "Community Facilities District Law") to finance the acquisition of certain authorized facilities; and WHEREAS, pursuant to the Act a ballot proposition was submitted to the qualified electors of the District to authorize the issuance of bonds for Improvement Area A in the maximum principal amount of $13,500,000 (the "Existing Bond Authorization") to be secured by the levy of special taxes on properties within Improvement Area A of the District; and WHEREAS, the qualified electors voted to authorize the issuance of bonds in a maximum principal amount not to exceed the Existing Bond Authorization; and WHEREAS, subsequent to the initiation of the proceedings to authorize the issuance of bonds for Improvement Area A it was determined that the actual principal amount of bonds necessary to be issued for Improvement Area A to finance the authorized public facilities is $15,000,000 rather than $13,500,000; and WHEREAS, the owners of property within Improvement Area A of the District have requested that the City Council, acting in its capacity as the legislative body of the District, initiate proceedings to consider altering the Existing Bond Authorization to increase such authorization to $15,000,000 to ensure that the District may issue bonds in the principal amount necessary to finance the authorized public facilities; and WHEREAS, this City Council desires to initiate such proceedings and to set the time and place for a public hearing on this Resolution. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF CHULA VISTA, CALIFORNIA, ACTiNG iN ITS CAPACITY AS THE LEGISLATIVE BODY OF COMMUNITY FACILITIES DISTRICT NO. 2001-1 (SAN MIGUEL RANCH), DOES HEREBY RESOLVE, DECLARE, F1ND, DETERMINE AND ORDER AS FOLLOWS: SECTION 1. RECITALS. The above recitals are all true and correct. Resolution 2001-448 Page 2 SECTION 2. DESCRIPTION OF THE AREA TO BE AFFECTED. The area to be affected by the proposed alteration, if approved, is Improvement Area A of Community Facilities District No. 2001-1 (San Miguel Ranch) and is generally described as follows: All property within the boundaries of Improvement Area A of Community Facilities District No. 2001-1 (San Miguel Ranch), as shown on a map as previously approved by the City Council of the City, such map designated by the name of such District, a copy of which is on file in the Office of the City Clerk. SECTION 3. INCREASE IN THE EXISTING BOND AUTHORIZATION. This City Council hereby declares its intention to consider approval of the increase in the Existing Bond Authorization to increase such authorization from $13,500,000 to $15,000,000 (the Existing Bond Authorization as so altered is referred to as the "Increased Bond Authorization"). SECTION 4. PUBLIC HEARING. NOTICE IS HEREBY GIVEN that on the 15th day of January, 2002, at the hour of 6 p.m., in the regular meeting place of the City Council, being the Council Chambers located at 276 Fourth Street, Chula Vista, California, the City Council will hold a public heating to consider this Resolution and to consider the approval of the Increased Bond Authorization. At such time and place all interested persons or taxpayers for or against the approval of the Increased Bond Authorization will be heard. Notwithstanding the foregoing, the public heating shall be continued from January 15, 2002 to January 22, 2002 unless the City Clerk shall on or before January 15, 2002 have received the written consent from the owners of all of the property within Improvement Area A to the scheduling of this public heating on January 15, 2002. SECTION 5. NOTICE OF PUBLIC HEARING. The City Clerk is hereby authorized and directed to give notice of such public heating in the following manner: A Notice of Public Heating shall be published pursuant to Government Code Section 6061 in a legally designated newspaper of general circulation with such publication to be completed at least seven (7) days prior to the date set for such public heating. SECTION 6. EFFECTIVE DATE. This Resolution shall become effective immediately upon its adoption. Prepared by Approved as to form by John M. Kaheny City Attorney Resolution 2001-448 Page 3 PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista, California, this 17th day of December, 2001, by the following vote: AYES: Councilmembers: Davis, Padilla, Rindone, Salas and Horton NAYS: Councilmembers: None ABSENT: Councilmembers: None Shirley Horton, ~Idyor-- ATTEST: Donna Norris, Assistant City Clerk STATE OF CALIFORNIA ) COUNTY OF SAN DIEGO ) CITY OF CHULA VISTA ) I, Donna Norris, Assistant City Clerk of Chula Vista, California, do hereby certify that the foregoing Resolution No. 2001-448 was duly passed, approved, and adopted by the City Council at an adjourned regular meeting of the Chula Vista City Council held on the 17th day of December, 2001. Executed this 17th day of December, 2001. Donna Norris, Assistant City Clerk