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HomeMy WebLinkAboutReso 1999-19585 RESOLUTION NO. 19585 RESOLUTION DECLARING NECESSITY TO INCUR A BONDED INDEBTEDNESS, SUBMITTING TO THE QUALIFIED ELECTORS OF A COMMUNITY FACILITIES DISTRICT A PROPOSITION TO INCUR A BONDED INDEBTEDNESS SECURED BY A SPECIAL TAX LEVY TO PAY FOR CERTAIN CAPITAL FACILITIES IN A COMMUNITY FACILITIES DISTRICT, AND GIVING NOTICE THEREON WHEREAS, the City Council has previously declared its intention and held and conducted a public hearing relating to the issuance of bonds to be secured by special taxes to pay for certain capital facilities in a community facilities district, 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 of the State of California (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 California (the "Ordinance") (the Act and the Ordinance may be referred to collectively as the "Community Facilities District Law"). This Community Facilities District shall hereinafter be referred to as COMMUNITY FACILITIES DISTRICT NO. 99-1 (OTAY RANCH SPA ONE - PORTIONS OF VILLAGE ONE, VILLAGE FIVE AND VILLAGE ONE WEST) (the "District"); and WHEREAS, at this time the City Council desires to proceed to make the determination of necessity to incur the bonded indebtedness, to declare the purpose for such debt, and to authorize the submittal of a combined proposition to the qualified electors of such District, being the landowners of the proposed District, all as authorized and required by law; WHEREAS, all of the qualified electors have waived the time limits specified in the Act pertaining to the conduct of the election and the requirements for impartial legal arguments have also been waived by the unanimous consent of the qualified electors; and WHEREAS, the City Clerk, as the Election Official, has concurred in the shortening of time for conducting the election. NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS: SECTION 1. RECITALS. The above recitals are all true and correct. SECTION 2. NECESSITY FOR BOND ISSUE. The City Council hereby expressly declares and states that it is necessary to incur a bonded indebtedness as authorize under the terms and provisions of the Community Facilities District Law, in order to finance the below described public facilities. SECTION 3. PURPOSE OF BONDED INDEBTEDNESS. The purpose for the proposed bonded indebtedness is generally described as follows: To finance the construction, expansion, rehabilitation or purchase of certain facilities consisting of the types of facilities described in Exhibit A hereto; and appurtenances and appurtenant work and incidental costs as authorized pursuant to Government Code Section 53345.3. For a further description of such facilities, reference is made to the Resolution 19585 Page 2 Community Facilities District Report (the "Report") of McGill Martin Self, Inc., the special tax consultant, previously approved by this City Council, a copy of which is on file in the Office of the City Clerk. SECTION 4. TERRITORY TO PAY FOR B(:)NDED INDEBTEDNESS. This City Council determines that the whole of the District will pay for the above-referenced bonded indebtedness. A general description of the District is as follows: All property within the boundaries of COMMUNITY FACILITIES DISTRICT NO. 99-1 (OTAY RANCH SPA ONE - PORTIONS OF VILLAGE ONE, VILLAGE FIVE AND VILLAGE ONE WEST), as shown on a map as previously approved by the City Council, such map designated by the name of this District, a copy of which is on file in the Office of the City Clerk. SECTION 5. BOND AMOUNT. The amount of the proposed bonded indebtedness, including the cost of the facilities, together with all incidental expenses, shall not exceed ~60,000,000. SECTION 6. BOND TERM. This City Council hereby further determines that the maximum term of bonds and/or any series shall not exceed forty (40) years, and such bonds may be issued in differing series, at differing times. The maximum rate of interest to be paid on such bonds may not exceed the greater of either twelve percent (12%) per annum or the maximum rate permitted by law at the time of sale of any of such bonds. The bonds, except where other funds are made available, shall be paid exclusively from the annual levy of the special tax, and are not secured by any other taxing power or funds of the District or the City. SECTION 7. ELECTION. The proposition related to the incurring of the bonded indebtedness shall be consolidated with the proposition relating to the levy of the special tax, shall be combined into one ballot proposition, and shall be submitted to the qualified voters, together with a ballot proposition to establish an appropriations limit for the District, at a special election to be held on the 17th day of August, 1999, and such election shall be a special mailed ballot election to be conducted by the City Clerk (the "Election Official"). If the combined proposition for the levy of the special tax and the incurring of the bonded indebtedness receive the approval of more than two-thirds (2/3) of the votes cast on the proposition, bonds may be authorized, issued and sold for the purposes set forth herein and the special tax may be levied as provided in the Resolution of Formation. SECTION 8. BALLOT. The ballot proposal to be submitted to the qualified voters at the election shall generally be as follows: PROPOSITION A SHALL THE CITY OF CHULA VISTA COMMUNITY FACILITIES DISTRICT NO. 99-1 (OTAY RANCH SPA ONE - PORTIONS OF VILLAGE ONE, VILLAGE FIVE AND VILLAGE ONE WEST), COUNTY OF SAN DIEGO, 1 ) INCUR A BONDED INDEBTEDNESS IN AN AMOUNT NOT TO EXCEED $60,000,000 TO PAY FOR AUTHORIZED PUBLIC FACILITIES PURSUANT TO THE SPECIAL TAX FORMULA SET FORTH IN RESOLUTION NO. 195* *, 2) LEVY A SPECIAL TAX TO SECURE SUCH BONDED INDEBTEDNESS, PAY DIRECTLY FOR SUCH PUBLIC FACILITIES, REPLENISH ANY RESERVE FUND AND PAY COSTS OF ADMINISTERING SUCH BONDS AND SUCH DISTRICT? Resolution 19585 Page 3 PROPOSITION B SHALL THE CITY OF CHULA VISTA COMMUNITY FACILITIES DISTRICT NO. 99-1 (OTAY RANCH SPA ONE - PORTIONS OF VILLAGE ONE, VILLAGE FIVE AND VILLAGE ONE WEST) ESTABLISH AN ARTICLE XIIIB APPROPRIATIONS LIMIT EQUAL TO $60,000,0007 SECTION 9. VOTE. The appropriate mark placed in the voting square after the word "YES" shall be counted in favor of the adoption of the proposition, and the appropriate mark placed in the voting square after the word "NO" in the manner as authorized, shall be counted against the adoption of such proposition. SECTION 10. ELECTION PROCEDURE. The Election Official is hereby authorized to take any and all steps necessary for the holding of such election. The Election Official shall perform and render all services and proceedings incidental to and connected with the conduct of the election, which services shall include, but not be limited to, the following activities as are appropriate to the election: A. Prepare and furnish to the election officers necessary election supplies for the conduct of the election. B. Cause to be printed the requisite number of official ballots, tally sheets and other necessary forms. C. Furnish and address official ballots for the qualified electors of the District. D. Cause the official ballots to be delivered to the qualified electors or their authorized representatives, as required by law. E. Receive the returns of the election and supplies. F. Sort and assemble the election material and supplies in preparation for the canvassing of the returns. G. Canvass the returns of the election. H. Furnish a tabulation of the number of votes given in the election. I. Make all arrangements and take the necessary steps to pay all costs of the election incurred as result of services performed by the District and pay costs and expenses of all election officials. J. Conduct and handle all other matters relating to the proceedings and conduct of the election in the manner and form as required by law. Prepared by Approved as to form by Jo n P. Li M Kaheny ~ P orks Director ney Resolution 19585 Page 4 PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista, California, this 31 .t day of August, 1999, by the following vote: AYES: Councilmembers: Davis, Moot, Salas and Horton NAYS: Councilmembers: None ABSENT: Councilmembers: Padilia ABSTAIN: Councilmembers: None Sh~rl , ayor ATTEST: Susan Bigelow, City Cler~ STATE OF CALIFORNIA ) COUNTY OF SAN DIEGO ) CITY OF CHULA VISTA ) I, Susan Bigelow, City Clerk of Chula Vista, California, do hereby certify that the foregoing Resolution No. 19585 was duly passed, approved, and adopted by the City Council at a regular meeting of the Chula Vista City Council held on the 31 st day of August, 1999. Executed this 31't day of August, 1999.