HomeMy WebLinkAboutReso 1999-19587.__ RESOLUTION NO. 19587
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA
VISTA, CALIFORNIA, ACTING IN ITS CAPACITY AS THE
LEGISLATIVE BODY OF COMMUNITY FACILITIES DISTRICT NO.
99-1, AUTHORIZING THE ANNEXATION OF TERRITORY IN THE
FUTURE TO SUCH COMMUNITY FACILITIES DISTRICT
WHEREAS, the City Council has declared its intention, conducted proceedings and held
a public hearing relating to the authorization to annex territory in the future to a community
facilities district 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, and specifically Article 3.5 thereof. The existing Community Facilities
District is designated as COMMUNITY FACILITIES DISTRICT NO. 99-1 (the "District"); and,
WHEREAS, it has now been determined to be within the best public interest and
convenience to establish a procedure to allow and provide for future annexations to the
District and further to specify the amount of special taxes that would be levied in any territory
subject to future annexation, as well as setting forth the terms and conditions for certification
of any annexation in the future; and
WHEREAS, the territory proposed to be annexed in the future shall be known and
designated as COMMUNITY FACILITIES DISTRICT NO. 99~1 (FUTURE ANNEXATION AREA)
(the "Future Annexation Area"), and a map showing the territory in the Future Annexation
Area has been submitted and previously approved and a copy of said map is and shall be kept
on file with the transcript of these proceedings; and
WHEREAS, it has now been further determined that written protests have not been
received representing a majority protest against the future annexation proceedings.
NOW, THEREFORE, IT IS HEREBY RESOLVED AS FOLLOWS:
RECITALS
SECTION 1. The above recitals are all true and correct,
ANNEXATION AUTHORITY
SECTION 2. This legislative body does hereby authorize the annexation of the Future
Annexation Area in the future pursuant to the provisions and authorization of Section 53339.7
of the Government Code of the State of California.
PUBLIC CONVENIENCE AND NECESSITY
SECTIOI'J 3. This legislative body hereby determines that the public convenience and
necessity requires a procedure to allow and authorize the Future Annexation Area to be
annexed in the future to the District in order to pay the costs and expenses for the required
and authorized public facilities.
Resolution 19587
Page 2
BOUNDARIES
SECTION 4. A description of the boundaries and territory proposed to be annexed in the
future is as follows:
All that property and territory within the Future Annexation Area proposed to
be annexed in the future to the District, as said property is shown on a map as
previously approved by this legislative body, said map identified by the name
of the District and further designated as the Future Annexation Area, a copy of
which is on file in the Office of the City Clerk and shall remain open for public
inspection.
NAME OF DISTRICT
SECTION 5. The name of the District is COMMUNITY FACILITIES DISTRICT NO. 99-1, and
the designation for the Future Annexation Area shall be COMMUNITY FACILITIES DISTRICT
NO 99-1 (FUTURE ANNEXATION AREA).
FACI LITI ES
SECTION 6. A general description of the public facilities which this legislative body is
authorized by law to construct, own or operation, which are the facilities to be financed by
the District are generally described in Exhibit A attached hereto and incorporated herein by this "'-
reference.
No additional facilities will be necessary or provided in the Future Annexation Area and
the facilities as described for the District will serve the properties within the Future Annexation
Area.
SPECIAL TAXES
SECTION 7. It is the intention of this legislative body that, except where funds are otherwise
available, a special tax sufficient to pay for said facilities to be provided in the District and the
Future Annexation Area, secured by recordation of a continuing lien against all non-exempt
real property in the Future Annexation Area, will be levied annually within the boundaries of
the Future Annexation Area from and after the annexation of such property to the District.
The special taxes shall be those as originally authorized through the formation of the District
and adopted by Ordinance of this legislative body, and no changes or modifications are
proposed in the special taxes from those as originally set forth and made applicable to the
District,
For particulars as to the rate and method of apportionment of the proposed special tax
(the "Special Tax Formula"), reference is made to the attached and incorporated Exhibit "B,"
which sets forth in sufficient detail the method of apportionment to allow each landowner or
resident within the Future Annexation Area to clearly estimate the maximum annual amount
that said person will have to pay on said special tax.
This legislative body further authorizes that special taxes may be prepaid and satisfied
by payment of the prepayment amount calculated pursuant to the Special Tax Formula.
Resolution 19587
Page 3
The special taxes, to the extent possible, shall be collected in the same manner as ad
valorem property taxes and shall be subject to the same penalties, procedure, sale and lien
priority in any case of delinquency as applicable for ad valorera taxes; provided, however, the
District may utilize a direct billing procedure for any special taxes that cannot be collected on
the County tax roll or may, by resolution, elect to collect the special taxes at a different time
or in a different manner if necessary to meet its financial obligations.
ANNEXATION EFFECTIVE DATE
SECTION 8. Annexation of property in the future shall be effective only with the unanimous
approval of the owner or owners of each parcel or parcels at the time that any parcel is
proposed for annexation. Upon receipt of the written consent, no further public hearings or
additional election proceedings will be required.
VALIDITY OF PROCEEDINGS
SECTION 9. It is hereby further determined by this legislative body that all annexation
proceedings hereto were valid and in conformity with the requirements of law, and specifically
the provisions of the "Mello-Roos Community Facilities Act of 1982".
NOTICE
SECTION 10. Immediately upon the receipt of a property owner consent and the certification
of the annexation proceedings and approval of such annexation by the City Council, a notice
of the annexation shall be recorded in the Office of the County Recorder as required by
Section 53339.8 of the Government Code of the State of California.
Prepared by Approved as to form by
Resolution 19587
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
S h~Mayor'~
ATTEST:
Susan Bigelow, City Clerk
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. 19587 was duly passed, approved, and adopted by the City Council at a
regular meeting of the Chula Vista City Council held on the 31 .t day of August, 1999.
Executed this 31't day of August, 1999.
Susan Bigelow, City Cler~
)
,--- ~ E~'n!RIT A :)
CITY OF CHULA VISTA
COMMUNITY FACILITIES DISTRICT NO. 99-1
(Otay Ranch SPA One- Portions of Village One, Village Five and Village One West)
RATE AND METHOD OF APPORTIONMENT
CITY OF CItU'LA VISTA
COMMUNITY FACII;1TIES DISTRICT NO. 99-1
(OTAY RANCH SPA ONE -
PORTIONS OF VILI.AGE ONE, VII.I,AGE FIVE AND VII .I .&GE ONE WEST)
RATE AND METHOD OF APPORTIONMENT
OF SPECIAL TAX
A Special Tax as beminafter defined shidl be levied on all Taxable Property within the City of
Chula Vista Community Facilities District No. 99-1 ("CFD No. 99-1 ") and collected each Fiscal
Year commencing in Fiscal Year 2000-2001, in an mount determined by the City Council
through the application ofthe'appropriate Special Tax for "Developed Property", "Taxable
Property Owner Association Property", and "Undeveloped Property" as described below. All of
the real property in CFD No. 99-1, unless exempted by law or by the provisions hereof, shall be
taxed for the purposes, to the extent and in the manner herein provide{[
A. DEFINITIONS
The terms here/halter set forth have the following meanings:
"Acre or Acreage" means the land area of an Assesso~'s Parcel as shown on an Assessor's
Parcel Map, or if the land area is not shown on an Assessors Parcel Map, the land area
shown on the applicable final map, parcel map, condomimum plan, record of survey, or other
recorded document creating or describing the parcel. ff the preceding maps are not available,
the Acreage shall be determined by the City Endricer.
"Act" medns the McHo-Roos Comm~mity Facilities Act of 1982, as mended, being Chapter
2.5, Division 2 of Title 5 of the Government Code of the State of California.
"Administrative Expenses" means the following actual or reasonable estimated costs
directly related to the administration of CFD No. 99-1, including but not limited to, the
following: the costs of computing the Special Taxes and preparing the annual Special Tax
collect/on schedules (whether by the City or designee thereof or both); the costs of collecting
the Special Taxes (whether by the County, the City, or otherwise); the costs of remitting the
Special Taxes to the Trustee; the costs of the Trastce (including its legal counsel) in the
discharge of the duties required of it under the Indenture; the costs to the City, CFD No. 99-1
or any designee thereof of complying with arbitrage rebate requirements; the costs to the
City, CFD No. 99-1 or any designee thereof of complying with City, CFD No. 99-1 or
obligated persons disclosure requirements associated with applicable federal and state
securities laws and of the Act; the costs associated with preparing Special Tax disclosure
statements and responding to public inquiries regarding the Special Taxes; the costs of the
City, CFD No. 99-1 or any designec thereof related to an appeal of the Special Tax; the costs
of any credit e~ancement obtained by the City or CFD No. 99-1 (but excluding the costs of
any credit enhancement required to be provided by the Master Developer or any other owner
of property within CFD 99-1), and the costs associated with the release of funds from an
escrow account, if any. Administrative Expenses shall also include mounts estimated or
advanced by the City or CFD No. 99-1 for any other adminislrative purposes of CFD No.
I, inclvding attomey's fees and other costs relatedto commencing and pursuing to
completion any foreclosure of d~linquent Special Taxes.
"Annexation Parcels" means those specific Assessox~s Parcels that am subject to future
annexation into CFD No. 99-1 as depicted in Exhibit B attached heroin. Any Annexation
Parcels that annex to CFD No. 99-1 will be subject to the Maximum Annual Special Tax and
the Backup Special Tax of the zone of CFD 99-1 within which such Annexation Parcel is
located and the appropriate land use categoPj of CFD No. 99-1 to which such Annexation
Parcel.
"Assessor's Parcel" means a lot or parcel shown in an Assessor~s Parcel Map with an
assigned Assessor's Parcel nmber.
"Assessor's Pareel Map" means an official map of the County Assessor of the County
designating parcels by Assessors Parcel number.
"Available Funds" means the balance in the reserve fund established pursuant to the terms
of the Indenture in excess of the reserve requirement as defined in such Indenture, delinquent
special tax payments, foreclosure proceeds, the portion of proceais of Backup Special Tax
payments and Special Tax propayments collect~ to pay interest on Bonds, and other sources
of funds available as a credit to the Special Tax Requirement as specified in such Indanure.
"Backup Special Tax" means the Special Tax that is required to be paid as a condition
precedent to the issuance of building permits or recorclation of GriM maps, as determined in
accordance with Section E below.
"Bonds" means any bonds or other debt (as defined in the Act), whether in one or more
series, issued by CFD No. 99-1 under the Act and secured by the levy of the Special Taxes.
"CFD Administrator" means an official of the City acting for and on behalf of CFD 99-1,
or designee thereof, responsible for determining the Special Tax Requirement and providing
forthe levy and collection of the Special Taxes.
"CFD No. 99-1" means City of Chula Vista Community Facilities District No. 99-1 (0 tay
Ranch SPA One - Portions of Village One, Village Five, and Village One West), as depicted
in Exhibit A.
"City" means City of Chain Vista.
City ofChula Fista August 17. 1999
Community Facilities District No. 99-1 Page 2
"Commercial Property's means all Assessots Parcels of Developed Property for which a
building permit(s) was issued for a non:residential use, excluding Community Purpose
Facility Property..
"Community Purpose Facility Property" means all Assossoes Parcels of Developed
Property, which are classified as community purpose facilities and meet the requirements of
City of Chula Vista Ordinance No. 2452.
"Council" means the City Council of the City, acting as the legislative body of CFD No.
99-1.
"County" means the County of San Diego.
"Developed Property" means, for each Fiscal Year, all Taxable Property, exclusive of
Taxable Property Owner Association Property, for which a building permit for new
construction was issued prior to March 1 of the prior Fiscal Year.
"Development Projection" means an annual calculation for each Planning Area of CFD No.
99-1 of: (i) the number and total Residential Floor Area of existing dwelling umts of
Residential Property, the number of existing Acres of Commercial Property, and the number
of existing Acres of Community Purpose Facility Property, and (ii) a projection of all future
development, including the acreage, projected number of residential dwelling units, projected
Residential Floor Area, projected Commercial Property Acres, projected CommnRity
Purpose Facility Property Acres, and an absorption schedule for all future development
within CFD No. 99-1. The Development Projection shall be dated as of March 1 and
prepared each Fiscal Year by the Master Developer. Upon submittal, the CFD AdminishaWr
shall review, modify if necessary, and approve the Development Projection. If the
Development Projection is not received by the CFD administrator on or before April 1 of
each year, the CFD Administrator shall then prepare or came to be prepared a Development
Projection.
"Final Residential Subdivision" means a subdivision of property created by recordation of
a final map or parcel map, approved by the City pursuant to the Subdivision Map Act
(California Government Code Section 66410 et seq. ), recorclation of a lot line adjttsUnent
approved by the City which creates a parcel for which a building permit may be issued or
reeordation ofa condominium plan pursuant to California Civil Code 1352 that creates
individual lots for which residential building permits may be issued Without further
subdivision of such property.
"Fiscal Year" means the period starting July 1 and ending on the folloWing Jane 30.
"Indenture" means the indenture, fiscal agent agreement, trust agreement, resolution or
other instrument pursuant to which Bonds are issued, as modified, eraended and/or
supplemented fi'om time to time, and any instrament replacing or supplementing the same.
Ci~ ofCImla l~sta
Communi.ty Facilities District ,Vo, 99-1 August 17. 1999
Page 3
"Land Use Class" means any of the classes listed in Tables 1, 2, and 3 of Section C. "~
"Master Developer" means the owner or owners of the pt'edominant amount of
Undeveloped Property in CFD No. 99-1.
"M. tzimum Annual Special Tax" means the maxhnum annllsll Spe~i~ Ta,v,., deteTllrlined i(1
accordance with the provisions of Section C below, that may be levied in any Fiscal Year on
any Assessors Parcel of Taxable Property.
'Occupied Residential Property" means all Assessors Parcels of Residential Property,
which have closed escrow m an end user.
"Outstanding Bonds" means all Bonds, which remain ou~hmtllnS:
"Planning Areas" means those areas shown on Exhibit C. Minor adjustments in the
boundaries of the Planning Areas may be made by the CFD Arlmin~h~or to conform to the
tentative and final maps, lot line adjustmere or other property line adju.~hucnt approved by
the City for these areas. The Planning Areas in Exhibit C existing at the time of formation of
CFD No. 99-1 may be expanded to include Annexation Parcels fi'om time to time or
Rdcl~tiolml Planning Areas may be established to include Annexation Parcels f~om time to
time.
"Property Owner Association Property" means any property within the boundaries of
CFD No. 99-1 owned by or dedicated to a property owner association, including any master
or sub-essociation.
"Proportionately" means for Developed Property that the ratio of the actual Sl~cial Tax
levy to the Maximum Anmml Special Tax is equal for all Assessors Parcels of Developed
Property within CFD No. 99-1. For Undeveloped Property, '?roportionat~ly' means that the
ratio of the actual Special Tax levy per Acre to the Maximum Annual Special Tax per Acre is
equal for all Assessor's Parcels of Undeveloped Property within CFD No. 99-1.
"Public Property." means any property within the boundaries of CFD No. 99-1 that is used
for rights-of-way or any other purpose and is owned by or dedicated to the f~Icral
government, the State of California, the County, the City or any other public agency.
"Residential Property" means all Assessors Parcels of Developed Property for which a
building permit has been issued for purposes of consWacting one or more residential dwellii'lg
"Residential Floor Area" mc~_ns all of the squaw footage of living area within the perimeter
of a residential su'ucture, not including any carport, walkway, garage, overhang, patio,
enclosed patio, or similar area. The determination of Residential Floor Area shall be made
City of CImla Vista August 17, 1999
Comm~ni.n, Fadlilies Disrdct Aro. 99- I page 4
by reference to appropriate records kept by the City's Building Depaa'unent. Residential "'-
Floor Area will be based on the building permit(s) issued for each dwelling unit prior to it
being classified as Occupied Residential Properly, and shall not Change as a restfit of
nttrtifions or modifications made after such classification as Occupied Residential Property.
"Special Tax" mean~ the: (i) armual special tax to be levied in each Fiscal Year on each
Assessoes Parcel of Taxable Property to fund the Special Tax Requirement pursn~-t m
Section D, and (ii) the Backup Special Tax required to be paid as a result of changes in
development
"Special Tax Requirement" me-an~ that mount required in any Fiscal Year for CFD No.
99-1 to: (i) pay annllal debt sendee on all Outstanding Bonds as defined in Section A; (ii) pay
periodic costs on the Bonds, including but not limited to, credit enhancement and rebate
payments on the Bonds; (iii) pay Administrative Expenses; (iv) pay any mounts required to
establish or replemsh any reserve funds for all Outstanding Bonds in accordance with the
Indenture; (v) and pay directly for acquisition and/or construction of facilities, which are
authorized to be financed by CFD No. 99-1; (vi) less a credit for Available Fends.
"State" means the State of California.
"Taxable Property" mean~ all of the Assessor's Parcels within the botlndaxies of CFI) No.
99-I which are not exempt from the Special Tax pursuant to law or the provisions of
Section F below.
"Taxable Property Owner Association Property" means all Assessors Pamcis of Property
Owner Association Property that are not exempt pursuant to the provisions of Section F
below.
"Trustee" means the trustee, fiscal agent, or paying agent under the Indenture.
"Undeveloped Property" means, for each Fiscal year, all Taxable Property not classified as
Developed Property or Taxable Property Owner Association Property.
"Zone A" applies only to Developed Property, and means a specific geographic location
known as the Village One area as depicted in Exhibit A attached herein.
"Zone B" applies only to Developed Properly, and means a specific geographic location
known as the Village Five area as depicted in Exhibit A attached herein.
"Zone C" applies only to Developed Property, and means a specific geographic location
known as the Village One West area as depicted in Exhibit A attached herei
C i .tv of Chula F~sta August 17, 1999
C ommtmt~ Facilities Dismet N o. 99~ 1 Page 5 .-
I-'- ~ B. ASSIGNMENT TO LAND USE CATEGORIES °'~
Each Fiscal Year, all Taxable Property within CFD No. 99-1 shall be classified as Developed
Property, Taxable Property Owner Association Property, or Undeveloped Property, and shall
be subject to the levy of annual SFeeial Taxes determined ptll~mnt tO Sections C and D
below. Developed Property shall further be assigned to Zone A, Zone B, or Zone C.
The Maximum Annual Special Tax for an Assessors Parcel of Residential Property shall be
based on the Residential Floor Area and the number of the dwelling units located on such
Assessufs Parcel. The Maximum Annual Special Tax for an Assessor's Parcel of
Commercial Property an ~d Commuaity Purpose Facility Property shall be based on the
Acreage of such Assessor~s Parcel.
C. MAXIMUM ANNUAL SPECIAL TAX RATE
1. Developed Property
The Maximum Annual Special Tax for each Land Use Class of Developed Property
within Zone & Zone B, or Zone C shall be the applicable amount shown on Tables 1, 2,
and 3 below. The Maximum Annual Special Tax for each Assessor's Parcel of
Residential Property shall equal the specified amount per dwelling unit limes the number
.-- of dwelling units on such Assessors Parcel plus the specified amount per square foot
times the square footage of Residential Floor Area on such Assessor's Parcel.
TABLE 1
Maximum Annual Special Tax for Developed Property in Zone A (Village One)
Community Facilities District No. 99-1
Land Use Maximum
Class Description
I Residential Properly $0 per dwelling unit + $.28 per
square foot of Residential Floor
Area
2 Commercial Property $1,600 per ACre
3 Community Purpose Facility $400 per Acre
Property
Ci(y ofChula Vista August 17, 1999
Communi.ty Facilities Dist~ct I~'o. 99-1 Page 6
,TABLE 2
Maximum Annual Special Tax for Developed Property in Zone B (Village Five)
Community Facilities District No. 99-1
Land Use Max~num Anmla] Special
Class Description Tax
1 Residential Property $400 per dwelling unit + $.29
per square foot of Residemial
Hoor Area
2 Commercial Property, $3,717 per A~re
3 Comm:ll~i~3f, Purpose Facility Property $929 per Acre
TABLE 3
Maximum Annual Special Tax for Developed Property in Zone C (Village One West)
Community Facilities District No. 99-1
Land Use /VIaxLram Annual Special
Class Description Tax
1 Residential Property $400 per dwelling unit + $.44
per square foot of Residential
Floor Area
2 Commercial Property $4,266 per Acre
3 Community Purpose Facility Propen'y $1,066 per Acre
2. Undeveloped Property and Taxable Property Owner Association Property
The Maximum Annual Special Tax for each Assessors Parcel classified as Undeveloped
Property and Taxable Property. Owner Association Property shall be $8;864 per Acre.
D. METHOD OF APPORTIONMENT OF TH]~ SPECIAL TAX
Cornxnencing with Fiscal Year 1999-2000 and for each following Fiscal Year, the
Council shall determine or cause to be determined the Special Tax-Requiremere and shall
determine or cause to be determined the applicable manual Special'Tax so that the mount
of Special Taxes equals the Special Tax Requirement for such Fiscal Year. The annual
Special Tax shall be calculated and levied each Fiscal Year as follows:
First: The Special Tax shall be levied Proportionately on each Assessors Parcel of
Developed Property within Zone A, Zone B, or Zone C at up to 100% of the applicable
Maximum Annual Special Tax ~o satisfy the Special Tax Requirement.
City ofCImla I~sla
Community Facilities District Mo. 99-1 ,eatgust 17. 1999
Page7
Second: If additional moneys are needed to satisfy the Special Tax Requirement after the
first step has been completed, the Special Tax shall be levied Proportionately on each
AssessoPs Parcel of Undeveloped Property at up to 100% of the Maximum Annual
Special Tax for Undeveloped Property.
Third: ff addilional moneys arc needed to ~u~cy the Special Tax Rextui~ment after the
fixst two steps have been completed, then the Special Tax shall be levied Proportionately
on each Assessors Parcel of Taxable Proper0r Owner Association Property and Public
Property, ff applicable, as provided for in Section F at up to the Maximum Annul
Special Tax for Taxable Property Owner Association Property and Public Property, if
applicable.
Notwithstanding the above, under no circmngtances will the Spe~al Tax levied a~a~in~t
any AssessoPs Parcel of Occupied Residential Property be increased by more than ten
percent per year as a consequence of delinquency or default in the payment of Special
Taxes by the owner of any other AssessoPs Parcel of CFD No. 99-1.
E. BACKUP SPECIAL TAX
The following definitions apply to this Section E:
"Actual Avenge Special Tax Per Unit" means, for each Planning Area, the Actual
Special Tax Revenue divided by the sum of the number of units included in any current
building permit application(s) plus the number of units within such Planning Area for
which building permits have previously been issue& Any Residential Floor Area created
by building permits issued after an Assesses Parcel has been classified as Occupied
Residential Property shall not be included in determining the Actual Avenge Special Tax
Per Unit.
"Actual Special Tax Revenue" means, for each planning Area, the sum of the total
Residential Floor Area shown on any current building permit application(s) plus the total
Residential Floor Area from any previously issued building permits within the Planning
Area multiplied by the applicable Maximum Annual Special Tax. Any Residential Floor
Area created by building permits issued after an AssessoPs Parcel has been classified as
Occupied Residential Property shall not be included in determining the Actual Special
Tax Revenue.
"Backup Special Tax Fund" means, for each Planning Area, the fund or account
identified in the Indenture to hold Backup Special Tax paymenU received from property
owners within such Planning Area,
"Expected Special Tax Revenue" means, with respect to each Planning Area, the
amount shown in the column so labeled in Tables 4, 5, and 6.
Cit), of Chula Ifista August 17~ 1999
Community Facilities District No. 99-1 page 8
"Required Average Special Tax Per Unit]Acre" means, for each Planning Area, the
Expected Special Tax Revenue divided by the total expected number of dwelling units or
non-residential Acres (as applicable) expected to be developed within the Planning Area,
as detexmined by the CFD Admini~i~ator based on temative maps, Final Residential
Subdivision maps, the Development Projection, and all other relevant information
available to the CFD ActminisWator. In cases where residential and non=residential
property are both nicluded within a P]Rnning Area, the C~D Admini~'ator may adjust the
Required Average Special Tax Per Unit]Acre as necessary.
"Share of Annual Debt Service" means, for ~ach Planning Area, the maximum annual
debt sewice on the Bonds multiplied by that Planning Area's percentage of the total
Special Tax rcvcnuc,.as shown in Table 4, 5, and 6 below. A Planning Ar~a's Share of
Annual Debt Service shall be adjus~d to reflect any prepaymcnts within that Planning
1. Expected Development and Special Tax Revenues
Tables 4, 5, and 6 below identify the amount of development and Special Tax revenue
that is currently expected from each Planning Ar~a in Zone A, Zone B, or Zone C.
Tables 4, 5, and 6 may be revised by the CFD Administrator if the Planning A~a
boundaries arc modified as a result of the annexation of Annexation Parcels to CFD
99-1 or otherwise.
The owner of the Annexation Parcels, upon such annexation, shall provide the CFD
Administnnor the total number of residential units or the total number of non-
residential Acres, and the total Residential Floor Ar~ cx'p~ to be developed
within the land area of such Annexation Parcels. The CFD AdrninisWator shall utilize
this information to modify Tables 5 and 6 to include the additional Expected Special
Tax Revenue, and to rccalculatc the percent of to~al revenue for each Planning Area.
TABLE 4
Expected Development and Special Tax Revenue by Planning Area within Zone A
Community Facilitim District No. 99-1
NUMBER EXPECTED
OF TOTAL SPECIAL PERCENT
PLANNING EXPECTED UNITS/ RESIDEN'IIAL TAX OF TOTAL
AREA PRODUCT TYPE ACRES FLOOR AREA REVENUE REVENUE
R-6 Residgntial Propexty 77 units 179,872 50,364 5.07%
R-7 ResidentialProperty 131 units 411,078 115,102 11.58%
R-9 Residential Property 74 units 182,928 51~220 5.15%
R-10 Resideatial Pt;ope~. 123 units 324,351 90,818 9.14%
R-12 Residential Property 83 units 168,988 47,317 4.76%
R-13 Residential Property 88 units 146,256 40,952 4.12%
R-14 Residential Property 139 units 215,589 60,365 6.07%
R-15 Residential Property 464 units .464,000 129,919 13.070/o
R-16 Residential Property 115 units 178,365 49,942 5.02%
R-17 Residential Property 98 traits 199,528 55,868 5.62%
R-18 Residential Property 74 units 122,988 34,437 3.46%
R-19 Residential Property 204 units 204,000 57,120 5.75%
R-20 Residential Property 160 units 160,000 44,800 4.51%
R-21 Residential Property 168 units 168,000 47,040 4.73%
R-47 Residential Property 174 units 174,000 48,720 4.90%
R-48 ResidentialProperty. 96 units 195,456 54,728 5.51%
C-I Commercial 8.1 acres N/A 12,960 1.30%
Property
CPF-1 Commullity Purpose 1.5 acres N/A 600 0.06%
Facility Property
CPF-2 Commullity Purpose 4.5 acres N/A 1,800 0.18%
Facility Property
TOTAL 2,268 units $994,072 100.00%
Ci~ of Chula ~sta August 17. 1999
Comrnuni,ty Facilities District No. 99-1 Page 10
'i TABLE 5 .__, ~
Expected Development and Special Tax Revenue by Platoring Area within Zone B
Community Facilities District No. 99-1
NUMBER EXPECTED
OF TOTAL SPECIAL PERCENT
PLANNING EXPECTED UNITS/ RESIDENTIAL TAX OF TOTAL
AREA PRODUCT TYPE ACRES FLOOR AREA REVENUE REVENUE
R-25 Residential PropeW/ 48 units 150,624 62,881 6.23%
R-26 Resi&idal Property 52 units 137,124 60,566 6.00%
R-27 Resickmtial Property 37 units 75332 36,646 3.63%
R-28 Residential Property 56 units 93,072 49,391 4.89%
R-29 Residential Property 83 units 128,733 70,533 6.98%
R-30 Residmial Property 119 units 197,778 104,956 10.39%
R-31 Residential Property 71 units 144,556 70,321 6.96%
R-32 Residential Property 105 umts 259,560 117272 11.61%
R-33 Residential Property 47 units 123,939 54,742 5.42%
R-34 Residential Propen'ty 35 units 92295 40,766 4.04%
R-35 Residential Property 36 units 112,968 47,161 4.67%
R-36 Residential Property 62 units 153,264 69247 6.86%
R-37 Residential Property 60 units 99,720 52,919 5.24%
R-38 Residential Property 43 units 87,548 42,589 4.22%
R-39 Residential Property 182 units 182,000 125,579 12.43%
CPF-5 Commllitity Purpose 4.7 acres N/A 4,366 0.43%
Facility Property
TOTAL 1,036 units $1,009,935 100.00%
Cit~ ofChula Vista /~8ust 17. 1999
Comraundty Facilities District No. 99-I Page I ]
TABLE 6
Expected Development and Speeini Tax Revenue by Planning Area within Zone C
Community Facilities District No. ~-1
NUMBER EXPECTED
OF TOTAL SPECIAL PERCENT
PLAlqN'ING EXPECTED UNITS/ RESIDENTIAL TAX OF TOTAL
AREA PRODUCT TYPE ACRES FLOOR AREA REVENUE REVENUE
R-49A Residential Property 88 taxits 179,168 $114,034 9.91%
R-50 Residential Property 86 units 212,592 127,940 11.12%
R-51A Residential Property 66 units 174,042 102,978 8.95%
R-52A Residential Property 69 units 216,522 122,870 10.67%
R-53 Residential Property 36 units 112,968 64,106 5.57%
R-54A Residential Property 9 units 18,324 11,663 1.01%
R-55 Residential Property. 57 units 116,052 73,863 6.42%
R-56 Residential Property 77 umts 169,400 105,336 9.15%
R-57 Residential Property 22 units 54,384 32,729 2.84%
R-58 Residential Property 102 units 320,076 181,633 15.78%
R-59 Residential Property 55 units 145,035 85,815 7.46%
R-60 Residential Property 86 umts 212,592 127,940 11.12%
TOTAL 753 units $1,150,907 100.00%
2. Caiculation ofRequired Average Special Tax Per Uait/Acre
At the time the first building permit application for a Planning Area is submitted to the
City, the CFD AdminisUator shall calculate the Required Average Special Tax Per
Uuit/Acre.
3. Backup Special Tax due to Loss of Units/Acres
If at any time after the Required Average Special Tax Per Unit/Acre has been calculated
initially for a Planning Area, the CFD Administrator determines that based on tentative
maps, Final Residential Subdivision maps, the Development Projection, and any other
available information there has been a reduction in the total expected number of dwelling
units or non-residential Acres within that Planning Area, then a Backup Special Tax
payment shall be required for each lost unit or Acre prior to the issuance ofeny additional
building permits or the recordation of any additional final maps for such Planning Area.
City of Chula Vista l. ug~tst 17, 1999
Community Facilities District No. 99-I Page 12
" I
4. Backup Special Tax due to Loss of Residential Floor Area
For Planning Areas that include Residential Property, before each building permit (or
group of permits) is issued, the CFD AdminiShator shall calculate the Actual Avenge
Special Tax Per Unit for the Planning Area. Efthe Actual Average Special Tax Per Unit
is less than the Required Average Special Tax Per Unit then a Backup Special Tax
paymen will be required prior to issuance of the building permit(s) included within the
calculation
5. Calculation of Backup Special Tax
The Backup Special Tax payment amount will be calculated using the lorepayment
formula described in ~eetion I. 1, with the following exceptions: (i) if the Backup Special
Tax is required as a result of Section E.3, then the amount used in Paragraph No. 1 of the
prepayment formula described in Section El shall equal the number of lost units or
Acres, as applicable, times the Required Average Special Tax Per Unit/Acre. In the
event Residential Property as identified In Tables 4, 5, and 6 is rezoned in whole or part
to non-residential property, the CFD Administrator shall determine the Maximam Anmml
Special Tax revenue by using the Developed Property rates applicable to such non-
residential property and the amount so derived shall be applied as a reduction to the
amount determined in the preceding sentence; (ii) ff the Backup Special Tax is required
as a result of Section E. 4, then the amount used In Paragraph No. 1 of the prepayment
formula described in Seelion I. 1 shah equal the difference between the Actual Average ~'--
Special Tax Per Unit and the Required Average Special Tax Per Unit times the sum of
the number of units for which permits are being issued plus the number of units within
the Planning Area for which building permits have previously been issued. The amount
determined pursuant to the preceding sentence shall be reduced by the balance in the
Backup Special Tax Fund that has been established for such Planning Area; (iii) in
Paragraph No. 7 of the prepayment formula described In Seelion I.I, eompnte the amount
needed to pay interest on the Bond Redemption Amount until the fixst redemption date
that occurs after five years from the date of the first Backup Special Tax payment in the
Planrang Area; (iv) any Backup Special Tax payments received for a Planning Area (less
Administrative Fees and Expenses) shall be deposited into the Backup Special Tax Fund
for that Planning Area and disbursed pursuant to the Indenture; and (v) the Maximum
Annual Special Taxes applicable to property within a Planning Area shall not be reduced
or relieved as a result of payment of the Backup Special Ta~
6. Use/Release of Backup Special Tax Payments
When a Planning Area roaches full buildout (i.e., all expected building permits have been
issued), the CFD Administrator shall calculate the actual Developed Property Maximum
~6amual Special Tax revenues that will be generated from such Planning Are~ Efthe
ac.~ml Developed Property Maximum Annual Special Tax revenues are greater than or
equal to 1.1 times that Planning Area's Share of Annual Debt Ser~ice, the balance in the
City of Chula } ~sta
CommunitF Facilities District Aro. 99-1 August 17, 1999
Page 13
~ Backup Special Tax Fund shall be returned to the payer. If Backup Special Taxes have .':
been paid by more than one entity; the mount of Bactmp Special Taxes returned to each
payer shall be in proportion w the mount paid by each entity. If the actual Developed
Propen'y Maximum Annual Special Tax revenues are less than 1.1 times that plnnning
Ama's Sham of Annual Debt Service, then to the extent neeessavj to generate 110%
coverage, the balance in the Backup Special Tax Fund shall be used to nxleem bonds on
the next available redemption date. Any moneys remaining in Backup Special Tax Fund
shall be returned to the payer. If a playnine Area has not reached full buildout within
five years after the first payment of Baclmp Special Taxes for such p]annin,,~ Area, then
all moneys in the Baclmp Special Tax Fund shall be used to redeem bonds on the next
available redemption date.
F. EXEMPTIONS
No Special Tax shall be levied on: up to 517.5 Acres of property Owner Association
Property and Public Property. Tax-exempt status will be irrevocably assigned by the CFD
Administrator in the chronological order in which property becomes Property Owner
Association Property or Public Properly.
After the limit of 517.5 exempt Acres has been reached, the Maximum/~,nnllal Special Tax
obligation for any additional Public Pwperty shall be prepaid in full pursuant to Section 1.1,
prior to the tran~fer/declication of such property. Until the Maximum Annual Special Tax
obligation for any such property is prepaid, the property shall continue to be subject to the
levy of the Special Tax as Undeveloped Property.
Taxable Property Owner Association Property shall be subject to the levy of the Special Tax
Underdeveloped Property and shall be taxed Proportionately as part of the third step in
Section D above, at up to 100% of the Maximum Annual Special Tax for Taxable Property
Owner Association Property.
G. REVIEW/APPEAL COMMITTEE
The Council shall establish as pan of the proceedings and administration of CFD No. 99-1 a
special three-member Review/Appeal Committee. Any landowner or resident who feels that
the amount of the Special Tax levied on their Assessor's parcel is in error may file a written
notice with the Review/Appeal Committee appealing the amount of the Special Tax levied on
such Assessors Parcel. The Review/Appeal Cornmince may establish such procedures, as it
deems necessary to undertake the re~ jew of any such appeal. The Review/Appeal
Committee shall interpret this Rate and Method of Apponioument and make determinations
relative to the annual administration of the Special Tax and any landowner or resident
appeals as herein specified. The decision of the Review/Appeal Committee shall be final and
binding as to all persons.
August 17. 1999
C i .ty of Chula Fista page 14
Comrauni(v Facilities District :Vo. 99-1
H. MANNER OF COLLECTION --~
The annual Special Tax shall be collected in the same manner and at the same time as
ordinary advalorem property taxes; provided, however, that CFD No. 99-1 may directly bill
the Special Tax, may collect Special Taxes at a different time or in a different mnnner if
llecessary to meet ils finnncial obli~ons, and tony covellailt to foreclose and may actually
foreclose on Assessors Parcels, which are delinquent in the payment of Special Taxes.
Tenders of Bonds may be accepted for payment of Special Taxes upon the terms and
conditions established by the Council pursuant to the Act. However, the use of Bond tenders
shall only be allowed on a ease-by-case basis as specifically allproved by the Council.
L PREPAYMENT OF SPECIAL TAX
The following definitions apply to this Section I:
"CFD Public Facilities means either $31.6 million 1999 dollars, which shall increase by the
Construction Inflation Index on July I, 2000, and on each July 1 thereafter, or such lower
number as (i) shall be determined by the CFD Administrator as sufficient to proVide the
public facilities under the authorized bonding program for ~ No. 99-1, or (ii) shall be
determined by the Council concurrently with a covenant that it will not issue any more Bonds
to be supported by Special Taxes levied under this Rate and Method of Apportionment as
described in Section D.
"Construction Fund"means an account specifically identified in the Indentlife to hold
funds that are curren~y available for expenditure to acquire or construct public facilities
eligible under the Act.
"Construction Inflation Index" means the annual percentage change in the Engineering
News-Record Building Cost Index for the City of Los Angeles, measured as of the calendar
year, which ends in the previous Fiscal Year. In the event this index ceases to be published,
the Construction Inflation Index shall be another index as determined by the CFD
Administrator that is reasonably comparable to the Engineering New-Record Building Cost
Index for the City of LOS Angeles.
"Future Facilities Costs" means the CFD Public Facilities minus public facility costs
available to be funded through existing construction or escrow accounts or funded by the
Outstanding Bonds as defined in Section & minus public facility costs funded by interest
earnings on the Constraction Fund actually earned prior to the date of !0repayment, and minus
public facilities costs paid directly with Special Taxes.
"Outstanding Bonds" means all previously issued Bonds, which will remain outstanding
after the first roterest and/or principal payment date following the current Fiscal Year,
Ci~ ofChula ~ista ,4u~tst 17, 1999
Comrtmni~ Facilities District No. 99-1 Page 15
excluding Bonds to be redeemed at a later date with the proceeds of prior prepayment of
Maximum Annual Special Taxes.
1. Prepayment in Full
The Maximum Annual Sp~c'tal Tax obligation may only be prepaid and permanently
satisfied by an Assessors Parcel of Developed Property, Und~lopeNi Propert7 for which
a building permit has been issued, or Public Property. The Maximum Annual Special
Tax obligation applicable to such Assessor's Parcel may be fully prepaid and the
obliption of the Assessor's Parcel to pay the Spec'utl Tax permanently sati~ed as
described herein; provided that a prepayment may be made only if there are no delinquent
Special Taxes with respect to such Assessors Parcel at the time of prepayment An
owner of an Assessors Pared intending to prepay the Maximum Annual Special Tax
obli~oafion shall provide the CFD Administrator with written notice of intent to lyrepay.
Within 30 days of receipt of such wriUen notice, the CFD Admini.~tor shall notify such
owner of the prepayment mount of such Assessors Parcel. The CFD Admini~Uator may
charge a reasonable fee for providing this figure. Prepayment roust be made not less than
45 days prior to the next occurring date that notice ofrederoption of Bonds from the
proceeds of such prepayment may be given to the Trustee pursuant to the Indenture.
The P~payment Amount (defined below) shall be calculated as summarized below
(capitalized rex'ms as defined below):
Bond Redemption Amount
plus Redemption Premium
plus Future Facilities Amount
plus Defeasance Amount
plus Administrative Fees and Expenses
less Reserve Fund Credit
less Capitalized Interest Credit
Total: equals Prepaymem Amount
As of the proposed date of prepayment, the Prepayment Amount (defined below) shall be
calculated as follows:
Paragraph No.:
1. For Assessor~s Parcels of Developed Property, compute the Maximum Annual Special
Tax for the Assessors Parcels to be prepalcL For Assessor's Parcels of Undeveloped
Property m be prepaid, compute the Maximum Annual Spee'ml Tax forthat Assessor's
Parcel as though it was already designated as Developed Property, based upon the
building permit, which has already been issued for that Assessors Parcel. For
Assessors Parcels of public Property to be prepaid, compute the Maximum Annual
Special Tax for that Assessors Parcel.
City of Cilia F#sta Aug~tst 17, 1999
Comm~mity Facilities District l~ro. 99-1 Page 16
2. Divide the Maximum Anntla] Special Tax computed pursuant to paragraph 1 by the
sum of the total expected Special Tax revenues in Tables 4, 5, and 6 in Section E,
~xclnding any Assessors Parcels, which have been prgtmicL
3. Multiply the quotient computed pursnnnt to paragraph 2 by the Out~kalding Bonds t0
compute the mount of Outstanding Bonds to be retired and prepaid (the "Bond
Redemption ilraount '~.
4. Multiply the Bond R~leanption Amount computed pungent to paragraph 3 by the
applicable redemption premium, if any, on the Outsmdln~ Bonds to be redeemed
(the "Redemption .~Premilgn'~.
5. Compute the Future Facilities Costs.
6. Multiply the quotient computed pursuant to paragraph 2 by the mount determined
pursuant to paragraph 5 to compute the mount of Future Facilities Costs to be
prepaid (the "Future Facilities Amount'~.
7. Compute the mount needed to pay interest on the Bond Redemption Amount f~om
the lust bond interest and/or principal payment date following the current Fiscal Year
until the earliest redemption date for the Outstanding Bonds.
8. Confirm that no Special Tax delinquencies apply to stmh Assessors Parcel
9. Determine the Special Tax~s levied on the Assessors Parcel in the ourrent Fiscal
Year, which have not yet been paid.
10. Compute the minimum umoont the CFD Admini.,h-ator reasonshly ~ to derive
from the reinve~tment of the Prepayment Amount less the Future Facilities Axnount
and the Administrative Fees and Expemes from the date of prepayment until the
redemption date for the Outstanding Bonds to be redeemed with the prepayment.
11. Add the amounts computed pursuant to paragraphs 7 and 9, and subtract the amount
computed pursuant to paragraph 10 (the "Defeasance Araowlt'~.
12. Verify the administrative fees and expenses of CFD No. 99-1~ including the costs of
computation of the prepaymenL the costs to invest the prepayment proceeds, the costs
of redeeming Bonds, and the costs of recording any notic.~s to evidonc~ the
prepayment and the redemption (the '~dministrative Fees and Expenses'~.
13. The reserve fund credit (the "Reserve Fund Credit9 shall equal the lesser of: (a) the
expected reduction in the reserve requimmgnt (as defined in the Indenture ), ff any,
associated with the redemption of Outstanding Bonds as a result of the prepayment,
Ci~ofChula F~sta A~g~st 17, 1~9
Com~ttu.lv Facilities Dis~r~cl No, 99-1 Page 17
or (b) the mount derived by su't,.'u~cling the new reserve requirements (as defined in
.--- the Indenture) in effect after the.redemption of Outsland/ng Bonds as a result of the
prepayment from the balance in the reserve fund on the prepayment date, but in no
event shall such mount be less than zero.
14. If any capitalized interest for the OtltS~ndln~ Bonds will not have been cxpended at
the lime of the first interest and/or principal payment foilowlnE the cun~nt Fiscal
Y~ar, a ca~|iTP, d ~ ~ $ha[.I b~ i~.[~lLtIt~d bit multiplying the quotiem
computed pursuant to paragraph 2 by the cxpecl~l balance in the capihliTtxl ~
fund after such first interest and/or principal payment (the "Capitalized Interest
Credit'~.
15. The Maximum Av~nual Special Tax propayment is equal to the sum of the amounts
computed pursuant to paragraphs 3, 4, 6, 11, and 12, less the mounts computed
pursnant to paragraphs 13 and 14 (the "Prepayment 4mount'~.
16. From the Prepayment Amount, the amOUHtS computed pursuant to paragraphs 3, 4,
11, 13, and 14 shall be deposited into the appropriate fund as established under the
Indemure and be used to retire Outstanding Bonds or make debt service payments.
The amount computed pursuant to paragraph 6 shall be deposited into the
Consreaction Fund. The amount computed pursuant to paragraph 12 shall be retained
by CFD lqo. 99-1.
The Prepaymcm Amount may be sufficient to redeem other than a $5,000 increment of
Bonds. In such cases, the increment above $5,000 or integral multiple thereof will be
~iained in the appropriate fund established under the Indenture to be used with the next
prepaymcnt of bonds or to make debt service payments.
As a result of the payment of the current Fiscal Yea~s Special Tax levy as determined
under paragraph 9 (above), the CFD Administrator shall remove the cutx'eut Fiscal Year's
Special Tax levy for such Assessor's Parcel from the County tax rolls. With respect to
any AssessoPs Parcel that is prepaid, the Board shall cause a suitable notice to be
recorded in compliance with the Act, to indicate the prepayment of Special Taxes and the
release of the Special Tax lien on such Assessors Parcel and the oblivion of such
Assessor's Parcel to pay the Special Tax shall cease.
Notwithstaodlng the foregoing no Special Tax prepayment shall be allowed tinless the
mount of Maximom Annual Special Taxes that my be levied on Taxable Property
within CFD No. 99-1 both prior to and after the proposed prepayment is at least 1.I times
the maxinlam anntlal debt service on all Outstanding Bonds.
Tenders of Bonds in prepayment of Maximom Annual Special Taxes may be accepted
upon the terms and conditions established by the Council pursuant to the Act. However,
Ci.ty ofCImla I~tsta Allgrist 17. 1999
Consra~6.ly Fa~l~ties Distr~ct No. 99-1 Page 18
the use of Bond tenders Shall only be allowed on a case-by-case basis as specifically ~
appwved by the Council. """"
2. Prepayment in Part
The Maximum Annual Special Tax on an Asseaso~s Parcel of Developed Property or
an Assessors Parcel of Undeveloped Property fur which a building permit has been
issued may be partially prepaid. The mount of the pfel~ytu~,at shall be calculated as
in Section I. 1; except that a partial prepayment shall be calculated accurdinZ to the
following formulsz
PP=PExF
These t~xms have ~he following menning;
PP = the partial prepayment
P~ = the Prepayment Amount calculated according to Section I. 1.
F = the percent by which the owner of the Assessors Parcel(s) is partially prepaying
the Maximum Annual Special Tax.
The owner of an Assessors Parcel who deshes to partially prepay the Maximum
Annual Special Tax shall notify the CFD Admiui~h~tor of (i) such owners intent to
partially propay the Maximum Annual Special Tax, (ii) the percentage by which the
Maximum ,Artmini Special Tax shall be prepaid, and (Hi) the company or agency that ._~
will be acting us the escrow agent, if applicable. The CFD Admini-qrator shall
provide the owner with a statement of the mount required for the partial prepayment
of the Maximum Annual Special Tax for an Assessors Parcel within 30 days of the
request and may charge a reasonable fee fur providing this service.
With respect to any Assessors Parcel that is partially prepaid, the City shall {i)
distribute the funds remitted to it according to Paragraph 16 of Section I_ l, and (ii)
indicate in the records of CFD No. 99-I that there has been a partial prgpayment of
the Maximum Annual Special Tax and that a portion of the Maximum Annual Special
Tax equal to the outstanding percentage ( 1.00 - F) of the remaining Maximum Annual
Special Tax shall continue to be authorized to be levied on such Assessors Parcel
pursuant to Section D.
J. 'I'ERM OF MAXIMU1VI ANNUAL SPECIAL TAX ~
The Maximum Annual Special Tax shall be levied commencing in Fiscal Year 1999-
2000 to the extent necessary to fully satisfy the Special Tax Requirement for a period
no longer than the 2034-2035 Fiscal Year.
Ci,w ofChula Ftsta ,4ugust 17. 1999
Community Fadlilies Dist~ct No. 99~1 Page 19
COMMUNITY FACILITIES DISTRICT
SPECIAL TAX REPORT
lVIELLO-ROOS COM~IUN1TY FACILITIES ACT OF ]982
COMMUNITY FACIL1TW-S DISTRICT
NO. 99-10TAY RANCH SPA ONE - PORTIONS OF VILLAGE ONE,
VILLAGE FIVE AND VHIAGE ONE WEST
The City of Chula Vista
476 Fourth Avenue
Chula Visla~ California 91910
MeGHI Martin Serf, Inc.
310 Third Avenue, Suite C-5
Chula Vista, California 91910
August 17, 1999
TABLE OF CONTENTS
Page
L/NTRODUCrZON 1
IL PROJECT DESCRIFrlON .....................................................................
llL DESCRWHON AND E~-rnvlATED COST OF PRO1POSRD FACIIITn~ ..................... 3
A. Description ofProposedPublic l,mprovments ................................. 3
B. Estimated Cost of Proposed Public Improvements .............................. 4
IV. BONDED INDF_~rr, ONESS AND INCIDENTAL EXPENSES .................................... 5
A. Projectrot Bond Sales ...............................................................
B. Incidental Bodd Issuance Expenses to be Included in the Proposed Bonded
Indebt~lness ........................................................................
C. Incidental Expenses to be Included in the Anmml IL'vy of Special Taxes ... 5
V. RATE AND METHOD OF APPORTIONMENT OFTliE SPECIAL TAX ....................... 6
A. F_,xplanation for Special Tax Apporfic, i~nent ....................................6
B. Maximum Annual Special Tax Rates ............................................ 7
C. Baclmp Special Tax ................................................................8
D. Accuracy ofhfformation ..........................................................8
VL BOUNDA]IIIi',¢~ OF COMMUNITY FACILrVHgS D~S-x'RICT ................................... 9
VH. GENERAL TERMS AND CONDrnONS ....................................................... 10
A. Substitution Facilities ..............................................................1
B, Appcmls 10
EXITHIlTS
Exhibit A Rate and Method of Apportionment
Exhibit B Assigned Maximum Special Tax Rates for Developed Property
Exhibit C Maximtun Special Tax Rates for Undeveloped and Taxable Property
Owner Association Property
Exhibit D Boundary Map
~.~ L INTRODUCTION
WHEREAS, the City of Chula Vista did, pursuant to the provision 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 (!~reinaf~r referred to as the ~Act"), and
specifically Section 53321.5 thereof, ex},,=ssly order the filing of a written '~eporC' with the
legislative body of the proposed Community Facilities District This Community Facilities
District being Community Facilities District No. 99-1 (Omy Ranch SPA One - Portions of
Village One, Vffiage Five and Village One West) shall hereinafter be referred to
"CFD No. 99-1"; and
WHEREAS, the Resolution Ordering and Directing the Preparation of a Report for Proposed
Community Facilities District No. 99-1 did clina that said Report generally contain the
following:
FACILITIES: A full and complete description of the public facilities the acquisition of
which is proposed to be financed through the CFD.
COST ESTIMATE: A general cost estimate setling forth costs of acquiring such facilities.
SPECIAL TAX: Further particulars and documentation regarding the rote and method of
--- apportionment for the authom. ed special tat
NOW, THEREFORE, I, John Lippitt P.E., the Director of Public Works of the City of Chula
Vista, and the appointed responsible officer directed to prepare thi~ Special Tax Report or cause
the Report to be prepared pvxsnnnt to the provisions of the Act, do hereby submit ,hie Report.
Communi .ty Facilities Distr~ct No. 99-1 Page 1
Otay Ranch SPA one - Portions of Village One. P~llage Five and Village One West August 17, 1999
IL PROJECT DESCRIPTION
CFD No.99-1 encompasses approximately 978 gross acres of land located in the portion of the
south San Diego City of Chula Vista known as Otay Ranch Of,hi-~ acr--~oe, approximately 660
acres axe expe~.ed to be developed. At buildout, it is expected that CFD No.99-1 will consist of
approximately 2,705 Single Family Residences, 1,352 Multifamily Residences, 8.1 Acres of
Commercial Uses, and 10.7 Acres of CommBrtity PtI~se Facilities (chllrches, daycaxe, oK:.).
The combined Single Family and Multifamily Uses are anticipated to generate 7,465,067 square
feet of residential building square foolage. The Commercial, CommBllity Pllrpose Facility
Property and Taxable Homeowner Association CHOA) Parcels are anticipated to generate 18.8
net taxable acreage.
CFD No.99~1 ((3my Ranch SPA One- Portions of Village One, Village Five and Village One
West) is also divided into the following three zones:
· Zone A: applies only to Developed Property, and means a specific geographic location
known as the Village One area as depicted on Exhibit D;
·Zone B: applies only to Developed Property, and means a specific geographic location
known as the Village Five area as depicted on Exhibit D; and
·Zone C: applies only to Developed Property, and means a specific geographic location
known as the Village One West area as depicted on Exhibit D;
Table 1, below, summarizes the mount of improved residential building square footage, number "~
of units and net laxable Commercial and Commtlnity Pttrpose Facility Property expected at
buildout of CFD lqo.99-1 (Otay Ranch SPA One - Portions of Village One, Village Five and
Village One West), by zone.
TABLE 1
CATEGORY SQUARE FEET OF NUMBER OF NUMBER OF
RESIDENTIAL UNITS ACRES
FLOOR AREA
ZONE A: VILLAGE ONE 3,495,399 2,268 14.1
ZONE B: VILLAGE FIVE 2,038,513 1,036 4.7
ZONE B: VII LAGE FIVE 1,931,155 753 0
CFD No. 99-1 allows for the future annexation of parcels as depicted on Exhibit D (Future
Annexation Parcels). The area within the Future Annexation Parcels encompasses
approximately 36 gross acres. At buildout, it is expected that the Future Annexation Parcels, if
and when annexed into CFD No. 99-1, would include approximately 154 single family
, ~,sidences.
Community. Facil~es District No. 99-1 Page 2
Otay Ranch SPA One - Portions of Ifdlage One. F'dlage F'tve and Village One West August 8, 1999
HI. DESCRWTIONANDESrLMATEDCOSTOFPROPOSEDFA(3Lrrn~$
A. DescriUtion of Pronosed Public lmorovements
A community facilities district may provide for the purchase, construction, ex~ngion, or
rehabilitation of any real or tangible property, including public facffities and
infrastmctm~ improvements with an estimated useful life of five (5) years or longer,
which is necessary to meet increased demands placed upon local agencies as a result of
development or rehabilitation occurring within the community facilities district. In
addition, a community facffities disU'ict may pay in full all mounts necessary w
eliminate any fixed sDecial assessment liens or to pay, repay, or defease any obligation to
pay or any indebtedness secured by any tax, fee, charge, or assessment levied within the
area of the communily facilities district.
The facilities described in this Report are all facilities which the legislative body creating
CFD No.99-1 is authorized to own, consWact, or finance, and which are required, in part,
to adequately meet the needs of CFD No.99-1. In addition, the facilities meet the criteria
for authorized public facilities set forth in the City's Statement of Goals and Policies
regarding the establishment of Commullity Facilities DisU-icts. The actual facilities
described heroin are those currently expected to be required to adequately meet, in part,
the needs of CFD No.99-1. Because the actual needs of CFD No.99-1 arising as
development progresses therein may differ f~om those currently anticipated, CFD No.99-
1 reserves the right to modify the actual facffities proposed herein to the extent CFD
No.99-1 deems necessary, in its sole discretion to meet those needs. The Special Taxesx
required to pay for the construction or financing of said facffifies will be apportioned as
described in the Rate and Method of Apportionment of the Special Tax for CFD No.99-1
(Otay Ranch SPA One - Portions of Village One, Village Five and Village One West)
(see Exhibit A).
Proceeds of the proposed bonded indebtedness of CFD No. 99-1 will be used to finance
backbone streets and associated improvements (i.e., grading, sewer, streets, landscaping,
utilities, etc.), public facilities DIF Improvements, and pedestrian bridges. Following is a
general description of the proposed facilities:
· Olympic Parkway Phases 1 and 2
· Paseo Ranchero Phase 2
· East Palomar within Village One West
· East Palomar within Village Five
~ Please note that all ct~italized terms used herein, unless ot~rwise indicatet~ shall have the rtwtmings defined i,
the Rate trod Method cf .4pportio.ment prepared for CFD No. 99-1.
Community Facilities Distrla Na~ 99-1 Page 3
Outy Ran& SPA One - Portions of Fillage On~ Hllage Hve and [allage One West August 17, 1999
* Those facilities to be financed from the proceeds of public Facilities Development
Impact Fees, payable as a condition of development of property within CFD
No.99-1
· Those facilities to be financed from the proceeds of Pedestrian Bridges
Development Impact Fees, payable as a condition of development of property
within CFD No.99-1
· Slope Landscaping
· Environmental lv~tigafion Costs for Olympic Parkway
B. Estimated Cost of Proposed Public Imnrovements
The facilities and the e,~imafed costs herein are subject to review and confirms?ion. The
costs listed in Table 2, are estimates only, based upon cun'ent con~h uction and land costs
and actual costs may differ from those est/mates herein_ Based on the current CFD
No.99-1 bond sizing estimate of approximately $39.5 million, only a portion of these
costs are expected to be financed with CFD bond proceeds.
TABI ,F, 2
Facilities Improvements Total Estimated Cost
Olympic Parkway Phase 1 $ 35.2 Mill/on
Olympic Parkway Phase 2 $ 5.4 l~illion
Pasen Ranchew Phase 2 $ 43 Million
Palomar (Village One West) $ 4.5 Million
Palomar (Village Five) $ 2.0 Million
Slope Landscaping $ 5.0 Million
Public Facilities Developmere Impact Fees $ 8.1 Million
Pedestrian Bridge Impact Fees $ 1.3 Million
Community Fadlitles Diraia No. 99-1 Page 4
Otav Ranch SPA One - Portions of [qllaee One. FillaCe l~l,e and F'dlage One W~t August 8, 1999
IV. BONDED INDEBTEDNESS AND INCIDENTAL EXPENSES
A. Project Bond Sales
The current bond amount estimated for CFD No. 99-1 is $60 million (exclusive of the
Future Annexation Parcels), and it is anticipated that a single bond will be issued. The
bonds issued by CFD No.99-1 will meet the terms and conditions of special tax bonds set
forth in the City's Statement of Goals and Policies Regarding the Establishment of
Community Facilities ,Districts.
B. Incidental Bond Issuance Exnenses to be Included in the Proposed Bonded
Indebtedness
Pursuant to Section 53345.3 of the Act, bonded indebtedness may include all costs and
estimated costs incidental to~ or connected with, the accomplishment of the purpose for
which the proposed debt is to be incurred, including, but not limited to, the costs of legal,
fiscal, and ~nancial consultant fees; bond and other reserve funds; discount fees; interest
on any bonds of the district due and payable prior to the expiration of one year from the
date of completion of the facilities, not ~o exceed two years; election costs; and all costs
of issuance of the bonds, including, but not limited to, fees for bond counsel, costs of
obtaining credit ratings, bond insurance premiums, fees for letters of credit, other credit
enhancement costs, printing costs, and those Administrative Costs as defined by Exhibit
A. For the bonds proposed to be issued by CFD No.99-1, capitalized interest is estimated
to be capifaliTed for one year. The reserve fund is estimated to be the maximum
allowable under Federal Tax Law. All other incidental bond issuance expenses is
estimated at 4 percent of the face amount of the bonds.
C. Incidental Expenses to be Included in the Annual Lew of Snecial Taxes
Pursuant to Section 53340 of the Act, the proceeds of any special tax may only be used to
pay, in whole or part, the cost of providing public facilities, services and incidental
expenses. As defined by the Act, incidental expenses include, but are not limited te, the
cost of planning and des~pning public facfiines to be financed, including the cost of
environmental evaluations of those facilities; the costs associated with the creation of the
disu'ict, issuance of bonds, determination of the amount of taxeS, collection of taxes,
payment of taxes, or costs otherwise incurred in order to carry out the authorized
purposes of the district; any other expenses incidental to the consm~ction, completion,
and inspection of the authorized work; and the retirement of existing bonded
indebtedness. While the actual cost of administering CFD No.99-1 may vary, the
currently budgeted amount of special taxes which can be collected is $125,000 in annual
administrative expenses prior to buildout of the project and $75,000 per year subsequent
to buildout The actual cost will likely change over the life of the district Therefore the
administrative budget for CFD No. 99-1 will be set each year, and could be more than the
current budget //
Community. Fadllti~ Distria No. 99-1 Page 5
OtaZl, Ranch SPA One - portions of Fillage One, l. qllage Five and F~llage One West August 17, 1999
V. RATE AND METHOD OF APPORTIONMENT OF ~ SPECIAL TAX
All of the property located w~thin CFD No.99-1, unless exe~npted by law, shah be taxed for the
purpose of providing necessary facilities to serve CFD No.99=1. Pursuant to Section 53325.3 of
the Act, the tax imposed "is a Special Tax and not a special assessment, and them is no
requirement that the tax be apportioned on the basis of benefit to any property.' The Special Tax
"may. be based on bei~t received by parcels of real property, the cost of makl,g facilities or
authorized services available to each parcel or other masonable basis as dotc4min~d by the
legislative body," although the Special Tax may not be apportioned on an ad valorera basis
pursuant to Article Xlrr~ of the California Constitmion~
As shown in Exhibit A, the mended Rate and Method of Apportionment provides information
sufficient to allow each prop~ty owner within CFD No.99-1 to estimate the maximum annual
Special Tax he or she will be required to pay. Sections A through C, below, provide additional
information on the Rate and Method of Apportionment of the Special Tax for CFD 99-I.
A. Exl}lanation for Snecial Tax Annortionment
When a community facilities district is formed, a Special Tax may be levied on each
parcel of taxable property within the CFD to pay for the consUuction, acquisition and
rehabilitation of public facilities, to pay for authorize~l ser,,ices or to repay bonded
indebtedness or other related exl~nses incuncd by CFD No,99-1. This Special Tax must
be apportioned in a reasonable manne~, however, the tax may not be apportioned on an ad
valorem basis.
When more than one type of land use is present w~thin a commu!lity facilities district,
several criteria m~y be considered when apportioning the Special Tax. Generally, criteria
based on building square footage, acreage, and land use are selected, and categories based
on such criteria are established to differentiate between parcels of property. These
categories are a direct result of the developer' s projected product mix, and are reflective
of the proposed land use types within that community facilities district. Specific Special
Tax levels are assigned to each land use class, with all parcels within a land use class
assigned the same Special Tax rate.
The Act does not require the Special Taxes to be apportioned to individual parcels based
on benefit received. However, in order to insure fairness and equity, benefit principles
have been incorporated in establishing the Special Tax rates for CFD No.99-1.
The major assmption inherent in the Special Taxes rates set forth in the Rate and
Method of Apportionment is that the level of benefit received from the proposed public
improvements is a function land use. This assumption is borne out through an
examination of commonly accepted statistical measures.
For example, in measuring average weekday vehicle trip-ends, the Institute of
Transportation Engineer's 1995 Trip Generation report identifies land use as the primary --~
determinant of ~p-end magnitude. Commercial land uses typically generate more trip-
ends than do single family residential land use. Similarly, larger single family detached
Cornmun~y Fadlities Disw~ No. 9~-1 Page 6
Ot .ay Ranch SPA O,e - Portions of Hllage 0~ ~'dla~e Fn, e and FallaRe One West Audit & 1999
dwellings typically generate a greater number of aip-eads than do smaller single family
detached homes, and therefore, wilt'tend to received more benefit from road grading
road landscaping and road improvements.
Drainage and flood conlxol requirements gene~lly vary with the mount of impervious
ground cover per parcel. It follows that lms~, homes which have more impervious
ground cover will create relatively more drainage flow than smail~ homes.
CFD No.99-1 (Olay Ranch SPA One - Portions of Village One, Village Five and Village
One West) is divided into three district zones, described as:
> Zone A: applies only to Developed Property, and means a specific geographic
location known as the Village One area
} Zone B: applies only to Developed Propemj, and mean~ a specific geographic
localion known as the Village Five area; and
> Zone C: applies only to Developed Property, and means a specific geographic
location known as the Village One West area.
Four Land Use Class Categories of Taxation have been established for CFD No.99-1.
The categories axe defined as follows:
~-Residential Developed Parcels (single and multifamily residences) are taxed on the
square footage of the building;
>.Non-Residential Developed Parcels are taxed based on acreage ofthe parcel;
} The Undeveloped Property Category includes all the parcels for which a building
permit has not been issuecL The tax on Undeveloped Property is based on the total
acreage of the parcel; and
>-The Taxable Property Owners Association Property Parcels are taxed based on the
acreage of the pamel, the same as Undeveloped Property.
Based on the types of public facilities that are proposed for CFD No.99-1 and the factors
described above, the Special Taxes assigned to specific land uses are generally
proportionate to the relative benefits received by them, and, accordingly, the Special
Taxes in CFD No.99-1 can be considered fair and reasonable.
B. Maximum Annual Slaecial Tax Rates
:
Exhibit B lists the Maximum Annual Special Tax rates that may be levied in each zone,
against Residential Property, Commercial Property and Community Purpose Facility
Property within CFD No.99-1. Exhibit C lists the Maximum Special Tax Rates for
Undeveloped Property and Taxable Property Owner Association Property within CFD
No.99-1. Any Future Annexation Parcels that annex into CFD No. 99-1 will be subject
to the Maximum Special Tax Rates specified in Exl~l>its B and C, and the Backup
Special Tax (described below) of the applicable zone within which such .Future
Annexation Parcel is located and its applicable land use category.
Community Facilities Distric~ No. 99-I Page 7
Ot~, Ranch SPA One - Portions of I~llage On~ l ~tlage Five and Hllage One gFest August 17, 1999
The City Council will annually determine the actual mount of the Special Tax levy -'-- )
based on the method described m Exhibit A and subject to the maximum Special Tax
rates contained in Exhibit B and Exhibit C. The City will levy a Special Tax to the extem
neeessmy, snfficieut to meet the Special Tax Requirement.
C. Baelm~ S~eeial Tax
Payment of a one-lime Badrap Special Tax may be r~luimd prior to .the issuance of
building l~tmits or recordation of a final map. Tables 4, 5, and 6 in Exlibit A identifies
the mount of Special Tax revenue and development that is currently expected from each
planning are~ If the CFD Administrator determines that the Special Tax revenue for a
planning area will be reduced as a result of a reduction in the expected n~nnber of units,
acres, or building square feet in such pbnning ~ then a Backup Special Tax payment
will be requirec[ Upon annexation of Future Annexation Parcels within CFD No. 99-1,
Tables 5 and/or 6 will be modified to include relevant land use information pursuant to
the procedure described in Exhibit A.
The mount of lhe Backup Special Tax payment will be calculated pursuant to Section E
of Exhibit A.
D. Accuracy ofhforma~on
In order to establish the Maximum Annual Special Tax ra~ and the Backup Special Tax "
as set forth in the Rate and method of Appordoument for CFD 99-1, McCrill Martin Self,
Inc. has relied on information including, but not limited to absorption, land-use types,
building square footage, and net taxable aureage which were provided to MeGill Martin
Self, Inc. by others. MeGill Martin Self, Inc. has not independently verified such data
and disclaims responsibility for the impact of inaccurate data provided by others, if any,
on the Rate and Method of Apportionment for CFD 99-1, including the inability to meet
the financial obligations of CFD 99-1.
Community F~e;l~ Dhtria No. 99-1 Page 8
Otav Ranch SPA One- Portions of Hllage One, V~llage Five and F'dlage One West August 8, 1999
VL BOUNDARIES OF COMMUNITY FACIIJTIES DISTRICT
The boundaries of CFD No.99-1 include all land on which the Special Taxes m~ be levied. A
map of the area ineludexl within CFD No.99-1 is provided as i'bit D. Future Annexation
Parcels of CFD No. 99-1 have also been identified on Exhibit D.
Community F~dt;t;,s DisIlia Ntz 99-1 Page 9
Otay Ran& SPA One - Portions of Fillage One, ~llage Five and Fillage One West August 17, 1999
vn. AL TEnl ts ANO cor, romoss
A. Su~m~on Facili~
~e ~on of ~e p~c ~es, ~ ~ f~ hem~ ~ ~o~ ~ ~k ~. ~e
final ~ nd lo~on of ~p~veme~ nd ~i~fi~ ~ be d~in~ u~n ~e
~on of final p~ ~d ~ifi~fio~. ~e ~ p~ my ~ow ~, ~
~eu or mo~o~ to ~e ~o~s~ work ~ ~d~ ~ ~mpli~h ~e work of
im~vem~ ~d ~ ~h s~on shall ~t be a c~ or m~i~on ~ ~e
~ ~ long ~ ~e fairies pro~de a se~ce ~d ~e of a ~ sub~ly
~mil~ m ~t ~ set fo~ ~ ~s R~o~.
B. App~ls
~y l~do~er who feels ~t ~e mo~t of ~e S~cial T~ is ~ ~r may ~e a notice
~ C~ 99-1, ap~g ~e 1~ of~e Speci~ T~ p~nant to ~e proced~e s~c~ed
~ E~bit ~ ~ appro~ate, a representative of C~ No.99-~ roll ~cn m~ew ~e
a~ ~ ff necess~, m~t m~ ~e appli~t. ff ~ ~m~ of ~e m~esenmtive
ve~ ~t ~e mo~t of ~e S~ci~ T~ sho~d be mo~ed or c~ ~e~ ~
appro~ate, ~e Special T~ le~ s~ be coffeeted.
Community Fo,~r,s~ llistria N~ 911-1 Page 10
Ot ,ay Ran& SPA One- Portions of Fillage One, Ftlla#e Five and ~qllage One West August 8, 1999
RESOLUTION NO. 19588
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA
VISTA ACCEPTING BIDS AND AWARDING CONTRACT FOR THE
INSTALLATION OF TRAFFIC SIGNAL SYSTEM AT PASEO
RANCHERO AND EAST "J" STREET (TF-270) TO DBX, INC.,
AND APPROPRIATING FUNDS OF $83,000 FROM THE
UNAPPROPRIATED BALANCE OF THE TRAFFIC SIGNAL FUND
WHEREAS, on August 3, 1999, the Director of Public Works received the following
four sealed bids from electrical contractors for the installation of traffic signal system at Paseo
Ranchero and East "J" Street (TF-270):
Contractor Bid Amount
1. DBX, Inc. $75,245.00
2. Lekos Electric, Inc. $79,015.00
3. Knox Electric, Inc. $81,548.00
4. T&M Electric dba Perry Electric $84,800.00
WHEREAS, the low bid amount of $75,245, which was received from DBX, Inc., is
16.4 percent lower than the engineer's cost estimate of $90,000; and
WHEREAS, the total project cost is $142,200 which includes the bid amount of
$75,245; $18,000 for design, inspection and administration; $30,055 for purchase of traffic
control cabinet, mast arms, Emergency Vehicle Preemption System, internally illuminated
street name signs, 250W HPSV luminaries and traffic signal standards; and $18,900 for
contingencies (15 percent); and
WHEREAS, the approved CIP budget for the project is $179,000, which includes
requested funds of $120,300 from the Chula Vista Elementary School District and the
Sweetwater Union High School District for their share (two-thirds) of the estimated
construction cost, since the two Districts have been requesting the installation of such traffic
signal; and
WHEREAS, the City's Environmental Review Coordinator has reviewed the work
involved in this project and determined that the project is exempt for CEQA under both CEQA
Guidelines. Section 15061 (b) (3) and Section 15303, Class 3 (new construction or conversion
of small structures); and
WHEREAS, the source of funding for this project is the Traffic Signal Fund and
contractors bidding this project were not required to bid based on paying prevailing wages to
persons employed by them for the work under this contract; and
Resolution 19588
Page 2
WHEREAS, no special minority or woman-owned business requirements were
necessary for this project, however, disadvantaged businesses were encouraged to bid
through the sending of the Notice to Contractors to various minority trade publications.
NOW, THEREFORE, BE IT RESOLVED the City Council of the City of Chula Vista does
hereby accept the four bids and award the contract for the installation of traffic signal system
at Paseo Ranchero and East "J" Street (TF-270) to DBX, Inc. in the amount of $75,245.
BE tT FURTHER RESOLVED that the Mayor of the City of Chula Vista is hereby
authorized and directed to execute said contract on behalf of the City of Chula Vista.
BE IT FURTHER RESOLVED that the amount of $83,O00 is hereby appropriated from
the unappropriated balance of the Traffic Signal Fund.
Presented by Approved as to form by
Resolution 19588
Page 3
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
S h i~ ~MaYo'~r't~
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. 19588 was duly passed, approved, and adopted by the City Council at a
regular meeting of the Chula Vista City Council held on the 31" day of August, 1999.
Executed this 31" day of August, 1999.
Susan Bigelow, City Clerk