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HomeMy WebLinkAboutReso 2016-185 RESOLUTIOI�' NO. 2016-18� RESOLUTION OF THE CIT1' COUI�'CIL OF THE CITY OF CHULA VISTA DECLARING NECESSITY TO II�'CUR A BONDED II�'DEBTEDNESS FOR INIPROVEAIENT AREA NO. 1 AI�'D IA4PROVEMEI�'T AREA I�O. 2 OF COMMUI�TITY FACILITIES DISTRIC7� NO. 16-I (A4ILLEI�TIA). SUBMITTIi�'G TO THE QUALIFIED ELECTORS OF EACH SUCH IMPROVEMEI�'T AREA SEPARATE PROPOSITIONS TO AUTHORIZE THE LEVY OF A SPECIAL TAX THEREII�'. TO AUTHORIZE SUCH COMn4lJ�'ITY FACILITLES DISTRICT TO IivCUR A BONDED II�'DEBTEDNESS FOR EACH SUCH IMPROVEMENT AREA SECURED BY THE LEVY OF SUCH SPECIAL TAX THEREIN TO FII�ANCE CERTAIN TYPES OF PUBLIC FAC[LITIES AND TO ESTABLISH AN APPROPRIATIONS L[M[T FOR SUCH COMMUNITY FACILITIES DISTRICT. AND GIVIi�'G NOTICE THERE02�' V�'HEREAS, the City Council of the City of Chula Vista (the "City Council"); has previously declared its intention and held and conducted a public hearing relatins to the issuance of bonds to be secured bv special tases ���ithin each improvement azea to finance certain public facilities in a community facilities dis[rict, as authorized pursuant to the terms and provisions of the "I�4ello-Roos Community Facilities Act of 1982", beine Chapter 2.�; Part 1, Division 2; Title 5 of the Government Code of the State of California (the "Acr') and the Citv of Chula Vista Communit�� Facilities District Ordinance enacted pursuant to the po«�ers resened by the Cit�� of Chula Vista under Sections 3. � and 7 of Article XI of the Constitution of the State of Califomia (the "Ordinance `) (the Act and the Ordinance may be referred to collecti��el}� as the "Communit�� Facilities District Lan%`). This community facilities district shall hereinafrer be referred to as Communitv Facilities District No. 16-[ (Millenia) (the "Districr`) and the impro�=ement azeas shall hereinafrer be referred to as Improvement Area No. 1 and Improvement Area No. 2 (each, an "Improvement Area` and collectivelv, the "Improvement Areas-`); and 11'HEREAS: at this time the Cit�- Council desires to proceed to make the determination of necessitv to incur a bonded indebtedness for each Improvement Area; to declare the purposes for such debt, and to authorize the submittal of a proposition to the qualified electors of each such Improvement Area, being the lando��mers of each such Impro��ement Area, all as authorized and required by the Community Facilities District La�a; and VdHEREAS, the Cit}� Council further desires to authorize the submittal of propositions to such qualified electors of each Impro��ement Area to (a) authorize the le�v of special ta�es within such lmprovement Area and (b) to establish an appropriation limit for the District; and �'HEREAS. all of the qualified electors of each Impro��ement Area ha�e «=ai��ed the time limits specified in the Act pertaining to the conduct of the election for such Improvement Area and the requirements for impartial legal anal��sis and ar_uments ha��e also been ���ai��ed b�� the unanimous consent of the qualified electors of such Impro��ement .Area; and Resolution No. 2016-185 Page No. 2 WHEREAS, the City Clerk, as the Election Official, has concurred in the shortening of time for conducting the election. NOW, THEREPORG, BE IT RESOLVED AS FOLLOWS: SECTION l. Recitals. The above recitals are all true and correct. SECTION 2. Necessity for bonded indebtedness. The City Council hereby expressly declares and states that it is necessary to incur a bonded indebtedness of the District for each Improvement Area as authorized under the terms and provisions of the Community Facilities District Law, in order to finance the types of public facilities described in Exhibit A attached hereto and incorporated herein by this reference. SECTION 3. Purpose for such bonded indebtedness. The specific purposes for the proposed bonded indebtedness are as follows: To finance a portion of the costs of the acquisition or construction of certain public facilities consisting of the types of facilities described in Exhibit A hereto (the "Facilities') ti�hich is incorporated herein by this reference, appurtenances and appurtenant work and any and all of those applicable incidental costs described in and authorized by Government Code Section 5�3453. SECTION 4. Territorv to pav for such bonded indebtedness. This City Council determines that the property within each Improvement Area will pay for the bonded indebtedness of such Improvement Area referred to in Section 3 above. A genera] description of the District is as follows: All property within the boundaries of Community Facilities Dislrict No. 16-1 (Millenia) and the Improvement Areas, as shown on a map as previously approved by the City Council, such map desi�nated by the name of this District, a copy of which is on file in the Office of the City Clerk. SECTION 5. Bond authorization. The amount of the proposed bonded indebtedness, including the cost of the Facilities, together with all incidental expenses, of the District for each Improvement Area shall not exceed the following amounts: Improvement Area No. 1 $20,000,000 Improvement Area No. 2 $21,000,000 SECTION 6. Bond term. This City Council hereby further determines that the ma�imum term of bonds and/or an}� series shall not exceed forty (40) years, and such bonds may be issued in differing series, at differing times. The maaimum rate of interest to be paid on such bonds may no[ esceed the greater of either h��elve percent (12%) per annum or the maximwn rate pem�itted by la��� at the time of sale of any of such bonds. The bonds, ezcept ���here other funds are made available, shall be paid exdusively from the annual levy of the special ta� within the related Improvement Area, and are not secured b�� any other tazinc po���er or Punds of the District ar the Citv. Resolution I�'o. 2016-18� Paee No. 3 SECTION 7. Accountabilit�� measures. Pursuant to and in compliance N�ith the pro�isions of Article 1.� (commencine ��ith Section �3410) of Chapter 3 of Part 1 of Division 2 of Title � of the Govemment Code. this Cih� Council herebr establishes the folloH�ine accountabilitv measures pertainine to any bonded indebtedness incurred b�� or on behalf of the District: � A. Such bonded indebtedness shall be incurred for the applicable specific purposes set forth in the Section 3. B. The proceeds of any such bonded indebtedness shall be applied onlv to the applicable specific purposes identified in Section 3. C. The document or documents establishine the terms and conditions for the issuance of an�� such bonded indebtedness shall pro��ide for the creation of an account into which the proceeds of such indebtedness shall be deposited. D. The City A9anager or his or her designee, acting for and on behalf of the District, shall annuall�� file a report ���ith this City Council as required by Govemment Code Section �341 l. SECTION 8. Election. The propositions related to the incumne of the bonded indebtedness for each Improvement Area shall be submitted to the appropriate qualified ��oters of such Improvement Area. to�ether ���ith ballot propositions to authorize the levy of special taxes �ti�ithin such Improvement Area and ro establish an appropriations limit for the District, at a special election to be held on September 13, 2016, and such election shall be a special election to be conducted b}� the Cih� Clerk (the "Election Official"). If any proposition for the levy of the special tax and an�� proposition for incurring the bonded indebtedness receives the appro��al of m�o-thirds (2/3) or more of the ��otes cast on each respecti��e proposition, bonds may be authorized, issued and sold for the applicable purposes set forth herein and the applicable special taX ma�� be levied as pro��ided in Resolution Forming and Establishing Community Facilities District No. 16-I (Millenia) and Authorizine the Submittal of Special Ta�es to the Qualified Electors Thereof. If the proposition to establish the appropriations limit for the District receives the approval of a majoritv of the ��otes cast on such proposition, such appropriations limit shall be established. SECTION 9. Ballots. The ballot proposals to be submitted to the qualified ��oters of[he Improvement Areas at the election shall generall�� be as follo���s: PROPOSITION A Shall the Citv of Chula Vista Communitv Facilities District I�'o. 16-I (Millenia); subject to accountability measures required pursuant to Go��emment Code Section �007�.1, le��� a special ta� throughout Improvement Area No. 1 of such district pursuant to the rate and method of apportionment thereof set forth in such resolution for the purposes of pa��ing debt sen�ice on bonds of such district, replenishin� the reserve fund for such bonds. payine costs of administering such indebtedness and such district and pa�in� directiv for the t��pes of facilities described in such resolution? Resolution No. 2016-18� Page No. 4 PROPOSIT]ON B Shall the City of Chula Vista Communiry Faciliries Dish-ict No. 16-] (Millenia), subject to accountability measures required pursuant to Government Code Sections 53410 and 53411, incur a bonded indebtedness for Improvement Area No. 1 of such district in an amount not to exceed $20,000,000 for the specific purposes set forth in such resolution? PROPOSITION C Shall the City of Chula Vista Community Facilities District No. 16-] (Millenia), subject to accountability measures required pursuant to Government Code Section 50075.1, levy a special tax throughout Improvement Area No. 2 of such district pursuant to the rate and method of apportionment thereof set forth in such resolution for the purposes of paying debt service on bonds of such district, replenishing the reserve fund for such bonds, paying costs of administering such indebtedness and such district and paying directly for the types of facilities described in such resolution? PROPOSITION D Shall the City of Chula Vista Community Facilities District No. 16-[ (Millenia), subject to accountability measures required pursuant to Govemment Code Sections 53410 and 53411, incur a bonded indebtedness for Improvement Area No. 2 of such district in an amount not to exceed $21,000,000 for the specific purposes set forth in such resolution? PROPOSITION E Shall the Ciry of Chula Vista Community Facilities District No. 16-1 (Millenia) establish an Article XIIIB appropriations limit equal to $41,000,000? SECTION ]0. Vote. The appropriate mark placed on the line in front of the word "YES" shall be counted in favor of the adoption of the proposition, and the appropriate mark placed on the line in front of the word "NO" in the manner as authorized, shall be counted against the adoption of such proposition. SECTION 1 l. Election procedure. The Election Official is hereby authorized to take any and all steps necessary for the holdina of such election. The Election Official shall perform and render; or cause to be performed and rendered, all services and proceedings incidental ro and connected N�ith the conduct of the election, which services shall include. but not be limited to. the follo���inR activities as are appropriate to the election: Resolution No. 2016-18� Paee \o. � A. Prepare and fumish to the election officers necessan� election supplies for the conduct of the election. B. Printed the requisite number of of�icial ballots, tallv sheets and other necessan� forms. C. Fumish and address official ballots for the qualified electors. D. Deli��er the official ballots to the qualified electors or their authorized representatives, as required by law�. E. Receive the returns of the election and supplies. F. Son and assemble the election material and supplies in prepazation for the cam�assinff of the retums. G. Canvass the retums of the election. H. Fumish a tabulation of the number of��otes given in the election. I. Conduct and handle all other matters relating to the proceedings and conduct of the election in the manner and form as required by law. Presented b�� Appro��ed as to form by �,� � ,� � `\\��' Kell� G. Broughton. FASLA Glen R�Googins � Director of Derelopmental Services Cih���e}� Resolution No. 2016-18� Page No. 6 PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista, California, this 13th day of September 2016 by the following vote: AYES: Councilmembers: Aguilar, Bensoussan, McCann, Miesen, and Salas NAYS: Councilmembers: None ABSENT: Councilmembers: None . ��/GR.�.,GGt� ,�� Mary las, Mayor ATTEST: Donna R. Norris, C, rty lerk STATE OF CALIFORNIA ) COUNTY OF SAN DIEGO ) CITY OF CHULA VISTA ) I; Donna R. Norris; City Clerk of Chula Vista, California, do hereby certify that the foregoing Resolution No. 2016-185 was duly passed, approved, and adopted by the City Council at a regular meeting of the Chula Vista City Council held on the 13th day of September 2016. Executed this 13th day of September 2016. ��t� Donna R. Norris, M , City Clerk Resolution No. 2016-18� Page No. 7 EXHIBIT A DESCRIPTION OF TYPES OF FACILITIES The t��pes of facilities elieible to be financed b�� the District are street (both on-site erid streets and boundary arterials) and bridee impro��ements, including gradine; pa��ine, curbs and gutters, sidewalks, trails, medians, traffic signalization and sienaee, street liehts, utilities, storm ���ater drainage, detention and treatment, and landscaping and irrieation related thereto, sewer collection and com�e��ance facilities, off site storm detention and veatment facilities, park and recreation facilities (includino land and impro��ements), fire facilities and equipment, libran� facilities and equipment, transit facilities, fiber optic telecommunication s��stem facilities. general Qo�emmental office. administrative and meeting facilities, bus and rapid transit facilities and land, riehts of�-ay and easements necessarv for any of such facilities. Not��ithstanding the foreeoine, only equipment with a useful life of fi��e (�) years or more N�ill be eligible to be financed.