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HomeMy WebLinkAboutReso 2002-313 RESOLUTION NO. 2002-313 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA VISTA DECLARING NECESSITY TO INCUR BONDED INDEBTEDNESS FOR COMMUNITY FACILITIES DISTRICT NO. 2001-2 (MCMILLIN OTAY RANCH VILLAGE SIX), SUBMITrlNG TO THE QUALIFIED ELECTORS OF SUCH COMMUNITY FACILITIES DISTRICT A PROPOSITION TO IIqCUR A BONDED INDEBTEDNESS SECURED BY THE LEVY OF A SPECIAL TAX WITHIN SUCH COMMUNITY FACILITIES DISTRICT TO FINANCE CERTAIN TYPES OF PUBLIC FACILITIES, AND GIVING NOTICE THEREON WHEREAS, the City Council of the City of Chula Vista (the "City Council"), has previously declared its intention and held and conducted a public hearing relating to the issuance of bonds to be secured by special taxes to finance certain public facilities in a community facilities district, as authorized pursuant to the terms and provisions of the "Mello-Roos Community Facilities Act of 1982", being Chapter 2.5, Part 1, Division 2, Title 5 of the Government Code of the State of California (the "Act") and the City of Chula Vista Community Facilities District Ordinance enacted pursuant to the powers reserved by the City of Chula Vista under Sections 3, 5 and 7 of Article XI of the Constitution of the State of California (the "Ordinance') (the Act and the Ordinance may be referred to collectively as the "Community Facilities District Law"). This Community Facilities District shall hereinafter be referred to as Community Facilities District No. 2001-2 (Otay Ranch - McMillin - Portions of Village Six) (the "District"); and WHEREAS, at this time the City Council desires to proceed to make the determination of necessity to incur a bonded indebtedness for the District, to declare the purpose for such debt, and to authorize the submittal of a separate proposition to the qualified electors of the District, being the landowners of the District, all as authorized and required by law; and WHEREAS, the City Council further desires to authorize the submittal of propositions to such qualified electors of the District to (a) authorize the levy of special taxes within the District and (b) to establish an appropriation limit for the District; and WHEREAS, all of the qualified electors of the District have waived the time limits specified in the Act pertaining to the conduct of the election and the requirements for impartial legal analysis and arguments have also been waived by the unanimous consent of the qualified electors of the District; and WHEREAS, the City Clerk, as the Election Official, has concurred in the shortening of time for conducting the election. NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS: SECTION 1. RECITALS. The above recitals are all true and correct. SECTION 2. NECESSITY FOR BOND ISSUES. The City Council hereby expressly declares and states that it is necessary to incur a bonded indebtedness of the District as authorized under Resolution 2002-313 Page 2 the terms and provisions of the Community Facilities District Law, in order to finance the types of public facilities described in Section 3 below. SECTION 3. BOND INDEBTEDNESS FOR THE DISTRICT. The specific purposes for the proposed bonded indebtedness for the District is 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") which 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 53345.3. For a further description of the Facilities, reference is made to the Report. SECTION 4. TERRITORY TO PAY FOR BONDED INDEBTEDNESS. This City Council determines that all of the taxable property within the District will pay for the bonded indebtedness referred to in Section 3 above. A general description of District is as follows: All property within the boundaries of Community Facilities District No. 2001-2 (McMillin - Otay Ranch - Village Six), as shown on a map as previously approved by the City Council, such map designated by the name of this District, a copy of which is on file in the Office of the City Clerk (the "Boundary Map"). SECTION 5. BOND AMOUNT. The amount of the proposed bonded indebtedness, including the cost of the Facilities, together with all incidental expenses, shall not exceed the following: $13,000,000 SECTION 6. BOND TERM. This City Council hereby further determines that the maximum term of bonds and/or any series shall not exceed forty (40) years, and such bonds may be issued in differing series, at differing times. The maximum rate of interest to be paid on such bonds may not exceed the greater of either twelve percent (12%) per annum or the maximum rate permitted by law at the time of sale of any of such bonds. The bonds, except where other funds are made available, shall be paid exclusively from the annual levy of the special tax within the District, and are not secured by any other taxing power or funds of the District or the City. SECTION 7. ACCOUNTABILITY MEASURES. Pursuant to and in compliance with the provisions of Article 1.5 (commencing with Section 53410) of Chapter 3 of Part 1 of Division 2 of Title 5 of the Government Code, this City Council hereby establishes the following accountability measures pertaining to any bonded indebtedness incurred by or on behalf of the District: A. Such bonded indebtedness shall be incurred for the applicable specific purposes as set forth in Section 3 above. B. The proceeds of any such bonded indebtedness shall be applied only to the applicable specific purposes identified in Section 3 above. C. The document or documents establishing the terms and conditions for the issuance of any such bonded indebtedness shall provide for the creation of an account into which the proceeds of such indebtedness shall be deposited. Resolution 2002-313 Page 3 - D. The City Manager or his or her designee, acting for and on behalf of the District, shall annually file a report with this City Council as required by Government Code Section 53411. SECTION 8. ELECTION. The propositions related to the incurring of the bonded indebtedness shall be submitted to the appropriate qualified votem, together with ballot propositions to authorize the levy of special taxes within,the District and to establish an appropriations limit for the District, at a special election to be held on the 20th day of August, 2002, and such election shall be a special election to be conducted by the City Clerk (the "Election Official"). If any proposition for the levy of the special tax and any proposition for incurring the bonded indebtedness receive the approval of two-thirds (2/3) or more of the votes cast on each respective proposition, bonds may be authorized, issued and sold for the applicable purpose set forth herein and the applicable special tax may be levied as provided in Resolution of Formation. If the proposition to establish the appropriations limit for the District receives the approval of a majority of the votes cast on such proposition, such appropriations limit shall be established. SECTION 9. BALLOTS. The ballot proposals to be submitted to the qualified voters of each Improvement Area at the election shall generally be as follows: PROPOSITION A Shall the City of Chula Vista Community Facilities District No. 2001-2 (McMillin - Otay Ranch Village Six), subject to accountability measures set forth in Resolution No. 2002-313, levy a special tax throughout the 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 facilities described in such resolution? PROPOSITION B Shall the City of Chula Vista Community Facilities District No. 2001-2 (McMillin - Otay Ranch Portions of Village Six), subject to accountability measures set forth in Resolution No. 2002-313, incur a bonded indebtedness of such district in an amount not to exceed $13,000,000 for the specific purposes of financing the facilities described in such resolution? PROPOSITION C Shall the City of Chula Vista Community Facilities District No. 2001-2 (McMillin - Otay Ranch Portions of Village Six) establish an Article XIIIB appropriations limit equal to $13,000,0007 SECTION 10. VOTE. The appropriate mark placed in the voting square after the word "YES" shall be counted in favor of the adoption of the proposition, and the appropriate mark placed in the voting square after the word "NO" in the manner as authorized, shall be counted against the adoption of such proposition. SECTION 11. ELECTION PROCEDURE. The Election Official is hereby authorized to take any and all steps necessary for the holding of such election. The Election Official shall perform and render all services and proceedings incidental to and connected with the conduct of the election, which services shall include, but not be limited to, the following activities as are appropriate to the election: Resolution 2002-313 Page 4 A. Prepare and furnish to the election officers necessary election supplies for the conduct of the election. B. Cause to be printed the requisite number of official ballots, tally sheets and other necessary forms. C. Furnish and address official ballots for the qualified electors. D. Cause the official ballots to be delivered to the qualified electors or their authorized representatives, as required by law. E. Receive the returns of the election and supplies. F. Sort and assemble the election material and supplies in preparation for the canvassing of the returns. G. Canvass the returns of the election. H. Furnish a tabulation of the number of votes given in the election. I. Make all arrangements and take the necessary steps to pay all costs of the election incurred as result of services performed by the District and pay costs and expenses of all election officials. J. Conduct and handle all other matters relating to the proceedings and conduct of the election in the manner and form as required by law. Prepared by Approved as to form by ~tda~ M. Kaheny ~,) PflbFm Works Director (.~ity Attorney Resolution 2002-313 Page 5 - PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista, California, this 13th day of August, 2002, by the following vote: AYES: Councilmembers: Davis, Padilla, Rindone, and Salas NAYS: Councilmembers: None ABSENT: Councilmembers: Horton ATTEST: Susan Bigelow, City Clerl~ 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. 2002-313 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 August, 2002. Executed this 13th day of August, 2002. Susan Bigelow, City Clerk DESCRIPTION OF TYPES OF FACILITIES The types of public facilities authorized to be f'manced by the levy of special taxes within the District shall include streets, landscaping within public fights-of-way, sewers and public utilities as may be authorized by the goals and policies of the City Council pertaining to the use of the Community Facilities District Law.