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HomeMy WebLinkAboutReso 2003-009 RESOLUTION NO. 2003-009 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA VISTA DECLARING ITS INTENTION TO ISSUE BONDS OF COMMUNITY FACILITIES DISTRICT NO. 07-1 (BROOKFIELD SHEA OTAY - VILLAGE ELEVEN) TO BE SECURED BY SPECIAL TAXES LEVIED WITHIN SUCH DISTRICT TO PAY FOR THE ACQUISITION OR CONSTRUCTION OF CERTAIN FACILITIES WHEREAS, the City Council of the City of Chula Vista, California (the "City Council"), has initiated proceedings to create 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 (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") to finance the acquisition of certain authorized facilities. This Community Facilities District shall hereinafter be referred to as Community Facilities District No. 07-I (Brookfield Otay Shea, LLC - Otay Ranch - Village Eleven) (the "District"); and WHEREAS, it is the intention of this legislative body to finance the acquisition of all or a portion of such facilities through the issuance of bonds to be issued by the District, such bonds to be secured by special taxes to be levied on taxable property within the District, all as authorized pursuant to the Community Facilities District Law. NOW THEREFORE IT IS HEREBY RESOLVED: SECTION 1. The above recitals are all tree and correct. SECTION 2. This City Council declares that the public convenience and necessity requires that a bonded indebtedness be incurred by the District to contribute to the financing of all or a portion of the authorized facilities. SECTION 3. The purpose for the proposed debt of the District is to contribute to the financing of the acquisition or construction of authorized facilities consisting of the types of public facilities described in Exhibit A attached hereto and incorporated heroin by this reference (the "Facilities"). SECTION 4. The amount of the bonded indebtedness of the District may include all costs and estimated costs incidental to, or connected with, the accomplishment of the purpose for which the indebtedness is proposed to be incurred as authorized pursuant to the Community Facilities District Law. The amount of the indebtedness proposed to be authorized for the District is $45,000,000. SECTION 5. NOTICE IS GIVEN THAT ON JANUARY 14, 2003, AT THE HOUR OF 6:00 O'CLOCK P.M. IN THE REGULAR MEETING PLACE OF THE LEGISLATIVE BODY, BEING THE COUNCIL CHAMBERS, CITY HALL, LOCATED AT 276 FOURTH STREET, CHULA VISTA, CALIFORNIA, A HEARING WILL BE HELD ON THE INTENTION OF THIS LEGISLATIVE BODY TO INCUR A SEPARATE BONDED INDEBTEDNESS OF Resolution 2003-009 Page 2 THE DISTRICT TO CONTRIBUTE TO THE FINANCING OF THE FACILITIES, SUCH - INDEBTEDNESS TO BE SECURED BY THE LEVY OF SPECIAL TAXES WITHIN THE DISTRICT. AT THE TIME AND PLACE FIXED FOR SAID PUBLIC HEARING ANY PERSONS INTERESTED, INCLUDING PERSONS OWNING PROPERTY WITHIN THE DISTRICT, MAY APPEAR AND PRESENT ANY MATYERS RELATING TO THE PROPOSED INTENTION AND NECESSITY FOR INCURRING A BONDED INDEBTEDNESS OF THE DISTRICT WHICH WILL CONTRIBUTE TO THE FINANCING OF ALL OR A PORTION OF THE FACILITIES AND WHICH 'WILL BE SECURED BY A SPECIAL TAX TO BE LEVIED WITHIN THE DISTRICT. SECTION 6. Notice of the time and place of the public hearing shall be given by the City Clerk by publishing a Notice of Public Hearing in a legally designated newspaper of general circulation, said publication pursuant to Section 6061 of the Government Code, with said publication to be completed at least seven (7) days prior to the date set for the public hearing. Prepared by Approved as to form by PulS~ic Works Director City Attorney Resolution 2003-009 Page 3 PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista, California, this 7th day of January, 2003, by the following vote: AYES: Councilmembers: Davis, Rindone, Salas, and Padilla NAYS: Councilmembers: None ABSENT: Councilmembers: McCann ATTEST: Susan B£gelow, 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. 2003-009 was duly passed, approved, and adopted by the City Council at a regular meeting of the Chula Vista City Council held on the 7th day of January, 2003. Executed this 7th day of January, 2003. Susan Bigelow, City Clerl~ EXHIBIT A DESCRIPTION OF TYPES OF FACILITIES The types of public facilities authorized to be financed by the levy of special taxes within the District shall include streets, landscaping within public fights-of-way, sewers and public utilities and other public improvements authorized to be financed from the proceeds of the Public Facilities Development Impact Fee as may be authorized by the goals and policies of the City Council pertaining to the use of the Community Facilities District Law.