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HomeMy WebLinkAboutReso 2005-234 RESOLUTION NO. 2005-234 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA VISTA DECLARING THE NECESSITY OF COMMUNITY FACILITIES DISTRICT NO. 12-1 (MCMILLIN - OTAY RANCH - VILLAGE SEVEN) TO INCUR A BONDED INDEBTEDNESS TO BE SECURED BY SPECIAL TAXES TO PAY FOR THE ACQUISITION OR CONSTRUCTION OF CERTAIN PUBLIC FACILITIES WHEREAS, the City Council of the City ofChula Vista (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 I, 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 or construction of certain authorized facilities described in Exhibit A attached hereto and incorporated herein by this reference (the "Facilities"). This Community Facilities District shall hereinafter be referred to as Community Facilities District No. 12-1 (McMillin - Otay Ranch - Village Seven) (the "District"); and WHEREAS, it is the intention of this legislative body to finance the acquisition or construction 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 I. The above recitals are all true 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 Facilities. SECTION 3. The purpose for the proposed debt of the District is to contribute to the financing of the acquisition or construction of 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 $25,000,000. f Resolution No. 2005-234 Page 2 SECTION 5. Notice is given that on August 16,2005, 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 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 matters 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 2~x.~~=- Sohaib Al-Agha City Engineer ~~ Ann Moore City Attorney Resolution No. 2005-234 Page 3 PASSED, APPROVED, and ADOPTED by the City Council of the City ofChula Vista, California, this 12th day of July, 2005, by the following vote: AYES: Councilmembers: Davis, McCann, Rindone, and Padilla NAYS: Councilmembers: None ABSENT: Councilmembers: Castaneda d~u "Stephen C. Padilla, Mayor ATTEST: ~i4~K~ Susan Bigelow, MMC, 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. 2005-235 was duly passed, approved, and adopted by the City Council at a regular meeting ofthe Chula Vista City Council held on the 12th day of July, 2005. Executed this 12th day of July, 2005. ~ --l tu.-J-:;;;;:S.' ~ Susan Bigelow, MMC, City cle1r Resolution No. 2005-234 Page 4 EXHIBIT A DESCRIPTION OF TYPES OF FACILITIES The public facilities authorized to be financed from the proceeds of bonds issued by the District and secured by the levy of special taxes within the District shall include backbone streets and related improvements, including without limitation, grading, landscaping, sewers, drainage improvements and pedestrian bridges, and public utilities and other public improvements authorized to be financed from the proceeds ofthe Public Facilities Development Impact Fee as may be authorized by the goals and policies ofthe City Council pertaining to the use of the Community Facilities District Law. ~