HomeMy WebLinkAboutResolution - 3186 STATE OF CALIFORNIA ) RESOLUTION NO. 3186
COUNTY OF RIVERSIDE)
CITY OF SAN JACINTO )
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SAN JACINTO DECLARING NECESSITY FOR
PROPOSED CITY OF SAN JACINTO COMMUNITY
FACILITIES DISTRICT NO. 2008-1 (PARKSIDE) TO
INCUR A BONDED INDEBTEDNESS THEREOF
WHEREAS, pursuant to Section 53321 of the California Government Code, the
City Council (the "City Council") of the City of San Jacinto (the "City") has adopted a
resolution of intention (the "Resolutions of Intention") to establish proposed City of San
Jacinto Community Facilities District No. 2008-1 (Parkside), County of Riverside, State
of California (the "District'), for the purpose of providing and financing the acquisition,
construction, furnishing and equipping of public facilities which are necessary to meet
increased demands placed upon the City as a result of development which will occur
within said District; and
WHEREAS, the City Council desires to issue bonds of the District, the proceeds
of which will be used for purposes of acquisition, construction, furnishing and equipping
of public facilities to be owned by the City; and
WHEREAS, the City Council has determined that it is necessary for said District
to incur a bonded indebtedness to acquire, construct, furnish and equip the public
facilities; and
WHEREAS, the repayment of the bonds are to be secured by special taxes
levied on all property in the District.
NOW, THEREFORE, IT IS HEREBY RESOLVED by the City Council of the City
of San Jacinto, the following:
Section 1. Bonded Indebtedness. The City Council of the City of San Jacinto
declares that it is necessary that a bonded indebtedness be
incurred by and for the District, in an amount not to exceed
$3,500,000 within the District, and the establishment of an
appropriations limit of $1,000,000 within the District for the
purpose of financing the acquisition, construction, equipping and
furnishing of the public facilities described in the Resolution of
Intention with respect to the establishment of said District
heretofore adopted by the City Council.
Section 2. Costs Included. The amount of the proposed indebtedness shall
include all costs and estimated costs incidental to, or connected
with, the accomplishment of the purposes for which the proposed
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bonded indebtedness is to be incurred, including, but not limited
to, the estimated costs of construction, acquisition, equipping and
furnishing of the public facilities which are proposed to be provided
for the District, satisfaction of contractual obligations relating to
expenses or the advancement of funds for expenses existing at
the time the bonds are issued, architectural, engineering,
inspection, legal, appraisal, fiscal and financial 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 construction, acquisition,
equipping and furnishing of the public facilities, not to 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, and other credit enhancement costs, and printing costs.
Section 3. Payment_af_...Bonded Indebtedness. All non-exempt parcels of
property within the District shall be subject to the levy of special
taxes levied pursuant to the rates and method of apportionment of
special tax for the District to pay the principal of and interest on the
bonds issued thereof which may be issued and sold to finance the
design and construction of public facilities described in the
Resolution of Intention. The special tax within the District is to be
apportioned in accordance with the formulas set forth in Exhibit "C'
to the Resolution of Intention.
Section 4. Hearing.earing. A public hearing on the proposed bonded indebtedness
for said District shall be held at 7:00 p.m., or as soon thereafter as
the matter may be heard, on August 7, 2008, in the San Jacinto
Unified School District Board Room, located at 2045 South San
Jacinto Avenue, San Jacinto, California. Said hearing shall be
conducted concurrently with the hearing on the establishment of
said District.
Section 5. Notice. The City Clerk shall publish a notice of the time and place
of said hearing pursuant to Section 53346 of the California
Government Code, and shall also give notice of the time and place
of said hearing by first class mail to each registered voter and to
each landowner or owner of leasehold interest in land within the
District.
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`- SIGNED, APPROVED AND ADOPTED this 19th day of June, 2008, by the
following vote:
Ayes: Carlson, Mansperger, Stubblefield, Ayres
Nays: None
Abstain: None
Absent: Ritchie
CIT SAN CINTO
Jim A Mayor
ATTEST:
I(D uwu��Od
rothy L. C uinard, City Clerk
APPROVED AS TO FORM:
Cit A omey, City of n Jacinto
Best Best & Krieger LLP
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