HomeMy WebLinkAboutResolution - 3569 STATE OF CALIFORNIA ) RESOLUTION NO. 3669
COUNTY OF RIVERSIDE ) ss
CITY OF SAN JACINTO )
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SAN JACINTO DECLARING NECESSITY FOR
PROPOSED COMMUNITY FACILITIES DISTRICT NO.
2015-1 OF THE CITY OF SAN JACINTO TO INCUR
BONDEDINDEBTEDNESS
WHEREAS, the City of San Jacinto (the "City") has formed its Community
Facilities District No. 2002-1 (Rancho San Jacinto, Phase 2) ("CFD No. 2002-1) and, in
connection therewith, has issued its San Jacinto Financing Authority 2002 Local Agency
Revenue Bonds, Series A (Tranches A through D) in the original principal amount of
$17,841,416.76 (the "2002 Bonds") which are secured by special taxes levied by the
City on property within the boundaries of CFD No. 2002-1, and because of the
delinquent payment of the special taxes levied in CFD No. 2002-1, the 2002 Bonds
were in default with respect to the payment of the principal and interest with respect
thereto; and
WHEREAS, the City and Tower Music City, LLC, owner of property
located within CFD 2002-1 ("Owner"), entered into a Memorandum of Understanding
which permitted the Owner to sell certain parcels of property to Eastern Municipal Water
District, provided, however, that a community facilities district be formed on the
remaining parcels owned by Owner to finance the payment of a portion of the principal
of and interest on the 2002 Bonds; and
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 declaring its intention to establish proposed Community Facilities
District No. 2015-1 of the City of San Jacinto, County of Riverside, State of California,
for the purpose of providing and financing additional special taxes for the payment of a
portion of the principal of and interest on the 2002 Bonds that are necessary to meet
increased demands placed upon the City as a result of development that will occur
within said proposed community facilities district (the "Resolution of Intention"); and
WHEREAS, the City Council has determined that it is necessary for said
proposed community facilities district to incur a bonded indebtedness for the purpose of
providing and financing such public facilities; and
WHEREAS, it is therefore necessary for the proposed community facilities
district to incur a bonded indebtedness for the purpose of providing and financing
additional special taxes for the payment of a portion of the principal of and interest on
the 2002 Bonds.
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NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED
BY THE CITY COUNCIL OF THE CITY OF SAN JACINTO, CALIFORNIA, AS
FOLLOWS:
Section 1. Bonded Indebtedness. The City Council declares that it is
necessary that bonded indebtedness be incurred by and for proposed Community
Facilities District No. 2015-1 of the City of San Jacinto, County of Riverside, State of
California, in an aggregate principal amount not to exceed $5,500,000 for the purpose
of financing the a portion of the principal of and interest on the 2002 Bonds, as
described in the Resolution of Intention.
Section 2. Costs Included. The amount of the proposed bonded
indebtedness shall include all costs and estimated costs incidental to, or connected
with, the accomplishment of the purposes for which the proposed bonded indebtedness
is to be incurred, including, but not limited to, the incidental expenses which will be
incurred are all costs associated with the creation of the proposed community facilities
district, issuance of the bonds thereof, the determination of the amount of and collection
of taxes, and the payment of taxes, and costs otherwise incurred in order to carry out
the authorized purposes of the community facilities district.
Section 3. Payment of Bonded Indebtedness. Pursuant to Section 4 of
the Resolution of Intention and Section 53350 of the California Government Code, all
parcels of taxable property within the territory of the proposed community facilities
district shall be subject to the levy of special taxes to pay the principal of and interest on
the aggregate principal amount of the bonds of the proposed community facilities district
that may be issued and sold to finance the Facilities.
Section 4. Hearing. A public hearing on the proposed bonded
indebtedness for said proposed community facilities district shall be held at 6:30 p.m. on
June 18, 2015 in the City Council Chambers located at 2045 S. San Jacinto Avenue,
San Jacinto, California. Said hearing shall be conducted concurrently with the hearing
on the formation of the proposed community facilities 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 within the proposed community facilities
district.
PASSED, APPROVED AND ADOPTED this 5ch day of May, 2015, by the
following vote:
Ayes: Bartel, Kotyuk, Ledezma, Miller, Ruiz
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PASSED, APPROVED AND ADOPTED this 5th day of May, 2015, by the
following vote:
Ayes: Bartel, Kotyuk, Ledezma, Miller, Ruiz
Nays: None
Absent: None
Abstain: None
City of San Jacinto
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rystal uiz, Mayor
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Rzftb MilTer, CitV Clerk
APPROVED AS TO FORM:
Best Best & Krieger LLP
Jeffre7 SI.rBallingerjoetFy Attorney
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CERTIFICATION
I, Rick Miller, City Clerk of the City of San Jacinto, certify that the
foregoing resolution was adopted by the City Council of the City of San Jacinto at a
regular meeting held on the 5th day of May, 2015, by the following vote:
AYES: Bartel, Kotyuk, Ledezma, Miller, Ruiz
NOES: None
ABSENT: None
ABSTAIN: None
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the
official seal of the City of San Jacinto this 5th day of May, 2015.
111A-
Ric rd Miller, City Clerk
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