HomeMy WebLinkAboutResolution - 3580 STATE OF CALIFORNIA ) RESOLUTION NO. 3580
COUNTY OF RIVERSIDE)ss
CITY OF SAN JACINTO )
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SAN JACINTO DETERMINING THE NECESSITY FOR
COMMUNITY FACILITIES DISTRICT NO. 2015-1 OF THE
CITY OF SAN JACINTO TO INCUR A BONDED
INDEBTEDNESS IN AN AGGREGATE PRINCIPAL
AMOUNT NOT TO EXCEED $5,500,000 FOR PROVIDING
PUBLIC FACILITIES WITHIN AND FOR THE COMMUNITY
FACILITIES DISTRICT, AND CALLING A SPECIAL
ELECTION FOR THE COMMUNITY FACILITIES DISTRICT
ON PROPOSITION FOR INCURRING SUCH BONDED
INDEBTEDNESS
WHEREAS, on May 5, 2015, the City Council (the "City Council") of the
City of San Jacinto (the "City"), pursuant to the Mello-Roos Community Facilities Act of
1982, as amended, Chapter 2.5 (commencing with Section 53311) of Part 1 of Division
2 of Title 5 of the California Government Code (the "Act"), adopted Resolution No. 3569
declaring the necessity for Community Facilities District No. 2015-1 of the City of San
Jacinto (Supplemental Special Tax to Rancho San Jacinto, Phase 2), County of
Riverside, State of California (the "Community Facilities District"), to incur a bonded
indebtedness for the purpose of providing public facilities which are necessary for the
development of the property therein, and scheduling a hearing thereon; and
WHEREAS, notice of the hearing was published and mailed as required
by law; and
WHEREAS, on June 18, 2015, at the time and place of the public hearing
the City Council conducted the hearing and afforded all persons interested, including
persons owning property within the Community Facilities District, an opportunity to be
heard on the proposed authorization to incur bonded indebtedness, and no protests
were received; and
WHEREAS, on June 18, 2015, the City Council adopted a resolution
establishing the Community Facilities District pursuant to Section 53325.1(a) of the
California Government Code, establishing the Community Facilities District (the
"Resolution of Formation"); and
WHEREAS, it is necessary for the Community Facilities District to incur a
bonded indebtedness for the purpose of providing and financing the public facilities for
the Community Facilities District;
NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED
BY THE CITY COUNCIL OF THE CITY OF SAN JACINTO AS FOLLOWS:
24438.70020\9786519.3
Section 1. Necessity. The City Council declares that it is necessary that
a bonded indebtedness be incurred by and for Community Facilities District No. 2015-1
of the City of San Jacinto (Supplemental Special Tax to Rancho San Jacinto, Phase 2),
County of Riverside, State of California, in an aggregate principal amount not to exceed
$5,500,000 for the purpose of financing the payment of a portion of the debt service on
the San Jacinto Financing Authority 2002 Local Agency Revenue Bonds, Series A
(Tranches A through D) (the "2002 Bonds") as described in the Resolution of Formation.
Section 2. Amount of Debt; Terms of Bonds. The aggregate principal
amount of the bonded indebtedness to be incurred by the Community Facilities District
shall not exceed $5,500,000. The maximum term of the bonds shall not exceed 40
years. The maximum annual rate of interest to be paid semiannually on the bonds shall
not exceed 12 percent per annum or such other rate as may be the maximum interest
rate permitted by law.
Section 3. Proposition to be Submitted to Voters. The proposition to
be submitted to the voters within the Community Facilities District with respect to the
proposed bonded indebtedness shall be as follows:
Shall a bonded indebtedness in an aggregate
principal amount not to exceed $5,500,000 be incurred
by and for Community Facilities District No. 2015-1
(Supplemental Special Tax to Rancho San Jacinto,
Phase 2) of the City of San Jacinto, County of
Riverside, State of California, for a maximum term of
not more than 40 years and with interest at a rate or
rates not to exceed the maximum interest rate
permitted by law, for the purpose of financing a portion
of the principal of and interest on the San Jacinto
Financing Authority 2002 Local Agency Revenue
Bonds, Series A (Tranches A through D) (the "2002
Bonds") and paying incidental expenses as provided in
Resolution No. 3569 adopted by the City Council of the
City of San Jacinto on May 5, 2015?
Section 4. Election. The date of the special election with respect to the
incurring of the aforementioned bonded indebtedness, at which time the proposition set
forth in Section 3 hereof shall be submitted to the voters of the Community Facilities
District is June 18, 2015, and the special election is hereby called for that date. The
special election shall be consolidated with the special election with respect to the
propositions for (i) the levy of special taxes for the payment of the principal of and
interest on the 2002 Bonds and to pay or accumulate funds for paying the costs thereof
and (ii) establishing an appropriations limit for the Community Facilities District which
has also been called for June 18, 2015. The consolidated special elections shall be
conducted by mail ballot pursuant to applicable provisions of the California Elections
Code with respect to mail-ballot elections of community facility districts and specifically
Division 4 (commencing with Section 4000) of that Code, insofar as they may be
24138.70020\9786519.3 -2-
applicable. The voted official ballot shall be returned to the City Clerk of the City
Council by 4:00 p.m. on the date of the election; provided that the election shall be
closed before such hour if the City Clerk determines that all qualified electors have
voted.
Section & Accountability Measures. Pursuant to Section 53410 of
the California Government Code, if the voters approve the proposition contained in the
official ballot for the consolidated special elections with respect to the Community
Facilities District incurring bonded indebtedness for the purposes for which such
indebtedness is to be incurred (the `Bond Proposition") and bonds of the Community
Facilities District are to be issued, the incurring of such bonded indebtedness and the
issuance of bonds of the Community Facilities District shall be subject to the following
accountability measures:
(a) The Bond Proposition shall identify the specific purposes for which
the bonds are to be issued;
(b) The proceeds of the bonds shall be applied only for the specific
purposes identified in the Bond Proposition;
(c) An account or accounts shall be created pursuant to the bond
indenture or fiscal agent agreement for such bonds into which the proceeds of the sale
of such bonds shall be deposited; and
(d) The chief financial officer of the City shall file a report with the City
Council no later than January 2 of the calendar year beginning after the year in which
the bonds are issued and annually thereafter, which shall contain the information
required by Section 53411 of the California Government Code.
The City Council finds that the Bond Proposition which will be set forth in
the official ballot for the consolidated special elections, and which is set forth in Section
3 hereof, identifies the specific purposes for which the Community Facilities District will
incur bonded indebtedness and issue bonds.
24438.70020\9786519.3 -3-
PASSED, APPROVED and ADOPTED this 18th day of June, 2015, by the
following vote:
AYES: Bartel, Ledezma, Miller, Ruiz
NAYS: None
ABSENT: Kotyuk
ABSTAIN: None
City of San Jacinto
Crystal uiz, Mayor
ATTE
Richard Miller, City Clerk
24438 70020\9786519.3 -4-
CERTIFICATION
I, Richard Miller, City Clerk of the City Council 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 special meeting held on the 18th day of June, 2015, by the following vote:
AYES: Bartel, Ledezma, Miller, Ruiz
NAYS: None
ABSENT: Kotyuk
ABSTAIN: None
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the
official seal of the City of San Jacinto this 18th day of June, 2015.
Ric and Miller, City Clerk
-5-
24438.7002D97865193