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Home My WebLink AboutResolution - 3756 STATE OF CALIFORNIA) RESOLUTION NO. 3756 COUNTY OF RIVERSIDE) ss CITY OF SAN JACINTO) A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN JACINTO APPROVING THE ISSUANCE BY THE SAN JACINTO UNIFIED SCHOOL DISTRICT FINANCING AUTHORITY OF ITS SAN JACINTO UNIFIED SCHOOL DISTRICT FINANCING AUTHORITY SPECIAL TAX REVENUE BONDS, SERIES 2019 IN CONNECTION WITH CERTAIN DEVELOPMENT PROJECTS WITHIN THE CITY AND CERTAIN OTHER MATTERS RELATING THERETO WHEREAS, Community Facilities District No. 2003-1 of the San Jacinto Unified School District ("CFD No. 2003-1") is a community facilities district established by the San Jacinto Unified School District (the "School District") under the provisions of the Mello- Roos Community Facilities Act of 1982 (the"Mello-Roos Act"); WHEREAS, the facilities to be financed by CFD No. 2003-1 include certain facilities to be owned and operated by the City of San Jacinto (the"City"); WHEREAS, the City and the School District entered into a Joint Community Facilities Agreement, dated as of December 1, 2003, in accordance with the Mello-Roos Act, to provide for the financing of certain facilities to be owned and operated by the City through the issuance of bonds by CFD No. 2003-1; WHEREAS, CFD No. 2003-1 desires to issue its Community Facilities District No. 2003-1 of the San Jacinto Unified School District Special Tax Bonds (Infrastructure Projects), Series B (the "CFD Bonds"), in the aggregate principal amount of not to exceed $6,000,000, to finance facilities authorized to be financed by CFD No. 2003-1, including certain street improvements, including grading, paving, curbs and gutters, sidewalks, street signalization and signage, street lights and parkway and landscaping related thereto, public parks and recreation facilities and park land, located near the intersection of Warren Road and Cottonwood Avenue in the City (the "City Facilities"); WHEREAS, the Board of Trustees of the School District is the legislative body of CFD No. 2003-1; WHEREAS, the San Jacinto Unified School District Financing Authority (the "Authority")was formed under the Joint Exercise of Powers Act to provide financing for any of its members or other local agencies within the State of California in connection with the acquisition, construction and improvement of public capital improvements or working capital requirements of such members; WHEREAS, the School District is a member of the Authority; WHEREAS, thp Authority is authorized pursuant to the Marks-Roos Local Bond Pooling Act of 1985 (0)e "Marks-Roos Act") to purchase, with the proceeds of bonds of the Authority, bonds of local agencies within the State of California in order to assist such local agencies in financing or refinancing public capital improvements; WHEREAS, the Authority desires to purchase the CFD Bonds in order to assist CFD No. 2003-1 in financing such public facilities, including the City Facilities; WHEREAS, in order to, among other things, provide the moneys required to purchase the CFD Bonds, the Authority desires to provide for the issuance of its San Jacinto Unified School District Financing Authority Special Tax Revenue Bonds, Series 2019 (the "Authority Bonds"), in the aggregate principal amount of which that will be applied to the purchase of the CFD Bonds not to exceed $6,000,000; WHEREAS, pursuant to Section 6586.5 of the Marks-Roos Act, the financing of the City Facilities by the issuance of the Authority Bonds by the Authority requires the approval of, and the finding of a significant public benefit in accordance with the criteria specific in Section 6586 of the Marks-Roos Act by, the City after a hearing held by the City after notice of the hearing is published once at least five days prior to the public hearing in a newspaper of general circulation in the City; WHEREAS, the Authority and the School District have requested that the City Council of the City (the "City Council") approve the financing of the City Facilities by the issuance of the Authority Bonds and to make a determination as to the finding of a significant public benefit in accordance with the criteria specific in Section 6586 of the Marks-Roos Act; WHEREAS, on this date, the City held a public hearing on the financing of the City Facilities in accordance with Section 6586.5 of the Marks-Roos Act, which hearing was held at the San Jacinto Community Center, 625 S. Pico Avenue, San Jacinto, California; WHEREAS, in accordance with Section 6586.5 of the Marks-Roos Act, notice of such hearing was published once at least five days prior to the hearing in The Press- Enterprise, a newspaper of general circulation in the City, a proof of publication of which is attached hereto as Exhibit A; and WHEREAS, the City Council, on behalf of the City, now desires to provide the approval of the financing of the City Facilities by the issuance of the Authority Bonds by the Authority for the purposes of Section 6586.5 of the Marks-Roos Act, and to make the requisite public benefit finding required by Section 6586.5 of the Marks-Roos Act; NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of San Jacinto, California, as follows: Section 1. The foregoing recitals are true and correct. Section 2. The City Council hereby approves of the financing of the City Facilities by the issu6hce of the Authority Bonds by the Authority for the purposes of Section 6586.5 of the Marks-Roos Act. 2 Notwithstanding the foregoing or any other provision of this Resolution, the Authority Bonds and the CFD Bonds will not constitute an indebtedness of the City within the meaning of any constitutional or statutory provision, and the owners of the Authority Bonds and the CFD Bonds will not be paid in whole or in part out of any revenues or funds of the City. Section 3. The City Council hereby finds that the use of the Marks-Roos Act to assist CFD No. 2003-1 in financing the City Facilities will result in significant public benefits to the citizens to of the City, namely demonstrable savings in bond issuance costs. Section 4. The officers, employees and agents of the City are hereby authorized and directed,jointly and severally, to do any and all things and to execute and deliver any and all documents which they deem necessary or advisable in order to carry out, give effect to and comply with the terms and intent of this resolution and the financing transaction approved hereby. Section 5. All actions heretofore taken by the officers, employees or agents of the City in furtherance of the purposes of this Resolution are hereby ratified, confirmed and approved. Section 6. The City Clerk shall forward a certified copy of this resolution to the Authority at. San Jacinto Unified School District Financing Authority, c/o San Jacinto Unified School District, 2045 South San Jacinto Boulevard, San Jacinto, California 92583, Attention: Assistant Superintendent, Business Services. Section 7. This Resolution shall take effect immediately upon its adoption. The City Clerk shall certify to the adoption of this Resolution. PASSED, APPROVED AND ADOPTED this 2nd day of April, 2019, by the following vote: AYES: Kotyuk, Ledezma, Lopez, Ruiz, Utz NAYS : None ABSENT: None ABSTAIN: None CITY OF SAN JA�,-WTO: Ci Russell Utz, a ATTEST: Ange a o , ty tferk 3 APPROVED AS TO FORM: BEST BEST & KRIEGAR, LLP /I o Michael S. Maurer, City Attomey STATE OF CALIFORNIA) COUNTY OF RIVERSIDE) ss CITY OF SAN JACINTO) CERTIFICATE I, Angela Walton, City Clerk of the City of San Jacinto, do hereby certify that the foregoing Resolution No. 3756 was passed, approved, and adopted at the Regular Meeting of the San Jacinto City Council held on the 2nd day of April 2019. 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