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HomeMy WebLinkAbout1992-10-13 - AGENDA REPORTS - SOLEDADCYN FIN ASMT NO 92 4 (2)UNFINISHED BUSINESS DATE: October 13, 1992 City Manager Item to, be pr J `AI � Anthony J. Nisich7,,4 SUBJECT: SOLEDAD CANYON INTEGRATED FINANCING ASSESSMENT DISTRICT NO. 92.4 Ordinance No. 92-16 DEPARTMENT: Community Development On September 22, 1992, a continued public hearing was held to address concerns from several property owners regarding Assessment District No. 92-4. These concerns, addressed in a report referencing protests along with Ordinance No. 92-16 and the final Engineer's Report, were introduced to the Council. The Engineer's Report was modified by the Council to clarify the issue of Bridge and Thoroughfare District credits and then approved. Following this approval, the ordinance was adopted. The next step is the second reading of Ordinance No. 92-16. This ordinance will then go into effect 30 days from October 13, 1992 at which time the assessment diagram and notice of lien will be recorded with the Los Angeles County Recorder. RECOMMENDATION Approve second reading and adopt Ordinance No. 92-16. ATTACHMENTS Ordinance No. 92-16 DLS=02-16. 02 Adopted: /D QgerO.j Item: CITY OF SANTA CLARITA ORDINANCE NO. 92-16 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SANTA CLARITA, CALIFORNIA, ORDERING FORMATION OF ITS SOLEDAD CANYON INTEGRATED FINANCING ASSESSMENT DISTRICT NO. 92-4 THE CITY COUNCIL OF THE CITY OF SANTA CLARITA, CALIFORNIA, DOES ORDAIN AS FOLLOWS: WHEREAS, the City Council ("City Council") of the City of Santa Clarita, California, ("City") on July 14,1992, adopted its Resolution No. 92-143 (the "Resolution of Intention") declaring it intention to proceed with the construction of certain improvements and payment of incidental expenses by creation of its Soledad Canyon Integrated Financing Assessment District No. 92-4 ("District"), as shown on that certain map designated "Proposed Boundaries of Soledad Canyon Integrated Financing Assessment District No. 92-4," attached to the Resolution of Intention and incorporated therein as 'Exhibit "A..; and WHEREAS, the City Council of the City has considered all matters relating to the proposed financing and construction of certain public improvements in the vicinity of Soledad Canyon Road pursuant to the Integrated Financing District Act ("Financing District Act") and the Municipal Improvement Act of 1913 ("Improvement Act"), and specifically for the levy of contingent assessments ("Assessments") against propertieswithin the District, a description of the rate and method of apportionment for such Assessments being attached to the Resolution of Intention and incorporated therein as 'Exhibit "B..; and WHEREAS, as City previously provided funds to finance said improvements by the execution and delivery of "Certificates of Participation (Capital Improvement Projects) Evidencing A Proportionate Interest Of The Owners Thereof In Lease Payments To Be Made By the City of Santa Clarita (Los Angeles County, California) to the Redevelopment Agency of the City of Santa Clarita" ("Certificates") dated October 1, 1991, in the original principal amount of $22,940,000; and WHEREAS, pursuant to the Resolution of Intention, the City has determined that the public interest and convenience require construction of certain improvements described in 'Exhibit "C'" attached to the Resolution and Intention and incorporated therein at an estimated cost of $3,000,000, and proposes to proceed with construction of said improvements with a portion of the proceeds of the Certificates; and WHEREAS, pursuant to the Resolution of Intention, the City finds that it is in the best interest of the City, is in the pubic interest and is for the public benefit that the City seek full or partial payment or reimbursement of certain lease payments related to the Certificates from the proceeds of the Assessments; and WHEREAS, the Financing District Act provides an alternative method of financing the improvements, by authorizing the Assessments which are contingent upon the development of land and which may be made payable at the time of approval of a tentative subdivision map, vesting tentative subdivision map, final subdivision map, zoning change, or upon receipt of a building permit for any parcels which have already received all other required approvals for development; and ORDINANCE NO. 92.16 Page 2 WHEREAS; the Financing District Act authorizes proceedings to create an integrated financing district to be combined with formation proceedings under the Improvement Act; and WHEREAS, at a duly noticed public hearing held on August 25, 1992, the City Council did not receive protests from owners of more than one-half (1/2) of the area of the property within the District; SECTION 1. The City Council of the City of Santa Clarita does hereby find, a. The above recitals are true and correct. b. Pursuant to Government Code Section 53184, the City Council of the City of Santa Clarita hereby determines to proceed with formation of the District as set out in the Resolution of Intention, as modified herein. c. The total amount of the principal sum of all unpaid special assessments levied against the parcels proposed to be assessed, plus the principal amount of, the contingent assessment proposed to be levied in the instant proceedings, does not exceed one-half of the total value of the parcels proposed to be assessed. d. The Engineer's Report as modified (the "Final Engineer's Report"), the assessment, and the diagram are herebyconfirmed and approved. The Final Engineer's Report shall stand as the report for the purpose of all subsequent proceedings for Assessment District No. 924 and shall govern all details thereof. A true and correct copy of the Final Engineer's Report is • attached hereto and incorporated herein as Exhibit "A". e. The improvements be constructed in accordance with the Resolution of Intention and the Final Engineer's Report for Assessment District No. 92-4. f. The Negative Declaration respecting Assessment District No. 92-4 is hereby approved and the City Clerk shall record the Notice of Determination in the office of the County Recorder. g. The Resolution of Intention Is modified to state that pursuant to a reimbursement agreement (the "Agreement"), the City shall repay advances of funds from the proceeds of the Certificates made to finance improvements within the District. The Agreement shall provide that the City issue a warrant pursuant to the requirements of Government Code Section 53190.5(b). The general fund of the City, its credit, or its taxing power shall not be liable for any obligation arising out of the Agreement. The City shall not be compelled to exercise Its taxing power or forfeit any of its property to satisfy any obligation arising out of the Agreement. SECTION 2. The Mayor shall sign this ordinance and the City Clerk shall attest to such signature. The City Clerk is directed to cause the title and summary of the same, together with the vote thereon, to be published within fifteen (15) days after its passage at least once in the Newhall Signal, a newspaper of general circulation published and circulated in the City and to post at the offices of the City a certified copy of the full text of the adopted ordinance along with the names of the councilmembers voting for and against the ordinance. ORDINANCE NO. 92-16 Page 3 SECTION 3. This ordinance relating to the levy of contingent assessments takes effect and shall be in force from and after thirty (30) days from the date of final passage. A copy of this ordinance shall be transmitted to the Clerk of the Board of Supervisors of Los Angeles County, and the Assessor and the Treasurer -Tax Collector of Los Angeles County. PASSED AND ADOPTED by the City Council of the City of Santa Clarita, California at a regular meeting held an the CITY OF SANTA CLARITA, CALIFORNIA Mayor ATTEST: City Clerk STATE OF CALIFORNIA CITY OF SANTA CLARITA § COUNTY OF LOS ANGELES I, Donna Grindey, City Clerk of the City of Santa Clarita, California, do hereby certify that the foregoing Ordinance No. 92-16. was regularly introduced and placed upon its first reading at a regular meeting of the City Council on the . That thereafter, said ordinance was duly adopted and passed at a regular meeting of the City Council on the day of 1992, by the following vote, to wit: AYES: COUNCILMEMBERS: NOES: COUNCILMEMBERS: ABSENT: COUNCILMEMBERS: ABSTAIN: COUNCILMEMBERS: City Clerk DMORD92.16.AGN