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HomeMy WebLinkAbout1992-08-25 - AGENDA REPORTS - VALENCIA TOWN CENTER (2)AGENDA REPORT City Manager Approval Item to be presented UNFINISHED BUSINESS Steve Stark S 5 DATE: August 25, 1992 SUBJECT: Community Facilities District -No. 92-1 (Valencia Town Center) Ordinance No. CFD 92-1-1 DEPARTMENT: Finance BACKGROUND At the July 14, 1992 meeting, Council held the first reading of Ordinance No. CFD 92-1-1. Ordinance No. CFD 92-1-1 authorizes the levy of a special tax within the boundaries of Community Facilities District No. 92-1 (Valencia Town Center) pursuant to the Rate and Method of Apportionment set forth in Exhibit A of the Ordinance. The special tax shall be an amount necessary to pay all of the costs of providing the Facilities, periodic costs, costs of the tax levy and collection, and all other costs including amounts payable with respect to the bonded indebtedness. Annually, the City Council, as the legislative body of Community Facilities District No. 92-1, will determine the specific special tax rate and amount to be levied for the next fiscal year. The.special tax rate to be levied shall not exceed those set forth in Exhibit A of the Ordinance. Other procedural steps remaining for the formation of Community Facilities District No. 92-1 include the final amendment and adoption of _Resolution No. CFD 92-1-4, Providing for the Issuance of the Bonds, which staff will bring to Council in September. It is anticipated that the closing for the bonds will occur during the first week of October. RECOMMENDATION Approve and Adopt Ordinance No. CFD 92-1-1 Ordinance No. CFD 92-1-1 Adopted: Agenda Item: ORDINANCE NO. CFD 92-1-1 ORDINANCE OF THE CITY COUNCIL OF THE CITY.OF SANTA CLARITA, ACTING AS THE LEGISLATIVE BODY OF COMMUNITY FACILITIES DISTRICT NO. 92-1 (VALENCIA TOWN CENTER) AUTHORIZING THE LEVY OF A SPECIAL TAX WHEREAS, the City Council of the City of Santa Clarita, California (the "Council") is authorized. to adopt ordinances pursuant to Government Code Section 53316; and WHEREAS, on June 9, 1992, the Council adopted Resolution No. 92-109 stating its intention to form Community Facilities District No. 92-1 of the City of Santa Clarita (Valencia Town Center) ("Community Facilities District No. 92-1") pursuant to the Mello -Ross. Community Facilities Act of 1982, as amended, (the "Act");.and WHEREAS, on June 9, 1992, the Council also adopted Resolution No. 92-110 stating its intention to incur bonded indebtedness in the amount of not -to -exceed $20,000,000 within proposed Community Facilities District No. 92-1 for the purpose of financing the purchase, construction, expansion or rehabilitation of certain real and other tangible property with an estimated useful life of five (5) years or longer, including sewer, street, fire protection, bridge, paseo and drainage improvements and other governmental facilities which the City and other public entities are authorized by law to construct, own or operate, which are necessary to meet increased demands placed upon the City and other public entities as a result of development or rehabilitation occurring within the proposed Community Facilities District No. 92-1 (the "Facilities"), to serve the area within Community Facilities District No. 92-1; and WHEREAS, notice was published as required by law relative to the intention of the Council to form proposed Community Facilities District No. 92-1 and to incur bonded indebtedness in the amount not -to -exceed $20,000,000 within the boundaries of Community Facilities District No. 92-1; and WHEREAS, on July 14, 1992, this Council held a noticed public hearing as required by law relative to the determination to proceed with the formation of Community Facilities District No. 92-1, the rate and method of apportionment -and -.manner of- _collection of the special tax to be levied within Community Facilities District No. 92-1 to pay the principal and interest on the proposed bonded indebtedness of Community Facilities District No. 92-1 and relative to the necessity for authorizing the bonds,. the purpose for which the bonds are to be issued, the amount of the proposed debt, the maximum term of the bonds and the maximum annual rate of interest to be paid; and WHEREAS, at said hearing all persons desiring to be heard on all matters pertaining to the formation of Community Facilities District No. 92-1 and the incurring of bonded indebtedness by Community Facilities District No. 92-1 were heard and a full and fair hearing was held; and WHEREAS, the Council subsequent to said hearing adopted Resolution No. 92-142 determining the validity of prior proceedings relative to the formation of Community Facilities -2- District' No. 92-1, established Community Facilities District No. 92-1 and authorized the levy of a special tax within Community Facilities District No. 92-1; and WHEREAS, the Council subsequent to said hearing adopted Resolution No. CFD 92-1-2 which called an election within Community Facilities District No. 92-1 for July 14, 1992 on the proposition of incurring bonded. indebtedness, levying a special tax and setting an appropriations limit; and WHEREAS, the Board subsequent to said hearing also adopted Resolution No. CFD 92-1-1 which determined the necessity to incur bonded indebtedness in the amount not -to - exceed $20,000,000 within Community Facilities District No. 92-1; and WHEREAS, on July 14, 1992, an election was held within Community Facilities District No. 92-1 in which the eligible electors approved by more than two-thirds (2/3) vote the proposition of incurring bonded indebtedness and levying a special tax; NOW, THEREFORE, the City Council of the City of Santa Clarita, California, acting as the legislative body of Community Facilities District No. 92-1, does- ordain as follows: Section 1. A special tax is levied within the boundaries of Community Facilities District No. 92-1 pursuant to the Rate and Method of Apportionment set forth in Exhibit "A" attached hereto and herby incorporated herein by reference in an amount necessary to pay all of the costs of -3- ORDINANCE NO. CFD 92-1-1 ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SANTA CLARITA, ACTING AS THE LEGISLATIVE BODY OF COMMUNITY FACILITIES DISTRICT NO. 92-1 (VALENCIA TOWN CENTER) AUTHORIZING THE LEVY OF A SPECIAL TAX WHEREAS, the City Council of the City of Santa Clarita, California (the "Council") is authorized to adopt ordinances pursuant to Government Code Section 53316; and WHEREAS, on June 9, 1992, the Council adopted.Resolution No. 92-109 stating its intention to form -Community Facilities District No. 92-1 of the City of Santa Clarita (Valencia Town Center) ("Community Facilities District No. 92-1") pursuant to the Mello -Ross Community Facilities Act of 1982,. as amended, (the "Act"); and WHEREAS, on June 9, 1992, the Council also adopted Resolution No. 92-110 stating its intention to incur bonded indebtedness in the amount of not -to -exceed $20,000,000 within proposed Community Facilities District, No. 92-1 for the purpose of financing the purchase, construction, expansion or rehabilitation of certain real and other tangible property with an -estimated useful life of five (5) years or longer, including sewer, street, fire protection, bridge, paseo and drainage improvements and other governmental facilities which the City and other public entities are authorized by law to construct, own or operate, which are necessary to meet increased -demands placed upon the City and other public entities as a result of development or rehabilitation occurring within the proposed Community Facilities District No. 92-1 (the "Facilities"), to serve the area within Community Facilities District No. 92-1; and WHEREAS, notice was published as required by law relative to the intention of the Council to form proposed Community Facilities District No. 92-1 and to incur bonded indebtedness in the amount not -to -exceed $20,000,000 within the boundaries of Community Facilities District No. 92-1; and WHEREAS, on July 14, 1992, this Council held a noticed public hearing as required by law relative to the determination to proceed with the formation of Community Facilities District No. 92-1, the rate and method of apportionment and manner of collection of the special tax to be levied within Community Facilities District No. 92-1 to pay the principal and interest on the proposed bonded indebtedness of Community Facilities District No. 92-1 and relative to the necessity for authorizing the bonds, the purpose for which the bonds are to be issued, the amount of the proposed debt, the. maximum term of the bonds -and the maximum annual rate of interest to be paid;. and WHEREAS, at said hearing all persons desiring to be heard on all matters pertaining to the formation of Community Facilities District No. 92-1 and -the incurring of bonded indebtedness by Community Facilities District No. 92-1 were heard and a full and fair.hearing was held; and WHEREAS, the Council subsequent to said hearing adopted Resolution No. 92-142 determining the validity of prior proceedings relative to the formation of Community Facilities -2- District No. 92-1, established Community Facilities District No. 92-1 and authorized the levy of a special tax within Community Facilities District No. 92-1; and WHEREAS, the Council subsequent to said hearing adopted Resolution No. CFD 92-1-2 which called an election within Community Facilities District No. 92-1 for July 14, 1992 on the proposition of incurring bonded indebtedness, levying a special tax and setting an appropriations.limit; and WHEREAS, the Board subsequent to said hearing also adopted Resolution No. CFD 92-1-1 which determined. the necessity to incur bonded indebtedness in the amount not -to - exceed $20,000,000 within Community Facilities District No. 92-1; and WHEREAS, on July 14, 1992, an election was held within Community Facilities District No. 92-1 in which the eligible electors approved by more than two-thirds (2/3) vote the proposition of incurring bonded indebtedness- and levying a special tax; NOW, THEREFORE, the City Council of the City of Santa Clarita, California, acting as the legislative body of Community Facilities District No. 92-1, does ordain as follows: Section 1. A special tax is levied within the boundaries of Community Facilities District No. 92-1 pursuant to the Rate and Method of Apportionment set forth in Exhibit "A" attached hereto and herby incorporated herein by reference in an amount necessary .to pay all of the costs of -3- providing the Facilities, periodic costs, and costs of the tax levy and collection, and all other costs including amounts payable with respect to the bonded indebtedness. Section 2. This legislative body is hereby further authorized each year, by resolution, to determine the specific special tax rate and amount to be levied for the next: fiscal year, except that the special tax rate to be levied shall not exceed those set forth in Exhibit "A". Section 3. All of the collections of the special tax shall be used as provided for in the Act and Resolution No. 92-109. Section 4. The above authorized special tax shall be collected in the same manner as ordinary ad valorem taxes are collected and shall be subject to the same penalties and the same procedure and sale in cases of delinquency as provided for ad valorem taxes; provided, however, that the special tax may be collected by Community Facilities District No. 92-1 at a different time or, alternatively, at the discretion of the Council, CFD No. 92-1 may separately bill to and collect the special tax from each owner of record of taxable property within CFD No. 92-1. Section 5. 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 -4- 0 and circulated in the City of Santa Clarita, California (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 Council Members voting for and against the Ordinance. Section 6. This Ordinance relating to the levy of the special tax 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 acting as the legislative body of Community Facilities District No. 92-1 at a regular meeting held on the _ day of , 1992. Attest: CITY CLERK CITY OF SANTA CLARITA, CALIFORNIA �� -5- t. I HEREBY CERTIFY that the foregoing ordinance was duly adopted by the City Council of the City of Santa Clarita, California, at a regular meeting thereof, held on the day of 1992, by the following vote of the Council-. AYES: Councilmembers NOES: Councilmembers ABSENT: Councilmembers CITY CLERK (SEAL) I, DONNA GRINDEY, City. Clerk of the City of- Santa Clarita, California, DO HEREBY CERTIFY that the above and foregoing is a full, true and correct copy of Ordinance No. CFD 92-1-1, and that the same has not been amended or repealed. DATED: , 1992. - (SEAL) 9/146/014040-0001/055 City Clerk of the City of Santa-Clarita, California -6- and circulated in the City of Santa Clarita, California (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 Council Members voting for and against the Ordinance. Section 6. This Ordinance relating to the levy of the special tax 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 acting as the legislative body of Community Facilities District No. 92-1 at a regular meeting held on the _ day of , 1992. Attest: CITY CLERK CITY OF SANTA CLARITA, CALIFORNIA MAYOR -5- I HEREBY CERTIFY that the foregoing ordinance was duly adopted by the City Council of the City of Santa.Clarita, California, at a regular meeting thereof, held on the day of , 1992, by the following vote of .the Council: AYES: Councilmembers NOES: Councilmembers ABSENT: Councilmembers CITY CLERK (SEAL) I, DONNA GRINDEY, City Clerk of the City of Santa Clarita,California, DO ,HEREBY CERTIFY that the above and foregoing is. a full, true and correct copy of Ordinance No. CFD 92-1-1, and that the same has not been amended or repealed. DATED: (SEAL) 9/146/014040-0001/055 , 1992. City Clerk of the City of Santa Clarita, California