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HomeMy WebLinkAbout1999-11-09 - RESOLUTIONS - SC BUSINESS PARK TAX LEVY CFD (2)RESOLUTION NO. c Fn 9-1-1 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA CLARITA, CALIFORNIA DETERMINING THE VALIDITY OF PRIOR PROCEEDINGS, ESTABLISHING COMMUNITY FACILITIES DISTRICT NO. 99-1, AUTHORIZING THE LEVY OF A SPECIAL TAX WITHIN COMMUNITY FACILITIES DISTRICT NO. 99-1, DETERMINING THE NECESSITY TO ISSUE SPECIAL TAX BONDS IN THE AMOUNT NOT TO EXCEED $33,000,000 AND ESTABLISHING AN APPROPRIATIONS LIMIT WHEREAS, the City Council (the "Council") of the City of Santa Clarita, California (the"City"), has heretofore adopted Resolution No. 99-164 (the "Resolution of Intention") stating its intention to form City of Santa Clarita Community Facilities District No. 99-1 (Santa Clarita Business Park) (the "CFD") and to designate certain areas as future annexation areas to the CFD (the "Future Annexation Area") pursuant to the Mello -Roos Community Facilities Act of 1982, as amended, (the "Act"); and WHEREAS, a copy of the Resolution of Intention, incorporating a description and map of the proposed boundaries of the CFD and the Future Annexation Area, and setting forth the facilities to be provided, the cost of providing such facilities and the rate and method of apportionment and manner of collection of the special tax to be levied within the CFD to pay for the facilities and other costs, including payment of the principal and interest on bonds proposed to be authorized within the CFD, is on file with the City Clerk and incorporated herein by reference; and WHEREAS, the Resolution of Intention set November 9, 1999 as the date of the public hearing on the formation of the CFD and the designation of the Future Annexation Area; and WHEREAS, the Council has heretofore adopted Resolution No. 99-165 (the "Resolution of Intention to Incur Bonded Indebtedness") stating its intention to incur bonded indebtedness in the amount not to exceed $33,000,000 for the financing, construction, or acquisition of the facilities to be secured by the levy of a special tax attributable to the CFD and when annexed the Future Annexation Area, and a copy of said resolution is on file with the City Clerk and incorporated herein by reference; and WHEREAS, the Resolution of Intention to Incur Bonded Indebtedness set November 9, 1999 as the date of the public hearing on the intention of the Board to incur bonded indebtedness; and WHEREAS, the notice of the consolidated public hearing was given as required by law; and RESOLUTION NO:TD 99-1-1 November 9, 1999 - Page 2 WHEREAS, on November 9, 1999, the Council conducted a consolidated noticed public hearing pursuant to the Act to determine (a) whether it should proceed with the establishment of the CFD and the designation of the Future Annexation Area, and whether to authorize the rate and method of apportionment of a special tax to be levied with the CFD and the Future Annexation Area (the "Special Tax"), to pay the principal and interest on the special tax bonds issued or proposed to be issued to finance all or a portion of the proposed facilities, to repay funds advanced to the CFD, the City or any third party, and to pay any incidental or administrative expenses of the CFD or the City as set forth in the Act or the Resolution of Intention, and (b) whether to issue bonds secured by the Special Tax for the purpose of financing the proposed facilities; and WHEREAS, prior to the commencement of the consolidated public hearing, there was filed with the Council an amended 'report containing the deletion of certain parcels within the boundaries of the CFD and the inclusion of such parcels as Future Annexation Area, a description of the improvements and facilities necessary and adequate to meet the needs of the CFD and the Future Annexation Area, and an estimate of the costs of such improvements, facilities and incidental expense to be financed by the CFD (the "Report"), and the Report has been reviewed by the Council and is incorporated herein and made a part of the record of the public hearing; and WHEREAS, at said hearing all persons not exempt from the Special Tax desiring to be heard on all matters -pertaining to the formation of the CFD, the designation of the Future Annexation Area and the incurrence of bonded indebtedness were heard and a full and fair hearing was held; and WHEREAS, at said hearing evidence was presented to the Council on said matters before it, and this Council at the conclusion of said hearing, is fully advised in the premises; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA CLARITA, ACTING AS THE LEGISLATIVE BODY OF THE CITY OF SANTA CLARITA COMMUNITY FACILITIES DISTRICT NO, 99-1 (SANTA CLARITA BUSINESS PARK), does resolve as follows: SECTION 1. Pursuant to Section 53325.1(b) of the Government Code, the Council finds and determines that the proceedings prior hereto were valid and in conformity with the requirements of the Act including, without limitation, the following: A. Filing of a petition by a landowner requesting institution of proceedings to establish the CFD. B. Adoption of a Resolution of Intention to establish the CFD. C. Adoption of a Resolution of Intention to Incur Bonded Indebtedness in an aggregate amount not to exceed $33,000,000. RESOLUTION NO. CFD 99-1-1 _ November 9, 1999 — Page 3 D. Publication and mailing of notice of public hearing on the establishment of the CFD and of the proposed debt issue. E. Filing of the Report on the proposed public facilities to be financed by the CFD as ordered by the Council. F. Conducting of a public hearing on the establishment of the CFD, the proposed public facilities, and the incurring of the proposed debt, at which time the Council considered the Report, took public comments on the Report. All interested persons or taxpayers not exempt from the Special Tax were permitted to protest orally or in writing against the establishment of the CFD or the furnishing of specified types of public facilities or services and were permitted to file written protests to the regularity or sufficiency of the proceedings, and any person interested, including persons owning property within the CFD, were permitted to, appear and present any matters material to the questions set forth in the Resolution of Intention to Incur Bonded Indebtedness. SECTION 2. Written protests, if any, against the formation of the CFD, the designation of the Future Annexation Area, or against the furnishing of specified services or facilities or the levying of a specified special tax within the CFD, have not been filed by landowners representing more than fifty percent (50%) or more of the area of nonexempt land proposed to be included in the CFD. There are no registered voters within the proposed CFD. SECTION 3. A Community Facilities District to be designated "City of Santa Clarita Community Facilities District No. 99-1 (Santa Clarita Business Park)" is hereby established pursuant to the Act. SECTION 4. The description and map of the boundaries of the CFD and the Future Annexation Area is on file in the City Clerk's office and has been recorded with the County Recorder for the County of Los Angeles on October 12. 1999 as Document No. 99-1931976. The description and boundaries of the CFD and the Future Annexation Area as amended in the Report is hereby incorporated herein by reference and for all purposes hereafter shall be the boundaries of the CFD and the Future Annexation Area. The Amended Map of the boundaries of the CFD and the Future Annexation Area as shown in the Report shall be recorded with the County Recorder for the County of Los Angeles. SECTION 5. The type of public facilities ("Facilities") proposed to be provided within the CFD and funded with the Special Tax include certain real and other tangible property with an estimated useful life of five years or longer, including public infrastructure facilities, which the City or the CFD is authorized by law to construct, own, or operate, within or without the CFD, which is necessary to meet increased demands placed upon the City as a result of development or rehabilitation occurring within the CFD. The Facilities include but are not limited to street and traffic, sidewalk, water, sewer and storm drain improvements and related costs and RESOLUTIONNO. CFD 99-1-1 November 9, 1999 - Page 4 incidental expenses. The Facilities are more fully described in Exhibit "A" attached to the Report on file with the City Clerk. SECTION 6. Except where funds are otherwise available, it is the intention of the Council, subject to the approval of the landowners as the eligible voters of the CFD, and the unanimous written consent of the owner or owners of parcels of the Future Annexation Area, to levy annually in accordance with procedures contained in the Act, a special tax sufficient to pay for the costs of financing all such Facilities, including the principal of and interest on the bonds proposed to be issued to finance such Facilities, and other periodic costs, and all other costs of the tax levy and bond issue. The rate and method of apportionment of the Special Tax within the CFD is described in detail in Exhibit "A" attached to the Report and incorporated herein by this reference. Such Exhibit "A" contains sufficient detail to allow each landowner or resident within the CFD and the Future Annexation Area to estimate the maximum amount that he or she will have to pay. The Special Tax is based upon the cost of making the Facilities available to each parcel in the CFD, the demand that each parcel will place on the Facilities and the benefit received by each parcel from the Facilities. The Council hereby determines the rate and method of apportionment to be reasonable. The Special Tax is apportioned to each parcel on the foregoing basis pursuant to Section 53325.3 of the Act and such Special Tax is not on or based upon the ownership of real property. In the event that a portion of the property within the CFD shall become for any reason exempt, wholly or partially, from the levy of the Special Tax, the Council shall, on behalf of the CFD, increase the levy to the extent necessary upon the remaining property within the CFD which is not delinquent or exempt in order to yield the required payments, subject to the maximum Special Tax. SECTION 7. Upon recordation of a notice of special tax lien pursuant to Section 3114.5 of the Streets and Highways Code, a continuing lien to secure each levy of the Special Tax shall attach to all nonexempt real property within the CFD, and upon receipt of unanimous consent, in the Future Annexation Area, and this lien shall continue in force and effect until the special tax obligation is prepaid or otherwise permanently satisfied and the lien canceled in accordance with law or until collection of the Special Tax by the CFD ceases. SECTION 8. The Council finds that the Facilities are necessary to meet the increased demand put upon the City as a result of the development within the CFD. SECTION 9. The Council finds that there is not an ad valorem property tax currently being levied on property within the proposed CFD for the exclusive purpose of paying principal of or interest on bonds or other indebtedness incurred to finance construction of capital facilities which provide the same services to the territory of the CFD as are proposed to be provided by the capital facilities to be financed and constructed by the CFD. RESOLUTIONNO. CFD 99-1-1. November 9, 1999 - Page 5 SECTION 10. An appropriation limit for the CFD is hereby established as an amount equal to maximum amount of bonded indebtedness authorized to be incurred for the CFD. SECTION 11. The proposed special tax to be levied in the CFD to pay for all the proposed facilities has not been precluded by protests by owners of one-half or more of the land in the territory included in the CFD pursuant to Government Code Section 53324. SECTION 12. The Council hereby declares and deems that the public convenience and necessity require that it is necessary to incur indebtedness for the issuance and sale of special tax bonds in a principal amount not to exceed $33,000,000 for the purpose of financing the Facilities. Except for property exempted from taxation as described in the Resolution of Intention, and the rate and method of apportionment, the whole of the property within the CFD, and when annexed, the Future Annexation Area, shall pay for the indebtedness pursuant to the levy of the Special Tax authorized by and consistent with the provisions of the Act. SECTION 13. The maximum term of the special tax bonds or any series thereof to be issued shall in no event exceed forty (40) years. The special tax bonds or any series thereof shall bear interest at a rate or rates not to exceed the greater of twelve percent (12%) per annum, payable semiannually, with the actual rate or rates and times of payment to be determined at the time or times of sale thereof; but in no event shall such rate exceed the maximum interest rate provided by law. SECTION 14. The Report is ordered to be kept on file with the minutes of these proceedings and open for public inspection. SECTION 15. The Office of the Director of Administrative Services, 23920 Valencia Boulevard, Santa Clarita, California 91355-2196, (661) 255-4925, or its designee, is designated to be responsible for preparing or causing to be prepared annually a current roll of special tax levy obligations by assessor's parcel number and for estimating future special tax levies pursuant to Section 53340.1 of the Government Code. SECTION 16. According to that certain Funding, Construction and Acquisition Agreement, dated August 1, 1999 (the "Funding Agreement"), approved by the Council on August 4, 1999 and recorded as Document No. 99-1519953 on August 12, 1999 with the Los Angeles County Recorder, deposits have been made to compensate the City and the CFD for a portion of the costs incurred by the City and the CFD in conducting formation proceedings and the issuance of special tax bonds (the "Proceedings Deposit"). Pursuant to Section 53314.9 of the Act, the Proceedings Deposit subject to the refund of any unused portion, shall be reimbursed to the depositors as provided in the Funding Agreement from the proceeds of special tax bonds issued. RESOLUTIONNO. CFD 99-1-1 November 9, 1999 - Page 6 SECTION 17. Pursuant to Section 53339.7(a) of the Act, the Council hereby provides for the annexation of the Future Annexation Area to the CFD upon the unanimous written approval of the owner or owners of each parcel or parcels within the Future Annexation Area at the time that the parcel or parcels are annexed, without additional hearings or further action from the Council. SECTION 18. The City Clerk is directed to certify and attest to this Resolution and to take any and all necessary acts to call, hold, canvass, and certify an election or elections on the incurring bonded indebtedness, the levy of the special tax, and the establishment of the appropriation limit. SECTION 19. This Resolution shall take effect immediately upon its adoption. PASSED, APPROVED AND ADOPTED this 9th day of Nov' , 1999. MAYOR ATTEST: CITY CLERK STATE OF CALIFORNIA ) COUNTY OF LOS ANGELES) ss CITY OF SANTA CLARITA ) I, Sharon L. Dawson, CMC, City Clerk of the City of Santa Clarita do hereby certify that the foregoing Resolution was duly adopted by the City of Santa Clarita at a regular meeting therefore, held on the qday of November , 1999 by the following vote of Council: AYES: COUNCILMEMBERS: Ferry, Klajic, Darcy NOES: COUNCILMEMBERS: Weste, Heidt ABSENT: COUNCILMEMBERS: None CITY CLERK wmcu\�o