HomeMy WebLinkAbout1999-09-28 - RESOLUTIONS - SC BUSINESS PK CFD 99-1 (2)RESOLUTION NO. 99-165
RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF SANTA CLARITA
DECLARING ITS INTENTION TO INCUR
BONDED INDEBTEDNESS IN THE AMOUNT OF
NOT TO EXCEED $33,000,000 WITHIN PROPOSED
COMMUNITY FACILITIES DISTRICT NO. 99-1
(SANTA CLARITA BUSINESS PARK)
WHEREAS, the City Council (the "Council") of the City of Santa Clarita, California (the
"City") has heretofore adopted Resolution No.99-164 after receiving a petition from a
landowner to institute proceedings to form a community facilities district within the
boundaries of the City pursuant to the Mello -Roos Community Facilities Act of 1982, as
amended, (the "Act"), stating the Council's intention to form Community Facilities District
No. 99-1 (Santa Clarita Business Park) (the "CFD") and to designate area for future
annexation to the CFD (the "Future Annexation Area"), pursuant to the Act, for the
purpose of financing and acquiring certain real and other tangible property with an
estimated useful life of five years or longer, including public infrastructure facilities, which
the City, the CFD, or other public agencies are authorized by law to construct, own, or
operate, which are necessary to meet increased demands placed upon the City as a result of
development or rehabilitation occurring within proposed CFD and the Future Annexation
Area (the "Facilities"); and
WHEREAS, the Council estimates that the cost of the Facilities is approximately
$25,000,000; plus costs of financing said Facilities; and
WHEREAS, in order to finance the Facilities, it is necessary to incur bonded indebtedness
in the amount of not to exceed $33,000,000, the repayment of which is to be secured by
special taxes levied in accordance with Section 53340 et seq. of the Act on all property
within the CFD and when annexed the Future Annexation Area, other than certain land
designated exempt by the proposed rate and method of apportionment described herein;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA CLARITA does
resolve as follows:
Section 1: The above recitals are true and correct.
Section 2: It is necessary to incur bonded indebtedness within of the proposed CFD in the
amount of not to exceed $33,000,000 to finance the costs of the Facilities for the CFD.
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RESOLUTION NO.
Page 2
Section 3: The indebtedness will be incurred for the purpose of financing the costs of
designing, constructing, and acquiring the Facilities, the acquisition of necessary
equipment and property therefore, and fulfilling contractual commitments and carrying
out the powers and purposes of the CFD, including, but not limited to, the financing of the
costs associated with the issuance of the bonds and all other costs necessary to finance the
Facilities which are permitted to be financed pursuant to the Act.
Section 4: The whole of the CFD, including annexations, if any, shall pay for the bonded
indebtedness.
Section 5: It is the intent of the Council to authorize the sale of bonds in one or more
series, in the maximum aggregate principal amount of not to exceed $33,000,000 at a
maximum interest rate not in excess of 12 percent per annum or such rate not in excess of
the maximum rate permitted by law at the time the bonds are issued. The term of the
bonds shall be determined pursuant to a resolution of the Council authorizing the issuance
of the bonds, but such term shall in no event exceed 40 years or such longer term as is then
permitted by law.
Section 6: A public hearing (the "Hearing") on the proposed debt issue shall be held on
November 9, 1999, at 7:00 p.m., or as soon thereafter as practicable, at the Chambers of
the City Council of the City of Santa Clarita, 23920 Valencia Boulevard, Santa Clarita,
California 91355-2196.
Section 7: At the Hearing at the time and place set forth above, any interested persons,
including all persons owning land or registered to vote within the proposed CFD, may
appear and be heard at the Hearing.
Section 8: The proposition to incur bonded indebtedness in the maximum principal
aggregate amount of not to exceed $33,000,000 shall be submitted to the qualified electors
of the CFD. A special community facilities district election shall be conducted on
November 9, 1999. The special election shall be conducted by mail ballot. The mailed
ballots shall be returned.to the office of the election officer no later than 5:00 p.m. on
November 9, 1999.
Section 9: The City Clerk is hereby directed to publish a copy or summary of this
resolution, which shall serve as notice ("Notice") of the Hearing and the special bond
election, pursuant to Section 6061 of the Government Code in a newspaper of general
circulation in the proposed CFD.
Section 10: The City Clerk is hereby directed to send a copy of the Notice of the Hearing by
first-class mail, postage prepaid, to each registered voter and to each landowner within the
proposed CFD as shown on the last equalized assessment roll.
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RESOLUTION NO.
Page 3
Section 11: This Resolution shall take effect immediately upon its adoption.
PASSED, APPROVED, AND ADOPTED this 2A day of September , 1999.
4YOR
M460M
CITY CLERK
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES
CITY OF SANTA CLARITA)
I, Sharon L. Dawson, City Clerk of the City of Santa Clarita, do hereby certify that the
foregoing Resolution was duly adopted by the City Council of the City of the Santa Clarita
at a regular meeting thereof, held on the 2$_ day of September 1999, by the
following vote:
AYES: COUNCILMEMBERS:
NOES: COUNCILMEMBERS:
ABSENT: COUNCILMEMBERS.
-34 -
CITY CLERK
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