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HomeMy WebLinkAbout2001-04-26 - RESOLUTIONS - MODIFICATIONS TO CFD 99-1 (2)RESOLUTION NO. CFD 99.1.9 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA CLARITA, CALIFORNIA ACTING AS THE LEGISLATIVE BODY OF THE CITY OF SANTA CLARITA COMMUNITY FACILITIES DISTRICT NO. 99-1, 4IDERING CERTAIN CHANGES AND MODIFICATIONS TO CFD NO. 99-1 AND CALLING A PUBLIC HEARING THEREON WHEREAS, on September 28, 1999, the City Council (the "Council") of the City of Santa Clarita, California (the "City") adopted Resolution No.99-164, stating its intention to form the City of Santa Clarita Community Facilities District No. 99-1 (the "District'), pursuant to the Mello -Roos Community Facilities Act of 1982, as amended, (the "Act"); and WHEREAS, on September 28, 1999, the Council adopted Resolution No. 99-166, stating its intention and the necessity to incur bonded indebtedness in the aggregate amount not to exceed $33,000,000, to be issued by the District for the purpose of financing the purchase, construction, expansion, or rehabilitation of certain real and other tangible property with r an estimated useful life of five years or longer, including public infrastructure facilities which the City or the District is 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 the District (the "Facilities'), to serve the area within the District; and WHEREAS, notice was published as required by law relative to the intention of the Council to form the District and to incur bonded indebtedness in the amount not to exceed $33,000,000 within the boundaries of the District; and WHEREAS, on November 9, 1999, this Council held a noticed public hearing as required by law relative to the determination to proceed with the formation of the District, the rate and method of apportionment and manner of collection of the special tax to be levied within the District to pay the principal and interest on the proposed bonded indebtedness of the District 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 the District and the incurring of bonded indebtedness by the District were heard, and a full and fair hearing was held; and WHEREAS, on November 9, 1999, the Council established the District, amended the boundary of the District, designated certain property for future annexation to the District, and authorized the levy of a special tax within the District; and Page 2 WHEREAS, on November 9, 1999, an election was held within the District in which the eligible electors approved by more than two-thirds vote the proposition of incurring bonded indebtedness, levying a special tax, and setting an appropriations limit for the District; and WHEREAS, the Council received _a consent to annex certain of the designated future annexation area ("Annexation No. 1") into the District and, on January 25, 2000, the Council annexed intends to accept such consent and annex such property into the District; and WHEREAS, the Council has also received a petition from the sole owner of all property within the District requesting the institution of proceedings for change of the scope of the facilities, modification of the rate, and method of apportionment of the special taxes and a reduction in the authorized amount of bonded indebtedness; and WHEREAS, on January 25, 2000, the Council adopted Resolution No. CFD 99-1-4, declaring its intention to consider certain modifications to the District, namely the prioritization of certain authorized facilities, the amendment to the rate and method of apportionment, and the reduction of the authorization of the indebtedness to be issued by the District from a maximum aggregate principal amount of $33,000,000 to $18,000,000; and — WHEREAS, on April 25, 2000, the Council held a public hearing on the proposed modifications to the District and called a special election regarding such proposed modifications; and WHEREAS, on April 25, 2000, an election was held within the District on the proposition of the proposed modifications; and WHEREAS, on April 25, 2000, the Council adopted Resolution No. CFD 99-1-7 authorizing changes to the District and approving an amended CFD report; and WHEREAS, recently the Council has received a petition (the "Petition'), from the owners of all property within the District, requesting the institution of proceedings for the elimination of certain properties, the substitution of the authorized facilities which the District may own, operate, or contribute revenue to, the modification of the rate and method of apportionment of the special taxes, and the elimination of the authorization of bonded indebtedness for the District; and WHEREAS, on April 26, 2001, the City and the District approved an Amended and Restated Funding, Construction, and Acquisition Agreement (the "Amended Agreement") with Spirit Properties Ltd. (the "Owner') in which the Council agreed to commence proceedings to effectuate the above referenced modifications; and _ Page 3 WHEREAS, the Council has determined that the Petition complies with the requirements of Government Code Section 53332 and, pursuant to the Amended Agreement and the Act, now intends to adopt this resolution of consideration regarding the changes described herein; and WHEREAS, the owners of the land within the boundaries of the District desire the District to proceed with the proposed changes to the District; 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, does resolve as follows: SECTION 1. The District hereby determines to institute proceedings for the elimination of certain properties, the substitution of the authorized facilities which the District may own, operate, or contribute revenue to, the modification of the rate and method of apportionment of the special taxes, and the elimination of the authorization of bonded indebtedness for the District, pursuant to and under the terms of the Act. An amended and restated CFD Report (the "Amended CFD Report") has been presented to the District listing such changes, and such Amended CFD Report is on file with the City Clerk. SECTION 2. The list of the Facilities to be financed by the District shall be amended to include public infrastructure facilities, with an estimated useful life of five (5) years or more which the City or a public agency is authorized by law to contribute revenue to or to construct, own, or operate (the 'Amended Facilities") and as are more particularly described on Exhibit "A" attached to the Amended CFD Report and incorporated herein by reference. The description of the Amended Facilities shown on Exhibit "A" to the Amended CFD Report is general in nature. The final nature and location of the Amended Facilities will be determined upon the preparation of final plans and specifications, which may show substitutes in lieu of, or modifications to, the proposed work. Any such substitution shall not be deemed a change or modification of the Amended Facilities, so long as the substitution provides a service substantially similar to the Amended Facilities shown on Exhibit "A" to the Amended CFD Report. SECTION 3. Due to the substitution of the authorized facilities and the elimination of certain parcels within the District, the schedule of the rate and method of apportionment is proposed to be amended, as described in Exhibit "B," to the Amended CFD Report, and by this reference, incorporated herein (the "Amended Rate and Method"). The amended special tax (the "Amended Special Tax") is based upon the cost of financing the Amended Facilities in the District, the demand that each parcel will place on the Amended Facilities, and the general benefit received by each parcel from the Amended Facilities as determined by the Council and as permitted by Sections 53325.3 and 53339.3 of the Act. Exhibit "B" to the Amended CFD Report provides sufficient detail to allow each landowner or resident within the District to estimate the maximum amount that such person will have to pay for the Amended Facilities. It is proposed that the special taxes be due at time of pulling of a building permit for an affected parcel, as provided in the Amended CFD Report. Page 4 The Amended Special Tax is apportioned to each parcel on the foregoing basis, pursuant to Section 53325.3 of the Act, and such Amended Special Tax is not on or based upon the ownership of real property. Since bonds of the District have yet to be issued, and it is proposed that bonds not be authorized for the District, the District hereby finds that the proposed Amended Rate and Method will not interfere with the timely repayment of debt. SECTION 4. Due to the changes to the rate and method of apportionment, it is the intent of the District to eliminate the authorized indebtedness of the District. SECTION 5. A public hearing (the "Hearing") on the proposed changes to the District shall be held on June 12, 2001 at 6:00 o'clock p.m., or as soon thereafter as practicable, at the Council Chambers of the City of Santa Clarita, 23920 Valencia Boulevard, Santa Clarita, California 91355-2196. At the time and place set forth above for the hearing, any interested person, including all persons owning lands or registered to vote within the District, may appear and be heard. Any protests may be made orally or in writing, except that any protests pertaining to the regularity or sufficiency of such proceedings shall be in writing and shall clearly set forth the irregularities and defects to which the objection is made. All written protests shall be filed with the City Clerk on or before the time fixed for such public hearing, and any written protest may be withdrawn in writing at any time before the conclusion of such public hearing. If written protests against the changes to the District are filed by (a) fifty percent (50%) or more of the registered voters, or six (6) registered voters, whichever is greater, residing with the District, or (b) the owners of one-half (1z) or more of the area of land to be included within the District, the proceedings shall be abandoned. If said majority protest is limited to certain types of Amended Facilities or certain provisions of the Amended Special Tax, those facilities or those provisions of the tax must be eliminated by the Council. The City Clerk is hereby directed to publish a notice ("Notice") of the Hearing, pursuant to Section 6061 of the Government Code in a newspaper of general circulation published in the area of the District. Such Notice shall contain the text or a summary of this Resolution, state the time and place of the Hearing, a statement that the testimony of all interested persons or taxpayers will be heard, a description of the protest rights of the registered voters and landowners in the District, as provided in Section 53339.5 of the Act, and a description of the proposed voting procedure for the election required by the Act. Such publication shall be completed at least seven (7) days prior to the date of the Hearing. SECTION 6. The voting procedure with respect to the proposed changes to the District shall be by mailed ballot election. SECTION 7. This Resolution shall take effect from and after the date of its passage and adoption. Page 5 PASSED, APPROVED AND ADOPTED this 26'" day of April, 2001. ATTEST: STATE OF CALIFORNIA ) ) COUNTY OF LOS ANGELES) as r CITY OF SANTA CLARITA ) i i 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 Santa Clarita, acting on behalf of itself and as the Legislative Body of the City of Santa Clarita Community Facilities District No. 99-1, at a regular meeting thereof, held on the 26' day of April, 2001 by the following vote of the Council: AYES: COUNCILMEMBERS: Darcy, Kellar, Ferry, Waste NOES: COUNCILMEMBERS: None ABSENT: COUNCILMEMBERS: Smyth CITY CLERK m cMrnAmwd2m.dw