HomeMy WebLinkAbout2002-10-22 - AGENDA REPORTS - CFD VALENCIA TOWN CENTER (2)CITY OF SANTA CLARITA
AGENDA REPORT
CONSENT CALENDAR
DATE: October 22, 2002
City Manager Approval:
Item to be presented by:
SUBJECT: SECOND READING AND ADOPTION OF ORDINANCE AND
RESOLUTION PERTAINING TO COMMUNITY FACILITIES
DISTRICT 2002-1 (VALENCIA TOWN CENTER)
DEPARTMENT: Administrative Services
RECOMMENDED ACTION
I. City Council adopt an ordinance, entitled Ordinance 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. 2002-1 (Valencia Town Center), authorizing the levy
of a special tax.
2. Adopt the City of Santa Clarita Communities Facilities District 2002-1 (Valencia Town
Center) Resolution, authorizing the investment of bond proceeds in the Local Agency
Investment Fund.
BACKGROUND
On October 8, 2002, the City Council conducted a first reading and passed to a second
reading an ordinance levying a special tax within Community Facilities District 2002-1.
The special tax within the district is levied within the CFD to pay the principal and interest
on the proposed bonded indebtedness of the CFD and relative to the necessity for
authorizing the bonds.
The City of Santa Clarita Community Facilities District 2002-1 (Valencia Town Center) is
required to maintain a Reserve Fund for the life of the bond issue. The District would like
to invest the bond proceeds in an interest-bearing account. The trustee or fiscal agent of
the District will be authorized to order the deposit or withdrawal of the proceeds.
ALTERNATIVE ACTION
Other action as determined by the City Council.
Agenda Item :_
CFD 2002-1 (VALENCIA TOWN CENTER)
October 22, 2002 — Page 2
FISCAL IMPACT
There are no fiscal impacts associated with this action.
ATTACHMENTS
Ordinance
Resolution
TSB:hds
council\cfdordr u
PUBLIC NOTICE
NOTICE IS HEREBY GIVEN that on October 22, 2002, the City Council of the City of Santa
Clarita adopted Ordinance No. CFD 02-1-1 entitled:
AN ORDINANCE 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. 2002-1 (VALENCIA TOWN
CENTER), AUTHORIZING THE LEVY OF A SPECIAL TAX
by the following vote:
AYES:
McLean, Kellar, Smyth, Weste, Ferry
NOES:
None
ABSENT:
None
A certified copy of the complete text of the ordinance is posted and may be read in the City
Clerk's Office, 23920 Valencia Boulevard, Suite 304, Santa Clarita, and/or a copy may be
obtained from that office.
Dated this 23rd day of October, 2002.
Sharon L. Dawson, CMC, City Clerk
City of Santa Clarita
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss.
CITY OF SANTA CLARITA )
Sharon L. Dawson, CMC, being first duly sworn, deposes and says that she is the duly
appointed and qualified City Clerk of the City of Santa Clarita and that by Thursday,
October 24, 2002, she caused a certified copy of the subject ordinance to be posted and made
available for public review in the City Clerk's office and a copy of the ordinance summary to be
published as required by law.
A- 4 Yom'
Sharon L. Dawson, CMC, City Clerk
City of Santa Clarita