HomeMy WebLinkAbout17-09 CC Resolution RESOLUTION NO. 17-09
' A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF TEMECULA MAKING FINDINGS WITH RESPECT TO
AND APPROVING THE ISSUANCE OF BONDS BY THE
TEMECULA PUBLIC FINANCING AUTHORITY
THE CITY COUNCIL OF THE CITY OF TEMECULA DOES HEREBY RESOLVE
AS FOLLOWS:
Section 1. The City of Temecula (the "City'), the Temecula Community Services
District and the Temecula Housing Authority are parties to a Joint Exercise of Powers
Agreement which established the Temecula Public Financing Authority (the "Authority")
for the purpose; among others, of issuing bonds to finance public capital improvements.
Section 2. The Board of Directors of the Authority has formed the Temecula
Public Financing Authority Community Facilities District No. 16-01 (Roripaugh Ranch
Phase 2) (the "CFD"), and the Authority intends to issue bonds of the Authority for the
CFD (the 'Bonds") to finance various public improvements within the City of Temecula
(the "Improvements").
Section 3. The City Council has on this date held a duly noticed public hearing
with respect to the financing of the Improvements with the proceeds of the Bonds, as
' required by Section 6586.5(a) of the California Government Code.
Section 4. The City Council hereby finds that significant public benefits will arise
from the financing of the Improvements with the proceeds of the Bonds, in accordance
with Section 6586 of the California Government Code.
Section 5. The City Council hereby approves the financing of the Improvements
with the proceeds of the Bonds, and the issuance of the Bonds by the Authority for the
CFD.
Section 6. This Resolution shall take effect upon adoption.
PASSED, APPROVED, AND ADOPTED by the City Council of the City of
Temecula this 24th day of January, 2017
Maryann Edwards, Mayor
ATTE
' Rani o , City Clerk
[SEAL]
Resos 17-09 1
STATE OF CALIFORNIA )
I COUNTY OF RIVERSIDE ) ss
CITY OF TEMECULA )
I, Randi Johl, City Clerk of the City of Temecula, do hereby certify that the
foregoing Resolution No. 17-09 was duly and regularly adopted by the City Council of the
City of Temecula at a meeting thereof held on the 24th day of January, 2017, by the
following vote:
AYES: 3 COUNCIL MEMBERS: Rahn, Stewart, Edwards
NOES: 0 COUNCIL MEMBERS: None
ABSTAIN: 0 COUNCIL MEMBERS: None
ABSENT: 2 COUNCIL MEMBERS: Comerchero, Naggar
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Randi Johl, City Clerk
I
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Resos 17-09 2