HomeMy WebLinkAbout19-08 TPFA Resolution RESOLUTION NO. TPFA 19-08
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
TEMECULA PUBLIC FINANCING AUTHORITY
AUTHORIZING THE LEVY OF A SPECIAL TAX IN
COMMUNITY FACILITIES DISTRICT NO. 03-02
(RORIPAUGH RANCH)
THE BOARD OF DIRECTORS OF THE TEMECULA PUBLIC FINANCING
AUTHORITY OF THE CITY OF TEMECULA DOES HEREBY RESOLVE AS FOLLOWS:
Section 1. The Temecula Public Financing Authority is the legislative body for
Community Facilities District No. 03-02(Roripaugh Ranch)(the"CFD"),created pursuant to the
Mello-Roos Community Facilities District Act of 1982, as amended (the "Act").
Section 2. The Board of Directors has enacted Ordinance No. TPFA 05-01 in
accordance with Government Code Section 53340 authorizing the levy of a special tax assessment
on the property located within the CFD.
Section 3. The Board of Directors has completed all steps necessary to levy a special
tax assessment in accordance with the procedures set forth in the Act.
Section 4. Pursuant to the provisions of Resolution No. TPFA 05-01 and
Ordinance No. TPFA 05-01, there is to be levied an aggregate special tax of$745,858.68 on the
taxable parcels located in the CFD for Fiscal Year 2019-20 to be provided by Webb Municipal
Finance, LLC,to the Auditor-Controller of the County.
Section 5. The Special Tax levy set forth above does not exceed the amount previously
authorized by Resolution No. TPFA 05-01 and Ordinance No. TPFA 05-01, and is not in excess
of that previously approved by the qualified electorate of the CFD.
Section 6. The proceeds of the Special Tax levy shall be used to pay, in whole
or in part,the costs of the following items:
A. Payment of principal and interest on the outstanding authorized bonded
indebtedness.
B. Replenishment of the required bond reserve funds, or other reserve funds, if
necessary.
C. Payment of the administrative costs and incidental expenses of the CFD, as
provided in Resolution No. TPFA 05-01 and the indenture of trust for the CFD and the Act.
The proceeds of the special tax levy shall be used as set forth above, and shall not be used for any
other purpose.
Section 7. The Auditor-Controller of the County is hereby directed to enter the
installment of the special tax for the exact rate and amount of the special tax levied in accordance
with this resolution for each lot or parcel of land affected in a space marked "CFD No. 03-02
(Roripaugh Ranch)"on the next County assessment roll on which taxes will become due.
Section 8. The County Auditor-Controller shall, at the close of the tax
collection period,promptly render to the CFD a detailed report showing the amounts of the special
tax installments, penalties, interest and fees collected, and from which properties they have been
collected. Any expenses to be paid to the Auditor-Controller for carrying out the foregoing
responsibilities shall be in accordance with a contract entered into between the CFD and the
Auditor,pursuant to Section 29304 of the Government Code.
Section 9. The Authority Secretary shall certify adoption of the resolution.
PASSED, APPROVED, AND ADOPTED by the Board of Directors of the Temecula
Public Financing Authority this 23`1 day of July,2019.
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Michael S gar, r
ATTEST:
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Randi . - , "ecretary
[SEAL]
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STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss
CITY OF TEMECULA )
I, Randi Johl, Secretary of the Temecula Public Financing Authority, do hereby certify that
the foregoing Resolution No.TPFA 19-08 was duly and regularly adopted by the Board of Directors
of the Temecula Public Financing Authority at a meeting thereof held on the 23`d day of July,2019,
by the following vote:
AYES: 4 BOARD MEMBERS: Edwards, Schwank, Stewart,Naggar
NOES: 0 BOARD MEMBERS: None
ABSTAIN: 0 BOARD MEMBERS: None
ABSENT: 1 BOARD MEMBERS: Rahn
Randi Johl, Secretary
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