HomeMy WebLinkAbout032503 TPFA Minutes MINUTES OF A REGULAR MEETING
OF THE TEMECULA PUBLIC FINANCING AUTHORITY
MARCH 25, 2003
A regular meeting of the City of Temecula Public Financing Authority was called to order at
7:50 P.M., in the City Council Chambers, 43200 Business Park Drive, Temecula.
ROLL CALL
PRESENT: 5 AGENCY MEMBERS: Comerchero, Pratt, Naggar, Roberts,
and Stone
ABSENT: 0 AGENCY MEMBER: None
Also present were Executive Director Nelson. City Attorney Thorson, and City Clerk Jones.
PUBLIC COMMENTS
No input.
CONSENT CALENDAR
1 Minutes
RECOMMENDATION:
1.1 Approve the minutes of March 18, 2003.
MOTION: Agency Member Comerchero moved to approve Consent Calendar Item No. 1. The
motion was seconded by Agency Member Naggar and voice vote reflected unanimous approval.
CONSENT CALENDAR
1 Minutes
RECOMMENDATION:
1.2 Approve the minutes of March 18, 2003.
RECONVENE THE CITY COUNCIL MEETING
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JOINT CITY COUNCIL/'rEMECULA PUBLIC FINANCING AUTHORITY PUBLIC HEARING
Formation of Temecula Public Financinq Authority Community Facilities District No. 03-1
(Crowne Hill}
RECOMMENDATION:
2.1
Hold a public hearing regarding the proposed bond financing by the Temecula Public
Financing Authority Community Facilities District No. 03-1 (Crowne Hill) of various
public improvements and as necessary to eliminate a special assessment lien.
2.2 That the City Council adopt a resolution entitled:
RESOLUTION NO. 03-34
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
2.3 That the City Council adopt a resolution entitled:
RESOLUTION NO. 03-35
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
TEMECULA APPROVING JOINT COMMUNITY FACILITIES
AGREEMENT RELATING TO THE FINANCING OF PUBLIC
IMPROVEMENTS AND IMPLEMENTATION OF ACQUISITION
AGREEMENT
2.4
That the Public Financing Authority hold public hearings regarding the formation
of the proposed Temecula Public Financing Authority Community Facilities
District No. 03-01 (Crowne Hill) (the "CFD"), the levy of special taxes in the CFD,
and the issuance of bonds by the Public Financing Authority for the CFD.
2.5 That the Temecula Public Financing Authority adopt a resolution entitled:
RESOLUTION NO. TPFA 03-05
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
TEMECULA PUBLIC FINANCING AUTHORITY OF
FORMATION OF TEMECULA PUBLIC FINANCING
AUTHORITY COMMUNITY FACILITIES DISTRICT NO 03-1
(CROWNE HILL), AUTHORIZING THE LEVY OF A SPECIAL
TAX WITHIN THE DISTRICT, PRELIMINARILY ESTABLISHING
AN APPROPRIATIONS LIMIT FOR THE DISTRICT AND
SUBMITrlNG LEVY OF THE SPECIAL TAX AND THE
ESTABLISHMENT OF THE APPROPRIATIONS LIMIT TO THE
QUALIFIED ELECTORS OF THE DISTRICT
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2.6
2.7
That the Temecula Public Financing Authority adopt a resolution entitled:
RESOLUTION NO. TPFA 03-06
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
TEMECULA PUBLIC FINANCING AUTHORITY DETERMINING
THE NECESSITY TO INCUR BONDED INDEBTEDNESS
WITHIN TEMECULA PUBLIC FINANCING AUTHORITY
COMMUNITY FACILITIES DISTRICT NO. 03-1 (CROWNE HILL)
AND SUBMII'rlNG PROPOSITION TO THE QUALIFIED
ELECTORS OF THE DISTRICT
That the Temecula Public Financing Authority adopt a resolution entitled:
RESOLUTION NO. TPFA 03-07
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
TEMECULA PUBLIC FINANCING AUTHORITY CALLING
SPECIAL ELECTION WITHIN COMMUNITY FACILITIES
DISTRICT NO. 03-1 (CROWNE HILL)
2.8
That the Temecula Public Financing Authority hold an election regarding the
CFD, and adopt a resolution entitled:
RESOLUTION NO. TPFA 03-08
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
TEMECULA PUBLIC FINANCING AUTHORITY DECLARING
RESULTS OF SPECIAL ELECTION AND DIRECTING
RECORDING OF NOTICE OF SPECIAL TAX LIEN
2.9
That the Public Financing Authority introduce and read by title only an ordinance
entitled:
ORDINANCE NO. TPFA 03-01
AN ORDINANCE OF THE TEMECULA PUBLIC FINANCING
AUTHORITY LEVYING SPECIAL TAXES WITHIN TEMECULA
PUBLIC FINANCING AUTHORITY COMMUNITY FACILITIES
DISTRICT NO. 03-1 (CROWNE HILL)
Bond Counsel Thimmig of Quint & Thimming highlighted the necessary proceedings to proceed
with the formation of the Temecula Public Financing Authority Community Facilities District No. 03-1
(Crowne Hill), noting that the special tax lien will only apply to those individuals in Crowne Hill and
that currently there are no homeowners in the area of discussion.
At this time, Mayor Stone opened the public hearing. There being no public input, the public
hearing was closed.
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MOTION: Mayor Pro Tem Naggar moved to approve the staff recommendation 2.2. The motion
was seconded bY Councilman Comerchero and voice vote reflected unanimous approval.
MOTION: Mayor Pro Tem Naggar moved to approve the staff recommendation 2.3. The
motion was seconded by Councilman Comerchero and voice vote reflected unanimous
approval.
At 7:56 P.M., Mayor Stone called a short recess in order for the City Manager/Executive
Director Nelson to execute the Joint Communities Facilities Agreement. The City
Council/Temecula Public Financing Authority reconvened at 7:57 P.M.
At this time, Chairman Stone opened the public hearing. There being no public input, the public
hearing was closed. It was noted that there were no written protests filed.
MOTION: Agency Member Roberts moved to approve the staff recommendation 2.5. The
motion was seconded by Agency Member Naggar and voice vote reflected unanimous approval.
MOTION: Agency Member Naggar moved to approve the staff recommendation 2.6. The
motion was seconded by Agency Member Comerchero and voice vote reflected unanimous
approval.
MOTION: Agency Member Comerchero moved to approve the staff recommendation 2.7. The
motion was seconded by Agency Member Naggar and voice vote reflected unanimous approval.
At this time, City Clerk Jones opened the ballots and announced the results of the election as
follows: KB Homes - total possible votes 41 - all 41 yes votes; PCC No. 3 (Crowne Hilt) - total
possible votes 121 - all 121 yes votes; and Len I, Inc. - total possible votes 102 - all 102 yes
votes with a total of 264 votes all of which were in support. City Clerk Jones completed the
canvass and statement for the result of election.
MOTION: Agency Member Naggar moved to approve the staff recommendation 2.8. The
motion was seconded by Agency Member Comerchero and voice vote reflected unanimous
approval.
MOTION: Agency Member Naggar moved to approve the staff recommendation 2.9. The
motion was seconded by Agency Member Roberts and voice vote reflected unanimous
approval.
EXECUTIVE DIRECTOR'S REPORT
No comment.
BOARD OF DIRECTORS' REPORTS
A. Agency Member Pratt relayed his support of the formation of the Communities Faculties
District and its associated funding availabilities.
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ADJOURNMENT
At 8:02 P.M., the Temecula Public Financing Authority meeting was formally adjourned.
ATTEST:
Susan VVJ. Jon~'s, CMC /
'~ffrey E. Stone, Chairman
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