HomeMy WebLinkAbout03-18 TPFA ResolutionRESOLUTION NO. TPFA 03-18
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
TEMECULA PUBLIC FINANCING AUTHORITY MAKING
FINDINGS OF COMPLEXITY OF PROPOSED COMMUNITY
FACILITIES DISTRICT NO. 03-03 (WOLF CREEK)
WHEREAS, on July 22, 2003 this Board of Directors (the "Board") of the Temecula
Public Financing Authority (the "Authority") adopted a Resolution entitled '% Resolution of the
Board of Directors of the Temecula Public Financing Authority Declaring Its Intention to
Establish a Community Facilities District and to Authorize the Levy of Special Taxes Therein -
Wolf Creek 03-03," and a Resolution entitled "A Resolution of the Board of Directors of the
Temecula Public Financing Authority Declaring Its Intention to Incur Bonded Indebtedness of
the Proposed Temecula Public Financing Authority Community Facilities District No. 03-03
(Wolf Creek)" (collectively, the "Resolutions of Intention"), declaring its intention to form a
community facilities district to be known as the "Temecula Public Financing Authority
Community Facilities District No. 03-03 (Wolf Creek)" (the "District") under the provisions of the
Mello-Roos Community Facilities Act of 1982, constituting Section 53311 et seq. of the
California Government Code (the "Law"), and to incur bonded indebtedness of the District to
finance various public improvements; and
WHEREAS, the Resolutions of Intention called for public hearings to be held on the
formation of the District and the issuance of bonds of the Authority for the District on August 26,
2003; and
WHEREAS, notice of the public hearings was published more than seven days prior to
the scheduled date for the hearings as required by the Law, and the public hearings were
opened by this Board on August 26, 2003 and continued to September 23, 2003 to allow for
more time for the drafting and execution of a Joint Community Facilities Agreement (the
"JCFA") among the Riverside County Flood Control and Water Conservation District (the
"RCFCD"), the City of Temecula, the Authority and a property owner in the District; and
WHEREAS, the terms of the JCFA are still being negotiated among the parties
interested in the formation of the District, such that additional time is needed to complete the
JCFA; and
WHEREAS, Section 53325 of the Law requires that the public hearings be completed
within 30 days unless this Board finds that the complexity of the proposed District or the need
for public participation requires additional time, in which event the public hearings may be
continued from time to time for a period not to exceed six months, and this Board now desires
to make such findings.
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the Temecula
Public Financing Authority that the complexity of the proposed District requires additional time,
such that the public hearings called pursuant to the Resolutions of Intention may be continued
by this Board from time to time as it considers necessary in the circumstances, not to exceed
six months from August 26, 2003. The Board hereby continues the public hearings to October
28, 2003, at which time the Board will hold and conclude the public hearings or, if it determines
that a further continuance is appropriate in the circumstances, will continue the public hearings
to a date to be specified by the Board.
PASSED, APPROVED AND ADOPTED, by the Board of Directors of the Temecula
Public Financing Authority at a meeting held on the 23~ day of September, 2003.
ATTEST:
____'"~ ~.~ J~f~y E. Stone, Chairperson
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss
CITY OF TEMECULA )
I, Susan Jones, Secretary of the Temecula Public Financing Authority, HEREBY DO
CERTIFY that the foregoing Resolution No. TPFA 03-18 was duly adopted at a special meeting
of the Board of Directors of the Temecula Public Financing Authority on the 23ra day of
September, 2003, by the following vote:
AYES:
5 BOARDMEMBERS: Comerchero, Naggar, Pratt, Roberts, Stone
NOES:
0 BOARDMEMBERS: None
ABSENT: 0 BOARDMEMBERS: None
ABSTAIN: 0 BOARDMEMBERS: None
~'nes, C~C
Secretary
R:/TPFA Resos 2003/'rPFA 03-~ 2