Loading...
HomeMy WebLinkAbout03-22 TPFA ResolutionRESOLUTION NO. TPFA 03-22 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE TEMECULA PUBLIC FINANCING AUTHORITY OF FORMATION OF TEMECULA PUBLIC FINANCING AUTHORITY COMMUNITY FACILITIES DISTRICT NO. 03-03 (WOLF CREEK), AUTHORIZING THE LEVY OF A SPECIAL TAX WITHIN THE DISTRICT, PRELIMINARILY ESTABLISHING AN APPROPRIATIONS LIMIT FOR THE DISTRICT AND SUBMITTING LEVY OF THE SPECIAL TAX AND THE ESTABLISHMENT OF THE APPROPRIATIONS LIMIT TO THE QUALIFIED ELECTORS OF THE DISTRICT WHEREAS, on July 22, 2003, this Board of Directors adopted a resolution entitled "A 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" (the "Resolution of Intention") stating its intention to form the Temecula Public Financing Authority Community Facilities District No. 03-03 (Wolf Creek) (the "District") pursuant to the Mello-Roos Community Facilities Act of 1982, California Government Code Section 53311 et seq. (the "Law"); and WHEREAS, the Resolution of Intention, incorporating by reference a map of the proposed boundaries of the District and describing the public improvements eligible to be financed by the District (the "Facilities"), the maintenance services eligible to be funded by the District (the "Services") and the fixed special assessment lien to be eliminated by the District (the "Prior Lien"), the cost of financing the costs of the Facilities, of providing the annual Services and of eliminating the Prior Lien, and the rate and method of apportionment of the special tax to be levied within the District to pay the cost of financing the costs of the Facilities, of providing the annual Services and of eliminating the Prior Lien, and to pay the principal and interest on bonds proposed to be issued with respect to the District, is on file with the Secretary and the provisions thereof are incorporated herein by this reference as if fully set forth herein; and WHEREAS, the Resolution of Intention called for a public hearing on the District to be held on August 26, 2003 and on such date this Board of Directors opened the public hearing and continued the public hearing to September 23, 2003; and WHEREAS, on September 23, 2003, this Board of Directors adopted a Resolution making findings with respect to the complexity of the proposed District, and continued the public hearings from September 23, 2003 to October 28, 2003; and WHEREAS, on this date, this Board of Directors held the continued public hearing as required by the Law and the Resolution of Intention relative to the proposed formation of the District; and WHEREAS, at the hearing all interested persons desiring to be heard on all matters pertaining to the formation of the District, the Facilities and Services eligible to be funded by the District, the Prior Lien eligible to be eliminated by the District, and the levy of the special tax were heard and a full and fair hearing was held; and R:/TPFA Resos 2003/'rPFA 03-22 1 WHEREAS, at the hearing evidence was presented to this Board of Directors on the matters before it, including a report by the Director of Public Works of the City of Temecuia (the "Report") as to the Facilities and Services eligible to be funded by the District, the Prior Lien eligible to be eliminated by the District, and the costs thereof, a copy of which is on file with the Secretary, and this Board of Directors at the conclusion of the hearing was fully advised regarding the District; and WHEREAS, written protests with respect to the formation of the Distdct and/or the furnishing of specified types of Facilities or Services or other specific purposes of the District as described in the Report have not been filed with the Secretary by fifty percent (50%) or more of the registered voters residing within the territory of the District or property owners of one-half (1/2) or more of the area of land within the District and not exempt from the special tax; and WHEREAS, the special tax proposed to be levied in the District to pay for a portion of the costs of the Facilities and to pay for the costs of the annual Services and of the elimination of the Prior Lien, as set forth in Exhibit B to the Resolution of Intention, has not been eliminated by protest by fifty percent (50%) or more of the registered voters residing within the territory of the District or the owners of one-half (1/2) or more of the area of land within the District and not exempt from the special tax. NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the Temecula Public Financing Authority as follows: Section 1. The foregoing recitals are true and correct. Section 2. The proposed special tax to be levied within the District has not been precluded by majority protest pursuant to Section 53324 of the Law. On April 10, 2001, this Board of Directors adopted a resolution approving Local Goals and Policies for Community Facilities Districts, and this Board of Directors hereby finds and determines that the District is in conformity with said goals and policies. Section 3. All prior proceedings taken by this Board of Directors in connection with the establishment of the District and the levy of the special tax have been duly considered and are hereby found and determined to be valid and in conformity with the Law. Section 4. The community facilities district designated "Temecula Public Financing Authority Community Facilities District No. 03-03 (VVolf Creek)" is hereby established pursuant to the Law. Section 5. The boundaries of the District, as described in the Resolution of Intention and set forth in the boundary map of the District recorded on August 4, 2003 in the Riverside County Recorder's Office at Book 53 of Maps of Assessment and Community Facilities Districts at Page 59 (instrument no. 2003-589025), are hereby approved, are incorporated herein by this reference and shall be the boundaries of the District. Section 6. The type of facilities and services eligible to be funded by the District pursuant to the Law, and the fixed special assessment lien eligible to be eliminated by the District pursuant to the Law, are as described in Exhibit A to the Resolution of Intention which Exhibit is by this reference incorporated herein. This Board of Directors hereby finds that the Facilities are necessary to meet increased demands placed upon local agencies as the result of R:/TPFAResos2003/'rPFA 03-22 2 development occurring in the District, and that the Services will be in addition to any services currently provided within the area of the District. The execution and delivery by the Executive Director or the Chairperson, as applicable, of (a) a Joint Community Facilities Agreement between the Authority and the City of Temecula (the "City"), (b) a Joint Community Facilities Agreement between the Authority and the Temecula Community Services District, (c) a Joint Community Facilities District - EMWD among the Authority, the Eastern Municipal Water District and Wolf Creek Development, LLC, and (d) a Joint Community Facilities Agreement among the Authority, the City, Wolf Creek Development, LLC and the Riverside County Flood Control and Water Conservation District, in the respective forms on file with the Secretary, are hereby ratified. This Board of Directors hereby declares that said Joint Community Facilities Agreements will be beneficial to residents in the area of the District. Section 7. Except to the extent that funds are otherwise available to the District to pay for the Facilities, the Services, and the elimination of the Prior Lien and/or to pay the principal and interest as it becomes due on bonds of the District issued to finance the Facilities, the Services and the elimination of the Prior Lien, a special tax sufficient to pay the costs thereof, secured by recordation of a continuing lien against all non-exempt real property in the District, will be levied within the District and collected in the same manner as ordinary ad valorem property taxes or in such other manner as this Board of Directors shall determine, including direct billing of the affected property owners. The proposed rate and method of apportionment of the special tax among the parcels of real property within the District, in sufficient detail to allow each landowner within the proposed District to estimate the maximum amount such owner will have to pay, are described in Exhibit B to the Resolution of Intention which Exhibit is by this reference incorporated herein. This Board of Directors hereby finds that the basis for the levy and apportionment of the special tax, as set forth in the Rate and Method, is reasonable. Section 8. The Treasurer of the Temecula Public Financing Authority, 43200 Business Park Drive, Temecula, CA 92590, telephone number (909) 694-6430, is the officer of the Authority that will be responsible for preparing annually and whenever otherwise necessary a current roll of special tax levy obligations by assessor's parcel number and which will be responsible for estimating future special tax levies pursuant to Section 53340.2 of the Law. Section 9. Upon recordation of a notice of special tax lien pursuant to Section 3114.5 of the California Streets and Highways Code, a continuing lien to secure each levy of the special tax shall attach to all nonexempt real property in the District and this lien shall continue in force and effect until the special tax obligation is prepaid and permanently satisfied and the lien canceled in accordance with law or until collection of the tax by the Authority ceases. Section 10. In accordance with Section 53325.7 of the California Government Code, the appropriations limit, as defined by subdivision (h) of Section 8 of Article XIIIB of the California Constitution, of the District is hereby preliminarily established at $33,000,000 and said appropriations limit shall be submitted to the voters of the District as provided below. The proposition establishing the appropriations limit shall become effective if approved by the qualified electors voting thereon and shall be adjusted in accordance with the applicable provisions of Section 53325.7 of the Law. Section 11. Pursuant to the provisions of the Law, the proposition of the levy of the special tax and the proposition of the establishment of the appropriations limit specified above shall be submitted to the qualified electors of the District at an election, the time, place and R:?rPFA Resos 2003/TPFA 03-22 3 conditions of which election shall be as specified by a separate resolution of this Board of Directors. Section 12. This Resolution shall take effect upon its adoption. PASSED, APPROVED AND ADOPTED, by the Board of Directors of the Temecula Public Financing Authority at a meeting held on the 28th day of October, 2003. ATTEST: ority.~etary ~ ~/~) '~effr"e~ El Stone, Chairperson STATE OF CALIFORNIA ) COUNTYOF RIVERSIDE ) ss CITY OF TEMECULA ) I, Susan Jones, Secretary of the Temecula Public Financing Authority, HEREBY DO CERTIFY that the foregoing Resolution No. TPFA 03-22 was duly adopted at a special meeting of the Board of Directom of the Temecula Public Financing Authority on the 28th day of October, 2003, by the following vote: AYES: 4 BOARDMEMBERS: Comerchero, Naggar, Pratt, Stone NOES: 0 BOARDMEMBERS: None ABSENT: 1 BOARDMEMBERS: Roberts ABSTAIN: 0 BOARDMEMBERS: None R:/TPFA Resos 2003/TPFA 03-22 4