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HomeMy WebLinkAbout011105 TPFA Minutes I I I MINUTES OF A REGULAR MEETING OF THE TEMECULA PUBLIC FINANCING AUTHORITY JANUARY 11, 2005 A regular meeting of the City of Temecula Public Financing Authority was called to order at 7:40 P.M., in the City Council Chambers, 43200 Business Park Drive, Temecula. ROLL CALL PRESENT: 4 AUTHORITY MEMBERS: Naggar, Roberts, Washington, and Comerchero ABSENT: o AUTHORITY 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 December 7, 2004. MOTION: Authority Member Naggar moved to approve Consent Calendar Item NO.1. The motion was seconded by Authority Member Roberts and electronic vote reflected approval At this time the City Council and the Community Services District were reconvened. JOINT CITY COUNCIL. TEMECULA PUBLIC FINANCING AUTHORITY. AND COMMUNITY SERVICES DISTRICT PUBLIC HEARING 2 Formation of Temecula Public Financina Authority Community Facilities District No. 03- 02 (Roripauah Ranch) RECOMMENDATION: 2.1 That the City Council hold a public hearing regarding the proposed bond financing by the Temecula Public Financing Authority Community Facilities District No. 03-02 (Roripaugh Ranch) of various public improvements; 2.2 That the City Council adopt a resolution entitled: R:IMinutes.tpfaI011105 I I I 2.3 RESOLUTION NO. 05-05 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 - RORIPAUGH RANCH 03- 02 That the City Council adopt a resolution entitled: RESOLUTION NO. 05-06 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF TEMECULA APPROVING JOINT COMMUNITY FACILITIES AGREEMENTS RELATING TO THE FINANCING OF PUBLIC IMPROVEMENTS AND IMPLEMENTATION OF ACQUISITION AGREEMENT, AND APPROVING MAINTENANCE AGREEMENT FOR LONG VALLEY WASH RECREATIONAL TRAILS - RORIPAUGH RANCH 2.4 That the Temecula Community Services District adopt a resolution entitled: 2.5 2.6 R:IMinutes.lpfaI011105 RESOLUTION NO. CSD NO. 05-01 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE TEMECULA COMMUNITY SERVICES DISTRICT APPROVING JOINT COMMUNITY FACILITIES AGREEMENT RELATING TO THE FINANCING OF PUBLIC IMPROVEMENTS - RORIPAUGH RANCH That the Public Financing authority hold the continued public hearings regarding the formation of the proposed Temecula Public Financing Authority Community Facilities District No. 03-02 (Roripaugh Ranch - the CFD). the levy of special taxes in the CFD, and the issuance of bonds by the Public Financing Authority for the CFD; That the Temecula Public Financing Authority adopt a resolution entitled: RESOLUTION NO. TPFA 05-01 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE TEMECULA PUBLIC FINANCING AUTHORITY OF FORMATION OF TEMECULA PUBLIC FINANCING AUTHORITY COMMUNITY FACILITIES DISTRICT NO. 03-02 (RORIPAUGH RANCH), 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 2 2.7 That the Temecula Public Financing Authority adopt a resolution entitled: I RESOLUTION NO. TPFA 05-02 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. 03-02 (RORIPAUGH RANCH) AND SUBMITTING PROPOSITION TO THE QUALIFIED ELECTORS OF THE DISTRICT 2.8 That the Temecula Public Financing Authority adopt a resolution entitled: RESOLUTION NO. TPFA 05-03 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE TEMECULA PUBLIC FINANCING AUTHORITY CALLING SPECIAL ELECTION WITHIN COMMUNITY FACILITIES DISTRICT NO. 03-02 (RORIPAUGH RANCH) 2.9 That the Public Financing Authority hold an election regarding the CFD; 2.10 That the Temecula Public Financing Authority adopt a resolution entitled: I RESOLUTION NO. TPFA 05-04 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 - RORIPAUGH RANCH 3-02 2.11 That the Temecula Public Financing Authority introduce and read by title only an ordinance entitled: ORDINANCE NO. TPFA 05-01 AN ORDINANCE OF THE TEMECULA PUBLIC FINANCING AUTHORITY LEVYING SPECIAL TAXES WITHIN TEMECULA PUBLIC FINANCING AUTHORITY COMMUNITY FACILITIES DISTRICT NO. 03-02 (RORIPAUGH RANCH) Finance Director Roberts briefly reviewed the staff report (of record) and introduced Bond Attorney Thimmig who, in more detail, explained the necessary actions and procedure for the formation of this Community Facilities District; highlighted technical changes made to the Rate and Method of Apportionment for the Levy of Special Taxes; and advised that the five land owners are entitled to one vote for each acre or portion of each acre owned within the District. I Councilman Washington commended Mr. Thimmig on his clear and concise description on the formation of a Community Facilities District, bond issuance, and election process. R:IMinutes.tpfaI01 1 105 3 I I I City Attorney Thorson advised that part of the proposed recommendation would be to approve the Maintenance Agreement for Long Valley Wash; that the Homeowners Association will be required to fund the maintenance and insurance cost; and noted that typographical changes were made to Section 8 to change the name of Aqencv to City and to include the indemnity provision. At this time, the public hearing was opened. Mr. Kevin Everett, representing Ashby USA, LLC, advised that he was present to answer questions. There being no additional input, the public hearing was closed. MOTION: Authority Member Naggar moved to adopt Resolution Nos. 05-05 and 05-06. The motion was seconded by Councilman Washington and electronic vote reflected unanimous approval. MOTION: Authority Member Naggar moved to adopt Resolution Nos. CSD 05-01. The motion was seconded by Councilman Roberts and electronic vote reflected unanimous approval. At this time, a short recess was taken to execute the Joint Community Facilities Agreements. There being no property owners or registered voters within the District to file written protests, Chairman Comerchero opened the continued public hearing. There being no public comment, the public hearing were closed. MOTION: Authority Member Washington moved to adopt Resolution Nos. TPFA 05-01, TPFA 05-02, and TPFA 05-03. The motion was seconded by Councilman Roberts and electronic vote reflected unanimous approval. Having opened the one ballot received from Ashby USA, City Clerk Jones advised that of the 256 qualified landowner votes, 173 was cast by Ashby USA in favor of the special taxes. MOTION: Authority Member Naggar moved to adopt Resolution Nos. TPFA 05-04. The motion was seconded by Councilman Washington and electronic vote reflected unanimous approval. City Attorney Thorson introduced and read by title only Ordinance No. TPFA 05-01. MOTION: Authority Member Naggar moved to adopt introduce Ordinance No. TPFA 05-01. The motion was seconded by Councilman Roberts and electronic vote reflected unanimous approval. At this time, the City Council meeting was recessed and the Community Services District was adjourned. EXECUTIVE DIRECTOR'S REPORT No additional comment. R:IMinutes.tpfaI011105 4 BOARD OF DIRECTORS' REPORTS I No comments. ADJOURNMENT At 8:00 P.M., the Temecula Public Financing Authority meeting was formally adjourned to Tuesday, January 25, 2005. ATTEST: I I R:IMinutes.tpfaI01 1 105 5 / %L-- e Comerchero, Chairman