HomeMy WebLinkAbout2022-11 TPFA ResolutionRESOLUTION NO. TPFA 2022-11
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
TEMECULA PUBLIC FINANCING AUTHORITY
ACKNOWLEDGING RECEIPT OF A DEPOSIT RELATIVE
TO THE ANNEXATION OF PROPERTY TO AND THE
ISSUANCE OF BONDS FOR COMMUNITY FACILITIES
DISTRICT NO. 16-01 (RORIPAUGH RANCH PHASE 2),
AND AUTHORIZING AND DIRECTING ACTIONS WITH
RESPECT THERETO
THE BOARD OF DIRECTORS OF THE TEMECULA PUBLIC FINANCING
AUTHORITY DOES HEREBY RESOLVE AS FOLLOWS:
Section 1. Woodside 05S, LP, a California limited partnership (the "Developer") has
submitted to the Finance Director of the City of Temecula (the "City") a check in the amount of
$82,500.00 (the "Deposit"), to be used by the City to pay costs of the City and the Temecula Public
Financing Authority (the "Authority") in connection with proceedings under Section 53311 et seq.
of the California Government Code (the "Act") to annex property to and issue special tax bonds
for the Temecula Public Financing Authority Community Facilities District No. 16-01 (Roripaugh
Ranch Phase 2) (the "CFD").
Section 2. There has also been submitted a Deposit/Reimbursement Agreement (the
"Agreement"), to be entered into by the Developer, the City and the Authority (for itself and on
behalf of the CFD), and the Board of Directors of the Authority now desires to direct the Finance
Director of the City to accept the money to be advanced by the Developer, to authorize the
execution and delivery by the Authority of the Agreement, to employ certain consultants necessary
for the annexation of property to the CFD and the sale of bonds of the Authority for the CFD (the
"Bonds"), and to authorize and direct Authority staff to take actions necessary to present to the
Board of Directors of the Authority for approval the documents necessary to annex property to the
CFD and issue the Bonds of the Authority for the CFD.
Section 3. The Finance Director of the City is hereby requested to accept the Deposit
and any future advances by the Developer pursuant to the Agreement (collectively, the
"Deposits"), and to use the Deposits in the manner contemplated by the Agreement. The Executive
Director of the Authority is hereby authorized and directed to execute the Agreement for and on
behalf of the Authority and to take all actions necessary, in his discretion, to implement the
Agreement.
Section 4. City staff, acting for and on behalf of the Authority, are hereby requested to
take all actions necessary or advisable to present to the Board of Directors of the Authority for its
review and approval all proceedings necessary to annex property to the CFD and issue the Bonds
of the Authority for the CFD. The passage of this Resolution shall in no way obligate the Board
of Directors of the Authority to annex property to the CFD or to issue the Bonds.
Section 5. The firm of Webb Municipal Finance, LLC is hereby designated as Special
Tax Consultant to the Authority for the CFD, the firm of Fieldman Rolapp & Associates, Inc. is
hereby designated as municipal advisor to the Authority for the CFD, and the firm of Quint &
Thimmig LLP is hereby designated as Annexation Counsel, Bond Counsel and Disclosure Counsel
to the Authority for the CFD. The Executive Director is hereby authorized and directed to execute
agreements with said firms for their services in connection with the annexation of property to the
CFD and the issuance of the Bonds for the CFD, in the respective forms filed with the Finance
Director of the City. In any event, the fees and expenses of such consultants shall be payable
solely from Deposits and/or the proceeds of the Bonds when and if they are issued by the Authority
for the CFD.
Section 6. The firm of Stifel, Nicolaus & Company Incorporated is hereby designated
as the underwriter for the Bonds.
Section 7. The Finance Director is hereby authorized to engage an appraiser in
connection with the issuance of the Bonds, with the fees of the appraiser to be paid from Deposits
or the proceeds of the Bonds when and if they are issued by the Authority.
Section 8. The Executive Director, Treasurer, Secretary, legal counsel to the
Authority, and all other officers and agents of the Authority are hereby authorized and directed to
take all actions necessary or advisable to give effect to the transactions contemplated by this
Resolution.
PASSED, APPROVED, AND ADOPTED by the Board of Directors of the Temecula
Public Financing Authority this 23rd day of August, 2022.
ATTES .
RandiW1111, Secretary
[SEAL]
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Matt Rahn, Chair
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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 2022-11 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
August, 2022, by the following vote:
AYES: 4 BOARD MEMBERS: Edwards, Rahn, Schwank, Stewart
NOES: 0 BOARD MEMBERS: None
ABSTAIN: 0 BOARD MEMBERS: None
ABSENT: 1 BOARD MEMBERS: Alexander
Randi Johl, Secretary
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