HomeMy WebLinkAbout05-01 TPFA Ordinance
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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)
WHEREAS, on August 24, 2004, this Board of Directors of the Temecula Public
Financing Authority (the "Authority") 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 - Roripaugh
Ranch" (the "Resolution of Intention"), stating its intention to establish the Temecula Public
Financing Authority Community Facilities District No. 03-02 (Roripaugh Ranch) pursuant to the
Mello-Roos Community Facilities Act of 1982, Section 53311 et seq. of the California
Government Code (the "Law"), to finance costs of certain public improvements (the "Facilities"),
and to finance the costs to eliminate a fixed special assessment lien (the "Prior Lien"); and
WHEREAS, the Resolution of Intention called for a public hearing on the District to be
held on September 28, 2004; and
WHEREAS, on September 28, 2004, this Board of Directors adopted a Resolution
amending the Resolution of Intention (the "Amending Resolution") to add additional facilities
eligible to be funded by the District and to change the date of the public hearing from
September 28, 2004 to November 9, 2004; and
WHEREAS, on November 9, 2004, this Board of Directors opened the public hearing
and continued the public hearing to November 23, 2004, on November 23, 2004 this Board of
Directors opened the continued public hearing and again continued the publiC hearing to
December 7,2004; and
WHEREAS, on December 7, 2004, this Board of Directors opened the continued public
hearing and adopted a resolution making findings of complexity of the District, and then
continued the public hearing to January 11, 2005; and
WHEREAS, notice was published as required by the Law of the public hearing called
pursuant to the Resolution of Intention relative to the intention of this Board of Directors to form
the District and to provide for the costs of the Facilities, and the costs to eliminate the Prior
Lien; and
WHEREAS, on January 11, 2005 this Board of Directors held the continued public
hearing as required by Law relative to the determination to proceed with the formation of the
District and the Rate and Method; and
WHEREAS, at the public hearing all persons desiring to be heard on all matters
pertaining to the formation of the District and the levy of special taxes in the District were heard,
substantial evidence was presented and considered by this Board of Directors and a full and
fair hearing was held; and
WHEREAS, subsequent to said hearing, this Board of Directors adopted resolutions
entitled "A Resolution of the Board of Directors of the Temecula Public Financing Authority of
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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" (the
"Resolution of Formation"), "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" (the "Resolution of Necessity")
and "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)", which
resolutions established the District, authorized the levy of a special tax with the District, and
called an election within the District on the proposition of incurring indebtedness, levying a
special tax and establishing an appropriations limit within the District, respectively; and
WHEREAS, on January 11, 2005 an election was held within the District in which only
one of the eligibie landowner electors voted, and the landowner voted in favor of said
propositions.
NOW, THEREFORE, the Board of Directors of the Temecula Public Financing Authority
ordains as follows:
Section 1. By the passage of this Ordinance this Board of Directors hereby authorizes
and levies special taxes within the District, pursuant to the Law, at the rate and in accordance
with the rate and method of apportionment of special taxes for the District approved by the
Resolution of Formation (the "Rate and Method") which Resolution is by this reference
incorporated herein. The special taxes are hereby levied commencing in the current fiscal year
and in each fiscal year thereafter until payment in full of any bonds issued by the Authority for
the District (the "Bonds") as contemplated by the Resolution of Formation and the Resolution of
Necessity, and payment in full all costs of administering the District.
Section 2. The Authority Treasurer is hereby authorized and directed each fiscal year
to determine the specific special tax rate and amount to be levied for each parcel of real
property within the District, in the manner and as provided in the Resolution of Formation.
Section 3. Properties or entities of the State, federal or local governments shall be
exempt from any levy of the special taxes, to the extent set forth in the Rate and Method
attached as Exhibit B to the Resolution of Intention. In no event shall the special taxes be
levied on any parcel within the District in excess of the maximum tax specified in the Rate and
Method.
Section 4. All of the collections of the special tax shall be used as provided for in the
Law and in the Resolution of Formation including the payment of principal and interest on the
Bonds, the replenishment of the reserves for the Bonds, the payment of the costs of the
Authority and the City of Temecula in administering the District, and the costs of collecting and
administering the special tax.
Section 5. The special taxes shall be collected from time to time as necessary to meet
the financial obligations of the District on the secured real property tax roll in the same manner
as ordinary ad valorem taxes are collected. The special taxes shall have the same lien priority,
and be subject to the same penalties and the same procedure and sale in cases of delinquency
as provided for ad valorem taxes. In addition, the provisions of Section 53356.1 of the
California Government Code shall apply to delinquent special tax payments. The Treasurer is
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hereby authorized and directed to provide all necessary information to the auditor/tax collector
of the County of Riverside and to otherwise take all actions necessary in order to effect proper
billing and collection of the special tax, so that the special tax shall be levied and collected in
sufficient amounts and at the times necessary to satisfy the financial obligations of the District
in each fiscal year until the Bonds are paid in full and provision has been made for payment of
all of the administrative costs of the District.
Notwithstanding the foregoing, the Treasurer may collect one or more installments of
the special taxes on anyone or more parcels in the District by means of direct billing by the
Authority of the property owners within the District, if any of the Bonds bear interest at a
variable interest rate, or otherwise if, in the judgment of the Treasurer, such means of collection
will reduce the administrative burden on the Authority in administering the District or is
otherwise appropriate in the circumstances. In such event, the special taxes shall become
delinquent if not paid when due as set forth in any such respective billing to the applicable
property owners.
Section 6. If for any reason any portion of this Ordinance is found to be invalid, or if the
special tax is found inapplicable to any particular parcel within the District, by a Court of
competent jurisdiction, the balance of this Ordinance, and the application of the special tax to
the remaining parcels within the District shall not be affected.
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INTRODUCED, and the first reading occurred on January 11, 2005; and
PASSED, APPROVED AND ADOPTED, by the Board of Directors of the Temecula
Public Financing Authority at a meeting held on the 25th day of January, 2005.
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ATTEST:
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STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss
CITY OF TEMECULA )
I, Susan W. Jones, CMC, City Clerk/Authority Secretary of the Temecula Public
Financing Authority, HEREBY DO CERTIFY that the foregoing Ordinance No. TPFA 05-01 was
duly introduced and placed upon its first reading at a regular meeting of the Temecula Public
Financing Authority on the 111h day of January, 2005, and that thereafter, said Ordinance was
duly adopted and passed at a regular meeting of the Board of Directors of the Temecula Public
Financing Authority on the 251h day of January, 2005, by the following vote:
AYES:
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AGENCY MEMBERS:
Edwards, Naggar, Roberts, Washington,
Comerchero
NOES:
o
o
o
AGENCY MEMBERS:
ABSENT:
AGENCY MEMBERS:
AGENCY MEMBERS:
ABSTAIN:
Susan . Jones, CMC
City Clerk/A hority Secretary
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