HomeMy WebLinkAbout2023-13 CC ResolutionRESOLUTION NO.2023-13
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
THE CITY COUNCIL OF THE CITY OF TEMECULA DOES HEREBY RESOLVE
AS FOLLOWS:
Section 1. The City of Temecula (the "City"), the Temecula Community Services
District and the Temecula Housing Authority are parties to a Joint Exercise of Powers
Agreement which established the Temecula Public Financing Authority (the "Authority") for the
purpose, among others, of issuing bonds to finance public capital improvements.
Section 2. The Board of Directors of the Authority has formed the Temecula Public
Financing Authority Community Facilities District No. 16-01 (Roripaugh Ranch Phase 2) (the
"CFD"), and the Authority intends to issue bonds of the Authority for the CFD (the "Bonds") to
finance various public improvements within the City of Temecula (the "Improvements").
Section 3. The City Council has on this date held a duly noticed public hearing with
respect to the financing of the Improvements with the proceeds of the Bonds, as required by
Section 6586.5(a) of the California Government Code.
Section 4. The City Council hereby finds that significant public benefits will arise from
the financing of the Improvements with the proceeds of the Bonds, in accordance with Section
6586 of the California Government Code.
Section 5. The City Council hereby approves the financing of the Improvements with the
proceeds of the Bonds, and the issuance of the Bonds by the Authority for the CFD.
Section 6. This Resolution shall take effect upon adoption.
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PASSED, APPROVED, AND ADOPTED by the City Council of the City of Temecula
this 14'' day of February, 2023.
Zak Schwank, Mayor
ATTEST:
andi y Clerk
[SEAL]
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STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss
CITY OF TEMECULA )
1, Randi Johl, City Clerk of the City of Temecula, do hereby certify that the foregoing
Resolution No. 2023-13 was duly and regularly adopted by the City Council of the City of
Temecula at a meeting thereof held on the 14'h day of February, 2023, by the following vote:
AYES: 5 COUNCIL MEMBERS: Alexander, Brown, Kalfus, Schwank,
Stewart
NOES: 0 COUNCIL MEMBERS: None
ABSTAIN: 0 COUNCIL MEMBERS: None
ABSENT: 0 COUNCIL MEMBERS: None
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Randi Johl, City Clerk
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