HomeMy WebLinkAbout2023-06 TPFA ResolutionRESOLUTION NO. TPFA 2023-06
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
TEMECULA PUBLIC FINANCING AUTHORITY
AUTHORIZING THE LEVY OF A SPECIAL TAX IN
COMMUNITY FACILITIES DISTRICT NO. 03-03
(WOLF CREEK)
THE BOARD OF DIRECTORS OF THE TEMECULA PUBLIC FINANCING
AUTHORITY DOES HEREBY RESOLVE AS FOLLOWS:
Section 1. The Temecula Public Financing Authority is the legislative body for
Community Facilities District No. 03-03 (Wolf Creek) (the "CFD"), created pursuant to the Mello -
Roos Community Facilities District Act of 1982, as amended (the "Act").
Section 2. The Board of Directors has enacted Ordinance No. TPFA 03-02 in
accordance with Government Code Section 53340 authorizing the levy of a special tax assessment
on the property located within the CFD.
Section 3. The Board of Directors has completed all steps necessary to levy a special
tax assessment in accordance with the procedures set forth in the Act.
Section 4. Pursuant to the provisions of Resolution No. TPFA 03-22 and
Ordinance No. TPFA 03-02, there is to be levied an aggregate special tax of $1,659,932.78 on the
taxable parcels located in the CFD for Fiscal Year 2023-24 to be provided by Webb Municipal
Finance, LLC, to the Auditor -Controller of the County.
Section 5. The Special Tax levy set forth above does not exceed the amount previously
authorized by Resolution No. TPFA 03-22 and Ordinance No. TPFA 03-02, and is not in excess
of that previously approved by the qualified electorate of the CFD.
Section 6. The proceeds of the Special Tax levy shall be used to pay, in whole
or in part, the costs of the following items:
A. Payment of principal and interest on the outstanding authorized bonded
indebtedness.
B. Replenishment of the required bond reserve funds, or other reserve funds, if
necessary.
C. Payment of the administrative costs and incidental expenses of the CFD, as
provided in Resolution No. TPFA 03-22 and the indenture of trust for the CFD and the Act.
The proceeds of the special tax levy shall be used as set forth above, and shall not be used for any
other purpose.
Section 7. The Auditor -Controller of the County is hereby directed to enter the
installment of the special tax for the exact rate and amount of the special tax levied in accordance
with this resolution for each lot or parcel of land affected in a space marked "CFD No. 03-3 (Wolf
Creek)" on the next County assessment roll on which taxes will become due.
Section 8. The County Auditor -Controller shall, at the close of the tax
collection period, promptly render to the CFD a detailed report showing the amounts of the special
tax installments, penalties, interest and fees collected, and from which properties they have been
collected. Any expenses to be paid to the Auditor -Controller for carrying out the foregoing
responsibilities shall be in accordance with a contract entered into between the CFD and the
Auditor, pursuant to Section 29304 of the Government Code.
Section 9. The Authority Secretary shall certify adoption of the resolution.
PASSED, APPROVED, AND ADOPTED by the Board of Directors of the Temecula
Public Financing Authority this 25t' day of July, 2023.
Zak Schwank, Chair
ATTE
Randi 4vhf, Secretary
[SEAL]
'I
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 2023-06 was duly and regularly adopted by the Board of
Directors of the Temecula Public Financing Authority at a meeting thereof held on the 25t' day of
July, 2023, by the following vote:
AYES: 4 BOARD MEMBERS: Brown, Kalf is, Schwank, Stewart
NOES: 0 BOARD MEMBERS: None
ABSTAIN: 0 BOARD MEMBERS: None
ABSENT: 1 BOARD MEMBERS: Alexander
i
Randi Johl, Secretary
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