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Home My WebLink About07-18 CC Ordinance - I I I ORDINANCE NO. 07-18 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF TEMECULA LEVYING SPECIAL TAXES WITHIN COMMUNITY FACILITIES DISTRICT NO. 88-12 OF THE CITY OF TEMECULA (YNEZ CORRIDOR) THE CITY COUNCIL OF THE CITY OF TEMECULA DOES HEREBY ORDAIN AS FOLLOWS: Section 1. Procedural Findinas. The City Council of the City of Temecula finds and determines that: A. Pursuant to Chapter 2.5 of Part 1 of Division 2 of Title 5 (commencing with Section 53311) of the California Government Code, commonly known as the "Mello- Roos Community Facilities Act of 1982" ("Act") on September 26, 1989, the Board of Supervisors of the County of Riverside (the "Board") adopted Resolution No. 89-449 (as amended by Resolution No. 90-046, adopted by the Board on January 9, 1990, the "Resolution of Formation") which established the Community Facilities District No. 88-12 of the County of Riverside (Ynez Corridor) ("CFD 88-12"). B. On September 26, 1989, the Board adopted Resolution No. 89-450 (as amended by Resolution No. 90-047, adopted by the Board on January 9, 1990, the "Resolution to Incur Bonded Indebtedness") which determined the necessity of incurring bonded indebtedness in an amount not to exceed $60,000,000.00. C. On April 10, 1990, the Board adopted Ordinance No. 690 (the "County Ordinance") authorizing the levy of a special tax within CFD 88-12. D. On December 1, 1989, the City of Temecula (the "City") was incorporated and the territorial boundaries of the City include all the area within CFD 88-12. E. On October 15, 1997, pursuant to the provisions of Section 53368 et seq. of the Act, the City and the County of Riverside (the "County") entered into an Agreement for Transfer of Community Facilities District No. 88-12 of the County of Riverside (Ynez Corridor) (the "Agreement"), transferring governance of CFD 88-12 from the Board to the City Council, changing the legal name of CFD 88-12 from "Community Facilities District No. 88-12 of the County of Riverside (Ynez Corridor)" to "Community Facilities District No. 88-12 of the City of Temecula (Ynez Corridor)," and providing for the recordation of an amended boundary map for CFD 88-12 and an amended notice of special tax lien with respect to CFD 88-12, as well as for a notice to be mailed to owners of property in CFD 88-12 advising them of the transfer, and such recordings have been made and such mailing has occurred as provided for in the Agreement. R:/Ords 2007/0rds 07-18 - I I I F. On June 25, 1998, the City, for and on behalf of the District, issued $18,690,000 principal amount of Special Tax Refunding Bonds, 1998 Series A (the "1998 Bonds") to refinance the then outstanding indebtedness of the District. G. The City has been advised that the Board is now considering taking action to repeal the County Ordinance, and the City Council desires to adopt an ordinance of the City levying special taxes within CFD 88-1 so that the levy of special taxes may continue and the obligations of CFD 88-1, including payment of the debt service on the 1998 Bonds, can be satisfied, as contemplated by the Agreement, the Act and the proceedings to form CFD 88-12. Section 2. Authorization of Levv. By the passage of this Ordinance this City Council hereby authorizes and levies special taxes within CFD 88-12, pursuant to the Act, at the rate and in accordance with the rate and method of apportionment of special taxes for CFD 88-12 approved by the Resolution of Formation (the "Rate and Method") which Resolution is by this reference incorporated herein. The special taxes, previously levied pursuant to the County Ordinance, shall continue to be levied pursuant to this Ordinance in the current fiscal year and in each fiscal year thereafter until payment in full of any bonds issued by the County or the City for CFD 88-12 (the "Bonds") as contemplated by the Resolution of Formation and the Resolution to Incur Bonded Indebtedness, and payment in full all costs of administering CFD 88-12. The Director of Finance of the City 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 CFD 88-12, in the manner and as provided in the Resolution of Formation and the Rate and Method. Section 3. Exempt Properties: Maximum Special Taxes. 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. In no event shall the special taxes be levied on any parcel within CFD 88-12 in excess of the maximum tax specified in the Rate and Method. Section 4. Use of Special Tax Revenues. All of the collections of the special tax shall be used as provided for in the Act and in the Resolution of Formation, including the payment of principal and interest on any bonds issued for CFD 88-12 (the "Bonds"), the replenishment of the reserves for the Bonds, the payment of the costs of the City in administering CFD 88-12, and the costs of collecting and administering the special tax. Section 5. Collection of Special Taxes. The special taxes shall be collected from time to time as necessary to meet the financial obligations of CFD 88-12 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 Director of Finance of the City is hereby authorized and directed to provide all necessary information to the auditor/tax collector of the County and to otherwise take all actions R/Ords 2007/0rds 07.18 2 - I 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 CFD 88-12 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 CFD 88-12 Notwithstanding the foregoing, the Director of Finance of the City may collect one or more installments of the special taxes on anyone or more parcels in CFD 88-12 by means of direct billing by the City of the property owners within CFD 88-12, if any of the Bonds bear interest at a variable interest rate, or otherwise if, in the judgment of the Director of Finance of the City, such means of collection will reduce the administrative burden on the City in administering CFD 88-12 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. Severabilitv Clause. 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 CFD 88-12, by a Court of competent jurisdiction, the balance of this Ordinance, and the application of the special tax to the remaining parcels within CFD 88-12 shall not be affected. I Section 7. The City Clerk shall certify to the adoption of this Ordinance. This Ordinance shall take effect upon its adoption. PASSED, APPROVED, AND ADOPTED by the City Council of the City of Temecula this 11th day of December, 2007. ashington, Mayor ATTEST: uJ [SEAL] I R:/Ords 2007/0rds 07.18 3 - I I I STATE OF CALIFORNIA ) COUNTY OF RIVERSIDE ) ss CITY OF TEMECULA ) I, Susan W. Jones, MMC, City Clerk of the City of Temecula, do hereby certify that the foregoing Ordinance No. 07-18 was duly introduced and placed upon its first reading at a meeting of the City Council of the City of Temecula on the 2yth day of November, 2007, and that thereafter, said Ordinance was duly adopted by the City Council of the City of Temecula at a meeting thereof held on the 11th day of December, 2007, by the following vote: AYES: 5 COUNCIL MEMBERS: NOES: 0 COUNCIL MEMBERS: ABSENT: 0 COUNCIL MEMBERS: ABSTAIN: 0 COUNCIL MEMBERS: R:lOrds 200710rds 07-18 4 Comerchero, Edwards, Naggar, Roberts, Washington None None None ~ W. Jones, MMC City Clerk