HomeMy WebLinkAbout98-06 WHFA ResolutionRESOLUTION NO. WHFA 98-06
A RESOLUTION OF THE BOARD OF DIRECTORS OF THF~
WINCHESTER HIIJ~S FINANCING AUTHORITY OF
INTENTION TO INCL~ BONDI~ INDEBTEDNESS OF THF~
PROPOSED WINCHESTER HH,I,S FINANCING
AUTHORITY COMMUNITY FACILITIES DISTRICT NO.
98-1 (WINCH'ESTER HIIJ~S) PURSUANT TO TH'F~
MELLO-ROOS COMMUNITY FACILITIES ACT OF 1982
WHEREAS, this Board of Directors has this date adopted its Resolution entitled "A
Resolution of the Board of Directors of the Winchester Hills Financing Authority of Intention to
Establish a Community Facilities District and To Authorize the Levy of Special Taxes Pursuant
to the Mello-Roos Community Facilities Act of 1982", stating its intention to form a community
facilities district pursuant to the Mello-Roos community Facilities Act of 1982, as amended (the
"Act"), Chapter 2.5 of Part 1 of Division 2 of Title 5 of the California Government Code, for the
purpose of refinancing certain public improvements by means of refinancing assessment liens (the
"Liens"), as provided in said Resolution; and
WHEREAS, this Board of Directors estimates the amount required for the refinancing of
the Liens to be the sum of not to exceed $11,000,000; and
~S, in order to retinanee the Liens it is necessary to incur bonded indebtedness
in the amount of not to exceed $16,000,000.
NOW, THk-ZREFORE, BE IT RESOLVg~ by the Board of Directors of the Winchester
Hills Financing Authority as follows:
Section 1. It is necessary to incur bonded indebtedness within the boundaries of the
proposed Winchester Hills Financing Authority community Facilities District No. 98-1
(Winchester Hills) (the "District") in the amount of up to $16,000,000 to finance the costs of the
Facilities.
Section 2. The bonded indebtedness is proposed to be incurred for the purpose of
refinancing the Liens, including all costs incidental to or connected with the accomplishment of
said purpose, as permitted by Section 53345.3 of the Act.
Section 3. This Board of Directors, acting as legislative body for the District, intends
to authorize the issuance and sale of bonds in the maximum aggregate principal amount of not to
exceed $16,000,000, hearing interest payable semi-annually or in such other manner as this Board
of Directors shall determine, at a rate not to exceed the maximum rate of interest as may be
authorized by applicable law at the time of sale of such bonds, and maturing not to exceed 40
years from the date of the issuance of said bonds.
R:kresos.whfa98-06 I
Section 4. Tuesday, April 14, 1998, at 7:00 p.m., in the City Council Chambers,
43200 Business Park Drive, Temecula, California, be, and the same are hereby appointed and
fixed as the time and place when and where this Board of Directors, as legislative body for the
District, will conduct a public hearing on the proposed debt issue and consider and finally
determine whether the public interest, convenience and necessity require the issuance of bonds of
the Authority for the District.
Section 5. The Secretary is hereby directed to cause notice of said public hearing to
be given by publication one time in a newspaper of general circulation circulated within the
District. The publication of said notice shall be completed at least seven (7) days before the date
herein set for said public hearing. Said notice shall substantially in the form of Exhibit A hereto.
PAS~, APPROVED AND ADOPTED, by the Board of Directors of the Winchester
Hills Financing Authority at a regular meeting held on the 24th day of February, 1998.
?/~f/cf~merchero, Chairperson
ATTEST:
· Jones, C~.MC ,
ity Clerk/AX'uthoi'ity Secretary
[SEAL]
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STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss
CITY OF TEMECULA )
I, Susan W. Jones, Acting Secretary of the Winchester Hills Financing Authority,
HEREBY DO CERTIFY that the foregoing Resolution No. WHFA 98-06 was duly adopted at a
regular meeting of the Board of Directors of the Winchester Hills Financing Authority on the 24th
day of February, 1998, by the following roll call vote:
AYES: 5 BOARDMEMBERS: Ford, Lindemarts, Roberts, Stone,
Comerchero
NOES:
0 BOARDMEMBERS: None
ABSENT: 0 BOARDMEMBERS: None
· Jones, ~2MC ]
Acting City Clerk3t~_uthority Secretary
R:Lresos.whfa98-06 3
EXHIBIT A
NOTICE OF PUBLIC HEARING
Winchester Hills Financing Authority
Commnnity Facilities District No. 98-1
(Winchester Hills)
Notice is hereby given that on February 24, 1998, the Board of Directors of the
Winchester Hills Financing Authority adopted a Resolution entitled "A Resolution of the Board
of Directors of the Winchester Hills Financing Authority of Intention To Incur Bonded
Indebtedness of the Proposed Winchester Hills Financing Authority Community Facilities District
No. 98-1 (Winchester Hills) Pursuant To The Mello-Roos Community Facilities Act of 1982".
Pursuant to the Mello-Roos Community Facilities Act of 1982 (the "Act") the Board of Directors
hereby gives notice as follows:
A. The text of said Resolution is as follows:
WHEREAS, this Board of Directors has this date adopted its Resolution entitled "A
Resolution of the Board of Directors of the Winchester Hills Financing Authority of Intention to
Establish a Community Facilities District and To Authorize the Levy of Special Taxes Pursuant
to the Mello-Roos Community Facilities Act of 1982", stating its intention to form a community
facilities district pursuant to the Mello-Roos Community Facilities Act of 1982, as amended (the
"Act"), Chapter 2.5 of Part 1 of Division 2 of Title 5 of the California Government Code, for the
purpose of refinancing certain public improvements by means of refinancing assessment liens (the
"Liens"), as provided in said Resolution; and
WI:I~REAS, this Board of Directors estimates the amount required for the refinancing of
the Liens to be the sum of not to exceed $11,000,000; and
wm~AS, in order to refinance the Liens it is necessary to incur bonded indebtedness
in the amount of not to exceed $16,000,000.
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the Winchester
Hills Financing Authority as follows:
Section 1. It is necessary to incur bonded indebtedness within the boundaries of the
proposed Winchester Hills Financing Authority Community Facilities District No. 98-1
(Winchester Hills) (the "District") in the amount of up to $16,000,000 to finance the costs of the
Facilities.
Section 2. The bonded indebtedness is proposed to be incurred for the purpose of
R:~r~aos.whfa98-06 4
refinancing the Liens, including all costs incidental to or connected with the accomplishment of
said purpose, as permitted by Section 53345.3 of the Act.
Section 3. This Board of Directors, acting as legislative body for the District, intends
to authorize the issuance and sale of bonds in the maximum aggregate principal amount of not to
exceed $16,000,000, bearing interest payable semi-annually or in such other manner as this Board
of Directors shall determine, at a rate not to exceed the maximum rate of interest as may be
authorized by applicable law at the time of sale of such bonds, and maturing not to exceed 40
years from the date of the issuance of said bonds.
Section 4. Tuesday, April 14, 1998, at 7:00 p.m., in the City Council Chambers,
43200 Business Park Drive, Temecula, California, be, and the same are hereby appointed and
fixed as the time and place when and where this Board of Directors, as legislative body for the
District, will conduct a public hearing on the proposed debt issue and consider and finally
determine whether the public interest, convenience and necessity require the issuance of bonds of
the Authority for the District.
Section 5. The Secretary is hereby directed to cause notice of said public hearing to
be given by publication one time in a newspaper of general circulation circulated within the
District. The publication of said notice shall be completed at least seven (7) days before the date
herein set for said public bearing. Said notice shall substantially in the form of Exhibit A hereto.
B. The hearing referred to in the aforesaid Resolution is to be held at the time and
place specified in said Resolution.
C. At that time and place the testimony of all interested persons, including persons
owning property in the area of the proposed community facilities district, will be heard.
Dated: ,1998
By: /s/Susan Jones , CMC
Acting City Clerk, Authority Secretary
Winchester Hills Financing Authority
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