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HomeMy WebLinkAbout98-01 WHFA OrdinanceORDINANCE NO. WltFA 98-01 AN ORDINANCE OF THE BOARD OF DIRECTORS OF THE WINCHESTER HILLS FINANCING AUTHORITY LEVYING SPECIAL TAXES WITHIN THE WINCHESTER ltlLLS FINANCING AIYYHORITY COMMUNITY FACILITIES DISTRICT NO. 98-1 (WINCHESTER HILLS) WHEREAS, on February 24, 1998, this Board of Directors adopted a 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" (the "Resolution of Intention") stating its intention to establish the W'mchester Hills Financing Authority Community Facilities District No. 98-1 (Winchester Hills) (the "District") pursuant to Chapter 2.5 of Part 1 of Division 2 of Title 5, commencing with Section 53311, of the California Government Code (the "Act"), to refinance certain assessment liens (the "Liens"); Wltl~EAS, notice was published as required by the Act relative to the intention of this Board of Directors to form the District and to provide for the refinancing of the Liens; WHEREAS, this Board of Directors has held a noticed public heating as required by Act relative to the determination to proceed with the formation of the District and the rate and method of apportionment of the special tax to be levied within the District to refinance the Liens; W/tEREAS, at said hearing all persons desiring to be heard on all matters pertaining to the formation of the District and the levy of said special taxes were heard, a community facilities district report was presented and considered by this Board of Directors and a full and fair hearing was held; WHEREAS, subsequent to said hearing, this Board of Directors adopted resolutions entitled "A Resolution of the Board of Directors of the Winchester Hills Financing Authority of Formation of Winchester Hills Financing Authority Community Facilities District No. 98-1 (Winchester Hills), Authorizing the Levy of a Special Tax Within the District and Preliminarily Establishing an Appropriations Limit for the District" (the "Resolution of Formation"), "A Resolution the Board of Directors of the Winchester Hills Financing Authority Determining the Necessity to Incur Bonded Indebtedness Within the Winchester Hills Financing Authority Community Facilities District No. 98-1 (Winchester Hills)" and "A Resolution the Board of Directors of the Winchester Hills Financing Authority Calling Special Election", 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 Orda.\98-01 1 WHEREAS, an election was held within the District in which the eligible landowner elector approved said propositions by more than the two-thirds vote required by the Act. NOW, THEREI~RE, BE IT RESOLVED by the Board of Directors of the Winchester Hills Financing Authority 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 California Government Code Sections 53328 and 53340, at the rates and in accordance with the method of apportionment set forth in Exhibit A to the Resolution of Formation (the "Rate and Method of Apportionment"). The special taxes are hereby levied commencing in fiscal year 1998-99 and in each fiscal year thereafter until payment in full of any bonds of the Authority issued for the District (the "Bonds"), and payment of all costs administering the District. Section 2. The Finance Director of the City of Temecula is hereby authorized and directed each fiscal year to determine the specific special tax rate and amount to be levied for the next ensuing fiscal year for each parcel of real property within the District, in the manner and as provided in the Rate and Method of Apportionment. 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 of Apportionment. 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 of Apportionment. Section 4. All of the collections of the special tax shall be used as provided for in the Act, the Rate and Method of Apportionment, and in the Resolution of Formation including, but not limited to, the payment of principal and interest on the Bonds, the replenishment of the reserve fund 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 City Finance Director is 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 Finance Director of the City may collect one or more installments of the special taxes by means of direct billing by the Authority of the property owners Ords.\98-01 2 within the District, if, in the judgment of the Finance Director, 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 property owners. Whether the special taxes are levied in the manner provided in the first or the second preceding paragraph, 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 Act shall apply to delinquent special tax payments. 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 jurisd'mtion, the balance of this ordinance and the apphcation of the special tax to the remaining parcels within the District shall not be affected. Section 7. The Chairperson shall sign this Ordinance and the Secretary shall cause the same to be published within fifteen (15) days after its pas~ge at least once in a newspaper of general circulation published and circulated in the City of Temecula. PASSED, APPROVED AND ADOFrED, by the Board of Directors of the Winchester ~ills Financing Authority at a regular meeting held on the 28th day of April, 1998. ATTEST: Jeff ComerShero, Chairperson · Jones, CM~ Acting Authority. SecrL~'~,9.ry/City Clerk [SEAL] Ords.\98-01 3 STATE OF CALIFORNIA ) COUNTY OF RIVERSIDE ) ss CITY OF TEMECULA ) I, Susan W. Jones, Acting City Clerk of the City of Temecula, California, do hereby certify that the foregoing Ordinance No. 98- 01 was duly introduced and placed upon its first reading at a regular meeting of the City Council on the 14th day of April 1998, and that thereafter, said Ordinance was duly adopted and passed at a regular meeting of the City Council of the City of Temecula on the 28th day of April 1998, by the following roll call vote: AYES: 5 BOARDMEMBERS: Ford, Lindemans, Roberts, Stone, Comerchero NOES: 0 BOARDMEMBERS: None ABSENT: 0 BOARDMEMBERS: None ~. , Susan W' Iones, CMC ~ x~t~lg City Clerk Ords.\98-01 4