HomeMy WebLinkAbout01-08 TPFA ResolutionRESOLUTION NO. TPFA 01- 08
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
TEMECULA PUBLIC FINANCING AUTHORITY DECLARING
ITS INTENTION TO INCUR BONDED INDEBTEDNESS OF THE
PROPOSED TEMECULA PUBLIC FINANCING AUTHORITY
COMMUNITY FACILITIES DISTRICT NO. 01-2 (HARVESTON)
WHEREAS, this Board of Directors has this date adopted its Resolution entitled "A
Resolution of the Board of Directors of the Temecula Public Financing Authority Declaring Its
Intention to Establish a Community Facilities District and To Authorize the Levy of Special
Taxes There[n," stating its intention to form a community facilities district pursuant to the Mello-
Roos Community Facilities Act of 1982 (the "Law"), for the purpose of financing $5,150,000 of
the costs of certain public improvements (the "Facilities"), funding certain annual maintenance
services costs and to defease the Winchester Hills Financing Authority Community Facilities
District No. 98-1 (Winchester Hills) Special Tax Bonds, 1998 Series A (the "Prior Bonds") which
Prior Bonds are secured by a special tax lien on parcels in the proposed community facilities
district, as further provided in said Resolution; and
WHEREAS, this Board of Directors estimates the amount required for the financing of
$5,150,000 of the costs of the Facilities and the financing of the costs of defeasing the Prior
Bonds to be the sum of $11,200,000; and
WHEREAS, in order to finance said Facilities and defease said Prior Bonds it is
necessary to incur bonded indebtedness in the amount of not to exceed $25,000,000.
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the Temecula
Public Financing Authority as follows:
Section 1. It is necessary to incur bonded indebtedness within the boundaries of the
proposed Temecula Public Financing Authority Community Facilities District No. 01-2
(Harveston) (the "District") in the amount of not to exceed $25,000,000 to finance the costs of
the Facilities and the costs of defeasing the Prior Bonds.
Section 2. The bonded indebtedness is proposed to be incurred for the purpose of
financing $5,150,000 of the costs of the Facilities and the financing of the costs of defeasing the
Prior Bonds, including costs incidental to or connected with the accomplishment of said
purposes and of the financing thereof.
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
$25,000,000, 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 forty
(40) years from the date of the issuance of said bonds.
R:/'rPFA 2001/'rPFA 01-08 1
Section 4. Tuesday, January 22, 2002, at 7:00 p.m. or as soon thereafter as the matter
may be heard, in the regular meeting place of this Board of Directors, City Council Chambers,
Temecula City Hall, 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. The notice shall substantially in the form of Exhibit A hereto.
Section 6. This Resolution shall take effect upon its adoption.
PASSED, APPROVED AND ADOPTED, by the Board of Directors of the Temecula
Public Financing Authority at a meeting held o~~
~/~ Jeff Comerchero, Chairperson
ATTEST:
STATE OF CALIFORNIA
COUNTY OF RIVERSIDE
CITY OF TEMECULA
ss
I, Susan W. Jones, CMC, Secretary of the Temecula Public Financing Authority,
HEREBY DO CERTIFY that the foregoing Resolution No. TPFA 01-08 was duly adopted at a
special meeting of the Board of Directors of the Temecula Public Financing Authority on the 11th
day of December, 2001, by the following vote:
AYES: 3
BOARDMEMBERS:
Naggar, Roberts, Comerchero
NOES: 1 BOARDMEMBERS: Pratt
ABSENT: 1 BOARDMEMBERS: Stone
ABSTAIN: 0
BOARDMEMBERS: None
C~hority Secretary
R:/'rPFA 2001/TPFA 01-08 2
20009.03:J5700
12/4/01
EXHIBIT A
TEMECULA PUBLIC FINANCING AUTHORITY
COMMUNITY FACILITIES DISTRICT NO. 01-2
(HARVESTON)
NOTICE OF PUBLIC HEARING
Notice is hereby given that on December 11, 2001, the Board of Directors of the Temecula
Public Financing Authority adopted a Resolution entitled "A Resolution of the Board of Directors
of the Temecula Public Financing Authority Declaring Its Intention To Incur Bonded
Indebtedness of the Proposed Temecula Public Financing Authority Community Facilities
District No. 01-2 (Harveston)." Pursuant to the Mello-Roos Community Facilities Act of 1982,
the Board of Directors of the Authority hereby gives notice as follows:
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 Temecula Public Financing Authority
Declaring Its Intention to Establish a Community Facilities District and To Authorize the
Levy of Special Taxes Therein," stating its intention to form a community facilities district
pursuant to the Mello-Roos Community Facilities Act of 1982 (the "Law"), for the purpose
of financing $5,150,000 of the costs of certain public improvements (the "Facilities"),
funding certain annual maintenance services costs and to defease the Winchester Hills
Financing Authority Community Facilities District No. 98-1 (Winchester Hills) Special Tax
Bonds, 1998 Series A (the "Prior Bonds") which Prior Bonds are secured by a special tax
lien on parcels in the proposed community facilities district, as further provided in said
Resolution; and
WHEREAS, this Board of Directors estimates the amount required for the
financing of $5,150,000 of the costs of the Facilities and the financing of the costs of
defeasing the Prior Bonds to be the sum of $11,200,000; and
WHEREAS, in order to finance said Facilities and defease said Prior Bonds it is
necessary to incur bonded indebtedness in the amount of not to exceed $25,000,000.
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the
Temecula Public Financing Authority as follows:
Section 1. It is necessary to incur bonded indebtedness within the boundaries of
the proposed Temecula Public Financing Authority Community Facilities District No. 01-
2 (Harveston) (the "District") in the amount of not to exceed $25,000,000 to finance the
costs of the Facilities and the costs of defeasing the Prior Bonds.
R:/'TPFA 2001/TPFA 01-08 3
Section 2. The bonded indebtedness is proposed to be incurred for the purpose
of financing $5,150,000 of the costs of the Facilities and the financing of the costs of
defeasing the Prior Bonds, including costs incidental to or connected with the
accomplishment of said purposes and of the financing thereof.
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 $25,000,000, 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 forty (40) years from the date of the issuance of said bonds.
Section 4. Tuesday, January 22, 2002, at 7:00 p.m. or as soon thereafter as the
matter may be heard, in the regular meeting place of this Board of Directors, City
Council Chambers, Temecula City Hall, 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. The notice shall
substantially in the form of Exhibit A hereto.
Section 6. This Resolution shall take effect upon its adoption.
B. The hearing referred to in the aforesaid Resolution shall be at the time and place
specified in the Resolution.
C. At that time and place any person interested, including persons owning property in
the area of the proposed community facilities district, will be heard upon the proposed
debt issue.
Dated: January _, 2002
Temecula Public Financing Authority
/s/ Susan W. Jones, CMC
Secretary,
R:/TPFA 2001/TPFA 01-08 4