Res 88-122RESOLUTION NO. 88- 122
RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF POWAY, CALIFORNIA, ESTABLISHING COMMUNITY
FACILITIES DISTRICT NO. 88-1 OF THE CITY OF
POWAY (PARKWAY BUSINESS CENTER), AUTHORIZING
THE LEVY OF A SPECIAL TAX WITHIN COMMUNITY
FACILITIES DISTRICT NO. 88-1 OF THE CITY OF
POWAY (PARKWAY BUSINESS CENTER) AND CALLING
AN ELECTION
WHEREAS, the City Council of the City of Poway (the
"City Council") has heretofore adopted Resolution No. 88-102
stating its intention to form Community Facilities District No.
88-1 of the City of Poway (Parkway Business Center) ("Community
Facilities District No. 88-1" or the "District") pursuant to
the Mello-Roos Community Facilities Act of 1982, as amended
(the "Act"); and
WHEREAS, a copy of Resolution No. 88-102, setting
forth the proposed boundaries of Community Facilities District
No. 88-1, the facilities proposed to be provided therein and
the rate and method of apportionment of the special tax
proposed to be levied within the District is on file with the
City Clerk and incorporated herein by reference; and
WHEREAS, on September 28, 1988, notice of the City's
intention to form the District was mailed to each of the
landowners within Community Facilities District No. 88-1 known
to the City Clerk; and
WHEREAS, on September 29, 1988, notice was published
as required by Government Code Section 53322 relative to the
intention of the City Council to form proposed Community
Facilities District No. 88-1, to levy a special tax and to
incur bonded indebtedness in the amount of $45,000,000 within
the boundaries of proposed Community Facilities District No.
88-1; and
WHEREAS, on October 18, 1988, the City Council
conducted a noticed public hearing as required by the Act
relative to the proposed formation of Community Facilities
District No. 88-1, the levy of the special tax therein and the
issuance of bonded indebtedness by the District at the
conclusion of which the Council determined to proceed with
forming the District through the adoption of this resolution;
and
WHEREAS, prior to the commencement of the public
hearing on October 18, 1988, there was filed with the City
Council a report (the "Report") containing a description of the
Resolution No. 88-1 22
Page 2
facilities necessary and adequate to meet the needs of the
District', and an estimate of the cost of such facilities and
incidental expenses to be financed by the District as required
by Section 53321.5 of the Government Code; and
WHEREAS, at the public hearing all persons desiring to
be heard on all matters pertaining to the formation of
Community Facilities District No. 88-1, the levy of the special
tax and the issuance of bonded indebtedness were heard and a
full and fair hearing was held; and
WHEREAS, at the public hearing evidence was presented
to the City Council on the matters before it, and this City
Council at the conclusion of the hearing is fully advised as to
all matters relating to the formation of the District, the levy
of the special tax and the issuance of bonded indebtedness
therein; and
WHEREAS, the City Clerk has filed with the City
Council a certificate stating that fewer than twelve registered
voters have resided within the proposed boundaries of Community
Facilities District No. 88-1 for each of the 90 days preceding
the October 18, 1988 public hearing; and
WHEREAS, Security First National Corporation, South
Poway Associates and Poway Ventures (collectively, the "Owner")
have agreed to advance funds to the City to pay all costs
incurred in creating the District and have incurred certain
other direct costs and performed certain work-in-kind related
to the formation of the District and the construction of the
facilities to be financed which the City desires to reimburse
to the Owner, or its successor or assignee, from the proceeds
of any bonds sold by the District as permitted by Section
53313.5 and 53314.9 of the Act and as contemplated, in part, by
the Reimbursement Agreement between the City and the Owner
previously approved by the City Council; and
WHEREAS, the Environmental Impact Report for the South
Poway Development Plan (the "EIR") which was prepared in
compliance with the California Environmental Quality Act
("CEQA") and the City's CEQA Guidelines, and which was
certified in October 1985, addressed the formation of the
District and the proposed issuance of bonded indebtedness by
the District;
NOW, THEREFORE, the City Council of the City of Poway
DOES HEREBY RESOLVE, DETERMINE AND ORDER as follows:
Section 1. Each of the above recitals is true and
correct.
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Resolution No. 88-122
Page 3
Section 2. A community facilities district to be
designated "Community Facilities District No. 88-1 of the City of
Poway (Parkway Business Center)" is hereby established pursuant
to the Act. The City Council is hereby appointed to act as the
legislative body of Community Facilities District No. 88-1 pur-
suant to the Act. The City Council hereby finds and determines
that all prior proceedings taken with respect to the establish-
ment of the District were valid and in conformity with the
requirements of law, including the Act. This finding is made in
accordance with the provisions of Section 53325.1 of the
Government Code.
Section 3. The legal description and map of the boun-
daries of Community Facilities District No. 88-1, as described in
Resolution No. 88-102, are incorporated herein, and shall be the
boundaries of Community Facilities District No. 88-1. The map
was recorded by the San Diego County Recorder on September 27,
1988 in Book 22, Page 49 of the book of maps of assessment and
community facilities districts as required by Section 3111 of the
Streets and Highways Code.
Section 4. The facilities (the "Facilities") authorized
to be provided within Community Facilities District No. 88-1 are
the public improvements and related equipment and work described
in Resolution No. 88-102 and the Report. The District is
authorized either to construct or acquire the Facilities in
accordance with the Act. The City and the District intend to
reimburse the Owner for the incidental expenses to be incurred
pursuant to the Reimbursement Agreement and for any work-in-kind
to be performed with respect to the Facilities in an amount equal
to the lesser of the value or the cost of such expenses and work
in accordance with the Act.
Section 5. The City Council has considered the EIR and
Subsequent EIR for the South Poway Community Plan, particularly
with respect to the formation of the District and the financing of
the Facilities, which EIR is on file with the City Council and
finds that there is no substantial evidence that the formation of
the District and the issuance of bonds to finance the construc-
tion and acquisition of the Facilities will have a significant
effect on the environment. The City Council certifies that the
Negative Declaration was prepared in compliance with CEQA and the
City's CEQA guidelines. The City Clerk is hereby authorized and
directed to file an appropriate Notice of Determination with
the San Diego County Clerk concerning the formation of the
District, the financing of the Facilities and the issuance of
the bonds.
Section 6. Except where funds are otherwise available,
it is the intention of the City Council to levy annually' in
accordance with the procedures contained in the Act a special tax
sufficient to pay for: (i) the Facilities
-3-
R/CFD1
Resolution No. 88-122
Page 4
(including incidental expenses for the ~design, planning,
engineering and inspection of the Facilities); (ii) the
principal and interest and other periodic costs on the bonds
proposed to be issued to finance the Facilities, including the
establishment and replenishment of any reserve funds deemed
necessary by the District, any remarketing, credit enhancement
and liquidity facility fees (including such fees for
instruments which serve as the basis of a reserve fund in lieu
of cash); and (iii) the costs of forming Community Facilities
District No. 88-1 and administering the levy and collection of
the special tax and all other administrative costs related to
the special tax levy, bond issues or District operations. The
rate and method of apportionment of the special tax are
described in detail in Exhibit "A" attached hereto. Exhibit
"A" allows each landowner and resident within the District to
estimate the maximum amount that may be levied against each
parcel. The special tax is based on the expected demand that
each parcel of real property within Community Facilities
District No. 88-1 will place on the Facilities and on the
expected benefit that each parcel will derive from the right to
access the Facilities. The City Council hereby determines the
rate and method of apportionment of the special tax set forth
in Exhibit "A" to be reasonable. The special tax is
apportioned to each parcel on the foregoing basis pursuant to
Section 53325.3 of the Act and such special tax is not on or
based upon the ownership of real property. In the event that a
portion of the property within Community Facilities District
No. 88-1 shall become for any reason exempt, wholly or
partially, from the levy of the special tax specified on
Exhibit "A", the City Council shall, on behalf of Community
Facilities District No. 88-1, cause the levy to be increased,
subject to the limitation of the Maximum Special Tax for a
parcel as set forth in Exhibit "A", to the extent necessary
upon the remaining property within Community Facilities
District No. 88-1 which is not delinquent or exempt in order to
yield the special tax revenues required for the purposes
described in this Section 6.
Section 7. The City Council finds that the proposed
Facilities are necessary to meet the increased demand put upon
the City and other local agencies in the area of the District
as a result of new development within Community Facilities
District No. 88-1.
Section 8. It is hereby further determined that there
is no ad valorem property tax currently being levied on
property within Community Facilities District No. 88-1 for the
exclusive purpose of paying the principal of or interest on
bonds or other indebtedness incurred to finance the
construction of capital facilities which provide the same
services to the territory of Community Facilities District No.
88-1 as are proposed to be provided by the Facilities.
1853n/2468/04 -4-
Resolution No. 88-122
Page 5
Section 9. Written protests against the establishment
of the District have not been filed by the property owners of
one-half (1/2) or more of the area of land within Community
Facilities District No. 88-1.
Section 10. The special tax proposed to be levied in
the District to pay for the proposed Facilities has not been
protested by the owners of one-half (1/2) or more of the area
of land within the District or by any registered voters.
Section 11. A special election is hereby called f6r
Community Facilities District No. 88-1 on the propositions of
levying the special tax on the property within Community
Facilities District No. 88-1 and establishing an appropriations
limit for the District pursuant to Section 53325.7 of the
Government Code and shall be consolidated with the election on
the proposition of incurring bonded indebtedness, pursuant to
Section 53351 of the Government Code. The proposed
propositions relative to incurring indebtedness in the maximum
aggregate principal amount of $45,000,000 and authorizing the
levy of the special tax are combined into one ballot
proposition, which shall be substantially in the form attached
hereto as Exhibit "B".
Section 12. The specSal election for Community
Facilities District No. 88-1 on the proposition of incurring
the bonded indebtedness, authorizing the levy of the special
tax and establishing an appropriations limit for the District
pursuant to Section 53325.7 of the Government Code shall be
held on November 1, 1988, subject to receipt by the City Clerk
of the unanimous consent of the landowners of record in the
District as of the close of the October 18, 1988 public hearing
to a waiver of the time limits for setting the election and a
waiver of any written analysis, arguments or rebuttals as set
forth in Sections 53326 and 53327 of the Government Code. If
such waivers and concurrence are not received on or prior to
October 31, 1988, the election shall be rescheduled to the
earliest possible date on which the landowners and the
City Clerk mutually agree.
Section 13. It is hereby found that there were fewer
than 12 registered voters within the territory of proposed
Community Facilities District No. 88-1 during each of the 90
days preceding the opening of the October 18, 1988 public
hearing regarding the formation of the District and, pursuant
to Section 53326 of the Government Code, the ballots for the
special election shall be distributed by personal service, or
by mail, with return postage prepaid, by the City Clerk to the
landowners of record within Community Facilities District No.
88-1 as of the close of the protest hearing. Each landowner
1853n/2468/04 -5-
Resolution No. 88-122
Page 6
shall have one vote for each acre or portion thereof that he or
she owns within Community Facilities District No. 88-1, as
provided in Section 53326 of the Government Code and may return
the ballot by mail or in person to the City Clerk not
later than 5:00 p.m. on November 1, 1988. Notwithstanding that
November 1, 1988 has been established as the election date, in
accordance with Sections 53326(d) and 53351(j) of the
Government Code, the election shall be closed and the results
certified by the City Clerk as soon as all qualified electors
have voted.
Section 14. Community Facilities District No. 88-1
shall constitute a single election precinct for the purpose of
holding the election.
Section 15. The preparation of the Report is hereby
ratified. The Report, as submitted, is hereby approved and is
made a part of the record of the public hearing regarding the
formation of Community Facilities District No. 88-1, and is
ordered to be kept on file with the transcript of these
proceedings and open for public inspection.
Section 16. Not later than fifteen (15) days
following the adoption of this resolution, the City Clerk shall
cause a Notice of Special Tax in the form required by Streets
and Highways Code Section 3114.5 to be recorded with the San
Diego County Recorder.
PASSED, ADOPTED AND APPROVED, by the City Council of
the City of Poway, California, at a regular meeting thereof this
18th day of October, 1988.
Robert C. Emery, M~
ATTEST:
MarjoriA K. Wahlsten
City Clerk
1853n/2468/04 -6-
Resolution No. 88-122
Page 7
STATE OF CALIFORNIA )
)
COUNTY OF SAN DIEGO )
ss.
I, Marjorie K. Wahlsten, City Clerk of the City of Poway, do
hereby certify under penalty of perjury that the foregoing
Resolution, No. 88- 122 , was duly adopted by the City Council at
a meeting of said City Council held on the 18th day of October,
1988, and that it was so adopted by the following vote:
AYES:
BRANNON, HIGGINSON , KRUSE, TARZY, EMERY
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE
Marjorie ~. Wahlsten, City Clerk
City of~P~way
Exhibit A
Resolution No. 88-122
Page 8
Community Facilities District No. 88-1
of the
City of Poway
(Parkway Business Centre)
for
Roadway Facilities
Engineer's Report
Mello-Roos Community Facilities Act of 1982
October, 1988
Prepared by
VTN SOUTHWEST, INC.
4845 Ronson Court
San Diego, CA 92111
(619) 292-1040
Resolution No. 88-122
Page 9
Community Facilities District No. 88-1
of the
City of Poway
(Parkway Business Centre)
for Roadway Facilities
Engineer's Report
Mello-Roos Community Facilities Act of 1982
TABT~ OF CONTENTS
I Introduction
II Legal Authority to Construct Facilities
III Description of Facilities
IV Boundaries of District
V Cost Estimate
VI Rate and Method of Apportionment
VII Certification
1
2
2
3
4
4
7
Exhibits
A Boundaries of District
Resolution No. 88-122
Page 10
COUNTY OF SAN DIEGO
CITY OF POWAY
Community Facilities District No. 88-1
of the City of Poway
(Parkway Business Centre)
for
Roadway Facilities
Engineer's Repokt
Mello Roos Community Facilities Act of 1982
I Introduction
WHEREAS, the City Council of the City of Poway (hereinafter
referred to as the "legislative body of the local agency") did,
pursuant to the provisions of the Mello Roos Community Facilities
Act of 1982, being Chapter 2.5, Park 1, Division 2, Title 5 of
the Government Code of the State of California, and specifically
Section 53321.5 thereof, expressly order the filing of a written
report with the local agency for a proposed Community Facilities
District which will provide roadway facilities and public
services for Parkway Business Centre referred to as:
Community Facilities District No. 88-1
(hereinafter referred to as the "District"); and
WHEREAS, said report should generally contain the following:
1) A description of the public capital facilities
services proposed for the District;
2)
and
A general description of the area to be served by said
facilities; said areas being the boundaries of the
District;
3)
A cost estimate, setting forth the costs and expenses
for providing the public facilities and services to the
properties within the boundaries of the District and
the costs of any incidental expenses to be paid by the
District;
4)
The rate and method of apportionment of the special tax
in sufficient detail to allow each landowner or
resident within the proposed District to estimate the
maximum tax to be levied on a parcel.
For particulars, reference is made to the Resolution of Intention
as previously approved and adopted by the City Council of Poway
by its Resolution No. 88-102.
Resolution No. 88-122
Page 1 1
NOW, THEREFORE, I, David B. Ragland, authorized representative
for VTN Southwest, Inc., the Engineer of Record, pursuant to the
provisions of the "Mello Roos Community Facilities Act of 1982",
being Chapter 2.4, 1, Division 2, Title 5 of the Government Code
of the State of California, do hereby submit the following data:
II Leqal Authority to Construct Facilities
The proposed improvements are facilities which the City of Poway
is authorized by law to construct, own or operate.
III Description of Facilities
A Community Facilities District may provide for the purchase,
construction, expansion or rehabilitation of any real or other
tangible property with an estimated useful life of five (5)
years or longer, and for certain services beyond those presently
available within the District, all of which are necessary to meet
increased demands placed upon local agencies as a result of
development occurring within the District. A general description
of the proposed facilities, acquisitions, improvements and public
services is as follows:
1) Constructed facilities and land acquisition including:
2)
ae
Portions of the South Poway Planned Community Circula-
tion System and the, City of Poway Circulation Element
Plan which includes project management, engineering,
plan checking, inspection, grading, paving, drainage,
water, sewer, utilities, traffic signals and other
appurtenant improvements.
bo
Design and construction of all other roads not identi-
fied in III.l.a within the Parkway Business Centre
including grading, pavement, curbs, gutters, sidewalks,
storm drains, sewer, water, utilities, lighting,
traffic signals and other appurtenant improvements.
c. Fire station and equipment.
Incidental expenses incurred with the formation of the
District and the financing of the facilities along with the
annual administrative costs of the District.
None of the facilities to be constructed with funds raised by the
District are complete as of the date of this report.
The Circulation Element Facilities are described in the report
entitled "South Poway Planned Community" however., they are
shown graphically on Exhibit "A". '
Resolution No. 88-122
Page 12
IV
Boundaries of District
ae
Description: The boundaries of the District are those
properties and parcels in which special taxes may be
levied in order to pay for the costs and expenses of
the facilities and services described in Section III
above. A general description of the boundaries of the
District is more particularly set forth on Exhibit "A",
the boundary map entitled "Communities Facilities
District No. 88-1" and described as follows:
LEGAL DESCRIPTION
Community Facilities District No. 88-1
THE SOUTH 1/2 OF THE NORTHEAST 1/4 AND THE NORTH 1/2 OF THE
SOUTHEAST 1/4 OF SEC. 24.T-14-S, R-2-W. LOTS 2 & 3 AND THE
SOUTHEAST 1/4 OF THE NORTHWEST 1/4 AND THE NORTHEAST 1/4 OF
THE SOUTHWEST 1/4. THE WEST 1/2 OF THE SOUTHEAST 1/4, THE
SOUTHWEST 1/4 OF THE NORTHEAST 1/4 AND THE EAST 1/2 OF THE
NORTHWEST 1/4 OF THE NORTHEAST 1/4 OF SEC. 19.T-14-S, R-1-W.
Contained within the District's boundaries are the following
County of San Diego Tax Assessor Parcels, based upon the 1987/88
tax rolls:
Parkway Business Centre
CFD
Total A.P. Acres
A.P. No. A.P. A___cres within CFD
323-090-12 86.84
323-090-17 58.17
323-090-43 14.02
323-090-44 35.48
323-091-02 40.00
323-091-03 78.91
317-280-02 40.00
317-280-05 80.00
317-480-09 11.82
317-480-10 27.57
317-280-03 40.00
317-280-10 40.00
317-280-11 40.00
317-480-07 30.70
317-480-08 7.67
Resolution No. 88-122
Page 13
V Cost Estimate
The total cost estimates for sections of the improvements
detailed in Section III shown on Exhibit "A" have been
developed by VTN Southwest, Inc.
The cost estimate for the works of improvement of the
District is set forth below along with the projected bond
financing costs. In the event that cost overruns or other
factors prohibit the construction or acquisition of all the
facilities included, the priority as to which ones are
funded from bond proceeds will be as follows: (1) Circula-
tion Element Road obligations; (2) studies and formation
costs; (3) all other road improvements within the Parkway
Business Centre, and (4) fire station and equipment.
PARKWAY BUSINESS CENTRE
CFD 88-1
FACILITIES AND FINANCING COSTS
SOUTH POWAY PLANNED COMMUNITY CIRCULATION SYSTEM
SOUTH POWAY PARKWAY
MIDLAND ROAD
KIRKHAMROAD
STOWE DRIVE
SUBTOTAL
OTHER PUBLIC ROADS AND APPURTENANCES
FIRE STATION AND EQUIPMENT
SUBTOTAL
TOTAL
PRELIMINARY SPPCCS FEASIBILITY STUDIES
CONTINGENCIES
ISSUANCE AND FORMATION (3%)
RESERVE FUND
CAPITALIZED INTEREST
DISCOUNT (2%)
SUBTOTAL
TOTAL BOND AU~"dORIZATION
15,857,000
5,661,000
1,295,000
3,417,000
$26,230,000
13,019,000
473,000
13,492,000
$39,722,000
125,000
3,972,000
1,192,000
4,000,000
9,657,000
1,173,000
16,022,000
$59,841,000
Resolution No. 88-122
Page 14
It should be noted that the cost estimates above also include
project management, design engineering, right of way engineering,
soils engineering and testing, plan checking, permits, fees,
advertisement, award costs and inspections. Included in the
formation costs are the estimated fees of the assessment
engineer, financial consultant, appraiser, real estate/economic
consultant and County administrative and engineering staff.
Included in the issuance costs are bond and official statement
printing, fiscal and paying agent and bond counsel.
The total cost estimate to provide the District's portion of
public'services is listed below. The actual level of funding for
these services from this District will be determined in the
future and is limited to the financial capacity of the District
provided by applying the allowable Maximum Special Tax minus the
then current total cost of the District's operation and debt
service.
VI Rate and Method of Apportionment
A Special Tax applicable to each Assessor's Parcel in
Community Facilities District No. 88-1 (herein "CFD No. 88-
1") shall be levied and collected according to the tax
liability determined by the City Council of the City of
Poway acting in its capacity as the legislative body of CFD
No. 88-1 (herein the "City Council") through the application
of the appropriate amount of rate for "Developed Property"
or "Undeveloped Property", as described below. All of the
property in CFD No. 88-1, unless exempted by law or by the
provisions of Section E below, shall be taxed for the
purposes, to the extent and in the manner herein provided.
A. Definitions
The terms hereinafter set forth have the following
meanings:
"Developed Property" means all Assessor's Parcels in
CFD No. 88-1 for which a final map has been recorded as
of March 1 of the preceding Fiscal Year; provided,
however, that Developed Property shall not include
property owned by or offered for dedication to a public
agency or owned by a public utility for use as an
unmanned facility, which property is subject Un-
developed Property only to the extent set forth in
Section E below.
Resolution No. 88-122
Page 1 5
"Fiscal Year" means the period starting on July 1 and
ending the following June 30.
"Maximum Special -Tax" means the maximum Special Tax
determined in accordance with Section C, that can be
levied by the City Council in any Fiscal Year fox each
class of Developed Property and for Undeveloped
Property, as applicable.
"Taxable Property" is all of the area within the
boundaries of CFD No. 88-1 which is not exempt from the
special Tax pursuant to law or Section E below.
"Undeveloped Property" means all Taxable Property in
CFD No. 88-1 not classified as Developed Property.
B. Assiqnment to Land Use Class
Co
De
On July 1 of each year, all Taxable Property within CFD
No. 88-1 shall be categorized either as a Developed
Property or an Undeveloped Property and shall be
subject to tax in accordance with the rate and method
of apportionment determined pursuant to Sections C and
D below.
Maximum Special Tax Rate
The Maximum Special Tax for an Assessor's Parcel
classified as Developed Property or as Undeveloped
Property shall be $15,000 per acre for Fiscal Year
1988-89 and shall increase by 2.0% in each subsequent
Fiscal Year. For purposes of this Section C, the
acreage of an Assessor's Parcel shall be determined by
reference to the most current parcel map or other
subdivision tract map recorded in the Office of the
County Recorder for San Diego County.
Method of ADportionment of the Special Tax to Developed
Property and Undeveloped Property
Starting in Fiscal Year 1988-89 and for each following
Fiscal Year, the City Council shall determine-the
amount of money to be collected from Taxable Property
in CFD No. 88-1 in that Fiscal Year. Such amount shall
include the sums necessary to pay for current debt
service on indebtedness of CFD No. 88-1, to create or
replenish reserve funds determined necessary by CFD No.
88-1 for existing or future indebtedness, and to pay
for administrative and construction expenses to be paid
from Special Tax proceeds. After taking into account
other available revenues, the City Council shall levy
6
Resolution No. 88-122
Page 16
the Special Tax as follows until the amount of the
levy equals the remaining amount to be collected:
First: The Special Tax shall be levied on Developed
Property in equal percentages up to 87% of the Maximum
Special Tax for such Fiscal Year;
Second: If additional moneys are needed after the
first step has been completed, the Special Tax shall be
levied proportionately on each parcel of Undeveloped
Property up to 87% of the Maximum Special Tax for such
Fiscal Year;
Third: If additional moneys are needed after the first
two steps have been completed, then the levy of the
Special Tax on Developed Property and Undeveloped
Property (exclusive of Undeveloped Property exempted
pursuant to Section E below) shall be increased in
equal percentages above the rates levied pursuant to
the first step above, up to the Maximum Special Tax for
such Fiscal Year;
Fourth: If additional moneys are needed after the
first three steps have been completed, then the Special
Tax shall be levied proportionately on each parcel of
Undeveloped Property offered for dedication to a public
agency which has not.been exempted from the Special Tax
pursuant to Section E, up to the Maximum Special Tax
for such Fiscal Year for such property; and
Fifth: If additional moneys are needed after the first
four steps have been completed, then the Special Tax
shall be levied proportionately on each parcel of
Undeveloped Property conveyed to a public agency which
has not been exempted from the Special Tax pursuant to
Section E, up to the Maximum Special Tax for such
Fiscal Year for such property.
Limitations
The City Council shall not impose any Special Tax on
property which is (i) owned by a public agency for
public right-of-way or is subject to a public easement
for a street or for another public use which prevents
any private beneficial use of such land or (ii) is
owned by a public utility for use as an unmanned
utility property or is subject to a utility easement
making impractical its utilization for other than the
purpose set forth in the easement.
In addition, the City Council shall not impose any
Special Tax on up to 200 acres of Undeveloped Property
Resolution No. 88-122
Page 1 7
conveyed or offered for dedication to a public agency
for public uses other than those described in (i)
above. If the total number~of acres of land conveyed
or offered for dedication to a public agency for such
other uses exceeds 200 acres, then the acres exceeding
such total of 200 shall be taxed as Undeveloped
Property to the extent set forth in steps four and five
in Section D above.
vii Certification
B~sed upon the information provided herein, it is my opinion
that the facilities and services described are necessary to
meet increased demands placed upon the local agency as a
result of development occurring within the boundaries of the
District and benefit the lands within said District.
Further, it is my opinion that the cost estimates, as set
forth above, are reasonable and that the rates and methods
of apportionment, as set forth above, are fair and equi-
table, uniformly applied and not discriminating or ar-
bitrary.
David B. RaglanS, Director of 'Engineering
VTN Southwest, Inc.
Resolution No. 88-122
Page 1 8
Resolution No. 88-.122
Page 19
EXHIBIT B
RATE AND METHOD OF APPORTIONMENT OF
SPECIAL TAX
FOR COMMUNITY FACILITIES DISTRICT NO. 88-1
OF THE CITY OF POWAY
(PARKWAY BUSINESS CENTER)
A Special Tax applicable to each Assessor's Parcel in
Community Facilities District No. 88-1 (herein "CFD No. 88-1")
shall be levied and collected according to the tax liability
determined by the City Council of the City of Poway acting in
its capacity as the legislative body of CFD No. 88-1 (herein
the "City Council") through the application of the appropriate
amount or rate for "Developed Property" or "Undeveloped
Property", as described below. All of the property in CFD No.
88-1, unless exempted by law or by the provisions of Section E
below, shall be taxed for the purposes, to the extent and in
the manner herein provided.
A. Definitions.
The terms hereinafter set forth have the following
meanings:
"Developed Property" means all Assessor's Parcels in
CFD No. 88-1 for which a final map has been recorded as of
March 1 of the preceding Fiscal Year; provided, however, that
Developed Property shall not include property owned by or
offered for dedication to a public agency or owned by a public
utility for use as an unmanned facility, which property is
subject to tax as Undeveloped Property only to the extent set
forth in Section E below.
"Fiscal Year" means the period starting on July 1 and
ending the following June 30.
"Maximum Special Tax" means the maximum Special Tax,
determined in accordance with Section C, that can be levied by
the City Council in any Fiscal Year for each class of Developed
Property and for Undeveloped Property, as applicable.
"Taxable Property" is all of the area within the
boundaries of CFD No. 88-1 which is not exempt from the Special
Tax pursuant to law or Section E below.
"Undeveloped Property" means all Taxable Property in
CFD No. 88-1 not classified as Developed Property.
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Resolu%ion No. 88-122
Page 20
B. Assignment to Land Use Class.
On July 1 of each year, all Taxable Property within
CFD No. 88-1 shall be categorized either as a Developed
Property or an Undeveloped Property and shall be subject to tax
in accordance with the rate and method of apportionment
determined pursuant to Sections C and D below.
C. Maximum Special Tax Rate.
The Maximum Special Tax for an Assessor's Parcel
classified as Developed Property or as Undeveloped Property
shall be $15,000 per acre for Fiscal Year 1988-89 and shall
increase by 2.0% in each subsequent Fiscal Year. For purposes
of this Section C, the acreage of an Assessor's Parcel shall be
determined by reference to the most current parcel map or other
subdivision tract map recorded in the Office of the County
Recorder for San Diego County or by another reliable means
established by the District.
D. Method of Apportionment of the Special Tax to
Developed Property and Undeveloped Property.
Starting in Fiscal Year 1988-89 and for each following
Fiscal Year, the City Council shall determine the amount of
money to be collected from Taxable Property in CFD No. 88-1 in
that Fiscal Year. Such amount shall include the sums necessary
to pay for current debt service on indebtedness of CFD No.
88-1, to create or replenish reserve funds determined necessary
by CFD No. 88-1 for existing or future indebtedness, and to pay
for administrative and construction expenses to be paid from
Special Tax proceeds. After taking into account other
available revenues, the City Council shall levy the Special Tax
as follows until the amount of the levy equals the remaining
amount to be collected:
First: The Special Tax shall be levied on Developed
Property in equal percentages up to 87% of the Maximum Special
Tax for such Fiscal Year;
Second: If additional moneys are needed after the
first step has been completed, the Special Tax shall be levied
proportionately on each parcel of Undeveloped Property
(exclusive of Undeveloped Property exempted pursuant to Section
E below) up to 87% of the Maximum Special Tax for such Fiscal
Year;
Third: If additional moneys are needed after the
first two steps have been completed, then the levy of the
Special Tax on Developed Property and Undeveloped Property
(exclusive of Undeveloped Property exempted pursuant to Section
1853n/2468/04
Resolution Nc). 88-122
Page 21
E below) shall be increased in equal percentages above the
rates levied pursuant to the first step above, up to the
Maximum Special Tax for such Fiscal Year;
Fourth: If additional moneys are needed after the
first three steps have been completed, then the Special Tax
shall be levied proportionately on each parcel of Undeveloped
Property offered for dedication to a public agency which has
not been exempted from the Special Tax pursuant to Section E,
up to the Maximum Special Tax for such Fiscal Year for such
property; and
Fifth: If additional moneys are needed after the
first four steps have been completed, then the Special Tax
shall be levied proportionately on each parcel of Undeveloped
Property conveyed to a public agency which has not been
exempted from the Special Tax pursuant to Section E, up to the
Maximum Special Tax for such Fiscal Year for such property.
E. Limitations.
The City Council shall not impose any Special Tax on
property which is (i) owned by a public agency for public
right-of-way or is subject to a public easement for a street or
for another public use which prevents any private beneficial
use of such land or (ii) is owned by a public utility for use
as an unmanned utility property or is subject to a utility
easement making impractical its utilization for other than the
purpose set forth in the easement.
In addition, the City Council shall not impose any
Special Tax on up to 200 acres of Undeveloped Property conveyed
or offered for dedication to a public agency for public uses
other than those described in (i) above. If the total number
of acres of land conveyed or offered for dedication to a public
agency for such other uses exceeds 200 acres, then the acres
exceeding such total of 200 shall be taxed as Undeveloped
Property to the extent set forth in steps four and five in
Section D above.
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Resolution No. 88-122
Page 22
EXHIBIT C
OFFICIAL BALLOT
COMMUNITY FACILITIES DISTRICT NO. 88-1
OF
THE CITY OF POWAY
(PARKWAY BUSINESS CENTER)
SPECIAL BOND AND SPECIAL TAX ELECTION
, 1988
This ballot represents
votes.
To vote, stamp a cross (+) in the voting square after
the word "YES" or after the word "NO". All marks otherwise
made are forbidden. All distinguishing marks are forbidden and
make the ballot void.
If you wrongly mark, tear, or deface this ballot,
return it to the CitY Clerk and obtain another.
PROPOSITION NO. A: Shall
Community Facilities District No. 88-1
of the City of Powa¥ (Parkway Business
Center) incur an indebtedness and
issue bonds in the maximum aggregate
principal amount of $45,000,000, with
interest at a rate or rates not to exceed
the greater of twelve percent (12%) per
annum or the maximum interest rate then
permitted by law, the proceeds of
which will be used to design, acquire,
construct, lease, modify or rehabilitate
certain public facilities, consisting
of roadway improvements, storm drains,
a fire station and equipment, sewer,
water and public utility improvements
(the "Facilities"), as provided in Reso-
lution No. 88- (the "Resolution of
Formation") of the City Council of the
City of Poway, and shall a special tax
with a rate and method of apportionment
as provided in the Resolution of Forma-
tion be levied to pay for the Facilities
described in the Resolution of Formation,
for the creation or replenishment of any
necessary reserve funds, for any
incidental expenses of the District
associated with the Facilities or the
bonds and for the principal of, premium,
if any, and interest on such bonds?
NO
YES
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Resolu%ion No. 88-122
Page 23
PROPOSITION NO. B: Shall
the appropriations limit, as defined
by subdivision (h) of Section 8 of
Article XIII B of the California Consti-
tution, for Community Facilities District
No. 88-1 of the City of Poway
(Parkway Business Center) be an amount
equal to $45,000,000?
YES
NO
1853n/2468/04