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Res 90-089RESOLUTION NO. ~-089 RESOLUTION OF THE CITY COUNCIL OF CITY OF POWAY ESTABLISHING COMMUNITY FACILITIES DISTRICT NO. 90-1, AUTHORIZING THE LEVY OF A SPECIAL TAX WITHIN COMMUNITY FACILITIES DISTRICT NO. 90-1 AND CALLING AN ELECTION W~EREAS, the City Council of City of Poway (the "City Council") has heretofore adopted Resolution No. 90-076 stating its intention to form Community Facilities District No. 90-1 of City of Poway ("Community Facilities District No. 90-1" or the "District") pursuant to the Mello-Roos Community Facilities Act of 1982, as amended (the '°Act"); and WHEREAS, a copy of Resolution No. 90-076, setting forth a description of the proposed boundaries of Community Facilities District No. 90-1 by reference to a map, the facilities to be provided (the "Facilities"), the cost of providing such Facilities, 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 is incorporated herein by reference; and WHEREAS, notice was published as required by law relative to the intention of the City Council to form proposed Community Facilities District No. 90-1 to levy a special tax and to incur bonded indebtedness in the amount of $16,000,000 within the boundaries of proposed Community Facilities District NO. 90-1; and EXHIBIT 2 Resolution No. 90-089 Page 2 WHEREAS, on May 8, 1990, this Council held a noticed public hearing as required by law relative to the proposed formation of Community Facilities District No. 90-1, the levy of the special tax therein and the issuance of bonded indebtedness by the District; and WHEREAS, prior to the noticed public hearing there was filed with this Council a report (the "Report") containing a description of the Facilities necessary to meet the needs of the District and an estimate of the cost of such Facilities as required by Section 53321.5 of the Government Code; and WHEREAS, the Council has received the unanimous consent of the landowners of the District waiving any published and mailed notice of the time and date of the election set forth in the Government Code and Section 53326 of the Elections Code, the time limits for setting the election set forth in Section 53326 of the Government Code, and all matters relating to calling and holding of the election as set forth in Section 53327 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. 90-1, 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 the proposed special tax to be levied within the District was not precluded Resolution No. 90-089 Page 3 by majority protest, and this Council at the conclusion of the rearing 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; NOW, THEREFORE, the City Council of City of Poway DOES HEREBY RESOLVE, DETERMINE AND ORDER as follows: Section 1. Each of the above.recitals is true and correct. Section 2. A community facilities district to be designated "Community Facilities District No. 90-1 of the City of Poway (Tech Business Center)" is hereby established pursuant to the Act. The City Council hereby finds and determines that all prior proceedings taken with respect to the establishment 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 boundaries of Community Facilities District No. 90-1 are established as shown on the map designated "Boundaries of Community Facilities District No. 90-1", which map is on file in the office of the City Clerk and which map is recorded in the County of San Diego Book of Maps and Assessments and Community Facilities Districts in the County Recorder's Office, Book No. 24, Page No. 11. Resolution No. 90-089 Page 4 Section 4. The Facilities authorized to be provided for Community Facilities District No. 90-1 are to finance the costs of planning, designing, constructing, acquiring, modifying, improving or rehabilitating certain real and other tangible property with an estimated useful life of five years or longer, consisting of certain roadway and street improvements and water, sewer and drainage facilities (including reservoirs, pump stations and transmission lines), public trails, parks and fire fighting equipment, both on-site and off-site, necessary to be constructed to facilitate development within the District (the "Facilities"), all as described in Resolution No. 90-076 and the Report. The District is authorized either to construct or acquire the Facilities in accordance with the Act. Section 5. Except where funds are otherwise available, it is the intention of the City Council, subject to the approval of the landowners as the eligible voters of the District, to levy the proposed special tax at the rates set forth in Exhibit A hereto on all non-exempt property within the District sufficient to pay a portion of the cost of the acquisition, construction, modification or rehabilitation of the Facilities and to pay (i) the principal and interest and other periodic costs on the bonds proposed to be issued to finance the Facilities, including replenishment of a reserve fund and remarketing, credit enhancement and liquidity facility fees, (ii) the costs of forming the district and administering Resolution No. 90-089 Page $ the levy and collection of the special tax, and (iii) all other costs incidental to the special tax levy, the issuance of bonds for the Facilities or the planning, construction, completion and inspection of the Facilities, including, but not limited to the payment of "incidental expenses" of the District, as such term is defined in the Act and to repay funds advanced for the cost of the Facilities and incurred in creating the District. The District expects to incur, and in certain cases has already incurred, incidental expenses in connection with the planning and designing of the Facilities, the creation of the District, the issuance of bonds, the levying and collecting of the special tax, the completion and inspection of the Facilities and the annual administration of the bonds and the District. The rate and method of apportionment of the special tax is described in detail on Exhibit "A" attached hereto and incorporated herein by this reference, and the Council hereby finds that Exhibit "A" contains sufficient detail to allow each landowner or resident within the District to estimate the annual amount that he or she will have to pay. The special tax is based on the the cost of making the Facilities avaliable to each parcel of real property within Community Facilities District No. 90-1o The special tax is apportioned to each parcel on the foregoing bases pursuant to Section 53325.3 of the Government Code and such special tax is not on or based upon the ownership of real property. Resolution No. 90-089 Page 6 The Office of the San Diego County Tax Assessor, 1600 Pacific Highway, San Diego, California, telephone number (619) 236-3771, will be responsible for preparing, or authorizing a designee to prepare, the roll of special tax levy obligations by assessor's parcel number if and as such roll becomes necessary. Section 6. In the event that a portion of the property within Community Facilities District No. 90-1 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. 90-1, increase the levy to the extent necessary and permitted by law and these proceedings upon the remaining property within Community Facilities District No. 90-1 which is not delinquent or exempt in order to yield the required debt service payments on any outstanding bonds of the District or to prevent the District from defaulting on any of its other obligations or liabilities. The amount of the special tax will be set in accordance with the rate and method of apportionment of the special tax attached hereto as Exhibit A. Section 7. Upon recordation of a notice of special tax lien pursuant to Section 3114.5 of the Streets and Highways Code, a continuing lien to secure each levy of the special tax shall attach to all nonexempt real property in the District and this lien shall continue in force and effect until the special tax obligation is prepaid and permanently satisfied and the Resolution No. 90-089 Page 7 lien canceled in accordance with law or until collection of the tax by the City Council ceases. Section 8. The City Council finds that the proposed Facilities are necessary to meet the increased demand put upon the City of Poway as a result of new development projected within Community Facilities District No. 90-1. Section 9. It is hereby further determined that there is no ad valorem property tax currently being levied on property within proposed Community Facilities District No. 90-1 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. 90-1 as are proposed to be provided by the capital facilities to be financed and constructed by Community Facilities District No. 90-1. Section 10. 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. 90-1. There are fewer than twelve (12) registered voters within the territory of Community Facilities District No. 90-1. Section 11. 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 Community Facilities District No. 90-1. -7- Resolution No. 90-089 Page 8 Section 12. The Facilities, the bond payments and expenses and any necessary reserve funds, proposed to be funded with the special tax are described in Sections 4 and 5 of this resolution. Section 13. A special election is hereby called for Community Facilities District No. 90-1 on the propositions of levying the special tax on the property within Community Facilities District No. 90-1 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 principal aggregate amount of $16,000,000, authorizing the~levy of the special tax, which are combined into one ballot proposition and the proposition establishing an appropriations limit, are attached hereto as Exhibit "B". Section 14. The date of the special election for Community Facilities District No. 90-1 on the proposition of incurring the bonded indebtedness, authorizing the levy of the special tax and establishing an appropriations limit for the District shall be 0n the 22nd day of May, 1990. The City Clerk of the City of Poway is authorized and directed to conduct the election. Section 15. It is hereby found that there are fewer than 12 registered voters within the territory of proposed Community Facilities District No. 90-1 and have been fewer than Resolution No. 90-089 Page 9 12 registered voters in the District during the 90 days ~receding the protest hearing held by this Council, and, pursuant to Section 53326 of the Government Code, each landowner who is the owner of record on the date hereof or the authorized representative thereof shall have one vote for each acre or portion thereof that he or she owns within Community Facilities District No. 90-1. Section 16. Community Facilities District No. 90-1 shall constitute a single election precinct for the purpose of holding the election. The polling place shall be at the office of the City Clerk of the City of Poway. The polls shall be open from 8:00 a.m. to 5:00 p.m. or until all the ballots are cast, at which time the polls shall close. Immediately upon the conclusion of the election, the City Clerk shall count the returns and certify the results of the election. Section 17. 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. 90-1, and is ordered to be kept on file with the transcript of these proceedings and open for public inspection. ADOPTED, SIGNED AND APPROVED this 8th day of May, 1990. ATTEST: City Cl~rk of the City of Powa~ CITY COUNCIL OF THE CITY OF POWAY Mayor, Don Higg~on Resolution No~ 90- 089 Page 10 STATE OF CALIFORNIA ) ) SS. COUNTY OF SAN DIEGO ) i,Marjorie Wahlsten , City Clerk of the City of Poway, do hereby cert--~ ~-~-~ the foregoing Resolution was duly adopted by the City Council of said City at a meeting of said City Council held on the 8th day of MaN , 1990, and that it was so adopted by the following vote: AYES: BRANNON, EMERY, GOLDSMITH, KRUSE, HIGGINSON NONE NOES: NONE ABSTAIN: NONE ABSENT: N0N E City Clekk of the City of Poway Resolution No. 90- 089 Page 11 RATE AND METHOD OF APPORTIONMENT OF SPECIAL TAX FOR COMMUNITY FACILITIES DISTRICT NO. 90-1 OF THE CITY OF POWAY (TECH BUSINESS CENTER) A Special Tax applicable to each Assessor's Parcel in Community Facilities District No. 90-1 (herein "CFD No. 90-1") 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. 90-1 (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. 90-1, 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. 90-1 for which a final subdivision map has been recorded as of March 1 of the preceding Fiscal Year; provided, however, that Developed Property shall not include property owned by~a public agency and used for public right-of-way or open space or property offered for dedication to a public agency and being used by a public agency for public right-of-way or open space, or which is encumbered with public open space, street, roadway or utility easements and is being used exclusively for the purpose of such easement, which property is subject to tax as Undeveloped Property only to the extent set forth in Section D 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. "Special Tax" means the Special Tax for each Land Use Class determined in accordance with Section C below, that can be levied by the City Council. EXHIBIT Resolution No. 90- 089 Page 12 "Taxable Property" is all of the area within the boundaries of CFD No. 90-1 which is not exempt from the Special Tax pursuant to law or Section E below. "Undeveloped Property" means all Taxable Property in CFD No. 90-1 not classified as Developed Property. B. Assignment to Land Use Class. (1) A parcel shall be classified as a Developed Property for a Fiscal Year if a subdivision map has been recorded with respect to that parcel in the Office of the County Recorder for San Diego County as of the preceding March 1. (2) Ail Taxable Property not classified as Developed Property for a Fiscal Year shall be classified as Undeveloped Property. C. Maximum Special Tax Rate. The Maximum Special Tax for Fiscal Year 1990-91 shall be $15,000.00 per acre for an Assessor's Parcel classified as Developed Property and $12,400.00 per acre for an Assessor's Parcel classified as Undeveloped Property, and such Maximum Special Tax shall increase compounded annually in each subsequent Fiscal Year by 2.0%. For purposes of this Section C, the acreage of an Assessor's Parcel shall be determined by reference to the most current subdivision 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 1990-91 and for each following Fiscal Year, the City Council shall determine the amount of money to be collected from Taxable Property in CFD No. 90-1 in that Fiscal Year. Such amount shall include the sums necessary to pay for debt service on indebtedness of CFD No. 90-1, to create or replenish reserve funds determined necessary by CFD No. 90-1 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 amount to be collected: First: The Special Tax shall be levied proportionately on each parcel of Developed Property in equal percentages up to 87% of the Maximum Special Tax for such Fiscal Year; Resolution No. 90- 089 Page 13 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 E below) shall be increased in equal percentages above the rates levied pursuant to the first and second steps 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 privately owned parcel of Undeveloped Property which is encumbered by an easement to a public utility and which is used exclusively for the purpose of such easement and which has not been exempted from the Special Tax pursuant to Section E, up to the Maximum 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 privately owned parcel. of Undeveloped Property dedicated to a public agency for use as a public right of way or open space 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 Sixth: If additional moneys are needed after the first five steps have been completed, then the Special Tax shall be levied proportionately on each parcel of Undeveloped Property owned by 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 up to 40 acres of property which is (1) owned by a public agency, or (2) is privately owned property which has been dedicated to a public agency for use as public right-of-way or open space, following the acceptance of such dedication by the public agency, or (3) is privately owned property which has been dedicated to a public utility for exclusive use by the public utility for unmanned facilities. Resolution No. 90- 089 Page 14 If the total number of acres of land conveyed or offered for dedication to a public agency or a public utility exceeds 40 acres, then the exempt acres shall be determined in the priority listed in (1), (2) and (3) of the preceding paragraph, with the property within each category receiving priority based on the date that it entered such category. The acres exceeding such total of 40 shall be taxed as Undeveloped Property to the extent set forth in steps four, five and six in Section D above. Resolution No. 90- 089 Page 15 OFFICIAL BALLOT COMMUNITY FACILITIES DISTRICT NO. OF CITY OF POWAY SPECIAL BOND, SPECIAL TAX AND SPECIAL APPROPRIATIONS ELECTION May 22, 1990 90-1 You are entitled to cast 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. 90-1 of the City of Poway (the "District") incur an indebtedness and issue bonds in the maximum aggregate principal amount of $16,000,000, ~ith interest at a rate or rates not to exceed the maximum interest rate permitted by law, the proceeds of which will be used to finance the costs of planning, designing, constructinG, acquiring, modifying, improving or rehabilitating certain real and other tangible property with an estimated useful life of five years or longer, consisting of certain roadway and street improvements and water, sewer and drainage facilities (including reservoirs, pump stations and transmission lines), public trails, parks and fire fighting equipment, both on-site and off-site, necessary to be constructed to facilitate development within the District (the "Facilities"), as provided in Resolution No. 90-076 of the City Council of the City of Poway adopted on April 3, 1990, and shall a special tax with a rate and method of apportionment as provided in in the Resolution of the City Council of the City of Poway establishing the YES NO EXHIBIT B Resolution No. 90- 089 Page 16 District, adopted on May 8, 1990 be levied to pay for the Facilities, for the creation or replenishment of any necessary reserve funds, for any incidental expenses of the District, any expenses associated with the Facilities or the bonds, and for the payment of the principal of and interest on such bonds? PROPOSITION NO. B: For each year commencing with fiscal year 1990/91, shall the appropriations limit, as defined by subdivision (h) of Section 8 of Article XIII B of the California Constitution, for Community Facilities District No. 90-1 be an amount equal to $16,000,000.007 YES NO