HomeMy WebLinkAboutCC Reso No 1989-65RESOLUTION NO. 89-65
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF LAKE ELSINORE DECLARING ITS INTENTION TO
ISSUE BONDS SECURED BY A SPECIAL TAX TO
FINANCE CERTAIN FACILITIES OF CITY OF LAKE
ELSINORE COMMUNITY FACILITIES DISTRICT NO.
88-3 (WEST LAKE ELSINORE)
WHEREAS, the City Council (the "City Council") of
the City of Lake Elsinore (the "City") has adopted a
resolution on November 14, 1989 wherein it declared its
intention to establish a community facilities district to
provide certain facilities (as defined in said resolution, and
herein the "Facilities") and to levy a special tax to pay for
the Facilities under and pursuant to the terms and provisions
of the "Mello-ROOS Community Facilities Act of 1982" (the
"Act"), being Chapter 2.5, Part 1, Division 2, Title 5 of the
Government Code of the State of California, such community
facilities district to be known and designated as "City of
Lake Elsinore Community Facilities District No. 88-3 (West
Lake Elsinore)" (the "Community Facilities District"); and
WHEREAS, it is the intention of the City Council to
finance all or a portion of the Facilities through the
issuance of bonds, the payment of interest on and principal of
which bonds will be secured by such special tax, all as
authorized pursuant to the Act;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL
OF THE CITY OF LAKE ELSINORE, AS FOLLOWS:
Section 1. All of the above recitals are true and
correct.
Section 2. The City Council hereby declares that
the public convenience and necessity require and it is
necessary that a bonded indebtedness be incurred to finance
all or a portion of.the Facilities for the Community
Facilities District.
Section 3. The purpose for the proposed bonded
indebtedness is generally described as follows:
The construction and/or acquisition of public
facilities providing service to the property
within the District and having an estimated useful
life of five years or longer including streets,
storm drains and channels, sanitary sewer
facilities, water system £acilities, fire
protection facilities and recreational facilities,
together with appurtenances and appurtenant work,
planning and design work directly related to the
facilities and all related incidental expenses, as
_authorized by the Community Facilities District
la*..r; mor~ spe~if:czlly 3escribed i.^. Exhibit B of
the City's resolution of intention to establish
the District, adopted on November 14, 1989.
,
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Section 4. The amount of the proposed bonded
indebtedness to be incurred to finance all or a portion of the
Facilities (including incidental expenses as authorized by the
Act) is hereby authorized in an amount not to exceed thirty
million dollars ($30,000,000).
Section 5. Notice is given that on the 26th day of
December, 1989, at the hour of 7:00 o'clock P.M., at the
regular meeting place of the City Council of the City, 545
Chaney Street, Lake Elsinore, California 92330, a public
hearing will be held on the intention of the City Council to
incur a bonded i:ndebtedness to finance all or a portion of the
Facili.ties in the Community Facilities District. At the
above-mentioned time and place for such public hearing, any
persons interested, including all taxpayers, property owners
and registered voters within the Community Facilities
District, may appear and be heard on the proposed debt issue
or on any other matters set forth herein, and they may present
any matters relating to the necessity for incurring such
bonded indebtedness to pay £or all or a portion of the
Facilities and to be secured by a special tax to be levied
within the Community Facilities District.
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2490m5
i.:<,~:..<
PASSED, APPROVED and ADOPTED this 14th day of
November, 1989.
AYES:
NOES:
ABSENT:
ABSTEP]TIONS:
COUNCILMEMBERS:
COUNCILMEMBERS:
COUNCILMEMBERS:
COUN(' I T,P~IEMBERS :
APPROVED AS TO FORM AND LEG~LITY:
JbHN R. HA'RPER, C TY ATTORNEY
CITY OF LAKE LSI ORE
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2490m5
BUCK, DOMINGUEZ, STARKEY, 4~A~F'RURN,
I~fINKLER
NONE
NONE
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) SS:
CITY OF LAKE ELSINORE )
- 2, Vicki Lynne Kasad, City Clerk of the City of Lake Elsinore,
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City Council of the City of Lake Elsinore at a regular meeting
of said Council on the 14th day of November, 1989, and that it
was so adopted by the following vote:
AYES: COUNCILMEMBERS: BUCK, DOMINGUEZ, STARKEY
WASHBURN, WINKLER
NOES: COUNCILMEMBERS: NONE
ABSENT: COUNCILMEMBERS: NONE
ABS'i'[~ZD"!: COUNCILMEMBERS: NONE
~
IC I LY N KAS , CITY CLERK
CITY OF LA ELSIN6RE
I (SEAL)
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) SS:
CITY OF LAKE ELSINORE )
I, Vicki Lynne Kasad, City Clerk of the City of Lake Elsinore,
DO HEREBY CERTIFY that the above and foregoing is a full, true and
correct copy of Resolution No. 89-65 of said Council, and that the
same has net been amended or repealed.
DATED: Decemnsr 19, 1989
;"' VICKI LYN A, C TY~ CLERK
CITY OF E Ei~SINORE
,
(SEAL)