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CC Reso No 1989-76
RESOLUTION NO. A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE ESTABLISHING COMMUNITY FACILITIES DISTRICT NO. 88 -3 (WEST LAKE ELSINORE), PROVIDING FOR A SPECIAL TAX TO PAY FOR CERTAIN PUBLIC FACILITIES WITHIN SUCH COMMUNITY FACILITIES DISTRICT AND CALLING A SPECIAL ELECTION TO SUBMIT TO THE QUALIFIED ELECTORS WITHIN SUCH COMMUNITY FACILITIES DISTRICT THE QUESTION OF LEVYING SUCH SPECIAL TAX WHEREAS, the City Council (the 'City Council ") the City of Lake Elsinore ('the City ") has heretofore on November 14, 1989, duly adopted Resolution No. 89 -64 declaring its intention to establish a community facilities district 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, and calling a public hearing on the question of the establishment of such community facilities district, which such community facilities district was designated as "City of Lake Elsinore Community Facilities District No. 88 -3 (West Lake Elsinore)' (the "Community Facilities District*); and WHEREAS, prior to the time for such hearing, in accordance with said Resolution No. 89 -64, a report on such proposal prepared by, or at the request of, the Special Projects Engineer of the City entitled "Public Report for Community Facilities District No. 88 -3 (West Lake Elsinore) for the City of Lake Elsinore' and dated December 21, 1989 (the "Public Report"), was filed with the City Council of City, and such report is incorporated herein and made a part of the record of the hearing on said Resolution No. 89 -64; and WHEREAS, pursuant to said Resolution No. 89 -64, a public hearing was convened by the City Council of the City on December 26, 1989, at the hour of 7:00 o'clock p.m., or as soon thereafter as the matter could be heard, at the regular meeting place of the City Council, 545 Chaney Street, Lake I Elsinore, California 92330, at which hearing the City Council considered the establishment of the Community Facilities District, the proposed rate and method of apportionment of a special tax therein, the proposed appropriations limit therefor and all other matters as set forth in said Resolution No. 89 -64, and at the above - mentioned time and place for such public hearing, all persons interested, including all taxpayers, property owners and registered voters within the Community Facilities District, were given an opportunity to appear and be heard, and the testimony of all interested persons or taxpayers for or against the establishment of the Community Facilities District and the levy of such special tax, or the extent of the Community Facilities District, or the funding, financing, acquisition and /or construction of public infrastructure facilities, including streets, drainage, sewer and water improvements, fire protection and park facilities, together with necessary appurtenances thereto and site and right -of -way acquisition (the *Facilities*), or the establishment of an appropriations limit therefor, or any other matters set forth in said Resolution No. 89 -64, was heard and considered, and -the City Council at the conclusion of said hearing was fully advised in the premises, and was authorized to proceed as hereinafter provided; and WHEREAS, on the basis of all of the foregoing, the City Council has determined at this time to proceed with the establishment of the Community Facilities District as provided by said Resolution No. 89 -64 and to submit to the qualified electors of the Community Facilities District the proposition in substantially the form attached hereto as Exhibit A, in a duly called election, to authorize the levy of a special tax pursuant to the Rate and Method of Apportionment of Special Tax as set forth in Exhibit C, attached hereto and incorporated herein and made a part hereof, to pay for the funding, financing, acquisition, construction, expansion and rehabilitation of the Facilities proposed to be provided for 2628mS 2 the Community Facilities District as described in Exhibit B to Resolution No. 89 -64; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE, AS FOLLOWS: Section i. All of the above recitals are true and correct. Section 2. The City Council hereby approves and adopts said Resolution No. 89 -64, including the description of Facilities and the Rate and Method of Apportionment of Special Tax and of the manner of collection of the special tax attached thereto as Exhibits B and C, respectively, which was published p{ior to the public hearing as required by law, and reconfirms all of its findings and determinations contained therein, and the special tax in and for the Community Facilities District shall be as set forth in said Resolution No. 89 -64 and in Exhibit A, attached hereto and incorporated herein and made a part hereof. Section 3. The City Council finds and determines that written protests to the establishment of the Community Facilities District, or the extent thereof, or the funding, financing, acquisition, construction, expansion and rehabilitation of the Facilities, or the levy of the special tax proposed to be levied in the Community Facilities District, are insufficient in number and in amount under the ,Act, and the City Council hereby further orders and determines that all protests to the establishment of the Community Facilities District, or the extent thereof, or the funding, financing, acquisition, construction, expansion and rehabilitation of the Facilities, or the establishment of an appropriations limit, or the levy of the special tax proposed to be levied in the Community Facilities District, are hereby overruled and denied. l Section 4. Consistent with Section 53325.6 of the Act, the City Council finds and determines that the land within the Community Facilities District, if any, devoted 2628m5 3 primarily to agricultural, timber or livestock uses and being used for the commercial production of agricultural, timber or livestock products will be benefited by the Facilities proposed to be provided within the Community Facilities District. Section S. The City Council finds and determines that all prior proceedings had and taken by the City Council with respect to the formation of the Community Facilities District are valid and in conformity with the requirements of the Act, and the City Council determines to proceed to establish the Community Facilities District. Accordingly, the City Council finds, determines and orders that, consistent with said Resolution No. 89 -64, the Community Facilities District is hereby formed under and pursuant to the terms and provisions of the Act, the boundaries of which are as set forth on a map thereof filed with the City Clerk and in the Office of the County Recorder of the County of Riverside pursuant to Section 3 of Resolution No. 89 -64. _ Section S. A general description of the Facilities which the City Council is authorized by law to fund, finance, acquire, construct, expand and rehabilitate within the Community Facilities District, which are the Facilities to be funded, financed, acquired, constructed, expanded and rehabilitated by the Community Facilities District under the Act in these proceedings, is set forth in Exhibit a to Resolution No. 89 -64, and the City Council hereby finds and determines that such Facilities are necessary to meet present or increased demand placed upon the City as a result of existing or projected development within the Community Facilities District. Section 7. The office which will be responsible for preparing annually a current roll of special tax levy obligations by assessor's parcel number and which will be responsible for estimating future special tax levies pursuant to Section 53340.1 of the Act is the Office of the Director of 2628m5 4 Finance of the City, which is further directed to establish procedures to promptly respond to inquiries concerning current and future tax liability. section a. Except where funds are otherwise available, a special tax sufficient to pay for all the Facilities, secured by recordation of a continuing lien against all non - exempt real property in the Community Facilities District, including the payment of interest on and principal of bonds proposed to be issued to finance the Facilities and including the repayment of funds advanced to or on behalf of the Community Facilities District, annual administrat }on expenses of the City and the Community Facilities District in determining, apportioning, levying and collecting such taxes, will be levied annually within the boundaries of the Community Facilities District. For particulars as to the Rate and Method of Apportionment of the Special Tax and the manner of collection of the special tax, reference is made to Exhibit C hereto which sets forth the rate and method of apportionment and the manner of collection of such special tax in sufficient detail to allow each landowner or resident within the Community Facilities District to estimate the maximum amount that such person will have to pay for the Facilities. Section 9. 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 non- ezempt real 'property in the Community Facilities District and this lien shall continue in force and effect until the special tax obligation is cancelled in accordance with law or until collection of the tax.by the City Council ceases in accordance with the Rate and Method of Apportionment of such special tax. Section 10. pursuant to Section 3111 of the Streets and Highways Code, the boundary map of the Community Facilities District has been recorded in Hook 28, page 57 -63, 2628m5 5 in the Book of Maps of Assessment Districts and Community Facilities Districts in the County Recorder's Office of the County of Riverside. Section 11. Since there are fewer than 12 registered voters within the Community Facilities District, the levy of the special tax and the establishment of the appropriations limitation shall be submitted to the landowners, as the qualified electors of the Community Facilities District, with each acre or portion thereof within an ownership representing one (1) vote. The requirements of Section 53326 of the Act pertaining to the shortening of time and the requirement for notice having been waived by each landowner, the ballots for the special election shall be distributed by personal or mailed delivery to each of the landowners within the Community Facilities District. Each landowner shall have one vote for each acre or portion thereof that he, she or it owns within the Community Facilities District, as provided in Section 53326 of the Act. Section 12. The City Clerk shall provide certified copies of this resolution, a description and map of the Community Facilities District of sufficient scale and clarity to show the boundaries thereof and the Assessor's parcel numbers for the land therein to the official conducting the election within three business days after the adoption of this resolution. Section 13. The City Clerk of the City is hereby designated as the election official for the purposes of conducting the election in the Community Facilities District and is hereby requested to take all steps necessary to hold the election in accordance with the Act and these specifications. Section la. The City Council hereby submits the question of levying such special tax and the establishment of an appropriations limit in the amount of $3,000,000 per fiscal year in connection therewith for the Community Facilities 2628m5 6 I District to the qualified electors within the Community Facilities District, at an election to be held on Wednesday, June 13, 1990, all in accordance with and subject to the Act, all the terms of which shall be applicable to such election. Section 15. The City Council hereby further directs that the election at which the question of levying such special tax and the establishment of an appropriations limit in the amount of $3,000,000 per fiscal year in connection therewith is submitted to the qualified electors within the Community Facilities District shall be consolidated with the election at which the question of incurring a bonded indebtednesq in an amount not to exceed thirty million dollars ($30,000,000) for the Community Facilities District is submitted to the qualified electors within the Community Facilities District, and the question of levying such special tax shall be combined in one ballot proposition with the question of incurring such bonded indebtedness and the question of establishing an appropriations limit for the Community Facilities District, all as provided by the Act; and the City Council further directs that the resolution adopted by the City Council declaring the necessity to incur such bonded indebtedness shall constitute the notice of the consolidated election on the combined proposition of authorizing the levy of such special tax, of establishing an appropriations limit and of incurring such bonded indebtedness. Section 16. The City Clark as the election official is authorized to canvass the returns of the election pursuant to Section 23306 of the Elections Code, and the City Council is thereafter authorized to certify the results of the election at the next regular meeting. Section 17. I! two - thirds (2/3) of the votes cast upon the question of levying such special tax are cast in favor of levying that tax, as determined by the City Council after the canvass Of the returns of such consolidated ' election, the City Council may levy such special tax within 2628m5 7 the territory of the Community Facilities District under the Act in the amount and for the purposes as specified in this resolution. Such special tax may be levied only at the rate and may be apportioned only in the manner specified in this resolution, subject to the Act, except that such special tax may be levied at a rate lower than that specified herein. Such special tax may be levied only so long as it is needed to pay for the funding, financing, acquisition and construction of the Facilities referred to in Section 6 of this resolution, or so long as it is needed to pay the principal of and interest on the bonded indebtedness, together with administrative expenses and other expenses of the Community Facilities District, incurred by the City and the Community Facilities District. 2628m5 8 PASSED, APPROVED and ADOPTED this 13th day of March, 1990. AYES: COUNCILMEMBERS: BUCK, DOMINGUEZ, STARKEY, WASHBURN, WINKLER NOES: COUNCILMEMBERS: NONE ABSENT: COUNCILMEMBERS: NONE ABSTENTIONS: COUNCILMEMBERS: NONE �/t/'_�,I / JIM'WINKLER, MAYOR A ST: CKI LYNNE 0 KAM, CITY CLERK APPROVED AS TO FORM AND LEGALITY: JOHN , 2 ATTORNEY 2628mS 9 EXHIBIT A PROPOSITION XXX: Shall City of Lake Elsinore Community Facilities District No. 88 -3 (West Lake Elsinore) be authorized to finance all or a portion of the acquisition and construction of public infrastructure facilities, including streets, drainage, sewer and water improvements, fire protection and park facilities, together with necessary appurtenances thereto and site and right -of -way acquisition, by incurring a bonded indebtedness in the principal amount of $30,000,000 and shall an appropriations limit in the amount of $3,000,000 per fiscal year in connection therewith be established for the Community Facilities District, and shall a special tax with a maximum rate and method of apportionment as provided in Exhibit C to Resolution No. 89 -64 adopted by the City Council of the City of Lake Elsinore on November 14, 1989, which is incorporated by reference herein, be levied to pay for such public facilities, including the payment of current and future principal of and interest on such bonds and the annual administration expenses of the City and the Community Facilities District in determining, apportioning, levying and collecting the special tax, and including the repayment of funds advanced to or on behalf of the Community Facilities District? 1 -�/ I 11 C COMMUNITY FACILITIES DISTRICT REPORT CONNQNITY 1ACILITIE8 DISTRICT NO. 88 -3 (rte i l. CITY OF LAZE ELSINORE •EST LXXX ELSINORE INFRASTRUCTURE PACILITIEB HELLO -BOOS COMKUNITY FACILITIES ACT f OF 1982 t t j CENTES CONBORTIUN - APPLICANT uooss•sysv -trrt A J",-, �RMG /THE KEITH COMPANIES Planning • Civil Enpmming. Eminmmerimi Senxev. UndvaNMahualure • Lwd.surveving • Puhlu %or A. December 21, 1989 tr r City Council 1� City of Lake Elsinore City Hall 130 S. Main Street Lake Elsinore, CA. 92330 c/o Ron Molendyk City Manager SUBJECT: Community Facilities District No. 88 -3 - West Lake Elsinore Infrastructure Facilities �• Gentlemen: I Transmitted herewith is the Community Facility District Report for Community Facilities District No. 88 -3 - West Lake Elsinore Infrastructure Facilities. In preparing this report, we have responded to the request of the applicant by setting forth those facilities and the cost thereof requested to be financed by the Community Facilities District process. �• The development plan for the facilities proposed have not received final approval from the City staff members, however, the entire facilities plan has been given tentative approval in order to undertake the subject Community Facilities District. It is (y suggested, therefore, that the approval of the development plans, and the establishment of requirements, therefore, should be an L appropriate prerequisite to the final approval of the proposed Community Facilities District. In preparing this report, we have retained the services of independent firms and consultants to establish the required criteria as follows, and these firms or Consultants have been approved by the City staff. 1 1. Engineers Report - Milo K. Keith, Consulting Engineer (Special Project Engineer City of Lake Elsinore). 2. Bond Council - George W. McFarlin, Attorney, Orrick, Harrington and Sutcliffe. uooss•ww•rrdl 1�i(A*I... In nl.. "i l.4 11 -M�1 -1 FIX r I.Ii*j -liy i� i.' rrr - 1_ { 1 :. l R I . 1 -/ City Council December 21, 1989 Page Two 3. Special Tax Apportionment - David Taussig, David Taussig and Associates, Inc. Vary truly yours, T10E S n rail Project Manager UMS- 9M -o-atic 0 1F4 f. I" i t A l I_ t1 1 -/ COMMUNITY FACILITIES DISTRICT NO. 88 -3 CITY OF LAKE ELSINORE WEST LAKE ELSINORE INFRASTRUCTURE FACILITIES (CENTEX CONSORTIUM APPLICANT) (APPLICANT) JAMES WINKLER Mayor Fred Dominguez (Mayor Pro -tam) William S. Buck William A. Starkey Gary M. Washburn Councilmembers CITY STAFF Ron Molendyk - City Manager John R. Harper - City Attorney , Vicki Lynne Kasad - City Clerk Ron Kirchner - Director of Public Services PROFESSIONAL SERVICES George W. McFarlin - Orrick, Harrington i Sutcliffe - Bond Council John Mandrell - RMG /The Keith Companies - Project Manager David Taussig - David Taussig i Assoc. - Special Tax Consultant Milo K. Keith - Consulting Engineer - Assessment Engineer Vic Dhooge - Miller and Schroeder - Underwriters Rwns•ovw•tr�rt DECEMBER 1989 .- 1 -� 1 r. SECTION I. - INTRODUCTION WHEREAS, the CITY OF COUNCIL of the CITY OF LAKE ELSINORE, CALIFORNIA (hereinafter referred to as the "legislative body of f. the local Agency" or "Agency "), did, pursuant to the provisions of the Mello -Roos Community Facilities Act of 1982, being Chapter 2.5, Part 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 Community Facilities District Report ( "Report ") with the Agency for a proposed Community Facilities District. This Community Facilities District shall be referred to as COMMUNITY FACILITIES DISTRICT NO. 88 -3 (hereinafter referred to as the (CFD - No. 88 -3); and WHEREAS, the Resolution ordering the Report did direct that the Report generally contain the following: a. a description of the public capital facilities and /or services, if applicable, proposed for the project; b. a general description of the area to be served by the facilities- -said areas being the boundaries of CFD No. 88 -3. r c. a cost estimate, setting forth the costs and expenses- for providing the public facilities to serve and benefit the properties and residents within the 1 boundaries of the CFD No. 88 -3. d. the rate and method of apportionment of the special tax in sufficient detail to allow each landowner or 1_ resident within the proposed District to estimate the annual amount of payment; and e. general terms and conditions relating to the proceedings. For particulars, reference is made to the Resolution of Intention and Resolution ordering the Report as previously approved and adopted. (� Now, therefore I, Milo E. Keith, P.E., authorized Special `.� Projects Engineer for the City of Lake Elsinore, and appointed responsible representative to prepare the report pursuant to the provision of the Mello -Roos Community Facilities Act of 1982, being Chapter 2.5, Part 1, Division 2, Title 5 of the Government Code of the State of California, do hereby submit the following data: -1- r 'l I. L is t J_/ SECTION II. - DESCRIPTION OF FACILITIES A Community, Facilities District may finance the purchase, construction,. expansion or rehabilitation of any real or other tangible property with an estimated useful life of five years or longer. A general description of the proposed facilities follows: Grading and construction of streets, curbs, gutters, sidewalks, street lighting, storm drainage, water, sewer, and utility improvements (both on and off -site) to serve the development to be constructed, together with appurtenances and appurtenant work. Also included are firestation and park facilities as required by the City of Lake Elsinore. Based upon the above, it is my opinion that the facilities are those that are necessary to meet increased demands placed upon the local Agency as a result of development occurring within the boundaries of CFO No. 88 -3. Special Project Engineer City of Lake Elsinore dO Milo E. Keith SECTION III. - BOUNDARIES OF COMMUNITY FACILITIES DISTRICT NO. 88 -3 The boundaries of CFD No. 88 -3 are those properties and parcels where services are authorized to be provided and in which special taxes may be levied to pay for the costs and expenses of the facilities. The boundaries of CFD No. 88 -3 are shown in the Boundary Map attached as Exhibit A. SECTION IV. - COST ESTIMATE The cost estimate for the Works of Improvement for CFD No. 88 -3 is based upon current dollars and is subject to escalation. Project facilities, including expenses, is estimated to be $29,263,295.00_based upon current dollars, subject to escalation. For further particulars, reference is made to Exhibit 8, cost Estimates. -2- a. 1� t SECTION V. - RATE AND METHOD OF APPORTIONMENT OF SPECIAL TAX As noted in the Resolution of Intention, all of the property located within CFD No. 88 -3, unless exempted by law, shall be taxed for the purpose of providing roadway, sewer, flood control and school facilities to serve the District. Pursuant to Section 53325.3 of the Act, the tax imposed "is a special tax and not a special assessment, and there is no requirement that the tax be apportioned on the basis of benefit to any property ". However, this special tax "may be based on benefit received by parcels of real property, the cost of making facilities or authorized services available to each parcel or other reasonable basis as determined by the legislative body". The adopted "Rate and Method of Apportionment of Special Tax" which is printed below (Exhibit C), provides information _ sufficient to allow each property owner within each Special Tax Area of CFD No. 88 -3 to estimate the maximum annual amount he will be required to pay under the Mello -Roos Program. This "Rate and Method of Apportionment" was adopted by the legislative body on November 14, 1989, as Exhibit C of the Resolution of Intention. LSections A - D, below, provide additional information on the special tax rata and method of apportionment. A. ' When a Mello -Roos Community Facilities District (CFD) 1 is formed, a special tax may be levied on each parcel of taxable property within the CFD to repay bonded indebtedness or other expenses incurred by the CFD. 1 This special tax must be apportioned in a reasonable manner; however, the tax may not be allocated on an ad valorem basis. ` When more than one type of land -use is present within a CFD, several criteria may be considered when apportioning the special tax. Generally, criteria ' based on building square footage, lot size, density and /or land -use are selected, and categories based on such criteria are established to differentiate between ( parcels of property. Those categories are a direct l result of the Developer's product mix, and are reflective of the land -use types within the CFD. Special special tax levels are assigned to each category, with all parcels within a category paying the same special tax. The Mello -Roos Community Facilities Act does not require that special taxes be apportioned to individual parcels based upon benefit. However, in order to insure fairness and equity, benefit princi ?lss are -3- 1� 1 Ctaken into account when setting special tax rates. The major underlying assumption inherent in the application of different special tax rates for different residential unit types within CFD No. 88 -3 was that the level of benefit received from the CFD - financed public improvements by a parcel vrries directly with that unit's size and type. Thi.�; assumption is borne out through an examination of cc-xonly accepted statistical measures of public facility wage. For example, in measuring average weekday vehicle trip - ends, the 1989 edition of Trio Generation by the j Institute of Transportation Engineers singles out size LL of residential unit as the primary determinant of-trip- and magnitude. Trip -ends per residential dwelling unit are typically highest for large single family detached (SFD) homes and become progressively lower for smaller SFD homes, townhouse, condominiums and apartments, ? respectively. Furthermore, 1980 Census data for Los Il Angeles County indicates that the number of persons residing in a housing unit also increases with the size of that unit. Logically, households with greater C numbers of residents will generally use local public improvements and facilities more than households with fewer residents. Drainage requirements are higher for larger residential uses due to the fact that larger units have a higher percentage of impervious ground cover than smaller units. ` Residential water and sewer requirements are based primarily on the number of bathrooms and fixture units in the home and the population of the household. Both criteria tend to vary directly with the size of the C dwelling unit. Water requirements for lawn sprinklers and swimming pools also tend to vary directly with home size. 1 The relationship of the special tax rates for the ( residential categories designated in the "Rate and Method of Apportionment* for CFD No. 88 -3 can be expressed in terms of Equivalent Dwelling Units (EDUs). For example, if the EDU assigned to a category is fifty percent higher than that assigned to a second category, than the special tax levied on a dwelling unit in the former category would be fifty percent higher than that levied on homes in the latter category (e.g., 1.50 EDUs versus 1.0 EDUs). -4- J / The EDUs assigned to different residential categories are based on the projected square footage within each category, as size was shown to generally reflect the benefits received. A sufficient number of categories were selected to establish equity between categories by insuring that the same special tax would be levied on 1 homes of similar size. Exhibit D illustrates the direct correlation between the projected square r footages of the residential categories in the "Rate and 11 Method of Apportionment* (Exhibit C) for CFD No. 88 -3 and the EDUs assigned to these categories. Based on the types of improvements that are proposed for CFD No. 88 -3 and the factors described above, the special taxes assigned to specific unit types are generally proportionate to the relative benefits received by them, and, accordingly, the special taxes in CFD NO. 88 -3 can be considered to be fair and reasonable. B. Based on the Developer's projections, a total of 1,769 residential units will be developed. It is expected that a single bond issue will be sold. 1 C. Proiected Special Tax Rates t Exhibit C lists the maximum special tax rates for developed and undeveloped property for each Area. The district shall determine the annual special tax levy based upon the method described in Exhibit C below, to the extent necessary to pay interest add principal on 1_ the bonds, replenish bond reserves and pay administrative expenses of the District. Exhibit E contains estimates of the special tax rates necessary to meat the proposed financial obligations for each Improvement Area. EXHIBIT E INTENDED TO PROVIDE A THEORETICAL EXAMPLE OF THE SPECIAL TAX RATES �7 WHICH MIGHT BE GENERATED IN THE DISTRICT ASSUMING TWENTY -FIVE YEAR BONDS ISSUED WITH AN AVERAGE COUPON INTEREST RATE OF 8.36 PERCENT. THERE IS NO GUARANTEE THAT TAX RATES WILL BE AT OR BELOW THE LEVELS INDICATED IN THIS EXHIBIT. Should the density of development within each Special Tax Area of the District fall significantly below the level projected in the Developer's current development plans, it may be necessary to increase taxes above the -5- J,/ Ll maximum levels for developed property unit types listed in Tables A and B of Exhibit C. If an increase should i.' be necessary, the tax rates for developed parcels shall be 'increased proportionately above their maximum levels until the District's revenue needs are met. However, under no circumstance shall the tax on a developed parcel be increased to the point where it is higher than the greater of $0.19 per usable square foot of assessor's parcel for Special Tax Area A and $0.05 per I usable square foot of assessor's parcel for Special Tax Area B or the tax for that parcel as listed in Tables A C and B of Exhibit C. E. Accuracy of Information 1 In order to develop the special tax formula and to l determine the maximum tax rates set forth in Exhibit C, information regarding annual absorption, land -use types 1 and net acreage was provided by the Landowner and hi Consultants to David Taussig and Associates, Inc. I1• IS THE LANDOWNER'S RESPONSIBILITY TO VERIFY THAT THIS INFORMATION IS TRUE AND CORRECT. DAVID TAUSSIG AND ASSOCIATES, INC. DISCLAIMS RESPONSIBILITY FOR THE IMPACT OF ANY SUCH INACCURATE DATA ON THE MAXIMUM TAX RATES ESTABLISHED FOR THIS CFD, INCLUDING THE INABILITY_, ( TO MEET THE FINANCIAL OBLIGATIONS OF THE DISTRICT. VI. GENERAL TERNS AND CONDITIONS ' a. Substitution Facilities The description of the public capital facilities, as i. set forth herein, is general in nature. The final nature and location of improvements and facilities will be determined upon the preparation of final plans and specifications. The final plans and specifications may show substitutes in lieu of, or modifications to, proposed work. Any such substitution shall not be a change or modification in the proceedings as long as the facilities provide a service substantially similar to that as set forth in this Report. An illustrative ( site plan showing proposed improvements is shown in ( Exhibit B. b. Bonds The financing of the public capital facilities as set forth in this Report, requires that bonds be issued pursuant to the terms, conditions and authorization of the Community Facilities Act of 1982, which is Chapte, 2.5, Division 2, Title 5 of the Government Code of t State of California, commencing with Section 53311, at,_. specifically Article 5. -6- trr, t' 1- C f� 1. (1. f4 1. 1 -� c. Appeals and Interpretation Procedure Any landowner or resident who feels that the amount or fotmula of the special tax is in error may file a notice with the Agency appealing the levy of the special tax. An appeals panel of three members, as appointed by the Agency, will then meet and promptly review the appeal and, if necessary, meet with the applicant. If the findings of the Appeals Board verify that the tax should be modified or changed, a recommendation at that time will be made to the Agency; and, as appropriate, the special tax levy shall be corrected. If applicable in any case, a refund shall be granted. Interpretations may be made by the Agency by resolution for purposes of clarifying any vagueness or ambiguity as it relates to any category, zone, rate, or definition applicable to these proceedings. It is my opinion that the special tax rate and method of apportionment, as not forth, is fair and equitable, uniformly applied, and not discriminatory or arbitrary. Special Projects Engineer City of Lake Elsinore Milo K. Keith -7- 0 o! i'. (tr L l •.J 1. I� 1. I 1 L• l�. 1 -� INDEX MAr r IN1 NIIYr Mr M NrMr rMr f1�r rOPr mmmrr P mWPrr rains MPRr m M P M Clrr O yo �mera moor P wrl�i mn s orfera w MrYrmNMmr mIMCpPMYM1P W \MIOII /era rWM ��rNPM WP I ��0 mmYr � N�rM © Y01'f 1Mr. Y�r nr •1h PrP�`nr.oMrwP ESLLT Y. M YCr/ P YIOmWIN/ M EpWry rmI1P11 P M t4Nrr P MMIOa NM P bl /O��rY b rr �ryr a mm. mrnr mmmnr y . p DISTRICT BOUNDARIES VEST LAKE F�IFVS a DISTRICT INFRASTRUCTURE PIPROOENT COMMUNITY FACILITIES DISTRICT N0. 88' I IN THE CITY OF LAKE ELS1NW- COUNTY OF RIVERSIDE. STATE OF CALIFORNIA �J �I 1 C C 1 -� LIGM DISTRICT BOUNDARIES WEST TARE ELSINORE COMMUNITY FACILITIES DISTRICT. INFRASTRUCTURE IMROVElENT6 COMUNITY FACILITIES DISTRICT N0, 88 -3 IN THE CITY OF LAKE ELSINORE. COUNTY OF RIVERSIDE. STATE OF CALIFORNIA B ET 2W n 1. L. J-1 / LtIL DISTRICT 80 WD ARIES WEST LAKE ELSINORE COMWtTY FACILITIES DISTRICT INFRASTRUCTURE IMPROVEMENTS COMMUNITY FACILITWOWRICT NOo — 03 Z IN THE CITY OF LAKE ELS . INCRE. I cowry 'oo RlVE'RSIDt. STATE OF CALIF!ORN!IA OMEVT I or '- 0 1 -� G 5 C; p r.rr II N =1 ® tl rwrll II . (I L-J L I � I (off I _j .YAK . •NM r I I lip i N H l •� ' Y � I rwn+ I�I ~ I� I I I�I I I �� �,�1 ��� usr• � I � i Itl I�I I�� _, wrwrnw 1Y OtltT � .� rrrn tl mrur , ®rsr� rr r� r� rrr. DISTRICT BOUNDARIES VEST LAKE ELSINORE CO MMITY FACILITIES DISTRICT INFRASTRUCTURE 1WROVEMENTS COMtiUNITY FACILITIES DISTRICT N0. 06-3 IN THE CITY OF LAKE ELSINORE, COUNTY OF RIVERSIDE. STATE OF CALIIF[ORNIA r 1 I i J,/ 0 �I p .o INF*A6T-JGTME d1 ' - rVEWW9 COMMUNITY FACILITIES oteniff N00 88 -3 IN TW CITY CFLAKE ELSINORE. COUNTY DF RIVERSIDE. STATE C.° CALIFORNIA wccr a or � 1 C r rr� 1_ 1 r. L r� i\ 1 -� i rr rrr• v.er. Or' DISTRICT BOUNDARIES WEST LAKE ELSINORE COMMUNITY FACILITIES DISTRICT INFRASTRUCTURE IMPROVEMENTS COMMUNITY FACILITIES DISTRICT N0, 88-3 IN THE CITY OF LAKE ELSINORE, COUNTY OF RIVERSIDE. STATE OF CALIFORNIA SK" aor 1 c r r r I. I� f_ C L E. l 1 -� um w Anmoly IYYm. ■o. IeNtY( YYn . r.r.1 I r r.r.1 r •l• �.r•n n.rs• MFM.M �.I r• _... mr• rwn+ .rla• _1. .rN• .1r1, NYK.• YYn I r1� -• ur »N.• _r.. MAY:• .ii. 11 •G• _NI N)r• .rr.. lIr•. rM•. N.IY.• MNIIN 1• M.l• Y4t • rr.H III f.• MM1 MM <• MFI YJt •l• DISTRICT BOUNDARIES as WEST LAKE M$tNORE CO M7<M TY FACILITIES DISTKM$ INFRASTRUCTURE 11rROYEM0475 11c COHHUNITY FACILITIES DISTRICT NO. 88 -3 IN THE CITY OF LAKE ELSINORE, COUNTY OF RIVERS:OE. STATE OF CALL 0RN1A acct 7 m 7 i i r r r 1 r� 1- �1 C 1, t.. 1 -� COMMUNITY FACILITIES DISTRICT REPORT COMMUNITY FACILITIES DISTRICT NO. 88 -3 City of Lake Elsinore MELLO -ROOS COMMUNITY FACILITIES ACT OF 1982 COST ESTIMATES (Rounded to $1,000) I. PUBLIC WORKS OF CONSTRUCTION Grand Avenue 5000LF $ 459.00 $2,295,000.00 Lincoln Street 3700LF $ 251.00 $ 929,000.00 Total Street Improvements Drain Improvements $1,224,000.00 Storm Description Ouantity Unit Price Coat ' Line E -1 South 7200LF $ 225.00 $1,627,000.00 Mcvicker Canyon Debris Basin L/S $1,500,000.00 Line C North 17,OOOLF $ 240.00. $4,104,000.00 Rice Canyon Storm Drain WS $ 520,000.00 Total Storm Drain Improvements Improvements $7,751,000.00 Sanitary Sewer Description Quantity Unit Price Cost Northshore Sewer Systems VCP Sanitary Sewer 15,200LF $ 45.00 $ 684,000.00 Pump Stations Modifications WS $ 560,000.00 Total Sanitary Sewer IMPROVIIMENTS Water System Improvements . $1,244,000.00 . Description Ouantity 3.3 MG Reservoirs Unit Price WS Cost $1,628,000.00 Booster Pump Station WS $ 195,000.00 Main Supply Line 1600 $ 45.00 $ 72,000.00 Total Stater System Improveronts Si.FtQA.nnn.nn Yage 1 of Exh) C r r t Public Improvements Description Ouantity McVicker Canyon Park Lincoln Street Fire Station Total Public Improvements TOTAL PUBLIC WORKS OF 1 -� Unit Price L/S L/S GRAND TOTAL PUBLIC WORKS OF CONSTRUCTION 11. Preliminary Design $ 110,000.00 Design Engineering $1,730,000.00 Design Surveys $ 105,000.00 Soils Engineering /Testing $ 210,000.00 Environmental Impact Report $ 70,000.00 Construction Surveys $ 351,000.00 City Plan Check Inspection $1,061,000.00 $ City Administration $ 150,000.00 Construction Management $ 432,000.00 • Contingency $ 150,000.00 TOTAL CONSTRUCTION INCIDENTAL EXPENSES Filing i Recording Fees III. FINANCIAL INCIDENTAL EXPENSES 5,000.00 Registrar i Paying Agent s• Cost $1,800,000.00 $ 970,000.00 $2,770,000.00 $16,904,000.00 $ 750,000100 $17,654,000.00 Assessment Engineer $ 25,000.00 Special Tax Consultant $ 25,000.00 Special Absorption Study $ 15,000.00 Legal Expanse: Bond Counsel $ 70,000.00 City Attorney $ 8,000.00 Appraiser $ 28,000.00 Bond Servicing: Official Statement $ 9,500.00 Printing i Servicing $ 5,000.00 Filing i Recording Fees $ 5,000.00 Registrar i Paying Agent $ 17,500.00 Printing : Advertising $ 7,500.00 - City Administration $ 35,000.00 Capitalized Interest+ $3,131,798.00 Contingency $ 200,000.00 Page 2 of Exhibit B $4,369,000.00 J -/ 1 c r TOTAL FINANCIAL INCIDENTAL EXPENSES $3,582,298.00 *Capitalized Interest equals 1.75 years interest at apptoximately 7% of the bonds issued. rV. BOND MARKETING AND RESERVE FUND Reserve Fund 1 10% $2,926,000.00 Marketing 6 2 -1 /2i $ 732,000 r it TOTAL BOND MARKETING i RESERVE FUND $3,658,000.00 V. SUMMARY OF COSTS AND EXPENSES Public Improvements $17,654,000.00 Construction Incidental Expense $ 4,369,000.00 Financial Incidental Expense $ 3,582,298.00 Marketing i Reserve Fund $ 3,658,000.00 Amount to Bond $29.263.298.00 For annual debt service and other parameters of financing see ( Ir Exhibit C. i_ t L Page 3 of Exhibit B r ri 1 -� .- Page 4- Exhibi N Z 1 -� .- Page 4- Exhibi EXHIBIT C RATE AND METHOD OF APPORTIONMENT FOR PROPOSED COMMUNITY FACILITIES DISTRICT NO. 88 -3 OF THE CITY OF LAKE ELSINORE (WEST LAKE ELSINORE) A Special Tax (the "Special Tax ")_ shall be levied on and collected from each parcel in Special Tax Area A and Special Tax Area B of Community Facilities District No. 88 -3 in each Fiscal Year, commencing July 1, 1990, in an amount determined by the City Council of the City of Lake Elsinore through the application of the appropriate Special Tax for "Developed Property" and A "Undeveloped Property" as described below. All of the property in CFD No. 88 -3, unless exempted by law or by the provisions hereof, shall be taxed for the purposes, to the extent and in the Amanner herein provided. A. Definitions. The terms hereinafter set forth have•the following meanings: "Act" means the Mello -Roos Community Facilities Act of 1982, being Chapter 2.51 Division 2 of Title 5 of the Government Code of the State of California. A "Approved Undeveloped Property" means all Taxable Property in CFD No. 88 -3 as of July i of any year not classified as Developed Property, for which a final tract map has been recorded as of AMarch 1 of the previous Fiscal Year. "Assigned Special Tax" means the Special Tax for each Land Use Class, as determined by reference to Table I and Table II of Section C below. "Base Maximum Special Tax" means an amount equal to $0.19 per square foot of Assessor's Parcel applicable to each parcel of Developed, Approved Undeveloped and Raw Undeveloped Property within .Special Tax Area A in Fiscal Year 1990 -91, and an amount ' equal to $0.05 per square foot of Assessor's Parcel applicable to each parcel of Developed, Approved Undeveloped and Raw Undeveloped Property within Special Tax Area B in Fiscal Year 1990 -91. "City" means the City of Lake Elsinore. "Council" means the City Council of the City of Lake Elsinore. 12/18/89 Page 2 "Developed Property" means all Taxable Property in CFD No. 88 -3 as of July 1 of any year for which a foundation building permit has been issued as of March 1 of the previous Fiscal Year. "Facilities" means any improvements or facilities designated by the Council with an estimated useful life of five years or longer which are eligible for financing under the provisions of the Act. "Fiscal Year" means the period starting July 1 and ending the following June 30. "Land Use Class" means any of the categories listed in Table I or Table II in Section C below to which a parcel is assigned I consistent with the provisions hereof. 1■� "Maximum Assigned Special Tax" for Approved Undeveloped Property and Raw Undeveloped Property in Fiscal Year 1990 -91 means an amount equal to $9,207 per acre in Special Tax Area A and $2,353 per acre in Special Tax Area B. "Maximum Special Tax" means the maximum Special Tax, determined in accordance with Section C, that can be levied by the Council in any Fiscal Year for each class of Developed Property and for Approved and Raw Undeveloped Property, as applicable. "Raw Undeveloped Property" means all Taxable Property in CFD No. 88 -3 not classified as Developed Property or Approved Undeveloped Property. "Special Tax" means the Special Tax for each Land Use Class, ' determined in accordance with Section C below, that can be levied by the Council in any Fiscal Year. "Special Tax Requirement" means the amount, to be determined annually by the Council, necessary to pay the authorized costs and expenses of CFD No. 88 -3 including those necessary to administer the bonds, collect and administer the Special Taxes, and administer CFD No. 88 -3 (which total administrative amount shall be separately stated by the Council in each levy), to pay current debt service on the bonds, to accumulate funds for future debt service (but only in years in which no revenues are collected from Undeveloped Property), to pay amounts delinquent on the bonds (or to become delinquent based upon past Special Tax delinquencies), to replenish the reserve fund to its proper level (including payments to be made from the reserve fund based upon past Special Tax delinquencies), to compensate for anticipated Special Tax delinquencies (based upon past delinquency experience), to pay directly for Facilities or to accumulate funds for that purpose, and to pay for all authorized services. Page 3 "Taxable Property" means all of the Assessor's Parcels within the boundaries of CFD No. 88 -3 which are not exempt from the Special Tax pursuant to law or Section E below. 8. Assicnmeat to Land Use Catecoriee. On July 1 of each year, all Taxable Property within CFD No. 88 -3 shall be categorized either as Developed Property, Approved Undeveloped Property or Raw 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. For purposes of determining the applicable Maximum Special Tax pursuant to Section C and depending on its location in Special Tax Area A or B, Developed Property shall be assigned to one of the classes designated in Table I or Table II below. Single Family Detached Residential Developed Property shall be assigned to Classes 1 through 4 based on the square footage of the dwelling unit, exclusive of garages'or other structures not used as living space, to be constructed on an Assessor's Parcel as set forth in the original building permit issued for such property. Attached Residential Developed Property shall be assigned to Class S. Commercial/ Industrial Developed Properties shall be assigned to Class 6. The square footage of a Commercial /Industrial building shall be computed from the gross square footage for the building(s) as reflected in the building plans upon which the building permits) for such parcel was issued. The acreage of a Commercial /Industrial parcel shall be determined by reference to the then current Assessor's Parcel Map and, if appropriate, to the most current parcel map or other subdivision tract map recorded with the Office of the Recorder for Riverside County. C. Maximum Tax 1. Developed Property The Maximum Special Tax for an Assessor's Parcel classified as Developed Property in Classes 1 through 6 shall be the greater of (i) the amount derived by multiplying the square footage of such Assessor's Parcel times the Base Maximum Special Tax or (ii) the Assigned Special Tax determined by reference to Table I or Table II below. For purposes of this Section C, the acreage or square footage of an Assessor's parcel shall be determined by reference to the then current Assessor's Parcel Map and, if appropriate, to the most current parcel map or other subdivision tract map recorded with the Office of the Recorder for Riverside County. Page 4 Notwithstanding the above, for Attached Residential Developed Property, a portion of the acreage in a recorded tract map shall be taxed as Undeveloped Property if building permits for one or more, but not all, of the units in the approved condominium or site plan for that map have been issued. The acreage in a recorded tract map to be taxed as Undeveloped Property shall equal the proportion of the associated condominium or site plan's approved units for which building permits have not been issued, multiplied by the total acreage within that tract map. Notwithstanding Section E below, for purposes of computing the Base Maximum Special Tax for each dwelling unit located on parcels of Attached Residential Developed Property that are owned by a homeowner's or property owner's association, the square footage of the entire Assessor's Parcel shall be included to determine the Base Maximum Special Tax. In making the computations set forth in this Section C (1) and in determining the Maximum Special Tax which may be levied in any Fiscal Year, on July 1, 1991 and on each July 1 thereafter, the Base Maximum Special Tax and the Assigned Special Tax for each class set forth in Table I and Table II shall be increased by an amount equal to 2.0% of the amount in effect for the previous Fiscal Year. TABLE I ASSIGNED SPECIAL TAXES ON DEVELOPED PROPERTY IN SPECIAL TAX AREA A OF COMMUNITY FACILITIES DISTRICT NO. 88 -3 (FISCAL YEAR 1990 -91) PER UNIT (RESIDENTIAL) AND PER ACRE (COMMERCIAL /INDUSTRIAL) (ALL SPECIAL TAX AREA A PROPERTIES ARE IDENTIFIED ON ATTACHED MAP AND IN THE "NOTICE OF SPECIAL TAX LIEN" TO BE RECORDED IN CONJUNCTION WITH THIS DISTRICT) Assigned Special ( Land Use Density or Tax (Fiscal Class Description Square Footage Year 1990 -91) 1 Single Family 2,800 or more $ 1,969 per Detached unit 2 Single Family 2,300 - 2,799 SF $ 1,688 per Detached unit 3 Single Family 1,700 - 2,299 SF $ 1,406 per Detached unit 4 Single Family Less than 1,700 SF $ 1,126 per Detached unit 5 Attached Homes Not Applicable $ 901 per unit 6 Commercial/ Not Applicable $ 8,277 per acre Industrial Page 5 The Maximum Special Tax may exceed the Assigned Special Tax for some Assessor's Parcels within each class if the Base Maximum Special Tax alternative is used ($0.19 per square foot of Assessor's Parcel). The Base Maximum Special Tax would be applied under the Fourth step of Section D (below) to lots larger than a certain size for each class of single Family Detached Property. single Family Detached lots, larger than the following minimum sizes, would be taxed at the Base Maximum Special Tax: Class 1: 10,363 Sq. Ft. Class 3: 7,400 Sq. Ft. Class 2: 8,884 Sq. Ft. Class 4: 5,926 Sq. Ft. The Base Maximum Special Tax would also apply to Class 5 if units are built at densities less than 9.18 units per acre and to all Class 6 parcels. TABLE II ASSIGNED SPECIAL TAXES ON DEVELOPED PROPERTY IN SPECIAL TAX AREA B OF COMMUNITY FACILITIES DISTRICT No. 88 -3 (FISCAL YEAR 1990 -91) PER UNIT (RESIDENTIAL) AND PER ACRE (COMMERCIAL /INDUSTRIAL) (ALL SPECIAL TAX AREA B PROPERTIES ARE IDENTIFIED ON ATTACHED MAP AND IN THE "NOTICE OF SPECIAL TAX LIEN^ TO BE RECORDED IN CONJUNCTION WITH THIS DISTRICT) Land Use Density or Assigned Special Tax (Fiscal Class Description Sguare Footage Year 1990 -91) 1 Single Family 2,800 or more $ 1,969 per Detached unit 2 Single Family 2,300 - 2,799 SF $ 1,688 per Detached unit 3 Single Family 1,700 - 2,299 SF $ 1,406 per Detached unit 4 Single Family Less than 1,700 SF $ 1,126 per Detached unit 5 Attached Homes Not Applicable $ 901 per 6 Commercial/ Not Applicable $ unit 2,178 per acre Industrial The Maximum Special Tax may exceed the Assigned Special Tax for some Assessor's Parcels within each class if the Base Maximum Special Tax alternative is used ($0.05 per square foot of Assessor's Parcel). The Base Maximum Special Tax would be applied under the Fourth step of Section D (below) to lots larger than a certain size for each class of Single Family Detached Property. Single Family Detached lots, larger than the following minimum sizes, would be taxed at the Base Maximum Special Tax: Class 1: 39,380 Sq. Ft. Class 3: 28,120 Sq. Ft. Class 2: 33,760 Sq. Ft. Class 4: 22,520 Sq. Ft. Page 6 The Base Maximum Special Tax would also apply to Class 5 if units are built at densities less than 2.41 units per acre and to all Class 6 parcels. 2. Undeveloped Property The Maximum Special Tax for an Assessor's Parcel classified as Raw Undeveloped Property or Approved Undeveloped Property shall be the greater of (i) the amount derived by multiplying the square footage of such Assessor's Parcel by the Base Maximum Special Tax (as applicable for each Special Tax Area) or (ii) the Maximum Assigned Special Tax Rate. The Assigned Special Tax for Approved Undeveloped Property shall be $ 990 per lot in both Special Tax Area A and Special Tax Area B except for recorded lots over 20,000 square feet, for which the Assigned Special Tax shall be $2,157 per acre. The Maximum Assigned Special Tax for Approved Undeveloped Property and Raw Undeveloped Property shall be $9,207 per acre in Special Tax Area A and $2,353 per acre in Special Tax Area B. In making the computation set forth in Section C (2) and in determining the Assigned Special Tax for Approved Undeveloped Property and the Maximum Assigned Special Tax on Raw and Approved Undeveloped Property which may be levied in any Fiscal Year, on July 1, 1991 and on any July 1 thereafter, the Assigned Special Tax for Approved Undeveloped Property and the Maximum Assigned Special Tax for Raw and Approved Undeveloped Property shall be increased by an amount equal to 2.0% of the amount in effect for the previous Fiscal Year. D. Method of Apportionment of the Soeoial Tax to Developed Property and Undeyeloogd Property,, Starting in Fiscal Year 1990 -91 and for each following Fiscal Year, the council shall determine the amount of money to be collected from Taxable Property in CFD No. 88 -3 in the Fiscal Year (the Special Tax Requirement). The Council shall levy the Special Tax as follows until the amount of the levy equals the Special Tax Requirement: First: The Special Tax shall be levied on each parcel of Developed Property, exclusive of property exempt from special Taxes pursuant to Section E below, in equal percentages (up to 100 %) of the Assigned Special Tax Rate for each class of Developed Property for such Fiscal Year determined by reference to Table I and Table II; �i■ r ■�t i I Page 7 second: If additional monies are needed after the first step has been completed, the Special Tax shall be levied on each parcel of Approved Undeveloped Property, exclusive of Undeveloped Property exempted by law or by the provisions of Section E (below) , in equal percentages (up to 100 %) of the Assigned Special Tax; Third: If additional monies are needed after the first two steps have been completed,..then the Special Tax shall be levied on each parcel of Raw Undeveloped Property in equal percentages (up to 100 %) of the Maximum Assigned Special Tax for Raw Undeveloped Property, exclusive of Undeveloped Property exempted by law or by the provisions of Section E below, up to, for Special Tax Area A, 91.47% of the Special Tax Requirement (i.e. net of revenues collected in the first and second steps above) and, for Special Tax Area B, 8.53% of the Special Tax Requirement (i.e. net of revenues collected in the first and second steps above); Fourth: If additional monies are needed after the first three steps have been completed, the Special Tax shall be levied on each parcel of Approved Undeveloped Property, exclusive of Undeveloped Property exempted by law or by the provisions of Section E (below), in equal percentages (up to 100 %) of the Maximum Assigned Special Tax for Approved Undeveloped Property; Fifth: If additional monies are needed after the first four steps have been completed, then the levy of the Special Tax on each parcel of Developed Property whose Maximum Special Tax is determined through the application of the Base Maximum Special Tax Rate shall be increased in equal percentages from the Assigned Special Tax Rate up to the Maximum Special Tax Rate for each such parcel for such Fiscal Year; Sixth: If additional monies are needed after the first five steps have been completed, then the Special Tax shall be levied proportionately on each parcel of Developed or Undeveloped Property owned by a Homeowners' Association which has not been exempted from the Special Tax pursuant to Section E, up to the Maximum Special Tax for Undeveloped Property; and Seventh: If additional monies are needed after the first six steps have been completed, then the Special Tax shall be levied proportionately on each parcel of Developed or Undeveloped Property conveyed or irrevocably offered to a public agency which has not been exempted from the Special Tax pursuant to Section E, up to the Maximum Special Tax for Undeveloped Property. r A Page 8 E. Exemptions, 1. Special Tax Area A A Special Tax shall not be imposed on up to 156.50 acres of Undeveloped Property conveyed or irrevocably offered to a public agency or conveyed to a Homeowners' Association. The acres exceeding such total of 156.50 acres shall be taxed consistent with Developed or Undeveloped Property to the extent set forth in Steps Six and Seven of Section D above. Under no circumstances shall the Council impose a Special Tax on land which is a public right of way or which is an unmanned utility property utilized for the provision of services to the public or a property encumbered with public or utility easements making impractical its utilization for other than thA purposes set forth in the easement. 2. special Tax Area 5 A Special Tax shall not be imposed on up to 486 acres of Undeveloped Property conveyed or irrevocably offered to a public agency or conveyed to a Homeowners' Association. The acres exceeding such total of 486 acres shall be taxed consistent with Developed or Undeveloped Property to the extent set forth in Steps Six and Seven of Section D above. Under no circumstances shall the Council impose a Special Tax on land which is a public right of way or which is an unmanned utility property utilized for the provision of services to the public or a property encumbered with public or utility easements making impractical its utilization for other than the purposes set forth in the easement. F. Review /Appeal committee. The Council shall establish as part of the proceedings and administration of CFD No. 88 -3 a special three- mex.ber Review /Appeal Committee. Any landowner or resident who feels that the amount of the Special Tax, as to their parcel, is in error may file a notice with the Review /Appeal Committee appealing the amount of the Special Tax levied on such parcel. The Review /Appeal Committee shall interpret this Rate and Method of Apportionment of the Special Tax and make determinations relative to the annual administration of the Special Tax and any landowner or resident appeals, as herein specified. The dec -sion of the Review /Appeal Committee shall be final and binding as to all persons. Page 9 a. Kanner of collection The special taxes for CFD No. 88 -3 will be collected in the same manner and at the same 'time as ordinary ad valorem property taxes, provided, however, that CFD No. 88 -3 may collect Special Taxes at a different time or in a different manner if necessary to meet its financial obligations. In the event of a ' delinquency, CFD No. 88 -3 will pursue foreclosure in a timely manner. NO SCALE 1 2 I I _ � e - -- ............... ------ � ZONE B i ZONE l 41 EXHIBIT TO RATE AND METHOD OF APPORTIONMENT FOR PROPOSED COMMUNITY FACILITIES DISTRICT NO, 88 -3 IN THE CITY OF LAKE ELSINORE, COUNTY OF RIVERSIDE. STATE OF CALIFORNIA (Portion of Exhibit C) yr� i. f 1 (f L t� t- J,/ �E,�a, a atij 9 N� i 9:••i -�i i v « • 1,700 SF a 1.00 EDU EDU AC9u _ CpTpE�D PROJERE > 280 F P A GE SQUA 2.30-2.80 RANGE PO CLASS casin ATEGORIES 9FD 3 -� SF) O�(<00 • 1,700 SF a 1.00 EDU EDU AC9u _ > 280 1.75 2.30-2.80 1.50 1.701.720.30 t 00 f Sr i f ( ( L L l Flom dim 1••640 104041 1041-4$ 1047-•3 lfts : 1901d11 1$24tl 198007 IM41 /804-09 109000 2001.18 3009 -u 3006.6 20"48 20"900 soosw 20m91 ft 81 200-16 2010.11 2011 -11 2011-13 2013-04 2014.19 1- EXMrr E PROJECTED SPECIAL TAXES FOR CITY OF LAKE ELSINORR CFD NO. $2-3 SPECIAL TAX AREAS A A R SINGLE FAMILY DETACH® RAW NAND AROVI) #OF TAXI TOTAL TOTAL om gwougs 0 p p 0 p p A !2.000 04701 X? 32.0611 sm7w v $2.031 9nA$2 0 $2.101 814.7 A $2.020 01.981 v $L $21 811.718 A $O.OU 01.0$2 $7 $L18o 01.74111 81 4018 $ 974Ap N SLIW 117.189 O Sun 0006 N $LIN p13p N SI M SNA41 N KING S MA7• N 18.$27 $91.041 ST $2.718 Immam 0 91.13• 410.118 37 tLAO WIA6 0 $1.120 a&= 0 91.91! MAN 0 $L6$ WAN 0 SVW 919.181 0 $L718 $101.72 81 9120 $23A20 SINGLE FAMILY DRACHM 91.20- 1.7186F) -t304 sF) FOF TAXI TOTAL SttlN ka "Emun • p p • p 64 191 $1,7$1 6191.96 311 $1.718 1804.016 201 $1.11111 67 4 u $1181 67"1 M 91.73• 81x0.118 $Mm M $1.731 071.649 M 11.720 8174.0• M $1.7$2 8174.183 447 111.141111 $1,164 M SIIAN me $,n M A" $2180 M M w136 M $1ASI Sim M WINE $MAN M US" WIMS M LL6• $SI2.W M 91.181 $1.649 M 1.019 p$2AU NUAI$ M SLI71 111!64 81A11 M 91.30 OMA$1 1$17.0 M 7630 $1.034 .21$ M ' 1.010 $1.00.781 M aim $21" SI.0p.p1 M 9.17 $2$2.781 SINGLE FAMILY DETACHED (1,70 -t304 sF) POP TA)I TOTAL UNR$ UNIT REVENUES 0 -p " 0 p 20 .v$ SI,4v i1.os1.41u AUAMI W st 111,x74.M $16 m $1.4,11, $1 .47AW 1.010 $1,144 $1.471.134 1.010 $1,111 81.01,103 1.010 $1.411 111 .404.137 1.010 $1.W 111.470.41,1 1.010 $1,164 $1.001,117 1.010 :1.104 $t..an - 11010 111,639 77.70.238 11016 $1.70 $1.049.06 1.019 $1.911 31.911,917 1.019 $1.072 111,70.649 1.010 71.004 111.115216 1410 $1.76 111.772316 1.019 $1.649 41I.M.4N 1.019 764 81.764 $1,"9,16 7.019 81A11 $t,M7372 1.219 $1.211 11,N6.70 1.019 $1.$" it121.916 ' 1.010 $1.928 $1.0.70 1.019 $1,68 22.W1.11" 1.018 5461 S4 W C r r l L L L L� FlECAL YCm low" 100}51 1001 -M 104.4 1003.24 1181.1• 100418 1000.17 10074 /018-00 toot." mi." 2402-.0 o05i0 o0W 1000." 204.67 1007-00 SOOFN 2410-11 =11 -1S "it-it o1Yq 2414-10 J-/ E=rrE PROJECTED SPECIAL TAXES FOR COY OF LAKE ELSINORE CFD NO. 543 SPECIAL TAX ARRAS A A R SINGLE FAMILY DETACHED ILESS THAN 1.70579 TOTAL POP TAO TOTAL MIA om M 0 18 18 S M M M $1.14 MAN TE 81.170 11"Am 7 51.124 18".04 7 5121E 87.677 to $1.14 $101251 17 SI.1u SIM.OET Su SI.tu SuS.•4 518 $1.164 0107.64 m $1.170 u/5A84 Su SIAM Sm.14 we SIiu uu.OTS an E12EE 070.733 0n WASI 0$20.702 SM SIAM 0647A7 an $I.S" uu.lu SM $AU WA7 700 $1.300 ES7.164 010 $1.421 WrASI 015 $1.410 4180.74 an MASS an"" SM EIAII {102.001 Su SIAMI 8410201 000 SIA7 2410AM SM {304 SKIM _... •u :. CL_. ♦OF TAO TOTAL UM 1&I AEMUE• MIA M M "4 M M 40 M M m 004 0SI02M 184 on $110.41 to 524 510.04 0 0 M M o M N M o 0 M o 0 M 18 0 M o 0 M 18 0 M o 0 M M 0 M 18 0 0 0 0 M o 0 M M 0 M o • M 18 0 M 18 0 M M 0 M o 0 18 0 0 o M RAW UNDEVELOPED MiOPEATY #OF TAE/ TOTAL ACRES ACRE AEVENUE0 404 so 0 40.7 0 0 004 00 0 174.6 014 $24.490 100.1 0764 0KSM 75.0 4 at 30.0 0o S us o 0 ILI o 0 0.0 0 0 0.0 0 64 0.0 18 0 0.0 0 0 0.0 $0 SQ- 0.0 0 0 0.0 0 0 0.0 00 0 OA o 0 0.0 0 24 OA 00 0 OA 4 0 0.0 0 0 0.0 M o OA o >o 0.0 0 0 OA 18 0 STATE OF CALIFORNIA ) COUNTY OF RIVERSIDE ) SS: CITY OF LAKE ELSINORE ) I, Vicki Lynn* Rasad, City Clark of the City of Lake Elsinore, Do HEREBY CERTIFY that the foregoing Resolution duly adopted by the City Council of the City of Lake Elsinore at a regular meeting of said Council on the 13th day of March, 1990, and that it was so adopted by the following vote: AYES: COUNCILMEMBERS: BUCK, DOMINGUEZ, STARKEY WASHBURN, WINKLER NOES: ' COUNCILMEMBERS: NONE ABSENT: COUNCILMEMBERS: NONE ABSTAIN: COUNCILMEMBERS: NONE CITY OF IARE LSINORB (SEAL) STATE OF CALIFORNIA ) COUNTY OF RIVERSIDE ) SS: CITY OF LAKE ELSINORE ) I, Vicki Lynne Rasad, City Clark 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 -76 of said Council, and that the same has not been amended or repealed. D TED: March 28, 2.990 C fASAD CITY CLERK CITY OF LAP W ELSI40RE (SEAL)