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City of Lake Elsinore
Regular Agenda
Public Financing Authority
NATASHA JOHNSON, CHAIR
DARYL HICKMAN, VICE CHAIR
BRIAN TISDALE, AUTHORITY MEMBER
STEVE MANOS, AUTHORITY MEMBER
ROBERT MAGEE, AUTHORITY MEMBER
GRANT YATES, EXECUTIVE DIRECTOR
LAKE- ELSINORE.ORG
(951) 674 -3124 PHONE
CULTURAL CENTER
183 N. MAIN STREET
LAKE ELSINORE, CA
92530
Tuesday, February 10, 2015 7:00 PM Cultural Center
CLOSED SESSION - None
PUBLIC SESSION at 7:00 p.m.
The City of Lake Elsinore appreciates your attendance. Citizens' interest provides the Council
and Authority with valuable information regarding issues of the community.
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The agenda is posted 72 hours prior to each meeting outside of City Hall and is available at
each meeting. The agenda and related reports are also available at City Hall on the Friday
prior to the meeting and are available on the City's website at www.Lake- Elsinore.org. Any
writings distributed within 72 hours of the meeting will be made available to the public at the
time it is distributed to the Authority.
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requires a modification or accommodation in order to participate in a meeting should contact
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City of Lake Elsinore Page 1 Printed on 2/5/2015
Public Financing Authority Regular Agenda February 10, 2015
CALL TO ORDER - 7:00 P.M.
ROLL CALL
PRESENTATIONS / CEREMONIALS - None
PUBLIC COMMENTS — NON - AGENDIZED ITEMS — 1 MINUTE
(Please read & complete a Request to Address the Authority form prior to the start of
the meeting and turn it into the Clerk. The Chair or Clerk will call on you to speak.)
CONSENT CALENDAR
(All matters on the Consent Calendar are approved in one motion, unless an Agency
Member or any member of the public requests separate action on a specific item.)
ID# 14-435 Approval of Minutes
Recommendation: It is recommended that the Authority approve the Minutes as submitted.
Attachments: PFA Staff R Minutes for Approval
PFA 1 -27 -2015 Minutes
PUBLIC HEARING(S) - None
APPEALS) - None
BUSINESS ITEM(S)
ID# 14-436 Adoption of Resolutions by the Citv Council Actina as the
Legislative Body of Community Facilities Districts No. 95 -1 (Lake
Elsinore City Center Public Improvements) and No. 2005 -2
(Alberhill Ranch) Regarding the Issuance of Special Tax Bonds by
Such Community Facilities District
Adoption of Resolutions by the City Council Acting as the
Legislative Body of Community Facilities Districts No. 2004 -3
(Rosetta Canyon - Improvement Areas No. 1 & 2), No. 2005 -1
(Serenity), No. 2005 -6 (City Center Townhomes) No. 2006 -2
(Viscaya) and No. 2003 -2 (Canyon Hills) Authorizing the Distribution
of a Preliminary Official Statement in Connection With the Issuance
of Refunding Revenue Bonds on the Behalf of Such Community
Facilities Districts
Adoption of a Resolution by the Public Financing Authority
Authorizing the Distribution of a Preliminary Official Statement in
Connection With the Issuance of Refunding Revenue Bonds on the
City Of Lake Elsinore Page 2 Printed on 2/5/2015
Public Financing Authority Regular Agenda February 10, 2015
Behalf of Community Facilities District No. 95 -1 (Lake Elsinore City
Center Public Improvements) and Other Previously Approved CFDs
Identified in Authority Resolution No. PFA -2015 -001
Recommendation: It is recommended that the City Council approve and adopt the following two (2)
Authorizing Resolutions that approve the issuance of Community Facilities District
(CFD) refunding bonds ( "Local Obligations ") to refinance certain outstanding bonds for
two (2) previously formed CFDs (listed below) and approve the preparation and
distribution of a Preliminary Official Statement ( "POS') connection with the sale of local
agency refunding revenue bonds to acquire the Local Obligations for the
aforementioned CFDs.
1.) Resolution No. 2015 -012 RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF LAKE ELSINORE, ACTING AS THE LEGISLATIVE BODY OF CITY OF LAKE
ELSINORE COMMUNITY FACILITIES DISTRICT NO. 95 -1 (LAKE ELSINORE CITY
CENTER PUBLIC IMPROVEMENTS), AUTHORIZING THE ISSUANCE OF ITS 2015
SPECIAL TAX REFUNDING BONDS IN A PRINCIPAL AMOUNT NOT TO EXCEED
ONE MILLION FIVE HUNDRED THOUSAND DOLLARS ($1,500,000) AND
APPROVING CERTAIN DOCUMENTS AND TAKING CERTAIN OTHER ACTIONS IN
CONNECTION THEREWITH
2.) Resolution No. 2015 -013 RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF LAKE ELSINORE, ACTING AS THE LEGISLATIVE BODY OF CITY OF LAKE
ELSINORE COMMUNITY FACILITIES DISTRICT NO. 2005 -2 (ALBERHILL RANCH),
AUTHORIZING THE ISSUANCE OF ITS IMPROVEMENT AREA A 2015 SPECIAL
TAX REFUNDING BONDS IN A PRINCIPAL AMOUNT NOT TO EXCEED
TWENTY -SIX MILLION DOLLARS ($26,000,000) AND APPROVING CERTAIN
DOCUMENTS AND TAKING CERTAIN OTHER ACTIONS IN CONNECTION
THEREWITH
It is recommended that the City Council approve and adopt the following five (5)
Resolutions that approve the preparation and distribution of a preliminary official
statement ( "POS ") in connection with the sale of local agency refunding revenue bonds
to acquire the Local Obligations for six (6) previously formed CFDs (listed below):
1.) Resolution No. 2015 -014 RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF LAKE ELSINORE, ACTING AS THE LEGISLATIVE BODY OF CITY OF LAKE
ELSINORE COMMUNITY FACILITIES DISTRICT NO. 2004 -3 (ROSETTA CANYON),
AUTHORIZING THE PREPARATION AND DISTRIBUTION OF A PRELIMINARY
OFFICIAL STATEMENT IN CONNECTION WITH THE ISSUANCE OF REFUNDING
REVENUE BONDS OF THE LAKE ELSINORE PUBLIC FINANCING AUTHORITY
AND TAKING CERTAIN OTHER ACTIONS IN CONNECTION THEREWITH
2.) Resolution No 2015 -015 RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF LAKE ELSINORE, ACTING AS THE LEGISLATIVE BODY OF CITY OF LAKE
ELSINORE COMMUNITY FACILITIES DISTRICT NO. 2005 -1 (SERENITY),
AUTHORIZING THE PREPARATION AND DISTRIBUTION OF A PRELIMINARY
OFFICIAL STATEMENT IN CONNECTION WITH THE ISSUANCE OF REFUNDING
REVENUE BONDS OF THE LAKE ELSINORE PUBLIC FINANCING AUTHORITY
AND TAKING CERTAIN OTHER ACTIONS IN CONNECTION THEREWITH
3.) Resolution No. 2015 -016 RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF LAKE ELSINORE, ACTING AS THE LEGISLATIVE BODY OF CITY OF LAKE
ELSINORE COMMUNITY FACILITIES DISTRICT NO. 2005 -6 (CITY CENTER
TOWNHOMES), AUTHORIZING THE PREPARATION AND DISTRIBUTION OF A
PRELIMINARY OFFICIAL STATEMENT IN CONNECTION WITH THE ISSUANCE OF
City of Lake Elsinore Page 3 Printed on 2/5/2015
Public Financing Authority Regular Agenda February 10, 2015
REFUNDING REVENUE BONDS OF THE LAKE ELSINORE PUBLIC FINANCING
AUTHORITY AND TAKING CERTAIN OTHER ACTIONS IN CONNECTION
THEREWITH
4.) Resolution No. 2015 -017 RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF LAKE ELSINORE, ACTING AS THE LEGISLATIVE BODY OF CITY OF LAKE
ELSINORE COMMUNITY FACILITIES DISTRICT NO. 2006 -2 (VISCAYA),
AUTHORIZING THE PREPARATION AND DISTRIBUTION OF A PRELIMINARY
OFFICIAL STATEMENT IN CONNECTION WITH THE ISSUANCE OF REFUNDING
REVENUE BONDS OF THE LAKE ELSINORE PUBLIC FINANCING AUTHORITY
AND TAKING CERTAIN OTHER ACTIONS IN CONNECTION THEREWITH
5.) Resolution No. 2015 -018 RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF LAKE ELSINORE, ACTING AS THE LEGISLATIVE BODY OF CITY OF LAKE
ELSINORE COMMUNITY FACILITIES DISTRICT NO. 2003 -2 (CANYON HILLS),
AUTHORIZING THE PREPARATION AND DISTRIBUTION OF A PRELIMINARY
OFFICIAL STATEMENT IN CONNECTION WITH THE ISSUANCE OF REFUNDING
REVENUE BONDS OF THE LAKE ELSINORE PUBLIC FINANCING AUTHORITY
AND TAKING CERTAIN OTHER ACTIONS IN CONNECTION THEREWITH
It is recommended the Public Financing Authority approve and adopt the following
Resolution that approves the preparation and distribution of a preliminary official
statement ("POS") and certain other documents and actions in connection with the sale
of local agency refunding revenue bonds to acquire the Local Obligations for eight (8)
previously formed CFDs that are identified in more detail in the resolution and in
Authority Resolution No. PFA- 2015 -001 previously adopted by the Authority at its
January 13, 2015 meeting:
1.) Resolution No. PFA 2015 -003 RESOLUTION OF THE BOARD OF DIRECTORS
OF THE LAKE ELSINORE PUBLIC FINANCING AUTHORITY, RIVERSIDE COUNTY,
CALIFORNIA, AUTHORIZING THE PREPARATION AND DISTRIBUTION OF THE
PRELIMINARY OFFICIAL STATEMENT IN CONNECTION THE ISSUANCE OF
REFUNDING REVENUE BONDS, APPROVING CERTAIN DOCUMENTS AND
TAKING CERTAIN OTHER ACTIONS IN CONNECTION THEREWITH
Attachments: PFA Lake Elsinore 2015 CFD Ref Bond Alberhill
PFA - Reso for CFD 2005 -2 Alberhill Ranch
PFA - Reso for CFD 95 -1 Lake Elsinore
PFA - Template Escrow Agreement
PEA- Template Local Obligation Bond
PFA - Local Obligation Purchase Agreement
PFA - Authority Resolution Approving P05
PFA --Reso Approving POS CFD 2005 -6
PFA - Reso ADproving POS CFD 2004 -3
PFA - Reso ADprovina POS CFD 2005 -1
PFA - Reso Approving POS CFD 2006 -2
PEA - Reso Approving POS CFD 2003 -2
PFA 2 -3 -15 Lake Elsinore PFA POS
City of Lake Elsinore Page 4 Printed on 2/5/2015
Public Financing Authority Regular Agenda February 10, 2015
EXECUTIVE DIRECTOR COMMENTS
LEGAL COUNSEL COMMENTS
AGENCY MEMBER COMMENTS
ADJOURNMENT
The Public Financing Authority of the City of Lake Elsinore will adjourn this meeting to the
next regularly scheduled meeting.
AFFIDAVIT OF POSTING
I, Virginia J. Bloom, Authority Clerk, do hereby affirm that a copy of the foregoing agenda was
posted at City Hall 72 hours in advance of this meeting.
Virginia J. Bloom, Authority Clerk
City of Lake Elsinore Page 5 Printed on 21512075