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Home My WebLink AboutCC Reso No 2020-064 CFD 2006-4 Rosetta Hills Approving Change Proceedings RESOLUTION NO. 2020-64 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE, CALIFORNIA, ACTING AS THE LEGISLATIVE BODY OF CITY OF LAKE ELSINORE COMMUNITY FACILITIES DISTRICT NO. 2006-4 (ROSETTA HILLS), AMENDING THE RATE AND METHOD OF APPORTIONMENT OF SPECIAL TAX FOR THE DISTRICT AND APPROVING AMENDMENTS TO THE FACILITIES AUTHORIZED TO BE FINANCED BY THE DISTRICT Whereas, after a public hearing, on July 25, 2006, the City Council (the “City Council”) of the City of Lake Elsinore (the “City”) adopted Resolution Nos. 2006-117 (the “Resolution of Formation”) and 2006-118 (the “Resolution to Incur Bonded Indebtedness”) which formed City of Lake Elsinore Community Facilities District No. 2006-4 (Rosetta Hills) (formerly known as City of Lake Elsinore Community Facilities District No. 2006-4 (Tracts 30698 & 32129)) (the “District” or “Community Facilities District No. 2006-4”) and called a special election on July 25, 2006 within the District on three propositions relating to the levying of a special tax, the incurring of bonded indebtedness and the establishment of an appropriations limit for the District, which were approved by more than two-thirds vote by the qualified electors within the District on July 25, 2006; and, Whereas, subsequent to formation, the District received a petition signed by The Donald S. Clurman Separate Property Trust, Three Strands Properties, LLC a California limited liability company and Spectrum Communities, LLC, a California limited liability company (together, the “Owner”), which collectively, currently owns all of the taxable land within the District, to initiate certain proceedings to: (1) change the name of the District from “City of Lake Elsinore Community Facilities District No. 2006-4 (Tracts 30698 & 32129)” to “City of Lake Elsinore Community Facilities District No. 2006-4 (Rosetta Hills)”; (2) amend and restate the original rate and method of apportionment of special tax for the District in the form attached as Attachment “A” (the “Amended Rate and Method”) to Resolution No. 2020-47 (the “Resolution of Consideration”); (3) amend the facilities and certain incidental expenses that the District is authorized to finance as set forth in Attachment “B” to the Resolution of Consideration (the “Facilities” and the “Incidental Expenses,” respectively); and (4) amend the boundary map of the District previously recorded in the official records of the County of Riverside on June 23, 2006 in Book No. 67, Page No. 9 of Maps of Assessment and Community Facilities Districts, as Document No. 2006-0456002, in the form attached as Attachment “C” to the Resolution of Consideration; and, Whereas, on May 12, 2020, the City Council, acting as the legislative body of Community Facilities District No. 2006-4, approved the Resolution of Consideration, stating its intention to consider the approval of the Amended Rate and Method and the Facilities and Incidental Expenses authorized to be financed by the District; and, Whereas, on June 23, 2020, this City Council conducted a noticed public hearing to determine whether it should proceed with the approval of the Amended Rate and Method and the Facilities and Incidental Expenses authorized to be financed by the District; and, Whereas, at the June 23, 2020 public hearing all persons desiring to be heard on all matters pertaining to the approval of the Amended Rate and Method and the Facilities and Incidental Expenses authorized to be financed by the District were heard and a full and fair hearing was held; and, DocuSign Envelope ID: F7CDA8BD-004B-41B8-950B-D8F988C67958 CC Reso. No. 2020-64 Page 2 of 4 Whereas, the City Council determines herein that there have been fewer than twelve registered voters residing in the District for the period of 90 days prior to June 23, 2020 and that the qualified electors within the District are the landowners within the District; and, Whereas, on the basis of all of the foregoing, the City Council has determined at this time to proceed with the approval of the Amended Rate and Method and the Facilities and Incidental Expenses authorized to be financed by the District. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE, ACTING AS THE LEGISLATIVE BODY OF CITY OF LAKE ELSINORE COMMUNITY FACILITIES DISTRICT NO. 2006-4 (ROSETTA HILLS), DOES HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS: Section 1. Each of the above recitals is true and correct. Section 2. The City Council hereby adopts the Amended Rate and Method attached as Attachment “A” to the Resolution of Consideration as the rate and method for the District. Except where funds are otherwise available, it is the intention of the City Council, subject to the approval of the eligible voters within the District, to levy the proposed special taxes at the rates set forth in Attachment “A” to the Resolution of Consideration on all non-exempt property within the District sufficient to pay for (i) the Facilities, (ii) the principal and interest and other periodic costs on the bonds proposed to be issued by the District to finance the Facilities and other expenses, including the establishment and replenishment of reserve funds, any remarketing, credit enhancement and liquidity facility fees (including such fees for instruments which serve as the basis of a reserve fund in lieu of cash), administrative expenses and other expenses of the type permitted by Section 53345.3 of the Act; and (iii) the Incidental Expenses. The Amended Rate and Method is described in detail in Attachment “A” to the Resolution of Consideration which are incorporated herein by this reference, and the City Council hereby finds Attachment “A” to the Resolution of Consideration contains sufficient detail to allow each landowner within the District to estimate the maximum amount of Special Taxes that may be levied against each parcel. The special tax shall be not be levied later than Fiscal Year 2059-60. Section 3. The Amended Boundary Map of Community Facilities District No. 2006-4 are established as shown on the map designated “Amended Boundary Map of Community Facilities District No. 2006-4 (Rosetta Hills) City of Lake Elsinore, County of Riverside, State of California”, which map is on file in the office of the City Clerk and was recorded pursuant to Sections 3111 and 3113 of the Streets and Highways Code in the County Book of Maps of Assessment and Community Facilities Districts in the Assessor-County Clerk-Recorder’s office of the County of Riverside in Book No. 85 Page No. 21-22 on May 20, 2020 as Instrument No. 2020-0214926. Section 4. Written protests against the approval of the Amended Rate and Method and the Facilities and Incidental Expenses authorized to be financed by the District have not been filed by one-half or more of the registered voters within the boundaries of the District. The City Council hereby finds that the approval of the Amended Rate and Method and the Facilities and Incidental Expenses authorized to be financed by the District have not been precluded by a majority protest pursuant to Section 53337 of the Act. Section 5. An election is hereby called within the boundaries of the District on the propositions of approving the Amended Rate and Method and the Facilities and Incidental Expenses authorized to be financed by the District. The propositions to be placed on the ballot for the District are attached hereto as Attachment “A.” Following certification of landowner votes in favor of the DocuSign Envelope ID: F7CDA8BD-004B-41B8-950B-D8F988C67958 CC Reso. No. 2020-64 Page 3 of 4 adoption of the Amended Rate and Method and the Facilities and Incidental Expenses authorized to be financed by the District, the District shall record an amended notice of special tax lien for the District. Section 6. The date of the foregoing election for the District shall be June 23, 2020, or such later date as is consented to by the City Clerk and the landowners within the District. The City Clerk shall conduct the elections. Except as otherwise provided by the Act, the election shall be conducted by personally delivered or mailed ballots and, except as otherwise provided by the Act, the election shall be conducted in accordance with the provisions of law regulating elections of the City insofar as such provisions are determined by the City Clerk to be applicable. Section 7. It is hereby found that there are no registered voters within the territory of the District, and, pursuant to Section 53326 of the Act, 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 the District. Section 8. This Resolution shall be effective upon its adoption. Passed and Adopted at a regular meeting of the City Council of the City of Lake Elsinore, California, this 23rd day of June 2020. Brian Tisdale Mayor Attest: Candice Alvarez, MMC City Clerk STATE OF CALIFORNIA ) COUNTY OF RIVERSIDE ) ss. CITY OF LAKE ELSINORE ) I, Candice Alvarez, MMC City Clerk of the City of Lake Elsinore, California, do hereby certify that Resolution No. 2020-64 was adopted by the City Council of the City of Lake Elsinore, California, at the Regular meeting of June 23, 2020 and that the same was adopted by the following vote: AYES: Council Members Manos, Johnson, and Sheridan; Mayor Pro-Tem Magee; and Mayor Tisdale NOES: None ABSENT: None ABSTAIN: None Candice Alvarez, MMC City Clerk DocuSign Envelope ID: F7CDA8BD-004B-41B8-950B-D8F988C67958 ATTACHMENT A ATTACHMENT “A” SAMPLE BALLOT CITY OF LAKE ELSINORE COMMUNITY FACILITIES DISTRICT NO. 2006-4 (ROSETTA HILLS) SPECIAL ELECTION June 23, 2020 This ballot represents ___ votes. To vote, write or stamp a cross (“+” or “X”) 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 of the City of Lake Elsinore and obtain another. PROPOSITION A: Shall a special tax with an Amended Rate and Method of Apportionment as provided in Attachment “A” to Resolution No. 2020-47 of the City Council of the City of Lake Elsinore for City of Lake Elsinore Community Facilities District No. 2006-4 (Rosetta Hills) (the “District”) be levied to pay for the Facilities, Incidental Expenses and other purposes described in Resolution No. 2020-47, including the payment of the principal of and interest on bonds issued to finance the Facilities and Incidental Expenses for the District? YES  NO  PROPOSITION B: Shall the District be authorized to finance the Facilities and Incidental Expenses from proceeds of the special tax to be levied within the District and/or from proceeds of bonds or other obligations to be issued by the District as set forth in Attachment “B” to Resolution No. 2020-47 adopted on May 12, 2020? YES  NO  DocuSign Envelope ID: F7CDA8BD-004B-41B8-950B-D8F988C67958