HomeMy WebLinkAboutCC Reso No 2006-099RESOLUTION NO. 2006-99
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
LAKE ELSINORE CANVASSING THE RESULTS OF THE
SPECIAL ELECTION HELD WITHIN IMPROVEMENT
AREA NO. 2 OF THE CITY OF LAKE ELSINORE
COMMUNITY FACILITIES DISTRICT NO. 2004-3 (ROSETTA
CANYOl~
WHEREAS, the City Council (the "CounciP') of the City of Lake Elsinore
(the "City") has previously conducted proceedings pertaining to the authorization
of indebtedness in the amount not to exceed $33,000,000 within Improvement
Area No. 2 of the City of Lake Elsinore Community Facilities District No. 2004-3
(Rosetta Canyon) (the "GFD"), the rate and method of apportionment for the levy
and collection of special taxes (the "Special Tax") to pay the principal and interest
on bonds issued or other debt, and the establishment of an appropriations limit, and
the calling of an election in regard to the foregoing; and
WHEREAS, on June 27, 2006, a special election was held within
Improvement Area No. 2 of the CFD relative to the authorization of not to exceed
$33,000,000 of indebtedness within Improvement Area No. 2 of the CFD, the rate
and method of apportionment of the Special Taac, and the establishment of an
appropriations limit; and
WHEREAS, at such special election the proposal far the incurring the
bonded indebtedness, the rate and method of apportionment and manner of
collection of the Special T~ and establishing an appropriations limit far
Improvement Area No. 2 of the CFD were approved by the requisite 2/3 of the
votes cast by qualified electors of Improvement Area No. 2 of the CFD.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF
LAKE ELSINORE DOES HEREBY RESOLVE, DETERMINE AND
ORDER AS FOLLOWS:
SECTION 1. It is hereby deternuned that the special election conducted
within Improvement Area No. 2 of the CFD was duly and validly conducted.
SECTION 2. The Council, acting as the legislative body of the CFD, is
authorized to levy the Special Tax on behalf of the CFD, as specified in the
Resolution Determining Validity of Prior Proceedings adopted on June 27, 2006.
CITY COUNCIL RESOLUTION NO. 2006-99
Page 2 of 3
SECTION 3. The Council is authorized to incur indebtedness on behalf of
Improvement Area No. 2 of the CFD in the maximum amount of $33,000,000.
SECTION 4. The City is authorized to establish an appropriations limit for
Improvement Area No. 2 of the CFD.
SECTION 5. The City Clerlc is hereby directed and authorized to record
notice of the special tax of the CFD by recording a Notice of Special Tax Lien of
the CFD pursuant to Section 3117.5 of the California Streets and Highways Code.
SECTION 6. This Resolution shall take effect from and after the date of its
passage and adoption.
CITY COUNCIL RESOLUTION NO. 2006-99
Page 3 of 3
PASSED, APPROVED AND ADOPTED this 27th day of June, 2006, by
the following vote:
AYES: COiJNCII,MEMBERS: Buckley, Hickman, Kelley,
Schiffner, Magee
NOES: COiJNCILMEMBERS: None
ABSENT: COiJNCILMEMBERS: None
ABSTAIN: COUNCILMEMBERS:
ATTES :
Frederick Ray ~ Clerk
City of Lake Elsinore ,
AP OVED AS O O .
B bara Zeid L ibold, City Attorney
City of Lake Elsinore
City of Lake
~