HomeMy WebLinkAboutCC Reso No 1995-68\y
RESOLUTION NO. 95-68 ,
A RESOLUTION OF INTENTION TO INCUR BONDED INDEBTEDNESS OF THE
PROPOSED CITY OF LAKE ELSINORE COI~IMLTNITY FACILTTIES DISTRICI' NO. 95-1
(LAKE ELSINORE C1T'Y CENTER PLAZA PUBLIC IMPROVEMENTS) PURSUANT TO THE
~ MELL~Lt~ =,t~'~OS COMMUATITY FACILTTIES ACT OF 1982
~ity of Lake Elsinore
C=r+~i°~munity Facilities District No. 95-1
.~;;,a E3sinore City Center Plaza Public Improvements)
RE50LVED by the City Covncil of the City of Lake Elsinore (the "City") that:
WHEREAS, this City Council has this date adopted its Resolution entitled "A
ResoluHon of Intention to Establish a Community Facilities District and To Authorize the Levy
of Special Taxes Pursuant to the Mello-Roos Community Facilities Act of 1982", stating its
intention to form a community facilities district pursuant to the Mello-Roos Community
Facilities Act of 1982, as amended (the "AcY'), Chapter 2.5 of Pazt 1 of Division 2 of Title 5 of
the California Government Code, for the purpose of financing certain public unprovements (the
"Facilities"), as further provided in said Resolution; and
WHEREAS, this City Council esfimates the amount required for the financing of the
Facilities to be the sum of $1,350,000; and
WHEREAS, in order to finance the Facilities it is necessary to incur bonded
indebtedness in the amount of $3,000,000.
NOW, THEREFORE, IT IS HEREBY ORDERED as follows:
1. It is necessazy to incur bonded indebtedness within the boundaries of the proposed
City of Lake Elsinore Community Facilities District No. 95-1 (Lake Elsinore City Center Plaza
Public Improvements) (the "District") in the amount of $3,000,000 to finance the Facilities.
2. The bonded indebtedness is proposed to be incurred for the purpose of financing the
Facilities, including acquisition and irxlprovemenr. costs and all costs incidental to or connected
with the accomplishxnent of said purpes~s an~ of the financing thereof, as permitted by Section
53345.3 of the Act.
3. This City Council, acting as iegislative body for the District, intends to authorize the
issuance and sale of bonds in the maximum aggregate principal amount of not to exceed
$3,000,000, bearing interest payable semi-annually or in such other manner as this City Council
shall deternune, at a rate not to exceed the maximum rate of interest as may be authorized by
applicable law at the time of sale of such bonds, and maturing not to exceed 40 years from the
date of the issuance of said bonds.
4. Tuesday, November 14, 1995, at 7:00 p.m., in the regular meeHng place of this City
Council, in the City of Lake Elsinore Cultural Center, 183 North Main Street, Lake Elsinore,
California, be, and the same are hereby appointed and fixed as the time and place when and
where this City Council, as legislative body for the District, will conduct a public hearing on the
proposed debt issue and consider and finally determine whether the public interest, convenience
and necessity require the issuance of bonds of the City for the District.
5. The City Clerk is hereby directed to cause norice of said public hearing to be given by
publication one time in a newspaper of general circulation circulated within the District. The
publication of said notice shall be completed at least seven (7) days before the date herein set
for said public hearing. Said notice shall substantially in the form of Exhibit A hereto.
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PASSED AND ADOPTED this lOth day of October,1995, by the following vote:
AYES: COUNCILMEMBERS: BENDER, BRINLEY, PAPE, WASHBURN
NOES: COUNCILMEMBERS: ALONGI
ABSENT: COUNCILMEMBERS: NONE
~SEAL)
Atte ~
By:
Vicki F asad, City Clerk
, Ci;:y of Lake Elsinore
ssasn-i~qieav
Appr.oved as to Legal Form:
~
John R. Harper, City t orney
-Z-
E?Q~IIBTf A
NOTICE OF PUBLIC HEARING
CITY OF LAKE ELSINORE
Community Facilities District No. 95-1
(Lake Elsinore City Center Plaza Public Improvements)
Notice is hereby given that on October 10, 1995, the City Council of the City of Lake
ELsinore adopted a Resolurion entitled "A Resolution of Intention To Incur Bonded Indebtedness
of the Proposed City of Lake Elsinore Community Facilities District No. 95-1 (Lake Elsinore
City Center Plaza Public Improvements) Pursuant To The Mello-Roos Community Facilities Act
Of 1982". Pursuant to the Mello-Roos Community Facilities Act of 1982 (the "AcY') the City
Council hereby gives notice as follows
A. The text of said Resolurion is as follows:
RESOLVED by the City Council of the City of Lake Elsinore (the "City") that:
WHEREAS, this City Council has this date adopted its Resolution entitled "A
Resolution of Intention to Establish a Community Facilities District and To Authorize
the Levy of Special Taxes Pursuant to the Ivlello-Roos Community Facilities Act of
1982", stating its intention to form a community facilities district pursuant to the Mello-
Roos Community Facilities Act of 1982, as amended (the "Act"), Chapter 2.5 of Pazt 1
of Division 2 of Title 5 of the California Government Code, for the purpose of financing
certain public improvements (the "Facilities"), as fixrther provided in said Resolution;
and
WHEREAS, this City Council estimates the amount required for the financing of
the Facilities to be the sum of $1,350,000; and
WHEREAS, in order to finance the Facilities it is necessary to incur bonded
indebtedness in the amount of $3,000,000.
NOW, THEREFORE, IT IS HEREBY ORDERED as follows:
1. It is necessary to incur bonded indebtedness within the boundaries of the
proposed City of Lake Elsinore Community Facilities District No. 95-1 (Lake Elsinore
City Center Plaza Public Improvements) (the "District") in the amount of $3,000,000 to
finance the Facilities.
2. The bonded indebtedness is proposed to be incurred for the purpose of
financing the Facilities, including acquisition and improvement costs and all costs
incidental to or connected with the accomplishment of said purposes and of the
financing thereof, as pernritted by Section 53345.3 of the Act.
3. This City Council, acting as legislative body for the District, intends to
authorize the issuance and sale of bonds in the maximum aggregate principal amount of
not to exceed $3,000,000, bearing interest payable semi-annually or in such other manner
as this City Council shall detemune, at a rate not to exceed the maxunum rate of interest
as may be authorized by applicable law at the time of sale of such bonds, and maturing
not to exceed 40 years from the date of the issuance of said bonds.
4. Tuesday, November 14,1995, at 7:00 p.m., in the regular meeting place of this
City Council, in the City of Lake Elsinore Cultural Center,183 North Main Street, Lake
Elsinore, California, be, and the same are hereby appointed and fixed as the time and
place when and where this City Council, as legislative body for the District, will conduct
a public hearing on the proposed debt issue and consider and finally determine whether
the public interest, convenience and necessity require the issuance of bonds of the City
for the District.
5. The City Clerk is hereby directed to cause notice of said public hearing to be
given by publication one time in a newspaper of general circulation circulated within the
District. The publication of said notice shall be completed at least seven (7) days before
the date herein set for said public hearing. Said notice shall substantially in the form of
Exhibit A hereto.
Exhibit A
Page 1
B. The hearing referred to in the aforesaid Resolution shall be at the tixne and place
specified in said Resolution.
C. At that time and place the testunony of all interested persons, including persons
owning property in the area of the proposed community facilities district, will be heazd.
Dated: , 1995
/s/ Vicki Kasad
City Clerk,
City of Lake Elsinore
E~ibit A
Page 2
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) SS:
CITY OF LAKE ELSINORE )
I, VICKI KASAD, CITY CLERK 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 lOth day of October, 1995,
and that it was so adopted by the following vote:
AYES: COUNCILMEMBERS: BENDER, BRINLEY, PAPE, WASHBURN
NOES: COUNCILMEMBERS: ALONGI
ABSENT: COUNCILMEMBERS: NONE
ABSTAIN: COUNCILMEMBERS: NONE
VIC'~:~C-KASA , CI ERK
CITY O1~" LAKE ELSINORE
(SEAL)
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) SS:
CITY OF LAKE ELSINORE )
I, VICKI 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. 95-68 of said
Council, and that the same has not been amended or repealed.
DATED: October 13, 1995
A.-~p, l.~~ /~
v"`~!~ ~"" I
VICKI [L'~SA , CITY CLERK
CITY OF LAKE ELSINORE
(SEAL~