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HomeMy WebLinkAboutCC Reso No 1991-71RESOLiTPIONNO. 91-71 A RESOLUTION OF INTENTION TO ESTABLISH A COMMUIVITY FACILI'PIES DISTRICT AND TO AUTHORIZE TIiE LEVY OF SPECIAL TAXES PURSUANT TO TF~ MELLO-ROOS COMMUNITY FACILITIES ACT OF 1982 City of Lake Elsinore Community Facilities District No. 91-4 (Scenic Ridge Public Improvements) RESOLVED by the City Council of the City of Lake Elsinore (the "City") that: WHEREAS, under the Mello-Roos Community Facilities Act of 1982, as amended (the "Act"), Chapter 2.5 of Part 1 of Division 2 of Title 5, commencing at Section b3311, of the California Government Code, this City Council may act as the legislative body for proposed community facilities districts and is empowered with the authority to establish community facilities districts; and WHER~AS, this City Council has received a petition requesting that this City Council establish a community facilities district under the Act and an executed Agreement Regarding Advances (the "Agreement"), whereby the landowner within the proposed community facilities district is willing to advance the funds necessary to form the district; and WHEREAS, this City Council, with the aid of City staff, has reviewed the petition and the Agreement and found them to be in proper form and now desires to proceed with the establishment of a community facilities district under the Act. NOW, TIiEREFORE, IT IS HEREBY ORDERED as follows: 1. This City Council proposes to conduct proceedings to establish a community facilities district pursuant to the Act. 2. This City Council hereby acknowledges receipt of a petition to form a community facilities district (the "District") in the Scenic Ridge area of the City. 3. This City Council hereby approves the Agreement and rat~es its execution by the City, and authorizes appropriate City personnel to expend the deposit referred to therein in the manner specified in the Agreement. It is expected that the City will reimburse any amounts so expended from the proceeds of the bonds referred to below, in the manner specified in the Agreement. 4. The name proposed for the District is City of Lake Elsinore Community Facilities District No. 91-4 (Scenic Ridge Public Improvements). 6. The proposed boundaries of the District are as shown on the map of the District on file with the City Clerk, which boundaries are hereby preliminarily approved and to which map reference is hereby made for further particulars. The City Clerk is hereby directed to record, or cause to be recorded, said map of the boundaries of the District in the office of the County Recorder within fifteen days of the date of adoption of this Resolution. 6. The type of public facilities proposed to be financed by the District and pursuant to the Act shall consist of those items listed as facilities (the "Facilities") on Exhibit A hereto, which exhibit is by this reference incorporated herein. 7. Except to the extent that funds are otherwise available to the District to pay for the Facilities and/or the principal and interest as it becomes due on bonds of the District issued to finance the Facilities, a special tax sufficient to pay the costs thereof, secured by recordation of a continuing lien against all non-exempt real property in the District, is intended to be levied annually within the District, and collected in the same manner as ordinary ad u¢lorem property taxes. The proposed rate and method of apportionment of the special ta~c among the parcels of real property within the District, in suff`icient detail to allow each landowner within the proposed District to estimate the maximum amount such owner will have to pay, are described in Exhibit B attached hereto, which exhibit is by this reference incorporated herein. 8. It is the intention of this City Council acting as the legislative body for the District to cause bonds of the City to be issued for the District pursuant to the Act to finance in whole or in part the Facilities. Said bonds shall be in the aggregate principal amount of not to exceed $4,000,000, shall bear interest payable semi-annually or in such other manner as this City Council shall determine, 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 shall mature not to exceed 40 years from the date of the iesuance thereof. 9. The levy of said proposed special tax shall be subject to the approval of the qualif`ied electors of the District at a special election. The proposed voting procedure ehall be by mailed or hand-delivered ballot among the landowners in said proposed Dietrict, with each owner having one vote for each acre or portion of an acre such owner owas in the District. 10. Except as may otherwise be provided by law or by the rate and method of apportionment of the special taxes set forth in Exhibit B, all lands owned by any public entity, including the United States, the State of California and/or the City, or any departments or political subdivisions thereof, shall be omitted from the levy of the special tax to be made to cover the costs and expenses of the Facilities. In the event that a portion of the property within the District shall become for any reason exempt, wholly or in part, from the levy of the special ta~c described in Exhibit B, this City Council will, on behalf of the District, increase the levy to the extent necessary upon the remaining property within the District which is not exempt in order to yield the required debt service payments and other annual expenses of the District, if any, subject to any maximum special tax that may be levied. 11. The Director of Public Works of the City of Lake Elsinore, as the of~'xcer having charge and control of the Facilities in and for the District, is hereby directed to study said proposed Facilities and to make, or cause to be made, and file with the City Clerk a report in writing, presenting the following: (a) A description of the Facilities by type which will be required to adequately meet the needs of the District. (b) An estimate of the fair and reasonable cost of financing the Facilities including the cost of acquisition of lands, rights-of-way and easements, any physical facilities required in conjunction therewith and incidental expenses in connection with said financing, including the costs of the proposed bond financing and all other related costs as provided in Section b3346.3 of the Act. Said report shall be made a part of the record of the public hearing provided for below. 12. Tuesday, October 22, 1991, at 7:00 p.m., in tbe regular meeting place of this City Council, in the School Board meeting room of the Lake Elsinore Unified School District, 545 Cheney 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 establishment of the District and consider and finally determine whether the public interest, convenience and necessity require the formation of the District and the levy of said special tax. 13. The City Clerk is hereby directed to cause notice of said public hearing to be given by publication one time in a newspaper published in the area of the District. The publication of said notice shail be completed at least seven days before the date herein set for said hearing. Said notice shall be substantially in the form of Exhibit C hereto. 14. The law firms of Jones Hall Hill & White, A Professional Law Corporation, and Harper & Burns are hereby designated as co-bond counsel to the City in connection with the formation of the District and the special tax bonds expected to be issued by the City for the District. The Director of Administrative Services of the City or his designee is hereby authorized to execute and deliver agreements with said firms for services in connection with the District and said bonds in the forms on file with the City Clerk. 15. First California Capital Markets Group, Inc. is hereby designated as financing consultant to the City in connection with the establishment of the District and the issuance of special tax bonds of the City for the District. The Director of Administrative Services is hereby authorized to execute and deliver an agreement with said firm for its services in connection with the District. 16. The firm of BSI Consultants, Inc. is hereby designated as District Engineer and Special Tax consultant to the City in connection with the District. The Director of Administrative Services is hereby authorized and directed to execute and deliver agreement with said firm for its services in connection with the District. ++*~*~*~+*~~ PASSED AND ADOPTED this lOth day o€September, 1991, by the following vote: AYES: COUNCILMEMBERS: BUCK, DOMINGUEZ, STARKEY, ~!INK.LER, WASHBURN NOES: COUNCILMEMBERS: NO ABSENT: COUNCILMEMBERS: N ~~~ ~ Lake Elsinore (SEAL) Att st: By - - _ Vicki Kasad, City Clerk City of Lake Elsinore AP?RQVED {{S TO FORP1: I Jo n R, Harper, ity Attorney ~TTA DESCRIPTION OF FACIIITIES TO BE FIlVANCED BY THE DLSTILICT City of Lake Elsinore Community Facilities D'astrict No. 91-4 (Scenic Ridge Public Impmvements) FACILITIES: A. Grading. The grading for the public streets and public access roads within and in the area of the CFD. More specifically, the grading for: Scenic Ridge Drive from Tract 20705 to its North terminus at Estate Drive; Estate Drive East to its connection at Summerhill Drive; Hillview Place Northerly; and that portion of Summit View Street to the West boundary of the CFD. B. Street Improvements. The street improvements consist of the curb, gutter, sidewalk, paving, street lights, storm drain and utilities in the public streets and public easement~ within and in the area of the CFD. More specifically for: Scenic Ridge Drive East from 'I`ract 20705 to its North terminus at Estate Drive; East Drive East through Tract 17413-3 to its connection at 5ummerhill Drive; Hillview Place Northerly; and that portion of Summit View Street to the West boundary of the CFD. Also included is a portion of the costs to improve Railroad Canyon Road attributable to the land within the CFA C. Domestic Water. The domestic water system consists of pressure reducing stations; future expansion to the West property along Estate Drive and the distribution mains ~and appurtenances in the public streets within and in the area of the CFD. More specifically, in: Estate Drive from its connection between Lots 73 and 74 of Tract 17413-3 to its West terminus; South on Scenic Ridge Drive to its connection with Tract 20705; Hillview Place; and that portion of Summit View Street to the West boundary of the CFD. D. Sanitary Sewer. The sewer system consists of gravity sewer, manholes, force mains and appurtenances in public streets and public easements within and in the area of the CFD. More specifically in: Estate Drive from its West Boundary to its terminus; South on Scenic Ridge Drive to its connection with Tract 20705; Hillview Place; and that portion of Summit View Street to West boundary of the CFD. OTHER: 1. Costs of engineering, design, planning and coordination related to the above-listed facilities. 2. Bond related expenses, including bond counsel and all other incidental expenses. 3. Administrative fees of the City, the Lake Elsinore Public Financing Authority and any Bond fiscal agent related to the District and the Bonds. E7~TT B RATE AND METHOD OF APPORTIONMENT OF SP~CIAL TAXES CTTY OF LAKE ELSINORE Community Facilities District No. 91-4 (Scenic Ridge Public Improvements) A special tac shall be levied on each Parcel of land within the City of Lake Elsinore Community Facilities District No. 91-4 (Scenic Ridge Public Lnprovements)(the "District"), and collected according to the special tax liability determined by d~e Responsible Party of the City of Lake Elsinore (the "City") through the application of the following procedures. All of the property within the District, unless otherwise exempted by law or the express provisions of the rate and method of apportionment expressed below, shall be taxed to the extent and in the manner provided below. It is intended that all special taxes applicable to Parcels within Category I, Category III or Category V be collected in the same manner and at the same time as ordinary ad valorem property ta~ces, and that special taxes so levied will be subject to the same penalties and procedures, sale and lien priority in case of delinquency as is provided for ad valorem taxes, subject to any covenant of the City with respect thereto in any Fiscal Agent Agreement for any bonds of the City for the Disirict. Special ta~ces applicable to Categories II and IV will be levied at the times described below, and will be collected d'uecdy by the Responsible Party of the City as described below. CATEGORIES OF SPECIAL TAX CATEGORY I: Category I includes all Taxable Property in the District not subject to a special tax under Category III or Category V. The Category I special ta~c will be levied annually. The maximum special taac that may be levied on Parcels within Category I during the Fiscal Year ending June 30, 1992 is $30,000 per acre (said amount to be levied pro nta for any portion of an acre) of a Pazcel. Said m~imum special tax shall increase each Fiscal Year thereafter by 2%, compounded annually. CATEGORY II: The Category II special tax is a one-time tac, payable at the time of approval of a final map with respect to a ParceL The Category II special ta~c is calculated by subtracting the number of Parcels shown on the final map from the number of estimated Parcels in a track as shown in the following table. The applicable special tax is calculated by multiplying the difference by the tax rate described in the table below. CATEGORY II Special Tax for Each Developable Parcel by Projected Which Final map is Less Developable Than the Projected Tract No. Pazcels Developable Parcels 22904 81 $51,650 The special tac rate shown in this table are for tlie Parcels for which a final map is recorded in the Fiscal Year ending 7une 30, 1992. The special tax rate for Parcels for which a final map is recorded in subsequent years shall increase each Fiscal Yeaz thereafter by 2%, compounded annually. CATEGORY III: Any Parcel for which a final map has been recorded and for which Category II special taxes have been paid, if applicable, will be classified in Category IlI, until such time as a building permit has been issued. If Category II special ta~ces are applicable to the Parcel but have not been paid when due, such Parcels on a final map will continue to be classified in Category I. The ma~cimum special tac applicable to Parcels in Category III is shown below for the Fiscal Year ending June 30, 1992. The ma~cimum special tax rate for the Parcels classified in Category III shall increase each Fiscal Year thereafter by 2%, compounded annually. CATEGORY III Maximum Txact No. Special Tax per Parcel 22904 $5,950 CATEGORY IV: The Category IV special tax is a one-time tax payable at the time of the issuance of a building perrnit, based on the calculation of Category IV special tax per the following schedule. The applicable special tax per Parcel is calculated as shown in the following table, based on the average projected Square Foot per Parcel as shown below. CATEGORY IV Average Projected Square Feet Tract No. per Parcel 22904 3,002 Tnct No.: 22904 CALCULATION OF CATEGORY IV TAX Item 1. 1. Average Prc~jected Squaze Feet per Parcel 2. 2. Number of Building Pemuts Already Issued 3. 3. Square Feet of Building Pernuts Already Issued 4. 4. Number of Building Pertnits Requested 5. 5. Squaze Feet of Building Pernuts Requested 6. 6. Total of Items 2 and 4 7. 7. Total of Items 3 and 5 8. 8. Average Square Feet To-Date (Item 7 divided by Item 6) 9. 9. If Item 8 is Equal to or Greater than Item i, There is no Tax Due 10. 10. Item 1 minus Item 8 11. 11. Item 10 Multiplied by Item 6 12. 12. Applicable Category V Square Foot Special Tax 13. 13. Item 11 Multiplied by Item 12 14. 11.58 14. Present Value Factor 15. 15. Item 13 Multiplied by Item 14 16. 16. Amount Previously Paid in Tract (from prior calculations) 17. 17. Item 15 minus Item 16 18. 18. One-Time Ta~c per Parcel on Building Permits Being Requested (Item 17 divided by Item 4) 3. If the aggregate amount to be levied based on 1 above is less than the aggregate Ta~c Liability for such Fiscal Year, levy on each Parcel described in Category V as provided in 1 above, and levy on each Parcel described in Category III an amount equal to 75 % of die Category III ma~cimum special tax. 4. If the aggregate amount to be levied based upon 3 above is greater than ihe aggregate Ta~c Liability for such Fiscal Year, reduce the special tax levy for each Parcel described in Category III proportionately, until the aggregate special tax levy for such Fiscal Year for all Parcels within the District is equal to the aggregate Ta~c Liability for sucli Fiscal Year. 5. If the aggregate amount to be levied based upon 3 above is less than the aggregate Ta~c Liability for such Fiscal Yeaz, levy as described in 3 above, and levy on each Parcel described in Category I an amount equal to 50% of the Category I max'vnum special [ax. 6. If the aggregate amount to be levied based upon 5 above is greater than the aggregate Tax Liability for such Fiscal Year, reduce the special tax levy for each Parcel described in Category I proportionately,. until the aggregate special tax levy for such Fiscal Year for all Parcels within the District is equal to the aggregate Ta~c Liability for such Fiscal Year. 7. If the aggregate amount to be levied based upon 5 above is less than the aggregate Tax Liability for such Fiscal Yeaz, levy on each Parcel described in Category V an amount equal to 100% of the Category V ma~cimum special [ac, levy on each Parcel described in Category III an amount equal to 75 % of the Category III maximum special tax, and levy on each Pazcel described in Category I an amount equal to 50% of the Category I maxunum special tax. 8. If the aggregate amount to be levied based upon 7 above is greater than the aggregate Tax Liability for such Fiscal Yeaz, reduce the special tax levy for each Parcel described in Category V proportionately, until the aggregate special ta~c levy for such Fiscal Year for all Pazcels within the District is equal to the aggregate Tax Liabiliry for such Fiscal Year. 9. If the aggregate amount to be levied based upon 7 above is less than the aggregate Tax Liability for such Fiscal Year, levy an each Parcel described in Category V or Parcel described in Category III an amount equal to 100% of the Category V or Category III, respecUvely, ma~cimum special tax, and levy on each Pazcel described in Category I an amount equal to 50% of the Category I maximum special ta~c. CATEGORY V: Category V includes all Parcels for which a building pernut has been issued and for which a Category II and IV special ta~c has been paid, if appiicable. ff for any reason a Category II or IV special taac is or was payable, but not paid when due, Parcels for which a building permit has been issued will be taxed at the rates applicable to Taxable Property described in Category I. The maximum specia4 taac for Parcels described in Category V for the Fiscal Year ending 7une 30, 1992 is the total of $615.00 per Parcel plus $1.38 per Square Foot for each Square Foot shown on die building permit. Each Fiscal Year thereafter, the per Parcel and the per Squaze Foot rate listed above will increase by 2%, compounded annually. A Parcel will be subject to the Category V special tax for not more than 30 years. ASSIGNMENT' TO CATEGORIES; LEVY ANNUAL TAX CATEGORIES On or about July 1 of each year, but in any event in sufficient time to include the levy of the special taxes on the County's secured tax roll, the Responsible Party shall determine, for each Parcel of land within the District, whether such Parcel is described by Category I, Category III or Category V. The Parcels subject to levy shall be detemiuied based upon the records of the Riverside County Assessor as of the March 1 preceding such July 1, and the Tax Category shall be determined based upon the status of the Parcel as of the May 1 preceding such July 1. The Responsible Party shall then deternune the estimated aggregate Ta~c Liability for the Fiscal Year eommencing such 7uly 1, and the amount of annual special ta~ces to be levied on each Pazcel in the District during such Fiscal Year. The annual special ta~ces shall be detemuned for each Parcel in the District as follows: 1. Levy on each Parcel described in Category V an amount equal to 94% of the Category V maximum special tax. 2. If the aggregate amount to be levied based on 1 above is greater than the aggregate Tax Liabiliry for such Fiscal Year, reduce the special ta~c for each Parcel described in Category V proporiionately, so that fhe aggregate special tax levy for such Fiscal Year for all Parcels within the District is equal to the aggregate Tax Liability for such Fiscal Year. 10. If the aggregate amount to be levied based upon 9 above is greater than the aggregate Tax Liability for such Fiscal Year, reduce the special ta~c levy for each Parcei described in Category III proportionately, until the aggregate special ta~c levy for such Fiscal Year for all pazcels within il~e District is equal to the aggregate Ta~c Liability for such Fiscal Year. 11. If the aggregate amount to be levied based upon 9 above is less than die aggregate Tax Liability for such Fiscal Year, levy on each Parcel described in Category I, III or V, an amount equal to the maximum special tax described in Category I, III or V, respectively. 12. If the aggregate amount to be levied based upon 11 above is greater than the aggregate Tax Liability for such Fiscal Year, reduce the special tax levy for each Parcel described in Category I proportionately, until the aggregate special tax levy for such Fiscal Year for all Parcels within the District is equal to the aggregate Tax Liabiliry for such Fiscal Year. ONE-TIlbIE TAX CATEGORIES On the date of approval of a final map with respect to any portion of the real property in the District, the Responsible party shall levy and collect a special ta~c in the amount described above for Category II. On the date a building permit is issued for any Parcel within the Disirict, the Responsib]e Party shall levy and collect a special tax in the amount described above for Category IV. Failure to pay a Category II or Category IV special taac when due shall result in the applicable Parcel remaining subject to a Category I special tax, notwithstanding that the Parcel would otherwise be described in Category III or Category V. PREPAYII~NTS Prepayments may be made only for property subject to tax under Category V. Any properiy owner in the District that desires to prepay the annual special taxes on a particulaz Parcel, shail nodfy [he Responsible Party in writing of such intention and the estimated amount of prepayment no more than sixty (60) days and no less than forry-five (45) days prior to date of such prepayment, which date (the Prepayment Date) shall be a date which is sixty (60) days prior to an interest payment date for the Bonds. The entire aiuiuat special taxes for any Parcel in the District may be prepaid on a Prepayment Date as follows: (a) The Pazcei with respect to which prepayment is to be made must not be delinquent in any payment of special ta~ces previously levied within the District. Prepayment shall not relieve any property owner from paying those special ta~ces which have akeady become due and payable, and a Notice of Cessation of Special Tax Lien shall not be recorded against any Parcel pursuant to California Government Code Section 53344, until all special ta~ces with respect to that Parcel have been paid. (b) The aggregate maximum annual special taxes for the Parcel with respect to which prepayment is to be made, as of the Prepayment Date, shall be calculated based upon the maxunum annual special taxes described by Category V that could be levied on that Pazcel in all future years. (c) The net present value of the future annual special taxes calculated above will be detemuned based on an interest rate of eight percent (8 %), which may be decreased or increased by the Responsible Party to reflect the net interest costs on the Bonds. (d) Any applicable prepayment premium on the Bonds shall be applied to the aggregate amount determined under (c) above. (e) The amount to be prepaid for any Pazcel of property shall be the sum of the amounts calculated for that Pazcel under paragraphs (c) and (d) above, plus the reasonable costs and expenses of performing the calculations, preparing and recording ihe Notice of Cessation of Special Taac Lien and any other acts or procedures required to be performed in connection with the prepayment, as determined by the Responsible Party. DEFINTi'IONS Adininistrative Fees or Eapenses means any or all of the following: the fees and expenses of the Fiscal Agent (including any fees or expenses of its counsel), the expenses of ihe City in carrying out its duties with respect to the District (including, but not limited to, the levy and collection of the special taxes) including the fees and expenses of its counsel, any fees of the County of Riverside related to the District or the collection of special taxes, an allocabie share of the salaries of the City staff directly related thereto and a proportionate amount of City general admuusiraUve overhead related thereto, any amounts paid by the City from its general funds with respect to the District or the Bonds, and all other costs and expenses of the City or the Fiscal Agent incurred in connection with die discharge of their respective duties under the Fiscal Agency Agreement and, in the case of the City, in any way related to administration of the District. _,. Bonds means any bonds of the City issued for the Dish-ict under Mello-Roos Community Facilities Act of 1982, as amended. City means the Ciry of I.ake Elsinore. Debt Service, for each Fiscal Yeaz, is the total annual principal and interest paymeni on the Bonds during the calendar year which commences in such Fiscal Year, less any capitalized interest and any other amounts remaining in the debt service fund held under the Fiscal Agent Agreement as of the end of the previous Fiscal Year (other than by reason of the payment of Category II and IV special ta~ces). District means the City of Lake Elsinore Community Facilities District No. 91-4 (Scenic Ridge Public Improvements). Fiscal Agent means the Fiscal Agent under the Fiscal Agent Agreement. Fiscal Agent Agreement means the agreement by that name approved by the Resoludon of Issuance, and as it may be amended and/or supplemented from time to time. Fiscal Year means the period starting on July 1 and ending the following 7une 30. Parcel means any Riverside County Assessor's Parcel or portion thereof that is within the boundaries of the District based on the equalized ta~c rolls of the County of Riverside. Resolation of Issuance is any Resolution adopted by the City authorizing the issuance of Bonds. Responsible Party is any person or persons who the City may appoint from time to time to compute the lery of the special ta~ces within the Disa-ict. Square Foot or Square Feet is the square footage of a single family dwelling unit measured at the exterior walls, but excluding (i) garages, carports, roof overhangs, passageways and patios which aze both unenclosed and uncovered, and (ii) tool sheds, greenhouses and similar detached structures. Tax Categories are those categories set forth in the body hereof. Tax Liability for any Fiscal Year is an amount sufficient to pay Debt Service for such Fiscal Year, Administrarive Fees or Expenses for such Fiscal Year, an amount determined by the Responsible Party to offset past delinquencies and projected tax delinquencies to occur in such Fiscal Year, and all payments required to be made in the applicable Fiscal Year under the Fiscal Agent Agreement for the Bonds and any supplements thereto. Taxable Property is all real property within the boundaries of the Disti-ict which is not exempt from the special tax pursuant to law, except that the follow'vig property shall not be taxed: any acres of land owned by a public agency, or a non profit home owners association, or land which is a public right of way or wluch is an unmanned utiliry easement making impractical its utili~ation for other than the purpose set forth in the easement. PROP~~~D~ ~OUN~A~~' 1~~~~I~ CITY OF LAKE ELSIi~ORE COMI~~UNITY FACILITIES DISTRIC'I' N0. ~1-~ (SC~NIC RIDG~ PUBLIC IMPI?OVEMENTSj C!~UI`JTY OF RIV~RSIDE, CALIFOR~~JIA L~UEf.U GO~T LJi ~ ~ - - as. e<~~s ~i '-~ ASSESSUit'~ P: .~__ NUI:3'R ' ~- ~ 1 LOT NUh4o~R ~. / -___ PAF.CEL LINE I ~ ~ \ ~or c ~ BOUNDP~~i LIfJ~ I ~ %~ :, _ , vaWEQ '~.*F c~< 63 ~ ~. _'_ 48 5G I ~ 'ter, _ ~ I ~ ; ~ ' ~ ~CnN =:DGE~ [-.. ~ ~ ~ 64 j ef_, 47 80 81 rOm ~ II ~ \ ~ ' C / ~S Fs~q)f UA4MCkFy'. I I 48 .` I i~ ESiaiE DR~~'E LOi H I 9S%Yp ~o~,o DR~yE I s2 Sl _~ HS rtimvrc. ~1 ~I39 38 37 36 5~ Pc~, v.t~~e0c:-~co ~ I ~ 58 ' ~akc VIC~'!iTY LIAP ' ~ 35 Sy ~ SHORE oy qi ~~ t- I . I LOT F ~, 34 S`" 51 I N ~ ~33 aP 60 ~ 61 ° ~2 62 ~~ 6 52 ~m m ~ o' `6~ ~ s rc I ~~ ~ 65 53 I n tc 2° ¢° ~~ 54 23 : ~ ~~ ~! 67 5$ ~a iNE BWrvOnRY OF irE PRG~OS[D CO~~u.~H~~~ `+GU~cS JiSi"eiC~ dEiGF ~ 68 ~~ ih'E fnST NnLf 0~ *NE SOUMEn51 OuFFi~e ;= SECi:/: 4 TOx+:SwP E 15 ~~ SB $OUIH. RANGE 4 NESi, SNN bEPNARDiBO M[F.='T:, IL TdE C~iT C'~ LPeE ie ~ 26 f`~ 69 ELSiNORE COUN7Y 0~ RIVERSiDE. SiAiE 0~ G~!~~Ni~. 13 ='~`°- ?~ ~ FlLED IN THE OFfICE OP THE CITY CLER¢ 0~ T, E QT' O' LAKE ELS~NbSE. 1L ~r24 2 ~I ' TMIS ___________ OAY O{ ___ , 1cq. ~ G J~ ]~I ~OT E t 1 c~-~L~~ ~3 CrtY CIERN G~ 1HE OtY OF I.CD ;I,~Z ~j , 7q I LAHE ELSINORE 5. ?i ~ 75 `~\ ~ 76 ~` ~ I HEREBY CEFiIPT 1HFi MC wiHIN M< ~~ ._'~OS ~ ~ Z~, ~. ~~ ~ ~ OOUrv~ARIES OF C~~~ Of LAhE E~9N0 ~~ ~1~E5 C~ ~~ ~-~ ' N0. 9i-4. (SCENiC RiDGE Pu~Li iMPk v_'~ ~nn ~t ~~._ 1.~~,u y;H g5 -~ ~ COUrviv OF RIVER5i0E. SiPiE OF CnLi~ ,< ~E~ e7 1~ CIiT COUNCII OP THE CIiY C~ LlNE E s vr, 'l4R Y 5 cJ C ~\ 79 / ~EE~~NG'IHEREOf, HEL~ ON TNE G __ ~ c ~~ j ~< S 1_ : ~ / /I ~ I15 RESO~ViION NO- ___-____~ _-_. ~~ •~ ~~ ~ _- -___. zo;os ' ~~-~n i? t96/21 I OTV RFRH O~ Ti: Oh' Ui ~ Lnxi RS~NOFE FlLED 1HiS _ Dnv 0% __________~ 'SiL :.1 fHE nG_•~ J: _____ CCLOC~: ____ ~•. u: EDC.. ______ ": ;o.pc nr ASSESSMENI AND GOhIbUN1iV ff~Cl~liIES DI<iF ]55, P.~[ NO. _ ___ PS INSiRUMENT N0. ______ -_____ . i~. --`.Dfi'iCE Jc iHC COUNTY RECORDER IN 41E CUUNTT OP iiv?RE~:E ci~- OF CF'J~if',',~ ~ COUNiv FECORDER OP iHE COUMY OP RIVERSiDE __' S- S~EE* ! .- yn~~.w o'~~-~~+~^ REPERENCE ~NE RrvER51GC COUH1r t$SESSO~S ~+aPS ~OR A DCiAllF.O GCSC~~vIV?td "v~ PAR:F_ L.~.: -: ::i'+SIOUS II~IT C NOTICE OF PUBLIC HEAItING City of Lake Elsinore Community Facilities District No. 91-4 (Scenic Ridge Public Improvements) Notice is hereby given that on September 10, 1991, the City Council of the City of Lake Elsinore adopted a Resolution entitled "A Resolution 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". Pursuant to the Mello-Roos Community Facilities Act of 1982 (the "Act"), the City Council hereby gives notice as follows: A The text of said Resolution of Intention is as follows: RESOLVED by the City Council of the City of Lake Elsinore (the "City") that: WHEREAS, under the Mello-Roos Community Facilities Act of 1982, as amended (the "Act"), Chapter 2.6 of Part 1 of Division 2 of Title b, commencing at Section 53311, of the California Government Code, this City Council may act as the legislative body for proposed community facilities districts and is empowered with the authority to establish community facilities districts; and WHEREAS, this City Council has received a petition requesting that this City Council establish a community facilities district under the Act and an executed Agreement Regarding Advances (the "Agreement"), whereby the landowner within the proposed community facilities district is willing to advance the funds necessary to form the district; and WHEREAS, this City Council, with the sid of City staff, has reviewed the petition and the Agreement and found them to be in proper form and now desires to proceed with the establishment of a community facilities district under the Act. NOW, THEREFORE, IT IS HEREBY ORDERED as follows: 1. This City Council proposes to conduct proceedings to establish a wmmunity facilities district pursuant to the Act. 2. This City Council hereby acknowledges receipt of a petition to form a community facilities district (the "District") in the Scenic Ridge area of the City. 3. This City Council hereby approves the Agreement and ratifies its execution by the City, and authorizes appropriate City personnel to_expend the deposit referred to therein in the manner specified in the Agreement. It is expected that the City will reimburse any amounts so expended from the proceeds of the bonds referred to below, in the manner specified in the Agreement. 4. The name proposed for the District is City of Lake Elsinore Community Facilities Dietrict No. 91-4 (5cenic Ridge Public Improvements). b. The proposed boundaries of the District are as shown on the map of the District on file with the City Clerk, which boundaries are hereby preliminarily approved and to which map reference is hereby made for further particulars. The City Clerk is hereby directed to record, or cause to be recorded, said map of the boundaries of the District in the office of the County Recorder within fifteen days of the date of adoption of this Resolution. 6. The type of public facilities proposed to be financed by the Dietrict and pursuant to the Act shall consist of those items listed as £acilities (the "Facilities") on Exhibit A hereto, which e~ibit is by this reference incorporated herein. 7. Except to the extent that funds are otherwise available to the District to pay for the Facilities and/or the principal and interest as it becomes due on bonds of the District issued to finance the Facilities, a special tax sufficient to pay the costs thereof, secured by recordation of a continuing lien against all non-exempt real property in the District, is intended to be levied annually within the District, and collected in the same manner as ordinary ¢d valorem property taxes. The proposed rate and method of apportionment of the special tax among the parcels of real property within the District, in suff`icient detail to allow each landowner within the proposed District to estimate the maximum amount such owner will have to pay, are described in E~chibit B attached hereto, which exhibit is by this reference incorporated herein. 8. It is the intention of this City Council acting as the legislative body for the District to cause bonds of the City to be issued for the District pursuant to the Act to finance in whole or in part the Facilities. Said bonds shall be in the aggregate principal amount of not to exceed $4,000,000, shall bear interest payable semi- annually or in such other manner as this City Council shall determine, 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 shall mature not to exceed 40 years from the date oF the issuance thereof. 9. The levy of said pmposed special tax shall be subject to the approval of the qualified electors of the District at a special election. The proposed voting procedure shall be by mailed or hand-delivered ballot among the landowners in said proposed District, with each owner having one vote for each acre or portion of an acre such owner owns in the District. 10. Except as may otherwise be provided by law or by the rate and method of apportionment of the special taxes set forth in Exhibit B, all lands owned by any pubiic entity, including the United States, the State of California and/or the City, or any departments or political subdivisions thereof, shall be omitted from the levy of the special tag to be made to cover the costs and expenses of the Facilities. In the event that a partion of the groperty within the District shall become for any reason exempt, wholly or in part, from the levy of the special tax described in Exhibit B, this City Council wili, on behalf of the District, increase the levy to the extent necessary upon the remaining property within the District which is not exempt in order to yield the required debt service payments and other annual expenses of the District, if any, subject to any maximum special tax that may be levied. 11. The Director of Public Works of the City of Lake Elsinore, as the officer having charge and control of the Facilities in and for the District, is hereby directed to study said proposed Facilities and to make, or cause to be made, and file with the City Clerk a report in writing, presenting the following: (a) A description of the Facilities by type which will be required to adequately meet the needs of the District. (b) An estimate of the fair and reasonable cost of financing the Facilities including the cost of acquisition of lands, rights-of-way and easements, any physical facilities required in co~junction therewith and incidental expenses in connection with said financing, including the costs of the proposed bond financing and all other related costs as provided in Section 53345.3 of the Act. Said report shall be made a part of the record of the public hearing provided for below. 12. Tuesday, October 22, 1991, at 7:00 p.m., in the regular meeting place of this City Council, in the School Board meeting room of the Lake Elsinore Unified School District, 545 Cheney 5treet, 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 establishment of the District and consider and finally determine whether the public interest, convenience and necessity require the formation of the District and the levy of said special tax. 13. The City Clerk is hereby directed to cause notice of said public hearing to be given by publication one time in a newspaper published in the area of the District. The prablication of said notice shall be completed at least seven days before the date herein set for said hearing. Said notice shall be substantially in the form of Exhibit C hereto. 14. The law firms of Jones Hall Hill & White, A Professional Law Corporation, and Harper & Burns are hereby designated as co-bond counsel to the City in connection with the formation of the District and the special tax bonds expected to be issued by the City for the District. The Director of Administrative Services of the City or his designee is hereby authorized to execute and deliver agreements with said firms for services in connection with the District and said bonds in the forms on file with the City Clerk. 15. First California Capital Markets Group, Inc. is hereby designated as financing consultant to the City in connection with the establishment of the District and the issuance of special ta~c bonds of the City for the District. The Director of Administrative 5ervices is hereby authorized to execute and deliver an agreement with said firm for its services in connection with the District. 16. The firm of BSI Consultants, Inc. is hereby designated as District Engineer and Special Tax consultant to the Gity in connection with the District. The Director of Administrative Services is hereby authorized and directed to execute and deliver agreement with said firm for its services in connection with the District. B. The time and place established under said Resolution for the public hearing required under the Act are Tuesday, October 22, 1991, at the hour of 7:00 p.m., in the regular meeting place of the City Council of the City of Lake Elsinore, in the School Board meeting room of the Lake Eisinore Unified School District, 545 Cheney Street, Lake Elsinore, California. C. At said hearing, the testimony of all interested persons or taxpayers for or against the estabIishment of the district, the extent of the district or the furnishing of the specified types of facilities will be heard. .Any person interested may file a protest in writing as provided in Section 53323 of the Act. If the owners of one-half or more of the area of land in the territory proposed to be included in the district file written protests against the establishment of the district and the protests are not withdrawn to reduce the value of the protests to less than a majority, the City Council shall take no further action to establish the district for period of one year from the date of said hearing, and if the majority protests of the landowners are only against the fumishing of a type or types of facilities within the district, or against levying a specified special tax, those types of facilities or the specified special tax will be eliminated from the proceedings to form the district. D. The proposed voting procedure shall be by special mail or hand-delivered ballot to the property owners within the territory proposed to be included in the district. Dated: September 11,1991 fs/ Vicki Kasad City Clerk, City of Lake Elainore STATE OF CALIfORNIA ) COUNTY OF RIVERSIDE ) SS: CITY OF LAKE ELSINORE ) I, Vicki Lynne 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 September, 1991, and that it was so adopted by the following vote: AYES: COUNCILMEMBERS: BUCK, DOMINGUEZ, STARKEY, WINKLER, WASHBURN NOES: COUNCILMEMBERS: NONE ABSENT: COUNCILMEMBERS: NONE ABSTAIN: COUNCILMEMBERS: NONE ~ ~j--~ VICKI LYNNE ASAD, CITY CL CITY OF LAK ELSINORE (SEAL) STATE OF CALIFORNIA ) COUNTY OF RIVERSIDE ) SS: CITY OF LAKE ELSINORE ) I, Vicki Lynne Kasad, City Clerk of the City of Lake Elsinore, DO HEREBY CERTIFY that the above antl foregoing is a full, true and correct copy of Resolution No. 91-71 of said Council, and that the same has not been amended or repealed. D TED: September 11, 1991 ~ i i~,~~..~-"~"'. VICKI LYNNE SAD, CITY CLERK CITY OF LFl~E LSINORE (SEAL)