HomeMy WebLinkAbout2018-2412
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RESOLUTION NO. 2018-241
RESOLUTION OF THE MAYOR AND CITY COUNCIL OF THE CITY OF SAN
BERNARDINO, CALIFORNIA, DECLARING ITS INTENTION TO INCUR BONDED
INDEBTEDNESS IN AN AMOUNT NOT TO EXCEED $5,000,000 WITHIN
PROPOSED CFD NO. 2018-2 OF THE CITY OF SAN BERNARDINO
WHEREAS, the City Council of the City of San Bernardino (the "City Council") upon
receipt of a petition as provided in Section 53318 of the Government Code of the State
California instituted proceedings to form Community Facilities District No. 2018-2 (Verdemont
Ranch) of the City of San Bernardino ("Community Facilities District No. 2018-2" or the
"District") pursuant to the Mello -Roos Community Facilities Act of 1982 (the "Act"), as
amended, pursuant to Resolution No. 2018-240 adopted by the City Council on the date hereof to
finance (1) the purchase, construction, modification, expansion, improvement and/or
rehabilitation of public facilities identified in Attachment "A" hereto and incorporated herein by
this reference, including all furnishings, equipment and supplies related thereto (collectively, the
"Facilities") and (2) the incidental expenses to be incurred in financing the Facilities and forming
and administering the District (the "Incidental Expenses"); and,
WHEREAS, the City Council estimates that the amount required to finance the Facilities J
and Incidental Expenses is approximately $5,000,000; and,
WHEREAS, in order to finance the Facilities and Incidental Expenses, the City Council
intends to authorize the issuance of bonds in the maximum aggregate principal amount of
$5,000,000, the repayment of which is to be secured by special taxes levied in accordance with
Section 53328 of the Act on all property in the proposed Community Facilities District No.
2018-2, other than those properties exempted from taxation in the rate and method
apportionment set forth in Attachment "C" to Resolution No. 2018-240.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SAN
BERNARDINO, CALIFORNIA, HEREBY FINDS, DETERMINES, RESOLVES, AND
ORDERS AS FOLLOWS:
SECTION 1. The above recitals are true and correct.
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SECTION 2. It is necessary to incur bonded indebtedness within the boundaries
proposed Community Facilities District No. 2018-2 in an amount not to exceed $5,000,000 to
finance the costs of the Facilities and Incidental Expenses, as permitted by the Act.
SECTION 3. The indebtedness will be incurred for the purpose of financing the costs of
the Facilities and the Incidental Expenses, including, but not limited to, the funding of reserve
funds for the bonds, the financing of costs associated with the issuance of the bonds and all other
costs and expenses necessary to finance the Facilities which are permitted to be financed
pursuant to the Act.
SECTION 4. It is the intent of the City Council to authorize the sale of bonds in one or
more series, in the maximum aggregate principal amount of $5,000,000 and at a maximum
interest rate not in excess of 12 percent per annum, or a higher rate not in excess of the maximum
rate permitted by law at the time that the bonds are issued. The term of the bonds of each series
shall be determined pursuant to a resolution of this City Council acting in its capacity as the
legislative body of the District authorizing the issuance of the bonds of such series, but such term
shall in no event exceed 35 years from the date of issuance of the bonds of such series, or such
longer term as is then permitted by law.
SECTION 5. A public hearing (the "Hearing") on the proposed issuance of bonded
indebtedness shall be held at 5:00 p.m., or as soon thereafter as practicable, on September 19,
2018, at the City Council Chamber, 201 North "E" Street, San Bernardino, California.
SECTION 6. At the time and place set forth in this Resolution for the Hearing, any
interested persons, including all persons owning land or registered to vote within proposed
Community Facilities District No. 2018-2, may appear and be heard.
SECTION 7. The Clerk of the Board is hereby directed to publish a notice (the
"Notice") of the Hearing pursuant to Section 6061 of the Government Code in a newspaper of
general circulation published in the area of the proposed Community Facilities District No. 2018-
2. Such publication shall be completed at least seven days prior to the date of the Hearing. The
Clerk of the Board is further directed to mail a copy of the Notice to each of the landowners
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within the boundaries of proposed Community Facilities District No. 2018-2 at least 15 days
prior to the Hearing.
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RESOLUTION OF THE MAYOR AND CITY COUNCIL OF THE CITY OF SAN
BERNARDINO, CALIFORNIA, DECLARING ITS INTENTION TO INCUR BONDED
INDEBTEDNESS IN AN AMOUNT NOT TO EXCEED $5,000,000 WITHIN
PROPOSED CFD NO. 2018-2 OF THE CITY OF SAN BERNARDINO
I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the Mayor and
City Council of the City of San Bernardino at a Joint Regular Meeting thereof, held on the 15th
day of Asst 2018, by the following vote, to wit:
Council Members: AYES NAYS ABSTAIN ABSENT
MARQUEZ
BARRIOS
VALDIVIA
SHORETT
X
NICKEL
u
RICHARD
MULVIHILL
Georges Hanna, C City Clerk
The foregoing Resolution is hereby approved this 15"' day of August 2018.� 1, z n,
-, C- '
R. Carey Davis Mayor
City of San Be iardino
Approved as to form:
Gary D. Saenz, City Attorney
In
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ATTACHMENT A
Types of Facilities To Be
Financed By Community
Facilities District No. 2018-2
The proposed types of public facilities and expenses to be financed by the District
include:
The construction, purchase, modification, expansion, rehabilitation and/or improvement
of drainage, water, sewer, library, park, roadway and roadway improvements, aquatic facilities,
and other public facilities of the City, including the foregoing public facilities which are included
in the City's fee programs with respect to such facilities and authorized to be financed under the
Mello -Roos Community Facilities Act of 1982, as amended (the "Facilities"), and all
appurtenances and appurtenant work in connection with the foregoing Facilities, including the
cost of engineering, planning, designing, materials testing, coordination, construction staking,
construction management and supervision for such Facilities, and to finance the incidental
expenses to be incurred, including:
a. The cost of engineering, planning and designing the Facilities;
b. All costs, including costs of the property owner petitioning to form the District,
associated with the creation of the District, the issuance of the bonds, the determination of the
amount of special taxes to be levied and costs otherwise incurred in order to carry out the
authorized purposes of the District; and
C. Any other expenses incidental to the construction, acquisition, modification,
rehabilitation, completion and inspection of the Facilities.
Capitalized terms used and not defined herein shall have the meaning set forth in the Rate
and Method of Apportionment of Special Taxes for the District.
A-1