HomeMy WebLinkAbout2018-2671
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RESOLUTION NO. 2018-267
RESOLUTION OF THE MAYOR AND CITY COUNCIL OF THE CITY OF SAN
BERNARDINO, DETERMINING THE NECESSITY TO INCUR BONDED
INDEBTEDNESS IN AN AMOUNT NOT TO EXCEED $5,000,000 WITHIN THE
PROPOSED CFD NO. 2018-2 OF THE CITY OF SAN BERNARDINO
WHEREAS, on August 15, 2018, the City Council of the City of San Bernardino (the
"City Council") adopted Resolution No. 2018-240 stating its intention to form Community
Facilities District No. 2018-2 of the City of San Bernardino (Verdemont Ranch) ("Community
Facilities District No. 2018-2" or the "District") pursuant to the Mello -Roos Community
Facilities Act of 1982, as amended (the "Act"); and
WHEREAS, on August 15, 2018, the City Council also adopted Resolution No. 2018-
241 stating its intention to incur bonded indebtedness in the amount of up to $5,000,000 within
proposed Community Facilities District No. 2018-2 to finance (1) the purchase, construction,
modification, expansion, improvement or rehabilitation of public facilities identified in
Attachment B to Resolution No. 2018-240, and (2) the incidental expenses to be incurred in
financing such public facilities and forming and administering the District, as identified in
Attachment B to Resolution No. 2018-240; and
WHEREAS, notice was published as required by law relative to the intention of the City'
Council to form proposed Community Facilities District No. 2018-2 and to incur bonded'
indebtedness in the amount of up to $5,000,000 within the boundaries of proposed Community'
Facilities District No. 2018-2; and
WHEREAS, on September 19, 2018, this City Council conducted a noticed public
hearing to determine whether it should proceed with the formation of Community Facilities
District No. 2018-2, issue bonds to pay for the facilities and incidental expenses described in
Resolution No. 2018-240 and authorize the rate and method of apportionment of a special tax to
be levied within Community Facilities District No. 2018-2 for the purposes described in
Resolution No. 2018-240; and
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RESOLUTION NO. 2018-267
RESOLUTION OF THE MAYOR AND CITY COUNCIL OF THE CITY OF SAN
BERNARDINO, DETERMINING THE NECESSITY TO INCUR BONDED
INDEBTEDNESS IN AN AMOUNT NOT TO EXCEED $5,000,000 WITHIN THE
PROPOSED CFD NO. 2018-2 OF THE CITY OF SAN BERNARDINO
WHEREAS, at said hearing all persons desiring to be heard on all matters pertaining to
the formation of Community Facilities District No. 2018-2, the levy of a special tax and the
issuance of bonds to pay for the cost of the proposed facilities and incidental expenses were
heard and a full and fair hearing was held; and
WHEREAS, the City Council subsequent to such hearing adopted Resolution No. 2018 -
establishing Community Facilities District No. 2018-2 (the "Resolution of Formation") and
authorizing the financing of the public facilities (the "Facilities") and the incidental expenses
(the "Incidental Expenses") described in Attachment B thereto; and
WHEREAS, the City Council desires to make the necessary findings to incur bonded
indebtedness within the District, to declare the purpose for said debt, and to authorize the
submittal of a proposition to issue bonded indebtedness to the voters of the District, being the
landowners within the proposed District, all as authorized and required by law
BE IT RESOLVED BY THE MAYOR AND CITY COUNCIL OF THE CITY OF
SAN BERNARDINO AS FOLLOWS:
SECTION 1. It is necessary to incur bonded indebtedness in a maximum aggregate
principal amount not to exceed $5,000,000 within Community Facilities District No. 2018-2.
SECTION 2. The indebtedness is to be incurred for the purpose of financing the costs
purchasing, constructing, modifying, expanding, improving, or rehabilitating the Facilities and
financing the Incidental Expenses, as described in the Resolution of Formation, and carrying out
the powers and purposes of Community Facilities District No. 2018-2, including, but not limited
to, financing the costs of selling the bonds, establishing and replenishing bond reserve funds and
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RESOLUTION NO. 2018-267
RESOLUTION OF THE MAYOR AND CITY COUNCIL OF THE CITY OF SAN'
BERNARDINO, DETERMINING THE NECESSITY TO INCUR BONDED
INDEBTEDNESS IN AN AMOUNT NOT TO EXCEED $5,000,000 WITHIN THE
PROPOSED CFD NO. 2018-2 OF THE CITY OF SAN BERNARDINO
paying remarketing, credit enhancement and liquidity facility fees and other expenses of the type
authorized by Section 53345.3 of the Act.
SECTION 3. The whole of the property within Community Facilities District No. 2018-
2, other than property exempted from the special tax pursuant to the provisions of the rate and
method of apportionment attached to Resolution No. 2018-240 as Attachment C, shall pay for
the bonded indebtedness pursuant to the levy of the special tax authorized by the Resolution of
Formation.
SECTION 4. The maximum term of the bonds to be issued shall in no event exceed I
thirty-five (35) years.
SECTION 5. The bonds shall bear interest at the rate or rates not to exceed the I
maximum interest rate permitted by law, payable annually or semiannually, or in part annually
and in part semiannually, except the first interest payment may be for a period of less than six
months, with the actual rate or rates and times of payment to be determined at the time or times
of sale thereof.
SECTION 6. The bonds may bear a variable or fixed interest rate, provided that such
variable rate or fixed rate shall not exceed the maximum rate permitted by Section 53531 of the
Act, or any other applicable provision of law limiting the maximum interest rate on the bonds.
SECTION 7. Pursuant to Section 53351 of the Act, a special election is hereby called
for Community Facilities District No. 2018-2 on the proposition of incurring the bonded
indebtedness. The proposition relative to incurring bonded indebtedness in the maximum
aggregate principal amount of $5,000,000 shall be in the form of Proposition A set forth in
Attachment A hereto. In accordance with Sections 53351(h) and 53353.5 of the Act, the election
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RESOLUTION NO. 2018-267
RESOLUTION OF THE MAYOR AND CITY COUNCIL OF THE CITY OF SAN',
BERNARDINO, DETERMINING THE NECESSITY TO INCUR BONDED
INDEBTEDNESS IN AN AMOUNT NOT TO EXCEED $5,000,000 WITHIN THE
PROPOSED CFD NO. 2018-2 OF THE CITY OF SAN BERNARDINO
shall be consolidated with the special election called on the proposition of levying a special tax
within the District as described in the Resolution of Formation, which proposition shall be in the
form of Proposition B set forth in Attachment A, and on the proposition of establishing an
appropriations limit for the District, which proposition shall be in the form of Proposition C set
forth in Attachment A.
SECTION 8. The date of the special election for Community Facilities District No.
2018-2 on the propositions of incurring the bonded indebtedness, authorizing the levy of the
special tax and setting an appropriations limit shall be September 19, 2018, or such later date as
is consented to by the City Clerk of the City; provided that, if the election is to take place sooner
than 90 days after September 19, 2018, then the unanimous written consent of each qualified
elector within the District to such election date must be obtained. The polls shall be open for
said election immediately following the public hearing on September 19, 2018. The election
shall be conducted by the City Clerk. Except as otherwise provided by the Act, the election shall
be conducted in accordance with the provisions of law regulating elections of the City of San
Bernardino insofar as such provisions are determined by the City Clerk to be applicable. The
City Clerk is authorized to conduct the election following the adoption of the Resolution of
Formation, and this resolution and all ballots shall be received by and the City Clerk shall close
the election by 11:00 p.m. on the election day; provided the election shall be closed at such
earlier time as all qualified electors have voted as provided in Section 53326(d) of the Act.
Pursuant to Section 53326 of the Act, the ballots for the special election shall be distributed in
person, or by mail with return postage prepaid, to the qualified electors within Community
Facilities District No. 2018-2. The City Clerk has secured a certificate of the Registrar of Voters
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RESOLUTION NO. 2018-267
RESOLUTION OF THE MAYOR AND CITY COUNCIL OF THE CITY OF SAN
BERNARDINO, DETERMINING THE NECESSITY TO INCUR BONDED
INDEBTEDNESS IN AN AMOUNT NOT TO EXCEED $5,000,000 WITHIN THE
PROPOSED CFD NO. 2018-2 OF THE CITY OF SAN BERNARDINO
of the County of San Bernardino certifying that there were no registered voters within the
District as of August 31, 2018. Accordingly, since there were fewer than 12 registered voters
within the District for each of the 90 days preceding September 19, 2018, the qualified electors
shall be the landowners within the District and each landowner, or the authorized representative
thereof, shall have one vote for each acre or portion thereof that such landowner owns within
Community Facilities District No. 2018-2, as provided in Section 53326 of the Act. The sole
landowner within the District has executed and delivered a waiver of certain election law
requirements and consenting to the holding of the election on September 19, 2018, which waiver
is on file with the City Clerk.
SECTION 9. This Resolution shall be effective upon its adoption.
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RESOLUTION NO. 2018-267
RESOLUTION OF THE MAYOR AND CITY COUNCIL OF THE CITY OF SAN
BERNARDINO, DETERMINING THE NECESSITY TO INCUR BONDED
INDEBTEDNESS IN AN AMOUNT NOT TO EXCEED $5,000,000 WITHIN THE
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 19 h
day of September 2018, by the following vote, to wit:
Council Members:
AYES
MARQUEZ
x
BARRIOS
x
VALDIVIA
SHORETT
Y
NICKEL
X
RICHARD
MULVIHILL
X
NAYS ABSTAIN ABSENT
C-1,
Georgeann na, CMC, City Clerk
The foregoing Resolution is hereby approved this 19th day of September 2018.
.4�? -�� ' a0b"-
R. Carey Da=ardino
ayor
City of San
Approved as to form:
Gary D. SS nz, City Attorney
r`
L
By:
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ATTACHMENT A
BALLOT PROPOSITIONS
COMMUNITY FACILITIES DISTRICT NO. 2018-2
OF THE CITY OF SAN BERNARDINO (VERDEMONT RANCH)
SPECIAL TAX AND SPECIAL BOND ELECTION
September 19, 2018
PROPOSITION A: Shall Community Facilities District
No. 2018-2 of the City of San Bernardino (Verdemont
Ranch) incur an indebtedness and issue bonds in the
maximum principal amount of $5,000,000, with interest
at a rate or rates not to exceed the maximum interest rate
permitted by law, to finance the Facilities and the
Incidental Expenses described in Resolution No. 2018-
240 of the City Council of the City of San Bernardino?
PROPOSITION B: Shall a special tax with a rate and
method of apportionment as provided in Resolution No.
2018-240 of the City Council of the City of San
Bernardino be levied to pay for the Facilities, Incidental
Expenses and other purposes described in Resolution No.
2018-240, including the payment of the principal of and
interest on bonds issued to finance the Facilities and
Incidental Expenses?
PROPOSITION C: For each year commencing with
Fiscal Year 2018-19, shall the appropriations limit, as
defined by subdivision (h) of Section 8 of Article XIII B
of the California Constitution, for Community Facilities
District No. 2018-2 of the City of San Bernardino
(Verdemont Ranch) be an amount equal to $2,000,000?
YES
NO
YES
NO
YES
NO