HomeMy WebLinkAbout25- City Administrator CITY OF SAN BERNARDINO - REQUEST FOR COUNCIL ACTION
From: Fred Wilson Subject: Ordinance Dissolving
Community Facilities District #995
Dept: City Administrator
Date: February 22, 2000 O O O U
Synopsis of Previous Council Action:
Resolution #90-247 adopted forming CFD #995
Recommended motion:
That the first reading of the ordinance be waived and it be laid over for final
adoption.
Ih
Signature
Contact person: Fred Wilson Phone: 5122
Supporting data attached: yes Ward:
FUNDING REQUIREMENTS: Amount:
Source: (Acct. No.)
(Acct. Description)
Finance:
Council Notes:
3/ALAI)
Agenda Item No. J
CITY OF SAN BERNARDINO - REQUEST FOR COUNCIL ACTION
STAFF REPORT
Subject: Ordinance Dissolving Community Facility District#995
Background:
Community Facilities District#995 was formed by action of the Mayor and
Council on June 18, 1990, by the adoption of Resolution #90-247. In 1991, the
City issued the $7,440,000 Community Facilities District No. 995 (Verdemont Area)
of the City of San Bernardino Special Tax Bonds (the "CFD Bonds"). In 1994, the
City issued the $3,315,000 Community Facilities District No. 995 of the City of San
Bernardino (Verdemont Area) Special Tax Refunding Bonds (the "1994 Refunding
Bonds") to refund the 1991 CFD Bonds.
hi May 1999, the City used certain funds from the sale of the Glaziers and Bice
parcels to the Agency to create an escrow for the 1994 bonds. Under the 1994
Refunding Bonds documents, the escrow is sufficient to redeem the 1994
Refunding Bonds in full at the first available call date. Due to such payment, the
District is no longer obligated to pay any outstanding debt within the District and
the District has no authorization to levy any special tax within the District. Thus,
the lien of the 1994 Refunding Bonds must now be extinguished.
In order to extinguish a lien of this kind, Government Code Section 53338.5
requires that the City adopt an ordinance setting forth that (1) the District is not
obligated to pay any outstanding debt and (2) the District has no authorization to
levy any special tax. The City must then direct the City Clerk to record an
Addendum to the Notice of Special Tax Lien which shall state that the District and
all associated liens have been dissolved.
Fiscal Impact: None
Recommendation:
That the first reading of the ordinance be waived and it be laid over for final
adoption.
ORDINANCE NO.
1 ORDINANCE OF THE CITY OF SAN BERNARDINO DISSOLVING
COMMUNITY FACILITIES DISTRICT NO. 995
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WHEREAS, the Mayor and Common Council of the City of San
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Bernardino (the "City") formed Community Facilities District No.
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995 (the "District") by adoption of Resolution No. 90-247 on or
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about June 18, 1990; and -
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7 WHEREAS, in 1991, the City issued the $7, 440, 000 Community
8 Facilities District No. 995 (Verdemont Area) of the City of San
Bernardino Special Tax Bonds (the "CFD Bonds") ; and
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10 WHEREAS, IN 1994, the City issued the $3, 315, 000 Community
Facilities District No. 995 of the City of San Bernardino
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(Verdemont Area) Special Tax Refunding Bonds (the 111994 Refunding
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Bonds") to refund the 1991 CFD Bonds; and
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WHEREAS, under the 1994 Refunding Bonds documents, an escrow
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has been created in order to cause the payment of the 1994
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16 Refunding Bonds in full, and thus, the lien of the 1994 Refunding
Bonds is no longer in full force and effect and shall be removed
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18 from the official records of the Recorder for the County of San
Bernardino; and
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20 WHEREAS, the District is no longer obligated to pay any
21 outstanding debt within the District and the District has no
authorization to levy any special tax within the District .
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23 NOW, THEREFORE, THE MAYOR AND COMMON COUNCIL OF THE CITY OF
SAN BERNARDINO DO ORDAIN AS FOLLOWS:
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25 Section 1 . Findings and 12pterminations. It is hereby
26 determined that the District is not obligated to pay any
27 outstanding debt . It is hereby further determined that the
28 District has no authorization to levy any special tax.
1
ORDINANCE OF THE CITY OF SAN BERNARDINO DISSOLVING COMMUNITY
FACILITIES DISTRICT NO. 995
1 Section 2 . Dissolution. Based upon the foregoing, and
2 pursuant to Government Code Section 53338. 5, the District is hereby
3 dissolved and the City Clerk is hereby ordered and directed to
4 cause the recording of an Addendum to the Notice of Special Tax
5 Lien (recorded pursuant to Section 3114 .5 of the Streets & Highways
6 Code) , substantially in the form of Exhibit A hereto with any
7 modifications thereto as deemed necessary by the City Attorney.
8 Section 3 . Publication. The City Clerk is hereby ordered
9 and directed to certify to the passage of this Ordinance and cause
10 the same to be published once in a newspaper of general circulation
11 published and circulated in the City of San Bernardino, California.
12 Section 4 . Invalidity. If any part of this Ordinance is
13 held to be invalid for any reason, such decision shall not affect
14 the validity of the remaining portion of this Ordinance and the
15 Mayor and Common Council hereby declares that it would have passed
16 the remainder of this Ordinance, if such invalid portion thereof
17 had been deleted.
18 Section 5 . Effective Date. This Ordinance shall be in
19 full force and effect thirty (30) days after its passage and its
20 approval by the Mayor.
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2
ORDINANCE OF THE CITY OF SAN BERNARDINO DISSOLVING COMMUNITY
FACILITIES DISTRICT NO. 995
1 I HEREBY CERTIFY that the foregoing Ordinance was duly
2 adopted by the Mayor and Common Council of the City of San
3 Bernardino at a meeting thereof, held on the
4 day of 2000, by the following vote, to wit
5 Council Members : AYES NAYS ABSTAIN ABSENT
6 ESTRADA
7 LIEN
8 MCGINNIS
9 SCHNETZ
10 SUAREZ
11 ANDERSON
12 MILLER
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14 CITY CLERK
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The foregoing Ordinance is hereby approved this day of
16 2000 .
17
18 JUDITH VALLES, Mayor
19 Approved as to form City of San Bernardino
and legal content :
20
JAMES F. PENMAN
21 City Attorney
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By
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1 EXHIBIT A
2 ADDENDUM TO NOTICE OF SPECIAL TAX LIEN
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r �
ADDENDUM TO NOTICE OF SPECIAL TAX LIEN
Notice is hereby given that Community Facilities District
No. 995 and all associated liens, specifically the Special Tax
Lien recorded in the records of the County Recorder for the
County of San Bernardino on July 15, 1990 (Instrument No. 90-
278437) against the following Assessor' s Parcel Numbers :
Assessor' s Parcel Numbers
261-111-21 261-171-06
261-111-23 261-6755-01
261-111-25 261-6755-02
261-111-29 261-6755-03
261-111-30 261-4755-04
261-111-33 261-142-08
261-111-35 261-142-09
261-111-40 261-072-11
261-121-01 261-082-01
261-121-02 261-082-02
261-121-03 261-042-02
261-121-13 261-042-07
261-121-14 261-042-08
261-451-01 to 261-451-48
261-461-01 to 261-461-66
has been dissolved.
For further information contact:
Real Property Supervisor
Public Works/Engineering
City of San Bernardino
300 North "D" Street
San Bernardino, California 92418
(909) 384-5111
Dated: 2000
City Clerk
P:\APPS\WPDATA\SBEO\0001-168\606.WPD
1 SECRETARY' S CERTIFICATE
OF
2 ADOPTION AND AUTHENTICATION
3 I , 1 City Clerk of the City of San
Bernardino, DO HEREBY CERTIFY that the above and foregoing is a
4 full, true and correct copy of the attached Ordinance of said City
and that said Ordinance was adopted at the time and by the vote
5 stated thereon, and has not been amended or repealed.
6
7 DATED:
CITY CLERK
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