Loading...
HomeMy WebLinkAboutRES 2006-68RESOLUTION NO. 2006-68 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DIAMOND BAR ACTING AS THE LEGISLATIVE BODY OF COMMUNITY FACILITIES DISTRICT NO. 2006-1 OF THE CITY OF DIAMOND BAR (DIAMOND BAR LIBRARY) DETERMINING THE NECESSITY TO INCUR BONDED INDEBTEDNESS WITHIN COMMUNITY FACILITIES DISTRICT NO. 2006-1 OF THE CITY OF DIAMOND BAR (DIAMOND BAR LIBRARY) AND CALLING ELECTIONS THEREIN WHEREAS, on June 30, 2006, the City Council of the City of Diamond Bar (the "City Council") adopted Resolution No. 2006-61 stating its intention to form Community Facilities District No. 2006-1 of the City of Diamond Bar ("Community Facilities District No. 2006-1" or the "District") pursuant to the Mello -Roos Community Facilities Act of 1982, as amended (the "Act"); and WHEREAS, on June 30, 2006, the City Council also adopted Resolution No. 2006-62 stating its intention to incur bonded indebtedness within proposed Community Facilities District No. 2006-1 in the amount of up to $13,100,000 to (1) finance the purchase, construction, modification, expansion, improvement or rehabilitation of public facilities identified in Resolution No. 2006-61 and incorporated herein by this reference, including all furnishings, ,equipment and supplies related thereto (collectively, the "Facilities"); and (2) finance the incidental expenses to be incurred in connection with financing the Facilities and forming and administering the District (the "Incidental Expenses'); and WHEREAS, notice was published as required by law relative to the intention of the City Council to form proposed Community Facilities District No. 2006-1 and to incur bonded indebtedness within Community Facilities District No. 2006-1; and WHEREAS, on August 1, 2006, this City Council held a noticed public hearing to determine whether it should proceed with the formation of Community Facilities District No. 2006-1, issue bonds to pay for the Facilities and Incidental Expenses, including, but not limited to, the funding of reserve funds, the financing 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 this Act, and authorize the rate and method of apportionment of the special taxes to be levied on Community Facilities District No. 2006-1 for the purposes described in Resolution No. 2006-61; and WHEREAS, at said hearings all persons desiring to be heard on all matters pertaining to the formation of Community Facilities District No. 2006-1, 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. 2onfi-.67 establishing Community Facilities District No. 2006-1 (the "Resolution of Formation"); and 2006-68 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 certain propositions to the registered voters within the District, all as authorized and required by law. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF DIAMOND BAR HEREBY FINDS, DETERMINES, RESOLVES, AND ORDERS AS FOLLOWS: SECTION 1. It is necessary to incur bonded indebtedness of Community Facilities District No. 2006-1 in a maximum aggregate principal amount not to exceed $13,100,000. SECTION 2. The indebtedness is to be incurred for the purpose of financing the costs of the Facilities and the Facilities 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 3. The whole of the property within the District, other than property exempted from the special tax pursuant to the provisions of the applicable rate and method of apportionment attached to Resolution No. 2006-61 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 thirty-one (31) years from the date of issuance of the bonds of such series, or such longer term as is then permitted by law. SECTION 5. The bonds shall bear interest at the rate or rates not to exceed 12% or the 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 the 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. 2006-1 on the proposition of incurring the bonded indebtedness for the District. The proposition relative to incurring bonded indebtedness for Community Facilities District No. 2006-1 shall be consolidated with the election and the proposition to levy special taxes and establish an appropriations limit and shall be in the form set forth in Attachment "A" hereto. SECTION 8. The date of the foregoing election for the District shall be November 7, 2006, such election being consolidated with the general statewide election held on such date. The election shall be conducted by the Registrar of Voters. The polls shall open at 7:00 a.m. of the 2006-68 day of the election and shall remain open continuously from that time until 8:00 p.m. of the same day when the polls shall be closed, except as provided in Section 14401 of the Election Code of the State of California as determined and published by the Registrar of Voters. 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 Diamond Bar, insofar as such provisions are determined by the Registrar of Voters to be applicable. All ballots shall be received by and the Registrar of Voters shall close the election on the election day at 8:00 p.m., except as provided in Section 14401 of the Election Code of the State of California. Pursuant to Section 53326 of the Act, the ballots for the special election shall be distributed in person or by mail to the qualified electors within the District. It has been determined by the Registrar of Voters that there were at least 12 registered voters within the District for each of the 90 days preceding August 1, 2006. Accordingly, the qualified electors shall be the registered voters and each voter shall have one vote. The City hereby requests the Board of Supervisors of Los Angeles County, pursuant to Elections Code Section 10403, to consolidate this special district election with the County and Statewide elections scheduled for November 7, 2006. The City also hereby requests the Board of Supervisors of Los Angeles County to direct the Registrar of Voters to do all things necessary and proper for the conduct of the election, including but not limited to: establishing precinct boundaries and polling places, selecting and employing election officials; publication of notices; preparation and distribution of sample ballots; distribution of printed arguments for and against the measure; the conduct of the election; the counting of ballots and the canvassing and certification of the election results. SECTION 9. In accordance with Article 4, Chapter 3, Division 9 of the Elections Code of the State of California, the City Council requests the City Clerk to receive arguments in favor or against the ballot proposition and establish a deadline of August 18, 2006 as the date after which no arguments in favor or against the ballot propositions may be submitted to the City Clerk. The City Council hereby directs the City Clerk to transmit a copy of the foregoing measure to the City Attorney for the City, and directs the City Attorney to prepare and submit to the City Clerk an impartial analysis of the foregoing measure, all pursuant to California Elections Code Section 9280. The City Council hereby directs the City Manager to prepare a tax rate statement in accordance with Section 9401 at the Elections Code of the State of California and to transmit such tax rate statement to the City Clerk. The City Clerk shall transmit all election materials prepared pursuant to this Section 9 to the Registrar of Voters for inclusion in the ballot materials. SECTION 10. This Resolution shall take effect immediately upon its adoption. 1 2006--68 PASSED, APPROVED AND ADOPTED this 1st day of Augur , 2006. Carol Herrera, Mayor I, Tommye Cribbins, City Clerk of the City of Diamond Bar, California do hereby certify that the foregoing Resolution was duly and regularly passed and adopted by the City Council of the City of Diamond Bar, California, at its regular meeting held on the 1st day of August , 2006, by the following vote: AYES: COUNCIL MEMBERS: Chang, Tanaka, Tye, MPT/zirbes, M/Herrera NOES: COUNCIL MEMBERS: done ABSENT: COUNCIL MEMBERS: zone ABSTAINED: COUNCIL MEMBERS: ivone Tommye dribbins, CITY CLERK CITY OF DIAMOND BAR 2006--68 1 ATTACHMENT "A" BALLOT PROPOSITION COMMUNITY FACILITIES DISTRICT NO. 2006-1 OF THE CITY OF DIAMOND BAR (DIAMOND BAR LIBRARY) SPECIAL TAX AND SPECIAL BOND ELECTION November 7, 2006 MEASURE -- City of Diamond Bar Library: YES To finance the construction and furnishing of a NO library benefiting the residents of the City of Diamond Bar, shall Community Facilities District No. 2006-1 of the City of Diamond Bar issue not to exceed $13,100,000 of bonds at legal rates and levy special taxes to finance debt service on the bonds and operating costs of the library and the District, and establish an appropriations limit of $550,000? 1 2006--68