HomeMy WebLinkAboutCity of Temecula Reso 05-05
RESOLUTION NO. 05-05 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF TEMECULA MAKING FINDINGS WITH RESPECT TO AND APPROVING THE ISSUANCE OF BONDS BY THE TEMECULA PUBLIC FINANCING AUTHORITY
-RORIPAUGH RANCH 03-02 WHEREAS, the City of Temecula (the "City") and the Redevelopment Agency of the City of Temecula have heretofore entered into a Joint Exercise of Powers Agreement
establishing the Temecula Public Financing Authority (the "Authority") for the purpose, among others, of issuing its bonds to finance public capital improvements; and WHEREAS, the Board
of Directors of the Authority intends to form the Temecula Public Financing Authority Community Facilities District No. 03-02 (Roripaugh Ranch) (the "CFD"), and to issue bonds of the
Authority for the CFD (the "Bonds") to finance various public improvements within or near the City of Temecula (the "Improvements") and the elimination of a fixed special assessment
lien on property in the CFD (the "Prior Lien"); and WHEREAS, the City Council has on this date held a duly noticed public hearing on the financing of the Improvements and the elimination
of the Prior Lien with the proceeds of the Bonds, as required by Section 6586.5(a) of the California Government Code; and WHEREAS, the City Council now desires to make a finding of significant
public benefit, pursuant to Section 6586.5(a)(2) of the California Government Code, and to approve of the financing of the Improvements and the elimination of the Prior Lien with the
proceeds of the Bonds.NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Temecula as follows:Section 1. Findings and Determinations. The City Council hereby finds that
significant public benefits will arise from the financing of the Improvements and the elimination of the Prior Lien with the proceeds of the Bonds, in accordance with Section 6586 of
the California Government Code. Section 2. Approval of Financing. The City Council hereby approves the financing of the Improvements and the elimination of the Prior Lien with the proceeds
of of the Bonds, and the issuance of the Bonds by the Authority for the CFD. Section 3. Effective Date. This Resolution shall take effect from and after the date of its passage and adoption.
I hereby certify, under the penalty of perjury that the above and foregoing is a true and correct copy of an original on deposit within the records of the City of Ternoc-ula. In'w:'.
.uss whereof, i have hereunto set my hand and affixed the seal of the City of Temecula this _tg _riaynf_ /y\gfy^-20<?b . PNE R:/Resos 2005/Resos 05-05
PASSED, APPROVED AND ADOPTED, by the City Council of the City of Temecula at a regular meeting of the City Council held on the 11 day of January, 2005. ATTEST: Jeff Comerchero, Mayor
Xcjty Clerk/[SEAL] STATE OF CALIFORNIA ) COUNTY OF RIVERSIDE ) ss CITY OF TEMECULA ) I, Susan W. Jones, CMC, City Clerk of the City of Temecula, HEREBY DO CERTIFY that the foregoing
Resolution No. 05-05 was duly adopted at a regular meeting of the City Council of the City of Temecula on the 11th day of January, 2005, by the following roll call vote: AYES: 4 COUNCILMEMBERS:
Naggar, Roberts, Washington, Comerchero NOES: 0 COUNCILMEMBERS: None ABSENT: 0 COUNCILMEMBERS: None ABSTAIN: 0 COUNCILMEMBERS: None . Jones, CMC City Clerk I hereby certify, under the
penalty of p«ijyy that the above and foregoing is a true end cocreef copy of an original on deposit within the records of the City of Temecula. In y.'".,ess whereof; i have hereunto
&et my hand and affixed the seal of the City of Temecula this i-O riawnf nA 1-^20_OL R:/Resos 2005/Resos 05-05