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HomeMy WebLinkAbout03-10 TPFA ResolutionRESOLUTION NO. TPFA 03-10 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE TEMECULA PUBLIC FINANCING AUTHORITY DECLARING RESULTS OF SPECIAL RATIFYING ELECTION AND DIRECTING RECORDING OF NOTICE OF SPECIAL TAX LIEN WHEREAS, in proceedings heretofore conducted by this Board of Directors pursuant to the Mello-Roos Community Facilities Act of 1982, Section 53311 et seq. of the California Government Code (the "Law"), this Board of Directors on May 13, 2003 adopted a resolution entitled "A Resolution of the Board of Directors of the Temecula Public Financing Authority Calling Special Ratifying Election Within Community Facilities District No. 03-1 (Crowne Hill)", calling for a special election of the qualified electors within the Temecula Public Financing Authority Community Facilities District No. 03-1 (Crowne Hill) (the "District") ratifying the formation of the District, the levy of special taxes therein, the incurrence of indebtedness by the District and the establishment of an appropriations limit for the District; and WHEREAS, pursuant to the terms of said resolution, which are by this reference incorporated herein, the special ratifying election was held on May 13, 2003, and the Secretary has on file a Canvass and Statement of Results of Election, a copy of which is attached hereto as Exhibit A; and WHEREAS, this Board of Directors has reviewed the canvass and hereby approves it. NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the Temecula Public Financing Authority as follows: Section 1. The issues presented at the special ratifying election were the incurring of a bonded indebtedness in the maximum aggregate principal amount of $25,000,000, the levy of a special tax within the District to be levied in accordance with the rate and method of apportionment of special taxes heretofore approved by this Board of Directors by its resolution adopted March 25, 2003 entitled "A Resolution of the Board of Directors of the Temecula Public Financing Authority of Formation of Temecula Public Financing Authority Community Facilities District No. 03-1 (Crowne Hill), Authorizing Levy of a Special Tax Within the District, Preliminarily Establishing an Appropriations Limit for the District and Submitting Levy of the Special Tax and the Establishment of the Appropriations Limit to the Qualified Electors of the District", and the approval of an appropriations limit of not to exceed $25,000,000 pursuant to said resolution. Section 2. Pursuant to the canvass of the special ratifying election on file with the Secretary, the issues presented at the special election were approved by the qualified electors of the District by more than two-thirds of the votes cast at the special election. Section 3. Pursuant to the voter approval, the District is hereby declared to be fully formed with the authority to incur bonded indebtedness and to levy special taxes as heretofore provided in these proceedings and in the Law. R/TPFA Resos 2003/TPFA 03-10 1 Section 4. The Secretary is hereby directed to execute and cause to be recorded in the office of the County Recorder of the County of Riverside an amended and restated notice of special tax lien, said recording to occur no later than fifteen days following adoption by the Board of Directors of this Resolution. Section 5. This Resolution shall take effect upon its adoption. PASSED, APPROVED AND ADOPTED, by the Board of Directors of the Temecula Public Financing Authority at a meeting held on the 13th day of May, 2003. ATTEST: ! ~ Susan ~. Johes, CMC / ' · "-~ City CI rk/AUthority Secret ry Chairperson STATE OF CALIFORNIA ) COUNTYOF RIVERSIDE ) ss CITY OF TEMECULA ) I, Susan Jones, Secretary of the Temecula Public Financing Authority, HEREBY DO CERTIFY that the foregoing Resolution No. TPFA 03-10 was duly adopted at a sPthecial meeting of the Board of Directors of the Temecula Public Financing Authority on the 13 day of May, 2003, by the following vote: AYES: 5 NOES: 0 BOARDMEMBERS: Comerchero, Naggar, Pratt, Roberts, Stone BOARDMEMBERS: None ABSENT: 0 BOARDMEMBERS: None ABSTAIN: 0 BOARDMEMBERS: None ~~'~~CMC ~ J Ci~ority Secretary R:/'rPFA Resos 2003/TPFA 03-10 2 EXHIBIT A CANVASS AND STATEMENT OF RESULT OF ELECTION TEMECULA PUBLIC FINANCING AUTHORITY COMMUNITY FACILITIES DISTRICT NO. 03-1 (CROWNE HILL) I hereby certify that on May 13, 2003, I canvassed the returns of the special ratifying election held on May 13, 2003, in the Temecula Public Financing Authority Community Facilities District No. 03-1 (Crowne Hill) and the total number of ballots cast in said District and the total number of votes cast for and against the measure are as follows and the totals as shown for and against the measure are full, true and correct: Qualified Landowner Votes Votes Cast YES NO Temecula Public Financing Authority Community Facilities District No. 03- 1 (Crowne Hill) Special Ratifying Election May 13, 2003. BALLOT MEASURE: Shall the Temecula Public Financing Authority (the "Authority") incur an indebtedness and issue bonds in one or more series in the maximum aggregate principal amount of $25,000,000, with interest at a rate or rates not to exceed the maximum interest rate permitted by law at the time of sale of such bonds on behalf of the Temecula Public Financing Authority Community Facilities District No. 03-1 (Crowne Hill) (the "District"), the proceeds of which will be used only to finance the costs of certain public improvements and to eliminate a lien on property in the District as specified in the Resolution of Formation of the District and the costs of issuing the bonds as well as the establishment of appropriate bond and interest rate reserves; shall a special tax payable solely from lands within the District be levied annually upon lands within the District to be applied only to the payment of the principal and interest upon such bonds to be issued and to replenish the reserves for the bonds and to pay the costs of the Authority and the City of Temecula in administering the District, and shall the annual appropriations limit of the District be established in the amount of $25,000,000? IN WITNESS WHEREOF, I HAVE HEREUNTO SET MY HAND this 13th day of May, 2003. By: Secretary, Temecula Public Financing Authority A-1