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HomeMy WebLinkAbout03-11 TPFA ResolutionRESOLUTION NO. TPFA 03-11 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE TEMECULA PUBLIC FINANCING AUTHORITY MAKING FINDINGS OF COMPLEXITY OF PROPOSED COMMUNITY FACILITIES DISTRICT NO. 01-3 0NOLF CREEK) AND AMENDING RESOLUTION OF INTENTION TO FORM THE DISTRICT WHEREAS, on March 18, 2003 this Board of Directors (the "Board") of the Temecula Public Financing Authority (the "Authority") adopted a Resolution entitled "A Resolution of the Board of Directors of the Temecula Public Financing Authority Declaring Its Intention to Establish a Community Facilities District and to Authorize the Levy of Special Taxes Therein - Wolf Creek" (the "Resolution of Intention to Form the CFD") and a Resolution entitled "A Resolution of the Board of Directors of the Temecula Public Financing Authority Declaring Its Intention to Incur Bonded Indebtedness of the Proposed Temecula Public Financing Authority Community Facilities District No. 01-3 (Wolf Creek)" (collectively with the Resolution of Intention to Form the CFD, the "Resolutions of Intention"), declaring its intention to form a community facilities district to be known as the "Temecula Public Financing Authority Community Facilities District No. 01-3 (Wolf Creek)" (the "District") under the provisions of the Mello-Roos Community Facilities Act of 1982, constituting Section 53311 et seq. of the California Government Code (the ~Law"), and to incur bonded indebtedness of the District to finance various public improvements; and WHEREAS, the Resolutions of Intention celled for public hearings to be held on the formation of the District and the issuance of bonds of the Authority for the District on April 22, 2003; and WHEREAS, notice of the public hearings was published more than seven days prior to the scheduled date for the hearings as required by the Law, and the public hearings were opened by this Board on April 22, 2003 and continued to May 13, 2003 to allow for more time for the Riverside County Flood Control and Water Conservation District to prepare a joint community facilities agreement for the District (the "County Agreement") and to allow time for discussions to be had between staff of the City of Temecula and the owner of the property in the proposed District regarding the facilities to be financed by the District; and WHEREAS, the Authority has agreed to expand the scope of the public improvements to be financed by the District and is reviewing the County Agreement and preparing other joint community facilities agreements for the District, such that the Resolution of Intention to Form the CFD needs to be amended to include additional improvements and additional time is needed to complete the joint community facilities agreements for the proposed District; and WHEREAS, Section 53325 of the Law requires that the public hearings be completed within 30 days unless this Board finds that the complexity of the proposed District or the need for public participation requires additional time, in which event the public hearings may be continued from time to time for a period not to exceed six months, and this Board now desires to make such findings. NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the Temecula Public Financing Authority as follows: R:/TPFA Resos 2003/TPFA 03-11 I SECTION 1. The complexity of the proposed District and the need for public participation requires additional time, such that the public hearings called pursuant to the Resolutions of Intention may be continued by this Board from time to time as it considers necessary in the circumstances, not to exceed six months from April 22, 2003. The Board hereby continues the public hearings to June 24, 2003, at which time the Board will hold and conclude the public hearings or, if it determines that a further continuance is appropriate in the circumstances, will continue the public hearings to a date to be specified by the Board. SECTION 2. The Resolution of Intention to form the CFD is hereby amended by adding the following to Exhibit A to said Resolution as a new item 12. to the list of the Facilities (as defined in the Resolution of Intention to Form the CFD) to be funded by the District: "12. Sanitary sewer system and water system improvements to be designated by the Eastern Municipal Water District on which it will expend up to $5,501,200 of bond funds." PASSED, APPROVED AND ADOPTED, by the Board of Directors of the Temecula th Public Financing Authority at a meeting held on the 13 day of May, 2003. ATTEST: ~'~ ~ J~rey E.-~one, Chairperson STATE OF CALIFORNIA COUNTY OF RIVERSIDE CITY OF TEMECULA SS I, Susan Jones, Secretary of the Temecula Public Financing Authority, HEREBY DO CERTIFY that the foregoing Resolution No. TPFA 03-11 was duly adopted at a special meeting of the Board of Directors of the Temecula Public Financing Authority on the 13th day of May, 2003, by the following vote: AYES: 5 BOARDMEMBERS: NOES: 0 BOARDMEMBERS: None ABSENT: 0 BOARDMEMBERS: None ABSTAIN: 0 BOARDMEMBERS: None R:fTPFA Resos 2003fTPFA 03-11 Comerchero, Naggar, Pratt, Roberts, Stone