HomeMy WebLinkAbout04-05 TPFA Resolution
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RESOLUTION NO. TPFA 04-05
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
TEMECULA PUBLIC FINANCING AUTHORITY AUTHORIZING
THE LEVY OF A SPECIAL TAX IN COMMUNITY FACILITIES
DISTRICT NO. 01-2 (HARVESTON)
WHEREAS, the Temecula Public Financing Authority is the legislative body for
Community Facilities District No. 01-2 (Harveston)(the "CFD"), created pursuant to the Mello-
Roos Community Facilities District Act of 1982, as amended (the "Act"); and
WHEREAS, the Board of Directors has enacted Ordinance No. TPFA 02-01 in
accordance with Govemment Code Section 53340 authorizing the levy of a special tax
assessment on the property located within the CFD; and
WHEREAS, the Board of Directors has completed all steps necessary to levy a special
tax assessment in accordance with the procedures set forth in the Act;
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the Temecula
Public Financing Authority, acting as the legislative body for Community Facilities District No.
01-2 (Harveston) as follows:
Section 1.
Each of the above recitals is true and correct.
Section 2. Pursuant to the provisions of Resolution No. TPFA 02-03 and Ordinance
No. TPFA 02-01, there is to be levied an aggregate special tax of $659,727.88 on the taxable
parcels located in the CFD for Fiscal Year 2004-05 as set forth on a magnetic tape to be
provided by Albert A. Webb Associates to the Auditor-Controller of the County.
Section 3. The special tax levy set forth above does not exceed the amount
previously authorized by Resolution No. TPFA 02-03 and Ordinance No. TPFA 02-01, and is not
in excess of that previously approved by the qualified electorate of the CFD.
Section 4. The proceeds of the special tax levy shall be used to pay, in whole or in
part, the costs of the following items:
A.
Payment of principal and interest on the outstanding authorized bonded
indebtedness.
Replenishment of the required bond reserve funds, or other reserve
funds, if necessary.
Payment of the administrative costs and incidental expenses of the CFD,
as provided in Resolution No. TPFA 02-03 and the indenture of trust for
the CFD and the Act.
B.
C.
The proceeds of the special tax levy shall be used as set forth above, and shall not be used for
any other purpose.
Section 5. The Auditor-Controller of the County is hereby directed to enter the
installment of the special tax for the exact rate and amount of the special tax levied in
accordance with this resolution for each lot or parcel of land affected in a space marked "CFD
R:/TPFA Resos 2004/TPFA 04-05
No. 01-2 (Harveston)" on the next County assessment roll on which taxes will become due.
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Section 6. The County Auditor-Controller shall, at the close of the tax collection
period, promptly render to the CFD a detailed report showing the amounts of the special tax
installments, penalties, interest and fees collected, and from which properties they have been
collected. Any expenses to be paid to the Auditor-Controller for carrying out the foregoing
responsibilities shall be in accordance with a contract entered into between the CFD and the
Auditor, pursuant to Section 29304 of the Government Code.
Section 7. The Authority Secretary shall certify adoption of the resolution.
PASSED, APPROVED AND ADOPTED this 13th day of July, 2004.
ATTEST:
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STATE OF CALIFORNIA
COUNTY OF RIVERSIDE
CITY OF TEMECULA
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) ss
)
I, Susan W. Jones, CMC, City Clerk/Authority Secretary of the Temecula Public
Financing Authority, HEREBY DO CERTIFY that the foregoing Resolution No. TPFA 04-05 was
duly adopted at a meeting of the Board of Directors of the Temecula Public Financing Authority
on the 13th day of July, 2004, by the following vote:
AYES:
NOES:
AGENCY MEMBERS: Comerchero, Roberts, Stone, Washington
AGENCY MEMBERS: None
ABSENT:
AGENCY MEMBERS: Stone
ABSTAIN:
AGENCY MEMBERS: None
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R:/TPFA Resos 2004/TPFA 04-05
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Exhibit A
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. . ""'.0' ..S\,r~;¡~I'oi}:(::,Þ,I",,:r-(¡[?T'.."":o;':(9"Ig"t. .
Bonds Outstanding
$17,310,000.00
'Delinquency Rate for Fiscal Year 2002.03
Delinquency Rate for Fiscal Year 2003-04
Current # of parcels
0.00%
0.12%
388
March 2005 Interest
September 2005 Interest
September 2005 Principal
Total Debt Service
Avg. Interest
1.00%
$173,100.00
$173,100.00
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Fiscal Agent
Tax Consultant (Webb)
Auditor -Controller
Auditor-Controller ($ X the # of parcels)
Tax Collector (new charge $ X the total levy)
Standard & Poors
Rebate Calculation
Remarking Fee
Foreclosure Counsel
Letter of Credit Fee
District Administration
Total Administration
FY 03-04 FY 04-05
Actual ~ Difference
$8,735.00 $9,100.00 $365.00
$10,000.00 $10,000.00 $0.00
$100.00 $100.00 $0.00
$0.16 $62.08 $62.08 $0.00
$0.35 $1,260.53 $135.80 ($1,124.73)
$3,500.00 $3,500.00 $0.00
$0.00 $500.00 $500.00
0.09% $15,579.00 $15,579.00 $0.00
$0.00 $0.00 $0.00
1.25% $216,375.00 $216,375.00 $0.00
$25,000.00 $25,000.00 $0.00
$280,611.61 $280,351.88 ($259.73)
$173,100.00
$280,351.88
$453,451.88
61.83%
5.51%
$1,569,113.12
Total District A Obligation
Total Administration
Total District A Requirement
Administration % of Levy
District % of Levy
Maximum Authorized Levy
~w'í"Ji.1I'i":":,:ër.ir".Ir-l"I¿'.,"',\,: """,'c:;..i,;;',;¡¡':
N'~.¡;,I...¡~.(.:.j~. c)¡c11'P.:' ::r,:,:r::
':;',"X:f';Lc)nt:c.'i) I.;::"'! d',_Œ;.c~':)', . .. .. . -.. . .~è\{';~,ii€:
District A FY 2003-04 Levy
Difference
$589,182.80
-$135,730.92
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