HomeMy WebLinkAbout2021-02 TPFA Resolution RESOLUTION NO. TPFA 2021-02
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.20-01 (HEIRLOOM FARMS)
THE BOARD OF DIRECTORS OF THE TEMECULA PUBLIC FINANCING
AUTHORITY DOES HEREBY RESOLVE AS FOLLOWS:
Section 1. This Board of Directors has this date adopted its 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— Heirloom Farms," stating its intention to form a community facilities district pursuant
to the Mello-Roos Community Facilities Act of 1982(the"Law"), for the purpose of financing the
costs of certain public improvements (the "Facilities"), and the costs of providing certain
municipal services.
Section 2. This Board of Directors estimates that in order to finance the Facilities it is
necessary to incur bonded indebtedness of the proposed Temecula Public Financing Authority
Community Facilities District No. 20-01 (Heirloom Farms) (the "District") in the amount of not
to exceed$17,000,000.
Section 3. The bonded indebtedness is proposed to be incurred for the purpose of financing
all or a portion of the costs of the Facilities, including costs incidental to or connected with the
accomplishment of said purposes and of the financing thereof.
Section 4. This Board of Directors, acting as legislative body for the District, intends to
authorize the issuance and sale of bonds in the maximum aggregate principal amount of
$17,000,000, bearing interest payable semi-annually or in such other manner as this Board of
Directors shall determine,at a rate not to exceed the maximum rate of interest as may be authorized
by applicable law at the time of sale of such bonds, and maturing not to exceed forty (40) years
from the date of the issuance of said bonds.
Section 5. Tuesday, April 13, 2021, at 7:00 p.m. or as soon thereafter as the matter may
be heard, in the regular meeting place of this Board of Directors, City Council Chambers,
Temecula City Hall, 41000 Main Street, Temecula, California, be, and the same are hereby
appointed and fixed as the time and place when and where this Board of Directors, as legislative
body for the District, will conduct a public hearing on the proposed debt issue and consider and
finally determine whether the public interest, convenience and necessity require the issuance of
bonds of the Authority for the District.
Section 6. The Secretary is hereby directed to cause notice of said public hearing to be
given by publication one time in a newspaper of general circulation circulated within the District.
The publication of said notice shall be completed at least seven (7) days before the date herein set
for said public hearing. The notice shall be substantially in the form of Exhibit A attached hereto.
Section 7. This Resolution shall take effect upon its adoption.
PASSED, APPROVED, AND ADOPTED by the Board of Directors of the Temecula
Public Financing Authority this 23`d day of February, 2021.
Maryann Edwards, Chair
ATTES •
Randi Johl, Secretary
[SEAL]
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STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss
CITY OF TEMECULA )
I, Randi Johl, Secretary of the Temecula Public Financing Authority, do hereby certify that
the foregoing Resolution No. TPFA 2021-02 was duly and regularly adopted by the Board of
Directors of the Temecula Public Financing Authority at a meeting thereof held on the 23id day of
February, 2021, by the following vote:
AYES: 5 BOARD MEMBERS: Alexander, Edwards, Rahn, Schwank,
Stewart
NOES: 0 BOARD MEMBERS: None
ABSTAIN: 0 BOARD MEMBERS: None
ABSENT: 0 BOARD MEMBERS: None
Randi Johl, Secretary
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EXHIBIT A
TEMECULA PUBLIC FINANCING AUTHORITY
COMMUNITY FACILITIES DISTRICT NO. 20-01
(HEIRLOOM FARMS)
NOTICE OF PUBLIC HEARING
Notice is hereby given that the Board of Directors of the Temecula Public Financing Authority
will conduct a public hearing on Tuesday, April 13, 2021 at 7:00 p.m. or as soon thereafter as
practicable, in the Temecula City Council chambers located at 41000 Main Street, Temecula,
California, to consider the following:
INTENT TO INCUR INDEBTEDNESS
TEMECULA PUBLIC FINANCING AUTHORITY
COMMUNITY FACILITIES DISTRICT NO 20-01
(HEIRLOOM FARMS)
On February 23, 2021, the Board of Directors of the Temecula Public Financing Authority
adopted 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. 20-01 (Heirloom Farms)" (the "Resolution of
Intention to Incur Indebtedness"). Reference is hereby made to the Resolution of Intention to Incur
Indebtedness on file in the office of the Secretary of the Temecula Public Financing Authority for further
particulars.
In the Resolution of Intention to Incur Indebtedness, the Board of Directors declared its
intention to authorize the issuance and sale of bonds in the maximum principal amount of$17,000,000
for the Temecula Public Financing Authority Community Facilities District No. 20-01 (Heirloom Farms)
to finance costs of certain public improvements. The testimony of all interested persons, including all
persons owning property in the area included in the proposed community facilities district, for or
against the proposed debt issuance will be heard at the public hearing.
Any person interested in these matters is invited to attend and present testimony either for or
against the above item. If you challenge the proposed action in court, you may be limited to raising
only those issues you or someone else raised at the public hearing described in this notice or in written
correspondence delivered to the Board of Directors at or prior to the public hearing.
IMPORTANT NOTICE REGARDING
PUBLIC PARTICIPATION AT THE COUNCIL MEETING
The Council meeting will be conducted utilizing teleconferencing and electronic means
consistent with State of California Executive Order N-29-20, dated March 17, 2020, regarding the
COVID-19 pandemic. The live stream of the meeting may be viewed on television and/or online.
Details can be found at temeculaca.gov/tv. In accordance with Executive Order N-29-20, the public
may only view the meeting on television and/or online and not in the Council Chamber.
Submission of Public Comments: For those wishing to make public comments during the
conduct of the public hearing at the Council meeting, please submit your comments by email to be
read aloud at the meeting by the City Clerk. Email comments must be submitted to the City Clerk at
randi.johl@temeculaca.gov. Email comments must be submitted prior to the time public comments
are closed during the conduct of the public hearing. All email comments shall be subject to the same
rules as would otherwise govern speaker comments at the Council meeting. Electronic comments
regarding the above described matter for the April 13, 2021 Council meeting may only be submitted
via email and comments via text and social media (Facebook, Twitter, etc.) will not be accepted.
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Reading of Public Comments: The City Clerk shall read all email comments, provided that the
reading shall not exceed three (3) minutes, or such other time as the Council may provide, consistent
with the time limit for speakers at a Council meeting. The email comments submitted shall become
part of the record of the Council meeting.
/s/ Randi Johl
Secretary, Temecula
Public Financing Authority
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