HomeMy WebLinkAbout2024-02 TPFA ResolutionRESOLUTION NO. TPFA 2024-02
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.23-02 (PRADO)
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 — Prado," 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. 23-02 (Prado) (the "District") in the amount of not to exceed
$20,000,000.
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
$20,000,000, 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, February 27, 2024, at 6:00 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 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 January, 2024.
ATT
Rands 1, Secretary
[SEAL]
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James Stewart, Chair
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STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss
CITY OF TEMECULA )
1, Randi Johl, Secretary of the Temecula Public Financing Authority, do hereby certify that
the foregoing Resolution No. TPFA 2024-02 was duly and regularly adopted by the Board of
Directors of the Temecula Public Financing Authority at a meeting thereof held on the 23`d day of
January, 2024, by the following vote:
AYES: 4 BOARD MEMBERS: Alexander, Kalf is, 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. 23-02
(PRADO)
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, February 27, 2024 at 6:00 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 23-02
(PRADO)
On January 23, 2024, 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. 23-02 (Prado)" (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 $20,000,000
for the Temecula Public Financing Authority Community Facilities District No. 23-02 (Prado) 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.
/s/ Randi Johl
Secretary, Temecula
Public Financing Authority
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