HomeMy WebLinkAbout06-05 TPFA Resolution
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RESOLUTION NO. TPFA 06-05
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. 03-3 (WOLF
CREEK)
THE BOARD OF DIRECTORS OF THE TEMECUlA PUBLIC FINANCING
AUTHORITY DOES HEREBY RESOLVE AS FOllOWS:
Section 1. The Temecula Public Financing Authority is the legislative body for
Community Facilities District No. 03-3 (Wolf Creek) (the "CFD"), created pursuant to the
Mello-Roos Community Facilities District Act of 1982, as amended (the "Act").
Section 2. The Board of Directors has enacted Ordinance No. TPFA 03-02 in
accordance with Government Code Section 53340 authorizing the levy of a special tax
assessment on the property located within the CFD.
Section 3. 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.
Section 4. Pursuant to the provisions of Resolution No. TPFA 03-22 and
Ordinance No. TPFA 03-02, there is to be levied an aggregate special tax of
$2,212,215.95 on the taxable parcels located in the CFD for Fiscal Year 2006-07 as set
forth on a magnetic tape to be provided by NBS to the Auditor-Controller of the County.
Section 5. The special tax levy set forth above does not exceed the amount
previously authorized by Resolution No. TPFA 03-22 and Ordinance No. TPFA 03-2,
and is not in excess of that previously approved by the qualified electorate of the CFD.
Section 6. 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.
B. Replenishment of the required bond reserve funds, or other reserve funds,
if necessary.
C. Payment of the administrative costs and incidental expenses of the CFD,
as provided in Resolution No. TPFA 03-22 and the indenture of trust for
the CFD and the Act.
The proceeds of the special tax levy shall be used as set forth above, and shall not be
used for any other purpose.
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Section 7. 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 No. 03-3 (Wolf Creek)" on the next County assessment roll on which taxes will
become due.
Section 8. 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 9. The Authority Secretary shall certify adoption of the resolution.
PASSED, APPROVED, AND ADOPTED by the Board of Directors of the Temecula
Public Financing Authority this 25th day of July, 2006.
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Ron Roberts, Chairperson
ATTEST:
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[SEAL]
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R:rrPFA Reses 2006ITPFA 06-05
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STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss
CITY OF TEMECULA )
I, Susan W. Jones, MMC, City Clerk/Board Secretary of the Temecula Public
Financing Authority, do hereby certify that the foregoing Resolution No. TPFA 06-05 was
duly and regularly adopted by the Board of Directors of the Temecula Public Financing
Authority at a meeting thereof held on the 25th day of July, 2006, by the following vote:
AYES: 5
BOARD MEMBERS:
NOES: 0
BOARD MEMBERS:
ABSENT: 0
ABSTAIN: 0
BOARD MEMBERS:
BOARD MEMBERS:
R:rrPFA Reses 2006ITPFA 06-05
Comerchero, Edwards, Naggar,
Washington, Roberts
None
None
None
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Susan . Jones, MMC
City Clerk/B ard Secretary
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