HomeMy WebLinkAboutCertificate of David Taussig & Associates, Special Tax Consultant, pursuant to Section 3(d)(21) of the Purchase Agreement
Quint & Thimmig LLP 4/21/2006 $51,250,000 TEMECULA PUBLIC FINANCING AUTHORITY COMMUNITY FACILITIES DISTRICT NO. 03-02 (RORIPAUGH RANCH) 2006 SPECIAL TAX BONDS CERTIFICATE OF SPECIAL
TAX CONSULTANT David Taussig & Associates, Inc. (the "Special Tax Consultant"), has assisted in the formulation of the Special Tax described in the Official Statement dated April 13,
2006 (the "Official Statement") prepared in connection with the issuance by the Temecula Public Financing Authority (the "Authority") of its Community Facilities District No. 03-2 (Roripaugh
Ranch) 2006 Special Tax Bonds, Series (the "Bonds"). The Special Tax Consultant hereby certifies that: (i) if the Special Tax is levied in accordance with the terms as set forth in the
Rate and Method of Apportionment of Special Tax of the Temecula Public Financing Authority Community Facilities District No. 03-02 (Roripaugh Ranch) (the "District"), and collected,
the amount of the levy will be sufficient to make timely payments of debt service and estimated annual administrative expenses on the Bonds, provided that acreage and number of units
supplied by the District, by Ashby USA, LLC, or by any of their agents, which has been relied upon by the Special Tax Consultant is true and correct (no representation is made as to
the actual amounts that will be collected in future years); (ii) the amount of the maximum Special Taxes that may be levied in each Fiscal Year is at least 110% of the annual debt service
for the Bonds for each such Fiscal Year, assuming that the net taxable acreage and projected development figures provided to the Special Tax Consultant by Ashby USA, LLC are true and
correct; (iii) the summary of the Rate and Method of Apportionment of the Special Taxes in the section captioned "SECURITY FOR THE 2006 BONDS -Special Taxes" is true and correct in all
material respects and that the description of the Rate and Method in Appendix B is correctly presented in all material respects; and (iv) that, as of the dates of the Preliminary Official
Statement and and the Official Statement the information that the Special Tax Consultant provided and included in those portions of the Official Statement entitled "INTRODUCTION -The
Community Facilities District," "INTRODUCTION -Sources of Payment for the 2006 Bonds," "SECURITY FOR THE 2006 BONDS -Special Taxes," "SECURITY FOR THE 2006 BONDS -Rate and Method," "PROPERTY
OWNERSHIP AND DEVELOPMENT -Estimated Special Tax Allocation by Property Ownership," PROPERTY OWNERSHIP AND DEVELOPMENT -Estimated Assessed Value-to-Lien Ratios," BONDOWNERS' RISKS -Levy
and Collection of the Special Tax; Insufficiency of the Special Tax," "BONDOWNERS' RISKS -Exempt Properties," and in the Tables of the Official Statement captioned "Table 1 Temecula
Public Financing Authority Community Facilities District No. 03-2 (Roripaugh Ranch) Property Ownership and Development Status" and "Table 6 Temecula Public Financing Authority Community
Facilities
District No. 03-2 (Roripaugh Ranch) Owners of Taxable Property as of Janaury 15, 2006 and Estimated Allocation of Special Tax Liability Fiscal Year 2006-07," "Table 8 Temecula Public
Finance Authority Community Facilities District No. 03-2 (Roripaugh Ranch) Estimated Valueto-Lien Analysis Assuming Current Status of Developemnt (As of Jnaury 15, 2006 Date of Value),"
"Table 7 Temecula Public Finance Authority Community Facilities District No. 03-2 (Roripaugh Ranch) Estimated Value-to-Lien Analysis at Build-Out (Utilizing Appraisal Values)" and "Appendix
B" and the other data provided by the Special Tax Consultant and included in the Official Statement, do not, to my knowledge, contain any untrue statement of a material fact or omit
to state a material fact necessary to make the statements made therein, in light of the circumstances under which they were made, not misleading. Dated: April 27, 2006 DAVID TAUSSIG
& ASSOCIATES, INC., as Special Tax Consultant Authorized Repres