HomeMy WebLinkAbout97-04 WIA ResolutionRF~OLUTION NO. WIA 9704
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
WESTSIDE IMPROVEMENT AUTHORITY OF INTENTION
TO INCUR BONDED INDEBT!~DNF~S OF THE PROPOSED
WESTSIDE IMPROVEMIgeNT AUTHORITY COMMUNITY
FACILmES DISTRICT NO. 1 (ROGERSDALE AREA)
PURSUANT TO THE MELLO-ROOS COMMUNITY
FACILITIF_~ ACT OF 1982
WHF_,REAS, this Board of Directors has this date adopted its Resolution entitled "A
Resolution of the Board of Directors of the Westside Improvement Authority of Intention to
Establish a Community Facilities District and To Authorize the Levy of Special Taxes Pursuant
to the Mello-Roos Community Facilities Act of 1982", stating its intention to form a community
facilities district pursuant to the Mello-Roos Community Facilities Act of 1982, as amended (the
"Act"), Clmptet 2.5 of Part 1 of Division 2 of Title 5 of the California Government Code, for the
purpose of financing certain public improvements (the "Facilities") and services, as further
provided in said Resolution; and
WHEREAS, this Board of Directors estimates the amount required for the financing of
a portion of the costs of the Facilities to be the sum of not to exceed $28,000,000; and
WHEREAS, in order to finance a portion of the costs of said Facilities it is necessary to
incur bonded indebtedness in the amount of not to exceed $30,000,000.
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the Westside
Improvement Authority as follows:
Section 1. It is necessary to incur bonded indebtedness within the boundaries' of the
proposed Westside Improvement Authority Community Facilities District No. 1 (RogersDale
Area) (the "District") in the amount of up to $30,000,000 to finance the costs of the Facilities.
Section 2. The bonded indebtedness is proposed to be incurred for the purpose of
financing the costs of the Facilities, including acquisition and improvement costs and all costs
incidental to or connected with the accomplishment of said purposes and of the financing thereof,
as permitted by Section 53345.3 of the Act.
Section 3. 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 not to
exceed $30,000,000, 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 40
ReMs.WIA/97-04 1
...... years from the date of the issuance of said bonds.
Section 4. Tuesday, January 13, 1998, at 7:00 p.m., in the City Council Chambers,
43200 Business Park Drive, 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 5. 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. Said notice shall substantially in the form of Exhibit A hereto.
PASSED, APPROVED AND ADOPTED, by the Board of Direc/~rs of the Westsid~
Improvement Authority at a regular meeting held on the 9th day of Decefyr, 1997.
~S~en J. F~rd, Chairp~-~rson
CMC/AAE
City Clerk/Authority Secretary
[SEAL]
R~sos .WIAD7-04 2
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss
CITY OF TEMECULA )
I, June S. Greek, Secretary of the Westside Improvement Authority, do hereby certify that the
foregoing Resolution WIA No. 97-04 was duly and regularly adopted by the Board of Directors of
the Westside Improvement Authority at a regular meeting thereof held on the 9th day of December,
1997, by the following vote:
AYES:
4 AUTHORITY .MEMBERS: Comerchero, Lindenram, Roberts, Ford
NOES:
0 AUTHORITY MEMBERS: None
ABSENT:
0 AUTHORITY MEMBERS: None
ABSATINED
1 AUTHORITY MEMBERS: Stone
June S. Greek, CMC/AAE
City Clerk/Authority Secretary
Resos .WIA/97-04 3
NOTICE OF PUBLIC HEARING
Westside Improvement Authority
Community Facilities District No. 1
(RogersDale Area)
Notice is hereby given that on December 9, 1997, the Board of Directors of the Westside
Improvement Authority adopted a Resolution entitled "A Resolution of the Board of Directors of the
Westside Improvement Authority of Intention To Incur Bonded Indebtedness of the Proposed
Westside Improvement Authority Community Facilities District No. 1 (RogersDale Area) Pursuant
To The Mello-Roos Community Facilities Act of 1982". Pursuant to the Mello-Roos Community
Facilities Act of 1982 (the "Act") the Board of Directors hereby gives notice as follows.'
A. The text of said Resolution is as follows~
WHEREAS, this Board of Directors has this date adopted its Resolution entitled "A
Resolution of the Board of Directors of the 'Westside Improvement Authority of Intention to
Establish a Community Facilities District and To Authorize the Levy of Special Taxes Pursuant to
the Mello-Roos Community Facilities Act of 1982", stating its intention to form a community
facilities district pursuant to the Mello-Roos Community Facilities Act of 1982, as amended (the
"Act"), Chapter 2.5 of Part 1 of Division 2 of Title 5 of the California Government Code, for the
purpose of financing certain public improvements (the "Facilities") and services, as further provided
in said Resolution; and
WHEREAS, this Board of Directors estimates the amount required for the financing of a
portion of the costs of the Facilities to be the sum of not to exceed $28,000,000; and
WHEREAS, in order to finance a portion of the costs of said Facilities it is necessary to incur
bonded indebtedness in the amount of not to exceed $30,000,000.
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the Westside
Improvement Authority as follows:
Section 1. It is necessary to incur bonded indebtedness within the boundaries of the
proposed Westside Improvement Authority Community Facilities District No. 1 (RogersDale Area)
(the "District") in the amount of up to $30,000,000 to finance the costs of the Facilities.
Section 2. The bonded indebtedness is proposed to be incurred for the purpose of
financing the costs of the Facilities, including acquisition and improvement costs and all costs
incidental to or connected with the accomplishment of said purposes and of the financing thereof, as
permitted by Section 53345.3 of the Act.
Re. sos .WIA/97-04 4
Section 3. 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 not to exceed
$30,000,000, 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 40 years from the date
of the issuance of said bonds.
Section 4. Tuesday, January 13, 1998, at 7:00 p.m., in the City Council Chambers, 43200
Business Park Drive, 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 5. The Secretary is hereby directed to cause notice of said public hearing to be
given by pubh'c~tion 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. Said notice shall substantially in the form of Exhibit A hereto.
A. The hearing referred to in the aforesaid Resolution is to be held at the time and
place specified in said Resolution.
B. At that time and place the testimony of all interested persons, including persons
owning property in the area of the proposed community facilities district, will be heard.
Dated: December 9, 1997
By: /~/ June S. Creel CMC
Secretary, Westside Improvement Authority
Resos.WIA/97-04 5