Loading...
HomeMy WebLinkAbout2005-11-08; City Council; Resolution 2005-330I 2 3 4 5 6 7 8 9 IO I1 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Exhibit 3 RESOLUTION NO. 2005330 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD, CALIFORNIA, DETERMINING THE NECESSITY TO INCUR A BONDED INDEBTEDNESS FOR EACH IMPROVEMENT AREA OF COMMUNITY FACILITIES DISTRICT NO. 3, SUBMllTlNG TO THE QUALIFIED ELECTORS OF EACH SUCH IMPROVEMENT AREA SEPARATE PROPOSITIONS TO AUTHORIZE THE LEVY OF A SPECIAL TAX WITHIN EACH SUCH IMPROVEMENT AREA, TO AUTHORIZE SUCH COMMUNITY FACILITIES DISTRICT TO INCUR A BONDED INDEBTEDNESS FOR EACH SUCH IMPROVEMENT AREASECURED BY THE LEVY OF A SPECIAL TAX WITHIN SUCH IMPROVEMENT AREA TO FINANCE CERTAIN PUBLIC FACILITIES AND TO ESTABLISH AN APPROPRIATIONS LIMIT FOR SUCH COMMUNITY FACILITIES DISTRICT, AND GIVING NOTICE THEREON WHEREAS, the CITY COUNCIL of the CITY OF CARLSBAD (the “City Council”), has previously declared its intention and held and conducted a public hearing relating to the issuance of bonds to be secured by special taxes to finance certain public facilities in a community facilities district and improvement areas designated therein, as authorized pursuant to the terms and provisions of the “Mello-Roos Community Facilities Act of 1982”, being Chapter 2.5, Part I, Division 2, Title 5 of the Government Code of the State of California (the “Act”). This Community Facilities District shall hereinafter be referred to as COMMUNITY FACILITIES DISTRICT NO. 3 (the “District”) and the improvement areas shall be designated as IMPROVEMENT AREA I and IMPROVEMENT AREA 2 (each, an “Improvement Area” and, collectively, the “Improvement Areas”); and, WHEREAS, at this time the City Council desires to proceed to make the determination of necessity to incur a separate bonded indebtedness for each of the Improvement Areas, to declare the purposes for such debt, and to authorize the submittal of a separate proposition to the qualified electors of each such Improvement Area, being the landowners of each such Improvement Area, all as authorized and required by law; WHEREAS, the City Council further desires to authorize the submittal of propositions to such qualified electors of each Improvement Area to (a) authorize the levy of special 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Exhibit 3 taxes within each such Improvement Area and (b) to establish an appropriation limit for the District; WHEREAS, all of the qualified electors of each Improvement Area have waived the time limits specified in the Act pertaining to the conduct of the election and the requirements for impartial legal analysis and arguments have also been waived by the unanimous consent of the qualified electors of each Improvement Area; and WHEREAS, the City Clerk, as the Election Official, has concurred in the shortening of time for conducting the election. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF CARLSBAD HEREBY RESOLVES AS FOLLOWS: 1. RECITALS. The above recitals are all true and correct. 2. NECESSITY FOR BOND ISSUES. The City Council hereby expressly declares and states that it is necessary to incur a separate bonded indebtedness of the District for each Improvement Area thereof as authorized under the terms and provisions of the Act, in order to finance the facilities described in Exhibit A attached hereto and incorporated herein by this reference (the “Facilities”). 3. BOND INDEBTEDNESS FOR IMPROVEMENT AREA 1. The specific purposes for the proposed bonded indebtedness for Improvement Area I are as follows: To finance a portion of the costs of the acquisition or construction of the Facilities, appurtenances and appurtenant work and any and all of those applicable incidental costs described in and authorized by Government Code Section 53345.3. 4. BOND INDEBTEDNESS FOR IMPROVEMENT AREA 2. The specific purposes for the proposed bonded indebtedness for Improvement Area 2 are as follows: To finance a portion of the costs of the acquisition or construction of the Facilities, appurtenances and appurtenant work and any and all of those 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Exhibit 3 applicable incidental costs described in and authorized by Government Code Section 53345.3. 5. This City Council determines that the property within Improvement Area 1 will pay for the bonded indebtedness referred to in Section 3 above. A general description of Improvement Area 1 is as follows: TERRITORY TO PAY FOR BONDED INDEBTEDNESS. All property within the boundaries of Improvement Area 1 of Community Facilities District No. 3, as shown on a map as previously approved by the City Council, such map designated by the name of this District, a copy of which is on file in the Office of the City Clerk (the “Boundary Map”). This City Council determines that the property within Improvement Area 2 will pay for the bonded indebtedness referred to in Section 4 above. A general description of Improvement Area 2 is as follows: All property within the boundaries of Improvement Area 2 of Community Facilities District No. 3, as shown on the Boundary Map. 6. BOND AMOUNT. The amount of the proposed bonded indebtedness, including the cost of the Facilities, together with all incidental expenses, shall not exceed the following: A. Improvement Area 1 - $14,000,000 B. Improvement Area 2 - $21,000,000 7. BOND TERM This City Council hereby further determines that the maximum term of bonds and/or any series shall not exceed forty (40) years, and such bonds may be issued in differing series, at differing times. The maximum rate of interest to be paid on such bonds may not exceed the greater of either twelve percent (12%) per annum or the maximum rate permitted by law at the time of sale of any of such bonds. The bonds issued for each Improvement Area, except where other funds are made available, shall be paid 37 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Exhibit 3 exclusively from the annual levy of the special tax within such Improvement Area, and are not secured by any other taxing power or funds of the District or the City. 8. ACCOUNTABILITY MEASURES. Pursuant to and in compliance with the provisions of Article I .5 (commencing with Section 53410) of Chapter 3 of Part 1 of Division 2 of Title 5 of the Government Code, this City Council hereby establishes the following accountability measures pertaining to any bonded indebtedness incurred by or on behalf of the District: A. Such bonded indebtedness shall be incurred for the applicable specific purposes set forth in the Section 3 or 4 above, as applicable. B. The proceeds of any such bonded indebtedness shall be applied only to the applicable specific purposes identified in Section 3 or 4 above, as applicable. C. The document or documents establishing the terms and conditions for the issuance of any such bonded indebtedness shall provide for the creation of an account into which the proceeds of such indebtedness shall be deposited. D. The City Manager or his or her designee, acting for and on behalf of the District, shall annually file a report with this City Council as required by Government Code Section 5341 1. 9. ELECTION. The propositions related to the incurring of the bonded indebtedness shall be submitted to the appropriate qualified voters, together with ballot propositions to authorize the levy of special taxes within the Improvement Areas and to establish an appropriations limit for the District, at a special election to be held on November 8, 2005, and such election shall be a special election to be conducted by the City Clerk (the “Election Official”). If any proposition for the levy of the special tax and any proposition for incurring the bonded indebtedness receives the approval of two-thirds (2/3) or more of the votes cast on each respective proposition, bonds may be authorized, issued and sold for the applicable purposes set forth herein and the applicable special tax may be levied as provided in resolution forming and establishing the District. If the proposition to establish the 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Exhibit 3 appropriations limit for the District receives the approval of a majority of the votes cast on such proposition, such appropriations limit shall be established. IO. BALLOTS. The ballot proposals to be submitted to the qualified voters of each Improvement Area the election shall generally be as follows: IMPROVEMENT AREA 1 PROPOSITION A Shall the City of Carlsbad Community Facilities District No. 3, subject to accountability measures required by California Government Code Section 50075.1, levy a special tax throughout Improvement Area 1 of such district pursuant to the rate and method of apportionment thereof set forth in the resolution forming and establishing such district for the purposes of paying debt service on bonds of such district issued for Improvement Area I, replenishing the reserve fund for such bonds, paying costs of administering such indebtedness and such district and paying directly for the facilities described in such resolution? PROPOSITION B Shall the City of Carlsbad Community Facilities District No. 3, subject to the accountability measures required by California Government Code Section 5341 0, incur a bonded indebtedness for Improvement Area 1 of such district in an amount not to exceed $14,000,000 for the specific purposes set forth in such resolution? Ill Ill 39 I 2 3 4 5 6 7 a 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 IMPROVEMENT AREA 2 PROPOSITION C Shall the City of Carlsbad Community Facilities District No. 3, subject to accountability measures required by California Government Code Section 50075.1, levy a special tax throughout Improvement Area 2 of such district pursuant to the rate and method of apportionment thereof set forth in the resolution forming and establishing such district for the purposes of paying debt service on bonds of such district issued for Improvement Area 2, replenishing the reserve fund for such bonds, paying costs of administering such indebtedness and such district and paying directly for the facilities described in such resolution? PROPOSITION D Shall the City of Carlsbad Community Facilities District No. 3, subject to the accountability measures required by California Government Code Section 5341 0, incur a bonded indebtedness for Improvement Area 2 of such district in an amount not to exceed $21,000,000 for the specific purposes set forth in such resolution? IMPROVEMENT AREAS 1 AND 2 PROPOSITION E Shall the City of Carlsbad Community Facilities District No. 3 establish an Article XlllB appropriations limit equal to $35,000,000? Exhibit 3 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Exhibit 3 11. VOTE The appropriate mark placed on line before the word “YES” shall be counted in favor of the adoption of the proposition, and the appropriate mark placed on the line before the word “NO” in the manner as authorized, shall be counted against the adoption of such proposition. 12. ELECTION PROCEDURE The Election Official is hereby authorized to take any and all steps necessary for the holding of such election. The Election Official shall perform and render all services and proceedings incidental to and connected with the conduct of the election, which services shall include, but not be limited to, the following activities as are appropriate to the election: A. the .conduct of the election. B. other necessary forms. C. Furnish and address official ballots for the qualified electors of each Improvement Area. D. authorized representatives, as required by law. E. F. canvassing of the returns. G. Canvass the returns of the election. H. Furnish a tabulation of the number of votes given in the election. I. Make all arrangements and take the necessary steps to pay all costs of the election incurred as result of services performed by the District and pay costs and expenses of all election officials. J. of the election in the manner and form as required by law. Prepare and furnish to the election officers necessary election supplies for Cause to be printed the requisite number of official ballots, tally sheets and Cause the official ballots to be delivered to the qualified electors or their Receive the returns of the election and supplies. Sort and assemble the election material and supplies in preparation for the Conduct and handle all other matters relating to the proceedings and conduct 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Exhibit 3 PASSED, APPROVED AND ADOPTED at a Regular Meeting of the City Council of the City of Carlsbad on the 8th day of November, 2005 by the following vote, to wit: AYES: Council Members Lewis, Hall, Kulchin, Packard, Sigafoose NOES: None ABSENT: None A CLAUDE A. LEWIS, Mayor Attest: LORRAINE M. WOODyty Clerk Exhibit 3 EXHIBIT A DESCRIPTION OF THE FACILITIES The Facilities proposed to be financed by the District include the following: 1. improvement A - Palomar Airport Road Widening from West of Melrose Drive Intersection to the Vista City Limits (as shown on Drawing No. 399-4). Grading to prime arterial standards (but not to include grading outside the right-of-way in future developed areas), erosion control landscaping and irrigation located within an easement granted to the City, parkway landscaping and irrigation (located within a easement granted to the City), asphalt pavement to prime arterial standard width, raised median in certain areas, median curb, median hardscaping and landscaping with irrigation, curb and gutter, sidewalk, storm drain facilities within the City right-of-way and easements (excluding any Master Drainage Plan facilities and water lines), appurtenant to Palomar Airport Road construction, dry utilities which are non-refundable or non-reimbursable by the utility agency and which are located within the right-of-way, modification of an existing traffic signal at Paseo Valindo, relocation of existing utilities, environmental mitigation and incidental costs of construction to the extent permitted in the Acquisition/Financing Agreement. 2. Improvement B - Faraday Avenue from Orion Street to Melrose Drive. Full width grading to secondary arterial standards (but not to include grading outside of the right-of-way in future developed areas), erosion control landscaping and irrigation (located within an easement granted to the City), parkway landscaping and irrigation (located within an easement granted to the City), asphalt pavement to secondary arterial standard width, curb and gutter, sidewalk, storm drain facilities within the right-of-way (excluding Master Drainage Plan facilities subject to reimbursement from Local Drainage Area Fees), sewer, water and reclaimed water lines and appurtenances within the right-of-way (excluding any portion of such costs reimbursable from sewer and/or water connection fees), dry utilities which are non-refundable or non-reimbursable by the utility agency and which are located within the right-of-way, street lights, new traffic signals and a modification of any existing traffic signal (excluding those portions reimbursed from Traffic Impact Fees and Public Facilities Fees), relocation of existing utilities, environmental mitigation and incidental costs of construction to the extent permitted in the AcquisitionlFinancing Agreement. 3. Improvement C - Melrose Drive from Palomar Airport Road to the Vista City Limits (as shown on Drawing No. 399-4). Full width grading to prime arterial standards (but not to include grading outside of the right-of-way in future developed areas), erosion control landscaping and irrigation (located within an easement granted to the City), parkway landscaping and irrigation (located within an easement granted to the City), asphalt pavement to prime arterial standard width on either side of a raised median, median curb, median hardscaping and landscaping with irrigation, curb, gutter and sidewalk, storm drain facilities within the right-of-way (excluding any Master Drainage Plan facilities subject to reimbursement from Local Drainage Area Fees), sewer, water and reclaimed water lines and appurtenances within the right-of-way (excluding any portion of such costs reimbursable from sewer and/or water connection fees), dry utilities which are non-refundable or non- reimbursable by the utility agency and which are located within the right-of-way, street lights, one new traffic signal and a modification of an existing traffic signal at Palomar Airport Road (excluding those portions reimbursed from Traffic Impact Fees and Public Facilities Fees), relocation of existing utilities, environmental mitigation, and incidental costs of construction to the extent permitted in the Acquisition/Financing Agreement. L13 Exhibit 3 4. Improvement D - Melrose Drive construction of right turn lane south of Palomar Airport Road. 5. Improvement E - El Fuerte from northerly terminus to the future extension of Faraday Avenue. Full width grading to secondary arterial standards (but not to include grading outside of the right-of-way in future developed areas), erosion control landscaping and irrigation (located within an easement granted to the City), parkway landscaping and irrigation (located within an easement granted to the City) asphalt pavement to secondary arterial standard width, curb and gutter, sidewalk (excluding any Master Drainage Plan facilities subject to reimbursement from Local Drainage Area Fees). Sewer, water and reclaimed water lines and appurtenances within the right-of-way (excluding any portion of such costs reimbursable from sewer and/or water connection fees), dry utilities which are non-refundable or non-reimbursable by the utility agency and which are located within the right-of-way, street lights, one new traffic signal (excluding those portions reimbursed from Traffic Impact Fees and Public Facilities Fees), relocation of existing utilities, environmental mitigation and incidental costs of construction to the extent permitted in the Acquisition/Financing Agreement. 6. Improvement F - Palomar Airport Road construction of eastbound right turn lane onto Melrose Drive south of Palomar Airport Road.