HomeMy WebLinkAboutRES 2003-45 - Board TRUCKEE DONNER
PUblic Utility District
RESOLUTION NO. 2003-45
RESOLUTION OF THE BOARD OF DIRECTORS OF THE TRUCKEE
DONNER PUBLIC UTILITY DISTRICT, ACTING AS THE
LEGISLATIVE BODY OF TRUCKEE DONNER PUBLIC UTILITY
DISTRICT COMMUNITY FACILITIES DISTRICT NO. 03-1 (OLD
GREENWOOD), DETERMINING IT NECESSARY TO INCUR BONDED
INDEBTEDNESS WITHIN SAID COMMUNITY FACILITIES DISTRICT
WHEREAS, on August 6, 2003, pursuant to a petition filed by Truckee Land, LLC (the
"Petitioner"), the Board of Directors (the "Board of Directors") of the Truckee Donner Public Utility
District (the "Public Utility District") adopted a resolution stating its intention to form Truckee
Donner Public Utility District Community Facilities District No. 03-1 (Old Greenwood) (the
"Community Facilities District") pursuant to the Mello-Roos Community Facilities Act of 1982, as
amended(the"Act"); and
WHEREAS, a copy of said resolution, setting forth a description of the proposed boundaries
of the Community Facilities District, the facilities to be financed by the Community Facilities
District and the rate and method of apportionment of the special tax proposed to be levied within the
Community Facilities District, is on file with the Clerk of the Public Utility District (the "District
Clerk") and is incorporated herein by reference; and
WHEREAS, on August 6, 2003, the Board of Directors also adopted a resolution stating its
intention to incur bonded indebtedness in an amount not to exceed $15,000,000 for the purpose of
financing (i)the cost of purchasing, constructing, expanding, improving or rehabilitating certain
street, water and sewer improvements, and all appurtenances and appurtenant work in connection
with the foregoing (collectively, the "Facilities") and (ii)the incidental expenses incurred and to be
incurred in connection with financing the Facilities, including costs associated with the creation of
the Community Facilities District and the issuance of bonds and the establishment and replenishment
of bond reserve and special reserve funds (the "Incidental Expenses"), all as more fully described in
said resolution; and
WHEREAS, notice was published and mailed as required by law relative to the intention of
the Board of Directors to form the Community Facilities District and to incur bonded indebtedness in
an amount not to exceed$15,000,000 within the boundaries of the Community Facilities District; and
WHEREAS, the Board of Directors has held a public hearing as required by law to
determine whether it should proceed with the formation of the Community Facilities District, issue
bonds to pay for the Facilities and the Incidental Expenses and authorize the rate and method of
apportionment of a special tax to be levied within the Community Facilities District for the purposes
described in the aforesaid resolutions; and
WHEREAS, at said hearing all persons desiring to be heard on all matters pertaining to the
formation of the Community Facilities District, the levy of a special tax and the issuance of bonds to
pay for the cost of the proposed Facilities and Incidental Expenses were heard, and a full and fair
hearing was held; and
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WHEREAS, the Board of Directors desires to make the necessary findings to incur bonded
indebtedness within the Community Facilities District, to declare the purpose for such indebtedness,
and to authorize the submittal of a combined ballot proposition to the qualified electors of the
Community Facilities District, being the land owners within the Community Facilities District, all as
authorized and required by law; and
NOW, THEREFORE, THE BOARD OF DIRECTORS OF TRUCKEE DONNER
PUBLIC UTILITY DISTRICT DOES HEREBY RESOLVE, DETERMINE AND ORDER AS
FOLLOWS:
Section 1. The above recitals are true and correct.
Section 2. In order to finance the Facilities and Incidental Expenses, it is necessary to
incur bonded indebtedness in a maximum aggregate principal amount not to exceed $15,000,000
within the Community Facilities District.
Section 3. The aforesaid bonded indebtedness is to be incurred for the purpose of
financing the costs of purchasing, constructing, expanding, improving or rehabilitating the Facilities
and financing the Incidental Expenses.
Section 4. All of the property within the Community Facilities District, as established
pursuant to the Resolution of Formation, with the exception of property exempted from the special
tax pursuant to the provisions of the rate and method of apportionment attached to the Resolution of
Formation, shall pay for the bonded indebtedness pursuant to the levy of the special tax authorized by
the Resolution of Formation.
Section 5. The maximum term of the Bonds to be issued shall in no event exceed
40 years; and the bonds shall bear interest at rates (not in excess of the maximum rate permitted by
law)determined at the time of sale thereof.
Section 6. An election is hereby called for the Community Facilities District on the
proposition of incurring bonded indebtedness pursuant to Section 53351 of the Act and shall be
consolidated with the election on the propositions of levying the special tax on the property within
the Community Facilities District and establishing an appropriations limit for the Community
Facilities District pursuant to Section 53325.7 of the Act. The language of the proposition to be
placed on the ballot is attached hereto as Attachment A.
Section 7. The date of the election for the Community Facilities District on the
proposition of incurring the bonded indebtedness, authorizing the levy of the special tax and
establishing the appropriations limit for the Community Facilities District shall be October 14, 2003.
The District Clerk shall conduct the election. Except as otherwise provided by the Act, the election
shall be conducted by personally delivered or mailed ballot and in accordance with the provisions of
law regulating elections of the Public Utility District insofar as such provisions are determined by the
District Clerk to be applicable.
It is hereby found that there have been fewer than twelve persons registered to vote within the
territory of the Community Facilities District for each of the ninety days preceding the close of the
public hearing described above; and, pursuant to Section 53326 of the Government Code, each
landowner who is the owner of record on the date hereof or the authorized representative thereof
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shall have one vote for each acre or portion thereof that he or she owns within the Community
Facilities District.
ADOPTED and APPROVED by the Board of Directors of the Truckee Donner Public
Utility District on this 14th day of October, 2003 by the following vote:
AYES: Directors Aguera, Hemig and Van Gundy
NOES: Director Sutton
ABSENT: None
RECUSE: Director Maass
ABSTAIN: None
TRUCKEE DONNER UBLIC UTILIT DISTRICT
By: 4t,
V !On4
Oo�n Hemig, President of the Boa of Directors
ATTEST:
Peter L. Holzmeister, District Clerk
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ATTACHMENT A
BALLOT PROPOSITION
TRUCKEE DONNER PUBLIC UTILITY DISTRICT
COMMUNITY FACILITIES DISTRICT NO. 03-1 (OLD GREENWOOD)
SPECIAL ELECTION
MEASURE SUBMITTED TO VOTE OF VOTERS: Shall Truckee
Donner Public Utility District Community Facilities District
No. 03-1 (Old Greenwood) (the "Community Facilities District")
incur an indebtedness and issue bonds in the maximum aggregate
principal amount of$15,000,000, with interest at a rate or rates not
to exceed the maximum interest rate permitted by law, the proceeds
of which will be used to finance the costs of planning, designing,
constructing, acquiring, modifying, expanding, improving,
furnishing, equipping or rehabilitating certain real and other tangible
property with an estimated useful life of five years or longer,
consisting of certain street, water and sewer system and
appurtenances and appurtenant work (collectively, the "Facilities")
and to finance the incidental expenses associated therewith (the YES
"Incidental Expenses"), all as further provided in the resolution of
the Board of Directors of the Truckee Donner Public Utility District NO
establishing the Community Facilities District (the "Resolution of
Formation"), and shall a special tax with a rate and method of
apportionment as provided in the Resolution of Formation be
authorized to be levied, and shall the annual appropriations limit of
Community Facilities District No. 03-1 (Old Greenwood) be
established in the amount of$15,000,000?
A-1