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HomeMy WebLinkAboutRES 2004-28 - Board TRUCKEE DONNER Resolution No. 2004 - 28 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. 04-1 (GRAY'S CROSSING), DETERMINING IT NECESSARY TO INCUR BONDED INDEBTEDNESS WITHIN SAID COMMUNITY FACILITIES DISTRICT WHEREAS, on June 16, 2004, pursuant to a petition filed by Gray's Crossing, 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. 04-1 (Gray's Crossing) (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,the proposed boundaries of the Community Facilities District, as set forth in the Resolution of Intention, were amended by a resolution adopted by the Board of Directors on July 21, 2004, which resolution approved an amended map of the boundaries of the Community Facilities District and a copy of which resolution is on file with the District Clerk and is incorporated herein by reference; and WHEREAS, on June 16, 2004, the Board of Directors also adopted a resolution stating its intention to incur bonded indebtedness in an amount not to exceed $35,000,000 for the purpose of financing (i)the cost of purchasing, constructing, expanding, improving or rehabilitating certain water supply and distribution and fire suppression facilities; electrical supply and distribution facilities; street improvements; public plazas, parks and trails; sanitary sewer facilities; storm drains and flood control facilities; utility facilities and mitigation associated with the foregoing as well as appurtenances and appurtenant work (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$35,000,000 within the boundaries of the Community Facilities District; and 1 . 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 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, ACTING AS THE LEGISLATIVE BODY OF TRUCKEE DONNER PUBLIC UTILITY DISTRICT COMMUNITY FACILITIES DISTRICT NO. 04-1 (GRAY'S CROSSING), 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 $35,000,000 within the Community Facilities District. Section 3. The aforesaid bonded indebtedness is to be incurred for the purpose of financing the costs of planning, designing, constructing, acquiring, modifying, expanding, improving, furnishing, equipping 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. 2 Resolution 2004-28 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 July 21, 2004. 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 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 21 st day of July,2004 by the following vote: AYES: Directors Aguera, Hemig and Van Gundy NOES: Director Sutton RECUSE: Director Maass ABSENT: None ABSTAIN: None TRUCKEE DONNER PUBLIC UTILITY DISTRICT By: 6-- Jam A. Maass, President ATTEST: Peter L. Holzmeis er,District Clerk 3 Resolution 2004-28 ATTACHMENT A BALLOT PROPOSITION TRUCKEE DONNER PUBLIC UTILITY DISTRICT COMMUNITY FACILITIES DISTRICT NO. 04-1 (GRAY'S CROSSING) SPECIAL ELECTION MEASURE SUBMITTED TO VOTE OF VOTERS: Shall Truckee Donner Public Utility District Community Facilities District No. 04-1 (Gray's Crossing) (the "Community Facilities District") incur an indebtedness and issue bonds in the maximum aggregate principal amount of$35,000,000, 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 water supply and distribution and fire suppression facilities; electrical supply and distribution facilities; street improvements; public plazas, parks and trails; sanitary sewer facilities; storm drains and flood control YES facilities; utility facilities and mitigation associated with the foregoing as well as appurtenances and appurtenant work (collectively, the NO "Facilities") and to finance the incidental expenses associated therewith (the "Incidental Expenses"), all as further provided in the Resolution of the Board of Directors of the Truckee Donner Public Utility District 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. 04-1 (Gray's Crossing) be established in the amount of$35,000,000? 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