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
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. 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.
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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
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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?
A-1
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