HomeMy WebLinkAboutCity Council - 6161 RESOLUTION NO. 6161
A RESOLUTION OF FORMATION OF COMMUNITY FACILITIES DISTRICT
NO. 1990-1 (GOLDENWEST/ELLIS AREA) , AUTHORIZING THE LEVY
OF A SPECIAL TAX WITHIN THE DISTRICT, PRELIMINARILY
ESTABLISHING AN APPROPRIATIONS LIMIT FOR THE DISTRICT
AND SUBMITTING LEVY OF THE SPECIAL TAX AND THE ESTABLISHMENT
OF THE APPROPRIATIONS LIMIT TO THE QUALIFIED ELECTORS
OF THE DISTRICT
Community Facilities District No. 1990-1
(Goldenwest/Ellis Area)
The City Council of the City of Huntington Beach hereby resolves
as follows :
WHEREAS, on May 7, 1990, this City Council adopted a resolution
entitled "A Resolution 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" (the
"Resolution of Intention") , stating its intention to form Community
Facilities District No. 1990-1 (Goldenwest/Ellis Area) (The
"District") , of the City pursuant to the Mello-Roos Community
Facilities Act of 1982, as amended (the "Act") the provisions of
which Resolution of Intention are incorporated herein by this
reference as if fully set forth herein, and on this date, this City
Council held a noticed public hearing as required by the Act and the
Resolution of Intention and at said hearing evidence was presented
to this City Council on said matters before it, including a report
by the Director of Public Works, or his designee (the "Report") as
to the facilities and services to be provided through the District
and the costs thereof, a copy of which is on file with the City
Clerk, and written protests with respect to the formation of the
District the furnishing of specified types of facilities in services
and/or the rate and method of apportionment of the special taxes
have not been filed with the City Clerk by fifty percent (50%) or
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more of the registered voters residing within the territory of the
District or property owners of one-half (1/2) or more of the area of
land within the District and not exempt from the special tax; and
the special tax proposed to be levied in the District has not been
eliminated by protest by fifty percent (50%) or more of the
registered voters residing within the territory of the District or
the owners of one-half (1/2) or more of the area of land within the
District and not exempt from the special tax.
NOW, THEREFORE, IT IS HEREBY ORDERED as follows :
SECTION 1 . The foregoing recitals are true and correct .
SECTION 2 . The proposed special tax to be levied within the
District has not been precluded by majority protest pursuant to
Section 53324 of the Act.
SECTION 3 . All prior proceedings taken by this City Council in
connection with the establishment of the District and the levy of
the special tax have been duly considered and are hereby found and
determined to be valid and in conformity with the Act.
SECTION 4 . The community facilities district designated
"Community Facilities District No. 1990-1 (Goldenwest/Ellis Area" of
the City is hereby established pursuant to the Act .
SECTION 5 . The boundaries of the District, as set forth in the
map of the District heretofore recorded in the Orange County
Recorder ' s Office in Book 52 at page 9 of Maps of Assessment and
Community Facilities Districts, are hereby approved, are
incorporated herein by reference and shall be the boundaries of the
District .
SECTION 6 . The type of public facilities and services proposed
to be financed by the District and pursuant to the Act shall consist
of those items listed as facilities on Exhibit A hereto and by this
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6161
reference incorporated herein (the "Facilities") , and those items
listed as services on Exhibit A (the "Services") , respectively.
SECTION 7. Except to the extent that funds are otherwise
available to the District to pay for the Facilities, the Services
and/or the principal and interest as it becomes due on bonds of the
District issued to finance the Facilities, a special tax sufficient
to pay the cost thereof, secured by a continuing lien against all
non-exempt real property in the District, is intended to be levied
annually within the District, and collected in the same manner as
ordinary ad valorem property taxes . The proposed rate and method of
apportionment of the special tax among the parcels of real property
within the District, in sufficient detail to allow each landowner
within the proposed District to estimate the probable maximum amount
such owner will have to pay, are described in Exhibit B attached
hereto and by this reference incorporated herein.
SECTION 8 . It is hereby found and determined that the
Facilities and Services are necessary to meet increased demands
placed upon local agencies as the result of development occurring in
the District.
SECTION 9 . The Director of Finance of the City of Huntington
Beach, 2000 Main Street, Huntington Beach, California 92648,
telephone number (714) 536-5228 is the officer of the City which
will be responsible for preparing annually a current roll of special
tax levy obligations by assessor ' s parcel number and which will be
responsible for estimating future special tax levies pursuant to
Section 53340 . 1 of the Act.
SECTION 10 . Upon recordation of a notice of special tax lien
pursuant to Section 3114 . 5 of the California Streets and Highways
Code, a continuing lien to secure each levy of the special tax shall
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attach to all nonexempt real property in the District and this lien
shall continue in force and effect until the special tax obligation
is prepaid and permanently satisfied and the lien canceled in
accordance with the law or until collection of the tax by the City
ceases .
SECTION 11 . In accordance with Section 53325 . 7 of the Act, the
annual appropriations limit, as defined by subdivision (h) of
Section 8 of Article XIII B of the California Constitution, of the
District is hereby preliminarily established at $750, 000 . 00 and said
appropriations limit shall be submitted to the voters of the
District as hereafter provided. The proposition establishing said
annual appropriations limit shall become effective if approved by
the qualified electors voting thereon and shall be in accordance
with the applicable provision of Section 53325 . 7 of the Act .
SECTION 12 . Pursuant to the provisions of the Act, the
proposition of the levy of the special tax and the- proposition of
the establishment of the appropriations limit specified above shall
be submitted to the qualified electors of the District at an
election the time, place and conditions of which election shall be
as specified by a separate resolution of this City Council .
PASSED AND ADOPTED by the City Council of the City of Huntington
a adjourned
Beach at regular meeting thereof on the 25th day
of June 1990 . _
Mayor
A EST, APPROVED FORM?:
Ci y;:,vC.terk City torney 6-,-c D
REVIEWED AND APPROVED: I E OVED:
-- Director-if dminis at ve Services
City Administrator
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EXHIBIT A
COMMUNITY FACILITIES DISTRICT NO. 1990-1
(GOLDENWEST/ELLIS AREA)
FACILITIES TO BE FINANCED
Improvements to Ellis Avenue in the vicinity of the District
including road improvements, curb, gutter, sidewalk, storm drain and
signal improvements, striping and related improvements .
Improvements to Goldenwest Avenue in the vicinity of the District,
including road improvements, curb, gutter, sidewalks, storm drain
and signal improvements, striping and related improvements .
Improvements to Quarterhorse Lane in the vicinity of the District,
including road improvements, curb, gutter, sidewalk, storm drain and
signal improvements, striping and related improvements .
Improvements to Saddleback Lane in the vicinity of the District,
including road improvements, curb, gutter, sidewalk, storm drain and
signal improvements, striping and related improvements .
Improvements to Edwards Street in the vicinity of the District,
including road improvements, curb, gutter, sidewalk, storm drain and
signal improvements, striping and related improvements .
Water and sewer system improvements along Ellis Avenue, Quarterhorse
Lane and Saddleback Lane in the vicinity of the District, including
related improvements .
Undergrounding of utilities along one or more of the foregoing
streets in the vicinity of the District, including related
improvements .
Undergrounding of utilities along one or more of the foregoing
streets in the vicinity of the District, including any related work.
Fire station improvements, including construction and related costs .
Acquisition of emergency vehicle traffic interruption devices .
SERVICES TO BE PROVIDED
Police and Fire protection services, Paramedic services, in each
case in addition to those currently provided in the District.
OTHER
Costs of engineering, design, planning and coordination related to
the above-listed facilities .
Bond related expenses, including underwriters discount, reserve
fund, capitalized interest, bond counsel and all other incidental
expenses .
Administrative fees of the City and the Bond trustee or fiscal agent
related to the District and the Bonds .
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APPENDIX A
DEBT SERVICE SCHEDULES
6161
CITY OF HUNTINGTON BEACH
COMMUNITY FACILITIES DISTRICT 90-1
S 0 U R C E S A N D U S E S O F F U N D S
DELIVERY DATE: 7/24/90
SOURCES
PAR AMOUNT OF BONDS................... $2,375,000.00
+PREMIUM /-DISCOUNT................... $0.00
BOND PROCEEDS........................................... 2,375,000.00
ACCRUED INTEREST........................................ 12,518.23
$2,387,518.23
USES OF FUNDS
IMPROVEMENT FUND........................................ 1,826,480.00
UNDERWRITERS DISCOUNT (% or E)..........( 1.750000%)... 41,562.50
COST OF ISSUANCE........................................ 115,000.00
ACCRUED INTEREST............................`............ 12,518.23
CAPITALIZED INTEREST.................................... 199,468.84
DEBT SERVICE RESERVE.................................... 190,000.00
CONTINGENCY............................................. 2,488.66
$2,387,518.23
Prepared by Rod Gunn Associates, Inc., Seal Beach, California
RUNDATE: 06-04-1990 a 18:37:46 FILENAME: HS KEY: 90.1
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CITY OF HUNTINGTON BEACH
COMMUNITY FACILITIES DISTRICT 90-1
DEBT SERVICE SCHEDULE
DATE PRINCIPAL COUPON INTEREST PERIOD TOTAL FISCAL TOTAL
-------- -------------- ---------- -------------- -------------- ..............
4/ 1/91 146,953.13 146,953.13
10/ 1/91 97,968.75 97,968.75 244,921.88
4/ 1/92 97,968.75 97,968.75
10/ 1/92 20,000.00 8.250000 97,968.75 117,968.75 215,937.50
4/ 1/93 97,143.75 97,143,.75
10/ 1/93 25,000.00 8.250000 97,143.75 122,143.75 219,287.50
4/ 1/94 96,112.50 96,112.50
10/ 1/94 25,000.00 8.250000 96,112.50 121,112.50 217,225.00
4/ 1/95 95,081.25 95,081.25
10/ 1/95 30,000.00 8.250000 95,081.25 125,081.25 220,162.50
4/ 1/96 93,843.75 93,843.75
10/ 1/96 30,000.00 8.250000 93,843.75 123,843.75 217,687.50
4/ 1/97 92,606.25 92,606.25
10/ 1/97 35,000.00 8.250000 92,606.25 127,606.25 220,212.50
4/ 1/98 91,162.50 91,162.50
10/ 1/98 35,000.00 8.250000 91,162.50 126,162.50 217,325.00
4/ 1/99 89,718.75 89,718.75
10/ 1/99 40,000.00 8.250000 89,718.75 129,718.75 219,437.50
4/ 1/ 0 88,068.75 88,068.75
10/ 1/ 0 40,000.00 8.250000 88,068.75 128,068.75 216,137.50
4/ 1/ 1 86,418.75 86,418.75
10/ 1/ 1 45,000.00 8.250000 86,418.75 131,418.75 217,837.50
4/ 1/ 2 84,562.50 84,562.50
10/ 1/ 2 50,000.00 8.250000 84,562.50 134,562.50 219,125.00
4/ 1/ 3 82,500.00 82,500.00
Prepared by Rod Gunn Associates, Inc., Seal Beach, California
RUNDATE: 06-04-1990 a 18:38:35 FILENAME: HS KEY: 90.1
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CITY OF HUNTINGTON BEACH
COMMUNITY FACILITIES DISTRICT 90-1
DEBT SERVICE SCHEDULE
DATE PRINCIPAL COUPON INTEREST PERIOD TOTAL FISCAL TOTAL
........ ......... .......... .............. .............. ......--------
10/ 1/ 3 55,000.00 8.250000 82,500.00 137,500.00 220,000.00
4/ 1/ 4 80,231.25 80,231.25
10/ 1/ 4 55,000.00 8.250000 80,231.25 135,231.25 215,462.50
4/ 1/ 5 77,962.50 77,962.50
10/ 1/ 5 60,000.00 8.250000 77,962.50 137,962.50 215,925.00
4/ 1/ 6 75,487.50 75,487.50
10/ 1/ 6 65,000.00 8.250000 75,487.50 140,487.50 215,975.00
4/ 1/ 7 72,806.25 72,806.25
10/ 1/ 7 70,000.00 8.250000 72,806.25 142,806.25 215,612.50
4/ 1/ 8 69,918.75 69,918.75
10/ 1/ 8 80,000.00 8.250000 69,918.75 149,918.75 219,837.50
4/ 1/ 9 66,618.75 66,618.75
10/ 1/ 9 85,000.00 8.250000 66,618.75 151,618.75 218,237.50
4/ 1/10 63,112.50 63,112.50
10/ 1/10 90,000.00 8.250000 63,112.50 153,112.50 216,225.00
4/ 1/11 59,400.00 59,400.00
10/ 1/11 100,000.00 8.250000 59,400.00 159,400.00 218,800.00
4/ 1/12 55,275.00 55,275.00
10/ 1/12 105,000.00 8.250000 55,275.00 160,275.00 215,550.00
4/ 1/13 50,943.75 50,943.75
10/ 1/13 115,000.00 8.250000 50,943.75 165,943.75 216,887.50
4/ 1/14 46,200.00 46,200.00
10/ 1/14 125,000.00 8.250000 46,200.00 171,200.00 217,400.00
4/ 1/15 41,043.75 41,043.75
10/ 1/15 135,000.00 8.250000 41,043.75 176,043.75 217,087.50
Prepared by Rod Gunn Associates, Inc., Seal Beach, California
RUNDATE: 06.04-1990 2 18:38:39 FILENAME: HB KEY: 90-1
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CITY OF HUNTINGTON BEACH
COMMUNITY FACILITIES DISTRICT 90-1
DEBT SERVICE SCHEDULE
DATE PRINCIPAL COUPON INTEREST PERIOD TOTAL FISCAL TOTAL
4/ 1/16 35,475.00 35,475.00
10/ 1/16 145,000.00 8.250000 35,475.00 180,475.00 215,950.00
4/ 1/17 29,493.75 29,493.75
10/ 1/17 160,000.00 8.250000 29,493.75 189,493.75 218,987.50
4/ 1/18 22,893.75 22,893.75
10/ 1/18 170,000.00 8.250000 22,893.75 192,893.75 215,787.50
4/ 1/19 15,881.25 15,881.25
10/ 1/19 185,000.00 8.250000 15,881.25 200,881.25 216,762.50
4/ 1/20 8,250.00 8,250.00
10/ 1/20 200,000.00 8.250000 8,250.00 208,250.00 216,500.00
2,375,000.00 4,177,284.38 6,552,284.38
ACCRUED 12,518.23 12,518.23
2,375,000.00 4,164,766.15 6,539,766.15
Prepared by Rod Gunn Associates, Inc., Seal Beach, California
RUNDATE: 06-04.1990 8 18:38:41 FILENAME: HB KEY: 90.1
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CITY OF HUNTINGTON BEACH law
COMMUNITY FACILITIES DISTRICT 90-1 '
DEBT SERVICE SCHEDULE
Dated 7/ 1/90 with Delivery of 7/24/90
Bond Years 50,633.750
Average Coupon 8.250000
Average life 21.319474
N I C % 8.250000 % Using 100.0000000
T I C % 8.430068 % From Delivery Date
Prepared by Rod Gunn Associates, Inc., Seat Beach, California
RUNDATE: 06-04-1990 8 18:38:43 FILENAME: HB KEY: 90-1
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CITY OF HUNTINGTON BEACH
COMMUNITY FACILITIES DISTRICT 90-1
CAPITALIZED INTEREST FUND
DELIVERY DATE: 7/24/90
PERIOD BEGINNING ACCRUED CONSTR. FUND DEBT SERVICE CAPITALIZED TOTAL FUNDS BOND INTEREST ENDING
ENDING BALANCE INTEREST EARNINGS RESERVE INT. EARNINGS AVAILABLE CAPITALIZED BALANCE
( 8.000000 %) ( 8.000000 X) (100.000000 %)
........ .............. .............. .............. .............. .............. .............. ..............
4/ 1/91 199,468.84 12,518.23 10,428.89 11,494.53 233,910.49 146,953.13 86,957.37
10/ 1/91 86,957.37 7,600.00 3,411.38 97,968.75 97,968.75
12,518.23 18,028.89 14,905.91 244,921.87
Note: Capitalized Interest Earnings Utitized Annual Compoundings Using a 30/360 Year Basis
Prepared by Rod Gunn Associates, Inc., Seat Beach, California
RUNDATE: 06-04-1990 8 18:38:54 FILENAME: HB KEY: 90-1
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EXHIBIT B
CITY OF HUNTINGTON BEACH
COMMUNITY FACILITIES DISTRICT NO. 1990-1
(Goldenwest/Ellis Area)
RATE AND METHOD OF APPORTIONMENT OF
THE SPECIAL TAX
The Special Tax is to be levied by the Finance Director of the City on behalf of the District each
Fiscal Year on all parcels within the District in an amount equal to the Maximum Special Tax, less
any Services Credit, as such terms are defined below. On March 1 of each year all taxable Parcels
within the District shall be categorized by the Finance Director either as Developed Parcels or
Undeveloped Parcels, and shall be subject to a Special Tax in accordance with the Rate and Method of
Apportionment specified below.
Undeveloped Parcels
A Special Tax shall be levied on each Undeveloped Parcel as follows:
(Taxable Sq.Ft.of Parcel X Maximum) _ Services = Special
(Taxable Sq.Ft.of District Special Tax) Credit Tax
Developed Parcels
A Special Tax shall be levied on each Developed Parcel as follows:
1 )
(Maximum _ Total Special Tax Levied X Total Number of) _ Services = Special
(Special Tax on Undeveloped Parcels Developed Parcels) Credit Tax
Definitions
Act means the Mello-Roos Community Facilities Act of 1982,as amended.
The Bonds means the City of Huntington Beach Community Facilities District No. 1990-1
(Goldenwest/Ellis Area) 1990 Special Tax Bonds, and any other bonds of the District payable from the
Special Tax.
The City means the City of Huntington Beach,California.
Developed Parcel (1) is any Parcel that is within the boundaries of the District based on the latest
available equalized rolls of the County of Orange as of March 1 of the applicable year which is not
exempt from the Special Tax pursuant to Section 53311,et seq. of the California Government Code,(2)
is not greater than 50,000 square feet in total square footage and (3) with respect to which a building
permit for a single family dwelling has been issued as of March 1 of the current year.
1 6161
The District is Community Facilities District No. 1990-1 (Goldenwest/Ellis Area) of the City of
Huntington Beach,California.
Fiscal Agent means the fiscal agent for the Bonds appointed under the Fiscal Agent Agreement.
Fiscal Agent Agreement means the agreement by that name approved by the Resolution of
Issuance.
Fiscal Year means the period starting on July land ending the following June 30.
Maximum Special Tax is an amount for any Fiscal Year equal to$264,000.
Resolution of Issuance is any Resolution adopted by the City Council of the City authorizing the
issuance of Bonds.
Services Credit is an amount equal to any proceeds of the Special Tax Levied within the District
which has been allocated by the City to the payment of police and fire protection services and/or
paramedic services authorized under the Act which have not been expended for such purpose by the
last day of the prior Fiscal Year.
Special Tax is any tax authorized by Section 53340 of the California Government Code adopted by
Ordinance of the City and levied within the District.
Taxable Square Footage of Parcels is all of the area within any Parcel within the District which
is not exempt from the Special Tax pursuant to Section 53311, et. seq. of the California Government
Code.
Total Taxable Square Footage of the District means the aggregate Taxable Square Footage for
all Parcels within the District.
Undeveloped Parcel is any Parcel within the boundaries of the District (based on the latest
equalized rolls of the County of Orange as of March 1 of each year) which is not a Developed Parcel,
and is not exempt from the Special Tax under the provisions of the Act.
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CITY OF HUNTINGTON BEACH
COMMUNITY FACILITIES DISTRICT NO. 1990-1
(Goldenwest/Ellis Area)
ATTACHMENT I
Fiscal Year Maximum
End June 30 Special Tax
1991 $264,000
1992 269,280
1993 274,666
1994 280,159
1995 285,762
1996 291,477
1997 297,307
1998 303,253
1999 309,318
2000 315,504
2001 321,815
2002 328,251
2003 334,816
2004 341,512
2005 348,342
2006 355,309
2007 362,415
2008 369,664
2009 377,057
2010 384,598
2011 392,290
2012 400,136
2013 408,139
2014 416,301
2015 424,627
2016 433,120
2017 441,782
2018 450,618
2019 459,630
2020 468,823
2021 and Previous Fiscal Year
Thereafter Increased by 2%
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Res. No. 6161
STATE OF CALIFORNIA
COUNTY OF ORANGE ss:
CITY OF HUNTINGTON BEACH )
I, CONNIE BROCKWAY, the duly elected, qualified City
Clerk of the City of Huntington Beach, and ex-officio Clerk of the
City Council of said City, do hereby certify that the whole number of
members of the City Council of the City of Huntington Beach is seven;
that the foregoing resolution was passed and adopted by the affirmative
vote of at least a majority of all the members of said City Council
at a regular adjourned meeting thereof held on the 25th day
of June 1990 , by the following vote:
AYES: Councilmembers:
MacAllister, Mays, Bannister, Silva, Erskine
NOES: Councilmembers:
Winchell
ABSENT: Councilmembers:
Green
4%voo�
city Clerk and ex-off-Kno er
of the City Council of the City
of Huntington Beach, California