HomeMy WebLinkAboutCity Council - 6162 RESOLUTION NO. 616
A RESOLUTION DETERMINING THE NECESSITY TO INCUR BONDED
INDEBTEDNESS WITHIN COMMUNITY FACILITIES DISTRICT
NO. 1990-1 (GOLDENWEST/ELLIS AREA) AND SUBMITTING
PROPOSITION 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, the 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 Act of 1982" (the "Resolution of
Intention stating its intention to form Community Facilities
) g Y
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") and a resolution entitled "A Resolution of
Intention to Incur Bonded Indebtedness of the Proposed Community
Facilities District No. 1990-1 (Goldenwest/Ellis Area) Pursuant to
the Mello-Roos Community Facilities Act of 1982" (the "Resolution of
Intention to Incur Indebtedness") stating its intention to incur
bonded indebtedness within the boundaries of the District for the
purpose of financing the costs of certain facilities specified in
the Resolution of Intention, and on this date, this City Council
held a noticed public hearing as required by the Act and at said
hearing all persons desiring to be heard on all matters pertaining
to the formation of the District, the provision of said facilities
(the "Facilities") and services and the levy of the special tax on
property within the District were heard and a full and fair hearing
was held, and subsequent to said hearing this City Council adopted a
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resolution entitled "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" (the "Resolution of
Formation" an
d d on this this i n date, t s City Council also held a noticed
public hearing as required by the Act relative to the matters
material to the questions set forth in the Resolution of Intention
to Incur Indebtedness and no written respect protests with to the
p
matters material to the questions set forth in the Resolution of
Intention to Incur Indebtedness have been filed with the City Clerk.
NOW, THEREFORE, IT IS HEREBY ORDERED as follows :
SECTION 1. The foregoing recitals are true and correct.
SECTION 2 . It is necessary to incur bonded indebtedness in the
maximum aggregate principal amount of $2, 500,000 .00 within the
boundaries of the District.
SECTION 3 . The indebtedness is incurred for the purpose of
financing the costs of the Facilities, as provided in the Resolution
of Formation including, but not limited to, the costs of issuing and
selling bonds to finance the Facilities and the initial costs of the
City in administering the District.
SECTION 4 . The whole of the District shall pay for the bonded
indebtedness through the levy of the special tax. The tax is to be
apportioned in accordance with the formula set forth in Exhibit "B"
to the Resolution of Formation.
SECTION 5 . The maximum amount of bonded indebtedness to be
incurred is $2, 500, 000 . 00 and the maximum term of the bonds to be
issued shall in no event exceed forty (40) years.
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6162
SECTION 6 . The bonds shall bear interest at rate or rates not
to exceed the maximum interest rate permitted by applicable law at
the time of sale of the bonds, payable semiannually or in such other
manner as this City Council or its designee shall determine, the
actual rate or rates and times of payment of such interest to be
determined by this City Council or its designee at the time or times
of sale of said bonds .
SECTION 7. The proposition of incurring the bonded indebtedness
herein authorized shall be submitted to the qualified electors of
the District and shall be consolidated with elections on the
proposition of levying special taxes within the District and the
establishment of an appropriations limit for the District pursuant
to Section 53353 . 5 of the Act. The time, place and conditions of
said election shall be as specified by separate resolution of this
City Council .
PASSED AND ADOPTED by the City Council of the City of Huntington
adjourned
Beach at a regular meeting thereof held on the 25 day
of June 1990.
Mayor
AT EST. APPROVEZXA�. TO FORM:
t_ y.`f�
City Clerk City Attorney G -s—ckD
JrVI
WED AND APPROV INIT EI) A VED:
5
City Administrator Dir ctor of Ad inistrat' a rvices
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6162
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Res. No. 6162
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 19 90 , by the following vote:
AYES: Councilmembers:
MacAllister, days, Bannister, Silva, Erskine
NOES: Councilmembers:
Winchell
ABSENT: Councilmembers:
Green
City er. and ex-o icio Clerk
of the Cit, Council of the City
of Huntington Beach, California