HomeMy WebLinkAboutCity Council - 2002-39 RESOLUTION NO.2002-39
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
HUNTINGTON BEACH DETERMINING THE NECESSITY TO
INCUR BONDED INDEBTEDNESS WITHIN IMPROVEMENT
AREA A, AND WITHIN IMPROVEMENT AREA B, OF THE CITY
OF HUNTINGTON BEACH COMMUNITY FACILITIES
DISTRICT NO. 2002-1 (MCDONNELL CENTRE BUSINESS PARK)
WHEREAS, on April 1, 2002, this City Council adopted a resolution entitled "A
Resolution of the City Council of the City of Huntington Beach Declaring Its Intention to
Establish a Community Facilities District and to Authorize the Levy of Special Taxes Therein"
(the "Resolution of Intention") stating its intention to form the City of Huntington Beach
Community Facilities District No. 2002-1 (McDonnell Centre Business Park) (the "District"),
pursuant to the provisions of Chapter 3.56 (commencing with Section 3.56.010) of the Municipal
Code of the City of Huntington Beach (the "Code") and, as applicable under the Code, the
Mello-Roos Community Facilities Act of 1982, constituting Section 53311 et seq. of the
California Government Code (the "Act," and, together with the Code, the "Law"), to fund
certain public improvements (the "Facilities"), as described therein; and
The Resolution of Intention designated a portion of the District as "Improvement Area
A of the City of Huntington Beach Community Facilities District No. 20024 (McDonnell Centre
Business Park)" ("Area A"), and a portion of the District as "Improvement Area B of the City of
Huntington Beach Community Facilities District No. 2002-1 (McDonnell Centre Business Park)"
("Area B"), as authorized by Section 53350 of the Act (Area A and Area B are sometimes
referred to below as an"improvement area" and, collectively, as "improvement areas"); and
On April 1, 2002, this City Council also adopted a resolution entitled "A Resolution of
the City Council of the City of Huntington Beach Declaring Its Intention to Incur Bonded
Indebtedness of the Proposed City of Huntington Beach Community Facilities District No.
2002-1 (McDonnell Centre Business Park)" (the "Resolution of Intention to Incur
Indebtedness") stating its intention to incur bonded indebtedness within the boundaries of
Area A and its intention to incur bonded indebtedness within the boundaries of Area B for the
purpose of financing the costs of the Facilities;and
On this date, this City Council held a noticed public hearing as required by the Law
relative to the determination to proceed with the formation of the improvement areas of the
District, the provision of the Facilities for each of the improvement areas as specified in the
Resolution of Intention and the rate and method of apportionment of the special tax to be levied
within each of the improvement areas of the District to pay the principal and interest on the
proposed indebtedness and the administrative costs of the City relative to the District;and
At the hearing all persons desiring to be heard on all matters pertaining to the formation
of each of the improvement areas of the District, the provision of the Facilities and the levy of
the special tax on property within each of the improvement areas of the District were heard and
a full and fair hearing was held; and
Res. No. 2002-39
Subsequent to the hearing, this City Council adopted a resolution entitled "A Resolution
of the City Council of the City of Huntington Beach of Formation of Improvement Area A and
Improvement Area B of the City of Huntington Beach Community Facilities District No. 2002-1
(McDonnell Centre Business Park)" (the "Resolution of Formation"), which incorporated by
reference the description of the Facilities to be provided by each improvement area of the
District as set forth in the exhibits to the Resolution of Intention, and incorporated by reference
the rate and method of apportionment of the special tax for each improvement area of the
District as set forth in exhibits to the Resolution of Formation; and
On this date, this City Council held a noticed public hearing as required by the Law
relative to the matters material to the questions set forth in the Resolution of Intention to Incur
Indebtedness; and
No written protests with respect to the matters material to the questions set forth in the
Resolution of Intention to Incur Indebtedness have been filed with the City Clerk.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Huntington
Beach as follows:
Section 1. The foregoing recitals are true and correct.
Section 2. This City Council deems it necessary to incur bonded indebtedness in the
maximum aggregate rinci al amount of $13,000,000 within the boundaries of Area A of the
principal
District, and bonded indebtedness in the maximum aggregate principal amount of $13,000,000
within the boundaries of Area B of the District; provided that in no event shall the total bonded
indebtedness of the District exceed$13,000,000.
Section 3. The indebtedness to be incurred in each improvement area of the District is
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 costs of the City in administering the respective improvement area of the
District.
Section 4. The whole of Area A of the District shall pay for the bonded indebtedness
with respect to Area A through the levy of the special tax. The special tax for Area A is to be
apportioned in accordance with the formula set forth in Exhibit A to the Resolution of
Formation. The whole of Area B of the District shall pay for the bonded indebtedness with
respect to Area B through the levy of the special tax. The special tax for Area B 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 for Area A of
the District is $13,000,000 and the maximum term of the bonds to be issued shall in no event
exceed forty (40) years. The maximum amount of bonded indebtedness to be incurred for Area
B of the District is $13,000,000 and the maximum term of the bonds to be issued shall in no
event exceed forty (40) years. Notwithstanding the foregoing, in no event shall the total
bonded indebtedness of the District,including both improvement areas,exceed $13,000,000.
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Res. No. 2002-39
Section 6. The bonds for each improvement area shall bear interest at a 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 tithes of payment of such interest to be determined by
this City Council or its designee at the time or times of sale of the bonds.
Section 7. The proposition of incurring the bonded indebtedness herein authorized for
each improvement area of the District shall be submitted to the qualified electors of the
respective improvement area of the District and shall be consolidated with elections on the
proposition of levying special taxes within such improvement area of the District and the
establishment of an appropriations limit for such improvement area of the District pursuant to
Section 53353.5(a) of the Act. The time, place and conditions of said election shall be as
specified by separate resolution of this City Council.
Section 8. This Resolution shall take effect upon its adoption.
PASSED AND ADOPTED by the City Council of the City of Huntington Beach at a
regular meeting thereof held on the 3rd day of June 2002.
Mayor
ATTEST: APPROVED AS TO FORM:
City Clerk + _ai' ,d Z City Jkttorney
REVIEWED AND APPROVED: INITIATED AND APPROVED:
Cit<Administrator Director of Economic Development
08001.07:16157
4/19/02
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Res. No. 2002-39
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 meeting thereof held on the 3rd
day of June, 2002 by the following vote:
AYES: Green, Dettloff, Boardman, Cook, Winchell, Bauer
NOES: None
ABSENT: Houchen (out of room)
ABSTAIN: None
City Clerk and ex-officio derk of the
City Council of the City of
Huntington Beach, Califomia