HomeMy WebLinkAboutCity Council - 2003-4 RESOLUTION NO. 2003-4
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF HUNTINGTON BEACH
DECLARING NECESSITY FOR PROPOSED CITY OF HUNTINGTON BEACH
COMMUNITY FACILITIES DISTRICT NO. 2003-1 (HUNTINGTON CENTER) TO
INCUR A BONDED INDEBTEDNESS
WHEREAS, pursuant to Section 53321 of the California Government Code, the
City Council (the "City Council") of the City of Huntington Beach (the "City") has adopted
a resolution of intention to establish proposed City of Huntington Beach Community
Facilities District No. 2003-1 (Huntington Center) of the County of Orange, State of
California, for the purpose of providing and financing public facilities which are
necessary to meet increased demands placed upon the City as a result of development
which will occur within said proposed community facilities district; and
The City Council desires to issue bonds of the proposed community facilities
district, the proceeds of which will be used for purposes of construction, acquisition,
furnishing and equipping of public facilities; and
The City Council has determined that it is necessary for said proposed
community facilities district to incur a bonded indebtedness to construct, acquire, furnish
and equip the public facilities; and
The repayment of the bonds are to be secured by special taxes levied on all
property in the proposed community facilities district.
NOW, THEREFORE, the City Council of the City of Huntington Beach, does
hereby resolve as follows:
Section 1. Bonded Indebtedness. The City Council of the City of Huntington
Beach declares that it is necessary that a bonded indebtedness be incurred by and for
the proposed City of Huntington Beach Community Facilities District No. 2003-1
(Huntington Center), County of Orange, State of California, in an amount not to exceed
$30,000,000 for the purpose of financing the design, acquisition, construction, equipping
and furnishing of the public facilities described in the resolution of intention with respect
to the establishment of said community facilities district heretofore adopted by the City
Council.
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Section 2, Costs Included. The amount of the proposed indebtedness shall
include all costs and estimated costs incidental to, or connected with, the
accomplishment of the purposes for which the proposed bonded indebtedness is to be
incurred, including, but not limited to, the estimated costs of construction, acquisition,
equipping and furnishing of the public facilities which are proposed to be provided within
and for the proposed community facilities district, acquisition of land and rights of way,
satisfaction of contractual obligations relating to expenses or the advancement of funds
for expenses existing at the time the bonds are issued, architectural, engineering,
inspection, legal, appraisal, fiscal and financial consultant fees, bond and other reserve
funds, discount fees, interest on any bonds of the proposed community facilities district
due and payable prior to the expiration of one year from the date of completion of the
construction, acquisition, equipping and furnishing of the public facilities, not to exceed
two years, election costs, and all costs of issuance of the bonds, including, but not
limited to fees for bond counsel, costs of obtaining credit ratings, bond insurance
premiums, fees for letters of credit, and other credit enhancement costs, and printing
costs.
Section 3. Payment of Bonded Indebtedness. All non-exempt parcels of
property within the proposed community facilities district shall be subject to the levy of
special taxes to pay the principal of and interest on the bonds thereof which may be
issued and sold to finance the design and construction of public facilities described in
the Resolution of Intention. The tax is to be apportioned in accordance with the formula
set forth in Exhibit "B° to the Resolution of Intention.
Section 4. Hearing. A public hearing on the proposed bonded indebtedness
for said proposed community facilities district shall be held at 7:00 p.m. on February 3,
2003, in the City Council Chamber at 2000 Main Street, Huntington Beach, California.
Said hearing shall be conducted concurrently with the hearing on the establishment of
said proposed community facilities district.
Section 5. Notice. The City Clerk shall publish a notice of the time and place
of said hearing pursuant to Section 53346 of the California Government Code, and shall
also give notice of the time and place of said hearing by first class mail to each
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registered voter and to each landowner or owner of leasehold interest in land within the
proposed community facilities district.
PASSED AND ADOPTED by the City Council of the City of Huntington Beach at
a regular meeting thereof held on the 6th day of January, 2003.
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Mayor
ATTEST: APPROVED AS TO FORM:
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City Clerk Cit` Attorn t'j
REVIEWED AND APPROVED: INITIATED AND APPROVED
�� �'Le�r �)Ld e ..pj
City Ad nistrator Director of Economic Development
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Res. No. 2003-4
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 an regular meeting thereof held on the
6th day of.January 2003 by the following vote:
AYES: Sullivan, Coerper, Green, Boardman, Cook, Houchen, Hardy
NOES: None
ABSENT: None
ABSTAIN: None
City Clerk and ex-officio CA of the
City Council of the City of
Huntington Beach, California