HomeMy WebLinkAboutCity Council - 2004-69 RESOLUTION NO. 2004-69
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF HUNTINGTON
BEACH DECLARING NECESSITY FOR PROPOSED CITY OF
HUNTINGTON BEACH COMMUNITY FACILITIES
DISTRICT NO. 2004-1 (THE STRAND)
TO INCUR A BONDED INDEBTEDNESS
WHEREAS, pursuant to Chapter 3.56 (commencing with Section 3.56.010) of the
Municipal Code of the City of Huntington Beach and 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- 2004-1 (The Strand) 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
WHEREAS,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
WHEREAS, 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
WHEREAS, the repayment of the bonds are to be secured by special taxes levied on all
property in the proposed community facilities district.
NOW, THEREFORE, IT IS HEREBY RESOLVED by the City Council of the City of
Huntington Beach,the following:
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. 2004-1 (The Strand), County of Orange,
State of California, in an amount not to exceed $15,000,000.00 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.
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
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Resolution No. 2004-69
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. Pa ent 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 September 20, 2004, 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 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 16th day of August , 2004.
Mayor
ATTEST: APPROVED AS TO FORM:
lire)
city Clerk - ty Attorney
REVIEWED AND APPROVED: INITIATED AND APPROVED
/,' Aa 6 O�!
>ty Adihinistrator Di Tor o nomic Develop nt
x'_
Director of ublic Works
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Resolution No. 2004-69
STATE OF CALIFORNIA }
COUNTY OF ORANGE ) ss.
CITY OF HUNTINGTON )
BEACH }
I, ,roan L. Flynn , City Clerk of the City of Huntington Beach, hereby certify
this to be a true and correct copy of Resolution Number 2004-69
Witness my hand and the seal of the City of Huntington Beach this 16th day of
August , 2004
City C1
G:Wu1vihi11\Misc\Redevelopment Agency%Strand-ResoNecessity.DOC 2 3
Res. No. 2004-69
STATE OF CALIFORNIA
COUNTY OF ORANGE ) ss:
CITY OF HUNTINGTON BEACH )
I, JOAN L. FLYNN the duly appointed, 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 16th day of
August, 2004 by the following vote:
AYES: Sullivan, Coerper, Green, Boardman, Cook, Houchen
NOES: None
ABSENT: Hardy
ABSTAIN: None
CO Clerk and ex-offici lerk of the
City Council of the City of
Huntington Beach, California