HomeMy WebLinkAboutRes 2017-41 - CFD 91-1 Indian Ridge (84383) RESOLUTION NO. 2017-41
CITY OF PALM DESERT
FINANCE DEPARTMENT
STAFF REPORT
REQUEST: APPROVAL OF RESOLUTION NO. 2017- 41 AUTHORIZING
THE LEVY OF A SPECIAL TAX IN COMMUNITY FACILITIES
DISTRICT NO. 91-1 (INDIAN RIDGE) FOR FISCAL YEAR
2017/2018
SUBMITTED BY: ANTHONY HERNANDEZ, SENIOR FINANCIAL ANALYST
DATE: JUNE 8, 2017
CONTENTS: RESOLUTION NO. 41
EXHIBIT A
Recommendation
Waive further reading and adopt Resolution No. 2017- 41 authorizing
the levy of a special tax in Community Facilities District No. 91-1 (Indian
Ridge) for Fiscal Year 2017/2018.
Background
The Community Facilities District (CFD) known as CFD 91-1 (Indian Ridge) is located in
the northern section of the City known at the time of formation as "Indian Ridge Country
Club". CFD 91-1 issued $11.87 million in 1992 and $12.385 million in 1995. In 1997, the
bonds were refunded into one bond issuance in the amount of $22.989 million. The
bonds were issued to fund the improvements for streets, medians, water and sewer
improvements. Legal counsel has reviewed the bond documents and indicated that the
City Council must approve the levy of the special tax for 91-1 on an annual basis. The
specific rate of the special tax for the next fiscal year is attached to the Resolution as
Exhibit A.
Approval of the resolution will allow the County Auditor to collect taxes as they become
due. A report will be provided at the close of the tax collection period indicating the
amounts collected. Therefore, staff requests that the resolution be approved.
Approval of Resolution No. 2017- 41 - Special Tax Levy in CFD No. 91-1
June 8, 2017
Page 2 of 2
Fiscal Analysis
The CFD 91-1 bonds are repaid through taxes collected on the respective parcels
located within the boundaries. Approval of the resolution will allow the parcels to be
levied for the 2017-2018 tax year and provide the City with the funds to pay the debt
service on a timely basis.
Subm. t b : Department d:
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t ony na dez Janet M. ore
Senior Financial Analyst Director o Fi ance/City Treasurer
Approval:
• uri Aylaian
City Manager
G:\Finance\Niamh OrtegaAssessment District Administration\CFD 91-1\SR-approval of levy in CFD 91-1fy 1718.doc
RESOLUTION NO. 2017- 41
RESOLUTION OF THE CITY OF PALM DESERT, CALIFORNIA
AUTHORIZING THE LEVY OF A SPECIAL TAX IN COMMUNITY
FACILITIES DISTRICT NO. 91-1 (INDIAN RIDGE) FOR FISCAL YEAR
2017/2018
WHEREAS, the City Council of the City of Palm Desert (hereinafter referred to as
the "Agency"), has initiated proceedings, held a public hearing, conducted an election and
received a favorable vote from the qualified electors relating to the levy of a special tax in a
Community Facilities District, as authorized pursuant to the terms and provisions of the
"Community Facilities Act of 1982", being Chapter 2.5, Part 1, Division 2, Title 5 of the
Government Code of the State of California. Community Facilities District No. 91-1 shall
hereinafter be referred to as "District" and,
WHEREAS, this City Council, by Ordinance as authorized by Section 53340 of the
Government Code of the State of California, has authorized the levy of a special tax to pay
for costs and expenses related to said District, and this City Council is desirous to establish
the specific rate of the special tax to be collected for the next fiscal year.
NOW, THEREFORE, IT IS HEREBY RESOLVED AS FOLLOWS:
SECTION 1. That the above recitals are true and correct.
SECTION 2. That the special tax rates for each tax category to be used to
generate special tax revenues, which will be collected to pay for the
costs and expenses for the next fiscal year (2017/2018) for the
referenced District, is hereby determined and established as set
forth in the attached, referenced and incorporated Exhibit "A".
SECTION 3. That the rate as set forth above does not exceed the amount as
previously authorized by Ordinance of this Council, and is not in
excess of that as previously approved by the qualified electors of
the District.
SECTION 4. The special tax shall be collected in the same manner as ordinary
ad valorem property taxes are collected, and shall be subject to the
same penalties, procedures and sale in case of any delinquency for
ad valorem taxes, and the Tax Collector is hereby authorized to
deduct reasonable administrative costs incurred in collecting any
said special tax.
SECTION 5. Monies above collected shall be paid into the District funds.
SECTION 6. The Auditor of the County is hereby directed to enter in the next
County assessment roll on which taxes will become due, opposite
each lot or parcel of land effected in a space marked "public
improvements, special tax" or by any other suitable designation, the
installment of the special tax, and for the exact rate and amount of
said tax, reference is made to the attached Exhibit "A".
Resolution No. 2017- 41
Page 2 of 4
SECTION 7. The County Auditor shall then, at the close of the tax collection
period, promptly render to this Agency a detailed report showing the
amount and/or amounts of such special tax installments, interest,
penalties and percentages so collected and from what property
collected, and also provide a statement of any percentages retained
for the expense of making any such collection.
SECTION 8. Special Taxes are to be levied on non-exempt parcels within the
District. Should it be discovered that any taxable parcels are not
submitted to the County Auditor for inclusion into the 2017/2018 Tax
Roll subsequent to the submittal deadline of August 15, 2017, the
City Council directs the City of Palm Desert staff or their agents to
bill such parcels directly via U.S. mail using the rates as approved in
Exhibit "A".
SECTION 9. The officers of the City are hereby authorized and directed, jointly
and severally, to do any and all things and to execute and deliver
any and all documents which they may deem necessary or
advisable in order to effectuate the purposes of this Resolution, the
levy of special taxes by the District authorized by Ordinance No.
674, and the documents referenced herein, and any such actions
previously taken by such officers, including without limitation the
levy by the District of special taxes authorized by Ordinance No.
674 in prior fiscal years, are hereby ratified and confirmed.
Resolution No. 2017- 41
Page 3 of 4
PASSED, APPROVED AND ADOPTED by the City Council of the City of Palm
Desert, California this 8th day of June, 2017 by the following vote to wit:
AYES:
NAYS:
ABSENT:
ABSTAIN:
JAN C. HARNIK, MAYOR
ATTEST:
RACHELLE D. KLASSEN, CITY CLERK
CITY OF PALM DESERT, CALIFORNIA
APPROVED AS TO FORM:
ROBERT W. HARGREAVES, CITY ATTORNEY
BEST, BEST & KRIEGER
Resolution No. 2017- 41
Page 4 of 4
Exhibit "A"
Community Facilities District No. 91-1
(INDIAN RIDGE)
Proposed Special Tax Rates
Fiscal Year 2017/2018
Land Use Class : The following table summarizes the Maximum Special Tax Rates relating to each land
use class.
LAND USE CLASS LAND USE CLASS GROSS FLOOR MAXIMUM SPECIAL
DESCRIPTION AREA TAX RATE
Developed Property _
1 A Detached Residential Over 3,600 $3,850 per Dwelling Unit
1 B Detached Residential 3,100-3,599 $3,300 per Dwelling Unit
1 C Detached Residential 2,600-3,099 $2,750 per Dwelling Unit
1 D Detached Residential 2,100-2,599 $2,450 per Dwelling Unit
1 E _ Detached Residential Under 2,099 $1,650 per Dwelling Unit
2A Attached Residential Over 2,500 $2,100 per Dwelling Unit
2B Attached Residential 2,100-2,499 $1,800 per Dwelling Unit
2C Attached Residential 1,700-2,099 $1,500 per Dwelling Unit
2D Attached Residential 1,300-1,699 $1,200 per Dwelling Unit
2E Attached Residential Under 1,299 $900 per Dwelling Unit
Undeveloped Property
Undeveloped Property N/A $13,120per Acre
Golf Course Property N/A $1,500 per Acre