HomeMy WebLinkAboutCC RES 92-023RESOLUTION N0. 92-23
A RESOLUT I ON DETERM I N i NG THE NECESS I TY TO
INCUR BONOED iNDEBTEDNESS MITHIN THE CITY OF
PALM DESERT COMMUNITY FACILITIES OISTRICT IiO.
91-1 (INDIAN RIDGE PUBLIC IMPROYEMENTS) AN�
SUBMITTIN� THE PROPOSITION TO THE QUALIFIEO
ELECTORS OF TNE OISTRICT
RECITALS
l. On Oecember 12, 1991, this City Councll adopted a resolution
entltled "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 Intentton") stating its intention to form the
City of Palm Desert Community Faciltttes Distrlct No. 91-1
(lndian Ridge Public Improvements) (the "District"),
pursuant to the Mello-Roos Community Fac111ties Act of 1982,
as amended (the "Act"); and
2. On December 12, 1991, this City Council also adopted a
resolution entitled "A Resolution of Intentlon to Incur
Bonded Indebtedness of the Proposed City of Paim Desert
Community Facilitles Oistrict No. 91-1 (Indian Ridge Publ(c
Improvements), Pursuant to the Mello-Roos Community
Faci11t1es Act of 1982" ithe "Resolution of Intentfon to
Incur lndebtedness") stating its intention to t�cu� bo�ded
indebtedness wlthln the boundaries of the District for the
purpose of financing the costs of certein facilities
spectfied in the Resolution of Intention; and
3. The Resolution of Intention to Jncur Indebtedness called a
pubiic hearing for January 23. 1992, on the formation of the
District and the levy of the spectal tax therein, which
publlc hearing was continued unt11 this date; and
4. On this date, thls City Council continued the noticed pubiic
hearing as required by the Act relative to the determination
to proceed Ntth the formation of the District, the provislon
of fec 1 1 1 t 1 es by the D i str i ct and the �ate and method of
apportionment of the special tax to be levted within the
Distrlct to pay the p�tnctpal and interest on the proposed
indebtedness and the administrative costs of the Agency
relative to the �istrict; end
5. At said hearing all persons desiring to be heard on ali
matters pertaining to the formatlon of the Distrtct, the
provision of said facilities (the "Faclltttes") and the levy
of the speciel tax on property wlthln the Dtstrlct were
heard and a full and falr hearing was held; and
RESOlUT10N N0. 92-23
0
6. Subsequent to sald hearing, the C1ty Council adopted a
resolutfon entitled "A Resolution of Formation of City of
Palm Desert Community Facilitles Oistrict No. 91-1 (Indian
Ridge Public Improveme�ts), Authorizing The Levy Of A
Special Tax Within The District, Preliminarity Estabiishing
An Appropriations Limit Fo� 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"); and
7. On this date, this City Councll held a noticed public
hearing as required by the Act relative to the matters
materlai to the questlons set forth 1n the Resolution of
Intentlon to lncur Indebtedness; and
S. No written protests with respect to the matters materiat ta
t he quest f ons set forth i n the Resol ut i on of i ntent i on to
lncur Indebtedness have been filed with the City Clerk.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PALM DESERT
DOES HEREBY RESOLVE AS FOLL041S:
Section 1. The foregoing recitais are true and correct.
Section 2. It is necessary to tncur bonded indebtedness in
the maximum aggregate principal amount of �35.000,000 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
costs of the City of Palm Desert in administering the District.
Section 4. The whole of the District shall pay fo� the
bonded indebtedness through the levy of the special tax. The tax
is to be apportioned 1n accordance with the formula set forth in
Exhibit "8" to the Resolution of Formation.
Section 5. The maxlmum amount of bonded indebtedness to be
i ncurred i s =35, 000, 000 and the mex i mum ter�m of the bonds to be
issued shell in no event exceed forty (40) yearS.
Sectio� 6. The bonds shail bear interest at rate or rates
not to exceed the maximum interest rate permltted by applicable
law at the ttme of sale of the bonds, payable semiannually or in
such other manner as this City Council or 1ts deslgnee shali
determine, the actual rete or rates and times of payment of such
interest to be determined by this City Councll or 1ts designee at
��
RESOLUTION N0. 92-23
the time o� times of sale of said bonds.
Section 7. The propositfon of lncurring the bonded
indebtedness herein authorized shali be submitted to the
qua 1 1 f i ed e i ectors of the D t str t ct and the estab 1 i shment of an
appropriations limft for the Distrfct pursuant to Sectlon 55353.5
of the Act. The time, place and conditions of said election
shall be as specified by separate resolutton of this City
Cou�cil.
1 HEREBY CERTIFY that the foregoing resolutton was duly and
regularly adopted by the C1ty Council of the Ctty of Palm Desert,
Riverside County, Californla, at a meet(ng thereof, held on the
12th day of March, 1992, by the following vote, to wit:
AYES: BENSONt CRITES. SNYDER, WILSON, KEILY
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE
--1
A!TTES� : �,�—
� r //
, . � / � • (/ o
, ,: j� � ��
� �,
� Sheila R. Gilligan,j '
ty Clerk
,
Richard S. Kelly� Mayor
3
�nSOLUTIO� ��. 92-23
COMMUNITY FACILITIES DISTRICT REPORT
COMMUNITY FACILITIES DISTRICT NO. 91-1
(INDIAN RIDGE PUBLIC I4IPROVEMENTS)
EXHIBIT "A"
DESCRIPTION OF PUBLIC FACILITIES
RESOLUTIO� �0. 92-23
EXHIBIT �
DESCRIPTIO� OF PUBLIC F:�CILITIES
COMMUNITY FaCILITIES DISTRICT YO. 91-1
(INDIAN RIDGE PUBLIC IviPROVEME�ITS)
Improvements financed by Communiry Facilides District 91-1 consist generally of street facilities,
domesric water facilides, and fees to be used for ocher infrastructure facilides.
Street Improvements
Street Improvements consist of grading, paving, curbs, gutters, sidewalks, screetlights, and
appurtenances and app�u-tenant work in connection therewith for the following sueets:
• Country Club Drive,
• Avenue 42,
• El Dorado Drive, and
• Oasis Club Drive.
Construcdon of inedians and appurtenances and appurtenant work in connecdon therewith in the
following streets:
, • Avenue 42, and
• El Dora�do Drive.
Construction of parkways and appurtenances and appurtenant work in connecdon therewith for che
following streeu:
• South side of Country Club Drive,
• North side of Avenue 42,
91-335freport/Exhibit A A-1
R�SOLUTIJ'�' '1�. 92-23
• East side of E1 Dorado I?rive, and
,
• West side of Oasis Club Drive.
Pamcipadon in che financing of Cook Street improvements.
�Vater Improvements
Water improvements consist of the construction and installadon of main lines, domescic wate:
wells, appurtenances and appurtenant work in connecuon therewith.
Fees
Financing of fees to be collected by the City of Palm Deserc, Coachella Valley Water Discncc, and
the County of Riverside for the following:
• Water improvements,
• Sewer capacity,
• School facilides,
• TUMF fees,
• Park facilities,
• Fire facilides,
• S.M.I.P. fees,
• Fringc-Tocd Lizard,
• Drainage facilides,
91-335hreporc/Exhibic A A-2
R�:SOLTJTI0�1 �JO. 92-23
�
• Tr�c signais, and
• Art in public places.
0
91-335/report/Exhibit A A-3
��SOL�?TIO� ��. 9?-23
C0:1�IMUNITY FACILITIES DISTRICT REPORT
COMMUNITY FACILITIES DISTRICT NO. 91-1
(INDIAN RIDGE PUBLIC IMPROVE:�IENTS)
EXHIBIT "B"
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RFSOLUTIO� �0. 92-23
C(J�1;�1U:V'ITY FACILITIES DISTRICT REPORT
CO:VIMUNITY FACILITIES DISTRICT NO. 91-1
(INDIAN RIDGE PLJBLIC I.1�IPROVEMENTS)
EXHIBIT "C"
ENGINEER'S COST ESTI�IATE
RFSOLUTIOV N0. 92-23
EXHIBIT C
E�lGINEER'S ESTI:�I�TE OF COSTS AND EXPE�SES
C0�11�IUNITY FACILITIES DISTRICT ti0. 91-1
(INDIAN RIDGE PUBLIC IVIPROVE�IEYTS)
Descri�don
I. Street Improvements
A. Street Construcdon
1. Country Club Drive
2. Avenue 42
3 . El Dorado 1?rive
4. Oasis Club Drive
Subtotal Street Conscrucrion
B. Ivledian Conswction
l. Avenue 42
Z . EI Dorado Drive
Subtotal Median Cons�ucdon
C. Parkway Construcrion
1. Southside of Country Club Drive
2. Northside of Avenue 42
3. Eastside of El Dorado
4. Westside of Oa,sis Ciub Drive
Subtotal Parkway Construction
D. Cook Street Improvements
II. Water Improvements
A. Domestic Welt Consuvction
B . Water Sysum Installadon
Subtotal Water Tmprovements
III. Fees
A. Water Fetl (Residential)
B . Sewer Capacity (Residential)
C. School Fee2
ot
� 379,450
$ 241,666
� 383,407
� 171.970
� 1,176,493
$ 209,721
$ 378.364
$ 588,085
� 494,868
� 302,030
$ 321,050
� 156,816
$ 1,274,764
$ 1,000,000
$ 1,800,000
$ 93.240
$ 1,893,240
$ 1,151,760
$ 2,494,000
$ 5,272,679
1 Water fee is net of casts associated with water sysum installation> and domesdc well consumption.
ZInclude fces associaced with cesideatial arxi non-residendal uses.
r
91-335freporVExhibit C C-1
R�SOL�TIO� N0. 92-23
De scri pdon
III. Fees Condnued
D. TL'� Fce (Residendal)
E . Park Fec
F . Fire Fee
G. 5.�1.I.P. Fee
H . Fringe-Toed Lizard Fee
I • Drainage Fee
J. Signalizadon Fee
K• Art In Public Places Fee
L. Water/Sewer/IUI� (Non-Residendal)
Subtotal Fees
IV. Fomnadon Expenses
A. Cost of Issuance
B. Capicalized Interest
C. Reserve Fund
Subtotal Forn�ation Expenses
I. S�reet Improvements
II. Water Improvements
III. Fees
IV. Formadon Expenses
Total Amount to Bond
RECAPITULATTON
Cost
� 733,700
$ 1,145,500
$ 145,000
� 20,300
� 38�,000
� 3,321,600
� 134,618
� 50,000
� 337.932
� 15,191,089
� 996,800
$ 3,511,529
$ 2.848,000
$ 7,356,329
$ 4,039,342
$ 1,893,240
$ 15,191,089
$ 7.356.329
$ 28,480,000
91-335freport/Exhibit C C-2
RESOLUTION �0. 92-23
0
COM�I�IUNITY FACILITIES DISTRICT REPORT
COMMUNTTY FACILITIES DISTRICT NO. 91-1
(P�IDIAN RIDGE PLJBLIC Iti1PROVE4fENTS)
EXHIBIT "D"
RATE AND METHOD OF APPORTIONMENT OF SPECIAL TAX
R'.�:�rJLUTI0�1 "_�0. 92-23
EXHIBIT D
RATE AND �IETHOD OF APPORTIOti1�IEy'T OF SPECIAL T�XES
FOR COMv[UNITY FACILITIES DISTRICT YO. 91-1
(ItiDIAN RIDGE PL,BLIC Il�IPROVE:I�IENTS)
OF THE CITY OF PAL�I DESERT
A Special Tax, che "Special Tax(es)" (defined below), shall be applicable to each Parcel {detine�
below) located in Community Facilities District:V'o. 91-1 (Ind.ian R.idge Public Improvemencs) of
the City of Palm Desert (hereinafter "CFD No. 91-1"). The amount of Special Tax co be coLected
from each Parcel in any Fiscal Year (defined below) shall be determined by the Ciry Council of the
City of Palm Desert (hereinafter the "Council" and the "City"), acting in its capacity as che
legislative body of CFD No. 91-1, in accordance with the rate and method of apportionmenc
described below. All of the property in CFD ti`o. 91-1 unless exempted by Iaw or Section E
below, shall be taxed for the purposes, to che extent, and in the manner provided herein.
A . DEFINITIONS
"Assessor's Parcel Map" means an official map of the County Assessor of �he Councv
of Riverside designaring Parcels by Assessor's Parcel Number.
"Alternate Special Tax" for Developed Property means that amount of tax computed
by multiplying the Net Taxable Acreage of a Parcel by the Altemate Special Tax Rate.
"A{ternate Special Tax Rate" for Developed Property is equal to $13,215 per :vec
Taxable Acre.
"Assigned Speeial Tax Rate" means the applicable Special Tax per Parcel based on
the applicable rate per dwelling unit or Net Taxable Acre as specified in Table 1 below.
91-335/Ex. D D'1
Revised Mat+ch 2, 1992
RESOLUTION r10. 92-23
"�►ttached Residentia! Property" means all Parcels within CFD �o. 91-1 upon which
residenrial units that share a common wall may be buil�
"Certificate of Occupancy" means the certificate issued by the City of Palm Desert
pursuant to che requirements of Section 306 of the Uniform Building Code which cenifies
that a structure is in cornpliance with various ordinances of the City regulating building
construction or use.
"Detached Residential Property" means all Parcels within CFD No. 91-1 upon which
detached single family residential units may be built
"Developed Property" means all Parcels, except exempt property, for which a
Certificate of Occupancy has been issued prior to March 1 of the Fiscal Year preceding che
Fiscal Year for which the Special Tax is being levied.
"Exempt Property" means any Parcel or other property within CFD No. 91-1 described
in Section E which is exempt from the levy of the Special Tax.
"Fiscai Year" means thc period starting on July 1 of any year and enaing the following
June 30.
"Golt Course Property" means all Parcels within CFD No. 91-1 which are designated
as Golf Course Lots and the Club Housa Area Lot on Vesting Tentative Map 26123.
91-335/Ez. D D-2
Revised Match 2, 1992
Rr SOLUT I'J'.�I :�IO . 9 2- 2 3
"Gross F1oor �rea" rr;eans che square footage of the internal living space of za�h •.:;.i;
located wichin che Parcel, exclusive of garages or other structures as shown on the buiidina
peTi111L
"�taximum Special Tax" for a Parcel of Developed Property, means the greacer of the
Assigned SQecial Tax Rate or the Alternaave Special Tax Rate applicable co such Parcel.
;�iaximum Special Tax for a Parcel of Golf Course Property, or Undeveloped Propertv,
means the Assigned Special Tax Rate applicable co such Parcel as set forth below.
"Net Taxable Acre" means an acre of Develope� Propercy, Golf Course Propercy, or
Undeveloped Property, exclusive of properry exempted by law or the provisions of Seccion
E beiow from the Special Tax; the acreage calcularion will be based on che dimensions as
shown on or calculated from the recorded final subdivision map, parcel map, or
funcrionally equivalent map or insuvment. In the absence of a recorded final subd.ivision
map, parcel map, or functionally equivalent map or instrument for a Pazcel the acreage sha:l
be the acreage shown on or calculated from the Assessor's Parcel Map.
"Parcel" means a lot or parc�l shown on an Assessor's Parcel Map with an assigned
Assessor's Parcel number as of the date of the levy of the Special Taxes for each Fiscal
Year.
"Specia! Taa Requi�ement" means that amount requircd in any Fiscal Yeaz co pay: (1)
debt service on all bonds or other indebtedness of CFD No. 91-1, (2) costs incurred by che
City and CFD No. 91-1 in the annual levy and collection of the Special Taxes, (3) o�her
reasonable costs reiated to the adminisuadon of CFD No. 91-1, {4) any amounts required
to replenish any reserve funds established in associadon with the Bonds sold for the benetic
91-335iEx. D D'3
Revised Match Z. 1992
R�SOLUTION ��. 92-23
of CFD tio. 91-1, and (S) the costs of remarketing, credit enhancement and liquidiry
faciliry fees (including such fees for instruments that serve as the basis of a reserve fund
related to any indebtedness in lieu of cash).
"Special Tax(es)" means the Special Tax to be levied in each Fiscal Year on 311 Parcels
to fund the Special Tax Requiremen�
"Taxable Property" means all Parcels in CFD No. 91-1 which are noc exempt from che
levy of Special Taxes pursuant to Iaw or Secrion E below.
"Undeveloped Property" means all Parcels in CFD No. 91-1 which aze not classified
as Developed Property, Golf Course Property, or Exempt Property.
"Vesting Tentative Map 26123" means Vesting Tenta[ive Map 26123 for the Indian
Ridge Country Club as approved by the Ciry Council of the City of Palm Desen by
Resolution 90-145 on December 13, 1990 as may be be subsequently modified,
supplemented, or amended.
B. ASSIGiYMENT TO LAND USE CLASS
For each Fiscal Year (commeneing with the 1992-1993 Fiscal Year), all Parcels wichin
CFD No. 91-1 shall be classified eithcr as Developed Property, Golf Course Properry,
Undeveloped Property, or Exempt Property and shall be subject to the levy of a Special
Tax in a�ccordance with the rates and method of apportionment as set forth in Secdons C
and D below.
For purposes of determining the applicable Maximum Special Tax pursuant to Section C
0
bclow, all Parcels of Developed Property shall be assigned to one of the land use classes
91-335/Ex. D �
Revised March 2, 1992
RFSOLUTIO� �0. 92-23
specified in Table 1 below. Detached Residential Property shall be assigned Classes :.-�
thnough lE based on Gross F1oor Area. Attached Residential Property shall be assiQned co
Classes 2A through ?E based on Gross F1oor Area.
C. �1AXI�itiv1 SPECIAL TAX RATES
1. Developed Prope�ty
The Maximum Special Tax for each Parcel of Developed Property assigned to Classes 1 or
2, shall be the greater of (i) the amount determined by the application of [he Assiened
Special Tax Rate specified in Table l, or (ii) if required pursuant to Secrion D below che
amount derived by mulaplying the Net Taxable Acreage of the Parcel by the Alternace
Special Tax Rate.
TABLE 1
ACCiC:NF.I) CPF( TAi, TaX RATES FOR DEVELOPED PROPERTY
Ciass Land Use Gross Floor Area Assi ned S ecial Tax Rate*
lA Detache� Residendal Over 3,600 �3,850 er Dwelline L'nit
1B Detached Residential 3,100 - 3,599 �3,30Q er DwellinQ L"nit
1C Detached Residenrial 2,600 - 3,099 52,750 er Dwellin� L'nic
LD Detached Residential 2,100 - 2,599 $2,450 er DwellinQ L'nic
lE Detached Residendal Under 2,099 $1,650 r Dwellin Unit
2A Attached Residendal Over 2,500 �2,100 er Dwellin Unic
2B Attached Residential 2,100 - 2,499 $1,800 r Dwellin L; nit
2C Attached Residential 1,700 - 2,099 $1,500 r Dwellin li nic
2D Attachod Residential 1,300 - 1,699 $1,200 r Dwellin Unic
2E Attached Residendal Under 1,299 $900 Dwellin Unit
•� d SQaial Tu Rua have beea calcvlated a»umin� � coul of 489 d.vellin{ uniu o[ Dasc6ed
Readential propaty, �ad b14 dweUin� uaiu of Acuched Residmaal Property Altem+u�e Special Tu
Raw h�ve bem c:ak:ulated usumin{ 208•98 Na Tuable Acres of Res►denwl Ptvpercy� 342.0 Nu Tuabke
Acra ot Golf Course ProQercY, and 83.89 acrsi d F�canpt Prop�rtY•
91-335iEx. D D'S
Revised M2tch 2,1992
RESOLUTIO� N0. 92-23
2. Undeveloped Property
The Maximum Special Tax for each Parcel of Undeveloped Propeny shall be � 13,120 per
ti'et Taxable Acre.
3. Golf Course Property
The Maximum Special Tax for each Parcel of Golf Course Property shall be $1,500 per
Net Taxable Acre.
D. :1�IETHOD OF APPORTIONMENT OF THE SPECIAL TAXES
On or prior to August 1 of each Fiscal Year, commencing with Fiscal Year 1992-93, or
such other date as may be established by law, the Council shall determine the amount of
Special Taxes to be levied and collected in that Fiscal Year in order to satisfy the Special
Tax Requirement for said Fiscal Year. The Council shall levy the Special Tax as follows
until it has levied the amount neccssary to satisfy the special tax requirement for said Fiscal "
Year:
Step 1: The Special Taxes shall be levied on all Parcels of Developed Properry in Classes 1
and 2 at 100 percent of the Assigned Special Tax Rate. However, if this amount exceeds
the Special Tax Requirement, the levy of Special Taxes on all Parccls of Developed
Property in Classes 1 and 2 shall be proportionally decreased until the revenues produced
thereby will be equal w the Special Tax Requircmen�
�tep 2: If the revenues which may be produced by levying the Special Tax pursuant to
Step 1 are less than the Special Tax Requirement, the Special Taxes shall be levied
proportionally on all Parcels of Undevcloped Property up to 100 percent of the Maacimum
Special Tax Rate to produce aggregate revenues equal to the Special Tax Requirement.
91-335/Ex. D D-6
Revised Mat+ch Z. 1992
RESOLUTION �0. 92-23
�e, � 3: If the revenues which may be produced by levying the Special Tax pursuant to
Steps 1 and 2 are less than the Special Tax Requirement, the Special Taxes shall be levied
proporrionally on all Parcels of Golf Course Property Property up ta 100 percent of che
Maximum Special Tax Rate to produce aggregate revenues equal to the Special Tax
Requiremenc
SteR 4; If the revenues which may be produced by levying the Special Tax pursuant to
Steps 1, 2, and 3 are less than the Special Tax Requirement, the Special Taxes shall be
levied proportionally on all Parcels of Developed Propeny up to 100% of the Alcerna�e
Special Tax Rate to produce revenues equal to the Special Tax Requirement.
E . EXEMPTIONS
The Council shall not levy a Special Tax on:
• Properties owned by state, ferieral, or ocher local governments, except as ocherwise
provided in Section 53317.3 or 53317.5 of the Government Code;
• Approximately 3.1 acres of grogerty within CFD No. 91-1 which is designaced on
Vcsting Tontative Map 26123 as being well sites;
• proptrty within CFD No. 91-1 which is identified on Vesdng Tentadve Map 26123 as
being private roads or common areas;
• Those Parcels at enary ways and along perimeter azeas used for landscaping which are
dedicated to and maintained by che City; and
91-3351Ez. D D"7
Revised Mat�ch 2, 1992
R�SOLUTIO� NQ. 92-?3
• Any Parcel for which the Special Tax has been prepaid under Section G below.
Notwithstanding the above, Parcels or portions of Parcels conveyed or irrevocably offered
for dedicarion to a public agency after formation of CFD �10. 91-1, and not otherwise
exempt pursuant to this Secrion E, shall be subject to the levy of the Special Taxes pursuant
to Secdon 53317.3 or Section 53317.5 of the Government Code and classified as
Undeveloped Property.
F . MANNER OF COLLECTION
Except for the prepayment of Special Taxes as provided for herein, the Special Taxes shall
be collected in the same manner and at the same time as ad valorem property �axes,
provided; however, that the City Council may authorize the collecrion of delinquent Special
Taxes by judicial foreclosure proceedings pursuant to Secdon 53356.1 of the Government
Code.
0
G. PREPAYMENT AND SATISFACTION OF SPECIAL TAX OBLIG�TION
Any property owner in CFD No. 91-1 who desires to prepay the Special Tax or� a
particular parcel shall notify the Finance Director of the City in wridng of such intencion,
and upon payment by such property owner of a non refundable deposit in an amount
determined by the Finance Director of the City (to be applied against the "Prepayment
Amount"), the Finance Dinctor of the City shall cause to be detercnined the amount of
prepayment, which determinadon shall be made no more chan seventy-five (75) days and
no loss than forty-five (45) days prior to the expected date of prepayment (the "Prepayment
Date"). The Prepayment Amount shall be computed as follows:
91-335/Ex. D D-8
Revise� Manch 2,1992
�
R�S�JLUTI0�1 �d0. 92-23
(a) Computc the prescnt value of the Parcel's remaining payments of the '�iaximum
Special Tax at the weighted average yieldl on Bonds issued for CFD No. 91-1.
(b) Add the following anwunt to (a) above:
• Call premium as required in the fiscal agents agreement or supplemenc thereof.
(c) Sub�act the following amount from (b) above:
• The applicable pormon of the Parcel's pro rata share of the bond reserve fund of
the bonds issued for CFD No. 91-1.
(d) Add the following amounts to (c) above to determine the Parcels Prepayment
Arr�oun�
• Unpaid Special Taxes which may have been enrolled on the Assessor's tax roll;
• Interest and penaldes, if applicable, which may be associated with unpaid Special
Taxes; and
• An administradve fee to cover the costs incurred by CFD No. 91-1 associaced
with calculating the amount of prepayment, redeeming bonds, and preparing
amended tax bills.
Notwithstanding the foregoing, no prcpayment shall be made on any Parcel of propeny in
CFD No. 91-1 until such time as no more Bonds will be issued by the City for CFD �'o.
91-1, as dettrmined by the Ciry Council.
t Average yield rr�eans that amoimt which whea compating the present worth of aU payments and interest produces
an amount equal to the fact value of the bonds.
91-335/Ex. D D'9
Revised Ma�h 2.1992
R�SOLUTION N0. 92-23
�
COMMUNITY FACILITIES DISTRICT REPORT
COMMUNTTY FACILITIES DISTRICT NO. 91-1
(INDIAN RIDGE PUBLIC IMPROVEMENTS)
CERTIFICATES
R �SOLLIT IO�I :d0 . 9 2- 2 3
�! :MI� :�•►• :. •
The undersigncd is the authorized represencative of the duly appointed and acdng TAX COtiSL�LTA`�T
for the procetdings relating to the formadon of Communiry Faciliries District No. 91-1 (Indian Ridge
Public Improvcments).
That on the 19th day of February, 1992, I did review the signatures as contained in the PETTTI0�1
(INCLUDL'�1G WAIVER) REGARDIIr'G PROCEDURES UNDER TI� ?V�LLO-ROOS CO�L�1L,�'ITY
FACII.ITIES ACI' OF 1982 and hereby cerdfy and state as follows:
1. That said Peridon consdtutes a wavier of all applicable times for and noaces of the conduct of che
election to orda the levy of the special tax, to establish an appropriations limit for the Disuicc, and
to authoriu the issuance of special tax bonds.
2. 'Ihat I caused said Petidon to be examined, and my examination revealed that said Peddon had been
signetl by all qualified electors of the District or their duly authorized representatives, and tha� said
persons were the authorized persons to sign on behalf of the property owners within che
boundaries of the District
3. That said Peririon did contain the signatures representing 100% of all of the qualified eleccon
within thc District
EXECiJ'I'ED this 2nd day of Mazch, 1992, at Riverside, California.
ALBERT A. WEBB ASSOCIATES
By: 1��1.�..�.9-- ��'`.6`��� 1v'�
Paul Thompson, Special Tax Consultanc
CITY OF PALM DESERT
STATE OF CALIF012NIA
* * *
FLECTION OFFICLA� CONC[IRRENCE
The undersigned is the duly appointed elections official responsible for conducting a special mailed balloc
elecdon in the District as descnbed hereinabove.
The undersigned is aware of and consents to a special election being held on a date which is less chan one
hundred twenty-five (125) days fallowing the close of thc proust hoaring.
Pursuant to the provisions of Government Code Section 53326(a), the undersigned hereby agrees wich
and concurs w having the special election conducted at any time following the adoption of the Resoludon
establishing the C'.omawniry Facilitics District
As Elccdon Off�eial, che ande�signed hereby declazes that the dat� of the elecdon shall be , 1992.
EXECUTED this day of , 1992, at Palm Desert, California.
ELECTION OFFICIAI.
CITY OF PALM DESERT
STATE OF CALIFOR1�tIA
91-335/RepordCerdficate
'�� c��.�JLUllU_V ��VU. yL—L.S
��"� - �EGISTR ��F �'OTEF �
: � .� ��
\�`� :..�;C.:���>" ,; ��� - COL'`TY OF RIti�ERSIDE .�
s;i,�'r C 0 L'.L' T Y . � _`.�,�
�,''t.c:'�^�.. �. _� �.�i�_ ;
��� RIVER SIDE ..- �:'� 1�60 Palmyrita .�ve., Riverside. C.a 92507-1703
r--� (71�) 27�-8700
` • FAY :';5-8733 •
January 23, 1992
MS. SHEILA GILLIGr�N, CZTY CLERK
C�TY OF PALM DESERT
73510 FRED WARING DRZVE
PALM DESERT CA 92260
Dear Ms. Gilligan:
��.��� ::. :�;�i�.:,�.
REGI�TR.�R �
RICHARD A. BOTT�L
Assistant Repistrar — O�en::�r.s
DELFivp E. FRA�CO
Assistant RePistrar — .administraci�
This letter is to certify that I have examined the boundaries
of C�'D No. 91-1 (Indian Ridge) to the City oP Palm Desert,
California, and have determined that tr,ere are � voters residing
within that area.
Z� we can be oP any Eurther assistance to you in the future,
please let us know.
Respect�ully,
FR.ANK K . JOHNSON
Registrar of Voters
By
Ron Ogle
Map Draftsman
R�SOLUTIO� N0. 92-23
EXHIBIT "B"
COMMUNITY FACILITIES DISTRICT REPORT
COMMUNITY FACILITIES DISTRICT NO. 91-1
(INDIAN RIDGE)
CITY OF PALM DESERT
March 2, 1992
Prepared by:
0
Albert A. Webb Associates
Consulting Engineers
4505 Allstate Drive, Suite 106
Riverside, California
92501
RrSOLUTIO� N0. 92-23
..r-
C0�11�IL�IITY F�CILITIES DISTRICT REPORT
CO:�t�1UtiITY F�CILITIES DISTRICT �10. 91-1
(INDIAY RIDGE PUBLIC IMPROVEVIEYTS)
T�BLE OF CONTE;YTS
PAGE
COMMUNITY FACII.,ITIES DISTRICT "REPORT" ....................................... 1
A. DESCRIPTION OF FACILITIES .................................................. 2
B. BOU�IDARIES OF COtiIl�iU�IITY FACILITIES DISTRICT NO. 91-1..... 3
C. COST ESTIMATE .................................................................... 3
D. RATE AND METHOD OF APPORTION.'vIENT OF SPECIAL TAX......... 3
E. GENERAL TERMS AND CONDITIONS ........................................ 4
l. SUBSTITUTION FACILITIES ................................................. 4
2. BONDS ............................................................................. 4
E�Q-iIBIT "A"
DESCRIPTION OF PROPOSED PUBLIC FACILITIES .............................. A-1
EX�iIBIT '�8,�
BOUNDARY MAP .......................................................................... B-1
EXHIBI'I' "C"
ENGINEER'S COST ESTIMATE ........................................................ G 1 -�
EX��BIT "D"
R.A'I'E AND METHOD OF APPORTIONMENT OF SPECIAL TAX ............... D-1
91-335/Report i- t
��SOLUTION `d0. �2-23
AGENCY: CTTY QF PALvt DESERT
PROJECT: COh�NiUNITY FACILITIES DISTRICT NO. 91-1
(INDIAN RIDGE PLBLIC IMPROVE�?VTS)
COMMUNITY FACILITIES DISTRICT "REPORT"
":�IELLO-ROOS C01�1�1�tU�1ITY FACILTTIES ACT OF 1982"
WHEREAS, the CITY COUNCIL of the CITY OF PAL� DESERT, RIVERSIDE
COLJNTY, CALIFORI�IIA (hcreinafter referred to as the "legislarive body of the Local Agency"),
did, pursuant to the provisions of the "IvIello-Roos Community Facilitics Act of 1982", being
Chapter 2.5, Part 1, Division 2, Tide 5 of the Government Code of the State of Califomia, and
specifically Section 53321.5 thereof, expressly order the filing of a written "Report" with the Iocal
Agency for a proposed Community Facilicies District No. 91-1 (Indian Ridge Public
Improvements) hereinafter referre� to as "T'f-iE DISTRIC'f"; and,
WHEREAS, the Resolution ordering said "Report" did direct that said "Repon" generally
contain the following:
A. A description of the public capital facilities and/or services, if applicable, proposed
for the projcc�
B. A general description of the area to be serviced by said facilides; said areas being che
boundaries of the Distric�
C. A cost estimate, setting forth the costs and expenses for providing the public facilides
to serve and benefit the properties and residents within the boundaries of che Discrict;
D, 'The raoe and method of apportionment of the special tax in sufficient detail to allow
each landowner or resident within the proposed District to estimate the maximum
amount of paymen�
E. Genaal terms and condidons reladng to the pmceedings.
Far particulars, reference is made to the Resolution of Intention, said Rcsolution being No.
91-136.
91-335/reporc/'i t
RESOLUTION �0. 92-23
�
�'OW, THEREFORE, the undersigned, authorized representative of ALBERT :�. "�BB
ASSOCIATES, the appointed responsible officer or agent directed to prepare the Report, pursuant
to che provisions of the "Mello-Roos Community Facilities Act of 1982", being Chapter ?.5, Part
1, Division 2, Title 5 of the Government Code of the State of Califomia, do hereby submic the
following data:
A . DESCRIPTION OF FACILITIES
A Community Facilities District may provide for the purchase, construcrion, expansion or
rehabilitation of any real or other tangible property, or portion thereof, with an esrimated
useful tife of five (5) years or longer, which is necessary to meet increased demands placed
upon the Local Agency as a result of development occurring within the District
1. A general descripdon of che proposed facilides is as follows:
The financing of ccrtain publie infrastructure facilides including street irnprovecnents to
Country Club Drive, Avenue 42, E1 Dorado Drive, and Oasis Club Drive. _
Participation in financing a portion of the construction of the Cook Streec
improvements. Financing of fees to be used for water faciliaes, sewer capacicy,
school facilities, park facilities, fire facilities, Fringe-Toed Lizard habitat, drainage
facilities, signals, and art in public places.
2. For further particulars as to the facilides, reference is made to the following:
Exhibit A, the Description of Public Facilities.
Based upon the above, it is my opinion that said facilities are those that are necessary co
meet increased demands placed upon the Local Agency as a result of development
occurring within the baundarics of th� District.
ALBERT A. WEBB ASSOCIATES
By: � ���.�—� �'�
Paul Thompson
91-335/reportfi Z
F.�'SOL�JTIO?d �70. 9?-23
B. BOUtiDARIES OF C0;1�1:1�1U�1ITY FACILITIES DISTRICT YO. 91-1
1. "Ii�e boundaries of the District are those properties and parcels where improvemen�s are
authorized to be provided and in which special taxes may be levied in order to pay for
the costs and expenses of said facilities. A general description of the area of che
boundaries af the Ilistrict is as follows:
Community Facilicies District 91-1 encompasses approximately one (1) secrion of land
within Section 11, Township 5 South, Range 6 East, San Bernardino Base and
Meridian.
The boundary map for Community Faciliries District No. 91-1 is located in E�chibic B.
C . COST ESTIMATE
1. The fair and reasonable cost esdmate for the works of improvement for said District is
based upon current dollars, is subject to escalation and is generally set fonh as
follows:
SAID PROJECT FACILITIES, INCLUDING INCIDENTAL EXPENSES, IS
ESTTMATED NOT TO EXCEED $28,40U,000.
2. For further pardculars, reference is made to the following:
The Enginee�s Estimate of Cost and Expenses contained in Exhibit C
' D. RATE AND METHOD OF APPORTIONMENT UF SPECIAL TAX
1. The Resolution of Intendon gcnerally sets forth the rate and method of apportionmenc
of the spxial tax to allow each landowner or resident within the proposed District co
estimate the maximum amount that would be required for payment
2. For particulars as to the rate and method of apponionment, see the following:
Exhibit D
91-335/repartli 3
R�S�LUTIO� �0. 92-23
3. The special tax shall be collected in the same manner as ad valorecn properry caxes. T`�e
special tax and/or taxes may be partially or totally prepaid and the property discharged
of the special tax obligation. The terms and condirions of such discharge are concained
in Exhibit D.
E. GEtiERAL TER:�iS AND COtiDTTI0IYS
l. SUBSTITU'I'ION FACILITIES
The description of the public capital facilities, as set forth herein, is generai in its nacure.
The final nature and locadon of improvements and facilities will be determined upon the
preparadon of final plans and specificadons. The final plans may show subsrituces in
lieu, or modificadon to the proposed work in order to accomplish the works of
improvement, and any such subsritudon shall not be a change or modificadon in the
proceedings as long as the faciliries provide a service substandally simitar to chac as set
farth in this Report.
2. BONDS
In order to finance the public capital facilities as set forth in this Report, it is necessary
thac bonds be issued pursuant to the tenns, condidons and authorizarion as set forth in
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, commencing with SecdoR 53311
thereof, and specifically Article S therein.
It is my opinion that th� speciat tax rate and method of apportionment is cleazly set fonh in
this Report, is in confornury with applicable agreecn�nts and memorandums of understanding, and
permits any purchaser of property subject to the special tax a fair mcans of determinarion of his
obligadon.
ALBERT A. WEBB ASSOCIATES
By�C�. �.�.� U��---'�
Paul Thompson
91-335freportfi 4