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HomeMy WebLinkAboutCC RES 04-004RESOLUTION NO. 04- 4 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM DESERT, CALIFORNIA, ADOPTING REASSESSMENT REPORT, CONFIRMING AND ORDERING THE REASSESSMENT PURSUANT TO SUMMARY PROCEEDINGS; AND DIRECTING RELATED ACTIONS FOR ASSESSMENT DISTRICT NO. 98-1 LIMITED OBLIGATION IMPROVEMENT BONDS (REASSESSMENT AND REFUNDING OF 2004) RESOLVED, by the City Council (the "Council") of the City of Palm Desert (the "City"), County of Riverside, (the "County") California: WHEREAS, on January 22 , 2004, this Council adopted A Resolution of Intention to Levy Reassessments and to Issue Refunding Bonds (the "Resolution of Intention"), in and for the City's Assessment District No. 98-1 (The Canyons at Bighorn) (Reassessment and Refunding of 2004) (the "Reassessment District") therein directed the making and filing of a reassessment report (the "Report") in writing in accordance with and pursuant to the Refunding Act of 1984 for 1915 Improvement Act Bonds, Division 11.5 of the Streets and Highways Code of Califomia (the "Act") which Report includes reassessments for the Reassessment District; and WHEREAS, the Report was duly made and filed with the clerk of the Council, and duly considered by this Council and found to be sufficient in every particular, and the Report shall stand for all subsequent proceedings under and pursuant to the aforesaid Resolution of Intention. NOW, THEREFORE BE IT ORDERED as follows: 1. Conditions Satisfied. Under Section 9525 of the Act, and based upon the Report this Council finds that all of the following conditions are satisfied: (a) Each of the estimated annual installments of principal and interest on the reassessment as set forth in the Report is less than the corresponding annual installment of principal and interest on the original assessment as also set forth in the Report, by the same percentage for all subdivisions of land with the Reassessment District; (b) The number of years to maturity of all proposed refunding bonds proposed to be issued under the Resolution of Intention is not more than the number of years to the last maturity of the bonds proposed to be refunded (the "Prior Bonds"); and (c) Except as expressly permitted by the Act, the principal amount of the reassessment on each subdivision of land within the Reassessment District is Tess than the unpaid principal amount of the existing reassessment for such R+'C°Mution ii+i. i)-'4 4 parcel by the same percentage for each subdivision of land in the Reassessment District. 2. Public Interest. The public interest, convenience and necessity require that the reassessment be made. 3. Boundaries Approved. The Reassessment District benefited by the reassessment and to be reassessed to pay the costs and expenses thereof, and the exterior boundaries thereof, are as shown by the boundary map and reassessment diagram thereof on file in the office of the City Clerk, which map and diagram are made a part hereof by this reference thereto. The provisions of the above -referenced Resolution of Intention are hereby incorporated herein by this reference and hereby made a part hereof. 4. Report Approved. Pursuant to the findings expressed above under Section 9525 of the Act, the conditions, and ail of them are deemed satisfied and that the following elements of the Report are hereby finally approved and confirmed without further proceedings, including the conduct of a public hearing under the Act, to wit: (a) a schedule setting forth the unpaid principal and interest on the Prior Bonds proposed to be refunded and the total amounts thereof; (b) an estimate of the total principal amount of the reassessment and of the refunding bonds and the maximum interest thereon, together with an estimate of cost of the reassessment and of issuing the refunding bonds, including expenses incidental thereto; (c) the auditor's record kept pursuant to Section 8682 of the Streets and Highways Code of California showing the schedule of principal installments and interest on all unpaid original assessments and the total amounts thereof; (d) the estimated amount of each reassessment, identified by reassessment number corresponding to the reassessment number of the reassessment diagram, together with a proposed auditor's record for the reassessment prepared in the manner described in Section 8682; and (e) a reassessment diagram showing the Reassessment District and the boundaries and dimensions of the subdivisions of land and the zones therein. Final adoption and approval of the Report as a whole, the estimate of the costs and expenses, the reassessment diagram and the reassessment, as contained in the Report, as hereinabove determined and ordered, is intended to and shall refer and apply to the Report, or any portion thereof, as amended, modified, revised or corrected by, or pursuant to and in accordance with, any resolution or order, if any, heretofore duly adopted or made by this Council, or by or pursuant to the direction of the Mayor, Mayor Pro Tempore (in the Mayor's absence), the City Manager, City Finance Director, City Treasurer, City Attorney, or City Clerk, who approves such additions or changes as -2- ResciuLioit Nu. 04-4 being in the best interests of the City upon consultation with Jones Hall, A Professional Law Corporation, the City's bond counsel ("Bond Counsel"), MuniSoft, as financial advisor, and Munifinancial, as Reassessment Engineer. 5. Findings and Determinations. Based on the oral and documentary evidence, including the Report, offered and received by the Council, this Council expressly finds and determines that: (a) each of said several subdivisions of land within the Reassessment District will be specially benefited by said reassessment at least in the amount, if not more than the amount, of the reassessment apportioned against the subdivisions of land, respectively; (b) there is substantial evidence to support, and the weight of the evidence preponderates in favor of, the above finding and determination as to special benefits; and (c) the reassessment is approved and confirmed under Section 9525 of the Act and as such is not an assessment within the meaning of, and may be ordered without compliance with the procedural requirements of Article XIIID of the California Constitution. 6. Reassessment Levy. The reassessment, including all costs and expenses thereof, is hereby levied. The existing reassessments, as shown in the Report, are hereby superseded and supplanted by the reassessment herein levied. Under the Act, reference is hereby made to the Resolution of Intention for further particulars. 7. Actions Directed. The City Clerk and other appropriate officer or officers of the City are hereby authorized and directed to carry out the following, including the payment of any and all fees required by law in connection therewith: (a) record the reassessment and the reassessment diagram as approved and confirmed by this Council, executed by the Clerk, in the office of the official of the City who is its Superintendent of Streets; such recordation shall be and constitute the official reassessment roll herein; (b) file the reassessment diagram and a notice of reassessment in substantially the form specified by Section 3114 of the California Streets and Highways Code and executed by the Clerk in the office of the County Recorder of the County. From the date of recording of the notice of reassessment, all persons shall be deemed to have notice of the contents of such reassessment, and each of such reassessments shall thereupon be a lien upon the property against which it is made, and unless sooner discharged such liens shall so continue for the period of ten (10) years from the date of such recordation, or in the event bonds are issued to represent the reassessments, then such liens shall continue until the expiration of four (4) years after the due date of the last -3- Re:soll(t installment upon such bonds or of the last installment of principal of such bonds; and (c) provide a copy of this resolution to the Auditor of the County at the time of the delivery of the debt service records for the refunding bonds secured by the reassessments. 8. Effective. This resolution shall take effect upon its adoption. APPROVED and ADOPTED this following vote, to wit: AYES: BENSON, CRITES, FERGUSON, KErLLY, SPIEGEL NOES: NONE ABSENT: NONE ABSTAIN: NONE ATTEST: achelle D. Klassen, City Clerk Robert A. Spiegel, Mayor 22na day of January , 2004, by the -4-