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HomeMy WebLinkAboutCC RES 06-004RESOLUTION NO. 06-4 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM DESERT MODIFYING THE RESOLUTION OF INTENTION TO ELIMINATE CERTAIN FACILITIES FROM FINANCING BY PROPOSED CITY OF PALM DESERT COMMUNITY FACILITIES DISTRICT NO. 2005-1 (UNIVERSITY PARK) RECITALS: WHEREAS, in accordance with a request set forth in a petition signed by the owners of certain land proposed for inclusion in a proposed community facilities district (the "Petitioning Landowners"), the City Council (the "City Council") of the City of Palm Desert, California (the "City"), has previously adopted a resolution entitled "A Resolution of Intention of the City Council of the City of Palm Desert to Establish City of Palm Desert Community Facilities District No. 2005-1 (University Park) and to Authorize the Levy of a Special Tax within City of Palm Desert Community Facilities District No. 2005- 1 (University Park)" (the "Resolution of Intention to Establish District") stating its intention to conduct proceedings to form City of Palm Desert Community Facilities District No. 2005-1 (University Park) (the "District") pursuant to the Mello -Roos Community Facilities Act of 1982, as amended, commencing with Section 53311 of the California Government Code (the "Act") to finance certain public facilities to serve the District (the "Facilities"); and WHEREAS, a copy of the Resolution of Intention to Establish District setting forth a description of the proposed boundaries of the District, the Facilities to be financed by the District, including incidental expenses, and the rate and method of apportionment of the special tax proposed to be levied within the District is on file in the office of the City Clerk of the City; and WHEREAS, the City Council has previously adopted a resolution entitled "A Resolution of Intention of the City Council of the City of Palm Desert to Incur Bonded Indebtedness Within Proposed City of Palm Desert Community Facilities District No. 2005-1 (University Park)" (the "Resolution of Intention to Incur Bonded Indebtedness") stating the City Council's intention, acting as the legislative body of the District, to authorize the issuance and sale of one or more series of bonds for the District in maximum aggregate principal amount of $70,000,000 to finance the cost of Facilities; and WHEREAS, the Resolution of Intention to Establish District and Resolution of Intention to Incur Bonded Indebtedness set December 8, 2005 as the date of a public hearing on the establishment of the District, the extent of the District, the furnishing of Facilities to serve the District, the proposed rate and method of apportionment of the special tax within the District, and the proposed debt issue; and WHEREAS, a notice of the public hearing was published and was mailed to all landowners proposed to be included in the District in accordance with the Act; and RESOLUTION NO. 06-4 WHEREAS, prior to the date of the public hearing, the Petitioning Landowners made the determination to exclude the development impact fees of the Palm Springs Unified School District and the school improvements to be constructed thereby (the "School Facilities") from the list of public facilities to be financed by the District, in the interest of applying a greater portion of the District's financing to the facilities to be owned by the City and the Coachella Valley Water District (the "CVWD"); and WHEREAS, prior to the date of the public hearing, there was filed with the City Council a report containing a description of the facilities necessary to adequately meet the needs of the District and an estimate of the cost of financing such facilities as required by Section 53321.5 of the Act (the "Report"), which Report amends the list of Facilities to delete the School Facilities from the list of public facilities to be financed by the District; and WHEREAS, the aforementioned public hearing was duly continued from December 8, 2005 in the City Council Chamber to 4 p.m. on January 12, 2006 in the City Council Chamber upon a finding by the City Council that, pursuant to Section 53325 of the Act, it is appropriate and necessary to continue such hearing, in order to (a) ensure adequate time to address the complexities of the District relating to certain facilities to be financed by the District and owned by the CVWD, and a joint community facilities agreement (the "JCFA") relating thereto, and (b) ensure adequate opportunity for public comment and participation, including without limitation the comment and participation of the CVWD, with respect to the proposed Facilities and JCFA; and WHEREAS, prior to the reconvening of the public hearing on January 12, 2006, it was determined that certain park improvements and park land site acquisition identified in Sections VIII.E. and VIII.F. of Exhibit "A" of the Resolution of Intention to Establish District (the "Parks E and F Improvements"), also described as "Park E" and "Park F," respectively, will not be owned by the City or any other governmental entity and may not be financed by the District by the issuance of its tax-exempt bonds without exceeding applicable limits under federal tax law regarding the amount of bond proceeds reasonably expected to be expended on privately -owned facilities; and WHEREAS, Section 53325 of the Act permits the City Council to modify the Resolution of Intention to Establish District by eliminating proposed facilities, if the City Council makes such modifications at the aforementioned public hearing. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PALM DESERT: 1. Recitals. The above recitals are all true and correct. 2. Modification of Resolution of Intention to Establish District. The City Council hereby modifies and amends the Resolution of Intention to Establish District, and the list of Facilities therein, to eliminate the School Facilities and the Parks E and F Improvements from the list of authorized Facilities. P6401.1032\863484.2 2 W:1Agenda Itemsl2006-Jan 121Unly Park CFD No. 2005-11Reso Modifying ROI (Palm Desert CFD 2005-1).DOC RESOLUTION NO. 06-4 PASSED AND ADOPTED this 12th day of January, 2006, by the following vote: AYES: BENSON, CRITES, KELLY, SPIEGEL, and CRITES NOES: NONE ABSENT: NONE ABSTAIN: ONE ATTEST: RA HELLE D. KLASS, , CITY CLERK P6401.1032\863484.2 3 W:1Agenda Items12006-Jan 12\liniv Park CFO No. 2005-1\Reso Modifying ROI (Palm Desert CFD 2005-1).DOC