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Home My WebLink AboutRes 2013-32 - CFD 91-1 - Indian Ridge - FY 2013-14 CITY OF PALM DESERT FINANCE DEPARTMENT STAFF REPORT REQUEST: APPROVAL OF RESOLUTION N0.2o13-32 AUTHORIZING THE LEVY OF A SPECIAL TAX IN COMMUNITY FACILITIES DISTRICT NO. 91-1 (INDIAN RIDGE) FOR FISCAL YEAR 2013/2014 SUBMITTED BY: PAUL S. GIBSON, FINANCE DIRECTOR DATE: JUNE 13, 2013 CONTENTS: RESOLUTION NO. 2013-32 EXHIBIT A Recommendation Waive further reading and adopt Resolution No. 2013-��thorizing the levy of a special tax in Community Facilities District No. 91-1 (Indian Ridge) for Fiscal Year 2013/2014. Backqround The Community Facilities District (CFD) known as CFD 91-1 (Indian Ridge) is located in the northern section of Palm Desert, 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 CFD 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. Staff Report Approval of Resolution authorizing the levy of a special tax — CFD 91-1 June 13, 2013 Page 2 of 2 Fiscal Analysis 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 2013-2014 tax year and provide the City with the funds to pay the debt service on a timely basis. Submitted by: Approval: Paul S. Gibson ohn M. Wohlmuth Director of Finance/City Treasurer City Manager CITY COUNCYL�ON APPROVED �� RE IYED OTHER MEETI�IIG DA " �� AYES:�� ' ��/ NOES: AssElv�r: 1 ABSTAIN: VERIFIED BYs Original on File with City � erk's Ot'tice C:\Users\nortegaWppData\LocalWlicrosoft\Windows\Temporary Internet Files\Content.0utlook\VF496YYN\approval of levy in CFD 91-1fy 1314.doc RESOLUTION NO. 2013-32 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 2013/2014 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 (2013/2014) 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 RESOLUTION N0. 2013-32 rate and amount of said tax, reference is made to the attached Exhibit "A". 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 2013/2014 Tax Roll subsequent to the submittal deadline of August 12, 2013, 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 N0. 2013-32 PASSED, APPROVED AND ADOPTED by the City Council of the City of Palm Desert, California this day of , 2013 by the following vote: AYES: NAYS: ABSENT: ABSTAIN: MAYOR OF THE CITY OF PALM DESERT JAN HARNICK ATTEST: RACHELLE D. KLASSEN, CITY CLERK CITY OF PALM DESERT, CALIFORNIA APPROVED AS TO FORM: DAVID J. ERWIN, CITY ATTORNEY BEST, BEST & KRIEGER RESOLUTION N0. 2013-32 Exhibit "A" Community Facilities District No. 91-1 (INDIAN RIDGE) Proposed Special Tax Rates Fiscal Year 2013I2014 Land Use C/ass : The following table summarizes the Maximum Special Tax Rates relating to each land use class. , -• .•- � � • , P , 1A Detached Residential Over 3 600 $3 850 r Dwellin Unit �g Detached Residential 3,100-3,599 $3 300 r Dwellin Unit 1C Detached Resideniial 2,600-3,099 $2,750 r Dwellin Unit 1D Detache�d Resiciential 2,100-2,599 $2,450 rDwreNin Unit 1 E Detac;hed Residerrtial llnder 2,099 $1 650 �Dweilin Unit 2q Attached Residential Over 2,500 $2100 r Dwellin Unit 2g Attached Residential 2,100-2,499 $1 $00 r Dweliin Unit 2� Attached Residential 1,700-2,099 $1,500 r Dwellin Unit 2p Attached Residential 1 300-1 699 $1 200 r Dwellin Unit 2E Attached Residentiai Under 1,29J $900 r Owellin Unit Un v ro Undeveio Pro W/A $13,120 er Acre Golf Caurse Pro N/A $1,500 r Acre