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HomeMy WebLinkAboutRES CC 1997 1347 1997 0716RESOLUTION NO. 97- 1347 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MOORPARK OF FORMATION OF CITY OF MOORPARK COMMUNITY FACILITIES DISTRICT NO. 97 -1 (CARLSBERG BUSINESS PARK PUBLIC IMPROVEMENTS) , AUTHORIZING THE LEVY OF A SPECIAL TAX WITHIN THE DISTRICT AND PRELIMINARILY ESTABLISHING AN APPROPRIATIONS LIMIT FOR THE DISTRICT WHEREAS, on February 19, 1997, this City Council adopted Resolution No. 97 -1280 entitled "A Resolution of the City Council of the City of Moorpark of Intention to Establish a Community Facilities District and to Authorize the Levy of Special Taxes Pursuant to the Mello -Roos Community Facilities Act of 1982" (the "Resolution of Intention "), stating its intention to form the City of Moorpark Community Facilities District No. 97 -1 (Carlsberg Business Park Public Improvements) (the "District ") , pursuant to Chapter 2.5 of Part 1 of Division 2 of Title 5, commencing with Section 53311, of the California Government Code (the "Act "); and WHEREAS, the Resolution of Intention, incorporating a map of the proposed boundaries of the District and stating the facilities and services to be provided, the estimated maximum cost of providing such facilities and services, and the rate and method of apportionment of the special tax to be levied within the District to pay the principal and interest on bonds proposed to be issued with respect to the District, is on file with the City Clerk and the provisions thereof are incorporated herein by this reference as if fully set forth herein; and WHEREAS, the Resolution of Intention called for a public hearing on the District to be held on April 2, 1997, and on that date the public hearing was opened and continued by the City Council to April 16, 1997; and WHEREAS, due to the complexity of the facilities proposed to be financed and the other public agencies involved, the proponent of the District requested additional time to allow for the improvements to be considered and further developed; and WHEREAS, due to the complexity of the District, the public hearing called pursuant to the Resolution of Intention was then rescheduled to July 16, 1997, and notice of said rescheduled hearing was published as required by the Act; and WHEREAS, on this date, this City Council held the rescheduled Ut"1S public hearing as required by the Act and the Resolution of Intention relative to the proposed formation of the District; and WHEREAS, at said hearing all interested persons desiring to be heard on all matters pertaining to the formation of the District, the facilities to be provided therein and the levy of said special tax were heard and a full and fair hearing was held; and WHEREAS, at said hearing evidence was presented to this City Council on said matters before it, including a report by the Director of Public Works (the "Report ") as to the facilities to be provided through the District and the costs thereof, a copy of which is on file with the City Clerk, and this City Council at the conclusion of said hearing is fully advised in the premises; and WHEREAS, at the request of the proponent of the District, the City Council determined at the public hearing to include in the list of facilities to be financed by the District only those facilities that will be owned by the City and one other public entity, and the City Council determined at the public hearing that no services are intended to be funded by the District; and WHEREAS, written protests with respect to the formation of the District, the furnishing of specified types of facilities and the rate and method of apportionment of the special taxes have not been filed with the City Clerk by fifty percent (50 %) or more of the registered voters residing within the territory of the District or property owners of one -half (1/2) or more of the area of land within the District and not exempt from the special tax; and WHEREAS, the special tax proposed to be levied in the District to pay for the proposed facilities to be provided therein, as set forth in Exhibit B hereto, has not been eliminated by protest by fifty percent (50 %) or more of the registered voters residing within the territory of the District or the owners of one -half (1/2) or more of the area of land within the District and not exempt from the special tax; and WHEREAS, at the conclusion of the public hearing, it was determined that the facilities to be financed by the District be revised to be as reflected in Exhibit A hereto, and the Rate and Method of Apportionment be revised to be as reflected in Exhibit B hereto, copies of which Exhibits have been provided to the representatives of the landowners in the District. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF MOORPARK, CALIFORNIA, DOES RESOLVE AS FOLLOWS: SECTION 1. The foregoing recitals are true and correct. The City Council finds and determines that the District is complex, due 2 000916 to the facilities originally proposed to be financed by the District which involved other public agencies, and that the rescheduling of the public hearing to July 16, 1997 was appropriate in the circumstances and agreed to by the representatives of the owners of all of the land in the District. SECTION 2. The proposed special tax to be levied within the District has not been precluded by majority protest pursuant to Section 53324 of the Act. SECTION 3. All prior proceedings taken by this City Council in connection with the establishment of the District and the levy of the special tax have been duly considered and are hereby found and determined to be valid and in conformity with the requirements of the Act. On February 19, 1997, this City Council adopted Resolution No. 97 -1279 adopting Local Goals and Policies for Community Facilities Districts, and this City Council hereby finds and determines that the District is in conformity with said goals and policies. SECTION 4. The community facilities district designated "City of Moorpark Community Facilities District No. 97 -1 (Carlsberg Business Park Public Improvements)" is hereby established pursuant to the Act. SECTION 5. The boundaries of the District, as set forth in the Map of the District heretofore recorded in the Ventura County Recorder's Office in Book 16 at Page 81 of Maps of Assessment and Community Facilities Districts, are hereby approved, are incorporated herein by reference and shall be the boundaries of the District. It is hereby acknowledged that one of the County Assessor's Parcel Numbers listed on the map should have been shown as 500 -0- 350 -61, instead of 500 -0- 350 -45. It is further acknowledged that the owners of land in the District have filed a new parcel map with the County Recorder, and no special tax was intended to be levied in the area of the District intended for residential development (as reflected in the Rate and Method of Apportionment of the Special Taxes for the District which does not include Lot 3 in either of the two Zones to be taxed). Accordingly, when the County has assigned new Assessor's Parcel Numbers for the land in the District, the City Clerk is hereby directed to record or cause to be recorded in the office of the Venture County Recorder a revised boundary map for the District which correctly lists the parcel numbers for the land to be included in the District and which eliminates from the boundaries of the District the area of Lot 3 (which is land intended for residential development). SECTION 6. The type of public facilities proposed to be QWQ17 financed by the District and pursuant to the Act shall consist of those items listed as facilities on Exhibit A hereto and by this reference incorporated herein (the "Facilities "). No services will be funded by the District. SECTION 7. Except to the extent that funds are otherwise available to the District to pay for the Facilities and /or the principal and interest as it becomes due on bonds of the District issued to finance the Facilities, a special tax sufficient to pay the costs thereof, secured by a continuing lien against all non - exempt real property in the District, will be levied annually within the District, and collected in the same manner as ordinary ad valorem property taxes or in such other manner as this City Council or its designee shall determine, including direct billing of the affected property owners. The proposed rate and method of apportionment of the special tax among the parcels of real property within the District, in sufficient detail to allow each landowner within the proposed District to estimate the probable maximum amount such owner will have to pay, are described in Exhibit B attached hereto and by this reference incorporated herein. SECTION 8. It is hereby found and determined that the Facilities are necessary to meet increased demands placed upon local agencies as the result of development occurring in the District. SECTION 9. The Finance Director of the City of Moorpark, 799 Moorpark Avenue, Moorpark, California 93021, telephone number (805) 529 -6864, ext. 215, is the officer of the City which will be responsible for preparing annually a current roll of special tax levy obligations by assessor's parcel number and which will be responsible for estimating future special tax levies pursuant to Section 53340.2 of the Act. SECTION 10. Upon recordation of a notice of special tax lien pursuant to Section 3114.5 of the California Streets and Highways Code, a continuing lien to secure each levy of the special tax shall attach to all nonexempt real property in the District and this lien shall continue in force and effect until the special tax obligation is prepaid and permanently satisfied and the lien canceled in accordance with law or until collection of the tax by the City ceases. SECTION 11. In accordance with Section 53325.7 of the Act, the annual appropriations limit, as defined by subdivision (h) of Section 8 of Article XIII B of the California Constitution, of the District is hereby preliminarily established at $1,000,000 and said appropriations limit shall be submitted to the voters of the District as hereafter provided. The proposition establishing said annual appropriations limit shall become effective if approved by 4 000Ql8 the qualified electors voting thereon and shall be adjusted in accordance with the applicable provisions of Section 53325.7 of the Act. SECTION 12. Pursuant to the provisions of the Act, the proposition of the levy of the special tax and the proposition of the establishment of the appropriations limit specified above shall be submitted to the qualified electors of the District at an election the time, place and conditions of which election shall be as specified by a separate resolution of this City Council. SECTION 13. This Resolution shall take effect upon its adoption. PASSED, APPROVED, AND ADOPTED THIS 16 t DAY OF JULY, 1997. 1 VUMIs EXHIBIT A CITY OF MOORPARK CM&ONITY FACILITIES DISTRICT No. 97-1 (CARLSBERG BUSINESS PARK PUBLIC IMPROVEMENTS) DESCRIPTION OF FACILITIES TO BE FINANCED BY THE DISTRICT FACILITIES The planned public improvements include the following: gravity power, telephone and gas utilities, streets (including portions of Science Drive, New Los Angeles Avenue, Spring Road, Tierra Rejada Road and other roads), curbs, gutters, sidewalks, hiking and open space trails, landscaping, hardscaping and striping, traffic signals, street signs and street lights, and other landscaping and slope planting, all within or in the vicinity of the CFD. The improvements shall include all related clearing and grubbing, grading and appurtenances, and any removals or temporary signage or markings related thereto. The Facilities shall include all costs of engineering, design, fees, permits, bonds, supervision, planning, construction staking, inspection, materials A -2 000020 testing and coordination incident thereto. The Facilities shall also include capital improvement fees payable incident to development in the CFD. M-M &I Bond related expenses, including underwriters discount, financial advisor, appraisals, reserve fund, capitalized interest, bond counsel, disclosure counsel, special tax consultant, bond and official statement printing and all other incidental expenses. Administrative fees of the City, the CFD and the Bond trustee or fiscal agent related to the CFD and the Bonds. A -1 VW From: Alan C. Kapanicas To Fax#5298270 Date: 719197 Time 213 34 PM Page 1 of 6 EXHIBIT B RATE AND METHOD OF APPORTIONMENT OF SPECIAL TAXES CITY OF MOORPARK COMMUNITY FACILITIES DISTRICT NO. 97 -1 (CARLSBERG BUSINESS PARK PUBLIC IMPROVEMENTS) A special tax shall be levied annually on each Parcel of land within the City of Moorpark Community Facilities District No. 97 -1 (Carlsberg Business Park Public Improvements) (the "District "), based upon the Special Tax Liability determined by the Finance Director of the City of Moorpark (the "City "), or his designee, through the application of the following procedures. All of the property within the District, unless otherwise exempted by the express provisions of the rate and method of apportionment expressed below, shall be taxed to the extent and in the manner provided below. It is intended that all special taxes applicable to Parcels be collected in the same manner and at the same time as ordinary ad valorem property taxes, and that special taxes so levied will be subject to the same penalties and procedures, sale and lien priority in case of delinquency as is provided for ad valorem taxes, subject to any covenant for judicial foreclosure with respect thereto in the Fiscal Agent Agreement for any Bonds of the City for the District. Notwithstanding the foregoing, the City may collect the special taxes at such other times or in such other manner as necessary or convenient to satisfy the obligations of the District, including by means of direct billing of the affected property o Amers. MAXIMUM SPECIAL TAX ZONE A: The maximum special tax that may be levied in the Fiscal Year ending June 30, 1998 on any Parcel designated as Zone A is $11,200 per acre (said amount to be levied pro rata for any portion of an acre). ZONE B: The maximum special tax that may be levied in the Fiscal Year ending June 30, 1998 on any Parcel designated as Zone B is $7,800 per acre (said amount to be levied pro rata for any portion of an acre). The special tax for Zone A and Zone B shall be levied annually. A Parcel shall be subject to the maximum special tax for not more than 30 years. ASSIGNMENT TO CATEGORIES; LEVY ANNUAL TAX CATEGORIES On or about July 1 of each year, but in any event in sufficient time to include the levy of the special taxes on the County's secured tax roll, the City Finance Director, or his designee, shall determine whether or not each Parcel within the District is Taxable Property, and whether such a\inoorpark11997- 1\r &mafinal.doc 07;09197 T111 G19 1q7 1 d: 7R n- - From Alan C. Kapanicas To FaxA5298270 Date: 719/97 Time: 2:1334 PM Page 2 of 6 Parcel is designated as Zone A or Zone B. Parcels subject to levy shall be determined based upon the records of the County Assessor as of the January 1 preceding such July 1. The City Finance Director, or his designee, shall then determine the Special Tax Liability for the Fiscal Year commencing such July 1, and then shall allocate such liability among the Parcels and levy on each Parcel, as follows: Step 1: Determine the total band Area of each respective Parcel and for all Parcels in the District. Step 2: Multiply the total Land Area for each respective Parcel by the appropriate maximum special tax for that Zone. Step 3: If the aggregate amount to be levied based on Step 2 above is greater than the aggregate Special Tax Liability for such Fiscal Year, reduce the special tax for each Parcel proportionately, so that the aggregate special tax levy for such Fiscal Year for all Parcels within the District is equal to the aggregate Special Tax Liability for such Fiscal Year. Under no circumstances will the special taxes levied against any Parcel used as a private residence be increased as a consequence of delinquency or default by the owner of any other Parcel or Parcels within the District by more than ten (10) percent, pursuant to California Government Code Section 53321(d), as in effect on the date of formation of the District. ALLOCATION OF SPECIAL TAX BY OWNERSHIP WITHIN A ZONE On or about July 1 of each year, but in any event in sufficient time to include the levy of the special taxes on the County's secured tax roll, the City Finance Director, or his designee, shall determine which Parcels in Zone A and Zone B are classified as Developed. For those Parcels classified as Developed, the special tax shall be reallocated among all Parcels having the same ownership, such that the aggregate tax levy for such Parcels equals the annual tax rate calculated above for such Parcels, as follows: Step a: Determine the total Building Floor Area for each respective Parcel and for all Parcels with the same ownership. Step b: Calculate the annual building special tax allocation at eighty percent (80 %) of the Special Tax Liability for such Parcels, divided by the total Building Floor Area for all Parcels with the same ownership. Step c: Allocate the remaining twenty percent (2V,o) of the Special Tax Liability for all Parcels with the same ownership by acreage (said amount to be allocated pro rata for any portion of an acre) of Land Area within such Parcels. Step d: Calculate the sum of the building special tax allocation and the land special tax allocation for each Developed Parcel with the same ownership, such that the sum shall equal the annual special tax levy for such Parcels. a\moorpark \1997- 1\r&raafinal.doc 07`09/97 2 Q 423 TI 11 Gt9 0 47 1 A: 7Q From: Alan C. Kapanicas To Fa)*5298270 Date 7/9/97 Time 2:13:34 PM Page 3 of 6 PREPAYMENTS The special taxes may be prepaid and permanently satisfied for any Parcel subject to the levy of the special taxes, when (1) the assessed value of all remaining Parcels in the District equal or exceed the ratio of three and one - half -to -one (3.5 to 1) of all remaining Bonds outstanding following such prepayment, or when (ii) all Parcels of Taxable Property will be prepaid and permanently satisfied. An owner of a Parcel of Taxable Property who desires to prepay and permanently satisfy the special tax obligation for a Parcel shall notify the City Finance Director in writing of his or her intention. The City Finance Director, or his designee, shall calculate and determine the prepayment amount, the value of all remaining Parcels, and such determination shall be final and conclusive. The prepayment amount for a particular Parcel shall be calculated as follows: 1. The prepayment amount is computed by dividing the Land Area for such Parcel by the total land area for all Parcels within the District, and multiplying the results by the principal amount of any outstanding Bonds. 2. The prepayment amount calculated in (1) above for a particular Parcel will be (a) increased in the amount of (1) applicable redemption premium, if any, on the Bonds to be redeemed with such prepayment; (ii) an amount determined by the City Finance Director or his designee to offset any difference between the amount needed to pay debt service on the Bonds and the amount derived from the reinvestment of the prepaid special tax pending the redemption of such Bonds; and (iii) an amount determined by the City Finance Director or his designee to pay for the applicable Administrative Expenses to provide such prepayment-, and (b) decreased in the amount of (i) any special taxes heretofore paid in respect of said Parcel, then held by the Fiscal Agent and available for payment on the Bonds, and (ii) any reduction in the amount on deposit in the reserve fund for the Bonds due to the redemption of the Bonds with the proceeds of such prepayment. The Parcel with respect to which prepayment is made must not be delinquent in any payment of special taxes previously levied within the District. Prepayment shall not relieve any property owner from paying those special taxes which have already become due and payable, and a Notice of Cessation of Special Tax Lien shall not be recorded against any Parcel pursuant to California Government Code Section 53344, until all special taxes with respect to that Parcel have been paid. DEFINITIONS Administrative Expenses means any or all of the following: the fees and expenses of the Fiscal Agent (including any fees or expenses of its counsel), the expenses of the City in carrying out its duties with respect to the District or otherwise under the Fiscal Agent Agreement (including, but not limited to, the levy and collection of the special taxes) including the fees and expenses of its counsel, an allocable share of the salaries of the City staff directly related to the administration of the District and the Bonds and a proportionate amount of City general administrative overhead related thereto (as allocated in accordance with City policies and practices), any amount required to pay any rebate liability to the federal government and to pay a\rnoorpark \1997- 1\r&mafinal.doc 07109/97 QWV24 JUL 09 19? 14:30 oanr= az From: Alan C. Kapanicas To: Fa)*5298270 Date: 719/97 Time: 2:1334 PM Page 4 of 6 the costs incurred to calculate any possible rebate liability, fees and expenses incurred to comply with any disclosure obligations with respect to the Bonds and /or the District, and all other costs and expenses of the City or the Fiscal Agent incurred in connection with the discharge of their respective duties under the Fiscal Agent Agreement, and, in the case of the City, in any way related to administration of the District. Bonds means any and all bonds of the City issued for the District under Mello -Roos Community Facilities Act of 1982, as amended, authorized to be issued under the Resolution of Issuance. Building Floor Area means the square footage of the area included within the surrounding exterior walls of a building, including each floor of multiple story buildings, exclusive of vent shafts and courts (defined herein as open and unobstructed to the sky). The Building Floor Area will be determined by reference to City approved building plans, building permits, certificates of occupancy, or other such documentation as the City Finance Director or his designee shall determine with respect to improvements existing as of May 1 preceding the then current Fiscal Year. City means the City of Moorpark. County means the County of Ventura. Debt Service, for each Fiscal Year, is the total annual principal and interest payable on the Bonds during the Bond year which commences in such Fiscal Year, less any capitalized interest and any other amounts remaining in a bond fund held under the Fiscal Agent Agreement as of the end of the previous Fiscal Year and available to pay such principle and interest. Developed means Parcels classified as such, due to City approved building plans, building permits, certificates of occupancy, or other such documentation as the City Finance Director or his designee shall determine. The status of a Parcel shall be determined as of June 1 preceding each Fiscal Year. District means the City of Moorpark Community Facilities District No. 97 -1 (Carlsberg Business Park Public Improvements). Fiscal Agent means the Fiscal Agent designated under the Fiscal Agent Agreement. Fiscal Agent Agreement means the agreement by that name approved by the Resolution of Issuance and relating to any then outstanding Bonds, and as it may be amended and /or supplemented from time to time. Fiscal Year means the period starting on July 1 and ending the following June 30. Land Area means the total acreage measurement of a Parcel. Parcel means any County Assessor's parcel or portion thereof that is within the boundaries of the District based on the equalized tax rolls of the County, which is Taxable Property. a:lmoorpark11997- 1\r &mafinal.doc 07/09/97 O00025 JUL 09 '97 14:31 Parr nA From: Alan C. Kapanicas To: Fax#5298270 Date: 719/97 Time: 2:13:34 PM Page 5 of 6 Resolution of Issuance is any Resolution adopted by the City authorizing the issuance of Bonds. Services means the maintenance of parks, parkways and open space within or in the vicinity of the District, in addition to those services provided in the territory of the District prior to April 2, 1997 and do not supplant services already available within that territory, including maintenance of landscaping improvements to be financed by the District. Special Tax Liability for any Fiscal Year is an amount sufficient to pay Debt Service for such Fiscal Year, Administrative Expenses for such Fiscal Year, an amount necessary to replenish any reserve funds for the Bonds, an amount determined by the City Finance Director or his designee to offset past or projected future special tax delinquencies, an amount determined by the Finance Director or his designee as necessary to pay for Services to be rendered in such Fiscal Year, and an amount determined by the City Finance Director or his designee as necessary to make any other payments required to be made in the applicable Fiscal Year by the City or District under the Fiscal Agent Agreement for the Bonds and any supplements thereto. Taxable Property is all real property within the boundaries of the District, except that the following property shall not be taxed: any acres of land owned, conveyed or irrevocable offered for dedication to and accepted by a public agency, or land which is a public right of way or which is an unmanned utility easement making impractical its utilization for other than the purpose set forth in the easement, and excluding however, that property designated as Lot 3 on the attached Map of Zones which is intended to be exempted from the District upon filing of a revised boundary map, up to an aggregate of 138.26 acres, but under no circumstances will Zone A be less than 40 acres and "Zone B be less than 33 acres. Notwithstanding the aforementioned, if any part of a Parcel is Taxable Property, then all of that Parcel shall be designated as Taxable Property. Zone A means the area shown on the attached Map of Zones, such that Zone A includes all of the area noted as "Lot 1" and "Lot 2 ". The total acreage of Zone A designated as Taxable Property shall not be less than 40 acres. Zone B means the area shown on the attached Map of Zones, such that "Zone B" includes all of the area noted as "Lot 4 ". The total acreage of Zone B designated as Taxable Property shall not be less than 33 acres. QW(As 2LUnoorpark11997- 1\r&mafinal.doc 07,109/97 TI 11 Pq 9 Q7 1 d: 71 MOORPARK ' 799 Moorpark Avenue Moorpark, California 93021 (805) 529 -6864 STATE OF CALIFORNIA ) COUNTY OF VENTURA ) ss. CITY OF MOORPARK ) I, Lillian E. Hare, City Clerk of the City of Moorpark, California, do hereby certify under penalty of perjury that the foregoing Resolution No. 91- 1347 was adopted by the City Council of the City of Moorpark at a meeting held on the 16th day of JULY 1997, and that the same was adopted by the following vote: AYES:COUNCILMEMBERS EVANS, PEREZ, RODGERS TEASELY, WOZNIAK AND MAYOR HUNTER NOES:NONE ABSENT:NONE ABSTAIN:NONE WITNESS my hand and the official seal of said City this 17th day of JULY , , 1997. Lillian E. Hare, CMC City Clerk PATRICK HUNTER BERNARDO M. PEREZ CHRISTOPHER EVANS DEBBIE RODGERS TEASLEY JOHN E. WOZNIAK Mayor Mayor Pro Tem Councilmember Councilmember Councilmember