ORDINANCE NO. 690
ORDINANCE OF THE BOARD OF SUPERVISORS OF THE
COUNTY OF RIVERSIDE, STATE OF CALIFORNIA,
AUTHORIZING THE LEVY OF A SPECIAL TAX WITHIN
COMMUNITY FACILITIES DISTRICT NO. 88-12 OF
THE COUNTY OF RIVERSIDE (YNEZ CORRIDOR)
WHEREAS, on July 25, 1989, the Board
of Supervisors of the County of Riverside, State of California (the
"Board"), adopted Resolution No. 89-390 (the "Resolution of
Intention to Establish the District") stating its intention to form Community
Facilities District No. 88-12 of the County of Riverside, State of California
(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,
commonly known as the "Mello-Roos Community Facilities Act of 1982"
(the "Act"); and
WHEREAS, on July 25, 1989, the Board
also adopted Resolution No. 89-391 (the "Resolution of Intention to Incur
Bonded Indebtedness") stating its intention to incur bonded indebtedness
in an amount not to exceed $60,000,000 within the District for the purpose of
financing the construction, acquisition, modification or rehabilitation of
certain real and other tangible property having an estimated useful life of
five years or longer, including (1) the construction, purchase, modification,
expansion, improvement or rehabilitation of a performing arts and convention
center, a library, park sites and facilities, roads and roadway improvements to
portions of Ynez Road, Rancho California Road, Solana Way, Hotel Loop Road, North
Plaza Loop Road, Margarita Road and General Kearny Road (including improvements
and additions to freeway overpasses, pavement and base, sidewalks, curbs,
gutters, landscaping and street lights), flood control and storm drain
facilities, water and sewer facilities and utility relocations and extensions
and other appurtenant work (collectively, the "Facilities"), and (2)
all the incidental expenses to be incurred in connection with the Facilities as
authorized by the Act (the "Incidental Expenses"), including, but not
limited to, (a) the cost of designing the Facilities and t he cost of
environmental evaluations thereof, (b) the costs associated with the creation
of the District, issuance of the bonds (including the payment of any amounts to
be rebated to the United States as required by federal law), determination of
the amount of and collection of taxes, the payment of taxes, and costs
otherwise incurred in order to carry out the authorized purposes of the
District, and (c) any other expenses incidental to the construction, completion
and inspection of the Facilities; and
WHEREAS, notice was published as
required by law relative to the intention of the Board to form the proposed
District and to incur bonded indebtedness in an amount not to exceed $60,000,000
within the boundaries of the proposed District and to levy a special tax to pay
for the Facilities; and
WHEREAS, on August 29, 1989, the
Board opened a noticed public hearing as required by law which was continued to
September 12, 1989 and further continued to and closed on September 26, 1989,
to determine whether it should proceed with the formation of the District,
issue bonds to pay for the Facilities and authorize the rate and method of
apportionment of a special tax to be levied within the District for the purpose
of paying for the Facilities and the Incidental Expenses relating thereto,
creating or replenishing any necessary reserve funds, paying the annual costs
associated with the bonds proposed to be issued to finance the Facilities,
including, but not limited to, the principal of and interest on the proposed
bonded indebtedness; and
WHEREAS, at said hearing all persons
desiring to be heard on all matters pertaining to the formation of the
District, the levy of the special tax, the proposed issuance of the bonded
indebtedness, and all other matters set forth in the Resolution of Intention to
Establish the District and the Resolution of Intention to Incur Bonded
Indebtedness, were heard and considered and a full and fair hearing was held
thereon; and
WHEREAS, on September 26, 1989, the
Board adopted Resolution No. 89-449 (the "Resolution of Formation")
which established the District, authorized the levy of a special tax within the
District and called an election within the District for January 29, 1990, on
the propositions of levying a special tax and establishing an appropriations
limit for the District; and
WHEREAS, on September 26, 1989, the
Board adopted Resolution No. 89-450 (the "Resolution to Incur Bonded
Indebtedness") which determined the necessity of incurring bonded
indebtedness in an amount not to exceed $60,000,000 and called special election
within the District for January 29, 1990, on the proposition of incurring
bonded indebtedness and levying a special tax; and
WHEREAS, on January 9, 1990, the
Board adopted Resolution Nos. 90-046 and 90-047 entitled, respectively,
"Resolution of the Board of Supervisors of the County of Riverside
Amending, in part, Resolution No. 89-449" and "Resolution of the
Board of Supervisors of the County of Riverside Amending, in Part, Resolution
No. 89-450," which resolutions continued to March 23, 1990 the special
election previously set for January 29, 1990, in order to allow the Board
additional time to analyze the nature of the facilities and improvements to be
financed by the District.
WHEREAS, on March 23, 1990, a
special election was held within the District at which the qualified electors
approved by more than a two-thirds vote the propositions of incurring bonded
indebtedness, levying a special tax and establishing an appropriations limit
for the District;
NOW, THEREFORE, the Board of
Supervisors of the County of Riverside acting in its capacity as the
legislative body of Community Facilities District No. 88-12 ORDAINS as follows:
SECTION 1. The above recitals are
all true and correct.
SECTION 2. By the passage of this
Ordinance, the Board authorizes the levy of a special tax at the maximum rate
and in accordance with the rate and method of apportionment set forth in
Exhibit "A" attached hereto and incorporated by reference herein,
being the rate and method of apportionment specified in the Resolution of
Intention to Establish the District.
SECTION 3. The Board is hereby
further authorized to determine in each subsequent fiscal year, by ordinance,
or by resolution if permitted by then applicable law, on or before August 10 of
each year, or such later date as is permitted by law, the specific special tax
rate and amount to be levied on each parcel of land in the District. The
special tax rate to be levied shall not exceed the maximum rates set forth in
Exhibit "A" hereto, but the special tax may be levied at a lower
rate.
SECTION 4. Properties or entities of
the state, federal or other local governments shall, except as otherwise
provided in Sections 53317.3 and 53317.5 of the Act and Section B of Exhibit A,
be exempt from the special tax. No other properties or entities are exempt from
the special tax unless the properties or entities are expressly exempted in the
Resolution of Formation (and Exhibit "A" hereto), or in a resolution
of consideration to levy a new special tax or special taxes or to alter the
rate or method of apportionment or an existing special tax as provided in
Section 53334 of the Act.
SECTION 5. All of the collections of
the special tax shall be used as provided for in the Act and the Resolution of
Formation. The special tax shall be levied only so long as needed for its purpose
as described in the Resolution of Formation and the Resolution to Incur Bonded
Indebtedness.
SECTION 6. 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 and the same procedure,
sale and lien priority in case of delinquency as is provided for ad valorem
taxes, as such procedure may be modified by law from time to time.
SECTION 7. As a cumulative remedy,
if any amount levied as a special tax for payment of bond interest or
principal, together with any penalties and other charges accruing under this
Ordinance, are not paid when due, the Board may, not later than four years
after the due date of the last installment of principal on the Bonds, order that
the same be collected by an action brought in the superior court to foreclose
the lien of such special tax.
SECTION 8. The Chairman of the Board
shall sign this Ordinance and the Clerk of the Board shall attest to the
Chairman's signature and then cause the same to be published within fifteen
(15) days after its passage at least once in The Press-Enterprise, a
newspaper of general circulation published and circulated in the County of
Riverside.
SECTION 9. This Ordinance relating
to the levy of the special tax shall take effect immediately upon its final
passage in accordance with the provisions of Section 25123(c) of the California
Government Code, and this specific authorization for adoption is pursuant to
the provisions of Section 53340 of the Act.
SECTION 10. The Clerk of the Board
is hereby authorized to transmit a certified copy of this ordinance and the
attached report to the Riverside County Assessor and Treasurer-Tax Collector,
and to perform all other acts which are required by the Act, this ordinance or
by law in order to accomplish the purpose of this ordinance.
ADOPTED, SIGNED AND APPROVED this
10th day of April, 1990.
ADOPTED: 4-10-90 (Eff.: 4-10-90)
EXHIBIT
A
RATE
AND METHOD OF APPORTIONMENT OF
SPECIAL
TAX FOR
YNEZ
CORRIDOR COMMUNITY FACILITIES DISTRICT NO. 88-12
OF
THE COUNTY OF RIVERSIDE
(YNEZ
CORRIDOR)
A Special Tax shall be levied on and
collected from each parcel of land in Ynez Corridor Community Facilities
District No. 88-12 of the County of Riverside (herein "CFD No.
88-12") in each Fiscal Year commencing July 1, 1990, in an amount
determined by the Board of Supervisors of the County of Riverside as the
legislative body of CFD No. 88-12 (the "Board") in accordance with
the rate and method of apportionment described below. All of the land in CFD
No. 88-12, unless exempted by law or by the provisions hereof, shall be taxed
for the purposes, to the extent and in the manner provided herein.
A. Definitions
"Annual Special Tax Levy"
means the total amount to be levied in a Fiscal Year equal to the sum of
amounts required to pay for (1) the Facilities and any Incidental Expenses
related thereto as such terms are defined in Resolution No. 89-390 of the Board
of Supervisors of the County of Riverside, and (2) the annual debt service on
the Debt of CFD No. 88-12 plus any amount needed to replenish any reserve fund
established pursuant to a resolution authorizing the issuance of Debt plus the
annual administrative expenses for the levy and collection of the Special Tax
and for servicing the Debt of CFD No. 88-12 less the amount of funds which the
Board determines is available for such purposes.
"Debt" means any binding
obligation to repay a sum of money, including obligations in the form of bonds,
certificates of participation, long-term leases, loans from governmental
agencies, or loans from banks, other financial institutions, or private
businesses or individuals.
"Special Tax" means the
special tax authorized pursuant to the Mello-Roos Community Facilities Act of
1982, as amended, comprising Chapter 2.5 of Part 1 of Division 2 of Title 5 of
the Government Code of the State of California, to be levied on the parcels of
land within CFD No. 88-12.
"Fiscal Year" means the
period starting on July 1 and ending the following June 30.
"Maximum Special Tax"
means the Maximum Special Tax determined in accordance with Section C hereof
that can be levied by the Board in any Fiscal Year.
B. Publicly
Owned Land
No Special Tax shall be levied on a
parcel of land which at the time of adoption of the resolution of formation for
CFD No. 88-12 is owned by a public agency, or on any land which must be
acquired by or dedicated to a public agency in order to construct any of the
public facilities to be financed by CFD No. 88-12. Any acquisition by any
public agency of a parcel of land within CFD No. 88-12 subsequent to formation
of CFD No. 88-12 for a purpose other than the acquisition or construction of
the public facilities to be financed by CFD No. 88-12 shall require the public
agency to continue to pay the Annual Special Tax Levy for such parcel or to
prepay, in full, any special tax obligation on such parcel pursuant to the
methodology specified in the resolution of issuance for any Debt of CFD No.
88-12.
C. Maximum Special Tax Rate
The Maximum Special Tax Rate shall
be $10,000 per year per acre of land for Fiscal Year 1990-1991, which Maximum
Special Tax Rate shall be increased on July 1 of each year, commencing on July
1, 1991, by an amount equal to 2% per annum above the rate in effect for the
previous Fiscal Year.
The area of each parcel of land to
be used to calculate the Special Tax for such parcel is the acreage shown on,
or calculated from, the latest Riverside County Assessor's maps for each Fiscal
Year.
D. Method of Apportionment
On or prior to August 10 of each
year, or such later date as is permitted by law and consented to by the County
Auditor, the Board shall determine the Annual Special Tax Levy to be levied for
the current Fiscal Year. The Board shall cause to be computed the aggregate
amount of Special Taxes which could be levied in such Fiscal Year if the
Maximum Special Tax Rate were levied against each parcel of land in CFD No.
88-12 not exempt from the levy of the Special Tax (the "Maximum Annual
Special Tax Levy"). The required Annual Special Tax Levy shall be divided
by the Maximum Annual Special Tax Levy and the resulting ratio shall be the
"Appointment Ratio" for the current Fiscal Year. The amount to be
levied against each acre of land within each parcel for that Fiscal Year shall
be determined by multiplying the Maximum Special Tax for that parcel times the
Apportionment Ratio. The Special Tax shall be levied pro rata against all
parcels based on the Maximum Special Tax for each parcel.
E. Review/Appeal Board
The Board of Supervisors shall
establish as part of the proceedings and administration of CFD No. 88-12 a
special three-member Review/Appeal Board. This Board shall construe and make
determinations relative to the administration of the Special Tax as herein
specified.