Loading...
Resolution 2006-52 RESOLUTION NO. 2006-52 RESOLUTION DECLARING RESULTS OF SPECIAL ELECTION TO AMEND RATE AND METHOD OF APPORTIONMENT OF SPECIAL TAX City of Gilroy Community Facilities District No. 2000-1 (Highway 152) WHEREAS, the City Council of the City of Gilroy (the "City") has conducted proceedings under and pursuant to the Mello-Roos Community Facilities Act of 1982, as amended, Chapter 2.5 of Part 1 of Division 2 of Title 5 (commencing with Section 53311) of the California Government Code (the "Act"), to form City of Gilroy Community Facilities District No. 2000-1 (Highway 152) (the "CFD"), to authorize the levy of special taxes upon the land within the CFD, and to issue bonds secured by the special taxes, the proceeds of which are to be used to finance certain public improvements, all as described in those proceedings; and WHEREAS, the City previously issued the City of Gilroy Community Facilities District No. 2000-1 (Highway 152) Special Tax Bonds, Series 2002 (the" 2002 Bonds") in the initial principal amount of $7,185,000; and WHEREAS, the Rate and Method of Apportionment of Special Tax for the CFD (the "Rate and Method"), attached as Exhibit B to the City Council's Resolution No. 2000-87 adopted by the City Council on December 18, 2000, authorizes the levy of a "Special Tax" in the CFD in any fiscal year to pay the "Highway 152 Special Tax Requirement" and lor the "Supplemental Bonds Special Tax Requirement"; and WHEREAS, the Highway 152 Special Tax Requirement generally is defined in the Rate and Method as the amount necessary to pay principal and interest on "Highway 152 Bonds", to create or replenish reserve funds for Highway 152 Bonds, to cure delinquencies in the payment of principal or interest on Highway 152 Bonds, and to pay administrative expenses not associated with "Supplemental Bonds"; and WHEREAS, Highway 152 Bonds are defined in the Rate and Method as bonds or other debt issued by the CFD to pay for the construction or acquisition of improvements to Highway 152; and WHEREAS, the Supplemental Bonds Special Tax Requirement generally is defined in the Rate and Method as the amount necessary to pay principal and interest on Supplemental Bonds, to create or replenish reserve funds for Supplemental Bonds, to cure delinquencies in the payment of principal or interest on Supplemental Bonds, and to pay administrative expenses not associated with Highway 152 Bonds; and WHEREAS, Supplemental Bonds are defined in the Rate and Method as any bonds, the debt service on which are secured by the Supplemental Special Tax in an Improvement Area (as defined in the Rate and Method) within the CFD that have been issued to pay for public facilities other than improvements to Highway 152; and WHEREAS, the Rate and Method dictates that Supplemental Bonds sold to fund improvements within an Improvement Area shall be secured solely by special taxes collected within that Improvement Area and that no special tax shall be levied in any Improvement Area to RESOLUTION NO, 2006-52 -1- pay debt service on Supplemental Bonds sold to fund improvements in another Improvement Area; and WHEREAS, pursuant to the Rate and Method, the Maximum Special Tax in Improvement Area NO.1 is $2,046 per Acre (subject to annual increase) until such time as Supplemental Bonds are issued for public improvements within Improvement Area # 1 of the CFD ("Improvement Area #1"), at which time the Maximum Special Tax increases to $15,262 per Acre (subject to annual increase); and WHEREAS, the Series 2002 Bonds are Highway 152 Bonds as defined in the Rate and Method and are secured by special taxes levied throughout the CFD, Le., in Improvement Area #s 1 through 8, up to the Maximum Special Tax specified for Highway 152 Bonds in each Improvement Area; and WHEREAS, the City has been asked by the owner of the property in Improvement Area # 1 (i) to issue bonds to finance acquisition and construction of certain public facilities other than improvements to Highway 152 and (ii) to amend the Rate and Method as it applies to the Special Tax levied in Improvement Area #1 to pay the Supplemental Bond Special Tax Requirement; and WHEREAS, the City Council has received a petition from the owner of the property in Improvement Area #1 with respect to the proposed amendment of the Rate and Method; and WHEREAS, Section 53331(a) of the Act authorizes the City Council, if it determines that the public convenience and necessity require a change in the Rate and Method, to adopt a resolution of consideration to alter the Rate and Method; and WHEREAS, the City Council has determined that the proposed amendment to the Rate and Method would not adversely impact owners of the Series 2002 Bonds because the proposed amendment will not impact the Special Tax levied to pay the Highway 152 Special Tax Requirement; and WHEREAS, the City Council, acting as the legislative body of the CFD, adopted "Resolution Calling Special Election To Amend Rate and Method of Apportionment of Special Tax" calling for a special landowner election of the qualified electors within Improvement Area #1 to be held on July 17, 2006; and WHEREAS, the special election was held on July 17, 2006, and the ballots were submitted to the City Clerk as the official conducting the election; and WHEREAS, the Clerk has completed a Canvass and Statement of Results of Election (Canvass), a copy of which is attached as Exhibit "A", and the City Council hereby approves the Canvass. NOW THEREFORE, be it resolved as follows: 1. The issue presented at said special election was the approval of an Amendment NO.1 to Rate and Method of Apportionment of Special Tax. RESOLUTION NO. 2006-52 -2- 2. Pursuant to said Canvass on file with the Clerk, the issue presented at said special election was approved by the qualified electors within Improvement Area #1 by more than two-thirds (2/3) of the votes cast at said special election. 3. It is hereby found that all prior proceedings and actions taken by this City Council with respect to the CFD, including but not limited to Improvement Area #1, were valid and in conformity with the Act. 4. The Clerk is hereby directed to execute and cause to be recorded in the office of the County Recorder of the County of Santa Clara an Amended Notice of Special Tax Lien for Improvement Area #1 in the form required by the Act, said recording to occur no later than fifteen (15) days following adoption by the City Council of this Resolution. 5. This Resolution shall take effect upon its adoption. PASSED AND ADOPTED this 17th day of July, 2006 by the following vote: AYES: COUNCILMEMBERS: ARELLANO, BRACCO, CORREA, GARTMAN, V ALlQUETTE, VELASCO, and PINHEIRO NOES: COUNCILMEMBERS: NONE ABSENT: COUNCILMEMBERS: NONE APPROVED: ---" ATT....~~T~.. .___ ~ .r) . / - IYL/;;t!I( Lt[-L-t-e4!'- Rhonda Pellin, City Clerk RESOLUTION NO. 2006-52 -3- EXHIBIT A CANVASS AND STATEMENT OF RESULT OF ELECTION City of Gilroy Community Facilities District No. 2000-1 (Highway 152) I hereby certify that on July 17, 2006, I canvassed the returns of the election held on July 17, 2006, in Improvement Area #1 of City of Gilroy Community Facilities District No. 2000-1 (Highway 152), and the total number of ballots cast in said District and the total number of votes cast for and against the measure are as follows, and the totals as shown for and against the measure are full, true and correct: Qualified Landowner Votes Votes Cast YES NO Improvement Area #1 of City of Gilroy Community Facilities District No, 2000-1 Special Election - July 17, 2006 109 loq ..L BALLOT MEASURE: Shall the Rate and Method of Apportionment of Special Tax for the City of Gilroy Community Facilities District No. 2000-1 (Highway 152) be amended as set forth in Amendment NO.1 to Rate and Method of Apportionment of Special Tax, a copy of which Amendment NO.1 has been provided to me and which I have read and approved, as it relates to the levy of the Special Tax in Improvement Area #1 to pay the Supplemental Bond Special Tax Requirement? IN WITNESS WHEREOF, ~HAVE HE) ~NTO SET 1;lY RA' THIS 17th DAY OF JUL Y 2006.// \...._.-, ,/ 7/:, -- /J ~ #' ,,_ ) By: -'C (~ City Clerk RESOLUTION NO. 2006-52 -4- I, RHONDA PELLIN, City Clerk of the City of Gilroy, do hereby certify that the attached Resolution No. 2006-52 is an original resolution, or true and correct copy of a city resolution, duly adopted by the Council of the City of Gilroy at a regular meeting of said Council held on the 17th day of July, 2006, at which meeting a quorum was present. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the Official Seal of the City of Gilroy this 24th day of July, 2006. ~. ./ ~~~~~, City Clerk of the City of Gilroy (Seal)