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21-1031RESOLUTION NO. 21-1031 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MENIFEE ACTING AS THE LEGISLATIVE BODY OF COMMUNITY FACILITIES DISTRICT NO. 2021-1 (BANNER PARK) OF THE CITY OF MENIFEE DETERMINING THE NECESSITY TO INCUR BONDED INDEBTEDNESS IN AN AMOUNT NOT TO EXCEED $17,000,000 WITHIN COMMUNITY FACILITIES DISTRICT NO. 2021-1 (BANNER PARK) OF THE CITY OF MENIFEE AND CALLING AN ELECTION THEREIN WHEREAS, on April 21, 2021, the City Council of the City of Menifee (the "City Council") adopted Resolution No. 2021-1013 stating its intention to form Community Facilities District No. 2021-1 (Banner Park) of the City of Menifee ("Community Facilities District No. 2021-1" or the "District") pursuant to the Mello -Roos Community Facilities Act of 1982, as amended (the "Act'); and WHEREAS, on April 21, 2021, the City Council also adopted Resolution No. 21-1014 stating its intention to incur bonded indebtedness in the amount of up to $17,000,000 within proposed Community Facilities District No. 2021-1 to finance (1) the purchase, construction, modification, expansion, improvement or rehabilitation of public facilities identified in Attachment B to Resolution No. 21-1013, and (2) the incidental expenses to be incurred in financing such public facilities and forming and administering the District, as identified in Attachment B to Resolution No. 21-1013; and WHEREAS, notice was published as required by law relative to the intention of the City Council to form proposed Community Facilities District No. 2021-1 and to incur bonded indebtedness in the amount of up to $17,000,000 within the boundaries of proposed Community Facilities District No. 2021-1; and WHEREAS, on June 2, 2021, this City Council conducted a noticed public hearing to determine whether it should proceed with the formation of Community Facilities District No. 2021-1, issue bonds to pay for the facilities and incidental expenses described in Resolution No. 21-1013 and authorize the rate and method of apportionment of a special tax to be levied within Community Facilities District No. 2021-1 for the purposes described in Resolution No. 21- 1013; and WHEREAS, at said hearing all persons desiring to be heard on all matters pertaining to the formation of Community Facilities District No. 2021-1, the levy of a special tax and the issuance of bonds to pay for the cost of the proposed facilities and incidental expenses were heard and a full and fair hearing was held; and WHEREAS, the City Council subsequent to such hearing adopted Resolution No. 21-1030 establishing Community Facilities District No. 2021-1 (the "Resolution of Formation") and authorizing the financing of the public facilities (the "Facilities") and the incidental expenses (the "Incidental Expenses") described in Attachment A thereto; and WHEREAS, the City Council desires to make the necessary findings to incur bonded indebtedness within the District, to declare the purpose for said debt, and to authorize the 4823-3159-4216v4/200299-0005 submittal of a proposition to issue bonded indebtedness to the voters of the District, being the landowners within the proposed District, all as authorized and required by law; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF MENIFEE HEREBY FINDS, DETERMINES, RESOLVES, AND ORDERS AS FOLLOWS: Section 1. It is necessary to incur bonded indebtedness in a maximum aggregate principal amount not to exceed $17,000,000 within Community Facilities District No. 2021-1. Section 2. The indebtedness is to be incurred for the purpose of financing the costs of purchasing, constructing, modifying, expanding, improving, or rehabilitating the Facilities and financing the Incidental Expenses, as described in the Resolution of Formation, and carrying out the powers and purposes of Community Facilities District No. 2021-1, including, but not limited to, financing the costs of selling the bonds, establishing and replenishing bond reserve funds and paying remarketing, credit enhancement and liquidity facility fees and other expenses of the type authorized by Section 53345.3 of the Act. Section 3. The whole of the property within Community Facilities District No. 2021-1, other than property exempted from the special tax pursuant to the provisions of the rate and method of apportionment attached to Resolution No. 2021-1013 as Attachment C, shall pay for the bonded indebtedness pursuant to the levy of the special tax authorized by the Resolution of Formation. Section 4. The maximum term of the bonds to be issued shall in no event exceed thirty-five (35) years from the date of issuance of the bonds, or such longer term as is then permitted by law. Section 5. The bonds shall bear interest at the rate or rates not to exceed the maximum interest rate permitted by law, payable annually or semiannually, or in part annually and in part semiannually, except the first interest payment may be for a period of less than six months, with the actual rate or rates and times of payment to be determined at the time or times of sale thereof. Section 6. The bonds may bear a variable or fixed interest rate, provided that such variable rate or fixed rate shall not exceed the maximum rate permitted by Section 53531 of the Government Code, or any other applicable provision of law limiting the maximum interest rate on the bonds. Section 7. Pursuant to Section 53351 of the Act, a special election is hereby called for Community Facilities District No. 2021-1 on the proposition of incurring the bonded indebtedness. The proposition relative to incurring bonded indebtedness in the maximum aggregate principal amount of $17,000,000 shall be in the form of Proposition A set forth in Attachment A hereto. In accordance with Sections 53351(h) and 53353.5 of the Act, the election shall be consolidated with the special election called on the proposition of levying a special tax within the District as described in the Resolution of Formation, which proposition shall be in the form of Proposition B set forth in Attachment A, and on the proposition of establishing an appropriations limit for the District, which proposition shall be in the form of Proposition C set forth in Attachment A. Section 8. The date of the special election for Community Facilities District No. 2021-1 on the propositions of incurring the bonded indebtedness, authorizing the levy of the special tax 2 4823-3159-4216v4/200299-0005 and setting an appropriations limit shall be June 2, 2021, or such later date as is consented to by the City Clerk, or a Deputy City Clerk of the City (referred to herein as the "City Clerk"); provided that, if the election is to take place sooner than 90 days after June 2, 2021, then the unanimous written consent of each qualified elector within the District to such election date must be obtained. The polls shall be open for said election immediately following the public hearing on June 2, 2021. The election shall be conducted by the City Clerk. Except as otherwise provided by the Act, the election shall be conducted in accordance with the provisions of law regulating elections of the City of Menifee insofar as such provisions are determined by the City Clerk to be applicable. The City Clerk is authorized to conduct the election following the adoption of the Resolution of Formation, and this resolution and all ballots shall be received by and the City Clerk shall close the election by 11:00 p.m. on the election day; provided the election shall be closed at such earlier time as all qualified electors have voted as provided in Section 53326(d) of the Act. Pursuant to Section 53326 of the Act, the ballots for the special election shall be distributed in person, or by mail with return postage prepaid, to the qualified electors within Community Facilities District No. 2021-1. The City Clerk has secured a certificate of the Registrar of Voters of the County of Riverside certifying that there were no registered voters within the District as of April 27, 2021. Accordingly, since there were fewer than 12 registered voters within the District for each of the 90 days preceding June 2, 2021, the qualified electors shall be the landowners within the District and each landowner, or the authorized representative thereof, shall have one vote for each acre or portion thereof that such landowner owns within Community Facilities District No. 2021-1, as provided in Section 53326 of the Act. The landowners within the District have each executed and delivered a waiver of certain election law requirements and consenting to the holding of the election on June 2, 2021, which waivers are on file with the City Clerk. Section 9. This Resolution shall be effective upon its adoption. PASSED AND ADOPTED by the City Council of the City of Menifee at a regular meeting held on this 2"d day of June, 2021. APPROVED: Bill Zim Mayor APPROVED AS TO FORM: r 1 JetJet4 T, elching, City At rney 3 4823-3159-4216v4/200299-0005 ATTACHMENT A BALLOT PROPOSITIONS COMMUNITY FACILITIES DISTRICT NO. 2021-1 (BANNER PARK) OF THE CITY OF MENIFEE SPECIAL TAX AND SPECIAL BOND ELECTION PROPOSITION A: Shall Community Facilities District No. 2021-1 (Banner Park) of the City of Menifee (the "District") incur an indebtedness and issue bonds in the maximum principal amount of $17,000,000, with interest YES at a rate or rates not to exceed the maximum interest rate permitted by law, to finance the Facilities and the NO_ Incidental Expenses described in Resolution No. 2021- 1013 of the City Council of the City of Menifee? PROPOSITION B: Shall a special tax with a rate and method of apportionment as provided in Resolution No. YES 2021-1013 of the City Council of the City of Menifee be levied to pay for the Facilities, Incidental Expenses and NO other purposes described in Resolution No. 2021-1013, including the payment of the principal of and interest on bonds issued to finance the Facilities and Incidental Expenses? PROPOSITION C: For each year commencing with Fiscal Year 2021-22, shall the appropriations limit, as YES defined by subdivision (h) of Section 8 of Article XIII B of the California Constitution, for the District be an amount NO_ equal to $4,000,000? A-1 4823-3159-4216v4/200299-0005 CT14 CNk" WAIVER OF CERTAIN ELECTION PROCEDURES MAY 2 5 2021 WITH RESPECT TO LANDOWNER ELECTION FOR COMMUNITY FACILITIES DISTRICT NO. 2021-1 OF THE CITY OF MENIFEE (BANNER PARK) RECEIVED The undersigned, George Chiao-Tung Chang, acting on behalf of Diamond Brother Five Partnership, LP, a California limited partnership (the "Owner"), hereby certifies to the City of Menifee (the "City"), with respect to the proposed formation of Community Facilities District No. 2021-1 (Banner Park) of the City of Menifee (the "District"), as follows: 1. The undersigned has been duly authorized by the Owner and possesses all authority necessary to execute this Waiver on behalf of the Owner in connection with the election to be called by the City Council of the City with respect to the District. The Owner hereby appoints George Chiao-Tung Chang to act as its horized representative to vote in the election referred to herein and certifies that his true apd exa t signature -is set forth be]ow: Signature of George Chiao-Tung Chang: t -1kI 2. The Owner is the present owner of 3'1.01 acres of larfd locate"ithin the proposed boundaries of the District. There are no registered voters residing within the territory owned by the Owner and have been none during the 90-day period preceding June 2, 2021. 3. The Owner has received notice of the June 2, 2021 public hearing to be held by the City Council of the City regarding the levy of a special tax in the District and the incurring of bonded indebtedness by the District. The Owner agrees that it received adequate notice of the June 2, 2021 hearing. 4. The Owner has received from the City and the City has made available to the Owner necessary and relevant information regarding the proposed formation of the District and the imposition of the special tax and the issuance of bonded indebtedness, as set forth in Resolutions No. 2021-1013 and 2021-1014 adopted by the City Council on April 21, 2021 (together, the "Resolutions") to finance the facilities as set forth in the Resolutions. 5. The undersigned understands that if the District is formed on or after June 2, 2021, an election will be held by the District on the propositions set forth in the sample ballot attached hereto as Exhibit "A" less than 90 days after the close of the June 2, 2021 public hearing as in accordance with Section 53326 of the Government Code, without the preparation of an impartial analysis, arguments or rebuttals concerning the election as provided for by Elections Code Sections 9160 to 9167, inclusive, and 9190 and without preparation of a tax rate statement as provided in Section 9401 of the Elections Code and without further notice of such election as required pursuant to the Elections Code or the Government Code. Having been fully advised with respect to the election, in accordance with the authority contained in Government Code Sections 53326 and 53327, the Owner waives compliance with the foregoing provisions of the Elections Code and Government Code, with any time limits or other procedural requirements pertaining to the conduct of the election which are not being complied with and consents to having the election on any date on or after the close of the June 2, 2021 public hearing and consents to the closing of the election as soon as all ballots are received by the City Clerk. 4811-2016-4072v2/200299-0005 6. The undersigned hereby represents that compliance with the procedural requirements for conducting the election, including the receipt of any ballot arguments and impartial analysis and the time limitations which apply in connection with scheduling, mailing and publishing notices for such an election, are unnecessary in light of the fact that the undersigned has received sufficient information regarding the imposition of the special tax and the issuance of bonded indebtedness as set forth in the Resolutions to allow it to properly complete the attached ballot. The Owner further waives its right to make any protest or complaint or undertake any legal action challenging the validity of the election, the validity of any bonded indebtedness issued by the District as approved at the election, or the validity of the authorization of the special tax to finance facilities for the benefit of the District or to repay bonded indebtedness issued by the District in accordance with the rate and method of apportionment of special taxes provided in Resolution No. 2021-1013 of the City Council of the City. Dated: May)tl 2021. DIAMOND BROTHERS FIVE PARTNERSHIP, LP a California limi�artnership By: Name. eo a Chiaa= Title: a eral Partne 2 4811-2016-4072v2/200299-0005 CI C� OF MENKEE MAY 2 4 2021 WAIVER OF CERTAIN ELECTION PROCEDURES RECEIVED WITH RESPECT TO LANDOWNER ELECTION FOR COMMUNITY FACILITIES DISTRICT NO. 2021-1 (BANNER PARK) OF THE CITY OF MENIFEE The undersigned, Darren Warren, acting on behalf of Pulte Home Company, LLC, a Michigan limited liability company (the "Owner"), hereby certifies to the City of Menifee (the "City"), with respect to the proposed formation of Community Facilities District No. 2021-1 (Banner Park) of the City of Menifee (the "District"), as follows: 1. The undersigned has been duly authorized by the Owner and possesses all authority necessary to execute this Waiver on behalf of the Owner in connection with the election to be called by the City Council of the City with respect to the District. The Owner hereby appoints Darren Warren to act s authorize representative to vote in the election referred to herein and certifies that hi(act ncllure is set forth below: Signature of Darren Warren + 2. The Owner is the present owner of 24.94 acres of land located within the proposed boundaries of the District. There are no registered voters residing within the territory owned by the Owner and have been none during the 90-day period preceding June 2, 2021. 3. The Owner has received notice of the June 2, 2021 public hearing to be held by the City Council of the City regarding the levy of a special tax in the District and the incurring of bonded indebtedness by the District. The Owner agrees that it received adequate notice of the June 2, 2021 hearing. 4. The Owner has received from the City and the City has made available to the Owner necessary and relevant information regarding the proposed formation of the District and the imposition of the special tax and the issuance of bonded indebtedness, as set forth in Resolutions No. 2021-1013 and 2021-1014 adopted by the City Council on April 21, 2021 (together, the "Resolutions") to finance the facilities as set forth in the Resolutions. 5. The undersigned understands that if the District is formed on or after June 2, 2021, an election will be held by the District on the propositions set forth in the sample ballot attached hereto as Exhibit "A" less than 90 days after the close of the June 2, 2021 public hearing as in accordance with Section 53326 of the Government Code, without the preparation of an impartial analysis, arguments or rebuttals concerning the election as provided for by Elections Code Sections 9160 to 9167, inclusive, and 9190 and without preparation of a tax rate statement as provided in Section 9401 of the Elections Code and without further notice of such election as required pursuant to the Elections Code or the Government Code. Having been fully advised with respect to the election, in accordance with the authority contained in Government Code Sections 53326 and 53327, the Owner waives compliance with the foregoing provisions of the Elections Code and Government Code, with any time limits or other procedural requirements pertaining to the conduct of the election which are not being complied with and consents to having the election on any date on or after the close of the June 2, 2021 public hearing and consents to the closing of the election as soon as all ballots are received by the City Clerk. 4843-4617-1368v2/200299-0005 6. The undersigned hereby represents that compliance with the procedural requirements for conducting the election, including the receipt of any ballot arguments and impartial analysis and the time limitations which apply in connection with scheduling, mailing and publishing notices for such an election, are unnecessary in light of the fact that the undersigned has received sufficient information regarding the imposition of the special tax and the issuance of bonded indebtedness as set forth in the Resolutions to allow it to properly complete the attached ballot. The Owner further waives its right to make any protest or complaint or undertake any legal action challenging the validity of the election, the validity of any bonded indebtedness issued by the District as approved at the election, or the validity of the authorization of the special tax to finance facilities for the benefit of the District or to repay bonded indebtedness issued by the District in accordance with the rate and method of apportionment of special taxes provided in Resolution No. 2021-1013 of the City Council of the City. Dated: May 7P 2021 PULTE E COMPANY, LLC a Michi an ited liability mpany By: 4---- Name: Darren Warren Title: Vice President, Land Acquisition & Development 2 4843-4617-1368v2/200299-0005 tAEN I FEE STATE OF CALIFORNIA ) COUNTY OF RIVERSIDE ) ss CITY OF MENIFEE ) I, Sarah A. Manwaring, City Clerk of the City of Menifee, do hereby certify that the foregoing Resolution No. 21-1031 was duly adopted by the City Council of the City of Menifee at a meeting thereof held on the 2nd day of June 2021 by the following vote: Ayes: Deines, Karwin, Liesemeyer, Sobek, Zimmerman Noes: None Absent: None Abstain: None rah A. Man"Warlhg, City