20-945809/031858-0027 15185914.3 a08/03/20
RESOLUTION NO. _______
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MENIFEE ACTING AS THE LEGISLATIVE BODY OF
COMMUNITY FACILITIES DISTRICT NO. 2020-2 OF THE CITY OF MENIFEE (DEL ORO), DETERMINING THE NECESSITY TO INCUR BONDED INDEBTEDNESS IN AN AMOUNT NOT TO EXCEED $4,000,000 WITHIN COMMUNITY FACILITIES DISTRICT NO. 2020-2 OF THE
CITY OF MENIFEE (DEL ORO) AND CALLING AN ELECTION THEREIN
WHEREAS, on May 20, 2020, the City Council of the City of Menifee (the “City Council”) adopted Resolution No. 20-889 stating its intention to form Community Facilities District No. 2020-2 of the City of Menifee (Del Oro) (“Community Facilities District
No. 2020-2” or the “District”) pursuant to the Mello-Roos Community Facilities Act of 1982, as amended (the “Act”); and
WHEREAS, on May 20, 2020, the City Council also adopted Resolution No. 20-890 stating its intention to incur bonded indebtedness in the amount of up to $4,000,000 within proposed Community Facilities District No. 2020-2 to finance (1) the purchase,
construction, modification, expansion, improvement or rehabilitation of public facilities identified in Attachment B to Resolution No. 20-889 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. 20-889; and
WHEREAS, notice was published as required by law relative to the intention of the
City Council to form proposed Community Facilities District No. 2020-2 and to incur bonded indebtedness in the amount of up to $4,000,000 within the boundaries of proposed Community Facilities District No. 2020-2; and
WHEREAS, on August 5, 2020, this City Council conducted a noticed public hearing to determine whether it should proceed with the formation of Community Facilities
District No. 2020-2, issue bonds to pay for the facilities and incidental expenses described in Resolution No. 20-889 and authorize the rate and method of apportionment of a special tax to be levied within Community Facilities District No. 2020-2 for the purposes described in Resolution No. 20-889; and
WHEREAS, at said hearing all persons desiring to be heard on all matters
pertaining to the formation of Community Facilities District No. 2020-2, 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. 20-889 establishing Community Facilities District No. 2020-2 (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
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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 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:
1. It is necessary to incur bonded indebtedness in a maximum aggregate
principal amount not to exceed $4,000,000 within Community Facilities District No. 2020-
2.
2. The indebtedness is to be incurred for the purpose of financing the costs of purchasing, construction, 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. 2020-2, 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.
3. The whole of the property within Community Facilities District No. 2020-2, other than property exempted from the special tax pursuant to the provisions of the rate and method of apportionment attached to Resolution No. 20-889 as Attachment C, shall pay for the bonded indebtedness pursuant to the levy of the special tax authorized by the Resolution of Formation.
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.
5. The bonds shall bear interest at the rate or rates 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.
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 53351
of the Act, or any other applicable provision of law limiting the maximum interest rate on the bonds.
7. Pursuant to Section 53351 of the Act, a special election is hereby called for Community Facilities District No. 2020-2 on the proposition of incurring the bonded indebtedness. The proposition relative to incurring bonded indebtedness in the maximum
aggregate principal amount of $4,000,000 shall be in the form of Proposition A set forth in Attachment A hereto. In accordance with Sections 53351(h) and 53353.3 of the Act,
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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.
8. The date of the special election for Community Facilities District No. 2020-2 on the propositions of incurring the bonded indebtedness authorizing the levy of the special tax and setting an appropriations limit shall be August 5, 2020, 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 August 5, 2020, 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 August 5, 2020. 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. 2020-2. 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 May 20, 2020. Therefore, 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. 2020-2, as provided in
Section 53326 of the Act. The sole landowner within the District has executed and delivered a waiver of certain election law requirements and consenting to the holding of the election on August 5, 2020, which waiver is on file with the City Clerk.
9. This Resolution shall be effective upon its adoption.
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PASSED AND ADOPTED by the City Council of the City of Menifee at a regular meeting held on this 5th day of August, 2020.
ATTEST:
Sarah A. Manwaring, City Clerk
APPROVED:
Bill Zimmerman, Mayor
APPROVED AS TO FORM:
Jeffrey T. Melching, City Attorney
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ATTACHMENT A
BALLOT PROPOSITIONS
COMMUNITY FACILITIES DISTRICT NO. 2020-2 OF THE CITY OF MENIFEE (DEL ORO)
SPECIAL TAX AND SPECIAL BOND ELECTION
August 5, 2020
PROPOSITION A: Shall Community Facilities District
No. 2020-2 of the City of Menifee (Del Oro) (the “District”) incur an indebtedness and issue bonds in the maximum principal amount of $4,000,000, with interest at a rate or rates not to exceed the maximum interest rate
permitted by law, to finance the Facilities and the
Incidental Expenses described in Resolution No. 20-889 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. 20-889 of the City Council of the City of Menifee be levied to pay for the Facilities, Incidental Expenses and other purposes described in Resolution No. 20-889, including the payment of the principal of and interest on
bonds issued to finance the Facilities and Incidental
Expenses?
YES______
NO_______
YES______
NO_______
PROPOSITION C: For each year commencing with Fiscal Year 2020-21, shall the appropriations limit, as
defined by subdivision (h) of Section 8 of Article XIII B
of the California Constitution, for Community Facilities District No. 2020-2 be an amount equal to $4,000,000?
YES______
NO_______
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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. 20- was duly adopted by the City Council of the City of Menifee at a
meeting thereof held on the 5th day of August 2020 by the following vote:
Ayes:
Noes:
Absent:
Abstain:
_______________________________
Sarah A. Manwaring, City Clerk
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August, Deines, Sobek, Liesemeyer, Zimmerman
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