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19-849RESOLUTTON NO. 19-849 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MENIFEE ACTING AS THE LEGISLATIVE BOOY OF COMMUNITY FACILITIES OISTRICT NO. 2019.1 OF THE CITYoF MENTFEE (MEADOW RUN) DETERMTNTNG THE NECESSITY TO INCUR BONDED INDEBTEDNESS IN AN AMOUNT NOT TO EXCEED $4,OOO,OOO WITHIN COMMUNITY FACILITIES DISTRICT NO. 2019.1 OF THE CITY OF MENIFEE (MEADOW RUN) AND CALLING AN ELECTION THEREIN WHEREAS, on September 18, 2019, the City Council of the City of Menifee (the "City Council") adopted Resolution No. 19-833 stating its intention to form Community Facilities District No. 2019-1 of the City of Menifee (Meadow Run) ("Community Facilities District No. 2019-1" ot the "District") pursuant to the Mello-Roos Community Facilities Act of 1982, as amended (the "Act"); and WHEREAS, on September 18, 2019, the City Council also adopted Resolution No. 19- 834 stating its intention to incur bonded indebtedness in the amount of up to $4,000,000 within proposed Community Facilities District No. 201 9-1 to finance (1 ) the purchase, construction, modification, expansion, improvement or rehabilitation of public facilities identified in Attachment B to Resolution No. 19-833, and (2) the incidental expenses to be incurred in financing such public facilities and services and forming and administering the District, as identified in Attachment B to Resolulion No. 19-833; and WHEREAS, notice was published as required by law relative to the intention of the City Council to form proposed Community Facilities District No. 2019-1 and to incur bonded indebtedness in the amount of up to $4,000,000 within the boundaries of proposed Community Facilities District No. 2019-1 ; and WHEREAS, on November 6, 2019, this City Council conducted a noticed public hearing to determine whether it should proceed with the formation of Community Facilities District No. 2019-'l , issue bonds to pay for the facilities and incidental expenses described in Resolution No. 19-833 and authorize the rate and method of apportionment of a special tax to be levied within Community Facilities District No. 2019-1 for the purposes described in Resolution No. 19- 833: and WHEREAS, at said hearing all persons desiring to be heard on all matters pertaining to the formation of Community Facilities District No. 2019-1 , 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. 2019- 848 establishing Community Facilities District No. 2019-1 (the "Resolution of Formation") and authorizing the financing of the public facilities (the "Facilities") and the incidental expenses (the "lncidental Expenses") described in Attachment B 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 submittal of a proposition to issue bonded indebledness 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: Secti on 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. 2019-1 . 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 lncidental Expenses, as described in the Resolution of Formation, and carrying out the powers and purposes of Community Facilities District No. 2019-1, 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. 2019-1, other than property exempted from the special tax pursuant to the provisions of the rate and method of apportionment attached to Resolution No. 19-833 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 lhe rate or rates not to exceed the maxrmum interest rate permitted by law, payable annually or semiannually, or rn 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 Act, 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. 2019-1 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. ln 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. 2 Section 8. The date of the special election for Community Facilities District No. 2019-1 on the propositions of incurring the bonded rndebtedness, authorizing the levy of the special tax and setting an appropnations limit shall be November 6, 2019, 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 PASSED AND ADOPTED by the City Council of the City of Menifee at a regular meeting held on this 6th day of November, 2019. ATTEST:APPROVED: Sa hA.Manwar g, City Clerk APPROVED AS TO FORM: J elching,v rney Biil zi an, Mayor Clerk"); provided that, if the election is to take place sooner than g0 days after November 6, 2019, 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 November 6, 2019. The election shall be conducted by the City Clerk. Except as otheMise 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 Formalion, 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. 2019-1 . 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 October 2,2019. Accordingly, since there were fewer than 12 registered voters within the District for each of the 90 days preceding November 6, 2019, 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 po(ion thereof that such landowner owns within Community Facilities District No. 2019-1, 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 November 6, 2019, which waiver is on file with the City Clerk. Section 9. This Resolution shall be effective upon its adoptron. 'yx ),/ ATTACHMENT A BALLOT PROPOSITIONS COMMUNITY FACILITIES DISTRICT NO. 2019.1 oF THE C|TY OF MENTFEE (MEADOW RUN) SPECIAL TAX AND SPECIAL BOND ELECTION November 6, 2019 PROPOSITION A: Shall Community Facilities District No. 2019-1 of the City of Menifee (Meadow Run) (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 lncidental Expenses described in Resolution No. 19-833 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. 19-833 of the City Council of the City of Meniiee be levied to pay for the Facilities, lncidental Expenses and other purposes described in Resolution No. 19-833, including the payment of the principal of and interest on bonds issued to finance the Facilities and lncidental Expenses? 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 Xlll B of the California Constitution, for Community Facilities District No. 2019-1 be an amount equal to $2,000,000? A-1 YES- NO_ YES- NO YES- NO WAIVER OF CERTAIN ELECTION PROCEDURES WITH RESPECT TO LANDOWNER ELECTION FOR COMMUNITY FACILITIES DISTRICT NO. 2019-1 oF THE C|TY OF MENTFEE (MEADOW RUN) The undersigned, Lester Tucker, acting on behalf of the Meritage Homes of California, lnc., a California corporation (the "Owner"), hereby certifies to the City of Menifee (the "City"), with respect to the proposed formation of Community Facilities District No. 2019-'1 of the City of Menifee (Meadow Run) (the "District"), as follows: referred to herein and certifies that his true and ct signature is set forth below: Signature of Lester Tucker: 2. The Owner is the present of 17.0 acres of land located within the proposed boundaries of the District. There are no registered voters residing within the tenitory owned by the Owner and have been none during the g0-day period preceding November 6, 2019. 3. The Owner has received notice of the November 6, 20'19 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 November 6, 2019 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 lnd the issuance of bonded indebtedness, as set forth in Resolutions No. 19-833 and '19-834 adopted by the City Council on September 18, 2019 (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 November 6, 2019, 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 November 6, 2019 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 November 6, 2019 public hearing and consents to the closing of the election as soon as all ballots are received by the City Clerk. 1 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 Lester Tucker to act as its authorized representative to vote in the election 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, mailingand publishing notices for such an election, are unnecessary in light of the fact that theundersigned has received sufficient information regarding the imposition of the special tax andthe 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 anybonded 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 repaybonded indebtedness issued by the District in accordance with the rate and method of apportionment of special taxes provided in Resolution No. 19-833 of the City Council of the City. Dated: November 6, 2019 MERITAGE HOMES OF CALIFORNIA, lNC., a California n By: Lester Tu r, Vice President of Fonvard anning 2 EXHIBIT A SAMPLE BALLOT COMMUNITY FACILITIES DISTRICT NO. 2019.I oF THE C|TY OF MENTFEE (MEADOW RUN) SPECIAL TAX AND SPECIAL BOND ELECTION November 6, 2019 PROPOSITION A: Shall Community Facitities District No. 2019-1 of the City of Menifee (Meadow Run) (the "District") incur an indebtedness and issue bonds in the maximum principal amount of $4,000,000, with interest at a rate or rales not to exceed the maximum interest rate permitted by law, to finance the Facilities and the lncidental Expenses described in Resolution No. 19-833 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. 19-833 of the City Council of the City of Menifee be levied to pay for the Facilities, lncidental Expenses and other purposes describedin Resolution No. 19-833, including the payment of the principal of and interest on bonds issued to finance the Facilities and lncidental Expenses? 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 Xlll B of the California Constrtution, for Community Facilities District No. 2019-1 be an amount equal to $2,000,000? YES-___x_ NO YES NO A-1 YES X. NO ?+^ \d/ $tEtltl STATE OF CALIFORNIA COUNTY OF RIVERSIDE CITY OF MENIFEE h A. tvlan ri , MMC Clerk ) )ss ) l, Sarah A. Manwaring, City Clerk of the City of Menifee, do hereby certify that the foregoing City Council Resolution No. 19-849 was duly adopted by the City Council of the City of Menifee at a meeting thereof held on the 6 of November 2019 by the following vote: Ayes: Deines, Liesemeyer, Sobek, August, ZimmermanNoes: NoneAbsent: NoneAbstain: None //