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HomeMy WebLinkAbout116-8814015 -03 JHHW:SRC:ce 11/07/88 S6647 .t RESOLUTION NO. 116-88 A RESOLUTION OF INTENTION TO INCUR BONDED INDEBTEDNESS PURSUANT TO THE MELLO —ROOS COMMUNITY FACILITIES ACT OF 1982 TOWN OF DANVILLE Community Facilities District No. 1988 -1 (Park Bond and Services) RESOLVED by the Town Council (the "Council ") of the Town of Danville (the "Town "), County of Contra Costa, California, that: WHEREAS, this Council has this date adopted its Resolution entitled "A Resolution of Intention to Establish a Community Facilities District and To Authorize the Levy of a Special Tax Pursuant to the Mello -Roos Community Facilities Act of 1982 ", stating its intention to form Community Facilities District No. 1988 -1 (Park Bond and Services) (the "District ") pursuant to the Mello -Roos Community Facilities Act of 1982, as amended (the "Act "), Chapter 2.5 of Part 1 of Division 2 of Title 5 of the California Government Code, for the purpose of financing the acquisition of certain public improvements (the "Facilities ") and the provision of certain services (the "Services "), as further provided in said resolution; and WHEREAS, this Council estimates the amount required for the financing of the acquisition and construction of the Facilities to be the sum of $12,500,000; and WHEREAS, in order to finance said Facilities it is necessary to incur bonded indebtedness in the amount of $12,500,000; NOW, THEREFORE, IT IS ORDERED as follows: 1. It is necessary to incur bonded indebtedness within the boundaries of the District in the amount of $12,500,000 to finance the costs of the Facilities. 2. The bonded indebtedness is proposed to be incurred for the purpose of financing the costs of the acquisition of the Facilities, including acquisition costs and all costs incidental to or connected with the accomplishment of said purposes and of the financing thereof, as permitted by Section 53345.3 of the Act. 3. This Council, acting as legislative body for the District, intends to authorize the issuance and sale of bonds in the maximum aggregate principal amount of not to exceed $12,500,000, bearing interest payable semiannually or in such other manner as this Council shall determine, at a rate not to exceed the maximum rate of interest as may be authorized by applicable law at the time of sale of such bonds, and maturing not to exceed 30 years from the date of the issuance of said bonds. 4. Wednesday, November 30, 1988, at 7:30 o'clock p.m., at the Monte Vista High School Theater, 3131 Stone Valley Road, Danville, California, be, and the same are hereby appointed and fixed as the time and place when and where this Council, as legislative body for the District, will conduct a public hearing on the proposed debt issue and consider and finally determine whether the public interest, convenience and necessity require the issuance of bonds of the Town for the District. 5. The Town Clerk is hereby directed to cause notice of said public hearing to be given by publication one time in a newspaper of general circulation circulated within the District. The publication of said notice shall be completed at least seven (7) days before the date herein set for said public hearing. Said notice shall substantially in the form of Exhibit "A" hereto. -2- OON ADOPTED by the Town Council of the Town of Danville at a regular meeting held on October 24, 1988, by the following vote: AYES: Councilmembers: Schlendorf, Greenberg, Ritchey, Jagger, and Mayor Lane NOES: None ABSENT: None Approved as to form 4"U �W' cz"� 6/Mayor wn Clerk -- 3 , - � .._ .- Mark Daane, Town Attorney y WIN .r moo TOWN OF DANVILLE Community Facilities District No. 1988 -1 (Park Bond and Services) NOTICE OF PUBLIC HEARING Notice is hereby given that on October 24, 1988, the Town Council of the Town of Danville adopted a Resolution entitled "A Resolution of Intention To Incur Bonded Indebtedness Pursuant To The Mello —Roos Community Facilities Act Of 1982 ". Pursuant to the Mello —Roos Community Facilities Act of 1982 the Town Council hereby gives notice as follows: A. The text of said Resolution is as follows: RESOLVED by the Town Council (the "Council') of the Town of Danville (the "Town'), County of Contra Costa, California, that: WHEREAS, this Council has this date adopted its Resolution entitled "A Resolution of Intention to Establish. a Community Facilities District and To Authorize the Levy of a Special Tax Pursuant to the Mello —Roos Community Facilities Act of 1982 ", stating its intention to form Community Facilities District No. 1988 -1 (Park Bond and Services) (the "District') pursuant to the Mello —Roos Community Facilities Act of 1982, as amended (the 'Act'), Chapter 2.5 of Part 1 of Division 2 of Title 5 of the California Government Code, for the purpose of financing the acquisition of certain public improvements (the "Facilities ") and the provision of certain services (the "Services'), as further provided in said resolution; and WHEREAS, this Council estimates the amount required for the financing of the acquisition and construction of the Facilities to be the sum of $12,500,000; and WHEREAS, in order to finance said Facilities it is necessary to incur bonded indebtedness in the amount of $12,500,000; NOW, THEREFORE, IT IS ORDERED as follows: 1. It is necessary to incur bonded indebtedness within the boundaries of the District in the amount of $12,500,000 to finance the costs of the Facilities. 2. The bonded indebtedness is proposed to be incurred for the purpose of financing the costs of the acquisition of the Facilities, including acquisition costs and all costs incidental to or connected with the accomplishment of said purposes and of the financing thereof, as permitted by Section 53345.3 of the Act. 3. This Council, acting as legislative body for the District, intends to authorize the issuance and sale of bonds in the maximum aggregate principal amount of not to exceed $12,500,000, bearing interest payable semiannually or in such other manner as this Council shall determine, at a rate not to exceed the maximum rate of interest as may be authorized by applicable law at the time of sale of such bonds, and maturing not to exceed 30 years from the date of the issuance of said bonds. 4. Wednesday, November 30, 1988, at 7:30 o'clock p.m., at the Monte Vista High School Theater, 3131 Stone Valley Road, Danville, California, be, and the same are hereby appointed and fixed as the time and place when and where this Council, as legislative body for the District, will conduct a public hearing on the proposed debt issue and consider and finally determine whether the public interest, convenience and necessity require the issuance of bonds of the Town for the District. 5. The Town Clerk is hereby directed to cause notice of said public hearing to be given by publication one time in a newspaper of general circulation circulated within the District. The publication of said notice shall be completed at least seven (7) days before the date herein set for said public hearing. Said notice shall substantially in the form of Exhibit "A" hereto. EXHIBIT A A -1 ADOPTED by the Council of the Town of Danville at a regular meeting held on October 24, 1988, by the following vote: AYES: Councilmember: Schlendol f, Greenberg, Ritchey, Jagger, and Mayor Lane NOES: None ABSENT: None /s/ Beverly Lane Approved as to form Mayor /s/ Mark. Doane /s/ George Sipel Mark Doane, Town Attorney Town Clerk B. The hearing referred to in said Resolution will be at the time and place specified in said Resolution. C. At that time and place any person interested, including all persons owning property in the area, will be heard on the proposed debt issue. Dated as of November 1, 1988 /s/ George Sipe[ Town Clerk Town of Danville EXHIBIT A A -2