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HomeMy WebLinkAbout128-8814015 -03 000% JHHW:SRC:ce 12/02/88 S6824 RESOLUTION NO. 128-88 A RESOLUTION OF FORMATION OF COMMUNITY FACILITIES DISTRICT, AUTHORIZING THE LEVY OF A SPECIAL TAX WITHIN THE DISTRICT, PRELIMINARILY ESTABLISHING AN APPROPRIATIONS LIMIT FOR THE DISTRICT AND SUBMITTING LEVY OF THE SPECIAL TAX AND THE ESTABLISHMENT OF THE APPROPRIATIONS LIMIT TO THE QUALIFIED ELECTORS OF THE DISTRICT TOWN OF DANVILLE Community Facilities District No. 1988 -1 (Park Bonds and Services) RESOLVED by the Town Council (the "Council ") of the Town of Danville (the "Town "), County of Contra Costa, California, that: WHEREAS, on October 24, 1988, the Council adopted Resolution No. 115 -88, 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" (the "Resolution of Intention ") stating its intention to form Community Facilities District No. 1988 -1 (Park Bonds and Services) (the "District "), of the Council pursuant to the Mello —Roos Community Facilities Act of 1982, as amended (the "Act "); and WHEREAS, the Resolution of Intention, incorporating a map of the proposed boundaries of the District and stating the facilities and services to be provided, the cost of providing such facilities and services, and the rate and method of apportionment of the special taxes to be levied within the District to pay the principal and interest on bonds proposed to be issued with respect to the District and to pay for services, is on file with the Town Clerk and the provisions thereof are incorporated herein by this reference as if fully set forth herein; and WHEREAS, on this date, the Council held a noticed public hearing as required by the Act and the Resolution of Intention relative to the proposed formation of the District; and WHEREAS, at said hearing all interested persons desiring to be heard on all matters pertaining to the formation of the District the facilities and services to be provided therein and the levy of said special taxes were heard and a full and fair hearing was held; and WHEREAS, at said hearing evidence was presented to the Council on said matters before it, including a report duly made pursuant to the Resolution of Intention (the "Report ") as to the facilities and services to be provided within the District and the costs thereof, a copy of which is on file with the Town Clerk, and the Council at the conclusion of said hearing is fully advised in the premises set forth therein; and WHEREAS, the rate and method of apportionment of the special taxes is set forth in Exhibit "B" hereto and has been reviewed with the landowners within the District prior to the date hereof; and WHEREAS, written protests with respect to the formation of the District and /or the furnishing of specified types of facilities as listed in the Report have not been filed with the Town Clerk by fifty percent (50 %) or more of the registered voters residing within the territory of the District or property owners of one -half (1 /2) or more of the area of land within the District; and WHEREAS, the special tax proposed to be levied in the District to pay for the proposed facilities to be provided therein, as set forth in Exhibit "B" hereto, has not been eliminated by protest by fifty percent (50 %) or more of the registered voters residing within the territory of the District or the owners of one -half (112) or more of the area of land within the District. NOW, THEREFORE, IT IS HEREBY ORDERED as follows: 1. The foregoing recitals are true and correct. 2. All prior proceedings taken by the Council in connection with the establishment of the District and the levy of the special tax have been duly considered and are hereby found and determined to be valid and in conformity with the Act. 3. The community facilities district designated "Community Facilities District No. 1988 -1 (Park Bonds and Services)" of the Council is hereby established pursuant to the Act. 4. The description and map of the boundaries of the District, as described in the Resolution of Intention and set forth in the map of the District on file in the Office of the Recorder of the County of Contra Costa, are hereby finally approved, are incorporated herein by reference, and shall be the boundaries of the District. 5. The type of public facilities and services proposed to be financed by the District and pursuant to the Act shall consist of those shown on Exhibit "A" hereto and by this reference incorporated herein (the "Facilities" and "Services "). 6. Except to the extent that funds are otherwise available to the District to pay for the Facilities and Services and /or the principal and interest as it becomes due on bonds of the District issued to acquire the Facilities and to pay for the Services, a special tax sufficient to pay the costs thereof is intended to be levied annually within the District, and collected in the same manner as ordinary ad valorem property taxes. The proposed rate and method of apportionment of the special tax among the parcels of real property within the District, in sufficient detail to allow each landowner within the proposed District to estimate the probable maximum amount such owner will have to pay, are described in Exhibit "B" attached hereto and by this reference incorporated herein. 7. It is hereby found and determined that the Facilities and Services are necessary to meet increased demands placed upon local agencies as the result of development occurring in the District. -2- 8. In accordance with Section 53325.7 of the Act, the appropriations limit, as defined by subdivision (h) of Section 8 of Article XIII B of the California Constitution, of the District is hereby preliminarily established at $40,000,000 and said appropriations limit shall be submitted to the voters of the District as hereafter provided. The proposition establishing said appropriations limit shall become effective if approved by the qualified electors voting thereon and shall be adjusted in accordance with the applicable provisions of Section 53325.7 of the Act. 9. Pursuant to the provisions of the Act, the proposition of the levy of the special tax and the proposition of the establishment of the appropriations limit specified above shall be submitted to the qualified electors of the District at an election the time, place and conditions of which election shall be as specified by a separate resolution of the Council. ADOPTED by the Town Council of the Town of Danville at a regular meeting held on November 30 , 1988, by the following vote: AYES: Councilmembers: GREENBERG, JAGGER, LANE, RITCHEY, SCHLENDORF NOES: NONE ABSENT: NONE &4m� 1'u rya-r v ayor NIALMME, III - ,I APPROVED AS TO FORM: Mark Doane, Town Attorney -3- TOWN OF DANVILLE Community Facilities District No. 1988 -1 (Park Bonds and Services) DESCRIPTION OF FACILITIES TO BE ACQUIRED AND SERVICES TO BE PROVIDED BY THE DISTRICT I. FACILITIES TO BE FINANCED The public facilities to be financed consist of parks and recreation facility projects. The following projects have been given priority by the City Council: Sycamore Valley Park Crow Canyon Park Greenbrook School Park Green Valley School Park Oak Hill Park Amphitheater Magee Park Trails Senior Center Renovation Village Theater Gymnasium Together with the acquisition of all required lands, easements, rights —of —way, licenses, permits and franchises and the construction of all auxiliary work necessary and /or convenient to the accomplishment of the foregoing. The City Council may alter the public facilities priorities providing that these changes are limited to parks and recreation facility projects benefiting the citizens of Danville. 11. SERVICES TO BE FINANCED The public services to be financed shall include a contribution to the maintenance of the facilities financed through Community Facilities District No. 1988 -1 (Park Bonds and Services). III. OTHER Bond related expenses, including underwriters discount, reserve fund, capitalized interest, consultants fees and all other incidental expenses, administrative fees of the Town and the Bond trustee or paying agent related to the District and the bonds. EXHIBIT A A -1 TOWN OF DANVILLE Community Facilities District No. 1988 -1 (Park Bonds and Services) RATE AND METHOD OF APPORTIONMENT OF SPECIAL TAX 1. Basis of Special Tax Levy The annual special tax shall be levied by the Town Council (the "Council ") of the Town of Danville (the "Town ") on each separate parcel within the Community Facilities District No. 1988 -1 (Park Bonds and Services) as shown on the Contra Costa County Assessor's records, subject to the maximum rate specified below. 2. Determination of Parcels Subject to Special Tax The records of the County Assessor of Contra Costa County shall be used to determine the parcels subject to the special tax. The basis for determining the parcels will be the Secured Property Tax Roll. The land use code contained in the Secured Property Tax Roll will be the basis for assigning the appropriate tax rate to each parcel. If no such code has been assigned on the Secured Property Tax Roll or the code is incorrect, the Town of Danville will assign the appropriate code based on its review of the status of the property. All special taxes shall be based on parcels established in the County Assessor's records as of March 1 of each year. Using the records of the County Assessor, on or before the first day of June in each year beginning in 1989, the Town shall prepare a list of the parcels subject to the special tax. The District shall establish the parcels subject to the special tax by excluding all parcels that are not classified as residential using the land code in the Assessor's record and the following: a) Exclude all non — residential parcels. b) Exclude all residential parcels that are not classified as developed. A developed parcel is defined as having an existing residential structure or a building permit issued. c) From the parcels remaining identify the following groups of parcels based upon Assessor's land use codes; • Single family residential parcels, consisting of all parcels with land use codes from 10 to 19 on the Secured Property Tax Roll or based on review by the Town of Danville. • Multi— family residential parcels, consisting of all parcels with land use codes from 20 to 29 on the Secured Property Tax Roll or based on review by the Town of Danville. EXHIBIT B B -1 3. Maximum Annual Special Tax The maximum annual tax shall not exceed the rates per dwelling unit in the base year (FY 1988/89) shown in Figure B -1 as adjusted by a 3% annual escalation factor after the base year. Figure B -2 shows the maximum annual special tax per dwelling unit for each land use category through the year 2020 after adjustment for the escalation factor. 4. Annual Tax Rate The tax rate shall be established annually by the Council of the Town not later than its final meeting in July as follows: a) Annually, at the time of levying the special tax for the District, the Council shall determine all amounts necessary to pay current scheduled debt service on all outstanding bonds (including any scheduled mandatory sinking fund payments), to pay all annual and current expenses of administering the District (the Town may specify an estimate for the annual expenses in each levy), to cure any delinquencies in the payment of principal or interest on the bonds which have occurred or (based on delinquencies in the payment of special taxes which have already taken place) will occur in the Fiscal Year in which the tax will be collected, to replenish any bond reserve fund to the applicable bond reserve requirement as necessary (including, in the replenishment, charges against the reserve account which will be necessary in the future because of delinquencies in the payment of special taxes which have already taken place), to pay for eligible pay —as— you —go expenditures, and to accumulate special tax proceeds for future debt service or directly for authorized projects. The total amount so determined shall be the "Special Tax Requirement ". b) Revenues received by the Town from development fees, donations, grants, or other similar sources may be subtracted from the annual Special Tax Requirement calculated in Step a), at the sole determination and discretion of the Council. c) The remaining Special Tax Requirement calculated in Step b) shall be collected from the taxable parcels within the District by increasing the applicable tax rate per dwelling unit for each land use type by equal proportions of the maximum authorized tax rates shown in Figure B -2 until the tax produces sufficient revenue, but in no event more than the maximum authorized special tax rates. d) Calculate the annual tax for each parcel in the District by multiplying the applicable special tax rate times the number of dwelling units or approved dwelling units on each parcel. e) Notify the appropriate county official of the annual special tax for each parcel. The Town's levy of the special tax rate and calculation of the annual special tax liability for each parcel shall be presumed correct and conclusive. It shall be the responsibility of the taxpayer to correct any errors in the determination of the parcels subject to the tax and their special taxes. EXHIBIT B B -2 TOWN OF DANVILLE Community Facilities District No. 1988 -1 (Park Bonds and Services) Proposed Initial Year Special Tax Rates Fiscal Year 1989/90 Base Year Land Use Maximum Special Tax 1 Single Family Parcels $ 54.00 per dwelling unit Multi Family Parcels $ 45.90 per dwelling unit Commercial /Industrial exempt 2 Notes: 1) Maximum Annual Tax shall be inflated 3% per year over the Fiscal Year 1989/90 base year. 2) Commercial /Industrial parcels are exempt from paying the special tax. EXHIBIT B Figure B -1 TOWN OF DANVILLE Community Facilities District No. 1988 -1 (Park Bonds and Services) Proposed Maximum Annual Tax Rates with 3% Escalation Rate 1 Fiscal Single Multi Year Family Family Endin - - per dwelling unit - - 1990 $ 54.00 $ 45.90 1991 55.62 47.28 1992 57.29 48.70 1993 59.01 50.16 1994 60.78 51.66 1995 62.60 53.21 1996 64.48 54.81 1997 66.41 56.45 1998 68.41 58.14 1999 70.46 59.89 2000 72.57 61.69 2001 74.75 63.54 2002 76.99 65.44 2003 79.30 67.41 2004 81.68 69.43 2005 84.13 71.51 2006 86.65 73.66 2007 89.25 75.87 2008 91.93 78.14 2009 94.69 80.49 2010 97.53 82.90 2011 100.46 85.39 2012 103.47 87.95 2013 106.57 90.59 2014 109.77 93.31 2015 113.06 96.10 2016 116.46 98.99 2017 119.95 101.96 2018 123.55 105.02 2019 127.25 108.17 2020 131.07 111.41 Notes: 1) Annual Escalation Rate = 3% 2) All parcels are taxed for each dwelling unit or approved dwelling unit. Source: Economic and Planning Systems, Inc. EXHIBIT B Figure B -2