HomeMy WebLinkAbout91-63 - Bonded Indebtedness for Community Facilities District No. 91-1 (Plaza Tower Public Improvements)RESOLUTION NO. 91-63
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
COSTA MESA, CALIFORNIA, DECLARING ITS INTENTION TO
INCUR BONDED INDEBTEDNESS FOR THE PROPOSED CITY OF
COSTA MESA COMMUNITY FACILITIES DISTRICT NO. 91-1
(PLAZA TOWER PUBLIC IMPROVEMENTS) PURSUANT TO THE
MELU}RODS COMMUNITY FACILITIES ACT OF 1982.
THE CITY COUNCIL OF THE CITY OF COSTA MESA DOES HEREBY RESOLVE AS
FOLLOWS:
WHEREAS, this City Council has on this date adopted its Resolution
entitled, "A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COSTA MESA,
CALIFORNIA, DECLARING ITS INTENTION TO ESTABLISH CITY OF COSTA MESA Ca MUN-
ITY FACILITIES DISTRICT NO. 91-1 (PLAZA TOWER PUBLIC IMPROVEMENTS) AND TO
AUTHORIZE THE LEVY OF SPECIAL TAXES PURSUANT TO THE MELU}RODS COMMUNITY
FACILITIES ACT OF 1982", stating its intention to form a community facili-
ties 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 certain public
improvements (the "Facilities"), as further provided in said Resolution;
and
WHEREAS, this City Council estimates the amount required for financing
the Facilities to be the sum of $3,200,000.00; and
WHEREAS, in order to finance the Facilities, it is necessary to incur
bonded indebtedness in the amount of $3,200,000.00;
NOW, THEREFORE, IT IS HEREBY ORDERED as follows:
1. It is necessary to incur bonded indebtedness within the boundaries
of the proposed City of Costa Mesa Ccmiunity Facilities District
No. 91-1 (Plaza Tower Public Improvements), (the "District"), in
the amount of $3,200,000.00 to finance the Facilities.
2. The bonded indebtedness is proposed to be incurred for the purpose
of financing the Facilities, including acquisition and improvement
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 City Council, acting as legislative body for the District,
intends to authorize the issuance and sale of bonds in the maximum
aggregate principal amount not to exceed $31200,000.00, bearing
interest payable semi-annually or in such other manner as this
City 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 40 years
from the date of the issuance of said bonds.
4. Monday, August 19, 1991, at 6:30 p.m., in the Council Chambers,
City Hall, 77 Fair Drive, Costa Mesa, California, be, and the same
are hereby appointed and fixed as the time and place when and
where the City 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, J
and necessity require the issuance of bonds of the City for the
District.
5. The City 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 publi-
cation of said notice shall be completed at least seven (7) days
before the date herein set for said public hearing. Said notice
shall be substantially in the form of Exhibit "A" attached hereto.
A05
PASSED AND ADOPTED this 15th day of July, 1991.
• V
ATTEST:
City Clerk of the City of Cos V
Mesa
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) as
CITY OF COSTA MESA )
I, EILEEN P. PHINNEY, City Clerk and ex -officio Clerk of the City
Council of the City of Costa Mesa, hereby certify that the above and fore-
going Resolution No. 91-63 was duly and regularly passed and adopted by
the said City Council at a regular meeting thereof, held on the 15th day of
July, 1991, by the following roll call vote:
AYES: COUNCIL MEMBERS: Hornbuckle, Genis, Buffs, Humphrey,
Erickson
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
IN WITNESS WHEREOF I have hereunto set my hard and affixed the Seal of
the City of Costa Mesa this 16th day of July, 1991.
Ci@y Clerk and ex -officio Clerk of/pe
City Council of the City of Costa esa
,946
9/...I1: .
NOTICE OF PUBLIC HEARING
CITY OF COSTA MESA
Community Facilities District No. 91-1
(Plaza Tower Public Improvements)
Notice is hereby given that on July 15, 1991, the City Council of the City of Costa
Mesa adopted a Resolution entitled "A Resolution of Intention To Incur Bonded
Indebtedness of the Proposed City of Costa Mesa Community Facilities District No. 91-1
(Plaza Tower Public Improvements) Pursuant To The Mello -Roos Community Facilities
Act Of 1982". Pursuant to the Mello -Roos Community Facilities Act of 1982 (the "Act") the
City Council hereby gives notice as follows:
A. The text of said Resolution is as follows:
RESOLVED by the City Council of the City of Costa Mesa (the "City") that:
WHEREAS, this City Council has this date adopted its Resolution entitled "A
Resolution of Intention to Establish a Community Facilities District and To Authorize the
Levy of Special Taxes Pursuant to the Mello -Roos Community Facilities Act of 1982",
stating its intention to form a community facilities 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
certain public improvements (the "Facilities'), as further provided in said Resolution; J
and
WHEREAS, this City Council estimates the amount required for the financing of
the Facilities to be the sum of $8-;609,090 200 000; and
WHEREAS, in order to finance the Facilities it is necessary to incur bonded
indebtedness in the amount of $&600;066 3 00000.
`1' .111• 1' :111.11: 1'111' 1:. ,., ...
1. It is necessary to incur bonded indebtedness within the boundaries of the
proposed City of Costa Mesa Community Facilities District No. 91-1 (Plaza Tower Public
Improvements) (the 'District') in the amount of $8,OW,000$3,200,000 to finance the
Facilities.
2. The bonded indebtedness is proposed to be incurred for the purpose of financing
the Facilities including acquisition and improvement 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.
J
FEsolution No. 91-63
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3. This City 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 $8,000,000, bearing interest payable semi-annually or in such other manner as
this City 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 40 years from the date of the issuance of said bonds.
4. Monday, August 19, 1991, at 6:30 p.m., in the City Council Chambers, City Hall,
77 Fair Drive, Costa Mesa, California, be, and the same are hereby appointed and fixed as
the time and place when and where this City 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 City for the District.
5. The City 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 be substantially in the form of
Exhibit A to said Resolution.
B. The hearing referred to in the aforesaid Resolution shall he at the time and
place specified in said Resolution.
C. At that time and place any person interested, including persons owning
property in the area of the proposed community facilities district, will be heard upon the
Proposed debt issue.
Dated: July 15, 1991
City Clerk of the City of Costa Mesa
Resolution No. 91-63
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