CITY OF FAIRFIELD
RESOLUTION NO. 2023- 35
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF FAIRFIELD AUTHORIZING THE ISSUANCE
AND SALE OF SPECIAL TAX BONDS FOR CITY OF FAIRFIELD COMMUNITY FACILITIES DISTRICT NO. 2023- 1 ( ONE LAKE PLANNING AREA 5) WITH RESPECT TO IMPROVEMENT AREA NO. 1 OF THE CITY OF FAIRFIELD COMMUNITY FACILITIES DISTRICT NO. 2023- 1 ( ONE LAKE PLANNING AREA 5), AND APPROVING AND AUTHORIZING RELATED DOCUMENTS AND ACTIONS WHEREAS, the City Council has conducted proceedings under and pursuant to the Mello - Roos Community Facilities Act of 1982, as amended, Chapter 2.5 of Part 1 of Division 2 of Title 5 commencing with Section 53311) of the California Government Code (the " Act"), to form ( i) " City of Fairfield Community Facilities District No. 2023- 1 (One Lake Planning Area 5)" ( the " CFD") and ii) " Improvement Area No. 1 of the City of Fairfield Community Facilities District No. 2023- 1 (One Lake Planning Area 5)" (" Improvement Area No. 1"), to authorize the levy of special taxes upon the land within Improvement Area No. 1, and to issue bonds and other debt ( as defined in the Act) secured by said special taxes for the purpose of financing certain public improvements the " Facilities"), all as described in those proceedings; and WHEREAS, on October 18, 2016, by Resolution No. 2016- 237, the Council adopted a Resolution adopting local goals and policies for community facilities districts (the " Goalsand Policies"); and WHEREAS, the Council now wishes to provide for the issuance of special tax bonds for the CFD with respect to Improvement Area No. 1 to finance a portion of the Facilities and related costs and expenses and wishes to direct staff to prepare and return to this Council for approval of certain documents providing for the issuance of the special tax bonds.
NOW, THEREFORE, THE COUNCIL OF THE CITY OF FAIRFIELD HEREBY RESOLVES:
Section 1. Bonds Authorized. Pursuant to the Act and this Resolution, special tax bonds designated the " Improvement Area No. 1 of the City of Fairfield Community Facilities District No. 2023- 1 (One Lake Planning Area 5) Special Tax Bonds" ( the " Bonds") are hereby authorized to be issued in one or more series in an aggregate principal amount not to exceed $ 90, 000, 000.
The Bonds shall be secured and payable from special taxes levied and collected in Improvement Area No. 1.
Section 2. Authorities Granted. City staff is hereby directed to work with the City' s consultants to prepare the documentation required for the issuanceof the Bondsand to return to this council for its approval of such documentation.
Section 3. Actions Authorized. All actions heretofore taken by the officers and agents of the City with respect to the establishment of the CFDand Improvement Area No. 1 and the sale and RES. NO. 2023- 35
issuance of the Bonds are hereby approved, confirmed, and ratified, and the appropriate officers of the City are hereby authorized and directed to do any and all things and take any and all actions and execute any and all certificates, agreements and other documents, which they, or any of them, may deem necessaryor advisable in order to accomplish the purposes of this Resolution.
Section 4. Effectiveness. This Resolution shall take effect from and after its adoption. The provisionsof anypreviousresolutionsin anywayinconsistentwith the provisionshereofin and for the issuance of the Bonds as herein described are hereby repealed.
PASSEDAND ADOPTED this 215tday of February, 2023, by the following vote:
AYES: MEMBERS: MOY / BERTANI / CARR / R/ TONNESEN/ V4e6ktO / WILLIAMS NOES: MEMBERS:
ABSENT: MEMBERS:
ABSTAIN: MEMBERS:
MAYOR
ATTEST:
CITY CLERK
Parluro ? Va CCCACo
Now,