RESOLUTION NO. 2023-XXX
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF FULLERTON, CALIFORNIA, DECLARING RESULTS OF SPECIAL ELECTION AND DIRECTING RECORDING OF NOTICE OF SPECIAL TAX LIEN CITY OF FULLERTON Community Facilities District No. 3 (The Pines at Sunrise Village) THE CITY COUNCIL OF THE CITY OF FULLERTON HEREBY RESOLVES AS FOLLOWS:
1. Authority; Resolution of Formation and Resolution Determining Necessity. City Council adopted a “Resolution of Formation of Community Facilities District” (the “Resolution of Formation”) on August 1, 2023, ordering the formation of the “City of Fullerton Community Facilities District No. 3 (The Pines at Sunrise Village)” (the “CFD”), authorizing the levy of a special tax on property within the CFD and preliminarily establishing an appropriations limit for the CFD, all pursuant to the Mello-Roos Community Facilities Act of 1982, as amended (the “Act”), commencing at California Government Code Section 53311, Title 5, Division 2, Part 1, Chapter 2.5.
City Council also adopted a resolution on August 1, 2023 entitled “Resolution Determining Necessity to Incur Bonded Indebtedness” (the “Resolution Determining Necessity”), determining the necessity to incur bonded indebtedness in the maximum aggregate principal amount of $9,500,000 upon the security of the special tax to levy within the CFD pursuant to the Act.
2. Special Election. Pursuant to the Resolution of Formation and the Resolution Determining Necessity, and pursuant to a resolution entitled “Resolution Calling Special Election” (the “Election Resolution”) adopted by City Council on August 1, 2023, the propositions of the levy of the special tax, the incurring of a bonded indebtedness in the maximum aggregate principal amount of $9,500,000 and the approval of an annual appropriations limit of not to exceed $9,500,000, were submitted to the qualified electors of the CFD as required by the Act.
3. Canvass and Issues Approved. Pursuant to the Election Resolution, which is by this reference incorporated herein, the special election has been held and the City Clerk has on file a Canvass and Statement of Results of Election, (the “Canvass”) a copy of which is attached hereto as Exhibit A. City Council hereby approves the Canvas and declares it a permanent part of the record of its proceedings for the CFD. Pursuant to the Canvass, the issues presented at the special election were approved by the qualified electors of the CFD by more than two-thirds of the votes cast at the special election.
4. Proceedings Approved. Pursuant to the voter approval, City Council declares the CFD fully formed with the authority to levy the special taxes, to incur the approved bonded indebtedness and to have the established appropriations limit, all as heretofore provided in these proceedings and in the Act. City Council finds that all prior proceedings and actions taken by City Council with respect to the CFD were valid and in conformity with the Act.
5. Notice of Special Tax Lien. City Council directs the City Clerk to complete, execute and record in the office of the County Recorder of the County of Orange a notice of special tax lien in the form required by the Act, such recording to occur no later than 15 days following adoption of this resolution.
6. Further Action. City Council authorizes and directs the Director of Administrative Services to take all actions necessary or advisable to give effect to the transactions contemplated by this Resolution.
7. Effective date. This resolution shall become effective immediately.
ADOPTED BY THE FULLERTON CITY COUNCIL on AUGUST 1, 2023.
Fred Jung
Mayor
ATTEST:
Lucinda Williams, MMC
City Clerk
Date
Attachments:
Attachment 1 – Canvass of Votes
EXHIBIT A
CANVASS AND STATEMENT OF RESULT OF ELECTION
CITY OF FULLERTON
Community Facilities District No. 3
(The Pines at Sunrise Village)
I hereby certify that: on August 1, 2023, I canvassed the returns of the election held on August 1, 2023, in the City of Fullerton Community Facilities District No. 3 (The Pines at Sunrise Village); the total number of ballots cast, and the total number of votes cast for and against each ballot measure, are as set forth below; and the totals as shown for and against each ballot measure are full, true and correct:
Qualified Landowner Votes
Total
Votes
Cast
YES
NO
City of Fullerton Community Facilities District No. 3 (The Pines at Sunrise Village), Special Tax Election, August 1, 2023
13 ___
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BALLOT MEASURE: Shall the measure of the City of Fullerton, on behalf of the City of Fullerton Community Facilities District No. 3 (The Pines at Sunrise Village) (the “CFD”): (a) authorizing the City to issue special tax bonds and incur other indebtedness in the maximum principal amount of $9,500,000 (including debt service reserves, capitalized interest and other financing costs), with interest at a rate or rates not to exceed the maximum interest rate permitted by law at the time of sale of such bonds or incurrence of such indebtedness, the proceeds of which will be used to pay for the purchase, construction, expansion, improvement or rehabilitation of the authorized facilities specified in the Resolution of Formation of the CFD adopted by the City Council on August 1, 2023, and to pay for the costs of issuing the bonds and incurring the indebtedness and related expenses; (b) authorizing the City to annually levy a special tax solely on lands within the CFD in accordance with the rate and method for the CFD contained in the Resolution of Formation to finance and pay for the authorized facilities and pay the related administrative costs, all as specified in the Resolution of Formation, at the rates and duration specified in the Resolution of Formation, with the estimated amount of money to be raised annually in the CFD expected to be between $0 and $992,684 for the life of the Bonds, and (c) to establish the annual appropriations limit for the CFD in the amount of $9,500,000, be adopted? IN WITNESS WHEREOF, I HAVE HEREUNTO SET MY HAND this 1st day of August, 2023.
By:
City Clerk