NOTICE OF PUBLIC HEARING
To Incur Bonded Indebtedness
CITY OF FULLERTON
Community Facilities District No. 3
(The Pines at Sunrise Village)
On June 20, 2023, the City Council (the “City Council”) of the City of Fullerton (the “City”), County of Orange, State of California, adopted its "Resolution of Intention To Incur Bonded Indebtedness" (the “Resolution”) for the "City of Fullerton Community Facilities District No. 3 (The Pines at Sunrise Village)” (the “CFD”) under the Mello-Roos Community Facilities Act of 1982 (the “Act”). Under the Act and the Resolution, the City Council gives notice as follows:
1. Reference is hereby made to the entire text of the above Resolution, a complete copy of which is on file with the City Clerk of the City. The text of the Resolution is summarized as follows:
a. The City Council has adopted its Resolution of Intention to Establish a Community Facilities District, stating its intention to form the CFD for the purpose of financing, among other things, all or part of certain public facilities (the “Facilities”), as further provided in that Resolution of Intention. b. The City Council estimates the amount required to finance the costs of the Facilities to be not more than $9,500,000 and, in order to finance such costs, it is necessary to incur bonded indebtedness in the amount of not more than $9,500,000. c. The proposed bonded indebtedness is to finance the Facilities, including acquisition and improvement costs and all costs incidental to or connected with the accomplishment of such purposes and of the financing thereof, as permitted by the Act. d. The City Council intends to authorize the issuance and sale of bonds or other forms of debt provided by the Act (collectively, the “Bonds”) in the aggregate principal amount of not more than $9,500,000 in one or more series and bearing interest payable semi-annually or in such other manner as the City Council may 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 the Bonds, and maturing not to exceed 40 years from the date of the issuance of the Bonds.
2. The public hearing will be held on Tuesday, August 1, 2023, at 5:30 p.m. or as soon as possible thereafter, in the Council Chambers, 303 West Commonwealth, Fullerton, California.
3. At the public hearing, the testimony of all interested persons, including persons owning property in the area of the proposed CFD, for and against the proposed bonded debt, will be heard. Interested persons may submit written protests or comment to the City.
Dated as of July __, 2023 City of Fullerton
PUBLISH ONCE AT LEAST 7 DAYS BEFORE THE AUGUST 1, 2023, PUBLIC HEARING; OBTAIN PROOF OR AFFIDAVIT OF PUBLICATION AND PROVIDE TO JONES HALL