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Project’s PID phase and to issue payment for services provided under the PSA.
The remaining balance of the current Purchase Order (PO) No. 03529 issued under the original PSA is $87,039.18. If approved, the new PSA would be entered into for an amount not-to-exceed $87,039.18 and include a term expiration date of December 31, 2023, to allow the Consultant adequate time to complete the PID work, as outlined in the Scope of the original PSA. There are no additional changes associated with establishing a new PSA for this Project.
STRATEGIC PLAN OBJECTIVE
Connectivity and Mobility
FISCAL IMPACT
There are no additional fiscal impacts associated with approval of this item. This recommendation is to extend the terms of the PSA only. Funds to support the work have already been encumbered through the original PO No. 03529 issued for the PID work in Fund 410 (Scott Road - Road and Bridge Benefit District). The remaining PO balance of $87,039.18 would be liquidated and a new PO would be created under the new PSA for the same amount.
ATTACHMENTS
1. Project Location Map
2. New PSA – Kimley-Horn and Associates, Inc.
3. PO 03529 and PO Transaction Report
Item Title: 10.7
Agreement with Kimley-Horn and Associates, Inc. for the Garbani Road / I-215 Interchange Project, Capital Improvement Program No. 20-05
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Path: E:\Project_Specific_Maps\Engineering_PublicWorks\GarbaniRd_215Interchange\GarbaniRd_215Interchange.aprx Date: 7/11/2023 Garbani Road/I-215 Interchange (CIP 20-05)
Project Location Map
Item Title: 10.7
Agreement with Kimley-Horn and Associates, Inc. for the Garbani Road / I-215 Interchange Project, Capital Improvement Program No. 20-05
Item Page Number: 3
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CITY OF MENIFEE
PROFESSIONAL SERVICES AGREEMENT
CIP 20-05 GARBANI ROAD & I-215 INTERCHANGE- ADDITIONAL PROJECT
INITIATION DOCUMENT (PID)
THIS PROFESSIONAL SERVICES AGREEMENT (“Agreement”) is made and effective this ______ day of __________, 2023 (“Effective Date”) by and between the CITY OF MENIFEE, a California municipal corporation, (“City”) and Kimley-Horn and Associates, Inc., a North Carolina Corporation (“Consultant”). City and Consultant may sometimes herein be referred to individually as a “Party” and collectively as the “Parties.” SECTION 1. SERVICES.
Subject to the terms and conditions set forth in this Agreement, Consultant shall provide to City the services described in the Scope of Services, attached hereto as Exhibit A and incorporated herein by this reference (the “Services”). Consultant will perform subsequent task orders as requested by the Contract Administrator (as defined below), in accordance with the Scope of Services. In the event of a conflict in or inconsistency between the terms of this Agreement and Exhibit A, this Agreement shall prevail.
1.1 Term of Services. The Parties previously entered into a Professional Services Agreement dated September 15, 2021, for a term of August 4, 2021 through December 31, 2022, for the Services also contemplated herein. That agreement was erroneously allowed to expire.
The Parties continued operating as if that agreement continued in effect into 2023. The provisions of that agreement are substantially similar to the provisions of this Agreement. The Parties therefore acknowledge and agree that the term of this Agreement began on January 1, 2023, and shall end on December 31, 2023, unless the term of this Agreement is otherwise terminated or extended as provided for in Section 8. The time provided to Consultant to complete the Services required by this Agreement shall not affect City’s right to terminate this Agreement, as provided for in Section 8.
1.2 Standard of Performance. Consultant represents that Consultant is experienced in performing the Services contemplated herein and, in light of such status and experience, Consultant shall perform the Services required pursuant to this Agreement in the manner and according to the standards observed by a competent practitioner of the profession in which Consultant is engaged in the geographical area in which Consultant practices its profession and to the sole satisfaction of the Contract Administrator.
1.3 Assignment of Personnel. Consultant shall assign only competent personnel to perform the Services pursuant to Agreement. In the event that City, in its sole discretion, at any time during the term of this Agreement, desires the reassignment of any such persons, Consultant shall, immediately upon receiving notice from City of such desire of City, reassign such person or persons.
Item Title: 10.7
Agreement with Kimley-Horn and Associates, Inc. for the Garbani Road / I-215 Interchange Project, Capital Improvement Program No. 20-05
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1.4 Time. Consultant shall devote such time to the performance of the Services pursuant to this Agreement as may be reasonably necessary to satisfy Consultant’s obligations hereunder.
1.5 Authorization to Perform Services. Consultant is not authorized to perform any of the Services or incur any costs whatsoever under the terms of this Agreement until receipt of authorization from the Contract Administrator.
1.6 Covid-19 Safety. If Consultant enters City property or meets in person with City employees during the performance of the Services, Consultant shall comply with all State, County, and local emergency orders, directives, protocols, and best practices related to the COVID-19 pandemic, including, but not limited to: (A) wearing facial coverings, (B) maintaining adequate physical distancing when possible, (C) regular hand washing, and (D) regular hand sanitizing.
SECTION 2. COMPENSATION.
City hereby agrees to pay Consultant a sum not to exceed EIGHTY SEVEN THOUSAND THIRTY NINE DOLLARS AND EIGHTEEN CENTS ($87,039.18) notwithstanding any contrary indications that may be contained in Consultant’s proposal, for the Services to be performed and reimbursable costs incurred under this Agreement. In the event of a conflict between this Agreement and Exhibit A, regarding the amount of compensation, this Agreement shall prevail. City shall pay Consultant for the Services rendered pursuant to this Agreement at the time and in the manner set forth herein. The payments specified below shall be the only payments from City to Consultant for the Services rendered pursuant to this Agreement.
Consultant shall submit all invoices to City in the manner specified herein. Except as specifically authorized in advance by City, Consultant shall not bill City for duplicate services performed by more than one person.
2.1 Invoices. Consultant shall submit invoices monthly during the term of this Agreement, based on the cost for the Services performed and reimbursable costs incurred prior to the invoice date. Invoices shall contain the following information:
a. Serial identifications of progress bills; i.e., Progress Bill No. 1 for the first invoice, etc.;
b. The beginning and ending dates of the billing period; c. A “Task Summary” containing the original contract amount, the amount of prior billings, the total due this period, the balance available under this Agreement, and the percentage of completion;
d. At City’s option, for each item in each task, a copy of the applicable time entries or time sheets shall be submitted showing the name of the person performing the Services, the hours spent by each person, a brief description of the Services, and each reimbursable expense;
Item Title: 10.7
Agreement with Kimley-Horn and Associates, Inc. for the Garbani Road / I-215 Interchange Project, Capital Improvement Program No. 20-05
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e. The total number of hours of work performed under this Agreement by Consultant and each employee, agent, and subcontractor of Consultant performing the Services hereunder necessary to complete the Services described in Exhibit A; f. Receipts for expenses to be reimbursed;
g. The Consultant Representative’s signature.
Invoices shall be submitted to:
City of Menifee
Attn: Accounts Payable
29844 Haun Road
Menifee, CA 92586
2.2 Monthly Payment. City shall make monthly payments, based on invoices received, for the Services satisfactorily performed, and for authorized reimbursable costs incurred. City shall have thirty (30) days from the receipt of an invoice that complies with all of the requirements above to pay Consultant.
2.3 Final Payment. City shall pay the last five percent (5%) of the total amount due pursuant to this Agreement within sixty (60) days after completion of the Services and submittal to City of a final invoice, if all of the Services required have been satisfactorily performed.
2.4 Total Payment. City shall not pay any additional sum for any expense or cost whatsoever incurred by Consultant in rendering the Services pursuant to this Agreement. City shall make no payment for any extra, further, or additional service pursuant to this Agreement.
In no event shall Consultant submit any invoice for an amount in excess of the maximum amount of compensation provided above either for a task or for the entirety of the Services performed pursuant to this Agreement, unless this Agreement is modified in writing prior to the submission of such an invoice.
2.5 Hourly Fees. Fees for the Services performed by Consultant on an hourly basis shall not exceed the amounts shown on the fee schedule included with Exhibit A.
2.6 Reimbursable Expenses. Reimbursable expenses are included within the maximum amount of this Agreement.
2.7 Payment of Taxes. Consultant is solely responsible for the payment of employment taxes incurred under this Agreement and any federal or state taxes.
2.8 Payment upon Termination. In the event that City or Consultant terminates this Agreement pursuant to Section 8, City shall compensate Consultant for all outstanding costs and reimbursable expenses incurred for Services satisfactorily completed and for reimbursable expenses as of the date of written notice of termination. Consultant shall maintain adequate logs and timesheets in order to verify costs and reimbursable expenses incurred to that date.
Item Title: 10.7
Agreement with Kimley-Horn and Associates, Inc. for the Garbani Road / I-215 Interchange Project, Capital Improvement Program No. 20-05
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SECTION 3. FACILITIES AND EQUIPMENT.
Except as otherwise provided, Consultant shall, at its sole cost and expense, provide all facilities and equipment necessary to perform the services required by this Agreement. City shall make available to Consultant only physical facilities such as desks, filing cabinets, and conference space, as may be reasonably necessary for Consultant’s use while consulting with City employees and reviewing records and the information in possession of City. The location, quantity, and time of furnishing those facilities shall be in the sole discretion of City. In no event shall City be required to furnish any facility that may involve incurring any direct expense, including but not limited to computer, long-distance telephone or other communication charges, vehicles, and reproduction facilities.
SECTION 4. INSURANCE REQUIREMENTS.
Before beginning any work under this Agreement, Consultant, at its own cost and expense, shall procure the types and amounts of insurance checked below and provide Certificates of Insurance, indicating that Consultant has obtained or currently maintains insurance that meets the requirements of this section and which is satisfactory, in all respects, to City. Consultant shall maintain the insurance policies required by this section throughout the term of this Agreement.
The cost of such insurance shall be included in Consultant’s compensation. Consultant shall not allow any subcontractor, consultant or other agent to commence work on any subcontract until Consultant has obtained all insurance required herein for the subcontractor(s) and provided evidence thereof to City. Verification of the required insurance shall be submitted and made part of this Agreement prior to execution. Consultant acknowledges the insurance policy must cover inter-insured suits between City and other Insureds.
4.1 Workers’ Compensation. Consultant shall, at its sole cost and expense, maintain Statutory Workers’ Compensation Insurance and Employer’s Liability Insurance for any and all persons employed directly or indirectly by Consultant pursuant to the provisions of the California Labor Code. Statutory Workers’ Compensation Insurance and Employer’s Liability Insurance shall be provided with limits of not less than ONE MILLION DOLLARS ($1,000,000.00) per accident, ONE MILLION DOLLARS ($1,000,000.00) disease per employee, and ONE MILLION DOLLARS ($1,000,000.00) disease per policy. In the alternative, Consultant may rely on a self- insurance program to meet those requirements, but only if the program of self-insurance complies fully with the provisions of the California Labor Code. Determination of whether a self-insurance program meets the standards of the California Labor Code shall be solely in the discretion of the Contract Administrator. The insurer, if insurance is provided, or Consultant, if a program of self- insurance is provided, shall waive all rights of subrogation against City and its officers, officials, employees, and authorized volunteers for loss arising from the Services performed under this Agreement.
4.2 Commercial General and Automobile Liability Insurance. a. General requirements. Consultant, at its own cost and expense, shall maintain commercial general and automobile liability insurance for the term of this Agreement in an amount not less than ONE MILLION DOLLARS ($1,000,000.00) per occurrence, combined single limit coverage, for risks associated with the Services contemplated by this Agreement, TWO Item Title: 10.7
Agreement with Kimley-Horn and Associates, Inc. for the Garbani Road / I-215 Interchange Project, Capital Improvement Program No. 20-05
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MILLION DOLLARS ($2,000,000.00) general aggregate, and TWO MILLION DOLLARS ($2,000,000.00) products/completed operations aggregate. If a Commercial General Liability Insurance or an Automobile Liability Insurance form or other form with a general aggregate limit is used, either the general aggregate limit shall apply separately to the Services to be performed under this Agreement or the general aggregate limit shall be at least twice the required occurrence limit. Such coverage shall include but shall not be limited to, protection against claims arising from bodily and personal injury, including death resulting therefrom, and damage to property resulting from the Services contemplated under this Agreement, including the use of hired, owned, and non-owned automobiles.
b. Minimum scope of coverage. Commercial general coverage shall be at least as broad as Insurance Services Office Commercial General Liability occurrence form CG 0001.
Automobile coverage shall be at least as broad as Insurance Services Office Automobile Liability form CA 0001 Code 2, 8, and 9. No endorsement shall be attached limiting the coverage. c. Additional requirements. Each of the following shall be included in the insurance coverage or added as a certified endorsement to the policy:
a. The insurance shall cover on an occurrence or an accident basis, and not on a claims-made basis.
b. Any failure of Consultant to comply with reporting provisions of the policy shall not affect coverage provided to City and its officers, employees, agents, and volunteers.
4.3 Professional Liability Insurance.
a. General requirements. Consultant, at its own cost and expense, shall maintain for the period covered by this Agreement professional liability insurance for licensed professionals performing the Services pursuant to this Agreement in an amount not less than ONE MILLION DOLLARS ($1,000,000) covering the licensed professionals’ errors and omissions.
Any deductible or self-insured retention shall be shown on the Certificate. If the deductible or self-insured retention exceeds TWENTY-FIVE THOUSAND DOLLARS ($25,000), it must be approved by City.
b. Claims-made limitations. The following provisions shall apply if the professional liability coverage is written on a claims-made form:
a. The retroactive date of the policy must be shown and must be no later than the commencement of the Services.
b. Insurance must be maintained and evidence of insurance must be provided for at least five (5) years after the expiration or termination of this Agreement or completion of the Services, so long as commercially available at reasonable rates.
c. If coverage is canceled or not renewed and it is not replaced with another claims-made policy form with a retroactive date that precedes the Effective Item Title: 10.7
Agreement with Kimley-Horn and Associates, Inc. for the Garbani Road / I-215 Interchange Project, Capital Improvement Program No. 20-05
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Date of this Agreement, Consultant must provide extended reporting coverage for a minimum of five (5) years after the expiration or termination of this Agreement or the completion of the Services. Such continuation coverage may be provided by one of the following: (1) renewal of the existing policy; (2) an extended reporting period endorsement; or (3) replacement insurance with a retroactive date no later than the commencement of the Services under this Agreement. City shall have the right to exercise, at Consultant’s sole cost and expense, any extended reporting provisions of the policy, if Consultant cancels or does not renew the coverage. d. A copy of the claim reporting requirements must be submitted to City prior to the commencement of the Services under this Agreement.
4.4 All Policies Requirements.
a. Acceptability of insurers. All insurance required by this Section is to be placed with insurers with a Bests’ rating of no less than A:VII and admitted in California. b. Verification of coverage. Prior to beginning the Services under this Agreement, Consultant shall furnish City with Certificates of Insurance, additional insured endorsement or policy language granting additional insured status complete certified copies of all policies, including complete certified copies of all endorsements. All copies of policies and certified endorsements shall show the signature of a person authorized by that insurer to bind coverage on its behalf. The Certificate of Insurance must include the following reference: CIP 20-05 GARBANI ROAD & I-215 INTERCHANGE- ADDITIONAL PROJECT INITIATION DOCUMENT (PID). The name and address for Additional Insured endorsements, Certificates of Insurance and Notice of Cancellation is: City of Menifee, 29844 Haun Road, Menifee, CA 92586. City must be endorsed as an additional insured for liability arising out of ongoing and completed operations by or on behalf of Consultant. c. Notice of Reduction in or Cancellation of Coverage. Consultant shall provide written notice to City within ten (10) working days if: (1) any of the required insurance policies is terminated; (2) the limits of any of the required polices are reduced; or (3) the deductible or self insured retention is increased.
d. Additional insured; primary insurance. City and its officers, employees, agents, and authorized volunteers shall be covered as additional insureds with respect to each of the following: liability arising out of the Services performed by or on behalf of Consultant, including the insured’s general supervision of Consultant; products and completed operations of Consultant, as applicable; premises owned, occupied, or used by Consultant; and automobiles owned, leased, or used by Consultant in the course of providing the Services pursuant to this Agreement. The coverage shall contain no special limitations on the scope of protection afforded to City or its officers, employees, agents, or authorized volunteers. The insurance provided to City as an additional insured must apply on a primary and non-contributory basis with respect to any insurance or self-insurance program maintained by City. Additional insured status shall continue for one (1) year after the expiration or termination of this Agreement or completion of the Services.
Item Title: 10.7
Agreement with Kimley-Horn and Associates, Inc. for the Garbani Road / I-215 Interchange Project, Capital Improvement Program No. 20-05
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A certified endorsement must be attached to all policies stating that coverage is primary insurance with respect to City and its officers, officials, employees, and volunteers, and that no insurance or self-insurance maintained by City shall be called upon to contribute to a loss under the coverage.
e. Deductibles and Self-insured Retentions. Consultant shall obtain the written approval of City for the self-insured retentions and deductibles before beginning any of the Services.
During the term of this Agreement, only upon the prior express written authorization of the Contract Administrator, Consultant may increase such deductibles or self- insured retentions with respect to City, its officers, employees, agents, and volunteers. The Contract Administrator may condition approval of an increase in deductible or self-insured retention levels with a requirement that Consultant procure a bond guaranteeing payment of losses and related investigations, claim administration, and defense expenses that is satisfactory in all respects to each of them.
f. Subcontractors. Consultant shall include all subcontractors as insureds under its policies or shall furnish separate certificates and certified endorsements for each subcontractor. All coverages for subcontractors shall be subject to all of the requirements stated herein.
g. Variation. The Contract Administrator may, but is not required to, approve in writing a variation in the foregoing insurance requirements, upon a determination that the coverage, scope, limits, and forms of such insurance are either not commercially available, or that City’s interests are otherwise fully protected.
4.5 Remedies. In addition to any other remedies at law or equity City may have if Consultant fails to provide or maintain any insurance policies or policy endorsements to the extent and within the time herein required, City may, at its sole option, exercise any of the following remedies, which are alternatives to other remedies City may have and are not the exclusive remedy for Consultant’s breach:
a. Obtain such insurance and deduct and retain the amount of the premiums for such insurance from any sums due under this Agreement; b. Order Consultant to stop work under this Agreement or withhold any payment that becomes due to Consultant hereunder, or both stop work and withhold any payment, until Consultant demonstrates compliance with the requirements hereof; and/or c. Terminate this Agreement.
SECTION 5. INDEMNIFICATION.
5.1 Indemnification for Professional Liability. Where the law establishes a professional standard of care for performance of the Services, to the fullest extent permitted by law, Consultant shall indemnify, protect, defend (with counsel selected by City), and hold harmless City and any and all of its officers, employees, officials, volunteers, and agents from and against Item Title: 10.7
Agreement with Kimley-Horn and Associates, Inc. for the Garbani Road / I-215 Interchange Project, Capital Improvement Program No. 20-05
Item Page Number: 10
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any and all claims, losses, costs, damages, expenses, liabilities, liens, actions, causes of action (whether in tort, contract, under statute, at law, in equity, or otherwise) charges, awards, assessments, fines, or penalties of any kind (including reasonable consultant and expert fees and expenses of investigation, costs of whatever kind and nature and, if Consultant fails to provide a defense for City, the legal costs of counsel retained by City) and any judgment (collectively, “Claims”) to the extent same are caused in whole or in part by any negligent or wrongful act, error, or omission of Consultant, its officers, agents, employees, or subcontractors (or any entity or individual that Consultant shall bear the legal liability thereof) in the performance of professional services under this Agreement.
5.2 Indemnification for Other than Professional Liability. Other than in the performance of professional services and to the full extent permitted by law, Consultant shall indemnify, protect, defend (with counsel selected by City), and hold harmless City, and any and all of its officers, employees, officials, volunteers, and agents from and against any and all Claims, where the same arise out of, are a consequence of, or are in any way attributable to, in whole or in part, the performance of this Agreement by Consultant or by any individual or entity for which Consultant is legally liable, including but not limited to officers, agents, employees or subcontractors of Consultant.
5.3 Limitation of Indemnification. The provisions of this Section 5 do not apply to claims occurring as a result of City’s sole or active negligence. The provisions of this Section 5 shall not release City from liability arising from gross negligence or willful acts or omissions of City or any and all of its officers, officials, employees, and agents acting in an official capacity.
SECTION 6. STATUS OF CONSULTANT.
6.1 Independent Contractor. At all times during the term of this Agreement, Consultant shall be an independent contractor and shall not be an employee of City. City shall have the right to control Consultant only insofar as the results of the Services rendered pursuant to this Agreement and assignment of personnel pursuant to Subparagraph 1.3; however, otherwise City shall not have the right to control the means by which Consultant accomplishes the Services rendered pursuant to this Agreement. The personnel performing the Services under this Agreement on behalf of Consultant shall at all times be under Consultant’s exclusive direction and control. Consultant shall not at any time or in any manner represent that it or any of its officers, employees, or agents is in any manner officers, officials, employees, or agents of City. Consultant shall not incur or have the power to incur any debt, obligation, or liability whatever against City, or bind City in any manner. Except for the fees paid to Consultant as provided in this Agreement, City shall not pay salaries, wages, or other compensation to Consultant for performing the Services hereunder for City. City shall not be liable for compensation or indemnification to Consultant for injury or sickness arising out of performing the Services hereunder. Notwithstanding any other City, state, or federal policy, rule, regulation, law, or ordinance to the contrary, Consultant and any of its employees, agents, and subcontractors providing services under this Agreement shall not qualify for or become entitled to any compensation, benefit, or any incident of employment by City, including but not limited to eligibility to enroll in the California Public Employees Retirement System (“PERS”) as an employee of City and entitlement to any contribution to be paid by City for employer contributions and/or employee contributions for PERS benefits.
Item Title: 10.7
Agreement with Kimley-Horn and Associates, Inc. for the Garbani Road / I-215 Interchange Project, Capital Improvement Program No. 20-05
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SECTION 7. LEGAL REQUIREMENTS.
7.1 Governing Law. The laws of the State of California shall govern this Agreement.
7.2 Compliance with Applicable Laws. Consultant and any subcontractor shall comply with all applicable local, state, and federal laws and regulations applicable to the performance of the work hereunder. Consultant shall not hire or employ any person to perform work within City or allow any person to perform the Services required under this Agreement unless such person is properly documented and legally entitled to be employed within the United States. Any and all work subject to prevailing wages, as determined by the Director of Industrial Relations of the State of California, will be the minimum paid to all laborers, including Consultant’s employee and subcontractors. It is understood that it is the responsibility of Consultant to determine the correct scale. The State Prevailing Wage Rates may be obtained from the California Department of Industrial Relations (“DIR”) pursuant to California Public Utilities Code, Sections 465, 466, and 467 by calling 415-703-4774. Appropriate records demonstrating compliance with such requirement shall be maintained in a safe and secure location at all times, and readily available at City’s request. Consultant shall indemnify, defend, and hold City and its elected and appointed boards, members, officials, officers, agents, representatives, employees, and volunteers harmless from and against any liability, loss, damage, cost or expenses (including but not limited to reasonable attorneys’ fees, expert witness fees, court costs, and costs incurred related to any inquiries or proceedings) arising from or related to (i) the noncompliance by Consultant or any party performing the Services of any applicable local, state, and/or federal law, including, without limitation, any applicable federal and/or state labor laws (including, without limitation, the requirement to pay state prevailing wages and hire apprentices); (ii) the implementation of Section 1781 of the Labor Code, as the same may be amended from time to time, or any other similar law; and/or (iii) failure by Consultant or any party performing the Services to provide any required disclosure or identification as required by Labor Code Section 1781, as the same may be amended from time to time, or any other similar law. It is agreed by the Parties that, in connection with performance of the Services, including, without limitation, any and all public works (as defined by applicable law), Consultant shall bear all risks of payment or non-payment of prevailing wages under California law and/or the implementation of Labor Code Section 1781, as the same may be amended from time to time, and/or any other similar law. Consultant acknowledges and agrees that it shall be independently responsible for reviewing the applicable laws and regulations and effectuating compliance with such laws. Consultant shall require the same of all subcontractors.
7.3 Licenses and Permits. Consultant represents and warrants to City that Consultant and its employees, agents, and any subcontractors have all licenses, permits, qualifications, and approvals of whatsoever nature that are legally required to practice their respective professions.
Consultant represents and warrants to City that Consultant and its employees, agents, and subcontractors shall, at their sole cost and expense, keep in effect at all times during the term of this Agreement any licenses, permits, and approvals that are legally required to practice their respective professions. In addition to the foregoing, Consultant and any subcontractors shall obtain and maintain during the term of this Agreement valid Business Licenses from City.
Item Title: 10.7
Agreement with Kimley-Horn and Associates, Inc. for the Garbani Road / I-215 Interchange Project, Capital Improvement Program No. 20-05
Item Page Number: 12
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SECTION 8. TERMINATION AND MODIFICATION.
8.1 Termination. City may cancel this Agreement at any time and without cause upon written notification to Consultant.
8.2 Termination by Consultant. Consultant may cancel this Agreement upon 30 days’ written notice to City.
8.3 Consequences of Termination. In the event of termination, Consultant shall be entitled to compensation for the Services performed up to the date of termination; City, however, may condition payment of such compensation upon Consultant delivering to City any or all documents, photographs, computer software, video and audio tapes, and other materials provided to Consultant or prepared by or for Consultant or City in connection with this Agreement.
8.4 Extension. City may, in its sole and exclusive discretion, extend the end date of this Agreement beyond that provided for in Subsection 1.1. Any such extension shall require a written amendment to this Agreement, as provided for herein. Consultant understands and agrees that, if City grants such an extension, City shall have no obligation to provide Consultant with compensation beyond the maximum amount provided for in this Agreement. Similarly, unless authorized by the Contract Administrator, City shall have no obligation to reimburse Consultant for any otherwise reimbursable expenses incurred during the extension period.
8.5 Amendments. The Parties may amend this Agreement only by a writing signed by all the Parties.
8.6 Assignment and Subcontracting. City and Consultant recognize and agree that this Agreement contemplates personal performance by Consultant and is based upon a determination of Consultant’s unique personal competence, experience, and specialized personal knowledge.
Moreover, a substantial inducement to City for entering into this Agreement was and is the professional reputation and competence of Consultant. Consultant may not assign this Agreement or any interest therein without the prior written approval of the Contract Administrator. Consultant shall not subcontract any portion of the performance contemplated and provided for herein, other than to the subcontractors noted in Consultant’s proposal, without prior written approval of the Contract Administrator. In the event that key personnel leave Consultant’s employ, Consultant shall notify City immediately.
8.7 Survival. All obligations arising prior to the expiration or termination of this Agreement and all provisions of this Agreement allocating liability between City and Consultant shall survive the expiration or termination of this Agreement.
8.8 Options upon Breach by Consultant. If Consultant materially breaches any of the terms of this Agreement, City's remedies shall include, but not be limited to, any or all of the following:
a. Immediately terminate this Agreement;
Item Title: 10.7
Agreement with Kimley-Horn and Associates, Inc. for the Garbani Road / I-215 Interchange Project, Capital Improvement Program No. 20-05
Item Page Number: 13
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b. Retain the plans, specifications, drawings, reports, design documents, and any other work product prepared by Consultant pursuant to this Agreement; c. Retain a different consultant to complete the Services described in Exhibit A; and/or
d. Charge Consultant the difference between the cost to complete the Services described in Exhibit A that is unfinished at the time of breach and the amount that City would have paid Consultant pursuant to Section 2 if Consultant had completed the Services.
SECTION 9. KEEPING AND STATUS OF RECORDS.
9.1 Records Created as Part of Consultant’s Performance. All reports, data, maps, models, charts, studies, surveys, photographs, memoranda, plans, studies, specifications, records, files, or any other documents or materials, in electronic or any other form that Consultant prepares or obtains pursuant to this Agreement and that relate to the matters covered hereunder shall be the property of City. Consultant hereby agrees to deliver those documents to City upon the expiration or termination of this Agreement. It is understood and agreed that the documents and other materials, including but not limited to those described above, prepared pursuant to this Agreement are prepared specifically for City and are not necessarily suitable for any future or other use. Any use of such documents for other projects by City shall be without liability to Consultant. City and Consultant agree that, until final approval by City, all data, plans, specifications, reports, and other documents are confidential and will not be released to third parties without prior written consent of both Parties unless required by law.
9.2 Licensing of Intellectual Property. This Agreement creates a non-exclusive and perpetual license for City to copy, use, modify, reuse, or sublicense any and all copyrights, designs, rights of reproduction, and other intellectual property embodied in plans, specifications, studies, drawings, estimates, test data, survey results, models, renderings, and other documents or works of authorship fixed in any tangible medium of expression, including but not limited to, physical drawings, digital renderings, or data stored digitally, magnetically, or in any other medium, which are prepared or caused to be prepared by Consultant under this Agreement (“Documents and Data”). Consultant shall require all subcontractors to agree in writing that City is granted a non- exclusive and perpetual license for any Documents and Data the subcontractor prepares under this Agreement. Consultant represents and warrants that Consultant has the legal right to license any and all Documents and Data. Consultant makes no such representation and warranty in regard to Documents and Data which were prepared by design professionals other than Consultant or provided to Consultant by the City. City shall not be limited in any way in its use of the Documents and Data at any time, provided that any such use not within the purposes intended by this Agreement shall be at City’s sole risk.
9.3 Consultant’s Books and Records. Consultant shall maintain any and all ledgers, books of account, invoices, vouchers, canceled checks, and other records or documents evidencing or relating to charges for the Services or expenditures and disbursements charged to City under this Agreement for a minimum of three (3) years, or for any longer period required by law, from the date of final payment to Consultant under this Agreement. All such records shall be maintained Item Title: 10.7
Agreement with Kimley-Horn and Associates, Inc. for the Garbani Road / I-215 Interchange Project, Capital Improvement Program No. 20-05
Item Page Number: 14
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in accordance with generally accepted accounting principles and shall be clearly identified and readily accessible.
9.4 Inspection and Audit of Records. Any records or documents that Section 9.3 of this Agreement requires Consultant to maintain shall be made available for inspection, audit, and/or copying at any time during regular business hours, upon oral or written request of City.
Under California Government Code Section 8546.7, if the amount of public funds expended under this Agreement exceeds TEN THOUSAND DOLLARS ($10,000.00), this Agreement shall be subject to the examination and audit of the State Auditor, at the request of City or as part of any audit of City, for a period of three (3) years after final payment under this Agreement.
SECTION 10. MISCELLANEOUS PROVISIONS.
10.1 Attorneys’ Fees. If either Party to this Agreement brings any action, including an action for declaratory relief, to enforce or interpret the provision of this Agreement, the prevailing Party shall be entitled to reasonable attorneys’ fees and expenses including costs, in addition to any other relief to which that Party may be entitled; provided, however, that the attorneys’ fees awarded pursuant to this Section shall not exceed the hourly rate paid by City for legal services multiplied by the reasonable number of hours spent by the prevailing Party in the conduct of the litigation. The court may set such fees in the same action or in a separate action brought for that purpose.
10.2 Applicable Law; Venue. The internal laws of the State of California shall govern the interpretation and enforcement of this Agreement. In the event that either Party brings any action against the other under this Agreement, the Parties agree that trial of such action shall be vested exclusively in Riverside County.
10.3 Severability. If any provision of this Agreement is held invalid, the remainder of this Agreement shall not be affected thereby and all other parts of this Agreement shall nevertheless be in full force and effect.
10.4 Section Headings and Subheadings. The section headings and subheadings contained in this Agreement are included for convenience only and shall not limit or otherwise affect the terms of this Agreement.
10.5 No Implied Waiver of Breach. The waiver of any breach of a specific provision of this Agreement does not constitute a waiver of any other breach of that term or any other term of this Agreement.
10.6 Successors and Assigns. The provisions of this Agreement shall inure to the benefit of and shall apply to and bind the successors and assigns of the Parties.
10.7 Consultant Representative. All matters under this Agreement shall be handled for Consultant by Jason Valencia, PE (“Consultant’s Representative”). The Consultant’s Representative shall have full authority to represent and act on behalf of Consultant for all purposes under this Agreement. The Consultant’s Representative shall supervise and direct the Services, using his best skill and attention, and shall be responsible for all means, methods, techniques, Item Title: 10.7
Agreement with Kimley-Horn and Associates, Inc. for the Garbani Road / I-215 Interchange Project, Capital Improvement Program No. 20-05
Item Page Number: 15
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sequences, and procedures and for the satisfactory coordination of all portions of the Services under this Agreement.
10.8 City Contract Administration. This Agreement shall be administered by a City employee, Jenny McConville, Management Analyst I (“Contract Administrator”). All correspondence shall be directed to or through the Contract Administrator or his designee. The Contract Administrator shall have the power to act on behalf of City for all purposes under this Agreement. Unless otherwise provided in this Agreement, Consultant shall not accept direction or orders from any person other than the Contract Administrator or his designee.
10.9 Notices. Any written notice to Consultant shall be sent to:
Kimley-Horn and Associates, Inc.
Attn: Jason Valencia, PE
3880 Lemon Street, Suite 420
Riverside, CA 92501
Any written notice to City shall be sent to the Contract Administrator at:
City of Menifee
29844 Haun Road
Menifee, CA 92586
Attn: Jenny McConville, Management Analyst I
with a copy to:
City Clerk
City of Menifee
29844 Haun Road
Menifee, CA 92586
10.10 Professional Seal. Where applicable in the determination of the Contract Administrator, the first page of a technical report, first page of design specifications, and each page of construction drawings shall be stamped/sealed and signed by the licensed professional responsible for the report/design preparation. The stamp/seal shall be in a block entitled “Seal and Signature of Registered Professional with report/design responsibility,” as in the following example.
__________________________________________
Seal and Signature of Registered Professional with
report/design responsibility.
10.11 Rights and Remedies. Except with respect to rights and remedies expressly declared to be exclusive in this Agreement, the rights and remedies of the Parties are cumulative and the exercise by either Party of one or more of such rights or remedies shall not preclude the exercise by it, at the same or different times, of any other rights or remedies for the same default or any other default by the other Party.
Item Title: 10.7
Agreement with Kimley-Horn and Associates, Inc. for the Garbani Road / I-215 Interchange Project, Capital Improvement Program No. 20-05
Item Page Number: 16
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10.12 Integration. This Agreement, including the scope of services attached hereto and incorporated herein as Exhibit A, represents the entire and integrated agreement between City and Consultant and supersedes all prior negotiations, representations, or agreements, either written or oral. The terms of this Agreement shall be construed in accordance with the meaning of the language used and shall not be construed for or against either Party by reason of the authorship of this Agreement or any other rule of construction which might otherwise apply.
10.13 Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be an original and all of which together shall constitute one agreement.
10.14 Execution of Contract. The persons executing this Agreement on behalf of each of the Parties hereto represent and warrant that (i) such Party is duly organized and existing, (ii) they are duly authorized to execute and deliver this Agreement on behalf of said Party, (iii) by so executing this Agreement, such Party is formally bound to the provisions of this Agreement, and (iv) that entering into this Agreement does not violate any provision of any other Agreement to which said Party is bound.
10.15 Nondiscrimination. Consultant covenants that, by and for itself, its heirs, executors, assigns, and all persons claiming under or through them, that in the performance of this Agreement there shall be no discrimination against or segregation of, any person or group of persons on account of any impermissible classification including, but not limited to, race, color, creed, religion, sex, marital status, sexual orientation, national origin, or ancestry.
10.16 No Third Party Beneficiaries. With the exception of the specific provisions set forth in this Agreement, there are no intended third-party beneficiaries under this Agreement and no such other third parties shall have any rights or obligations hereunder.
10.17 Nonliability of City Officers and Employees. No officer, official, employee, agent, representative, or volunteer of City shall be personally liable to Consultant, or any successor in interest, in the event of any default or breach by City or for any amount which may become due to Consultant or to its successor, or for breach of any obligation of the terms of this Agreement.
10.18 No Undue Influence. Consultant declares and warrants that no undue influence or pressure is used against or in concert with any officer or employee of City in connection with the award, terms or implementation of this Agreement, including any method of coercion, confidential financial arrangement, or financial inducement. No officer or employee of City shall receive compensation, directly or indirectly, from Consultant, or from any officer, employee, or agent of Consultant, in connection with the award of this Agreement or any work to be conducted as a result of this Agreement.
10.19 No Benefit to Arise to City Employees. No member, officer, or employee of City, or their designees or agents, and no public official who exercises authority over or has responsibilities with respect to this Agreement during his/her tenure or for one (1) year thereafter, shall have any interest, direct or indirect, in any agreement or sub-agreement, or the proceeds thereof, for the Services to be performed under this Agreement. [Signatures on Following Page]
Item Title: 10.7
Agreement with Kimley-Horn and Associates, Inc. for the Garbani Road / I-215 Interchange Project, Capital Improvement Program No. 20-05
Item Page Number: 17
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IN WITNESS WHEREOF, the Parties hereto have executed and entered into this Agreement as of the Effective Date.
CITY OF MENIFEE
Armando G. Villa, City Manager
Attest:
Stephanie Roseen, Acting City Clerk
Approved as to Form:
Jeffrey T. Melching, City Attorney
CONSULTANT
Darren Adrian, Principal
Jason Valencia, Assistant Secretary
[Note: 2 officer’s signatures required if
Consultant is a corporation, unless provided
with a certificate of secretary in-lieu]
Item Title: 10.7
Agreement with Kimley-Horn and Associates, Inc. for the Garbani Road / I-215 Interchange Project, Capital Improvement Program No. 20-05
Item Page Number: 18
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EXHIBIT A.
EXHIBIT A
SCOPE OF SERVICES
Services shall include CIP 20-05 Garbani Road & I-215 Interchange- Additional Project Initiation Document (PID) in the amount not to exceed EIGHTY SEVEN THOUSAND THIRTY NINE DOLLARS AND EIGHTEEN CENTS ($87,039.18) as further detailed in the following page(s).
Item Title: 10.7
Agreement with Kimley-Horn and Associates, Inc. for the Garbani Road / I-215 Interchange Project, Capital Improvement Program No. 20-05
Item Page Number: 19
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Scope of Services
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EXHIBIT A.
Item Title: 10.7
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Item Title: 10.7
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Agreement with Kimley-Horn and Associates, Inc. for the Garbani Road / I-215 Interchange Project, Capital Improvement Program No. 20-05 Item Page Number: 35
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CITY OF MENIFEE
29844 Haun Road
Menifee, CA 92586
(951) 672-6777
DATE PO NUMBER
8/4/2021 03529
VENDOR: 00840 SHIP TO: CITY OF MENIFEE
KIMLEY-HORN AND ASSOCIATES, INC.
401 B STREET, SUITE 600
29844 HAUN ROAD
MENIFEE, CA 92586
SAN DIEGO, CA 92101
FOB Point: Req. No:
Terms: Net 30 Days Dept: CIP PROJECTS
Req Del Date: Contact: FORD, HAILE
Confirming? NoContract No: 2022-0105
Special Inst:
Quantity Unit Description
PROFESSIONAL SERVICES AGREEMENT FOR CIP
20-05 GARBANI ROAD & I-215 INTERCHANGE
PROJECT INITIATION DOCUMENT (PID)
SERVICES
Unit Price Ext. Price
570,264.16
THIS PURCHASE ORDER IS SUBJECT TO THE TERMS AND CONDITIONS SET FORTH AT WWW.CITYOFMENIFEE.US ON THE FINANCE DEPARTMENT PAGE. ATTACHED HERETO AND INCORPORATED HEREIN BY THIS REFERENCE. BY ACCEPTING THIS PURCHASE ORDER, SELLER
AGREES IT HAS READ, ACKNOWLEDGED, AND ACCEPTED THE TERMS AND CONDITIONS INCLUDING AGREEING TO (1) MAINTAIN THE REQUIRED INSURANCES SET FORTH IN SECTION 7; AND (2) INDEMNIFY AND HOLD HARMLESS THE CITY, ITS ELECTED AND APPOINTED OFFICIALS,
AGENTS, AND EMPLOYEES, AND VOLUNTEERS, FROM AND AGAINST ANY AND ALL CLAIMS,
LIABILITIES, EXPENSES, DAMAGES, COSTS AND LOSSES, ARISING FROM OR IN ANY WAY
CONNECTED WITH THE PERFORMANCE OF OR FAILURE TO PERFORM THIS PURCHASE ORDER AS SET FORTH IN SECTION 9.
SUBTOTAL 570,264.16
0.00CITY OF MENIFEE:BILL TO: TAX
FREIGHT
TOTAL
ATTN: ACCOUNTS PAYABLE (A/P)
29844 HAUN ROAD
0.00 570,264.16
MENIFEE, CA 92586
Account Number Amount Account Number Amount
E 410-4555-58087 570,264.16
RECEIVING COPY Authorized Signature
Item Title: 10.7
Agreement with Kimley-Horn and Associates, Inc. for the Garbani Road / I-215 Interchange Project, Capital Improvement Program No. 20-05
Item Page Number: 36
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August 2, 2023
Page
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potransdate PO Transaction Report
City of Menifee
Page: 1
7/11/2023 11:39:45AM
Through: 07/11/2023
PO #: 03529
Vendor #: 00840
Contract #: 2022-0105
PO Status: Partial
Vendor Name: KIMLEY-HORN AND ASSOCIATES, INC. Opening Balance:
Transaction Amt
570,264.16
BalanceDate Trans Type Ref# Description Acct#
8/4/2021
1/1/2022
1/14/2022
2/28/2022
2/28/2022
3/11/2022
4/1/2022
4/20/2022
5/1/2022
5/20/2022
6/30/2022
6/30/2022
6/30/2022
6/30/2022
7/1/2022
7/15/2022
8/12/2022
9/1/2022
9/23/2022
po 03529
20318338
51352
20477378
20709272
51885
20941311
52348
PROFESSIONAL SERVICES AGREEMEN
NOV'21 CIP 20-05 GARBANI ROAD
Payment
DEC'21 CIP 20-05 GARBANI ROAD
JAN'22 CIP 20-05 GARBANI ROAD
Payment
FEB'22 GARBANI ROAD & I-215 PR
Payment
MAR'22 INITIATION DOCUMENT SER
Payment
410-4555-58087
410-4555-58087
570,264.16
-22,367.50
-22,367.50
-7,912.50
570,264.16
547,896.66
547,896.66
539,984.16
494,966.66
494,966.66
449,684.31
449,684.31
393,751.77
393,751.77
366,236.77
328,604.27
269,239.57
0.00 269,239.57
269,239.57
269,239.57
241,503.08
241,503.08
241,503.08
183,353.73
146,451.64
146,451.64
146,451.64
137,238.72
125,578.50
125,578.50
125,578.50
114,975.32
102,414.78
102,414.78
invoice
check
invoice
invoice
check
invoice
check
invoice
check
invoice
invoice
invoice
closing
opening
check
check
invoice
check
410-4555-58087
410-4555-58087 -45,017.50
-52,930.00
-45,282.35
-45,282.35
-55,932.54
-55,932.54
-27,515.00
-37,632.50
-59,364.70
-269,239.57
269,239.57
-65,147.50
-59,364.70
-27,736.49
-27,736.49
-58,149.35
-58,149.35
-36,902.09
-27,736.49
-36,902.09
-9,212.92
410-4555-58087
410-4555-5808721169433
52643
21725238 MAY'22 INITIATION DOCUMENT SER 410-4555-58087
410-4555-58087
410-4555-58087
410-4555-58087
410-4555-58087
21380575-1 APR'22 INITIATION DOCUMENT SER
21977866
03529
03529
53303
53634
22092691
54113
JUN'22 INITIATION DOCUMENT SER
PROFESSIONAL SERVICES AGREEMEN
PROFESSIONAL SERVICES AGREEMEN
Payment
Payment
JUL'22 INITIATION DOCUMENT SER
Payment
Payment
AUG'22 PRI CIRCUIT CONFIGURATI
SEPT'22 INITIATION DOCUMENT SE
JUL'22 INITIATION DOCUMENT SER
Payment
NOV'22 INITIATION DOCUMENT SER
OCT'22 INITIATION DOCUMENT SER
Payment
410-4555-58087
11/18/2022 check
11/30/2022 invoice
12/1/2022
12/2/2022
54734
22279671
22583918
03529
410-4555-58087
410-4555-58087
410-4555-58087
invoice
liq aj
12/16/2022 check 55021
1/1/2023
1/1/2023
1/6/2023
1/13/2023
3/1/2023
3/1/2023
3/10/2023
invoice
invoice
check
23266957
23053655
55295
410-4555-58087
410-4555-58087 -11,660.22
-11,660.22
-9,212.92
-10,603.18
-12,560.54
-23,163.72
check 55347 Payment
invoice
invoice
check
23979137
23735866
55979
JAN'23 CIP 20-05 PROJ INITIATI
DEC'22 CIP 20-05 PROJ INITIATI
Payment
410-4555-58087
410-4555-58087
Page: 1
Item Title: 10.7
Agreement with Kimley-Horn and Associates, Inc. for the Garbani Road / I-215 Interchange Project, Capital Improvement Program No. 20-05 Item Page Number: 37
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August 2, 2023
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potransdate PO Transaction Report
City of Menifee
Page: 2
7/11/2023 11:39:45AM
Through: 07/11/2023
3/30/2023
3/30/2023
4/4/2023
liq aj
liq aj
co
co
check
invoice
invoice
invoice
03529
03529
03529
03529
56754
JAN'23 CIP 20-05 PROJ INITIATI 410-4555-58087
410-4555-58087
410-4555-58087
410-4555-58087
-10,603.18
-12,560.54
102,414.78
102,414.78
672,678.94
102,414.78
102,414.78
672,678.94
657,303.34
87,039.18
DEC'22 CIP 20-05 PROJ INITIATI
PROFESSIONAL SERVICES AGREEMEN
PROFESSIONAL SERVICES AGREEMEN
Payment
570,264.16
-570,264.16
-1,155,903.92
570,264.16
-15,375.60
4/4/2023
4/21/2023
4/30/2023
4/30/2023
4/30/2023
095928015-02PROFESSIONAL SERVICES AGREEMEN
095928015-02FEB'23 CIP 20-05 PROJ INITIATI
095928015-02PROFESSIONAL SERVICES AGREEMEN
410-4555-58087
410-4555-58087
410-4555-58087 -570,264.16
Ending Balance: 87,039.18
Page: 2
Item Title: 10.7
Agreement with Kimley-Horn and Associates, Inc. for the Garbani Road / I-215 Interchange Project, Capital Improvement Program No. 20-05 Item Page Number: 38
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CITY OF MENIFEE
SUBJECT: Cooperative Purchase Contract with Graybar Electric Company, Inc. for Solar Streetlights for the Quail Valley Grid Area Streetlights Project, Capital Improvement Program No. 23-08
MEETING DATE: August 2, 2023
TO: Mayor and City Council
PREPARED BY: Haile Ford, Special Project Engineer
REVIEWED BY: Nick Fidler, Public Works Director
APPROVED BY: Armando G. Villa, City Manager
-------------------------------------------------------------------------------------------------------------------------------
RECOMMENDED ACTION
1. Authorize the City Manager to approve the purchase of Solar LED Streetlights through an OMNIA Partners Cooperative Purchase Contract with Graybar Electric Company, Inc. in an amount not-to-exceed $104,419.59 for the Quail Valley Grid Area Streetlights Project, Capital Improvement Program No. 23-08; and
2. Exempt the purchase from the competitive bidding process as the purchase would be made under OMNIA Partners Cooperative Purchase Contract No. EV-2370; and
3. Adopt a Budget Amendment Resolution appropriating $150,000 from CSA 86 Fund balance into the Project (Fund 460).
DISCUSSION
The Quail Valley Grid Area Streetlights Project, Capital Improvement Program (CIP) No. 23-08 would install solar powered streetlights along the Quail Valley grid area, which would include residential streets located south of San Jacinto Road, east of Mountain View Place, west of Williams Drive, and north of Sierra Drive. The Project would serve as a pilot project for the City to implement solar streetlighting in various other neighborhoods. The initial portion of the Project would install 17 solar streetlights at strategic locations within the Project area as identified in the attached Project Location Map to support the City’s Strategic Plan Goal objective to improve safety infrastructure and technology to enhance the sense of security and well-being for the City’s residents. The 17 locations were selected to complement existing streetlight corridors within the Project area and would illuminate mailbox clusters and poorly lit intersections which do not currently have existing or adequate streetlighting.
Item Title: 10.8
Cooperative Purchase Contract with Graybar Electric Company, Inc. for Solar Streetlights for the Quail Valley Grid Area Streetlights Project, Capital Improvement Program No. 23-08 Menifee Mayor and City Council
August 2, 2023
Page
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City of Menifee Staff Report
CIP 23-08 Streetlight Coop Purchase with Graybar
August 2, 2023
1 7
3 4
According to several streetlight vendors, the lead time for the procurement of solar streetlight luminaires and poles has progressively become more and more extensive and would take approximately six months to receive, once ordered. Because of this long lead time, staff researched opportunities to expedite the purchase process. The City’s Community Services Department previously utilized Graybar Electric Company, Inc. for the installation of walkway lights at Lyle Marsh Park and Nova Park using a Cooperative Purchase Contract through OMNIA Partners, a third-party cooperative purchase and procurement resource available to government agencies, to which the City is currently subscribed to as a member. Approval of this item would allow the streetlight poles and luminaries to be purchased through this Contract. Staff would administer competitive bid process for the installation of the solar streetlights and poles closer to the delivery of the purchased streetlights and poles.
STRATEGIC PLAN OBJECTIVE
Safe and Vibrant Community
FISCAL IMPACT
The total anticipated fiscal impact for the purchase of the solar streetlight luminaires and poles for the Project is $104,419.59. The installation of these streetlights would be competitively bid under a separate agreement. The total construction cost for this portion of the Project is $250,000, which would include purchase of the solar streetlights, installation services, and ancillary services such as labor compliance. In Fiscal Year (FY) 2022/2023, $100,000 was originally approved for the Project and has been carried over into FY 2023/2024. Funding to support the remaining construction cost in the amount of $150,000 has been identified in CSA 86 Fund balance in CSA 86 Fund 460, as summarized in Table 3 below. A Budget Amendment Resolution (BAR) appropriating $150,000 from CSA 86 Fund balance into the Project (Fund 460) is included for approval.
Table 2 – Existing Project Funding
Fund Project Account
Number
Available
Budget
Anticipated Cost
CSA 86 Quail Valley
Streetlights
460-4555-58155 $100,000 $250,000
Total $100,000 $250,000
Table 3 – Identified Project Funding
Account NumberFund
From To
Available
Budget
Amount
Requested
460 Fund Balance 460-4555-58155 $378,436 $150,000
Total $150,000
ATTACHMENTS
1. Project Location Map
Item Title: 10.8
Cooperative Purchase Contract with Graybar Electric Company, Inc. for Solar Streetlights for the Quail Valley Grid Area Streetlights Project, Capital Improvement Program No. 23-08 Menifee Mayor and City Council
August 2, 2023
Page
197 of 729
City of Menifee Staff Report
CIP 23-08 Streetlight Coop Purchase with Graybar
August 2, 2023
1 7
3 4
2. Quote 0243822846 from Graybar Electric Company, Inc.
3. BAR – Fund 460
Item Title: 10.8
Cooperative Purchase Contract with Graybar Electric Company, Inc. for Solar Streetlights for the Quail Valley Grid Area Streetlights Project, Capital Improvement Program No. 23-08 Menifee Mayor and City Council
August 2, 2023
Page
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Quail Valley Grid Area Streetlights (CIP 23-08)
Project Location Map
PERRIS
215
CANYON LAKE
LAKE ELSINORE
WILDOMAR
Miles
0.20 0.1
Project Site
Path: E:\Project_Specific_Maps\Engineering_PublicWorks\QuailValleyGrid_Streetlights\QuailValleyGrid_Streetlights.aprx Date: 7/11/2023 Item Title: 10.8
Cooperative Purchase Contract with Graybar Electric Company, Inc. for Solar Streetlights for the Quail Valley Grid Area Streetlights Project, Capital Improvement Program No. 23-08 Menifee Mayor and City Council
August 2, 2023
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SHEET 3
SAN JACINTO ROAD SAN JACINTO ROAD
JOHNSON LANEJOHNSON LANEJOHNSON LANE
LUCAS DRIVE
LUCAS DRIVELUCAS DRIVE
ELSINORE LANE ELSINORE LANE
LAKE DRIVE
ELSINORE LANE
LAKE DRIVELAKE DRIVE
SHEET 5
MOUNT VERNON PLACE MOUNT VERNON PLACE MOUNT VERNON PLACE
GOETZ DRIVEGOETZ DRIVE
GOETZ DRIVE
KENNEDY LANE
SHREEDER PLACE
KENNEDY LANE KENNEDY LANE
SHREEDER PLACE SHREEDER PLACE
LA BERTHA LANE LA BERTHA LANELA BERTHA LANE
CASSANDRA DRIVE CASSANDRA DRIVE CASSANDRA DRIVE
CLARA PLACECLARA PLACECLARA PLACE
LODGE DRIVE LODGE DRIVE LODGE DRIVE
NORMA DRIVE
SHEET 4 SHEET 4
SHEET 4
NORMA DRIVE
CYPRESS PLACE
NEWPORT DRIVE
NORMA DRIVE
CYPRESS PLACE CYPRESS PLACE
NEWPORT DRIVE NEWPORT DRIVE
SHEET 6
WELLES PLACE WELLES PLACE
SHEET 4
© 2023 Microsoft Corporation © 2023 Maxar ©CNES (2023) Distribution Airbus DS
MAP LEGEND CITY OF MENIFEE
CIP 23-08 Quail Valley Grid Area Streetlights
Solar Lighting Key Map
R 1
Item Title: 10.8
Cooperative Purchase Contract with Graybar Electric Company, Inc. for Solar Streetlights for the Quail Valley Grid Area Streetlights Project, Capital Improvement Program No. 23-08 Menifee Mayor and City Council
August 2, 2023
Page
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1370 VALLEY VISTA DR STE 100
DIAMOND BAR CA 91765-3921
Phone: 909-451-4300
Fax: 909-451-4699
To: CITY OF MENIFEE
29844 HAUN ROAD
MENIFEE CA 92586
Attn: Jenny Mcconville
Phone: 951-723-3782
Fax: 951-679-3843
Email: [email protected]
Date: 07/10/2023
Proj Name:
GB Quote #: 0243822846
Release Nbr:
Purchase Order Nbr:
Additional Ref#
Valid From: 07/10/2023
Valid To: 08/09/2023
Contact: Kimberly Lakin
Email: [email protected]
Proposal
We Appreciate Your Request and Take Pleasure in Responding As Follows Notes: Notes:
* OMNIA PARTNER CONTRACT# EV-2370*
* ANY DEVIATION TO THE QUOTE WILL REQUIRE A REQUOTE * MANUFACTURER RETURNS POLICY APPLIES. * ALL ITEMS
ARE SUBJECT TO PRIOR SALES * THIS QUOTATION IS BASED SOLELY ON THE PARTS AND QUANTITIES LISTED HERE * THIS
IS A SUGGESTED BILL OF MATERIAL BASED ON INFORMATION PROVIDED TO GRAYBAR ELECTRIC. THE CUSTOMER IS
RESPONSIBLE FOR ENSURING THE BILL OF MATERIALS IS CORRECT AND COMPLETE AND
MEETS THE PROJECT
REQUIREMENTS. (SPECIFICATION SHEETS AND OTHER TECH SUPPORT AVAILABLE UPON REQUEST). * Non-stocked material
is non-cancelable, non-returnable, * Non-refundable and non-exchangeable * PLEASE REFERENCE THIS QUOTE # IF YOU WOULD
LIKE TO ORDER MATERIAL.
Item Item/Type Quantity Supplier Catalog Nbr Description Price Unit Ext.Price 100 17 EA FIRST LIGHT
TECH
BFL-TM-GY-00-
HT-T3M-WW
BFL 2.375 INCH
TENON MOUNT
GREY
DUSK-DAWN
HORIZONTAL
TENON GREY
TYPE 3M 3000K
CURRENT
LEAD-TIME 10-12
WEEKS ARO
$3,289.41 1 $55,919.97
________________________________________________________________________________________________________________ This Graybar quote is based on the terms of sale in the EV2370 Master Agreement which can be found by clicking the link found at https://www.omniapartners.com/hubfs/PUBLIC%20SECTOR/Supplier%20Information/Graybar/EV2370_Graybar_MAD_2017_12_20.pdf This equipment and associated installation charges may be financed for a low monthly payment through Graybar Financial Services (subject to credit approval). For more information call 1-800-241-7408 to speak with a leasing specialist.
To learn more about Graybar, visit our website at www.graybar.com 24-Hour Emergency Phone#: 1-800-GRAYBAR
Item Title: 10.8
Cooperative Purchase Contract with Graybar Electric Company, Inc. for Solar Streetlights for the Quail Valley Grid Area Streetlights Project, Capital Improvement Program No. 23-08 Menifee Mayor and City Council
August 2, 2023
Page
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To: CITY OF MENIFEE
29844 HAUN ROAD
MENIFEE CA 92586
Attn: Jenny Mcconville
Date: 07/10/2023
Proj Name:
GB Quote #: 0243822846
Proposal
We Appreciate Your Request and Take Pleasure in Responding As Follows 200 17 EA FIRST LIGHT
TECH
106956-25-004-
P01-X
ROUND TAPERED
ALUMINUM POLE
25#MH X 7" X 4.5"
X .156"
WALL EMBED
(DIRECT BURY) 4#
MAST ARM
TENON SATIN
FINISH
CURRENT
LEAD-TIME 26
WEEKS ARO
$2,174.12 1 $36,960.04
________________________________________________________________________________________________________________ 300 1 EA INBOUND
FREIGHT
$3,138.00 1 $3,138.00
________________________________________________________________________________________________________________ Subtotal: $96,018.01
Estimated Tax: $8,401.58
(Actual tax value will be calculated at time of order placement) Total: $104,419.59
This Graybar quote is based on the terms of sale in the EV2370 Master Agreement which can be found by clicking the link found at https://www.omniapartners.com/hubfs/PUBLIC%20SECTOR/Supplier%20Information/Graybar/EV2370_Graybar_MAD_2017_12_20.pdf This equipment and associated installation charges may be financed for a low monthly payment through Graybar Financial Services (subject to credit approval). For more information call 1-800-241-7408 to speak with a leasing specialist.
To learn more about Graybar, visit our website at www.graybar.com 24-Hour Emergency Phone#: 1-800-GRAYBAR
Item Title: 10.8
Cooperative Purchase Contract with Graybar Electric Company, Inc. for Solar Streetlights for the Quail Valley Grid Area Streetlights Project, Capital Improvement Program No. 23-08 Menifee Mayor and City Council
August 2, 2023
Page
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To: CITY OF MENIFEE
29844 HAUN ROAD
MENIFEE CA 92586
Attn: Jenny Mcconville
Date: 07/10/2023
Proj Name:
GB Quote #: 0243822846
Proposal
We Appreciate Your Request and Take Pleasure in Responding As Follows Signed:___________________________________
This Graybar quote is based on the terms of sale in the EV2370 Master Agreement which can be found by clicking the link found at https://www.omniapartners.com/hubfs/PUBLIC%20SECTOR/Supplier%20Information/Graybar/EV2370_Graybar_MAD_2017_12_20.pdf This equipment and associated installation charges may be financed for a low monthly payment through Graybar Financial Services (subject to credit approval). For more information call 1-800-241-7408 to speak with a leasing specialist.
To learn more about Graybar, visit our website at www.graybar.com 24-Hour Emergency Phone#: 1-800-GRAYBAR
Item Title: 10.8
Cooperative Purchase Contract with Graybar Electric Company, Inc. for Solar Streetlights for the Quail Valley Grid Area Streetlights Project, Capital Improvement Program No. 23-08 Menifee Mayor and City Council
August 2, 2023
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RESOLUTION NO. 23-____
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MENIFEE, CALIFORNIA, AMENDING THE FISCAL YEAR 2023/24 OPERATING BUDGET
WHEREAS, the City of Menifee, California, adopted a budget for Fiscal Year 2023/24 and Fiscal Year 2024/25 with Resolution 23-1341 on June 21st, 2023; and WHEREAS, from time to time the City of Menifee receives unanticipated revenues, experiences unanticipated expenditures, and/or identifies alternative funding sources; and WHEREAS, it is in the best interest of the citizens of the City of Menifee to allocate budget resources to continue the operations of the City of Menifee; and WHEREAS, the City Council of the City of Menifee needs to amend the FY2023/24 budget as follows:
AMENDMENTS TO ADOPTED BUDGET:
CSA 86 Fund 460 Adopted FY 2023/24 Revenue Budget: $318,232
1. Record Appropriation(s):
CITY COUNCIL
MEETING DESCRIPTION ACCOUNT # AMOUNT
TOTAL: $0
Amended CSA 86 Fund 460 FY 2023/24 Revenue Budget: $318,232 CSA 86 Fund 460 Adopted FY 2023/24 Expenditure Budget: $318,233
2. Record Appropriation(s):
Amended CSA 86 Fund 460 FY 2023/24 Expenditure Budget: $468,233
CITY COUNCIL
MEETING DESCRIPTION ACCOUNT # AMOUNT
August 2, 2023 CIP 23-08: Quail Valley Grid
Area Streetlights Project 460-4555-58155 $150,000
TOTAL: $150,000
Item Title: 10.8
Cooperative Purchase Contract with Graybar Electric Company, Inc. for Solar Streetlights for the Quail Valley Grid Area Streetlights Project, Capital Improvement Program No. 23-08 Menifee Mayor and City Council
August 2, 2023
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Amending the Fiscal Year 2023/24 CSA 86 Budget
CIP 23-08: Quail Valley Grid Area Streetlights Project
2 4
7 0
8 4
3. Record Transfer of Funds:
FROM ACCOUNT # TO ACCOUNT # AMOUNT
TOTAL: $0
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF MENIFEE DOES HEREBY RESOLVE AS FOLLOWS:
The annual budget for the CSA 86 Fund 460 for the City of Menifee for FY2023/24 is hereby increased and amended to reflect unanticipated revenues and expenditures as follows:
Revenues:
$0
Amended CSA 86 Fund 460 FY2023/24 Budget $318,232
Expenditures:
CIP 23-08: Quail Valley Grid Area Streetlights Project $150,000.00 Amended CSA 86 Fund 460 FY2023/24 Budget $468,233 PASSED, APPROVED AND ADOPTED this 2nd day of August, 2023. _____________________________
Bill Zimmerman, Mayor
ATTEST: APPROVED AS TO FORM:
____________________________ ____________________________ Stephanie Roseen, Acting City Clerk Jeffrey T. Melching, City Attorney Item Title: 10.8
Cooperative Purchase Contract with Graybar Electric Company, Inc. for Solar Streetlights for the Quail Valley Grid Area Streetlights Project, Capital Improvement Program No. 23-08 Menifee Mayor and City Council
August 2, 2023
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CITY OF MENIFEE
SUBJECT: Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6
MEETING DATE: August 2, 2023
TO: Mayor and City Council
PREPARED BY: Run Chen, Senior Engineer
REVIEWED BY: Nick Fidler, Public Works Director
APPROVED BY: Armando G. Villa, City Manager
-------------------------------------------------------------------------------------------------------------------------------
RECOMMENDED ACTION
1. Accept the Right-of-Way and Flood Control Improvements for Heritage Lake Area No. 4 from Standard Pacific Homes, associated with the development of Tract Map 34406; and
2. Approve Quitclaim Deeds for the transfer of maintenance easements to Riverside County Flood Control and Water Conservation District as follows:
a. Heritage Lake Area No.4 Line A for a portion of Lot 3 of Tract 30705-1, portion of Parcel 333-180-021, Tract 34406; and
b. Heritage Lake Area No.4 Line A for a portion of Parcel 333-710-085, portion of Aqua Drive and Sunrise Drive, Tract 34406-4; and
c. Heritage Lake Area No.4 Line A for a portion of Parcel 333-761-023, Aqua Drive, Tract 34406-2; and
d. Heritage Lake Area No.4 Line B for a portion of Parcel 333-761-022, Parcel 333-751-029, 333-750-030, Collier Drive, Tract 34406-2; and
e. Heritage Lake Area No.4 Line B for a portion of Glacier Bay Drive, Tract 34406-6; and f. Heritage Lake Area No.4 Line C for a portion of Parcel 333-180-021, Tract 34406; and g. Heritage Lake Area No.4 Line C for a portion of Parcel 333-700-084, Tract 34406-4; and h. Heritage Lake Area No.4 Line C for a portion of Parcel 333-700-050, Tract 34406-5; and i. Heritage Lake Area No.4 Line D for a portion of Parcel 333-700-083, Tract 34406-4; and j. Heritage Lake Area No.4 Line Y for a portion of Parcel 333-800-038, Tract 34406-3.
DISCUSSION
Tract Maps 34406, 34406-2, 34406-3, 34406-4, 34406-5, 34406-6, collectively known as Heritage Lakes Area No. 4 by Standard Pacific Homes, is a residential subdivision of 851 lot Single-Family Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 1
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City of Menifee Staff Report
Heritage Lake Area 4 Storm Drain Easements
August 2, 2023
1 7
3 1
lots. The development is generally located south of Matthews Road and west of Briggs Road as shown on the attached Project Location Map. The Riverside County Flood Control and Water Conservation District (District) has accepted ownership of certain storm drain facilities constructed as a required condition of the development of Heritage Lake Area No. 4.
On February 1, 2005, prior to incorporation of the City, the Romoland School District, County of Riverside, the District, Valley Wide Recreation and Park District, and Menifee Development, LLC entered into a Joint Community Facilities Agreement. The Agreement established the roles and responsibilities of the various agencies regarding the construction, inspection and acceptance of the District Drainage Facilities, County Drainage Facilities, and proposed public access and recreational amenities associated with Tracts No. 34406, 34406-1 thru 34406-6. In June 2013, the Agreement was amended to add the attached Supplement No. 4 to the Agreement, which established the City as a party to the Agreement and defined several easements and parcels to be conveyed to the District for flood control facility operation and maintenance.
The existing access easements for drainage and storm drain purposes located in Tract numbers 34406, 34406-2, 34406-3, 34406-4, 34406-5, and 34006-6 were previously dedicated to the County of Riverside. These dedications were offered to, but not accepted by, the City in the final maps that were recorded in June 2017, for Tract 34406 and 34406-2, February 2019, for Tract 34406-3 and 34406-6, September 2013, for Tract 34406-4, and June 2014, for Tract 34406-5, respectively.
These easements were never formally accepted by the City from the developer and are now proposed for acceptance as the improvements have been completed and inspected. Following acceptance, portions of the rights-of-way of several parcels are proposed to be quitclaimed to the District for operations and maintenance of District Drainage Facilities.
STRATEGIC PLAN OBJECTIVE
Safe and Vibrant Community
FISCAL IMPACT
There is no fiscal impact to the City related to this item. The developer was responsible for all costs incurred in constructing the storm drain facilities. Upon acceptance of the Project, the District would be responsible for the operation and maintenance of the specific drainage facilities as identified in the attached Agreement.
ATTACHMENTS
1. Project Location Map
2. Agreement
3. Supplement No. 4
4. Quitclaim Deed - APN 333-180-021(Parcel 4386-500)
5. Quitclaim Deed - APN 333-710-085
6. Quitclaim Deed - APN 333-761-023
7. Quitclaim Deed - APNs 333-761-022, 333-751-029, 333-750-030 Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 2
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City of Menifee Staff Report
Heritage Lake Area 4 Storm Drain Easements
August 2, 2023
1 7
3 1
8. Quitclaim Deed - Glacier Bay Drive
9. Quitclaim Deed - APN 333-180-021 (Parcel 4388-501)
10. Quitclaim Deed - APN 333-700-084
11. Quitclaim Deed - APN 333-740-050
12. Quitclaim Deed - APN 333-700-083
13. Quitclaim Deed - APN 333-800-038
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 3
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1 2
3 4
5 6
7 8
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LAKE ELSINORE
PERRIS
MURRIETA
CANYON LAKE
WILDOMAR 215
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Storm Drain Lines
A
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D
Y
0 0.1 0.2
Miles
Path: E:\Project_Specific_Maps\Engineering_PublicWorks\StormDrainHeritageLakes\StormDrainHeritageLakes.aprx Date: 5/30/2023 Storm Drain Right of Way Exhibit
Tract No. 34406 Heritage Lake
1 Y 333-800-038; 333-810-047
2 A 333-180-021
3 A 333-710-085
4 A 333-761-023
5 B 333-761-022; 333-751-029; 333-750-030
6 B Glacier Bay Drive ROW
7 C 333-180-021
8 D 333-700-083
9 C 333-700-084
10 C 333-741-050
Location Line APN
Esri Community Maps Contributors, Loma Linda University, County of Riverside, California State Parks, © OpenStreetMap, Microsoft, Esri, HERE, Garmin, SafeGraph, GeoTechnologies, Inc, METI/NASA, USGS, Bureau of Land Management, EPA, NPS, US Census Bureau, USDA
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 4
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Item Title: 10.9
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Item Title: 10.9
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Item Title: 10.9
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 18
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 19
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 20
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 21
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 22
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 23
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 24
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 25
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 26
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 27
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 28
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 29
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 30
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 31
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 32
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 33
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 34
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 35
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 36
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 37
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 38
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 39
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 40
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 41
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 42
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 43
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 44
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 45
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 46
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 47
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 48
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 49
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 50
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 51
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 52
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 53
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 54
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 55
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 56
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 57
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 58
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 59
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 60
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 61
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 62
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 63
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 64
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 65
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 66
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 67
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250090
Recorded at request of, and return to:
Riverside County Flood Control
and Water Conservation District
1995 Market Street
Riverside, California 92501
NO FEE (GOV. CODE 6103)
SPACE ABOVE THIS LINE FOR RECORDER'S USE
Heritage Lake Area No. 4 Line A The undersigned grantor(s) declare(s) Project No. 4-0-00386 DDT: - 0 - THE CONVEYANCE IS TO A GOVERNMENTAL TR 34406 (offsite) ENTITY OR POLITICAL SUBDIVISION R&T 11922 APN: Portion of 333-180-021
QUITCLAIM DEED
FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, the CITY OF MENIFEE, does hereby remise, release, and forever quitclaim to RIVERSIDE COUNTY FLOOD CONTROL AND WATER CONSERVATION DISTRICT, a body politic, all right, title and interest in and to the storm drain easement for flood control and drainage purposes for the construction, use, repair, reconstruction, inspection, operation and maintenance storm drain facilities, and all appurtenant works, including ingress and egress thereto, over, under and across that certain real property situated in the city of Menifee, County of Riverside, State of California, described in:
Irrevocable Offer of Dedication recorded July 31, 2013, as Instrument No. 2013-0370086, records of the Recorder's Office, Riverside County, State of California, to be referenced hereafter as RCFC Parcel 4386-500 as shown on Exhibits "A" and "B", attached for reference purposes only.
CITY OF MENIFEE:
Date: By:
BILL ZIMMERMAN, Mayor
ATTESTS:
SARAH MANWARING,
Clerk to the City of Menifee
By:
City Clerk (SEAL)
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 68
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August 2, 2023
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 69
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 70
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 71
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 72
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250090
CERTIFICATE OF ACCEPTANCE
This is to certify that the interest in real property conveyed by Quitclaim Deed, dated _______________________, from CITY OF MENIFEE ("Grantor"), to RIVERSIDE COUNTY FLOOD CONTROL AND WATER CONSERVATION DISTRICT ("Grantee"), a body politic, is hereby accepted by the undersigned officer on behalf of the Board of Supervisors of the Riverside County Flood Control and Water Conservation District pursuant t o authority conferred by Resolution No. 474 of the Board of Supervisors adopted on May 12, 1961, and the Grantee consents to the recordation thereof by its duly authorized officer.
RIVERSIDE COUNTY FLOOD CONTROL
AND WATER CONSERVATION DISTRICT
Date:________________ By: __________________________
JASON E. UHLEY
General Manager-Chief Engineer
Project: Heritage Lake Area No. 4 Line A
Project No. 4-0-00386
APN: 333-180-021
RCFC Parcel No. 4386-500
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 73
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250092
Recorded at request of, and return to:
Riverside County Flood Control
and Water Conservation District
1995 Market Street
Riverside, California 92501
NO FEE (GOV. CODE 6103)
SPACE ABOVE THIS LINE FOR RECORDER'S USE
Heritage Lake Area No. 4 Line A The undersigned grantor(s) declare(s) Project No. 4-0-00386 DDT: - 0 - THE CONVEYANCE IS TO A GOVERNMENTAL TR 34406-4 ENTITY OR POLITICAL SUBDIVISION R&T 11922 APN: Portion of 333-710-085,
Aqua Drive and Sunrise Shore Drive
QUITCLAIM DEED
FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, the CITY OF MENIFEE, does hereby remise, release, and forever quitclaim to RIVERSIDE COUNTY FLOOD CONTROL AND WATER CONSERVATION DISTRICT, a body politic, all right, title and interest in and to the storm drain easement for flood control and drainage purposes for the construction, use, repair, reconstruction, inspection, operation and maintenance storm drain facilities, and all appurtenant works, including ingress and egress thereto, over, under and across that certain real property situated in the city of Menifee, County of Riverside, State of California, described in:
Irrevocable Offer of Dedication recorded July 31, 2013, as Instrument No. 2013-0370085, records of the Recorder's Office, Riverside County, State of California, also lying within portion of Lots C, L and 218, Tract Map 34406-4 filed in Book 438 Pages 5 through 16, inclusive, of Maps, records of said County, to be referenced hereafter as RCFC Parcel 4386-501 as shown on Exhibits "A" and "B", attached for reference purposes only.
CITY OF MENIFEE:
Date: By:
BILL ZIMMERMAN, Mayor
ATTESTS:
SARAH MANWARING,
Clerk to the City of Menifee
By:
City Clerk (SEAL)
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 74
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August 2, 2023
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 75
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 76
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 77
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 78
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 79
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250092
CERTIFICATE OF ACCEPTANCE
This is to certify that the interest in real property conveyed by Quitclaim Deed, dated _______________________, from CITY OF MENIFEE ("Grantor"), to RIVERSIDE COUNTY FLOOD CONTROL AND WATER CONSERVATION DISTRICT ("Grantee"), a body politic, is hereby accepted by the undersigned officer on behalf of the Board of Supervisors of the Riverside County Flood Control and Water Conservation District pursuant t o authority conferred by Resolution No. 474 of the Board of Supervisors adopted on May 12, 1961, and the Grantee consents to the recordation thereof by its duly authorized officer.
RIVERSIDE COUNTY FLOOD CONTROL
AND WATER CONSERVATION DISTRICT
Date:________________ By: __________________________
JASON E. UHLEY
General Manager-Chief Engineer
Project: Heritage Lake Area No. 4 Line A
Project No. 4-0-00386
APN: 333-710-085, Aqua Drive and Sunrise Shore Drive
RCFC Parcel No. 4386-501
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 80
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250095
Recorded at request of, and return to:
Riverside County Flood Control
and Water Conservation District
1995 Market Street
Riverside, California 92501
NO FEE (GOV. CODE 6103)
SPACE ABOVE THIS LINE FOR RECORDER'S USE
Heritage Lake Area No. 4 Line A The undersigned grantor(s) declare(s) Project No. 4-0-00386 DDT: - 0 - THE CONVEYANCE IS TO A GOVERNMENTAL TR 34406-2 ENTITY OR POLITICAL SUBDIVISION R&T 11922 APN: Portion of 333-761-023 and Aqua Drive
QUITCLAIM DEED
FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, the CITY OF MENIFEE, does hereby remise, release, and forever quitclaim to RIVERSIDE COUNTY FLOOD CONTROL AND WATER CONSERVATION DISTRICT, a body politic, all right, title and interest in and to the storm drain easement for flood control and drainage purposes for the construction, use, repair, reconstruction, inspection, operation and maintenance storm drain facilities, and all appurtenant works, including ingress and egress thereto, over, under and across that certain real property situated in the city of Menifee, County of Riverside, State of California, described in:
Irrevocable Offer of Dedication recorded July 31, 2013, as Instrument No. 2013-0370083, records of the Recorder's Office, Riverside County, State of California, also lying within portion of Lots L and 123, Tract Map 34406-2 filed in Book 455 Pages 76 through 87, inclusive, of Maps, records of said County, to be referenced hereafter as RCFC Parcel 4386-502 as shown on Exhibits "A" and "B", attached for reference purposes only.
CITY OF MENIFEE:
Date: By:
BILL ZIMMERMAN, Mayor
ATTESTS:
SARAH MANWARING,
Clerk to the City of Menifee
By:
City Clerk (SEAL)
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 81
Menifee Mayor and City Council
August 2, 2023
Page
286 of 729
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 82
Menifee Mayor and City Council
August 2, 2023
Page
287 of 729
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 83
Menifee Mayor and City Council
August 2, 2023
Page
288 of 729
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 84
Menifee Mayor and City Council
August 2, 2023
Page
289 of 729
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 85
Menifee Mayor and City Council
August 2, 2023
Page
290 of 729
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 86
Menifee Mayor and City Council
August 2, 2023
Page
291 of 729
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 87
Menifee Mayor and City Council
August 2, 2023
Page
292 of 729
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 88
Menifee Mayor and City Council
August 2, 2023
Page
293 of 729
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 89
Menifee Mayor and City Council
August 2, 2023
Page
294 of 729
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 90
Menifee Mayor and City Council
August 2, 2023
Page
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250095
CERTIFICATE OF ACCEPTANCE
This is to certify that the interest in real property conveyed by Quitclaim Deed, dated _______________________, from CITY OF MENIFEE ("Grantor"), to RIVERSIDE COUNTY FLOOD CONTROL AND WATER CONSERVATION DISTRICT ("Grantee"), a body politic, is hereby accepted by the undersigned officer on behalf of the Board of Supervisors of the Riverside County Flood Control and Water Conservation District pursuant to authority conferred by Resolution No. 474 of the Board of Supervisors adopted on May 12, 1961, and the Grantee consents to the recordation thereof by its duly authorized officer.
RIVERSIDE COUNTY FLOOD CONTROL
AND WATER CONSERVATION DISTRICT
Date:________________ By: __________________________
JASON E. UHLEY
General Manager-Chief Engineer
Project: Heritage Lake Area No. 4 Line A
Project No. 4-0-00386
APN: 333-761-023 and Aqua Drive
RCFC Parcel No. 4386-502
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 91
Menifee Mayor and City Council
August 2, 2023
Page
296 of 729
250087
Recorded at request of, and return to:
Riverside County Flood Control
and Water Conservation District
1995 Market Street
Riverside, California 92501
NO FEE (GOV. CODE 6103)
SPACE ABOVE THIS LINE FOR RECORDER'S USE
Heritage Lake Area No. 4 Line B The undersigned grantor(s) declare(s) Project No. 4-0-00387 DDT: - 0 - THE CONVEYANCE IS TO A GOVERNMENTAL TR 34406-2 ENTITY OR POLITICAL SUBDIVISION R&T 11922 APNs: Portion of 333-761-022, 333-751-029,
333-750-030, and Collier Drive
QUITCLAIM DEED
FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, the CITY OF MENIFEE, does hereby remise, release, and forever quitclaim to RIVERSIDE COUNTY FLOOD CONTROL AND WATER CONSERVATION DISTRICT, a body politic, all right, title and interest in and to the storm drain easement for flood control and drainage purposes for the construction, use, repair, reconstruction, inspection, operation and maintenance storm drain facilities, and all appurtenant works, including ingress and egress thereto, over, under and across that certain real property situated in the city of Menifee, County of Riverside, State of California, described in:
Irrevocable Offer of Dedication recorded July 31, 2013, as Instrument No. 2013-0370084, records of the Recorder's Office, Riverside County, State of California, also lying within portion of Lots F, D, 118, 119 and 120, Tract Map 34406-2 filed in Book 455 Pages 76 through 87, inclusive, of Maps, records of said County, to be referenced hereafter as RCFC Parcel 4387-500 as shown on Exhibits "A" and "B", attached for reference purposes only.
CITY OF MENIFEE:
Date: By:
BILL ZIMMERMAN, Mayor
ATTESTS:
SARAH MANWARING,
Clerk to the City of Menifee
By:
City Clerk (SEAL)
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 92
Menifee Mayor and City Council
August 2, 2023
Page
297 of 729
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 93
Menifee Mayor and City Council
August 2, 2023
Page
298 of 729
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 94
Menifee Mayor and City Council
August 2, 2023
Page
299 of 729
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 95
Menifee Mayor and City Council
August 2, 2023
Page
300 of 729
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 96
Menifee Mayor and City Council
August 2, 2023
Page
301 of 729
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 97
Menifee Mayor and City Council
August 2, 2023
Page
302 of 729
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 98
Menifee Mayor and City Council
August 2, 2023
Page
303 of 729
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 99
Menifee Mayor and City Council
August 2, 2023
Page
304 of 729
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 100
Menifee Mayor and City Council
August 2, 2023
Page
305 of 729
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 101
Menifee Mayor and City Council
August 2, 2023
Page
306 of 729
250087
CERTIFICATE OF ACCEPTANCE
This is to certify that the interest in real property conveyed by Quitclaim Deed, dated _______________________, from CITY OF MENIFEE ("Grantor"), to RIVERSIDE COUNTY FLOOD CONTROL AND WATER CONSERVATION DISTRICT ("Grantee"), a body politic, is hereby accepted by the undersigned officer on behalf of the Board of Supervisors of the Riverside County Flood Control and Water Conservation District pursuant t o authority conferred by Resolution No. 474 of the Board of Supervisors adopted on May 12, 1961, and the Grantee consents to the recordation thereof by its duly authorized officer.
RIVERSIDE COUNTY FLOOD CONTROL
AND WATER CONSERVATION DISTRICT
Date:________________ By: __________________________
JASON E. UHLEY
General Manager-Chief Engineer
Project: Heritage Lake Area No. 4 Line B
Project No. 4-0-00387
APNs: 333-761-022, 333-751-029, 333-750-030 and Collier Drive RCFC Parcel No. 4387-500
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 102
Menifee Mayor and City Council
August 2, 2023
Page
307 of 729
250089
Recorded at request of, and return to:
Riverside County Flood Control
and Water Conservation District
1995 Market Street
Riverside, California 92501
NO FEE (GOV. CODE 6103)
SPACE ABOVE THIS LINE FOR RECORDER'S USE
Heritage Lake Area No. 4 Line B The undersigned grantor(s) declare(s) Project No. 4-0-00387 DDT: - 0 - THE CONVEYANCE IS TO A GOVERNMENTAL TR 34406-6 ENTITY OR POLITICAL SUBDIVISION R&T 11922 APN: Portion of Glacier Bay Drive
QUITCLAIM DEED
FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, the CITY OF MENIFEE, does hereby remise, release, and forever quitclaim to RIVERSIDE COUNTY FLOOD CONTROL AND WATER CONSERVATION DISTRICT, a body politic, all right, title and interest in and to the storm drain easement for flood control and drainage purposes for the construction, use, repair, reconstruction, inspection, operation and maintenance storm drain facilities, and all appurtenant works, including ingress and egress thereto, over, under and across that certain real property situated in the city of Menifee, County of Riverside, State of California, described in:
Irrevocable Offer of Dedication recorded July 31, 2013, as Instrument No. 2013-0370087, records of the Recorder's Office, Riverside County, State of California, also lying within portion of Lot D, Tract Map 34406-6 filed in Book 466 Pages 39 through 47, inclusive, of Maps, records of said County, to be referenced hereafter as RCFC Parcel 4387-501 as shown on Exhibits "A" and "B", attached for reference purposes only.
CITY OF MENIFEE:
Date: By:
BILL ZIMMERMAN, Mayor
ATTESTS:
SARAH MANWARING,
Clerk to the City of Menifee
By:
City Clerk (SEAL)
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 103
Menifee Mayor and City Council
August 2, 2023
Page
308 of 729
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 104
Menifee Mayor and City Council
August 2, 2023
Page
309 of 729
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 105
Menifee Mayor and City Council
August 2, 2023
Page
310 of 729
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 106
Menifee Mayor and City Council
August 2, 2023
Page
311 of 729
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 107
Menifee Mayor and City Council
August 2, 2023
Page
312 of 729
250089
CERTIFICATE OF ACCEPTANCE
This is to certify that the interest in real property conveyed by Quitclaim Deed, dated _______________________, from CITY OF MENIFEE ("Grantor"), to RIVERSIDE COUNTY FLOOD CONTROL AND WATER CONSERVATION DISTRICT ("Grantee"), a body politic, i s hereby accepted by the undersigned officer on behalf of the Board of Supervisors of the Riverside County Flood Control and Water Conservation District pursuant to authority conferred by Resolution No. 474 of the Board of Supervisors adopted on May 12, 1961, and the Grantee consents to the recordation thereof by its duly authorized officer.
RIVERSIDE COUNTY FLOOD CONTROL
AND WATER CONSERVATION DISTRICT
Date:________________ By: __________________________
JASON E. UHLEY
General Manager-Chief Engineer
Project: Heritage Lake Area No. 4 Line B
Project No. 4-0-00387
APN: Glacier Bay Drive
RCFC Parcel No. 4387-501
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 108
Menifee Mayor and City Council
August 2, 2023
Page
313 of 729
250091
Recorded at request of, and return to:
Riverside County Flood Control
and Water Conservation District
1995 Market Street
Riverside, California 92501
NO FEE (GOV. CODE 6103)
SPACE ABOVE THIS LINE FOR RECORDER'S USE
Heritage Lake Area No. 4 Line C The undersigned grantor(s) declare(s) Project No. 4-0-00388 DDT: - 0 - THE CONVEYANCE IS TO A GOVERNMENTAL TR 34406 (offsite) ENTITY OR POLITICAL SUBDIVISION R&T 11922 APN: Portion of 333-180-021
QUITCLAIM DEED
FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, the CITY OF MENIFEE, does hereby remise, release, and forever quitclaim to RIVERSIDE COUNTY FLOOD CONTROL AND WATER CONSERVATION DISTRICT, a body politic, all right, title and interest in and to the storm drain easement for flood control and drainage purposes for the construction, use, repair, reconstruction, inspection, operation and maintenance storm drain facilities, and all appurtenant works, including ingress and egress thereto, over, under and across that certain real property situated in the city of Menifee, County of Riverside, State of California, described in:
Irrevocable Offer of Dedication recorded July 31, 2013, as Instrument No. 2013-0370090, records of the Recorder's Office, Riverside County, State of California, to be referenced hereafter as RCFC Parcel 4388-500 as shown on Exhibits "A" and "B", attached for reference purposes only.
CITY OF MENIFEE:
Date: By:
BILL ZIMMERMAN, Mayor
ATTESTS:
SARAH MANWARING,
Clerk to the City of Menifee
By:
City Clerk (SEAL)
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 109
Menifee Mayor and City Council
August 2, 2023
Page
314 of 729
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 110
Menifee Mayor and City Council
August 2, 2023
Page
315 of 729
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 111
Menifee Mayor and City Council
August 2, 2023
Page
316 of 729
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 112
Menifee Mayor and City Council
August 2, 2023
Page
317 of 729
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 113
Menifee Mayor and City Council
August 2, 2023
Page
318 of 729
250091
CERTIFICATE OF ACCEPTANCE
This is to certify that the interest in real property conveyed by Quitclaim Deed, dated _______________________, from CITY OF MENIFEE ("Grantor"), to RIVERSIDE COUNTY FLOOD CONTROL AND WATER CONSERVATION DISTRICT ("Grantee"), a body politic, is hereby accepted by the undersigned officer on behalf of the Board of Supervisors of the Riverside County Flood Control and Water Conservation District pursuant to authority conferred by Resolution No. 474 of the Board of Supervisors adopted on May 12, 1961, and the Grantee consents to the recordation thereof by its duly authorized officer.
RIVERSIDE COUNTY FLOOD CONTROL
AND WATER CONSERVATION DISTRICT
Date:________________ By: __________________________
JASON E. UHLEY
General Manager-Chief Engineer
Project: Heritage Lake Area No. 4 Line C
Project No. 4-0-00388
APN: 333-180-021
RCFC Parcel No. 4388-500
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 114
Menifee Mayor and City Council
August 2, 2023
Page
319 of 729
250094
Recorded at request of, and return to:
Riverside County Flood Control
and Water Conservation District
1995 Market Street
Riverside, California 92501
NO FEE (GOV. CODE 6103)
SPACE ABOVE THIS LINE FOR RECORDER'S USE
Heritage Lake Area No. 4 Line C The undersigned grantor(s) declare(s) Project No. 4-0-00388 DDT: - 0 - THE CONVEYANCE IS TO A GOVERNMENTAL TR 34406-4 ENTITY OR POLITICAL SUBDIVISION R&T 11922 APN: Portion of 333-700-084
QUITCLAIM DEED
FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, the CITY OF MENIFEE, does hereby remise, release, and forever quitclaim to RIVERSIDE COUNTY FLOOD CONTROL AND WATER CONSERVATION DISTRICT, a body politic, all right, title and interest in and to the storm drain easement for flood control and drainage purposes for the construction, use, repair, reconstruction, inspection, operation and maintenance storm drain facilities, and all appurtenant works, including ingress and egress thereto, over, under and across that certain real property situated in the city of Menifee, County of Riverside, State of California, described in:
Irrevocable Offer of Dedication recorded July 31, 2013, as Instrument No. 2013-0370088, records of the Recorder's Office, Riverside County, State of California, also lying within portion of Lot 224, Tract Map 34406-4 filed in Book 438 Pages 5 through 16, inclusive, of Maps, records of said County, to be referenced hereafter as RCFC Parcel 4388-501 as shown on Exhibits "A" and "B", attached for reference purposes only.
CITY OF MENIFEE:
Date: By:
BILL ZIMMERMAN, Mayor
ATTESTS:
SARAH MANWARING,
Clerk to the City of Menifee
By:
City Clerk (SEAL)
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 115
Menifee Mayor and City Council
August 2, 2023
Page
320 of 729
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 116
Menifee Mayor and City Council
August 2, 2023
Page
321 of 729
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 117
Menifee Mayor and City Council
August 2, 2023
Page
322 of 729
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 118
Menifee Mayor and City Council
August 2, 2023
Page
323 of 729
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 119
Menifee Mayor and City Council
August 2, 2023
Page
324 of 729
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 120
Menifee Mayor and City Council
August 2, 2023
Page
325 of 729
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 121
Menifee Mayor and City Council
August 2, 2023
Page
326 of 729
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 122
Menifee Mayor and City Council
August 2, 2023
Page
327 of 729
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 123
Menifee Mayor and City Council
August 2, 2023
Page
328 of 729
250094
CERTIFICATE OF ACCEPTANCE
This is to certify that the interest in real property conveyed by Quitclaim Deed, dated _______________________, from CITY OF MENIFEE ("Grantor"), to RIVERSIDE COUNTY FLOOD CONTROL AND WATER CONSERVATION DISTRICT ("Grantee"), a body politic, i s hereby accepted by the undersigned officer on behalf of the Board of Supervisors of the Riverside County Flood Control and Water Conservation District pursuant to authority conferred by Resolution No. 474 of the Board of Supervisors adopted on May 12, 1961, and the Grantee consents to the recordation thereof by its duly authorized officer.
RIVERSIDE COUNTY FLOOD CONTROL
AND WATER CONSERVATION DISTRICT
Date:________________ By: __________________________
JASON E. UHLEY
General Manager-Chief Engineer
Project: Heritage Lake Area No. 4 Line C
Project No. 4-0-00388
APN: 333-700-084
RCFC Parcel No. 4388-501
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 124
Menifee Mayor and City Council
August 2, 2023
Page
329 of 729
250097
Recorded at request of, and return to:
Riverside County Flood Control
and Water Conservation District
1995 Market Street
Riverside, California 92501
NO FEE (GOV. CODE 6103)
SPACE ABOVE THIS LINE FOR RECORDER'S USE
Heritage Lake Area No. 4 Line C The undersigned grantor(s) declare(s) Project No. 4-0-00388 DDT: - 0 - THE CONVEYANCE IS TO A GOVERNMENTAL TR 34406-5 ENTITY OR POLITICAL SUBDIVISION R&T 11922 APN: Portion of 333-740-050
QUITCLAIM DEED
FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, the CITY OF MENIFEE, does hereby remise, release, and forever quitclaim to RIVERSIDE COUNTY FLOOD CONTROL AND WATER CONSERVATION DISTRICT, a body politic, all right, title and interest in and to the storm drain easement for flood control and drainage purposes for the construction, use, repair, reconstruction, inspection, operation and maintenance storm drain facilities, and all appurtenant works, including ingress and egress thereto, over, under and across that certain real property situated in the city of Menifee, County of Riverside, State of California, described in:
Irrevocable Offer of Dedication recorded July 31, 2013, as Instrument No. 2013-0370089, records of the Recorder's Office, Riverside County, State of California, also lying within portion of Lot 117, Tract Map 34406-5 filed in Book 441, Pages 94 through 105, inclusive, of Maps, records of said County, to be referenced hereafter as RCFC Parcel 4388-502 as shown on Exhibits "A" and "B" , attached for reference purposes only.
CITY OF MENIFEE:
Date: By:
BILL ZIMMERMAN, Mayor
ATTESTS:
SARAH MANWARING,
Clerk to the City of Menifee
By:
City Clerk (SEAL)
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 125
Menifee Mayor and City Council
August 2, 2023
Page
330 of 729
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 126
Menifee Mayor and City Council
August 2, 2023
Page
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 127
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 128
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 129
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250097
CERTIFICATE OF ACCEPTANCE
This is to certify that the interest in real property conveyed by Quitclaim Deed, dated _______________________, from CITY OF MENIFEE ("Grantor"), to RIVERSIDE COUNTY FLOOD CONTROL AND WATER CONSERVATION DISTRICT ("Grantee"), a body politic, i s hereby accepted by the undersigned officer on behalf of the Board of Supervisors of the Riverside County Flood Control and Water Conservation District pursuant to authority conferred by Resolution No. 474 of the Board of Supervisors adopted on May 12, 1961, and the Grantee consents to the recordation thereof by its duly authorized officer.
RIVERSIDE COUNTY FLOOD CONTROL
AND WATER CONSERVATION DISTRICT
Date:________________ By: __________________________
JASON E. UHLEY
General Manager-Chief Engineer
Project: Heritage Lake Area No. 4 Line C
Project No. 4-0-00388
APN: 333-740-050
RCFC Parcel No. 4388-502
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 130
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250088
Recorded at request of, and return to:
Riverside County Flood Control
and Water Conservation District
1995 Market Street
Riverside, California 92501
NO FEE (GOV. CODE 6103)
SPACE ABOVE THIS LINE FOR RECORDER'S USE
Heritage Lake Area No. 4 Line D The undersigned grantor(s) declare(s) Project No. 4-0-00383 DDT: - 0 - THE CONVEYANCE IS TO A GOVERNMENTAL TR 34406-4 ENTITY OR POLITICAL SUBDIVISION R&T 11922 APN: Portion of 333-700-083 and Far Shore Drive
QUITCLAIM DEED
FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, the CITY OF MENIFEE, does hereby remise, release, and forever quitclaim to RIVERSIDE COUNTY FLOOD CONTROL AND WATER CONSERVATION DISTRICT, a body politic, all right, title and interest in and to the storm drain easement for flood control and drainage purposes for the construction, use, repair, reconstruction, inspection, operation and maintenance storm drain facilities, and all appurtenant works, including ingress and egress thereto, over, under and across that certain real property situated in the city of Menifee, County of Riverside, State of California, described in:
Irrevocable Offer of Dedication recorded July 31, 2013, as Instrument No. 2013-0370091, records of the Recorder's Office, Riverside County, State of California, also lying within portion of Lot s F and 216 , Tract Map 34406-4 filed in Book 438, Pages 5 through 16, inclusive, of Maps, records of said County, to be referenced hereafter as RCFC Parcel 4383-500 as shown on Exhibits "A" and "B", attached for reference purposes only.
CITY OF MENIFEE:
Date: By:
BILL ZIMMERMAN, Mayor
ATTESTS:
SARAH MANWARING,
Clerk to the City of Menifee
By:
City Clerk (SEAL)
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 131
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August 2, 2023
Page
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 132
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 133
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 134
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 135
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 136
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 137
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250088
CERTIFICATE OF ACCEPTANCE
This is to certify that the interest in real property conveyed by Quitclaim Deed, dated _______________________, from CITY OF MENIFEE ("Grantor"), to RIVERSIDE COUNTY FLOOD CONTROL AND WATER CONSERVATION DISTRICT ("Grantee"), a body politic, is hereby accepted by the undersigned officer on behalf of the Board of Supervisors of the Riverside County Flood Control and Water Conservation District pursuant to authority conferred by Resolution No. 474 of the Board of Supervisors adopted on May 12, 1961, and the Grantee consents to the recordation thereof by its duly authorized officer.
RIVERSIDE COUNTY FLOOD CONTROL
AND WATER CONSERVATION DISTRICT
Date:________________ By: __________________________
JASON E. UHLEY
General Manager-Chief Engineer
Project: Heritage Lake Area No. 4 Line D
Project No. 4-0-00383
APN: 333-700-083 and Far Shore Drive
RCFC Parcel No. 4383-500
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 138
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250084
Recorded at request of, and return to:
Riverside County Flood Control
and Water Conservation District
1995 Market Street
Riverside, California 92501
NO FEE (GOV. CODE 6103)
SPACE ABOVE THIS LINE FOR RECORDER'S USE
Heritage Lake Area No. 4 Line Y The undersigned grantor(s) declare(s) Project No. 4-0-00382 DDT: - 0 - THE CONVEYANCE IS TO A GOVERNMENTAL TR 34406-3 ENTITY OR POLITICAL SUBDIVISION R&T 11922 APN: Portion of 333-800-038
QUITCLAIM DEED
FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, the CITY OF MENIFEE, does hereby remise, release, and forever quitclaim to RIVERSIDE COUNTY FLOOD CONTROL AND WATER CONSERVATION DISTRICT, a body politic, all right, title and interest in and to the storm drain easement for flood control and drainage purposes for the construction, use, repair, reconstruction, inspection, operation and maintenance storm drain facilities, and all appurtenant works, including ingress and egress thereto, over, under and across that certain real property situated in the city of Menifee, County of Riverside, State of California, described in:
Irrevocable Offer of Dedication recorded July 31, 2013, as Instrument No. 2013-0370094, records of the Recorder's Office, Riverside County, State of California, also lying within portion of Lot 190, Tract Map 34406-3 filed in Book 466, Pages 63 through 75, inclusive, of Maps, records of said County, to be referenced hereafter as RCFC Parcel 4382-500 as shown on Exhibits "A" and "B", attached for reference purposes only.
CITY OF MENIFEE:
Date: By:
BILL ZIMMERMAN, Mayor
ATTESTS:
SARAH MANWARING,
Clerk to the City of Menifee
By:
City Clerk (SEAL)
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 139
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August 2, 2023
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 140
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 141
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 142
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 143
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 144
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 145
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 146
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Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 147
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250084
CERTIFICATE OF ACCEPTANCE
This is to certify that the interest in real property conveyed by Quitclaim Deed, dated _______________________, from CITY OF MENIFEE ("Grantor"), to RIVERSIDE COUNTY FLOOD CONTROL AND WATER CONSERVATION DISTRICT ("Grantee"), a body politic, i s hereby accepted by the undersigned officer on behalf of the Board of Supervisors of the Riverside County Flood Control and Water Conservation District pursuant to authority conferred by Resolution No. 474 of the Board of Supervisors adopted on May 12, 1961, and the Grantee consents to the recordation thereof by its duly authorized officer.
RIVERSIDE COUNTY FLOOD CONTROL
AND WATER CONSERVATION DISTRICT
Date:________________ By: __________________________
JASON E. UHLEY
General Manager-Chief Engineer
Project: Heritage Lake Area No. 4 Line Y
Project No. 4-0-00382
APN: 333-800-038
RCFC Parcel No. 4382-500
Item Title: 10.9
Quitclaim Deeds for Storm Drainage Easements for Heritage Lake Area No. 4 Tract 34406, Tract 34406-2, Tract 34406-3, Tract 34406-4, Tract 34406-5, and Tract 34406-6 Item Page Number: 148
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August 2, 2023
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CITY OF MENIFEE
SUBJECT: Notice of Completion and Acceptance for the Fire Station No. 68 Interior Improvements Project, Capital Improvement
Program No. 21-03
MEETING DATE: August 2, 2023
TO: Mayor and City Council
PREPARED BY: Carlos Geronimo, Principal Engineer
REVIEWED BY: Nick Fidler, Public Works Director
APPROVED BY: Armando G. Villa, City Manager
-------------------------------------------------------------------------------------------------------------------------------
RECOMMENDED ACTION
1. Accept the improvements for the Fire Station No. 68 Interior Improvements Project, Capital Improvement Program No. 21-03; and
2. Authorize the City Clerk to file a Notice of Completion with the Riverside County Recorder’s Office.
DISCUSSION
The Fire Station No. 68 Interior Improvements Project, Capital Improvement Program (CIP) No. 21-03 is located at the intersection of Murrieta Road and Wickerd Road. The Project remodeled the existing fire facility to accommodate additional equipment and personnel, to provide modifications to meet current standards and house a future medic response team. The Project consisted of improvements which included remodeling existing bathrooms, expanding the bedroom areas to accommodate additional fire staff, and installation of ADA improvements throughout the existing facility.
On July 20, 2022, the City Council approved a total construction budget of $902,200 for the Project and authorized the City Manager to approve the construction contract with JCOS Development, Inc. in the amount of $762,000. The estimated final construction costs for the Project totaled $822,905, which is approximately $79,000 under budget. The $822,905 total included ancillary costs such as materials testing, labor compliance services, temporary housing and restroom facilities, contract change orders, and assessment of liquidated damages in the amount of $43,000 as the project was delayed approximately 54 days.
Item Title: 10.10
Notice of Completion and Acceptance for the Fire Station No. 68 Interior Improvements Project, Capital Improvement Program No. 21-03
Item Page Number: 1
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August 2, 2023
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City of Menifee Staff Report
CIP 21-03 NOC
August 2, 2023
1 7
3 7
If approved, a Notice of Completion (NOC) would be filed, which protects the City from future claims against the Project by providing proper noticing to each contractor, subcontractor, and material supplier, that the Project has been completed. The payment bond would be released upon project acceptance by the City and the performance bond would be released one year after the date of recording of the NOC. The City has not received any stop notices that would prevent said releases.
STRATEGIC PLAN OBJECTIVE
Safe and Vibrant Community
FISCAL IMPACT
There is no fiscal impact associated with the acceptance of the improvements related to the Project.
ATTACHMENTS
1. Project Location Map
2. Notice of Completion
3. Closeout Documents
Item Title: 10.10
Notice of Completion and Acceptance for the Fire Station No. 68 Interior Improvements Project, Capital Improvement Program No. 21-03
Item Page Number: 2
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August 2, 2023
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W i c k e r d R d
Okuma Rd
Hayden Rd
Murrieta Rd
LAKE ELSINORE
WILDOMAR
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d
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d
B u n d y C a n y o n R d
Murrieta Rd
S c o t t R d
Project Site
0 0.03 0.05
Miles
Path: Z:\Project_Specific_Maps\Engineering_PublicWorks\FS68_Improvements\FS68_Improvements\FS68_Improvements.aprx Date: 6/27/2022 Fire Station #68 Improvements (CIP 21-03)
Project Location Map
Item Title: 10.10
Notice of Completion and Acceptance for the Fire Station No. 68 Interior Improvements Project, Capital Improvement Program No. 21-03
Item Page Number: 3
Menifee Mayor and City Council
August 2, 2023
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Recording Requested By:
CITY OF MENIFEE
After Recording Mail To:
CITY CLERK
CITY OF MENIFEE
29844 HAUN ROAD
MENIFEE, CA 92586
Record without fee subject to Govt. Code 6103
NOTICE OF COMPLETION
(Public Works – Civil Code Sec. 9204)
FIRE STATION NO. 68 INTERIOR IMPROVEMENTS PROJECT, CIP 21-03 Notice is hereby given that:
Work of improvements on the project herein described was accepted as complete on August 2, 2023. The project improvements consist of remodeling existing bathrooms, expanding the bedroom areas to accommodate additional fire staff, and ADA improvements throughout the existing facility. The project was done in the city of Menifee, County of Riverside, State of California.
1. The full name of the Owner is: CITY OF MENIFEE
2. The full address of the Owner is: 29844 HAUN ROAD
MENIFEE, CA. 92586
3. The undersigned is a Corporate Officer of the Owner of the interest stated below in the property herein described:
Fire Station No. 68
23020 Wickerd Road
MENIFEE, CA 92584
4. The name of the contractor for such work of construction is:
JCOS Development, Inc.
8201 Orangethorpe Ave., Suite D
Buena Park, CA 90621
5. The property on which said work of improvement was completed is within the City of Menifee, County of Riverside, State of California.
STATE OF CALIFORNIA)
Ss
COUNTY OF RIVERSIDE)
I, Stephanie Roseen, hereby certify that I am the City Clerk of the City of Menifee, a municipal corporation, which is the owner of the properties described within this Notice of Completion, executed on behalf of the City; that I have read the notice and know the contents thereof and that the facts therein stated are true of my own knowledge under penalty of perjury under the laws of the state of California; that I make this verification on _________________, 20___ for and on behalf of the City.
_____________________________
Stephanie Roseen, Acting City Clerk
Item Title: 10.10
Notice of Completion and Acceptance for the Fire Station No. 68 Interior Improvements Project, Capital Improvement Program No. 21-03
Item Page Number: 4
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August 2, 2023
Page
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FIRE STATION NO. 68 IMPROVEMENTS PROJECT
CIP No. 21-03
4- 1
APPENDIX 4
CLOSE-OUT DOCUMENTS
Item Title: 10.10
Notice of Completion and Acceptance for the Fire Station No. 68 Interior Improvements Project, Capital Improvement Program No. 21-03
Item Page Number: 5
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August 2, 2023
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FIRE STATION NO. 68 IMPROVEMENTS PROJECT
CIP No. 21-03
4- 2
CONTRACTOR'S CERTIFICATION OF COMPLETION
DATE: _______
_________________
TO: City
of Menifee
29714 Haun Rd
Menifee, California 92586
FROM: _______
___________________________________________________
(Firm or Corporation)
PROJE
CT: Fire Station No.68 Improvements Project - CIP No. 21-03 This i
s to certify that I, acting as an authorized official of the above stated firm or corporation, have been properly authorized by said firm or corporation to sign the following statements pertaining to the subject contract:
1. I know,
of my own personal knowledge, and do hereby certify, that the work of the contract described above has been performed, and materials used and installed in every particular, in accordance with, and in conformity to, the contract drawings and specifications.
2. The co
ntract work is now complete in all parts and requirements, and ready for your final inspection.
3. I u nders
tand and agree that neither the determination by the Owner that the work is complete, nor the acceptance thereof by the Owner, shall operate as a bar to claim against the Contractor under the terms of the guarantee provisions of the contract documents.
Signature of Prime Contractor Signature of Prime Contractor Print name and title Print name and title
(If t
he Prime Contractor is a corporation two signatures of corporate officers are required.) JCOS Development, Inc.
Jeoung Hun Lee / President Jeoung Hun Lee / Secretary
05/08/2023
Item Title: 10.10
Notice of Completion and Acceptance for the Fire Station No. 68 Interior Improvements Project, Capital Improvement Program No. 21-03
Item Page Number: 6
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FIRE STATION NO. 68 IMPROVEMENTS PROJECT
CIP No. 21-03
4- 3
CONTRACTOR’S AFFIDAVIT OF DISPOSAL
WHEREA
S, on the ______ day of ____________________, 20______, the undersigned entered into and executed a contract with City of Menifee for Fire Station No.68 Improvements Project as particularly described in said contract and identified as CIP No. 21-03, and WHEREA
S, the specifications of said contract requires the Contractor to affirm that "all brush, trash, debris, and surplus materials resulting from this project have been disposed of in a legal manner" and that all designated recyclable materials are properly recycled in compliance with the City of Menifee Ordinances.
WHEREA
S, said contract has been completed, all surplus materials disposed of, and proof of compliance with the City of Menifee Municipal Code has been furnished.
NOW, TH
EREFORE, in consideration of the final payment by the City of Menifee to said Contractor under the terms of said contract, the undersigned Contractor, hereby certifies and affirms under penalty of perjury that all surplus materials as described in said contract have been disposed of at the following location(s):
Type of material disposed of Type of material disposed of Name of disposal site Name of disposal site
Address of disposal site Address of disposal site
Type of material disposed of Type of material disposed of Name of disposal site Name of disposal site
Address of disposal site Address of disposal site
By sign
ing and submitting this form to the City of Menifee on this ____ day of ___________, 20___, I (we) hereby certified and swear under penalty of perjury under the laws of the State of California that the aforementioned information is true and correct without omission, error or misrepresentation.
Signature of Prime Contractor Date Signature of Prime Contractor Date Print name and title Print name and title
(If the Prime Contractor is a corporation two signatures of corporate officers are required.) Jeoung Hun Lee / President Jeoung Hun Lee / Secretary
8th May 23
Riverside County Dept. of Waste Resources
14310 Frederick St., Moreno Valley, CA 92553
El Sobrante Landfill
10910 Dawson Canyon Road, Corona, CA 92883
8th May 23
05/08/2023 05/08/2023
Construction debris - drywalls & woods Construction debris - drywalls & woods Item Title: 10.10
Notice of Completion and Acceptance for the Fire Station No. 68 Interior Improvements Project, Capital Improvement Program No. 21-03
Item Page Number: 7
Menifee Mayor and City Council
August 2, 2023
Page
360 of 729
Item Title: 10.10
Notice of Completion and Acceptance for the Fire Station No. 68 Interior Improvements Project, Capital Improvement Program No. 21-03
Item Page Number: 8
Menifee Mayor and City Council
August 2, 2023
Page
361 of 729
Item Title: 10.10
Notice of Completion and Acceptance for the Fire Station No. 68 Interior Improvements Project, Capital Improvement Program No. 21-03
Item Page Number: 9
Menifee Mayor and City Council
August 2, 2023
Page
362 of 729
Item Title: 10.10
Notice of Completion and Acceptance for the Fire Station No. 68 Interior Improvements Project, Capital Improvement Program No. 21-03
Item Page Number: 10
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August 2, 2023
Page
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4- 5
Signature of Prime Contractor Date Signature of Prime Contractor Date Print name and title Print name and title
(If t
he Prime Contractor is a corporation two signatures of corporate officers are required.) Jeoung Hun Lee / President Jeoung Hun Lee / Secretary
FIRE STATION NO. 68 IMPROVEMENTS PROJECT
CIP No. 21-03
CONTRACTOR’S AFFIDAVIT OF PAYMENT
To All Whom It May Concern:
WHEREAS, the undersigned has been contracted by the City of Menifee to furnish labor and materials for Fire Station No.68 Improvements Project - CIP No. 21-03, under a contract dated the ______day of _____July___________, 20 22___, in the City of Menifee, Count y of San Diego, State of California, of which City of Menifee is the Owner.
NOW, THEREFORE, this _________ day of _________________ __, 20___ the undersigned, as the Contractor for the above-named Contract pursuant to the Conditions of the Contract hereby certifies that, except as listed below, he has paid in full or has otherwise satisfied all obligations for all materials and equipment furnished, for all work, labor, and services performed, and for all known indebtedness and claims against the Contractor for damages arising in any manner in connection with the performance of the Contract referenced above for which t
he Owner or his property might in anyway be held responsible.
EXCEPTIONS: (If none, write "None". If required by the Owner, the Contractor shall furnish bond satisfactory to the Owner for each exception.) None
20th
8th May 23
05/08/2023 05/08/2023
Item Title: 10.10
Notice of Completion and Acceptance for the Fire Station No. 68 Interior Improvements Project, Capital Improvement Program No. 21-03
Item Page Number: 11
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FIRE STATION NO. 68 IMPROVEMENTS PROJECT
CIP No. 21-03
4- 6
GUARANTEE AGREEMENT
We hereb
y guarantee that Fire Station No.68 Improvements Project - CIP No. 21-03 , has been installed in accordance with the drawings and specifications and that the work as installed will fulfill the requirements included in the specifications. The undersigned agrees to promptly repair or replace, in a manner satisfactory to the Engineer, any or all of such work, together with any other adjacent work which may be displaced in connection with such repair or replacement, that may prove to be defective in workmanship or material within a period of one (1) year from the date of acceptance of the above referenced project by City of Menifee, ordinary wear and tear and unusual abuse or neglect excepted.
The C
ontractor also agrees to indemnify and hold City of Menifee harmless from claims of any kind arising from damage due to said defects in the work constructed under the Contract.
In th
e event that the undersigned fails to comply with the abovementioned conditions within a reasonable period of time, as determined by City of Menifee, the undersigned hereby authorizes the City of Menifee to proceed with the repair of said defects and the Contractor and his/her surety shall be liable to the City of Menifee for the cost thereof.
Firm name Address
Signature of Prime Contractor or Sub-Contractor Signature of Prime Contractor or Sub-Contractor Print name and title Print name and title
Countersigned (required by Prime Contractor if this Guarantee Agreement is for a Sub- Contractor):
Firm name Address
Signature of Prime Contractor Signature of Prime Contractor Print name and title Print name and title
Contact for Service:
Name
Address
Telephone number and email address
JCOS Development, Inc. 8201 Orangethorpe Ave., Ste D, Buena Park, CA 90621 Jeoung Hun Lee / President Jeoung Hun Lee / Secretary
Jeoung Hun Lee
8201 Orangethorpe Ave., Ste D, Buena Park, CA 90621
714-251-3023 / [email protected]
Item Title: 10.10
Notice of Completion and Acceptance for the Fire Station No. 68 Interior Improvements Project, Capital Improvement Program No. 21-03
Item Page Number: 12
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August 2, 2023
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CITY OF MENIFEE
SUBJECT: Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by
Sutter Mitland 01, LLC
MEETING DATE: August 2, 2023
TO: Mayor and City Council
PREPARED BY: Chet Robinson, Senior Engineer
REVIEWED BY: Nick Fidler, Public Works Director / City Engineer APPROVED BY: Armando G. Villa, City Manager
-------------------------------------------------------------------------------------------------------------------------------
RECOMMENDED ACTION
1. Accept the public improvements for streets, drainage, water, sewer and survey monuments for Tract Map 36485-5, Audie Murphy Ranch, located to the east of Goetz Road and south of Audie Murphy Road North; and
2. Authorize the City Engineer to release posted securities per the City’s Standard Policies.
DISCUSSION
Sutter Mitland 01, LLC, is the developer of Audie Murphy Ranch (AMR) Tract 36485-5, a subdivision of 21.66 gross acres into 51 lots for residential purposes. The Tract is located east of Goetz Road and south of Audie Murphy Road North, as depicted in the attached Project Location Map. As part of the development’s requirements, Sutter Mitland 01, LLC, constructed streets, drainage, water and sewer system improvements and installed survey monuments.
Sutter Mitland 01, LLC, has now completed construction of these facilities and is requesting acceptance of the completed improvements into the City’s maintenance system. Staff inspected the completed improvements, determined that the improvements have been constructed in accordance with City specifications and standards, and verified that all project conditions of approval have been met to reduce the faithful performance security and release labor and materials security in accordance with City policy. A 10% warranty security would be held for a period of one year in accordance with the City Municipal Code. The original posted securities for the improvements and survey monuments are listed in Table 1 and Table 2 on the following page.
Item Title: 10.11
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by Sutter Mitland 01, LLC
Item Page Number: 1
Menifee Mayor and City Council
August 2, 2023
Page
366 of 729
City of Menifee Staff Report
Acceptance of Public Improvements Tract Map 36485-5
August 2, 2023
1 7
2 4
Table 1 - Original Posted Security Improvements
Improvement Security No.
Performance / Material
Faithful
Performance
Material and
Labor
Streets/Drainage 30044932 $ 1,538,000 $ 769,000
Water System 30044932 $ 319,000 $ 159,500
Sewer System 30044932 $ 322,500 $ 161,250
Total $ 2,179,500 $ 1,089,750
Table 2 - Original Posted Security Monument Improvements Improvement Security No. Monument Bond
Survey Monuments BDTO500002019 $ 44,640
Total $ 44,640
STRATEGIC PLAN OBJECTIVE
Safe and Vibrant Community
FISCAL IMPACT
There is no fiscal impact associated with the recommended action. The developer has paid all necessary fees and deposits to cover the costs of the required inspection of the completed improvements. Ongoing maintenance costs for the improvements will be supported through approved Fiscal Year 2023/2024 operating budgets in Community Facilities District (CFD) 2012-
1. ATTACHMENTS
1. Project Location Map
2. Agreement – Streets and Drainage
3. Agreement – Water System
4. Agreement – Sewer System
5. Bond - Improvements
6. Agreement – Monuments
7. Bond – Monuments
Item Title: 10.11
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by Sutter Mitland 01, LLC
Item Page Number: 2
Menifee Mayor and City Council
August 2, 2023
Page
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1 MONTGOMERY
BRIDLEGATE
WAY
WAY
AUDIE
MURPHY
ROAD (N)
RESERVE
COURT
PROUD
LAND
DRIVE
2 3 4 5 6 8 9 10 11 12 13 14 15 16
29 1718192021222324252627283031
32 33
34 35
36 37 38
39 40
41 42 4543 44 5146 47 48 49 50
52 (O.S.)
53 (O.S.)
Drawing: R:\\261373\\Exhibit\\Tract Map\\373 - EXH - 36485-5 Site Map.dwg Layout: p 11x17 L Saved: 4/1/2019 3:37 PM Plotted: 4/1/2019 3:40 PM Plot Scale: 1:1 By: Kyle McQuilkin 0 SCALE: 1"=200'
200 400 600
EXHIBIT A
TRACT NO. 36485-5
Engineering, Inc.
357 N. SHERIDAN STREET
ENGINEERINGSURVEYING
SUITE 117
CORONA, CALIFORNIA 92880
TEL. (951) 279-1800
FAX (951) 279-4380
TR. 36485-5
NEWPORT RD.
RAILROADCANYON RD.
CANYON
LAKE DR.
GOETZ RD.
MURRIETA RD.
VICINITY MAP
INTERSTATE
15 INTERSTATE
215
\A1;S.P. 209
N.T.S.
SECTION 6, T6S, R3W
THOMAS GUIDE PAGE 867
PROJECT SITE
TR. 36485-5
PROJECT MAP
Item Title: 10.11
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by Sutter Mitland 01, LLC Item Page Number: 3
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August 2, 2023
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Item Title: 10.11
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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August 2, 2023
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Item Title: 10.11
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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August 2, 2023
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Item Title: 10.11
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Item Title: 10.11
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Item Title: 10.11
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Item Title: 10.11
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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August 2, 2023
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Item Title: 10.11
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Item Title: 10.11
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Item Title: 10.11
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Item Title: 10.11
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Item Title: 10.11
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Item Title: 10.11
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Item Title: 10.11
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Item Title: 10.11
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Item Title: 10.11
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Item Title: 10.11
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Item Title: 10.11
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Item Title: 10.11
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Item Title: 10.11
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Item Title: 10.11
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Item Title: 10.11
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Item Title: 10.11
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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August 2, 2023
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Item Title: 10.11
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-5, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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August 2, 2023
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CITY OF MENIFEE
SUBJECT: Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-10, Audie Murphy Ranch, by Sutter Mitland 01, LLC
MEETING DATE: August 2, 2023
TO: Mayor and City Council
PREPARED BY: Chet Robinson, Senior Engineer
REVIEWED BY: Nick Fidler, Public Works Director / City Engineer APPROVED BY: Armando G. Villa, City Manager
-------------------------------------------------------------------------------------------------------------------------------
RECOMMENDED ACTION
1. Accept the public improvements for streets, drainage, water, recycled water, sewer and survey monuments for Tract Map 36485-10, Audie Murphy Ranch, located north of Normandy Road and west of Audie Murphy Road North; and
2. Authorize the City Engineer to release posted securities per the City’s Standard Policies.
DISCUSSION
Sutter Mitland 01, LLC is the developer of Audie Murphy Ranch (AMR) Tract 36485-10, a subdivision of 13.32 gross acres into 43 lots for residential purposes. The Tract is located north of Normandy Road and west of Audie Murphy Road North, as depicted in the attached Project Location Map. As part of the development’s requirements, Sutter Mitland 01, LLC, constructed streets, drainage, water, recycled water and sewer system improvements and installed survey monuments.
Sutter Mitland 01, LLC has now completed construction of these facilities and is requesting acceptance of the completed improvements into the City’s maintenance system. Staff has inspected the completed improvements, determined that the improvements have been constructed in accordance with City specifications and standards, and verified that all project conditions of approval have been met to reduce the faithful performance security and release labor and materials security in accordance with City policy. A 10% warranty security would be held for a period of one year in accordance with the City Municipal Code. The original posted securities for the improvements and the monuments are listed in Table 1 and Table 2 on the following page.
Item Title: 10.12
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-10, Audie Murphy Ranch, by Sutter Mitland 01, LLC
Item Page Number: 1
Menifee Mayor and City Council
August 2, 2023
Page
408 of 729
City of Menifee Staff Report
Acceptance of Public Improvements for Tract Map 36485-10 August 2, 2023
1 7
2 5
Table 1 - Original Posted Security Improvements
Improvement Security No.
Performance / Material
Faithful
Performance
Material and
Labor
Streets/Drainage 30027002 $ 1,322,500 $ 661,250
Water System 30027002 $ 351,000 $ 175,500
Recycle Water System 30027002 $ 34,500 $ 17,250 Sewer System 30027002 $ 364,000 $ 182,000
Total $ 2,072,000 $ 1,036,000
Table 2 - Original Posted Security Monument Improvements Improvement Security No. Monument Bond
Survey Monuments 30027005 $ 50,040
Total $ 50,040
STRATEGIC PLAN OBJECTIVE
Safe and Vibrant Community
FISCAL IMPACT
There is no fiscal impact associated with the recommended action. The developer has paid all necessary fees and deposits to cover the costs of the required inspection of the completed improvements. Ongoing maintenance costs for the improvements will be supported through approved Fiscal Year 2023/2024 operating budgets in Community Facilities District (CFD) 2012-
1. ATTACHMENTS
1. Project Map
2. Agreement – Streets and Drainage
3. Agreement – Water System
4. Agreement – Recycled Water System
5. Agreement – Sewer System
6. Bond - Improvements
7. Agreement – Monuments
8. Bond – Monuments
Item Title: 10.12
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-10, Audie Murphy Ranch, by Sutter Mitland 01, LLC
Item Page Number: 2
Menifee Mayor and City Council
August 2, 2023
Page
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PROJECT MAP
NORMANDY ROAD
Item Title: 10.12
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-10, Audie Murphy Ranch, by Sutter Mitland 01, LLC Item Page Number: 3
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August 2, 2023
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Item Title: 10.12
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-10, Audie Murphy Ranch, by Sutter Mitland 01, LLC
Item Page Number: 4
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August 2, 2023
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Item Title: 10.12
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-10, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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August 2, 2023
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Item Title: 10.12
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-10, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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August 2, 2023
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Item Title: 10.12
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-10, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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August 2, 2023
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Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-10, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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August 2, 2023
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Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-10, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-10, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-10, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-10, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-10, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Item Title: 10.12
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-10, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Item Title: 10.12
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-10, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-10, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-10, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Item Title: 10.12
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-10, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Item Title: 10.12
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-10, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Item Title: 10.12
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-10, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-10, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-10, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-10, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-10, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-10, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-10, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-10, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-10, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-10, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-10, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-10, Audie Murphy Ranch, by Sutter Mitland 01, LLC
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Item Title: 10.12
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-10, Audie Murphy Ranch, by Sutter Mitland 01, LLC
Item Page Number: 42
Menifee Mayor and City Council
August 2, 2023
Page
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Item Title: 10.12
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-10, Audie Murphy Ranch, by Sutter Mitland 01, LLC
Item Page Number: 43
Menifee Mayor and City Council
August 2, 2023
Page
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Item Title: 10.12
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-10, Audie Murphy Ranch, by Sutter Mitland 01, LLC
Item Page Number: 44
Menifee Mayor and City Council
August 2, 2023
Page
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Item Title: 10.12
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-10, Audie Murphy Ranch, by Sutter Mitland 01, LLC
Item Page Number: 45
Menifee Mayor and City Council
August 2, 2023
Page
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Item Title: 10.12
Acceptance of Public Improvements and 90% Release of Security for Tract Map 36485-10, Audie Murphy Ranch, by Sutter Mitland 01, LLC
Item Page Number: 46
Menifee Mayor and City Council
August 2, 2023
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CITY OF MENIFEE
SUBJECT: Muni Code Amendment, Title 8, Buildings and Construction Code
MEETING DATE: August 2, 2023
TO: Mayor and City Council
PREPARED BY: Laura Sportelli, Management Analyst
REVIEWED BY: Cheryl Kitzerow, Community Development Director APPROVED BY: Armando G. Villa, City Manager
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RECOMMENDED ACTION
1.Introduce an Ordinance amending Title 8 of the Menifee Municipal Code to modify appendices included in Sections 8.04.010, 8.05.010, 8.12.010, and 8.16.010 of the 2022 California Building Standards Code (CBSC).
DISCUSSION
The City Council adopted the 2022 California Building Standards Code (CBSC) provisions on November 16, 2022, and the adopted code was submitted to the California Department of General Services for review.
On April 12, 2023, the Department of General Services returned the adoption with comments to include missing findings for certain appendices within Sections 8.04.010, 8.05.010, 8.12.010, and
8.16.010.
Upon subsequent review of the findings to support the adopted appendices, staff has determined that several of the appendices were adopted in error, as they were not environmentally or geographically relevant, or they duplicated existing code and were determined redundant.
Therefore, and in compliance with the California Department of General Services, the proposed code Amendment will replace Sections 8.04.010, 8.05.010, 8.12.010, and 8.16.010 in their entirety as reflected in Exhibit A of the proposed Ordinance.
A comprehensive comparison of the sections included in Ordinance 2022-364, as adopted, and the proposed ordinance are illustrated in the following table:
Item Title: 11.1
Ordinance Introduction Amending Municipal Code, Title 8, Buildings and Construction Code Item Page Number: 1
Menifee Mayor and City Council
August 2, 2023
Page
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City of Menifee Staff Report
Buildings and Construction Code
August 2, 2023
8 6
6 TABLE 1: Ordinance Comparison
SECTION APPROVED ORDINANCE PROPOSED AMENDED
ORDINANCE
§8.04.010
ADOPTION BY
REFERENCE
Includes Chapters 1 through
35, tables, indices, addenda,
footnotes, and appendices A
through P.
Includes Chapters 1 through 35,
tables, indices, addenda, footnotes,
and appendices E, I, J, K, L, and P,
but not including appendices A, B, C,
D, F, G, H, M, N, and O.
§8.05.010
ADOPTION OF
THE CALIFORNIA
RESIDENTIAL
CODE.
Includes Chapters 1 through
44, tables, indices, addenda,
footnotes, and appendices AA
through AZ.
Includes Chapters 1 through 44,
tables, indices, addenda, footnotes,
and appendices AA through AZ, but
not including appendices AF, AI, AJ,
AK, AL, AO, AR, AT, AU, and AV.
§8.12.010
ADOPTION OF
MECHANICAL
CODE.
Includes Chapters 1 through
17, tables, indices, addenda,
footnotes, and appendices A
through G.
Includes Chapters 1 through 17,
tables, indices, addenda, footnotes,
and appendices A, B, C, and D but
not including appendices E-G.
§8.16.010
ADOPTION OF
PLUMBING CODE.
Includes Chapters 1 through
17, tables, indices, addenda,
footnotes, and appendices A
through M.
Includes Chapters 1 through 17,
tables, indices, addenda, footnotes,
and appendices A, B, D, H, I, and J,
but not including appendices C, E-G,
K-L.
STRATEGIC PLAN OBJECTIVE
Safe and Vibrant Community
FISCAL IMPACT
There is no additional fiscal impact resulting from the adoption of the proposed Ordinance.
ATTACHMENTS
1. Redline Version of Municipal Code Sections
2. Ordinance 2023-
Item Title: 11.1
Ordinance Introduction Amending Municipal Code, Title 8, Buildings and Construction Code Item Page Number: 2
Menifee Mayor and City Council
August 2, 2023
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EXHIBIT A
TITLE 8: BUILDINGS AND CONSTRUCTION
CHAPTER 8.04: BUILDING CODE
8.04.010 Adoption by reference
§8.04.010 ADOPTION BY REFERENCE
Except as hereinafter changed or modified, the 2022 California Building Code as published by the State Building Standards Commission, including all of its chapters (including Chapters 1 through 35), tables, indices, addenda, footnotes, and appendices (including appendices A E, I, J, K, L, and through P), are hereby adopted by reference as the Menifee Building Code and incorporated into this title. A copy of the 2022 California Building Code, including the above- designated appendices, shall be on file in the office of the City Clerk.
CHAPTER 8.05: RESIDENTIAL CODE
8.05.010 Adoption of the California Residential Code
§8.05.010 ADOPTION OF THE CALIFORNIA RESIDENTIAL CODE.
(A)Except as hereinafter modified or changed, the 2022 California Residential Code published by the State Building Standards Commission, including all of its chapters (including Chapters 1 through 44), tables, indices, addenda, footnotes, and appendices (including appendices AA through AZ, but not appendices AF, AI, AJ, AK, AL, AO, AR, AT, AU, and AV), is hereby adopted by reference as the Menifee Residential Code and incorporated into this title. (B)A copy of the 2022 California Residential Code shall be on file in the office of the City Clerk.
CHAPTER 8.12: MECHANICAL CODE
8.12.010 Adoption of Mechanical Code
§8.12.010 ADOPTION OF MECHANICAL CODE.
(A) Except as hereinafter changed or modified, the 2022 California Mechanical Code as published by the State Building Standards Commission, including all of its chapters (including Chapters 1 through 17), tables, indices, addenda, footnotes, and appendices (including appendices A, B, C, and D through G), are hereby adopted by reference as the Menifee Mechanical Code and incorporated into this title.
A copy of the 2022 California Mechanical Code, including the above-designated appendix, shall be on file in the office of the City Clerk.
Item Title: 11.1
Ordinance Introduction Amending Municipal Code, Title 8, Buildings and Construction Code Item Page Number: 3
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August 2, 2023
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9 5
CHAPTER 8.16: PLUMBING CODE
8.16.010 Adoption of Plumbing Code
§8.16.010 ADOPTION OF PLUMBING CODE.
Except as hereinafter changed or modified, the 2022 California Plumbing Code as published by the State Building Standards Commission, including all of its chapters (including Chapters 1 through 17), tables, indices, addenda, footnotes, and appendices (including appendices A, B, D, H, I, and J through M), are hereby adopted by reference as the Menifee Plumbing Code and incorporated into this title.
A copy of the 2022 California Plumbing Code, including the above-designated appendices, shall be on file in the office of the City Clerk.
Item Title: 11.1
Ordinance Introduction Amending Municipal Code, Title 8, Buildings and Construction Code Item Page Number: 4
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August 2, 2023
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ORDINANCE NO. 2023-
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF MENIFEE, CALIFORNIA AMENDING SECTIONS 8.04.010, 8.05.010, 8.12.010, AND 8.16.010 TO CLARIFY THE APPENDICES ADOPTED OF THE
MENIFEE MUNICIPAL CODE
WHEREAS, the California Building Standards Commission has adopted and published the 2022 California Building Standards Code (“CBSC”), codified in Title 24 of the California Code of Regulations; and
WHEREAS, the 2022 CBSC contains, among other parts, the California Building Code (Title 24, Part 2), California Residential Code (Title 24, Part 2.5), California Electrical Code (Title 24, Part 3), California Mechanical Code (Title 24, Part 4), California Plumbing Code (Title 24, Part 5), California Fire Code (Title 24, Part 9), and California Green Building Standards Code [“CALGreen Code”] (Title 24, Part 11); and
WHEREAS, on November 16, 2022, the City Council of the City of Menifee adopted the 2022 CBSC provisions; and
WHEREAS, the City submitted its adopted code to the California Department of General Services to review the City’s adoption of the 2022 CBSC, but returned the adoption with comments; and
WHEREAS, City staff has reviewed the comments from the Department of General Services and instituted the changes required by the state; and WHEREAS, this Ordinance seeks to update the City’s prior adoption to comply with state requirements.
NOW, THEREFORE, the City Council of the City of Menifee does hereby ordain as follows:
SECTION 1. Recitals. The recitals above are true and correct and are incorporated herein in full.
SECTION 2. Code Amendments. Sections 8.04.010, 8.05.010, 8.12.010, and 8.16.010 of the Menifee Development Code are replaced in their entirety as described by Exhibit “A” attached hereto.
SECTION 3. References to Prior Code. Unless superseded and expressly repealed, references in the City forms, documents, and regulations to the chapters and sections of the former City’s Building and Construction Code, Title 8 of the Menifee Municipal Code, shall be construed to apply to the corresponding provisions contained in this Ordinance of the City of Menifee and all other ordinances or parts or ordinances in conflict herewith are hereby superseded and expressly repealed.
SECTION 4. Severability and Validity. If any section, subsection, paragraph, or sentence of this Ordinance, or any part thereof, is for any reason found to be unconstitutional, invalid, or beyond the authority of the City of Menifee by a court of competent jurisdiction, such decision shall not affect the validity or effectiveness of the remaining portions of this Ordinance.
Item Title: 11.1
Ordinance Introduction Amending Municipal Code, Title 8, Buildings and Construction Code Item Page Number: 5
Menifee Mayor and City Council
August 2, 2023
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This Ordinance was introduced on the ____ day of July 2023 and APPROVED AND ADOPTED on the ____ day of August 2023.
Bill Zimmerman, Mayor
ATTEST:
Sarah Manwaring,
City Clerk
APPROVED AS TO FORM:
Jeffrey T. Melching, City Attorney
Item Title: 11.1
Ordinance Introduction Amending Municipal Code, Title 8, Buildings and Construction Code Item Page Number: 6
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August 2, 2023
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EXHIBIT A
TITLE 8: BUILDINGS AND CONSTRUCTION
CHAPTER 8.04: BUILDING CODE
8.04.010 Adoption by reference
§8.04.010 ADOPTION BY REFERENCE
Except as hereinafter changed or modified, the 2022 California Building Code as published by the State Building Standards Commission, including all of its chapters (including Chapters 1 through 35), tables, indices, addenda, footnotes, and appendices (including appendices E, I, J, K, L, and P), are hereby adopted by reference as the Menifee Building Code and incorporated into this title. A copy of the 2022 California Building Code, including the above-designated appendices, shall be on file in the office of the City Clerk.
CHAPTER 8.05: RESIDENTIAL CODE
8.05.010 Adoption of the California Residential Code
§8.05.010 ADOPTION OF THE CALIFORNIA RESIDENTIAL CODE.
(A)Except as hereinafter modified or changed, the 2022 California Residential Code published by the State Building Standards Commission, including all of its chapters (including Chapters 1 through 44), tables, indices, addenda, footnotes, and appendices (including appendices AA through AZ, but not including appendices AF, AI, AJ, AK, AL, AO, AR, AT, AU, and AV), is hereby adopted by reference as the Menifee Residential Code and incorporated into this title.
(B)A copy of the 2022 California Residential Code shall be on file in the office of the City Clerk.
CHAPTER 8.12: MECHANICAL CODE
8.12.010 Adoption of Mechanical Code
§8.12.010 ADOPTION OF MECHANICAL CODE.
(A) Except as hereinafter changed or modified, the 2022 California Mechanical Code as published by the State Building Standards Commission, including all of its chapters (including Chapters 1 through 17), tables, indices, addenda, footnotes, and appendices (including appendices A, B, C, and, D), are hereby adopted by reference as the Menifee Mechanical Code and incorporated into this title.
A copy of the 2022 California Mechanical Code, including the above-designated appendix, shall Item Title: 11.1
Ordinance Introduction Amending Municipal Code, Title 8, Buildings and Construction Code Item Page Number: 7
Menifee Mayor and City Council
August 2, 2023
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be on file in the office of the City Clerk.
CHAPTER 8.16: PLUMBING CODE
8.16.010 Adoption of Plumbing Code
§8.16.010 ADOPTION OF PLUMBING CODE.
Except as hereinafter changed or modified, the 2022 California Plumbing Code as published by the State Building Standards Commission, including all of its chapters (including Chapters 1 through 17), tables, indices, addenda, footnotes, and appendices (including appendices A, B, D, H, I, and J), are hereby adopted by reference as the Menifee Plumbing Code and incorporated into this title.
A copy of the 2022 California Plumbing Code, including the above-designated appendices, shall be on file in the office of the City Clerk.
Item Title: 11.1
Ordinance Introduction Amending Municipal Code, Title 8, Buildings and Construction Code Item Page Number: 8
Menifee Mayor and City Council
August 2, 2023
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CITY OF MENIFEE
SUBJECT: Conduct Public Hearing and Adopt a Resolution Confirming Special Assessments for Delinquent Weed Abatement
Accounts
MEETING DATE: August 2, 2023
TO: Mayor and City Council
PREPARED BY: David Gutierrez, Police Captain
REVIEWED BY: Pat Walsh, Police Chief
APPROVED BY: Armando G. Villa, City Manager
-------------------------------------------------------------------------------------------------------------------------------
RECOMMENDED ACTION
1. Conduct the Public Hearing to accept public testimony regarding Delinquent Collection Accounts for Weed Abatement to be applied to the Fiscal Year 2023/24 County of Riverside property Tax Roll for collection; and
2. Adopt a Resolution confirming special assessments and authorizing collection of delinquent weed abatement accounts on the annual property tax roll.
DISCUSSION
Working with the Finance Department, Code Enforcement has notified 128 property owners regarding delinquent weed abatement accounts. This notification was mailed on July 3, 2023, informing the property owners of the scheduled public hearing on August 2, 2023, in City Hall Council Chambers. These delinquent accounts are from property owners who were found to be in violation of Riverside County Ordinance No. 695, as adopted by the City of Menifee, to remove hazardous vegetation from their property. Upon initial calculation, there was $129,005.41 of delinquent weed abatement accounts cumulating from July 2011 to September 2022. After public notice, $6,931.74 was collected from taxpayers and the new collectible balance stands at $122,073.67.
Each year in early spring, the City’s Code Enforcement Unit identifies vacant parcels within the City’s boundaries and sends each landowner written notification that they are required by Municipal Code to abate their property of hazardous vegetation. This letter informs the owner(s) they have approximately 30-days to comply with the notification. At the expiration of the notice, Code Enforcement Officers will begin to inspect these properties to verify if they are in compliance.
If the property is out of compliance, Code Enforcement will send a Failure to Comply Letter and Item Title: 11.2
Conduct Public Hearing and Adopt a Resolution Confirming Special Assessments for Delinquent Weed Abatement Accounts
Menifee Mayor and City Council
August 2, 2023
Page
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City of Menifee Staff Report
Public Hearing for Delinquent Weed Abatement Charges
August 2, 2023
1 7
1 7
issue a $100 Administrative Citation to the landowner giving them 14-days to comply with the stated ordinance. At the expiration of the Failure to Comply Letter, Code Enforcement will re- inspect the vacant parcel. If the property is still found to be out of compliance, a $200.00 Administrative Citation is issued, and Code Enforcement will schedule to have the property abated at the owner’s expense and place a Notice of Pendency on the parcel.
Staff is recommending City Council conduct a Public Hearing to take public comment from landowners of delinquent weed abatement accounts. At the conclusion of the public hearing, staff recommends City Council approve a resolution authorizing staff to process cost recovery actions with Riverside County’s Auditor-Controller’s office, by levying special assessments on property tax bills for the 2023/2024 Fiscal Tax Year for the outstanding weed abatement charges.
All delinquent accounts were individually noticed by letter and the public hearing was properly noticed in the Press Enterprise ten days prior to the public hearing date. A list of the delinquent accounts that are subject to the cost recovery is available at City Hall for review.
STRATEGIC PLAN OBJECTIVE
Safe and Vibrant Community
FISCAL IMPACT
This special assessment found that the City had the right to recover approximately $129,005.41 of delinquent Weed Abatement charges and staff time. With payments made since the public notice, the current amount collectible is $122,073.67. The City initially paid for the cost of the abatement and staff time and can only recover those costs once the parcel owner pays the outstanding weed abatement costs.
ATTACHMENTS
1. Resolution
2. Exhibit A - Delinquency List
Item Title: 11.2
Conduct Public Hearing and Adopt a Resolution Confirming Special Assessments for Delinquent Weed Abatement Accounts
Menifee Mayor and City Council
August 2, 2023
Page
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RESOLUTION NO. 23-______
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MENIFEE,
CALIFORNIA ORDERING THE CONFIRMATION OF SPECIAL
ASSESSMENTS AND LIENS AGAINST PARCELS OF LAND FOR
UNPAID AND DELINQUENT CHARGES FOR WEED ABATEMENT
WHEREAS, Riverside County Ordinance No. 695, as adopted by the City Council of the City Menifee through Ordinance Nos. 2009-66 and 2013-123, requires all unimproved parcels to be free of hazardous vegetation and establishes a procedure for the assessment of such properties for the costs in having the removal accomplished by the City or its contractors; and, WHEREAS, the City of Menifee’s Finance and Code Enforcement Departments have been unsuccessful in collect outstanding delinquent weed abatement accounts; and, WHEREAS, the City of Menifee seeks to collect the delinquent weed abatement charges by means of the County Auditor-Controller’s office; and WHEREAS, the charges placed upon the parcels are the actual cost of abating the individual parcels plus an Administrative Fee of $126.00 and staff time; and WHEREAS, such property owners have had the opportunity to appeal the citations and abatement through the procedure established in Section 6 of Ordinance No. 695; and, WHEREAS the property owners have been notified of the delinquent weed abatement charges; and
WHEREAS, the billing for those parcels listed on the attached Exhibit “A” remains unpaid.
NOW, THEREFORE, the City Council of the City of Menifee does resolve and order as follows:
1. Pursuant to Section 7 of Riverside County Ordinance No. 695, adopted by the City of Menifee, after notice to the property owner, the City may cause the removal of hazardous vegetation by its forces or those of a subcontractor and recover the cost of the same, as well as reasonable administrative charges, through imposition as a special assessment on the property.
2. The list of parcels upon which the unpaid delinquent weed abatement accounts as shown on Exhibit “A” is hereby confirmed and that henceforth, said delinquent charges shall constitute special assessments against the respective parcels of land, and are liens on said lands in the amount of the respective assessments, as authorized by Section7 of Ordinance No. 695. In addition, the surcharge as allowed by Riverside County Ordinance No. 695 shall take effect when the lien is applied to the property tax bill.
3. That the charges are in compliance with all laws pertaining to the levy of the assessment and that the charge is levied without regard to property valuation.
Item Title: 11.2
Conduct Public Hearing and Adopt a Resolution Confirming Special Assessments for Delinquent Weed Abatement Accounts
Menifee Mayor and City Council
August 2, 2023
Page
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Resolution No. 23-
Delinquent Weed Abatement Charges
2 4. That a certified copy of this Resolution and the attached Exhibit “A” shall be transmitted to the Auditor-Controller of Riverside County on or before August 10, 2023, who shall enter the amounts as assessments against the respective parcels of land as they appear on the current assessment roll. Said assessments shall be collected at the same time and in the same manner as ordinary municipal ad valorem taxes as provided by Section 8(A) of Ordinance No. 695.
PASSED, APPROVED AND ADOPTED this 2nd day of August, 2023. _____________________________
Bill Zimmerman, Mayor
Attest:
____________________________
Stephanie Roseen, Acting City Clerk
Approved as to form:
______________________________
Jeffrey T. Melching, City Attorney
Item Title: 11.2
Conduct Public Hearing and Adopt a Resolution Confirming Special Assessments for Delinquent Weed Abatement Accounts
Menifee Mayor and City Council
August 2, 2023
Page
465 of 729
APN CASE NUMBERS (ALL START WITH "CE") STAFF
TIME
ABATEMENT
FEES
TOTAL
AMOUNT
OWED
OWNER NAME MAILING ADDRESS CITY, STATE, ZIP
350-201-032 17-1487 83.52$ 288.00$ 371.52$ MITRA KANAANI 3226 MILLIKIN AVE SAN DIEGO CA 92122-2934 351-117-007 19-1657; 20-1328 211.59$ 288.00$ 499.59$ AGAHI FARBOD 6221 SPECTRUM IRVINE CA 92618-3397 350-192-021 13-1118 27.84$ 936.85$ 964.69$ AGHASSI HAMID MIRZA/AGHASSI MINOO M 1147 PINE ST OUTH PASADENA CA 91030-4361 350-285-013 13-0533 83.52$ 288.00$ 371.52$ AGUILAR CARLOS A/AGUILAR MARIA G 28455 MOUNTAIN VIEW PL CANYON LAKE, CA 92587-8998 350-091-013 17-1678; 18-1392; 19-1617; 20-1032; 21-0428 828.53$ 576.00$ 1,404.53$ AGUILERA RAFAEL/FIGUEROA GILBERT 8602 OAKTHORN CIR RIVERSIDE CA 92508-3108 337-222-025 12-1299;12-1539;13-1059;14-0428;15-0643;17-1420;18-1254;19-2016;21-0595;22-0689 1,518.99$ 2,143.00$ 3,661.99$ ALLEN FRANCIS SHERMAN 206 DOUGLAS DR WAVERLY MN 55390-5583 350-112-050 17-1538; 22-0658 167.04$ 689.00$ 856.04$ ALONZO PEDRO ALEXANDER 6515 SPRINGFIELD ST SAN DIEGO CA 92114-1525 329-132-014 14-0722; 18-1126 488.88$ 288.00$ 776.88$ ANDRY SUSAN 9893 CEDAR CT CYPRESS CA 90630-3831 329-132-015 14-0723; 18-1127 415.38$ 288.00$ 703.38$ ANDRY SUSAN 9893 CEDAR CT CYPRESS CA 90630-3831 350-211-019 13-0734; 15-0751; 17-1461; 19-1883 564.60$ 576.00$ 1,140.60$ ARANA JOSE TOMAS/ARANA MARINA 42936 MAYBERRY AVE HEMET CA 92544-6591 341-094-011 20-0982; 21-0492; 22-0561 267.26$ 401.00$ 668.26$ BENIAMINO MELLONI; SUSANA MELLONI; ADELFO MELLONI 13711 CALLE DE LOS PINOS LAKE ELSINORE, CA 92530 351-102-009 17-1298; 20-1288; 21-0379 217.15$ 288.00$ 505.15$ CAMARILLO CESAR 9369 EVERGREEN LN FONTANA CA 92335-6101 350-252-015 13-0651; 15-0624; 20-1184 389.76$ 288.00$ 677.76$ CAMPOS MARIA 34558 AGONIS WAY WINCHESTER CA 92596-8791 350-252-014 13-0652; 15-0625; 20-1183 482.19$ 548.97$ 1,031.16$ CAMPOS MARIA 34558 AGONIS WAY WINCHESTER CA 92596-8791 350-172-017 17-1699; 18-1434; 19-1762; 20-1122; 21-0963; 22-0576 653.70$ 1,290.00$ 1,943.70$ CAROTHERS LINN MAYROSE/CAROTHERS VENETA ESTEL 32764 RIDGE TOP LN CASTAIC, CA 91384-3082 351-191-005 15-0878; 16-0593; 18-1208 832.98$ 293.00$ 1,125.98$ CARRILLO REYNALDO J/CARRILLO LYNDA M 3402 COSBEY AVE BALDWIN PARK CA 91706-3719 350-134-004 17-1696; 18-1641; 20-1092 174.84$ 288.00$ 462.84$ CASTAGNA JOHN 17372 RAINIER DR SANTA ANA, CA 92705-1831 350-285-016 13-0535 167.04$ 584.00$ 751.04$ CERVANTES MARIA ISABEL H 23605 CYPRESS PL MENIFEE CA 92587-9729 333-091-010 12-1651; 18-1211; 19-2101; 19-2101 1,189.35$ 419.00$ 1,608.35$ COCHRAN SAMANTHA CHRISTINE PO BOX 160 CHOUTEAU OK 74337-0160 351-122-012 17-1120; 19-1668; 20-1348; 22-0590 331.86$ 714.00$ 1,045.86$ DE LA TORRE EDDIE/BRUNER MICHELLE 20940 OLEANDER AVE PERRIS CA 92570-6690 350-111-045 17-1590 184.86$ 288.00$ 472.86$ DEJESUS RAMON/DEJESUS BASILIO 411 S CABRILLO AVE SAN PEDRO, CA 90731-2419 350-231-035 15-0707; 17-1320 334.08$ 288.00$ 622.08$ DINH SUN QUANG 38961 CHERRY POINT LN MURRIETA CA 92563-8814 333-131-013 19-2126; 22-0640 368.61$ 326.00$ 694.61$ DONALD BLAIR 4723 N BONNIE COVE AVE COVINA, CA 91724 350-252-005 17-1305 27.84$ 288.00$ 315.84$ DUARTE RAFAEL/DUARTE ENEDINA 17051 ROTTERDAM LN HUNTINGTON BEACH CA 92647-6022 350-082-008 14-0466; 17-1635; 18-1381; 19-1613; 20-1029; 21-0442; 22-0580 991.12$ 293.00$ 1,284.12$ DUCHSCHERER JOSEPH JOHN/DUCHSCHERER EDWARD CLARENCE 1120 OAKWOOD DR OAKLAND OR 97462-9840 350-232-016 22-0654 111.36$ 426.00$ 537.36$ EFRAIN NAVARRETE 3443 VANCOUVER AVE SAN DIEGO, CA 92104 337-221-006 12-1540; 13-1058; 14-0427; 15-0642; 18-1252; 19-2564 840.78$ 827.00$ 1,667.78$ ESHAGHIAN MASSOUD J & GEORGE M/ESHAGHIAN AVERELL E & CLAUDE D 2765 ELLISON DR BEVERLY HILLS CA 90210-1207 350-112-020 22-0625 111.36$ 176.00$ 287.36$ EVELYN LORAINE LUPIAN PADILLA 130 IBIZA LN HEMET, CA 92543 351-193-047 19-1726; 20-1372 136.98$ 326.00$ 462.98$ FARAGLLA MAIKEL 9002 GOTHIC AVE NORTH HILLS, CA 91343 350-202-042 17-1575; 20-1143 211.59$ 288.00$ 499.59$ FELIX HIPOLITO/FELIX EVA 23849 MOUNT VERNON PL QUAIL CALLEY, CA 92587-9138 351-193-048 19-1727; 20-1373 404.25$ 288.00$ 692.25$ FENN PATSY L 16918 BLUE MIST CIR SUGAR LAND, TX 77498 350-231-002 17-1369; 20-1172 55.68$ 288.00$ 343.68$ FJAERAN RANDI PO BOX 1097 CARLSBAD, CA 92018-1097 350-133-019 17-1704 55.68$ 288.00$ 343.68$ FOGERSON RYAN T 3511 WASATCH DR REDDING, CA 96001-2979 350-231-001 17-1368; 18-1546; 19-1452 220.50$ 288.00$ 508.50$ FOX LAWRENCE C/FOX CLETA LA RENE PO BOX 4606 CARLSBAD CA 92018-4606 351-193-001 17-1144; 19-1679; 20-1361 220.50$ 288.00$ 508.50$ GABORAS DOREL 1528 SUNNY CREST DR FULLERTON CA 92835-3753 351-193-062 17-1233; 18-1236 701.58$ 1,642.00$ 2,343.58$ GARTRELL BOYKIN W/GARTRELL RUTH S 232 W DARROW ST LAVEEN AZ 85339-2637 351-122-013 17-1121; 19-1669; 20-1349; 22-0591 395.34$ 614.00$ 1,009.34$ GAUDETTE CAROL A 9834 LONGDEN AVE TEMPLE CITY CA 91780-1424 341-121-007 19-1494; 20-0999; 22-0557 502.26$ 288.00$ 790.26$ GEORGE W. SCANLON; JEANNE A. SCANLON 1750 WALNUT RD SP 11 LAS VEGAS, NV 89110 341-122-010 12-1544; 13-1017 55.68$ 293.00$ 348.68$ GLENN JUSTUS 36902 MOONBROOK LN MURRIETA CA 92563-2799 351-084-007 22-0583 72.38$ 426.00$ 498.38$ GLORIA REYES; JOSE REYES 4223 GANDALE LN JURUPA CALLEY, CA 92509 331-040-040 13-0562; 14-0519 315.15$ 710.50$ 1,025.65$ GONZALEZ EDGARDO A/GONZALEZ HILDA E 26633 HULL ST MENIFEE CA 92585-9340 350-111-040 19-1691 266.16$ 288.00$ 554.16$ GRANT BRIAN 3226 KATHY WAY LOOMIS, CA 95650 350-111-041 19-1692 283.98$ 288.00$ 571.98$ GRANT BRIAN 3226 KATHY WAY LOOMIS, CA 95650 336-060-018 17-1328; 19-3393 395.34$ 826.00$ 1,221.34$ GUNKEL PHILIP M 22925 N CANYON LAKE DR CANYON LAKE, CA 92587 337-202-012 14-0426; 15-0644; 16-0642; 17-1197; 18-1251; 20-1524; 21-0596; 22-0691 1,191.57$ 2,587.00$ 3,778.57$ HARLOW, PILAR ROSA 1668 OLMEDA ST ENCINITAS CA 92024-4831 350-241-019 19-1951 304.03$ 288.00$ 592.03$ HARO GENARO MAGALLANES 116 N SHERIDAN ST CORONA, CA 92882 350-212-015 13-0732 55.68$ 288.00$ 343.68$ HAYLOCK SHANE ROBERT/EDWARDS CHANAE JOI 1809 S SYCAMORE AVE LOS ANGELES CA 90019-5326 350-101-045 19-1627; 20-1051 302.91$ 288.00$ 590.91$ HELTON JACKSON 33102 LIME ST LAKE ELSINORE, CA 92530 350-233-015 19-1948; 20-1177; 22-0652 277.29$ 401.00$ 678.29$ HERNANDEZ JOSE J NERI 24276 FIR AVE MORENO VALLEY, CA 92553 350-243-001 17-1314; 19-1953; 20-1181; 22-0651 471.02$ 977.00$ 1,448.02$ HUGHES JOYCE ALISON 324 EL CALLE JON SANTA MARIA CA 93454-4719 350-231-047 14-0646; 15-0702; 19-1911; 20-1175 590.22$ 288.00$ 878.22$ IBRAHIM LOUAY & TAREK/IBRAHIM BAASSAM 1501 7TH ST #A RIVERSIDE CA 92507-4447 350-213-007 15-0749; 17-1394; 18-1522; 19-1896; 20-1150 635.88$ 288.00$ 923.88$ JACKSON JAMES S 574 N ARMEL DR COVINA CA 91722-3710 350-111-018 13-0600; 17-1509; 22-0618 278.40$ 526.00$ 804.40$ JAMES A. LATHROP 4165 3/4 VERDUGO RD LOS ANGELES, CA 90065 350-233-037 13-0990; 16-0469; 19-1949; 22-0635 521.17$ 739.00$ 1,260.17$ JAMES A. LATHROP 4165 3/4 VERDUGO RD LOS ANGELES, CA 90065 341-133-010 15-0550; 18-1338; 19-1517; 20-1003 903.15$ 1,485.70$ 2,388.85$ JAMES A. LATHROP 4165 3/4 VERDUGO RD LOS ANGELES, CA 90065 350-233-016 15-0696; 16-0488; 18-1568; 20-1178; 22-0653 768.39$ 426.00$ 1,194.39$ JAMES A. LATHROP 4165 3/4 VERDUGO RD LOS ANGELES, CA 90065 341-133-016 17-1821; 18-1340; 19-1518; 20-1004; 21-0495 782.88$ 581.00$ 1,363.88$ JAMES A. LATHROP 4165 3/4 VERDUGO RD LOS ANGELES, CA 90065 341-122-018 12-1503; 17-1826; 181325; 19-1497; 20-1000; 21-0486; 22-0556 1,162.29$ 1,280.00$ 2,442.29$ JAMES A. LATHROP 4165 3/4 VERDUGO RD LOS ANGELES, CA 90065 350-221-029 13-0744 55.68$ 150.00$ 205.68$ JARA FERMIN/JARA ISABEL 358 SANTO DR SAN JACINTO CA 92583-4718 341-071-019 17-1680; 18-1562; 19-1467; 20-0968; 21-0455; 22-0562 740.56$ 927.00$ 1,667.56$ JIMENEZ JOEL 204 E WARNER AVE #106 SANTA ANA, CA 92707-3277 351-102-034 19-2720; 20-1292; 22-0700 524.51$ 564.00$ 1,088.51$ JOAQUIN L. SILVA 11036 SKY COUNTRY DR MIRA LOMA, CA 91752 350-222-030 13-0723 55.68$ 288.00$ 343.68$ JOHNSON BURLEY RAY/JOHNSON DOROTHY ELIZABETH 1732 W DESERT SPRING WAY QUEEN CREEK AZ 85142-3339 350-222-028 15-0972; 16-0518; 18-1541; 19-1437; 20-1164; 22-0682 1,134.78$ 1,032.00$ 2,166.78$ JOHNSON BURLEY RAY/JOHNSON DOROTHY ELIZABETH 1732 W DESERT SPRING WAY QUEEN CREEK AZ 85142-3339 341-040-037 17-1602; 19-1464 247.23$ 408.00$ 655.23$ JONES DOUGLAS C/JONES TERRENCE B 899 TAMARISK RD PALM SPRINGS CA 92262-5735 341-040-036 17-1603; 20-0959 165.93$ 288.00$ 453.93$ JONES DOUGLAS C/JONES TERRENCE B 899 TAMARISK RD PALM SPRINGS CA 92262-5735 350-223-006 15-0734; 17-1387; 19-1441; 20-1168 573.51$ 288.00$ 861.51$ JONES FRANCES ETHLYN 22427 NEEDLES ST CHATSWORTH CA 91311-2654 350-223-005 17-1386; 19-1440; 20-1167 221.61$ 288.00$ 509.61$ JONES FRANCES ETHLYN 22427 NEEDLES ST CHATSWORTH, CA 91311-2654 Item Title: 11.2
Conduct Public Hearing and Adopt a Resolution Confirming Special Assessments for Delinquent Weed Abatement Accounts Menifee Mayor and City Council
August 2, 2023
Page
466 of 729
350-111-012 12-1646; 13-0596; 17-1506; 19-1688; 20-1061; 21-0466 556.81$ 561.00$ 1,117.81$ LEE GERALD L 214 COOPER LOOP HAMILTON MT 59840-9718 350-173-005 17-1685; 19-1765; 22-0573 459.93$ 1,042.00$ 1,501.93$ LEONHARD SYLVESTER A/LEONHARD BETTY 623 MOUNTAIN ESTATES DR PRIEST LAKE ID 83856-6806 330-240-045 14-0520; 15-0576; 16-0535; 17-1087; 18-1169; 18-1553; 20-0880 1,522.31$ 288.00$ 1,810.31$ LIRA SANDRA A 211 NUTMEG CT HERCULES CA 94547 330-240-044 15-0575; 16-0536; 17-1088; 18-1168; 20-0879 1,428.77$ 576.00$ 2,004.77$ LIRA SANDRA A 211 NUTMEG CT HERCULES, CA 94547 330-240-046 15-0577; 16-0534; 17-1086; 18-1170; 19-1315; 20-0881 1,655.96$ 864.00$ 2,519.96$ LIRA SANDRA A 211 NUTMEG CT HERCULES CA 94547 330-240-043 16-0537; 17-1089; 18-1167; 20-0878 726.08$ 288.00$ 1,014.08$ LIRA SANDRA A 211 NUTMEG CT HERCULES CA 94547 384-100-006 17-1422 139.20$ 523.00$ 662.20$ LUKER MICHAEL A & CHRISTINE D 34266 QUINTESSA CT TEMECULA CA 92592-5567 336-155-023 13-1091; 17-1331 320.72$ 826.00$ 1,146.72$ LUSARDI WARNER C 1570 LINDA VISTA DR SAN MARCOS CA 92078-3808 335-040-023 11-0981; 13-0508; 15-0547; 17-1031; 18-1248; 19-1872; 22-0602 851.92$ 372.00$ 1,223.92$ LY OANH 12561 RED HILL AVE TUSTIN, CA 92780-2832 350-113-016 13-0627; 15-0866; 15-0867; 16-0574; 17-1542; 18-1626; 19-1702; 21-0496; 22-0660 1,229.43$ 902.00$ 2,131.43$ MALER GEORGIA ROSE/MALER JERRY VICTOR PO BOX 3366 PALM DESERT CA 92261-3366 350-072-003 20-1019; 21-0447; 22-0564 356.35$ 501.00$ 857.35$ MARCOS SANTIAGO RUIZ 1317 PULS ST OCEANSIDE, CA92058 350-184-003 13-0808; 17-1808; 18-1441; 20-1127; 22-0588 554.58$ 1,328.00$ 1,882.58$ MARTINEZ ADOLFO R/MARTINEZ REBECCA E 2024 S GRANDRIDGE AVE MONTEREY PARK CA 91754-6427 350-251-006 13-0903; 15-0663 306.24$ 288.00$ 594.24$ MARTINEZ LUIS/MARTINEZ ROSA 215 SILVER ST LAKE ELSINORE CA 92530-3324 350-211-020 17-1462; 19-1885; 20-1146 275.07$ 288.00$ 563.07$ MAYFIELD JOHN THOMAS PO BOX 582584 ELK GROVE, CA 95758-0044 362-120-002 12-1492 8.91$ 3,092.00$ 3,100.91$ MCROBERTS LLOYD MARVIN/MCROBERTS MARLENE 1030 VIA VERA CRUZ SAN MARCOS CA 92078-1383 350-213-009 17-1396; 18-1524; 19-1899; 20-1152 458.82$ 288.00$ 746.82$ MILLER ERIC JUSTIN 28039 SCOTT RD #D450 MURRIETA, CA 92563-7479 341-133-031 12-1534; 13-1023 55.68$ 288.00$ 343.68$ MOLLOY FRANCIS J 8401 YORKTOWN AVE HUNTINGTON BEACH CA 92646-3138 350-191-034 13-0794 55.68$ 500.50$ 556.18$ MORALES ANDRES/MORALES ROSALIA 21855 SHERI LN WILDOMAR CA 92595-8204 329-110-024 18-1124 546.79$ 503.00$ 1,049.79$ MOTTE JOHN V/MOTTE EVELYN E 445 S D ST PERRIS, CA 92570-2134 351-032-011 19-1504 164.82$ 288.00$ 452.82$ OKWUDIBONYE CHRIS N/SMITH DONNA M 8801 THORPE AVE WESTMINSTER, CA 92683 350-215-011 19-1434 275.07$ 288.00$ 563.07$ OLIVARES ARTURO 13742 TEMPLE AVE LA PUENTE, CA 91746 350-122-023 17-1809; 18-1634; 20-1077 285.09$ 576.00$ 861.09$ OPPERMAN SANFORD PO BOX 592 PLACENTIA CA 92871-0592 350-182-003 13-0802; 17-1681; 18-1440; 19-3474; 20-1126 395.34$ 288.00$ 683.34$ PADRON RODOLFO 1401 E SANTO ANTONIO DR #424 COLTON, CA 92324-4251 351-123-001 18-1192; 19-1673; 20-1353 292.89$ 288.00$ 580.89$ PARADISE HERMAN/PARADISE NORA 9583 HARVEST VISTA DR RANCHO CUCAMONGA, CA 91730 351-122-002 22-0597 72.38$ 426.00$ 498.38$ PEREZ PABLO/PEREZ ELIZA D 1427 BLACKSTONE AVE CHULA VISTA CA 91915-1648 350-111-044 16-0580; 19-1693; 20-1067; 22-0630 610.88$ 664.00$ 1,274.88$ PORRAS CANDY A 487 F ST #25 CHULA VISTA CA 91910-3781 336-076-010 17-1329 287.31$ 298.00$ 585.31$ PULIDO MARIA ELENA 291 CORAL HILLS RD PERRIS, CA 92570-2134 341-072-008 13-1001 55.68$ 682.28$ 737.96$ REYES JESUS/REYES GUADALUPE 29277 COPPER RIDGE RD QUAIL VALLEY CA 92587-7264 341-102-012 13-1033 83.52$ 365.50$ 449.02$ REYES MANUEL S PO BOX 2977 SUN CITY CA 92586-8977 337-223-006 18-1255; 19-2017; 21-0678; 22-0690 706.05$ 714.00$ 1,420.05$ RICHARD COUNTS 2052 NEWPORT BLV NO 6 COSTA MESA, CA 92627 350-223-034 13-0704; 14-0642; 15-0729; 19-1449 571.29$ 288.00$ 859.29$ RICO SALVADOR/RICO ANGELINA ESQUIVEL 14351 CEDARWOOD ST WESTMINSTER CA 92683-4471 350-153-010 18-1653; 19-1745 282.87$ 288.00$ 570.87$ ROBERTS KORY RAY 42801 LARRY LEE LN TEMECULA, CA 92592 351-102-013 17-1295 55.68$ 288.00$ 343.68$ ROSE BRAIN 241 KINGS VILLAGE RD SCOTTS VALLEY CA 95067-4099 331-030-003 17-1464 259.47$ 408.00$ 667.47$ RUSSO CHRISTOPHER N/RUSSO KRISTI M 28750 PRAIRIE FALCON CT MURRIETA, CA 92563-7919 333-131-010 19-2124; 20-0950; 22-0641 837.45$ 276.00$ 1,113.45$ SARAH STEGALL P O BOX 172 SUN CITY, CA 92586 350-082-034 17-1640; 18-1383; 19-1614 874.20$ 576.00$ 1,450.20$ SAYAH MURAD/SAYAH MARVIN 2185 E AMANDA ST SAN BERNARDINO, CA 92404-6104 331-040-004 14-0502; 15-0582; 17-1006; 19-1325 1,394.25$ 1,046.00$ 2,440.25$ SHIN STEVE 1021 W POPPY HILLS CT LA HABRA CA 90631-2041 362-120-065 12-1515 8.91$ 3,312.00$ 3,320.91$ SNYDER WILLIAM CHARLES PO BOX 2126 SUN CITY CA 92586 351-118-001 17-1182; 19-1658 238.32$ 576.00$ 814.32$ SOLANO SANDRA MORENO 2610 EUCLID AVE SAN DIEGO, CA 92105-4806 350-113-012 17-1540; 19-1701 201.57$ 576.00$ 777.57$ SPLAWN ARVILLA/SIEBER TERRY M 1223 KELLY RD BELLINGHAM WA 98226-9778 351-032-012 19-1505 155.91$ 288.00$ 443.91$ SULLENGER STEPHEN L/SULLENGER DEBORAH G 34781 TEABERRY PL MURRIETA, CA 92563 329-172-031 17-1179; 18-1141; 20-0828; 21-0716 755.03$ 288.00$ 1,043.03$ SULTAN MOUFID 27219 AVENIDA DEL DIABLO TEMECULA, CA 92590-3331 351-042-007 17-1292 55.68$ 288.00$ 343.68$ SWEIS SAMIR S & FADIA M 6324 LORCA DR SAN DIEGO, CA 92115 351-123-002 19-1674; 20-1354 237.21$ 288.00$ 525.21$ TAGUE RICHARD J/TAGUE MARJORIE K 23149 BIGGS LN CANYON LAKE, CA 92587 333-141-036 19-2131 533.43$ 288.00$ 821.43$ TAVAKE SETH 28693 AURIGA CT SUN CITY, CA 92586 341-103-007 20-0991; 21-0477; 22-0554 142.54$ 401.00$ 543.54$ THOMAS B. KISH 1558 LOMA ALTA SAN MARCOS, CA 92069 360-320-010 20-1303; 22-0559 83.52$ 501.00$ 584.52$ TIMOTHY DAVID SPANGLER 28039 SCOTT RD STE D-169 MURRIETA, CA 92563 333-040-015 13-1248; 18-1200; 19-2096 894.24$ 1,671.00$ 2,565.24$ TOMA MIRVAT H/GAD ELSEED ADEL W 1264 DIANA CT UPLAND CA 91786-2503 350-231-016 13-0706; 17-1367 167.04$ 288.00$ 455.04$ TRAN HA THU 1036 TABBY LN ESCONDIDO CA 92026-3187 341-190-055 19-1574; 20-1020; 21-0390 406.48$ 488.00$ 894.48$ TRIEN CAO NGUYEN/MYLINH THI NGO 4330 E HILLSBOROUGH AVE ORANGE, CA 92867 339-200-008 20-0995; 21-0669; 22-0693 526.74$ 1,126.00$ 1,652.74$ VALENTIN VALENCIA GONZALEZ/MONICA FAJARDO TORRES 660 W BROADWAY #107 ANAHEIM, CA 92805 350-231-032 17-1323 45.66$ 288.00$ 333.66$ VEGA JULIE ANN 4854 MONTAGUE AVE OAKLEY, CA 94561 350-251-003 17-1310 83.52$ 288.00$ 371.52$ VOLOMINO GERALD JOSEPH 26642 VIA NOVENO MISSION VIEJO CA 92691-1552 350-261-010 15-0651; 17-1307; 18-1592; 19-1973 451.02$ 864.00$ 1,315.02$ WALLACE HOWARD ALAN 41763 IVY ST MURRIETA, CA 92562-9408 350-261-009 13-0669; 15-0650; 17-1306; 18-1591; 19-1972 664.83$ 1,631.80$ 2,296.63$ WALLACE HOWARD ALAN 41763 IVY ST MURRIETA, CA 92562-9408 350-122-040 18-1636 173.73$ 288.00$ 461.73$ WHALEY GERI 1080 TROPICANA WAY, LA HABRA, CA 90631-3365 350-052-005 18-1365; 22-0581 471.06$ 689.00$ 1,160.06$ WOLLER JEFFREY A & SHERI M/HAMMES DAN J PO BOX 1313 JULIAN CA 92036-1313 350-172-024 17-1688 64.59$ 288.00$ 352.59$ WOODWARD SCOTT/WOODWARD SARAH 25091 CORN FIELD CT MENIFEE CA 92584-8561 350-112-051 17-15374; 19-1699; 22-0657 395.34$ 1,027.00$ 1,422.34$ ZAHID YAZDANIE 14731 COMET ST IRVINE CA 92604-2403 350-112-022 13-0604; 17-1592; 19-1695 735.00$ 576.00$ 1,311.00$ ZARBAF MOHAMMAD R PO BOX 18026 IRVINE CA 92623-8026 TOTALS 54,828.31$ 74,177.10$ 129,005.41$
Item Title: 11.2
Conduct Public Hearing and Adopt a Resolution Confirming Special Assessments for Delinquent Weed Abatement Accounts Menifee Mayor and City Council
August 2, 2023
Page
467 of 729
CITY OF MENIFEE
SUBJECT: Comprehensive Citywide Signage and Wayfinding Program Package
MEETING DATE: August 2, 2023
TO: Mayor and City Council
PREPARED BY: Kayla Charters, Senior Management Analyst
REVIEWED BY: Gina Gonzalez, Economic Development Director APPROVED BY: Armando G. Villa, City Manager
-------------------------------------------------------------------------------------------------------------------------------
RECOMMENDED ACTION
1. Provide direction on color selection for Citywide street sign color options; and
2. Approve completed Comprehensive Citywide Signage and Wayfinding Schematic Design Package from RSM Design; and
3. Direct staff to collaborate on a phased implementation plan for the Citywide Signage Program.
DISCUSSION
On March 16, 2022, staff presented a partial Comprehensive Citywide Signage and Wayfinding Program Design Refinement to the City Council for discussion and feedback. While there was collective support for the design, staff received special requests from the City Council to revisit and refine the design concept “minimally” to potentially incorporate some warmer tones and reflect the City’s brand through varying materials. On November 2, 2022, staff brought back a refined design for consideration and received feedback for minimal revisions.
The complete and final Comprehensive Citywide Signage and Wayfinding Program is attached for City Council consideration. In addition to the items that were in the last signage program brought forward, this complete sign package contains Park Monument Signage, Street Identification Signs, Park Regulation Signage, Freeway Overpass Signage, and sign locations.
The sign locations are conceptual only, final locations of each sign will be subject to review/approval by the City Engineer/Public Works Director and/or Community Development Director.
The complete sign package details two concepts for the street identification signs (page 10).
Option A - being a white street sign with black letters, and Option B - being a blue sign with white Item Title: 12.1
Comprehensive Citywide Signage and Wayfinding Program Package Item Page Number: 1
Menifee Mayor and City Council
August 2, 2023
Page
468 of 729
City of Menifee Staff Report
Comprehensive Citywide Signage and Wayfinding Program Package August 2, 2023
1 4
7 1
letters. Staff is looking for the Council consensus on the color selection for the citywide street sign color option.
Upon City Council approval, an internal committee of inter-departmental staff will collaborate on a phased approach for implementation on the Signage Program. Staff will work to identify existing signage (ex: street identification signs, park monuments) that will need to be updated and future signage needs. In addition, this effort will be a collaborative partnership with the development community and will integrate the sign package in development conditions as necessary into future development. The internal committee will be formed to curate a phased implementation plan that will outline phases, funding sources, and timing to complete and implement the Citywide Signage and Wayfinding Program throughout the City in Councilmember districts.
The total approximate cost for sign implementation is estimated to be $960,000 - $1,152,000.
However, it is important to note that fabrication prices will continue to fluctuate, due to costs for material, labor, location of the signs, utility needs, and other factors, that will greatly impact the final cost of sign implementation. The quality of the fabricator will also determine pricing, as well as level of service, and quality of the implantation of the Signage Program. A formal bid process will need to occur to determine true costs of implementation.
STRATEGIC PLAN OBJECTIVE
Accessible and Interconnected Community
The Comprehensive Citywide Signage and Wayfinding Program completes Menifee’s 2018-2023 Strategic Plan Item No. 4.5 within the Infrastructure priority of the plan, reflecting the "Accessible and Interconnected Community" goal. In addition, this Program also touches the "Safe and Attractive Community" through consistent signage offering the City more opportunities to be attractive. As well as "Livable and Economically Prosperous Community" as businesses benefit from being able to attract talent through enhanced placemaking within the City.
FISCAL IMPACT
At this time there is no fiscal impact associated with the recommended action. However, as a next step, an internal committee will be formed to curate a phased implementation plan that will outline phases, funding sources, and timing to complete and implementation the Citywide Signage and Wayfinding Program, as it relates to the City’s Capital Improvement Program and City Council priorities (Council 2018-2023 Strategic Plan Item 4.5.1c).
ATTACHMENTS
1. Citywide Signage and Wayfinding Schematic Design
Item Title: 12.1
Comprehensive Citywide Signage and Wayfinding Program Package Item Page Number: 2
Menifee Mayor and City Council
August 2, 2023
Page
469 of 729
Item Title: 12.1
Comprehensive Citywide Signage and Wayfinding Program Package Item Page Number: 3
Menifee Mayor and City Council
August 2, 2023
Page
470 of 729
Conceptual Daytime Rendering
SCHEMATIC DESIGN ONLY AND NOT INTENDED FOR FINAL PRICING OR FABRICATION.
ALL DESIGNS SHOWN ARE COPYRIGHT OF RSM DESIGN & CAN NOT BE USED FOR THE PRODUCTION OF SHOP DRAWINGS WITHOUT WRITTEN CONSENT FROM RSM DESIGN.
Conceptual Nighttime Rendering
B1 I Primary Gateway
Day/Night Rendering
rsmdesign
San Clemente, CA
949.492.9479
Dallas, TX
972.974.3690
Los Angeles, CA
213.705.9006
rsmde sign.com
PACKAGE NOTES
All drawings and written
materials appearing herein
constitute original and
unpublished work of RSM Design
Inc. and may not be used or
disclosed without written
consent of RSM Design Inc.
All drawings must comply
with specifications noted In this
document
PLEASE NOTE
All reference images are for
internal use only. RSM Design
does not have copyrights for said
images and therefore should not
be published or shared.
REVISlONS, DATE,
Item Title: 12.1
Comprehensive Citywide Signage and Wayfinding Program Package Item Page Number: 4
Menifee Mayor and City Council
August 2, 2023
Page
471 of 729
S?
N
4'-9"
G) Top View
Scale : 1/2"=1'
5'-8"
(::;\2
Front View'
� Scale: 1/2"=1'
•similar to Back
3'-6" i -i
Dimensional fabricated logo
Painted aluminum cabinet
Push through acrylic letters,
1 inch proud of the sign face
with painted aluminum letter
face for halo illumination
Aluminum cabinet with faux
wood powder coated finish
Internally illuminated routed
perforation patterm with backed
up white a cry I ic
Integrated wood planter base
SCHEMATIC DESIGN ONLY AND NOT INTENDED FOR FINAL PRICING OR FABRICATION. 2'-10"
6"
®Side View
Scale : 1/2"=1'
ALL DESIGNS SHOWN ARE COPYRIGHT OF RSM DESIGN & CAN NOT BE USED FOR THE PRODUCTION OF SHOP DRAWINGS WITHOUT WRITTEN CONSENT FROM RSM DESIGN.
Painted reveals
11"
i
@Side View
Scale: 1/2"=1'
B1 I Primary Gateway
Color and Material
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rsmdesign
San Clemente, CA
949.492.9479
Dallas, TX
972.974.3690
Los Angeles, CA
213.705.9006
rsmdesign.com
PACKAGE NOTES
All drawings and written
materials appearing herein
constitute original and
unpublished work of RSM Design
Inc. and may not be used or
disclosed without written
consent of RSM Design Inc.
All drawings must compty
with specifications noted In this
document
PLEASE NOTE
All reference images are for
internal use onty. RSM Design
does not have copyrights for said
images and therefore should not
be published or shared.
REVISlONS, DATE,
Item Title: 12.1
Comprehensive Citywide Signage and Wayfinding Program Package Item Page Number: 5
Menifee Mayor and City Council
August 2, 2023
Page
472 of 729
PREVSIOUS
DESIGN
• DIFFICULT FABRICATION DETAILS
• OPEN SPACES COLLECT DUST AND DEBRIS
• LOGO IS OBSCURED BY SHADOW
SCHEMATIC DESIGN ONLY AND NOT INTENDED FOR FINAL PRICING OR FABRICATION.
RECOMMENDED
DESIGN
• EASE OF MAINTENANCE & FABRICATION
• AVOIDS DUST COLLECTION
• CLEAR REPRESENTATION OF LOGO
ALL DESIGNS SHOWN ARE COPYRIGHT OF RSM DESIGN & CAN NOT BE USED FOR THE PRODUCTION OF SHOP DRAWINGS WITHOUT WRITTEN CONSENT FROM RSM DESIGN.
B1 I Primary Gateway
Dimensional Logo Feature
rsmdesign
San Clemente, CA
949.492.9479
Dallas, TX
972.974.3690
Los Angeles, CA
213.705.9006
rsmde sign.com
PACKAGE NOTES
All drawings and written
materials appearing herein
constitute original and
unpublished work of RSM Design
Inc. and may not be used or
disclosed without written
consent of RSM Design Inc.
All drawings must comply
with specifications noted In this
document
PLEASE NOTE
All reference images are for
internal use only. RSM Design
does not have copyrights for said
images and therefore should not
be published or shared.
REVISlONS, DATE,
Item Title: 12.1
Comprehensive Citywide Signage and Wayfinding Program Package Item Page Number: 6
Menifee Mayor and City Council
August 2, 2023
Page
473 of 729
G) Top View
Scale: 3/4"=1'
1'-7"
r:;\ Front View'
0 Scale: 3/4"=1'
'"similar to Back
Dimensional fabricated logo
Painted aluminum cabinet
Push through acrylic letters,
1 inch proud of the sign face
with painted aluminum letter
face for halo illumination
Aluminum cabinet with faux
wood powder coated finish
Internally illuminated routed
perforation patterm with backed
up white acrylic
SCHEMATIC DESIGN ONLY AND NOT INTENDED FOR FINAL PRICING OR FABRICATION. 71/2"
@Side View
3 Scale: 3/4'=1'
ALL DESIGNS SHOWN ARE COPYRIGHT OF RSM DESIGN & CAN NOT BE USED FOR THE PRODUCTION OF SHOP DRAWINGS WITHOUT WRITTEN CONSENT FROM RSM DESIGN. @Side View
4 Scale: .3/4"=1'
C1 I Monument
Notes and Details
rsmdesign
San Clemente, CA
949.49 2.9479
Dallas, TX
972.974.3690
Los Angeles, CA
213.705.9006
rsmdesign.com
PACKAGE NOTES
All drawings and written
materials appearing herein
constitute original and
unpublished work of RSM Design
Inc. and may not be used or
disclosed without written
consent of RSM Design Inc.
All drawings must comply
with specifications noted In this
document
PLEASE NOTE
All reference images are for
internal use only. RSM Design
does not have copyrights for said
images and therefore should not
be published or shared.
REVISlONS, DATE,
Item Title: 12.1
Comprehensive Citywide Signage and Wayfinding Program Package Item Page Number: 7
Menifee Mayor and City Council
August 2, 2023
Page
474 of 729
9 00
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(!) Top View
Scale : 1/2''=1'
@ Front & Back View
Scale : 1/2"=1'
8'-4"
12'-0"
9'-9"
12'-0"
SCHEMATIC DESIGN ONLY AND NOT INTENDED FOR FINAL PRICING OR FABRICATION.
Dimensional logo, non-illuminated
Aluminum cabinet with faux
wood powder coated finish
1/2" painted aluminum letters,
non-illuminated, messaging on
front side only
Routed perforation patterm
with backed up painted
aluminum, non-illuminated
ALL DESIGNS SHOWN ARE COPYRIGHT OF RSM DESIGN & CAN NOT BE USED FOR THE PRODUCTION OF SHOP DRAWINGS WITHOUT WRITTEN CONSENT FROM RSM DESIGN. ®Side View
Scale : 1/2'=1'
r
LED uplighting integrated
into landscape for external
illumination
Existing Conditions
D1 I Park Identification
Notes and Details
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rsmdesign
San Clemente, CA
949.492.9479
Dallas, TX
972.974.3690
Los Angeles, CA
213.705.9006
rsmdesign.com
PACKAGE NOTES
All drawings and written
materials appearing herein
constitute original and
unpublished work of RSM Design
Inc. and may not be used or
disclosed without written
consent of RSM Design Inc.
All drawings must comply
with specifications noted In this
document
PLEASE NOTE
All reference images are for
internal use only. RSM Design
does not have copyrights for said
images and therefore should not
be published or shared.
REVISlONS, DATE,
Item Title: 12.1
Comprehensive Citywide Signage and Wayfinding Program Package Item Page Number: 8
Menifee Mayor and City Council
August 2, 2023
Page
475 of 729
� r.
4'-9"
(D Top View
Scale : 1/2"=1'
6'-0"
(;:;'\ Front View'
0 Scale : 1/2''=1'
*similar to Back
Dimensional fabr icated logo
Painted aluminum cabinet
Aluminum cabinet with faux
wood powder coated finish
Pu sh through acrylic letters,
1/4" inch proud of the sign
face, directional messaging on
front side only
Internally ill uminated routed
perforation patterm with backed
up white acrylic
Integrated wood planter base
SCHEMATIC DESIGN ONLY AND NOT INTENDED FOR FINAL PRICING OR FABRICATION. 2'-0"
6"
@
Side View
3 Scale : 1/2"=1'
Painted reveals
ALL DESIGNS SHOWN ARE COPYRIGHT OF RSM DESIGN & CAN NOT BE USED FOR THE PRODUCTION OF SHOP DRAWINGS WITHOUT WRITTEN CONSENT FROM RSM DESIGN. @
Side View
4 Scale : 1/2''=1'
E1 I Vehicular Directional
Notes and Details
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u
w
rsmdesign
San Clemente, CA
949.492.9479
Dallas, TX
972.974.3690
Los Angeles, CA
213.705.9006
rsmdesign.com
PACKAGE NOTES
All drawings and written
materials appearing herein
constitute original and
unpublished work of RSM Design
Inc. and may not be used or
disclosed without written
consent of RSM Design Inc.
All drawings must comply
with specifications noted In this
document
PLEASE NOTE
All reference images are for
internal use only. RSM Design
does not have copyrights for said
images and therefore should not
be published or shared.
REVISlONS, DATE,
Item Title: 12.1
Comprehensive Citywide Signage and Wayfinding Program Package Item Page Number: 9
Menifee Mayor and City Council
August 2, 2023
Page
476 of 729
Item Title: 12.1
Comprehensive Citywide Signage and Wayfinding Program Package Item Page Number: 10
Menifee Mayor and City Council
August 2, 2023
Page
477 of 729
Concept One -
Flat Panel Painted Aluminum
with Dimensional Letters
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Location Reference
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Item Title: 12.1
Comprehensive Citywide Signage and Wayfinding Program Package Item Page Number: 11
Menifee Mayor and City Council
August 2, 2023
Page
478 of 729
OPTION A: Black on White (Preferred)
OPTION B: White on Blue (PMS 294)
G) Front View
Scale: 3'=1'
aseo
SCHEMATIC DESIGN ONLY AND NOT INTENDED FOR FINAL PRICING OR FABRICATION. aza
ALL DESIGNS SHOWN ARE COPYRIGHT OF RSM DESIGN & CAN NOT BE USED FOR THE PRODUCTION OF SHOP DRAWINGS WITHOUT WRITTEN CONSENT FROM RSM DESIGN. 24000 ► Existing Conditions: White on Brown
J1 I Street Sign
Notes and Details
rsmdesign
San Clemente, CA
949.492.9479
Dallas, TX
972.974.3690
Los Angeles, CA
213.705.9006
rsmde sign.com
PACKAGE NOTES
All drawings and written
materials appearing herein
constitute original and
unpublished work of RSM Design
Inc. and may not be used or
disclosed without written
consent of RSM Design Inc.
All drawings must comply
with specifications noted In this
document
PLEASE NOTE
All reference images are for
internal use only. RSM Design
does not have copyrights for said
images and therefore should not
be published or shared.
REVISlONS, DATE,
Item Title: 12.1
Comprehensive Citywide Signage and Wayfinding Program Package Item Page Number: 12
Menifee Mayor and City Council
August 2, 2023
Page
479 of 729
G) Park Rules Sign
Scale : 11/2''=1'
2'-10"
2"
Existing Conditions
Painted aluminum
Proxima Nova
Bold 12pt
Proxima Nova
Semibold 7pt
Proxima Nova
Bold 12pt
:-
SCHEMATIC DESIGN ONLY AND NOT INTENDED FOR FINAL PRICING OR FABRICATION. 10"
RESERVED
Esquibel Family Event
DATE
Sat, Jan 28, 2023
TIME
TO RES ERVE A PARK SHELTER@•====
OR FIELD PR EACTICE SPACE CONTACT:
City of Menifee Community Service D epartment
29844 Haun Road Menifee. CA 92586(i)o====
(9511 723-3880
www.cityofm enifee.us
MMENIFEE
0 Shelter Sign
Scale : 3"=1'
ALL DESIGNS SHOWN ARE COPYRIGHT OF RSM DESIGN & CAN NOT BE USED FOR THE PRODUCTION OF SHOP DRAWINGS WITHOUT WRITTEN CONSENT FROM RSM DESIGN.
Pa inted acrylic
Proxima Nova
Semibold 7pt
Proxima Nova
Semibold 60pt
Proxima Nova
Semibold 8pt
Reference Image
6" x S" transparent window to
see the reservation information
that printed on a letter size paper
Proxima Nova
Semibold 7pt
Proxima Nova
Semibold 6pt
TT
11 ¼" Pocket to insert
a letter size paper
M1 I Regulatory Signage
Notes and Details
rsmdesign
San Clemente, CA
949.492.9479
Dallas, TX
972.974.3690
Los Angeles, CA
213.705.9006
rsmdesign.com
PACKAGE NOTE S
All drawings and written
materials appearing herein
constitute original and
unpublished work of RSM Design
Inc. and may not be used or
disclosed without written
consent of RSM Design Inc.
All drawings must comply
with specifications noted In this
document
PLEASE NOTE
All reference images are for
internal use only. RSM Design
does not have copyrights for said
images and therefore should not
be published or shared.
REVISlONS, DATE,
Item Title: 12.1
Comprehensive Citywide Signage and Wayfinding Program Package Item Page Number: 13
Menifee Mayor and City Council
August 2, 2023
Page
480 of 729
G) Wall Mounted
Scale : 1/2"=1'
2'-10"
SCHEMATIC DESIGN ONLY AND NOT INTENDED FOR FINAL PRICING OR FABRICATION. 2'-10"
@
Freestand
Scale : 1/2'=1'
ALL DESIGNS SHOWN ARE COPYRIGHT OF RSM DESIGN & CAN NOT BE USED FOR THE PRODUCTION OF SHOP DRAWINGS WITHOUT WRITTEN CONSENT FROM RSM DESIGN. @ Pole Mounted
Scale: 3/8"=1'
M1 I Regulatory Signage
Mounting Options
rsmdesign
San Clemente, CA
949.492.9479
Dallas, TX
972.974.3690
Los Angeles, CA
213.705.9006
rsmde sign.com
PACKAGE NOTES
All drawings and written
materials appearing herein
constitute original and
unpublished work of RSM Design
Inc. and may not be used or
disclosed without written
consent of RSM Design Inc.
All drawings must comply
with specifications noted In this
document
PLEASE NOTE
All reference images are for
internal use only. RSM Design
does not have copyrights for said
images and therefore should not
be published or shared.
REVISlONS, DATE,
Item Title: 12.1
Comprehensive Citywide Signage and Wayfinding Program Package Item Page Number: 14
Menifee Mayor and City Council
August 2, 2023
Page
481 of 729
Sign Locations
Overall Site Plan
-
The sign locations for the City of Menifee have been
broken into four quadrants to allow better visibility of each sign location.
# PROJECT SIGNAGE
- Primary Gateway
OMITTED
11111 Monument Signage
t Park Identification Signage*
1111 Vehicular Directional Signage
11111 Overpass Signage
11111 Placemaking Signage•
1111 Street Sign (Prototypical)*
D
D
D
1111 Informat ional Signage (Prototypical)*
■Ml Regulatory Signage (Prototypical)*
SIGNAGE NOT LOCATED
.----------- SIGN GROUP
.--------- SIGN TYPE
..............................
LOCATION
POWER
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San Clemente, CA
949.492.9479
Dallas, TX
972.974.3690
• Los Angeles, CA
•
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Revision Table
Rev1t1on Date Ductlption
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rsmdesign.com
PACKAGE NOTES
All drawings and written
materials appearing herein
constitute original and
unpublished work of RSM Design
Inc. and may not be used or
disclosed without written
consent of RSM Design Inc .
All drawings must compty
with specifications noted In this
document
PLEASE NOTE
All reference images are for
internal use onty. RSM Design
does not have copyrights for said
images and therefore should not
be published or shared.
REVISlONS, DATE,
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ................. .
SCHEMATIC DESIGN ONLY AND NOT INTENDED FOR FINAL PRICING OR FABRICATION. Sign Location Plan ALL DESIGNS SHOWN ARE COPYRIGHT OF RSM DESIGN & CAN NOT BE USED FOR THE PRODUCTION OF SHOP DRAWINGS WITHOUT WRITTEN CONSENT FROM RSM DESIGN. *The locations are conceptual only, final locations of each sign will be subject to review/approval by the City Engineer and/or Community Development Director.
Item Title: 12.1
Comprehensive Citywide Signage and Wayfinding Program Package Item Page Number: 15
Menifee Mayor and City Council
August 2, 2023
Page
482 of 729
Item Title: 12.1
Comprehensive Citywide Signage and Wayfinding Program Package Item Page Number: 16
Menifee Mayor and City Council
August 2, 2023
Page
483 of 729
CITY OF MENIFEE
SUBJECT: Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A
MEETING DATE: August 2, 2023
TO: Mayor and City Council
PREPARED BY: Lauri Lockwood, Financial Analyst
REVIEWED BY: Margarita Cornejo, Acting Chief Financial Officer APPROVED BY: Armando G. Villa, City Manager
-------------------------------------------------------------------------------------------------------------------------------
RECOMMENDED ACTION
1. Adopt a resolution authorizing the issuance of special tax bonds and the execution and delivery of documents in connection with Community Facilities District 2021-1 (Banner Park), located northwest of Domenigoni Parkway and Lindenberger Road.
DISCUSSION
Background
The City Council previously completed the necessary proceedings to establish Community Facilities District (CFD) No. 2021-1 (Banner Park) of the City of Menifee. As part of those proceedings, the City Council declared the necessity to issue bonds on behalf of the District in a principal amount not-to-exceed $17 million to finance public facilities.
In November 2022, the District issued its first series of bonds in the principal amount of $5,375,000 (the “2022A Bonds”) to finance certain public facilities. The proposed Special Tax Bonds, Series 2023A (the “2023A Bonds”) will be issued to finance the costs of additional public improvements benefitting the District. The 2023A Bonds will be payable from the Special Taxes of the District on a parity with the 2022A Bonds.
The District contains approximately 76 gross acres and approximately 56 net taxable acres, and is located in the eastern portion of the City, northwest of Domenigoni Parkway at Lindenberger Road. The Project in the District is planned for 256 Single-Family homes being marketed as “Banner Park.” Pulte Home Company, LLC is the developer of the Project in the District.
Development in the District has progressed since the issuance of the District’s 2022A Bonds. As of June 12, 2023, Pulte Homes had completed and conveyed 203 homes to individual homeowners and, as of such date, Pulte Homes owned 6 model homes (one of which was in Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 1
Menifee Mayor and City Council
August 2, 2023
Page
484 of 729
City of Menifee Staff Report
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A
August 2, 2023
1 7
3 3
escrow), 44 homes in various stages of construction (40 of which were in escrow) and three finished lots (all of which were in escrow). Pulte Homes expects to complete and convey all homes planned within the District to individual homeowners by the end of 2024.
Annual debt service on the proposed 2023A Bonds will be sized based on the expected Special Tax revenues to be received from all 256 planned homes classified as Developed Property for Fiscal Year (FY) 2023/2024. The development and ownership status of the planned homes within the District as of June 12, 2023, is shown in the table below.
Table 1 – Ownership and Development Summary (June 12, 2023)
PARCELS IN ESCROW
Individually Owned
Completed 203 --
Developer Owned
Model Homes 6 1
Under Construction 44 40
Finished Lots 3 3
TOTAL 256 44
The resolution before the City Council authorizes the issuance of the 2023A Bonds and the execution and delivery of certain documents in connection therewith as further described in the following paragraphs.
Based on current market conditions, the 2023A Bonds are estimated to have a par amount of $6.325 million with a final maturity of Sept. 1, 2053 (30-year financing term). The final par amount and interest rate structure will be determined when the 2023A Bonds are priced and sold.
The table below highlights financing statistics based on current market conditions.
Table 2 – Summary of Financial Statistics*
2023A Bonds
Par Amount $6,325,000
True Interest Cost 5.24%
Estimated Cost to Homeowners
FY 2023/2024 Assessment** $2,617 to $3,174
*Preliminary; Subject to Change; Based on Market Conditions **Annual Assigned Special Tax will increase at approximately 2% per year.
As required under Section 5852.1 of the California Government Code, below are the good faith estimates as provided by the Municipal Advisor and Underwriter (which are also provided in Attachment 2 to this Staff Report):
1. As illustrated above, the true interest cost of the 2023A Bonds is estimated at 5.24%, calculated as provided in Section 5852.1(a)(1)(A) of the Code.
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 2
Menifee Mayor and City Council
August 2, 2023
Page
485 of 729
City of Menifee Staff Report
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A
August 2, 2023
1 7
3 3
2. The finance charge of the 2023A Bonds, including underwriter’s discount and all other fees and charges paid to third parties, is estimated at $285,388.
3. Proceeds of the 2023A Bonds received by the District for the sale of the 2023A Bonds, less the finance charges set forth in (2) above and the reserve fund funded with proceeds of the 2023A Bonds, is equal to $5,508,505 which will be available to finance the Project.
4. The total payment amount calculated as provided in Section 5852.1(a)(1)(D) of the Code is estimated at $13,794,028.
The foregoing are estimates and the final amounts will depend on market conditions and can be expected to vary from the estimated amounts set forth above.
Documents to be Approved
Approval of the attached resolution, authorizes the sale of the proposed 2023A Bonds and the execution of the following documents attached to this Staff Report:
Preliminary Official Statement
First Supplement to the Bond Indenture
Continuing Disclosure Certificate
Bond Purchase Agreement
Bond Counsel and the City Attorney have reviewed the attached legal and financing documents on behalf of the City and the District. If this resolution is approved, City staff will continue to work with the financing team to finalize all the aforementioned documents. The pricing date is targeted for the week of Aug. 7, 2023, with bond closing anticipated for approximately two weeks after the pricing date.
STRATEGIC PLAN OBJECTIVE
Regular City Business
FISCAL IMPACT
Debt service on the 2023A Bonds as well as administrative costs of the District will be paid from Special Taxes levied within the District. There is no fiscal impact to the City’s General Fund.
ATTACHMENTS
1. Project Location Map
2. Good Faith Estimates
3. Resolution
4. Preliminary Official Statement
5. First Supplement to the Bond Indenture
6. Continuing Disclosure Certificate
7. Bond Purchase Agreement
8. Appraisal Report
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 3
Menifee Mayor and City Council
August 2, 2023
Page
486 of 729
DOMENIGONI PKWY
LINDENBERGER RD
0 500 1,000250
Feet
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LOCATION MAP
COMMUNITY FACILITIES DISTRICT NO. 2021-1 (BANNER PARK)
CITY OF MENIFEE
¹
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 4
Menifee Mayor and City Council
August 2, 2023
Page
487 of 729
EXHIBIT A
GOOD FAITH ESTIMATES
The good faith estimates set forth herein are provided with respect to the 2023 Bonds in accordance with California Government Code Section 5852.1. Such good faith estimates have been provided to the District by Urban Futures, Inc., the District’s Municipal Advisor (the “Municipal Advisor”) in consultation with Stifel, Nicolaus & Company, Incorporated, the Underwriter for the 2023 Bonds.
Principal Amount. The Municipal Advisor has informed the District that, based on the District’s financing plan and current market conditions, its good faith estimate of the aggregate principal amount of the 2023 Bonds to be sold is $6,325,000 (the “Estimated Principal Amount”).
True Interest Cost of the 2023 Bonds. The Municipal Advisor has informed the District that, assuming that the Estimated Principal Amount of the 2023 Bonds is sold, and based on market interest rates prevailing at the time of preparation of such estimate, its good faith estimate of the true interest cost of the 2023 Bonds, which means the rate necessary to discount the amounts payable on the respective principal and interest payment dates to the purchase price received for the 2023 Bonds, is 5.24%.
Finance Charge of the 2023 Bonds. The Municipal Advisor has informed the District that assuming that the Estimated Principal Amount of the 2023 Bonds is sold, and based on market interest rates prevailing at the time of preparation of such estimate, its good faith estimate of the finance charge for the 2023 Bonds, which means the sum of all fees and charges paid to third parties (or costs associated with the 2023 Bonds), is $285,388.
Amount of Proceeds to be Received. The Municipal Advisor has informed the District that, assuming the Estimated Principal Amount of the 2023 Bonds is sold, and based on market interest rates prevailing at the time of preparation of such estimate, its good faith estimate of the amount of proceeds expected to be received by the District for sale of the 2023 Bonds, less the finance charge of the 2023 Bonds, as estimated above, and any reserves or capitalized interest paid or funded with proceeds of the 2023 Bonds, is $5,508,505.
Total Payment Amount. The Municipal Advisor has informed the District that, assuming that the Estimated Principal Amount of the 2023 Bonds is sold, and based on market interest rates prevailing at the time of preparation of such estimate, its good faith estimate of the total payment amount, which means the sum total of all payments the District will make to pay debt service on the 2023 Bonds, plus the finance charge for the 2023 Bonds, as described above, not paid with the proceeds of the 2023 Bonds, calculated to the final maturity of the Bonds, is $13,794,028.
The foregoing estimates constitute good faith estimates only. The actual principal amount of the 2023 Bonds issued and sold, the true interest cost thereof, the finance charges thereof, the amount of proceeds received therefrom and total payment amount with Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 5
Menifee Mayor and City Council
August 2, 2023
Page
488 of 729
respect thereto may differ from such good faith estimates due to (a) the actual date of the sale of the 2023 Bonds being different than the date assumed for purposes of such estimates, (b) the actual principal amount of the 2023 Bonds sold being different from the Estimated Principal Amount, (c) the actual amortization of the 2023 Bonds being different than the amortization assumed for purposes of such estimates, (d) the actual market interest rates at the time of sale of the 2023 Bonds being different than those estimated for purposes of such estimates, (e) other market conditions, or (f) alterations in the District’s financing plan, or a combination of such factors. The actual date of sale of the 2023 Bonds and the actual principal amount of 2023 Bonds sold will be determined by the District based on the timing of the need for proceeds of the 2023 Bonds and other factors. The actual interest rates borne by the 2023 Bonds will depend on market interest rates at the time of sale thereof. The actual amortization of the 2023 Bonds will also depend, in part, on market interest rates at the time of sale thereof. Market interest rates are affected by economic and other factors beyond the control of the District.
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 6
Menifee Mayor and City Council
August 2, 2023
Page
489 of 729
4866-9313-2644v4/200299-0018
RESOLUTION NO. 23-___
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
MENIFEE, ACTING AS THE LEGISLATIVE BODY OF
COMMUNITY FACILITIES DISTRICT NO. 2021-1 (BANNER
PARK) OF THE CITY OF MENIFEE AUTHORIZING THE
ISSUANCE OF ITS SPECIAL TAX BONDS, SERIES 2023A IN A
PRINCIPAL AMOUNT NOT TO EXCEED SEVEN MILLION FIVE
HUNDRED THOUSAND DOLLARS ($7,500,000), AND
APPROVING CERTAIN DOCUMENTS AND TAKING CERTAIN
OTHER ACTIONS IN CONNECTION THEREWITH
WHEREAS, the City Council (the “City Council”) of the City of Menifee (the “City”), has heretofore undertaken proceedings to establish Community Facilities District No. 2021-1 (Banner Park) of the City of Menifee (the “District”) and declared the necessity to issue bonds on behalf of the District pursuant to the terms and provisions of the Mello-Roos Community Facilities Act of 1982, as amended, being Chapter 2.5, Part 1, Division 2, Title 5 of the Government Code of the State of California (Act); and
WHEREAS, pursuant to Resolution Nos. 21-1030 and 21-1031 adopted by the legislative body of the District on June 2, 2021, certain bond propositions were submitted to the qualified electors within the District, and were approved by more than two-thirds of the votes cast at the election held on June 2, 2021; and
WHEREAS, the District has previously issued its $5,375,000 Special Tax Bonds, Series 2022A (the “2022 Bonds”) to finance certain public facilities which the District was authorized to finance (the “Facilities”); and
WHEREAS, the 2022 Bonds were issued pursuant to a Bond Indenture dated as of November 1, 2022 (the “2022 Indenture”), by and between the District and Wilmington Trust, National Association as trustee (the “Trustee”); and
WHEREAS, the legislative body of the District now desires to finance certain additional Facilities through the issuance of bonds in an aggregate principal amount not to exceed $7,500,000 designated as the “Community Facilities District No. 2021-1 (Banner Park) of the City of Menifee Special Tax Bonds, Series 2023A” (the “2023 Bonds”); and WHEREAS, in order to effect the issuance of the 2023 Bonds, the District desires to enter into various agreements and approve certain documents in substantially the forms presented herein; and
WHEREAS, based on the appraisal of real property prepared by Kitty Siino & Associates, Inc. (the “Appraisal”) of property within the District, the value of the real property in the District subject to the special tax to pay debt service on the 2023 Bonds is more than three times the sum of the principal amount of the 2023 Bonds and the principal amount of all other bonds outstanding that are secured by a special tax levied pursuant to the Act or a special assessment levied on property within the District (including the 2022 Bonds), all as calculated in the manner set forth in Section 53345.8(a) of the Act; and Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 7
Menifee Mayor and City Council
August 2, 2023
Page
490 of 729
Resolution Authorizing Issuance of CFD 2021-1 Special Tax Bonds 4866-9313-2644v4/200299-0018
4 7
1 9
1 WHEREAS, the City Council has determined in accordance with Section 53360.4 of the Act that a negotiated sale of the 2023 Bonds to Stifel, Nicolaus & Company, Incorporated (the “Underwriter”) in accordance with the terms of the Bond Purchase Agreement for the 2023 Bonds to be entered into by the District and the Underwriter (the “Bond Purchase Agreement”) approved as to form by this City Council herein will result in a lower overall cost to the District than a public sale; and
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Menifee, California, acting as the legislative body of Community Facilities District No. 2021-1 (Banner Park) of the City of Menifee:
Section 1.Each of the above recitals is true and correct.
Section 2.The issuance of the 2023 Bonds is hereby authorized in an aggregate principal amount not to exceed $7,500,000, with the exact principal amount to be determined by the official signing the Bond Purchase Agreement in accordance with Section 5 below. The City Council hereby determines that it is prudent in the management of the District’s fiscal affairs to issue the 2023 Bonds. The 2023 Bonds shall mature on the dates and pay interest at the rates set forth in the Bond Purchase Agreement to be executed on behalf of the District in accordance with Section 5 hereof. All other provisions of the 2023 Bonds shall be governed by the terms and conditions of the 2022 Indenture, as supplemented and amended by the First Supplement to Bond Indenture (the “First Supplement” and together with the 2022 Indenture, the “Indenture”), which First Supplement is hereby approved in substantially the form on file with the City Clerk, with such additions thereto and changes therein (including, but not limited to, changes in the amount to be maintained in the Reserve Account (as defined in the Indenture)) as the officer or officers executing the same deem necessary to enhance the security for the 2023 Bonds, to cure any ambiguity or defect therein, to insert the offering price(s), interest rate(s), selling compensation, principal amount per maturity, redemption dates and prices and such other related terms and provisions as limited by Section 5 hereof or to conform any provisions therein to the Bond Purchase Agreement or the Official Statement delivered to the Underwriter of the 2023 Bonds. Approval of such changes shall be conclusively evidenced by the execution and delivery of the Indenture by one of the following: the Mayor, the City Manager, the Assistant City Manager, the Chief Financial Officer or their written designees (each, an “Authorized Officer” and collectively, the “Authorized Officers”), each of whom is authorized to execute the First Supplement. Capitalized terms used in this Resolution which are not defined herein have the meanings ascribed to them in the Indenture.
Section 3.The 2023 Bonds shall be executed on behalf of the District by the manual or facsimile signature of the Mayor of the City or his or her written designee and be attested by the manual or facsimile signature of the City Clerk. Wilmington Trust, National Association is hereby appointed to act as trustee, registrar and transfer agent for the 2023 Bonds.
Section 4.The covenants set forth in the Indenture are hereby approved, shall be deemed to be covenants of the City Council and shall be complied with by the District and its officers. The Indenture shall constitute a contract between the District and the Owners of the 2023 Bonds.
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 8
Menifee Mayor and City Council
August 2, 2023
Page
491 of 729
Resolution Authorizing Issuance of CFD 2021-1 Special Tax Bonds 4866-9313-2644v4/200299-0018
4 7
1 9
1 Section 5.The form of the Bond Purchase Agreement presented at this meeting is hereby approved and each of the Authorized Officers is hereby authorized to execute the Bond Purchase Agreement, with such additions thereto and changes therein relating to dates and numbers as are necessary to conform the Bond Purchase Agreement to the dates, amounts and interest rates applicable to the 2023 Bonds as of the sale date. Approval of such additions and changes shall be conclusively evidenced by the execution and delivery of the Bond Purchase Agreement by one or more of such Authorized Officers; provided, however, that the Bond Purchase Agreement shall be signed only if the Underwriter’s discount does not exceed 1.35% of the principal amount of the 2023 Bonds and only if the true interest cost on the 2023 Bonds does not exceed 6.00%. Each of the Authorized Officers is authorized to determine the day on which the 2023 Bonds are to be priced in order to attempt to produce the lowest borrowing cost for the District and may reject any terms presented by the Underwriter if determined not to be in the best interest of the District.
Section 6.The form of the Continuing Disclosure Certificate presented at this meeting is hereby approved and each of the Authorized Officers is hereby authorized and directed to execute the Continuing Disclosure Certificate in the form hereby approved, with such additions therein and changes thereto as the officer or officers executing the same deem necessary to cure any defect or ambiguity therein, with such approval to be conclusively evidenced by the execution and delivery of such certificate.
Section 7.The form of the Preliminary Official Statement presented at this meeting is hereby approved and the Underwriter is hereby authorized to distribute the Preliminary Official Statement to prospective purchasers of the 2023 Bonds in the form hereby approved, together with such additions thereto and changes therein as are determined necessary by the Authorized Officers to make such Preliminary Official Statement final as of its date for purposes of Rule 15c2-12 of the Securities and Exchange Commission. Each of the Authorized Officers is hereby authorized to execute a final Official Statement in the form of the Preliminary Official Statement, together with such changes as are determined necessary by the Authorized Officers, to make such Official Statement complete and accurate as of its date. The Underwriter is further authorized to distribute the final Official Statement for the 2023 Bonds and any supplement thereto to the purchasers of the 2023 Bonds upon the execution of the final Official Statement as described above.
Section 8.In accordance with the requirements of Section 53345.8 of the Act, based on the Appraisal, the legislative body of the District hereby determines that the value of the real property in the District subject to the special tax to pay debt service on the 2023 Bonds is more than three times the principal amount of the 2023 Bonds and the principal amount of all other bonds outstanding that are secured by a special tax levied pursuant to the Act or a special assessment levied on property within the District (including the 2022 Bonds), all as calculated in the manner provided in Section 53345.8(a) of the Act.
Section 9.Each Authorized Officer is authorized to provide for all services necessary to effect the issuance of the 2023 Bonds. Such services shall include, but not be limited to, printing the 2023 Bonds, obtaining legal services, trustee and paying Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 9
Menifee Mayor and City Council
August 2, 2023
Page
492 of 729
Resolution Authorizing Issuance of CFD 2021-1 Special Tax Bonds 4866-9313-2644v4/200299-0018
4 7
1 9
1 agent services, and any other services deemed appropriate as set forth in a certificate of such Authorized Officer. Each Authorized Officer is authorized to pay for the cost of such services, together with other costs of issuance, from 2023 Bond proceeds deposited pursuant to the First Supplement.
Section 10.The Authorized Officers, the City Clerk and the other officers and staff of the City and the District responsible for the fiscal affairs of the District are hereby authorized and directed to take any actions and execute and deliver any and all documents as are necessary to accomplish the issuance, sale and delivery of the 2023 Bonds in accordance with the provisions of this Resolution and the fulfillment of the purposes of the 2023 Bonds as described in the Indenture, including, in the discretion of any of the Authorized Officers, providing certificates to the Underwriter as to the accuracy of any information relating to the District which is included within the Official Statement. Any document authorized herein to be signed by the City Clerk may be signed by a duly appointed deputy clerk.
Section 11.The City Council acknowledges that the good faith estimates required by Section 5852.1 of the California Government Code are disclosed in the staff report and are available to the public at the meeting at which this Resolution is approved.
Section 12.This Resolution shall be effective upon its adoption.
PASSED, APPROVED AND ADOPTED this 2nd day of August, 2023. ___________________________
Bill Zimmerman, Mayor
Attest:
___________________________
Stephanie Roseen, Acting City Clerk
Approved as to form:
___________________________
Jeffrey T. Melching, City Attorney
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 10
Menifee Mayor and City Council
August 2, 2023
Page
493 of 729
Stradling Yocca Carlson & Rauth
Draft of 7/17/2023
4868-9690-6604v5/200299-0018
PRELIMINARY OFFICIAL STATEMENT DATED AUGUST __, 2023
NEW ISSUE—BOOK-ENTRY ONLY NO RATING
In the opinion of Stradling Yocca Carlson & Rauth, a Professional Corporation, Newport Beach, California (“Bond Counsel”), under existing statutes, regulations, rulings and judicial decisions, and assuming the accuracy of certain representations and compliance with certain covenants and requirements described herein, interest (and original issue discount) on the 2023 Bonds is excluded from gross income for federal income tax purposes and is not an item of tax preference for purposes of calculating the federal alternative minimum tax imposed on individuals. In the further opinion of Bond Counsel, interest (and original issue discount) on the 2023 Bonds is exempt from State of California personal income tax. See “TAX MATTERS” with respect to tax consequences relating to the Bonds, including with respect to the alternative minimum tax imposed on certain large corporations for tax years beginning after December 31, 2022.
$6,190,000*
COMMUNITY FACILITIES DISTRICT NO. 2021-1 (BANNER PARK)
OF THE CITY OF MENIFEE
SPECIAL TAX BONDS, SERIES 2023A
Dated: Delivery Date Due: September 1, as shown on inside cover page The Community Facilities District No. 2021-1 (Banner Park) of the City of Menifee Special Tax Bonds, Series 2023A (the “2023 Bonds”) are being issued by Community Facilities District No. 2021-1 (Banner Park) of the City of Menifee (the “District”) to: (i) finance certain public improvements needed with respect to the development of property located within the District, including public improvements to be owned by the City of Menifee (the “City”), water and sewer facilities to be owned and operated by Eastern Municipal Water District, and school facilities to be owned and operated by Menifee Union School District; (ii) fund a deposit to the reserve account securing the 2023 Bonds and the 2022 Bonds (defined below); and (iii) pay costs of issuance for the 2023 Bonds. The 2023 Bonds are authorized to be issued pursuant to the Mello-Roos Community Facilities Act of 1982, as amended (Section 53311 et seq. of the Government Code of the State of California) (the “Act”), and pursuant to that certain Bond Indenture, dated as of November 1, 2022, as supplemented by that certain First Supplement to Bond Indenture, dated as of August 1, 2023, (together, the “Indenture”) each by and between the District and Wilmington Trust, National Association, as trustee (the “Trustee”).
The 2023 Bonds are payable from Net Taxes (as defined herein) derived from a certain annual Special Tax (as defined herein) to be levied on taxable parcels within the District and from certain other funds pledged under the Indenture, all as further described herein. The 2023 Bonds are secured under the Indenture by a pledge of and lien upon Net Taxes on a parity with the District’s Special Tax Bonds, Series 2022A, which are currently outstanding in the aggregate principal amount of $5,375,000 (the “2022 Bonds”). The Special Tax is to be levied according to the rate and method of apportionment approved by the City Council of the City and the qualified electors within the District. See the caption “SOURCES OF PAYMENT FOR THE BONDS — Special Taxes” and Appendix A — “RATE AND METHOD OF APPORTIONMENT OF SPECIAL TAX.” The 2023 Bonds will be issued in fully registered form and when issued will be registered in the name of Cede & Co., as nominee of The Depository Trust Company, New York, New York (“DTC”). Individual purchases of the 2023 Bonds may be made in principal amounts of $5,000 and integral multiples thereof and will be in book-entry form only. Purchasers of the 2023 Bonds will not receive certificates representing their beneficial ownership of the 2023 Bonds but will receive credit balances on the books of their respective nominees. The 2023 Bonds will not be transferable or exchangeable except for transfer to another nominee of DTC or as otherwise described herein. Interest on the 2023 Bonds will be payable on each March 1 and September 1, commencing March 1, 2024.
Principal of and interest on the 2023 Bonds will be paid by the Trustee to DTC for subsequent disbursement to DTC Participants, who will remit such payments to the Beneficial Owners of the 2023 Bonds.
NEITHER THE FAITH AND CREDIT NOR THE TAXING POWER OF THE CITY, THE COUNTY OF RIVERSIDE, THE STATE OF CALIFORNIA OR ANY POLITICAL SUBDIVISION THEREOF IS PLEDGED TO THE PAYMENT OF THE 2023 BONDS. EXCEPT FOR THE NET TAXES, NO OTHER REVENUES OR TAXES ARE PLEDGED TO THE PAYMENT OF THE 2023 BONDS. THE 2023 BONDS ARE NOT GENERAL OR
SPECIAL OBLIGATIONS OF THE CITY OR GENERAL OBLIGATIONS OF THE DISTRICT BUT ARE LIMITED OBLIGATIONS OF THE DISTRICT PAYABLE SOLELY FROM NET TAXES AND OTHER AMOUNTS HELD UNDER THE INDENTURE AS MORE FULLY DESCRIBED HEREIN.
The 2023 Bonds are subject to optional redemption, special mandatory redemption and mandatory sinking fund redemption prior to maturity as set forth herein. See the caption “THE BONDS — Redemption.” Investment in the 2023 Bonds involves risks that are not appropriate for certain investors. Certain events could affect the ability of the District to pay the principal of and interest on the 2023 Bonds when due. See the caption “SPECIAL RISK FACTORS” for a discussion of certain risk factors that should be considered, in addition to the other matters set forth herein, in evaluating the investment quality of the 2023 Bonds.
THIS COVER PAGE CONTAINS CERTAIN INFORMATION FOR GENERAL REFERENCE ONLY. IT IS NOT INTENDED TO BE A SUMMARY OF THE SECURITY OR TERMS OF THIS ISSUE. INVESTORS ARE ADVISED TO READ THE ENTIRE OFFICIAL STATEMENT TO OBTAIN INFORMATION ESSENTIAL TO THE MAKING OF AN INFORMED INVESTMENT DECISION.
MATURITY SCHEDULE
(See Inside Cover Page)
The 2023 Bonds are offered when, as and if issued and accepted by the Underwriter, subject to approval as to their legality by Stradling Yocca Carlson & Rauth, a Professional Corporation, Newport Beach, California, Bond Counsel, and subject to certain other conditions. Certain legal matters will be passed on for the City and the District by Rutan & Tucker, LLP, Irvine, California, City Attorney, and for the District by Stradling Yocca Carlson & Rauth, a * Preliminary, subject to change.
This Preliminary Official Statement and the information contained herein are subject to completion or amendment. These securities may not be sold, nor may offers to buy them be accepted, prior to the time the Official Statement is delivered in final form. Under no circumstances shall this Preliminary Official Statement constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 11
Menifee Mayor and City Council
August 2, 2023
Page
494 of 729
4868-9690-6604v5/200299-0018
Professional Corporation, Disclosure Counsel, for the Underwriter by Kutak Rock LLP, Irvine, California, and for the Trustee by its counsel. It is anticipated that the Bonds in book-entry form will be available for delivery on or about August __, 2023. [STIFEL LOGO]
Dated: August __, 2023
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 12
Menifee Mayor and City Council
August 2, 2023
Page
495 of 729
4868-9690-6604v5/200299-0018
$6,190,000*
COMMUNITY FACILITIES DISTRICT NO. 2021-1 OF THE
CITY OF MENIFEE (BANNER PARK)
SPECIAL TAX BONDS, SERIES 2023A
MATURITY SCHEDULE
BASE CUSIP®† 58680W
$__________ Serial Bonds
Maturity Date
(September 1)
Principal
Amount Interest Rate Yield Price CUSIP No.†
$ % %
$__________ ______% Term Bonds due September 1, 20__ Yield_____% Price: ______ CUSIP No.† ___ $__________ ______% Term Bonds due September 1, 20__ Yield_____% Price: ______ CUSIP No.† ___ * Preliminary, subject to change.
† CUSIP® is a registered trademark of the American Bankers Association. CUSIP Global Services (CGS) is managed on behalf of the American Bankers Association by FactSet Research Systems Inc. Copyright(c) 2023 CUSIP Global Services. All rights reserved. CUSIP® data herein is provided by CUSIP Global Services. This data is not intended to create a database and does not serve in any way as a substitute for the CGS database. CUSIP® numbers are provided for convenience of reference only. None of the City, the District nor the Underwriter is responsible for the selection or uses of these CUSIP numbers, and no representation is made as to their correctness on the applicable 2023 Bonds or as included herein. The CUSIP number for a specific maturity is subject to being changed after the issuance of the 2023 Bonds as a result of various subsequent actions including, but not limited to, a refunding in whole or in part or as a result of the procurement of secondary market portfolio insurance or other similar enhancement by investors that is applicable to all or a portion of certain maturities of the 2023 Bonds.
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 13
Menifee Mayor and City Council
August 2, 2023
Page
496 of 729
4868-9690-6604v5/200299-0018
CITY OF MENIFEE
COUNTY OF RIVERSIDE, CALIFORNIA
CITY COUNCIL
Bill Zimmerman, Mayor
Bob Karwin, Mayor Pro Tem
Ricky Estrada, District 2
Lesa Sobek, District 3
Dean Deines, District 4
CITY ADMINISTRATORS
Armando G. Villa, City Manager
Rochelle Clayton, Assistant City Manager
CITY ATTORNEY
Rutan & Tucker, LLP
Irvine, California
BOND AND DISCLOSURE COUNSEL
Stradling Yocca Carlson & Rauth, a Professional Corporation Newport Beach, California
MUNICIPAL ADVISOR
Urban Futures, Inc.
Walnut Creek, California
SPECIAL TAX CONSULTANT
Spicer Consulting Group, LLC
Murrieta, California
APPRAISER
Kitty Siino & Associates, Inc.
Tustin, California
TRUSTEE
Wilmington Trust, National Association
Costa Mesa, California
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 14
Menifee Mayor and City Council
August 2, 2023
Page
497 of 729
4868-9690-6604v5/200299-0018
Except where otherwise indicated, all information contained in this Official Statement has been provided by the City and the District. No dealer, broker, salesperson or other person has been authorized by the City, the District, the Trustee or the Underwriter to give any information or to make any representations in connection with the offer or sale of the 2023 Bonds other than those contained herein and, if given or made, such other information or representations must not be relied upon as having been authorized by the City, the District, the Trustee or the Underwriter. This Official Statement does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the 2023 Bonds by a person in any jurisdiction in which it is unlawful for such person to make such an offer, solicitation or sale.
This Official Statement is not to be construed as a contract with the purchasers or Owners of the 2023 Bonds. Statements contained in this Official Statement which involve estimates, forecasts or matters of opinion, whether or not expressly so described herein, are intended solely as such and are not to be construed as representations of fact. This Official Statement, including any supplement or amendment to this Official Statement, is intended to be deposited with the Electronic Municipal Market Access System of the Municipal Securities Rulemaking Board, which can be found at www.emma.msrb.org.
The Underwriter has provided the following sentence for inclusion in this Official Statement:
The Underwriter has reviewed the information in this Official Statement in accordance with, and as a part of, its responsibilities to investors under the federal securities laws as applied to the facts and circumstances of this transaction, but the Underwriter does not guarantee the accuracy or completeness of such information.
The information and expressions of opinion herein are subject to change without notice and neither the delivery of this Official Statement nor any sale made hereunder shall, under any circumstances, create any implication that there has been no change in the affairs of the City, the District or any other parties described herein since the date hereof. All summaries of the Indenture or other documents are made subject to the provisions of such documents respectively and do not purport to be complete statements of any or all of such provisions. Reference is hereby made to such documents on file with the City for further information in connection therewith.
IN CONNECTION WITH THE OFFERING OF THE 2023 BONDS, THE UNDERWRITER MAY
OVERALLOT OR EFFECT TRANSACTIONS WHICH STABILIZE OR MAINTAIN THE MARKET PRICE OF SUCH 2023 BONDS AT A LEVEL ABOVE THAT WHICH MIGHT OTHERWISE PREVAIL IN THE OPEN MARKET. SUCH STABILIZING, IF COMMENCED, MAY BE DISCONTINUED AT ANY TIME.
THE 2023 BONDS HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, IN RELIANCE UPON AN EXEMPTION CONTAINED IN SUCH ACT. THE 2023 BONDS HAVE NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES LAWS OF ANY STATE.
Certain statements included or incorporated by reference in this Official Statement constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended.
Such statements are generally identifiable by the terminology used such as a “plan,” “expect,” “estimate,” “project,” “budget,” or similar words. Such forward-looking statements include, but are not limited to certain statements contained in the information under the captions “THE DISTRICT” and “PROPERTY OWNERSHIP AND THE DEVELOPMENT.”
THE ACHIEVEMENT OF CERTAIN RESULTS OR OTHER EXPECTATIONS CONTAINED IN SUCH
FORWARD-LOOKING STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND
OTHER FACTORS WHICH MAY CAUSE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS
DESCRIBED TO BE MATERIALLY DIFFERENT FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS. THE DISTRICT
DOES NOT PLAN TO ISSUE ANY UPDATES OR REVISIONS TO THE FORWARD-LOOKING STATEMENTS SET FORTH IN THIS OFFICIAL STATEMENT. IN EVALUATING SUCH STATEMENTS, POTENTIAL INVESTORS
SHOULD SPECIFICALLY CONSIDER THE VARIOUS FACTORS WHICH COULD CAUSE ACTUAL EVENTS OR
RESULTS TO DIFFER MATERIALLY FROM THOSE INDICATED BY SUCH FORWARD-LOOKING STATEMENTS.
The City maintains a website. However, the information presented on such website is not part of this Official Statement and should not be relied upon in making an investment decision with respect to the 2023 Bonds.
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 15
Menifee Mayor and City Council
August 2, 2023
Page
498 of 729
i
4868-9690-6604v5/200299-0018
TABLE OF CONTENTS
Page
INTRODUCTION .................................................................................................................................................1 The District ........................................................................................................................................................1 Sources of Payment for the Bonds.....................................................................................................................2 Appraisal Report ................................................................................................................................................3 Description of the 2023 Bonds ..........................................................................................................................4 Tax Exemption...................................................................................................................................................4 Professionals Involved in the Offering ..............................................................................................................4 Continuing Disclosure .......................................................................................................................................5 Parity Bonds for Refunding Purposes Only.......................................................................................................5 Bond Owners’ Risks ..........................................................................................................................................5 Other Information ..............................................................................................................................................5 FINANCING PLAN ..............................................................................................................................................6 Estimated Sources and Uses of Funds ...............................................................................................................6 THE 2023 BONDS ................................................................................................................................................6 General Provisions.............................................................................................................................................6 Debt Service Schedule .......................................................................................................................................7 Redemption........................................................................................................................................................7 Registration, Transfer and Exchange...............................................................................................................11 SOURCES OF PAYMENT FOR THE BONDS .................................................................................................12 Limited Obligations .........................................................................................................................................12 Special Taxes ...................................................................................................................................................12 Reserve Account of the Special Tax Fund.......................................................................................................18 No Teeter Plan .................................................................................................................................................18 Parity Bonds for Refunding Purposes Only.....................................................................................................19 THE DISTRICT...................................................................................................................................................20 General Description of the District..................................................................................................................20 Authorized Uses of Bond Proceeds .................................................................................................................21 Appraisal Report ..............................................................................................................................................21 Estimated Appraised Value-to-Lien Ratios .....................................................................................................22 Direct and Overlapping Debt...........................................................................................................................25 Delinquency History ........................................................................................................................................29 PROPERTY OWNERSHIP AND THE DEVELOPMENT................................................................................29 General.............................................................................................................................................................29 Development Within the District.....................................................................................................................30 Pulte Homes.....................................................................................................................................................31 SPECIAL RISK FACTORS ................................................................................................................................33 Risks of Real Estate Secured Investments Generally ......................................................................................33 Insufficiency of Special Tax Revenues............................................................................................................33 Impact of Economic Conditions on the Development in the District..............................................................35 Increasing Mortgage Interest Rates .................................................................................................................35 Concentration of Ownership............................................................................................................................35 Property Values................................................................................................................................................36 Natural Disasters..............................................................................................................................................36 Hazardous Substances......................................................................................................................................37 Enforcement Delays – Bankruptcy ..................................................................................................................37 Special Tax Delinquencies...............................................................................................................................37 FDIC/Federal Government Interests in Parcels ...............................................................................................38 Item Title: 12.2
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Direct and Overlapping Indebtedness..............................................................................................................39 Payment of Special Taxes is not a Personal Obligation of the Property Owners............................................39 No Acceleration Provision...............................................................................................................................39 Limited Obligations .........................................................................................................................................39 Ballot Initiatives...............................................................................................................................................40 Proposition 218 ................................................................................................................................................40 Litigation with Respect to Community Facilities Districts .............................................................................41 Loss of Tax Exemption....................................................................................................................................42 No Ratings – Limited Secondary Market ........................................................................................................42 Limitations on Remedies .................................................................................................................................42 Potential Early Redemption of 2023 Bonds from Prepayments or Community Facilities District Bond Proceeds ....................................................................................................................................................43 Cybersecurity ...................................................................................................................................................43 CONTINUING DISCLOSURE...........................................................................................................................43 TAX MATTERS..................................................................................................................................................43 LEGAL OPINION ...............................................................................................................................................45 ABSENCE OF LITIGATION .............................................................................................................................45 NO RATING........................................................................................................................................................45 UNDERWRITING ..............................................................................................................................................46 FINANCIAL INTERESTS..................................................................................................................................46 MUNICIPAL ADVISOR.....................................................................................................................................46 MISCELLANEOUS ............................................................................................................................................46 APPENDIX E.......................................................................................................................................................1 APPENDIX A RATE AND METHOD OF APPORTIONMENT OF SPECIAL TAX..........................A-1 APPENDIX B CERTAIN ECONOMIC AND DEMOGRAPHIC INFORMATION.............................B-1 APPENDIX C FORM OF OPINION OF BOND COUNSEL.................................................................C-1 APPENDIX D APPRAISAL REPORT ...................................................................................................D-1 APPENDIX E SUMMARY OF THE INDENTURE ..............................................................................E-1 APPENDIX F FORM OF DISTRICT CONTINUING DISCLOSURE CERTIFICATE .......................F-1 APPENDIX G BOOK-ENTRY ONLY SYSTEM ..................................................................................G-1 Item Title: 12.2
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Item Title: 12.2
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Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 19
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$6,190,000
COMMUNITY FACILITIES DISTRICT NO. 2021-1 OF THE
CITY OF MENIFEE (BANNER PARK)
SPECIAL TAX BONDS, SERIES 2023A
INTRODUCTION
The purpose of this Official Statement, which includes the cover page, the table of contents and the attached appendices (collectively, the “Official Statement”), is to provide certain information concerning the issuance by Community Facilities District No. 2021-1 (Banner Park) of the City of Menifee (the “District”) of its Special Tax Bonds, Series 2023A in the aggregate principal amount of $6,190,000* (the “2023 Bonds”). The proceeds of the 2023 Bonds will be used to: (i) finance certain public improvements needed with respect to the development of property located within the District, including public improvements to be owned by the City of Menifee (the “City”), water and sewer facilities to be owned and operated by Eastern Municipal Water District and school facilities to be owned and operated by Menifee Union School District; (ii) fund a deposit to the reserve account securing the 2023 Bonds and the 2022 Bonds (defined below); and (iii) pay costs of issuance for the 2023 Bonds.
The 2023 Bonds are authorized to be issued pursuant to the Mello-Roos Community Facilities Act of 1982, as amended (Section 53311 et seq. of the Government Code of the State of California) (the “Act”), a resolution adopted on August 2, 2023, by the City Council of the City, acting as the legislative body of the District, and a Bond Indenture, dated as of November 1, 2022, as supplemented by that certain First Supplement to Bond Indenture, dated as of August 1, 2023 (together, the “Indenture”), each by and between the District and Wilmington Trust, National Association, as trustee (the “Trustee”). The 2023 Bonds are secured under the Indenture by a pledge of and lien upon Net Taxes (as such term is defined herein) and all moneys in the Special Tax Fund (other than the Administrative Expense Account therein) on a parity with the District’s Special Tax Bonds, Series 2022A, which are currently outstanding in the aggregate principal amount of $5,375,000 (the “2022 Bonds”). The 2023 Bonds and the 2022 Bonds are referred to collectively herein as the “Bonds.” Under the terms of the Indenture, under certain conditions the District may issue additional bonds (“Parity Bonds”) secured by the Net Taxes on a parity with the Bonds for purposes of refunding all or a portion of the Bonds or any Parity Bonds issued in the future. See “SOURCES OF PAYMENT FOR THE BONDS — Additional Bonds for Refunding Purposes Only.”
This Introduction is not a summary of this Official Statement. It is only a brief description of and guide to, and is qualified by, more complete and detailed information contained in the entire Official Statement and the documents summarized or described herein. A full review should be made of the entire Official Statement.
The sale and delivery of 2023 Bonds to potential investors is made only by means of the entire Official Statement.
All capitalized terms used in this Official Statement and not defined have the meanings set forth in Appendix E.
The District
General. The City is located in the western portion of the County of Riverside (the “County”), California (the “State”). The District contains approximately 76 gross acres and approximately 56 net taxable acres and is located in the City on the northwest side of Domenigoni Parkway at Lindenberger Road. The developer of the property within the District is Pulte Home Company, LLC, a Michigan limited liability company (“Pulte Homes”). The project within the District has been marketed by Pulte Homes as “Banner Park.” The property within the District is planned for 256 residential units within three product lines – Crest at Banner Park (93 homes), Heritage at Banner Park (89 homes) and Merit at Banner Park (74 homes). As of June Preliminary, subject to change.
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 20
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12, 2023, date of value of the Appraisal Report (defined below) Pulte Homes had completed and conveyed 203 homes within the District to individual homeowners. As of such date, Pulte Homes owned six model homes (one of which was in escrow), 44 homes under construction (forty of which were in escrow), and three finished lots (all of which were in escrow). Building permits for all 256 planned homes within the District have been issued. Pulte Homes currently expects to complete and convey all homes planned within the District to individual homeowners by the end of 2024.
The major infrastructure (sewer, water, storm drains, utilities, and arterial roads) necessary to develop the property within the District has been completed. Remaining infrastructure to be completed primarily include in-tract improvements such as streets, sidewalks, landscaping, an offsite street and associated utilities, and the completion of a neighborhood park. As described herein, there are limitations on the number of home closings within the District that can occur until Pulte Homes satisfies certain conditions, which conditions include the completion of certain of the foregoing remaining infrastructure. All necessary discretionary permits have been obtained for Pulte Homes’ development within the District.
See the captions “THE DISTRICT” and “PROPERTY OWNERSHIP AND THE DEVELOPMENT” for further information with respect to the District, Pulte Homes and development within the District.
Formation Proceedings. The District was formed on June 2, 2021 pursuant to the Act. The Act was enacted to provide an alternative method of financing certain public capital facilities and services, especially in developing areas of the State. Any local agency (as defined in the Act) may establish a community facilities district to provide for and finance the cost of eligible public facilities and services. Generally, the legislative body of the local agency which forms a community facilities district acts on behalf of such district as its legislative body. Subject to approval by two-thirds of the votes cast at an election and compliance with the other provisions of the Act, a legislative body of a local agency may issue bonds for a community facilities district and may levy and collect a special tax within such district to repay such indebtedness.
Pursuant to the Act, on April 21, 2021 the City Council adopted Resolution No. 2021-1013 (the “Resolution of Intention”), stating its intention to form the District and to authorize the levy of a special tax on the taxable property within the District, and Resolution No. 2021-1014, stating its intention to incur bonded indebtedness in an aggregate principal amount not to exceed $17,000,000 for the purpose of financing the purchase, construction, expansion or rehabilitation of certain public facilities to serve the area within the District.
Subsequent to a noticed public hearing on June 2, 2021, the City Council adopted Resolution Nos. 21 1030 and 21-1032 (collectively the “Resolution of Formation”). The Resolution of Formation: (i) established the District; (ii) authorized the levy of a special tax (the “Special Tax”) within the District; (iii) determined the necessity to incur bonded indebtedness in an amount not to exceed $17,000,000 within the District; and (iv) called an election within the District on the proposition of incurring bonded indebtedness, levying the Special Tax and setting an appropriations limit.
On June 2, 2021, an election was held within the District in which the property owner within the District approved the proposition authorizing the issuance of bonds in an amount not to exceed $17,000,000. A Notice of Special Tax Lien for the District was recorded in the office of the County Recorder on June 10, 2021, as Document No. 2021-0351954. On June 16, 2021, the City Council adopted Ordinance No. 2021-319 (the “Ordinance”) which authorizes the levy of a special tax pursuant to the Rate and Method of Apportionment approved at the June 2, 2021 election (the “Rate and Method”), a copy of which is attached hereto as Appendix A.
Sources of Payment for the Bonds
Special Taxes. As used in this Official Statement, the term “Special Tax” means the annual Special Tax which has been authorized pursuant to the Act and the Rate and Method to be levied upon taxable property within the District. See the caption “SOURCES OF PAYMENT FOR THE BONDS — Special Taxes” and Item Title: 12.2
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Appendix A — “RATE AND METHOD OF APPORTIONMENT OF SPECIAL TAX.” See the caption “THE DISTRICT.”
Under the Indenture, the District has pledged to repay the Bonds and any Parity Bonds (as defined herein) from the Special Tax revenues remaining after the payment of certain annual Administrative Expenses of the District (the “Net Taxes”) and from other amounts in the Special Tax Fund (other than the Administrative Expense Account therein) established under the Indenture. The Special Taxes are the primary source of security for the repayment of the Bonds and any Parity Bonds. In the event that the Special Taxes are not paid when due, the only sources of funds available to pay the debt service on the Bonds and any Parity Bonds are amounts held by the Trustee in the Special Tax Fund, including amounts held in the Reserve Account therein, to the limited extent described in the Indenture. See the caption “SOURCES OF PAYMENT FOR THE BONDS — Reserve Account of the Special Tax Fund.”
Foreclosure Proceeds. The District has covenanted in the Indenture for the benefit of the owners of the Bonds and Parity Bonds that it will: (i) commence judicial foreclosure proceedings against parcels with delinquent Special Taxes in excess of $5,000 by the October 1 following the close of each Fiscal Year in which such Special Taxes were due; and (ii) commence judicial foreclosure proceedings against all parcels with delinquent Special Taxes by the October 1 following the close of each Fiscal Year in which it receives Special Taxes in an amount which is less than 95% of the total Special Tax levied; and (iii) diligently pursue such foreclosure proceedings until the delinquent Special Taxes are paid; provided that, notwithstanding the foregoing, the District may elect to defer foreclosure proceedings on any parcel so long as the amount in the Reserve Account is at least equal to the Reserve Requirement. See the caption “SOURCES OF PAYMENT FOR THE BONDS — Special Taxes — Proceeds of Foreclosure Sales.” There is no assurance that the property within the District can be sold for the appraised or assessed values described herein, or for a price sufficient to pay the principal of and interest on the Bonds in the event of a default in payment of Special Taxes by the current or future landowners within the District. See the caption “SPECIAL RISK FACTORS —Property Values.”
EXCEPT FOR THE NET TAXES, NO OTHER TAXES ARE PLEDGED TO THE PAYMENT OF THE 2023 BONDS. THE 2023 BONDS ARE NOT GENERAL OR SPECIAL OBLIGATIONS OF
THE CITY OR GENERAL OBLIGATIONS OF THE DISTRICT, BUT ARE LIMITED OBLIGATIONS
OF THE DISTRICT PAYABLE SOLELY FROM NET TAXES AND AMOUNTS HELD UNDER THE INDENTURE, AS MORE FULLY DESCRIBED HEREIN.
Appraisal Report
Kitty Siino & Associates, Inc. (the “Appraiser”) has conducted an appraisal (the “Appraisal Report”) with a date of value of June 12, 2023 (the “Date of Value”) of certain land and existing improvements within the District to provide an estimate of the market value of the fee simple interest of such land and improvements.
The Appraisal Report provides an estimate of the approximate market value of the property in the District subject to the levy of Special Taxes, assuming that development of the property as currently planned will consist of 256 residential units. Based on the contingencies, assumptions and limiting conditions in the Appraisal Report, the Appraiser concluded that the minimum market value of all of the parcels within the District subject to the Special Tax was $132,324,591 as of the Date of Value. A copy of the Appraisal Report is attached hereto as Appendix D.
The Appraisal Report is based upon a variety of assumptions and limiting conditions that are described in Appendix D. Neither the District nor the Underwriter makes any representation as to the accuracy of the Appraisal Report. See “THE DISTRICT — Appraisal Report” and “— Estimated Appraised Value-to-Lien Ratios.” There is no assurance that property within the District can be sold for the prices set forth in the Appraisal Report or that any parcel can be sold for a price sufficient to pay the Special Tax for that parcel in the event of a default in payment of Special Taxes by a property owner. See “THE DISTRICT,” “SPECIAL RISK FACTORS — Property Values” herein and Appendix D.
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 22
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Description of the 2023 Bonds
The 2023 Bonds will be issued and delivered as fully registered bonds, registered in the name of Cede & Co., as nominee of The Depository Trust Company, New York, New York (“DTC”), and will be available to actual purchasers of the 2023 Bonds (the “Beneficial Owners”) in the denominations of $5,000 or any integral multiple thereof, under the book-entry system maintained by DTC, only through brokers and dealers who are or act through DTC Participants as described herein. Beneficial Owners will not be entitled to receive physical delivery of the 2023 Bonds. In the event that the book-entry only system described herein is no longer used with respect to the 2023 Bonds, the 2023 Bonds will be registered and transferred in accordance with the Indenture.
See Appendix G — “BOOK-ENTRY ONLY SYSTEM.”
Principal of, premium, if any, and interest on the 2023 Bonds is payable by the Trustee to DTC.
Disbursement of such payments to DTC Participants is the responsibility of DTC and disbursement of such payments to the Beneficial Owners is the responsibility of DTC Participants. See Appendix G — “BOOK-ENTRY ONLY SYSTEM.”
The 2023 Bonds are subject to optional redemption, special mandatory redemption and mandatory sinking fund redemption prior to maturity as described herein. See the caption “THE 2023 BONDS — Redemption.” For a more complete description of the 2023 Bonds and the basic documentation pursuant to which they are being sold and delivered, see the caption “THE 2023 BONDS” and Appendix E — “SUMMARY OF THE INDENTURE.”
Tax Exemption
In the opinion of Stradling Yocca Carlson & Rauth, a Professional Corporation, Newport Beach, California (“Bond Counsel”), under existing statutes, regulations, rulings and judicial decisions, and assuming the accuracy of certain representations and compliance with certain covenants and requirements described herein, interest (and original issue discount) on the 2023 Bonds is excluded from gross income for federal income tax purposes and is not an item of tax preference for purposes of calculating the federal alternative minimum tax imposed on individuals. In the further opinion of Bond Counsel, interest (and original issue discount) on the 2023 Bonds is exempt from State of California personal income tax. See the caption “TAX MATTERS” with respect to tax consequences relating to the 2023 Bonds, including with respect to the alternative minimum tax imposed on certain large corporations for tax years beginning after December 31, 2022.
Set forth in Appendix C is the form of opinion of Bond Counsel expected to be delivered in connection with the issuance of the 2023 Bonds. For a more complete discussion of such opinion and certain tax consequences incident to the ownership of the 2023 Bonds, see the caption “TAX MATTERS.” Professionals Involved in the Offering
Wilmington Trust, National Association, Costa Mesa, California, will act as Trustee under the Indenture. Stifel, Nicolaus & Company, Incorporated (the “Underwriter”) is the Underwriter of the 2023 Bonds.
Certain proceedings in connection with the issuance and delivery of the Bonds are subject to the approval of Stradling Yocca Carlson & Rauth, a Professional Corporation, Newport Beach, California, Bond Counsel and Disclosure Counsel to the District in connection with the issuance of the Bonds. Certain legal matters will be passed on for the City and the District by Rutan & Tucker, LLP, Irvine, California, City Attorney, for the Underwriter by Kutak Rock LLP, Irvine, California, and for the Trustee by its counsel. Other professional services have been performed by Spicer Consulting Group, LLC, Murrieta, California, as Special Tax Consultant (the “Special Tax Consultant”), Urban Futures, Inc., Walnut Creek, California, as Municipal Advisor, and by Kitty Siino & Associates, Tustin, California, as Appraiser.
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 23
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August 2, 2023
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For information concerning circumstances in which certain of the above-mentioned professionals, advisors, counsel and consultants may have a financial or other interest in the offering of the 2023 Bonds, see the caption “FINANCIAL INTERESTS.”
Continuing Disclosure
Pursuant to a Continuing Disclosure Certificate to be executed by the District (the “District Continuing Disclosure Certificate”), the District will agree to provide, or cause to be provided, to the Municipal Securities Rulemaking Board’s Electronic Municipal Market Access system (“EMMA”), maintained on the Internet at http://emma.msrb.org, certain annual financial information and operating data and notices of certain enumerated events. These covenants are being made in order to assist the Underwriter in complying with subsection (b)(5) of Rule 15c2-12 adopted by the Securities and Exchange Commission (“Rule 15c2-12”).
See “CONTINUING DISCLOSURE,” Appendix F — “FORM OF DISTRICT CONTINUING DISCLOSURE CERTIFICATE.”
Parity Bonds for Refunding Purposes Only
Under the Indenture, the District may issue Parity Bonds secured by the Net Taxes on a parity with the Bonds but only to refund all or a portion of the Bonds or Parity Bonds. See the caption “SOURCES OF PAYMENT FOR THE BONDS — Parity Bonds for Refunding Purposes Only.” Other taxes and/or special assessments with liens equal in priority to the continuing lien of the Special Taxes may also be levied in the future on the property within the District, which could adversely affect the willingness of the landowners to pay the Special Taxes when due. See the captions “THE DISTRICT — Direct and Overlapping Debt” and “SPECIAL RISK FACTORS — Direct and Overlapping Indebtedness.” Bond Owners’ Risks
Certain events could affect the ability of the District to pay the principal of and interest on the 2023 Bonds when due. See the caption “SPECIAL RISK FACTORS” for a discussion of certain factors which should be considered, in addition to other matters set forth herein, in evaluating an investment in the 2023 Bonds. The purchase of the 2023 Bonds involves risks, and the 2023 Bonds may not be appropriate investments for some types of investors.
Other Information
This Official Statement speaks only as of its date, and the information contained herein is subject to change.
Brief descriptions of the 2023 Bonds and the Indenture are included in this Official Statement. Such descriptions and information do not purport to be comprehensive or definitive. All references herein to the Indenture, the 2023 Bonds and the Constitution and laws of the State, as well as the proceedings of the City Council, acting as the legislative body of the District, are qualified in their entirety by references to such documents, laws and proceedings, and with respect to the 2023 Bonds, by reference to the Indenture. Capitalized terms not otherwise defined in this Official Statement have the meanings set forth in Appendix E.
Copies of the Indenture and other documents and information are available for inspection and copies may be obtained from the City, 29844 Haun Road, Menifee, California, 92586, Attention: Assistant City Manager.
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 24
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FINANCING PLAN
Estimated Sources and Uses of Funds
The following table sets forth the expected sources and uses of 2023 Bond proceeds.
Sources of Funds
Principal Amount of 2023 Bonds $
Plus/Less Net Original Issue Premium/Discount
Total Sources $
Uses of Funds:
Acquisition and Construction Fund $
Costs of Issuance(1)
Reserve Account of the Special Tax Fund(2)
Total Uses $
(1) To pay costs of issuance of the 2023 Bonds, including legal fees, underwriter’s discount, printing costs, Appraiser, Special Tax Consultant and Trustee fees.
(2) Such amount, together with $502,191.20 on deposit in the Reserve Account has been calculated to equal the Reserve Requirement as of the date of issuance of the 2023 Bonds.
THE 2023 BONDS
General Provisions
The 2023 Bonds will be dated their date of delivery and will bear interest at the rates per annum set forth on the inside cover page hereof, payable semiannually on each March 1 and September 1, commencing March 1, 2024 (each, an “Interest Payment Date”), and will mature in the amounts and on the dates set forth on the inside cover page of this Official Statement. Interest will be calculated on the basis of a 360-day year comprised of twelve 30-day months. The 2023 Bonds will be issued in fully registered form in denominations of $5,000 or any integral multiple thereof.
Interest on any 2023 Bond will be payable from the Interest Payment Date next preceding the date of authentication of such 2023 Bond, unless: (i) such date of authentication is an Interest Payment Date, in which event interest will be payable from such date of authentication; (ii) the date of authentication is after the fifteenth day of the month preceding an Interest Payment Date, regardless of whether such day is a Business Day (each, a “Record Date”) but prior to the immediately succeeding Interest Payment Date, in which event interest will be payable from the Interest Payment Date immediately succeeding the date of authentication; or (iii) the date of authentication is prior to the close of business on the first Record Date occurring after the issuance of such 2023 Bond, in which event interest will be payable from the dated date of such 2023 Bond, as applicable; provided, however, that if at the time of authentication of such 2023 Bond, interest is in default, interest on such 2023 Bond will be payable from the last Interest Payment Date to which the interest has been paid or made available for payment or, if no interest has been paid or made available for payment on such 2023 Bond, interest on such 2023 Bond will be payable from its dated date.
Interest on any 2023 Bond will be paid to the person whose name appears as its owner in the registration books held by the Trustee on the close of business on the Record Date. Principal of, premium, if any, due upon redemption is payable upon presentation and surrender of the 2023 Bonds at the principal corporate trust office of the Trustee in Costa Mesa, California.
The 2023 Bonds will be issued as fully registered bonds and will be registered in the name of Cede & Co., as nominee of DTC. DTC will act as securities depository of the 2023 Bonds. Ownership interests in the 2023 Bonds may be purchased in book-entry form only in denominations of $5,000 and any integral multiple Item Title: 12.2
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thereof. So long as DTC is the securities depository all payments of principal and interest on the 2023 Bonds will be made to DTC and will be paid to the Beneficial Owners in accordance with DTC’s procedures and the procedures of DTC’s Participants. See APPENDIX G — “BOOK-ENTRY-ONLY SYSTEM.” In the event the 2023 Bonds are not held in book-entry form, interest will be paid by check of the Trustee mailed by first class mail, postage prepaid, to the Bondowner at its address on the registration books kept by the Trustee. Pursuant to a written request prior to the Record Date of a Bondowner of at least $1,000,000 in aggregate principal amount of 2023 Bonds or of any issue of Parity Bonds, payment will be made by wire transfer in immediately available funds to a designated account in the United States.
Debt Service Schedule
The following table presents the annual debt service on the Bonds (including sinking fund redemptions), assuming that there are no optional or special mandatory redemptions. See the caption “—Redemption” below.
Year Ending
September 1
2022 Bonds Debt
Service
2023 Bonds
Principal
2023 Bonds
Interest
Total 2023 Bonds
Debt Service
Total Aggregate
Debt Service
2024 $ 294,868.76 $ -- $ -- $ -- $ --
2025 299,368.76
2026 303,618.76
2027 312,618.76
2028 321,118.76
2029 324,118.76
2030 331,868.76
2031 339,118.76
2032 345,868.76
2033 352,118.76
2034 357,868.76
2035 368,118.76
2036 372,618.76
2037 381,618.76
2038 389,868.76
2039 396,993.76
2040 403,331.26
2041 413,881.26
2042 423,381.26
2043 431,831.26
2044 438,931.26
2045 444,956.26
2046 454,906.26
2047 463,512.50
2048 475,775.00
2049 485,975.00
2050 494,525.00
2051 501,425.00
2052 511,675.00
2053 --
Total $11,435,881.48 $
Redemption
Optional Redemption. The 2023 Bonds may be redeemed at the option of the District from any source of funds on any Interest Payment Date on or after September 1, 20__, in whole or in part, from such maturities Item Title: 12.2
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as are selected by the District and by lot within a maturity, at the following redemption prices, expressed as a percentage of the principal amount to be redeemed, together with accrued interest to the date of redemption:
Redemption Date Redemption Price
September 1, 20__ and March 1, 20__ 103%
September 1, 20__ and March 1, 20__ 102
September 1, 20__ and March 1, 20__ 101
September 1, 20__ and any Interest Payment Date thereafter 100 In the event that the District elects to redeem 2023 Bonds as provided above, the District will give written notice to the Trustee of its election to so redeem, the redemption date and the principal amount of the 2023 Bonds of each maturity to be redeemed. The notice to the Trustee will be given at least 30 but no more than 60 days prior to the redemption date, or by such later date as is acceptable to the Trustee.
Mandatory Sinking Fund Redemption. The 2023 Bonds maturing on September 1, 20__ (the “20__ Term Bonds”) will be called before maturity and redeemed, from the Sinking Fund Payments that have been deposited into the Redemption Account established under the Indenture, on September 1, 20__, and on each September 1 thereafter prior to maturity, in accordance with the schedule of Sinking Fund Payments set forth below. The 20__ Term Bonds so called for redemption will be selected by the Trustee by lot and will be redeemed at a redemption price for each redeemed 20__ Term Bond equal to the principal amount thereof, plus accrued interest to the redemption date, without premium, as follows:
Term Bonds Maturing September 1, 20__
Sinking Fund Redemption Date
(September 1) Sinking Fund Payments
$
*
* Maturity.
The 2023 Bonds maturing on September 1, 20__ (the “20__ Term Bonds”) will be called before maturity and redeemed, from the Sinking Fund Payments that have been deposited into the Redemption Account established under the Indenture, on September 1, 20__, and on each September 1 thereafter prior to maturity, in accordance with the schedule of Sinking Fund Payments set forth below. The 20__ Term Bonds so called for redemption will be selected by the Trustee by lot and will be redeemed at a redemption price for each redeemed 20__ Term Bond equal to the principal amount thereof, plus accrued interest to the redemption date, without premium, as follows:
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 27
Menifee Mayor and City Council
August 2, 2023
Page
510 of 729
9 4868-9690-6604v5/200299-0018
Term Bonds Maturing September 1, 20__
Sinking Fund Redemption Date
(September 1) Sinking Fund Payments
$
*
* Maturity.
If the District purchases Term Bonds during the Fiscal Year immediately preceding one of the sinking fund redemption dates specified above, the District will notify the Trustee at least 45 days prior to the redemption date as to the principal amount purchased, and the amount purchased will be credited at the time of purchase to the next Sinking Fund Payment for the Term Bond so purchased, to the extent of the full principal amount of the purchase. All Term Bonds purchased will be cancelled pursuant to the Indenture.
In the event of a partial optional redemption or special mandatory redemption of the Term Bonds, each of the remaining Sinking Fund Payments for such Term Bonds will be reduced, as nearly as practicable, on a pro rata basis.
Special Mandatory Redemption from Special Tax Prepayments. The 2023 Bonds are subject to special mandatory redemption as a whole or in part on a pro rata basis among maturities and by lot within a maturity, on any Interest Payment Date on or after March 1, 20__, and will be redeemed by the Trustee, from any amounts paid by the District to the Trustee and designated by the District as a prepayment of Special Taxes for one or more parcels in the District made in accordance with the Rate and Method (the “Prepayments”) deposited to the Redemption Account pursuant to the Indenture, plus amounts transferred from the Reserve Account pursuant to the Indenture, at the following redemption prices, expressed as a percentage of the principal amount to be redeemed, together with accrued interest to the redemption date:
Redemption Date Redemption Price
Any Interest Payment Date from March 1, 20__ through March 1, 20__ 103% September 1, 20__ and March 1, 20__ 102
September 1, 20__ and March 1, 20__ 101
September 1, 20__ and any Interest Payment Date thereafter 100 Prepayments and amounts released from the Reserve Account in connection with Prepayments will be allocated to the payment at maturity and redemption of Bonds and any Parity Bonds as nearly as practicable on a proportionate basis based on the outstanding principal amount of the Bonds and any Parity Bonds and such amounts shall be applied to redeem Bonds and Parity Bonds as nearly as practicable on a pro rata basis among maturities in increments of $5,000; provided, however, that, for Prepayments of less than $50,000, the District may specify in a Certificate of an Authorized Representative that Prepayments be applied to one or more maturities of the Bonds or Parity Bonds so long as there is delivered to the Trustee a Certificate of the Independent Financial Consultant that, following such application of the Prepayments, the maximum Special Taxes that may be levied in each Fiscal Year on Taxable Property is not less than 110% of Annual Debt Service in the Bond Year that begins in such Fiscal Year.
See the caption “SPECIAL RISK FACTORS — Potential Early Redemption of 2023 Bonds from Prepayments or Community Facilities District Bond Proceeds” for a discussion of the potential for a lower than expected yield on the 2023 Bonds as a result of a special mandatory redemption from prepayment of Special Taxes or proceeds of bonds of other community facilities districts.
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 28
Menifee Mayor and City Council
August 2, 2023
Page
511 of 729
10 4868-9690-6604v5/200299-0018
Notice of Redemption. So long as the 2023 Bonds are held in book-entry form, notice of redemption will be sent by the Trustee to DTC and not to the Beneficial Owners of the 2023 Bonds under the DTC book- entry only system. Neither the District nor the Trustee is responsible for notifying the Beneficial Owners, who are to be notified in accordance with the procedures in effect for the DTC book-entry system. See Appendix G — “BOOK-ENTRY ONLY SYSTEM.”
The Trustee will give notice, in the name of the District, of the redemption of 2023 Bonds. Such notice of redemption will: (i) specify the CUSIP numbers (if any), the 2023 Bond numbers and the maturity date or dates of the 2023 Bonds selected for redemption, except that where all of the 2023 Bonds are subject to redemption, or all of the 2023 Bonds of one maturity are to be redeemed, the 2023 Bond numbers of such issue need not be specified; (ii) state the date fixed for redemption and surrender of the 2023 Bonds to be redeemed; (iii) state the redemption price; (iv) state the place or places where the 2023 Bonds are to be redeemed; (v) in the case of 2023 Bonds to be redeemed only in part, state the portion of such 2023 Bond which is to be redeemed; (vi) state the date of issue of the 2023 Bonds as originally issued; (vii) state the rate of interest borne by each 2023 Bond being redeemed; and (viii) state any other descriptive information needed to identify accurately the 2023 Bonds being redeemed as specified by the Trustee. Such notice will further state that on the date fixed for redemption, there will become due and payable on each 2023 Bond, or portion thereof called for redemption, the principal thereof, together with any premium, and interest accrued to the redemption date, and that from and after such date, interest thereon will cease to accrue and be payable. At least 30 days but no more than 45 days prior to the redemption date, the Trustee will mail a copy of such notice of redemption, by first class mail, postage prepaid, to the respective Owners thereof at their addresses appearing on the Bond Register, and to the original purchaser of any 2023 Bonds; provided, however, so long as the 2023 Bonds are registered in the name of the Nominee, such notice shall be given in such manner as complies with the requirements of the Depository.
The actual receipt by the Owner of any 2023 Bond of notice of such redemption is not a condition precedent to redemption, and neither the failure to receive nor any defect in such notice will affect the validity of the proceedings for the redemption of such 2023 Bonds, or the cessation of interest on the redemption date. A certificate by the Trustee that notice of such redemption has been given as provided in the Indenture will be conclusive as against all parties and the Owner is not entitled to show that he or she failed to receive notice of such redemption.
In addition to the foregoing notice, further notice will be given by the Trustee as set out below, but no defect in said further notice nor any failure to give all or any portion of such further notice will in any manner defeat the effectiveness of a call for redemption if notice thereof is given as above prescribed.
Each further notice of redemption will be sent not later than the date that notice of redemption is given to the Owners pursuant to the Indenture by first class mail or facsimile to the Depository and to any other registered securities depositories then in the business of holding substantial amounts of obligations of types comprising the 2023 Bonds as determined by the Trustee and to one or more of the national information services that the Trustee determines are in the business of disseminating notice of redemption of obligations such as the 2023 Bonds.
Upon the payment of the redemption price of any 2023 Bonds being redeemed, each check or other transfer of funds issued for such purpose will to the extent practicable bear the CUSIP number identifying, by issue and maturity, the 2023 Bonds being redeemed with the proceeds of such check or other transfer.
With respect to any notice of optional redemption of 2023 Bonds, such notice may state that such redemption is conditional upon the receipt by the Trustee on or prior to the date fixed for such redemption of moneys sufficient to pay the principal of, premium, if any, and interest on such 2023 Bonds to be redeemed and that, if the District determines that such moneys will not be so received on or prior to the redemption date, said notice shall be of no force and effect and the Trustee shall not be required to redeem such 2023 Bonds. If any condition stated in the redemption notice for an optional redemption shall not have been satisfied on or prior to the redemption date: (i) the redemption notice shall be of no force and effect, (ii) the District shall not be required to redeem such 2023 Bonds, (iii) the redemption shall not be made, and (iv) the Trustee shall within a reasonable Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 29
Menifee Mayor and City Council
August 2, 2023
Page
512 of 729
11 4868-9690-6604v5/200299-0018
time thereafter give notice to the persons in the manner in which the conditional redemption notice was given that such condition or conditions were not met and that the redemption was canceled.
Selection of 2023 Bonds for Redemption. If less than all of the 2023 Bonds Outstanding are to be redeemed, the portion of any 2023 Bond of a denomination of more than $5,000 to be redeemed will be in the principal amount of $5,000 or an integral multiple thereof. In selecting portions of such 2023 Bonds for redemption, the Trustee will treat such 2023 Bonds, as applicable, as representing that number of 2023 Bonds of $5,000 denominations which is obtained by dividing the principal amount of such 2023 Bonds to be redeemed in part by $5,000. The procedure for the selection of Parity Bonds for redemption may be modified as set forth in the Supplemental Indenture for such Parity Bonds. The Trustee will promptly notify the District in writing of the 2023 Bonds, or portions thereof, selected for redemption.
Partial Redemption of 2023 Bonds. Upon surrender of any 2023 Bond to be redeemed in part only, the District will execute and the Trustee will authenticate and deliver to the Owner, at the expense of the District, a new 2023 Bond or 2023 Bonds of authorized denominations equal in aggregate principal amount to the unredeemed portion of the 2023 Bonds surrendered, with the same interest rate and the same maturity.
Effect of Notice and Availability of Redemption Money. Notice of redemption having been duly given, as provided in the Indenture, and the amount necessary for the redemption having been made available for that purpose and being available therefor on the date fixed for such redemption: (i) the 2023 Bonds, or portions thereof, designated for redemption will, on the date fixed for redemption, become due and payable at the redemption price thereof as provided in the Indenture, anything in the Indenture or in the 2023 Bonds to the contrary notwithstanding; (ii) upon presentation and surrender thereof at the office of the Trustee, the redemption price of such 2023 Bonds will be paid to the Owners thereof; (iii) as of the redemption date the 2023 Bonds, or portions thereof so designated for redemption will be deemed to be no longer Outstanding and such 2023 Bonds, or portions thereof, will cease to bear further interest; and (iv) as of the date fixed for redemption no Owner of any of the 2023 Bonds, or portions thereof so designated for redemption will be entitled to any of the benefits of the Indenture, or to any other rights, except with respect to payment of the redemption price and interest accrued to the redemption date from the amounts so made available.
Registration, Transfer and Exchange
Registration. The Trustee will keep sufficient books for the registration and transfer of the 2023 Bonds.
The ownership of the 2023 Bonds will be established by the Bond registration books held by the Trustee.
Transfer or Exchange. Subject to the limitations set forth in the following paragraph, the registration of any 2023 Bond may, in accordance with its terms, be transferred upon the Bond Register by the person in whose name it is registered, in person or by his or her duly authorized attorney, upon surrender of such 2023 Bond for cancellation at the office of the Trustee, accompanied by delivery of written instrument of transfer in a form acceptable to the Trustee and duly executed by the Owner or his or her duly authorized attorney. 2023 Bonds may be exchanged at the office of the Trustee for a like aggregate principal amount of 2023 Bonds for other authorized denominations of the same maturity and issue. The Trustee may not collect from the Owner any charge for any new 2023 Bond issued upon any exchange or transfer, but will require the Owner requesting such exchange or transfer to pay any tax or other governmental charge required to be paid with respect to such exchange or transfer. Whenever any 2023 Bonds are surrendered for registration of transfer or exchange, the District will execute and the Trustee will authenticate and deliver a new 2023 Bond or 2023 Bonds, as applicable, of the same issue and maturity, for a like aggregate principal amount; provided that the Trustee is not required to register transfers or make exchanges of: (i) 2023 Bonds for a period of 15 days next preceding any selection of the 2023 Bonds to be redeemed; or (ii) any 2023 Bonds chosen for redemption.
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 30
Menifee Mayor and City Council
August 2, 2023
Page
513 of 729
12 4868-9690-6604v5/200299-0018
SOURCES OF PAYMENT FOR THE BONDS
Limited Obligations
The 2023 Bonds are special, limited obligations of the District payable only from amounts pledged under the Indenture and from no other sources. The 2023 Bonds are secured under the Indenture by a pledge of and lien upon Net Taxes and all moneys in the Special Tax Fund (other than the Administrative Expense Account therein) on a parity with the 2022 Bonds.
The Special Taxes are the primary source of security for the repayment of the Bonds. Under the Indenture, the District has pledged to repay the Bonds from the Net Taxes (which are Special Tax revenues remaining after the payment of the annual Administrative Expenses in an amount not to exceed the Administrative Expenses Cap (as defined in the Indenture)) and from amounts held in the Special Tax Fund (other than amounts held in the Administrative Expense Account therein). Special Tax revenues include the proceeds of the annual Special Tax levy received by the District, including any scheduled payments and Prepayments thereof, and the net proceeds of the redemption of delinquent Special Taxes or sale of property sold as a result of foreclosure of the lien of delinquent Special Taxes to the amount of said lien, and penalties and interest thereon; provided that any delinquent Special Tax sold to an independent third-party or to the City for 100% of the delinquent amount will no longer be pledged under the Indenture to the payment of the Bonds or Parity Bonds.
In the event that the Special Tax revenues are not received when due, the only sources of funds available to pay the debt service on the Bonds are amounts held by the Trustee in the Special Tax Fund (other than the Administrative Expense Account therein), including amounts held in the Reserve Account therein, for the exclusive benefit of the Owners of the Bonds.
NEITHER THE FAITH AND CREDIT NOR THE TAXING POWER OF THE CITY, THE COUNTY,
THE STATE OR ANY POLITICAL SUBDIVISION THEREOF IS PLEDGED TO THE PAYMENT OF THE BONDS. EXCEPT FOR THE NET TAXES, NO OTHER TAXES ARE PLEDGED TO THE PAYMENT OF THE BONDS. THE BONDS ARE NOT GENERAL OR SPECIAL OBLIGATIONS OF THE CITY BUT ARE
LIMITED OBLIGATIONS OF THE DISTRICT PAYABLE SOLELY FROM THE NET TAXES AND OTHER AMOUNTS PLEDGED UNDER THE INDENTURE AS MORE FULLY DESCRIBED HEREIN.
Special Taxes
Authorization and Pledge. In accordance with the provisions of the Act, the City established the District on June 2, 2021 for the purpose of financing of various public improvements required in connection with the proposed development within the District. At a special election held on June 2, 2021, the qualified elector within the District authorized the District to incur indebtedness in an amount not to exceed $17,000,000 for the District and the levy of the Special Taxes on property within the District to repay such bonds and to finance the Facilities (as defined below). The qualified elector within the District also voted to approve the Rate and Method which authorized the Special Tax to be levied to repay indebtedness of the District, including the Bonds.
The Bonds will be repaid only from annual Net Taxes derived from the levy and collection of Special Taxes pursuant to the Rate and Method. The Rate and Method permits the prepayment of Special Taxes for an Assessor’s Parcel, and any such Prepayments will be applied to redeem Bonds and Parity Bonds, if any. The Net Taxes collected from the annual Special Tax levy and the proceeds of any Prepayment have been pledged under the Indenture to the repayment of the Bonds and Parity Bonds.
The Special Taxes levied in any Fiscal Year may not exceed the maximum rates authorized pursuant to the Rate and Method. See “— Rate and Method of Apportionment of Special Tax” and Appendix A — “RATE AND METHOD OF APPORTIONMENT OF SPECIAL TAX.” There is no assurance that the Net Taxes will, Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 31
Menifee Mayor and City Council
August 2, 2023
Page
514 of 729
13 4868-9690-6604v5/200299-0018
in all circumstances, be adequate to pay the principal of and interest on the Bonds when due. See the caption “SPECIAL RISK FACTORS — Insufficiency of Special Tax Revenues.” Rate and Method of Apportionment of Special Tax. The Rate and Method applicable to the District is contained in Appendix A — “RATE AND METHOD OF APPORTIONMENT OF SPECIAL TAX.” The meaning of the defined terms used in this section are as set forth in Appendix A.
In general, the Rate and Method imposes a different Maximum Special Tax on Taxable Property within the District depending upon whether such Taxable Property is classified as: (i) “Developed Property” (in general, Taxable Property not classified as Approved Property, Undeveloped Property, Provisional Undeveloped Property that are not Exempt Property pursuant to the provisions of the Rate and Method and which is included in a Final Map recorded prior to the January 1 preceding the Fiscal Year in which the Special Tax is being levied and a building permit for new construction has been issued on or before May 1 preceding such Fiscal Year), (ii) “Approved Property” (in general, parcels of Taxable Property included in a Final Map recorded prior to the January 1 preceding the Fiscal Year in which the Special Tax is being levied, that have an assigned Assessor’s Parcel Number from the County shown on an Assessor’s Parcel Map for the individual lot included on the Final Map, but for which no building permit was issued on or before May 1 preceding such Fiscal Year), (iii) “Undeveloped Property” (in general, Taxable Property that is not “Developed Property,” “Approved Property” or “Provisional Undeveloped Property”) or (iv) “Provisional Undeveloped Property” (in general, Taxable Property that would otherwise be classified as Exempt Property but cannot be classified as Exempt Property because to do so would reduce the Acreage of all Taxable Property below the required minimum Acreage set forth in the Rate and Method). Different Maximum Special Taxes are also applicable to Developed Property depending upon: (a) its status as either “Residential Property” or “Non-Residential Property,” (b) in the case of Residential Property, its status as “Single Family Residential Property” or “Multifamily Property” or (c) in the case of Single Family Residential Property, the Building Square Footage of the structure.
Pursuant to the Rate and Method the District is required to determine the “Special Tax Requirement” for each Fiscal Year. The Special Tax Requirement for the District is the amount required in any Fiscal Year to pay: (i) the debt service or the periodic costs on all outstanding Bonds and Parity Bonds due in the calendar year that commences in such Fiscal Year, (ii) Administrative Expenses, (iii) the costs associated with the release of funds from an escrow account, (iv) any amount equal to establish or replenish any reserve funds established in association with the Bonds and Parity Bonds, (v) an amount up to any anticipated shortfall due to Special Tax delinquencies, (vi) for the collection or accumulation of funds for the acquisition or construction of facilities authorized by the District or the payment of debt service on Bonds or Parity Bonds anticipated to be issued, provided that the inclusion of such amount does not cause an increase in the levy of Special Tax on Approved Property or Undeveloped Property, and, less (vii) any amounts available to pay debt service or other periodic costs on the Bonds and Parity Bonds pursuant to the Indenture.
The Special Tax Requirement for the District is to be satisfied first by levying the Special Tax Proportionately on each Assessor’s Parcel of Developed Property at up to 100% of the applicable Assigned Special Tax. If additional moneys are needed to satisfy the Special Tax Requirement, the Special Tax will be levied Proportionately on each Assessor’s Parcel of Approved Property at up to 100% of the Maximum Special Tax applicable to each such Assessor’s Parcel. If additional moneys are still needed to satisfy the Special Tax Requirement, the Special Tax will be levied Proportionately on each Assessor’s Parcel of Undeveloped Property up to 100% of the Maximum Special Tax applicable to each such Assessor’s Parcel. If additional moneys are needed to satisfy the Special Tax Requirement, the Special Tax on each Assessor’s Parcel of Developed Property for which the Maximum Special Tax is the Backup Special Tax will be increased in equal percentages from the Assigned Special Tax up to 100% of the Backup Special Tax. Finally, if additional moneys are needed to satisfy the Special Tax Requirement, the Special Tax will be levied Proportionately on each Assessor’s Parcel of Provisional Undeveloped Property at up to 100% of the Maximum Special Tax applicable to each such Assessor’s Parcel. Notwithstanding the above, under no circumstances will the Special Tax levied against any Assessor’s Parcel of Residential Property as a result of a delinquency in the payment of the Special Tax Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 32
Menifee Mayor and City Council
August 2, 2023
Page
515 of 729
14 4868-9690-6604v5/200299-0018
applicable to any other Assessor’s Parcel be increased by more than 10% above the amount that would have been levied in that Fiscal Year had there never been any such delinquency or default.
Notwithstanding the foregoing, all Taxable Property is currently classified as Developed Property.
There are certain parcels which are expected to remain as open space when development in the District is complete. Such parcels are Exempt Property but may be classified as Provisional Undeveloped Property in the future, if necessary, in accordance with the Rate and Method.
For Fiscal Year 2023-24, the Assigned Special Tax for Developed Property within the District that is classified as Single Family Residential Property ranges from $2,551.06 per taxable unit with a Building Square Footage of less than 2,100 square feet to $3,174.26 per taxable unit with a Building Square Footage of greater than 3,101 square feet. On each July 1 the Assigned Special Tax rates for Developed Property shall be increased by two percent (2.00%) of the amount in effect in the prior Fiscal Year.
Table 1 below sets forth the Assigned Special Tax for Developed Property, the projected Fiscal Year 2023-24 Special Tax levy and the percent of such levy based on land use type.
TABLE 1
CITY OF MENIFEE
COMMUNITY FACILITIES DISTRICT NO. 2021-1 (BANNER PARK)
ASSIGNED SPECIAL TAX RATES FOR FISCAL YEAR 2023-24
Land Use Type
Residential
Floor Area
(sq. ft.)
Maximum/
Assigned
Special Tax
Rates
Fiscal Year
2023-24(1)
Estimated
Special Tax
Levy Rates
Fiscal Year
2023-24*
Percent of
Maximum/
Assigned
Rate*
No. of
Units
Aggregate
Estimated
Special Tax
Revenues
Fiscal Year
2023-24(2)*
Percent
of Total
Residential Property < 2,100 $ 2,551.06 $ 0.00 00.0% 0 $ 0.00 00.0% Residential Property 2,100-2,300 2,616.60 2,616.60 100.0 41 107,280.60 14.9 Residential Property 2,301-2,500 2,641.56 2,641.56 100.0 70 184,909.20 25.8 Residential Property 2,501 - 2,700 2,665.50 2,665.50 100.0 20 53,310.00 7.4 Residential Property 2,701 - 2,900 2,797.62 2,797.62 100.0 55 153,869.10 21.4 Residential Property 2,901 - 3,100 3,059.80 3,059.80 100.0 31 94,853.80 13.2 Residential Property > 3,101 3,174.26 3,174.26 100.0 39 123,796.14 17.2 Multifamily Property N/A 18,264.22 0.00 0.0 0 0.00 0.0 Non-Residential Property N/A 18,264.22 0.00 0.0 0 0.00 0.0 Total 256 $ 718,018.84 100.0%
* Preliminary, subject to change.
(1) Reflects the Assigned Special Tax rate for Developed Property and the Maximum Special Tax for Multifamily Property and Non- Residential Property.
(2) Includes the Fiscal Year 2023-24 Administrative Expenses Cap of $31,212.00. The Administrative Expenses Cap escalates at 2% per Fiscal Year.
Source: Spicer Consulting Group, LLC.
Backup Special Tax Rates. The Backup Special Tax for an Assessor’s Parcel within a Final Map classified or to be classified as Single Family Property is calculated by multiplying the Maximum Special Tax per acre of Undeveloped Property by the acreage of Single Family Residential Property expected to exist in such Final Map at the time of calculation and dividing such product by the number of residential units expected to exist in such Final Map at the time of calculation.
In the event any portion of the Final Map is changed or modified, the Backup Special Tax for all Assessor’s Parcels within such changed or modified area shall be $18,264.22 per acre for Fiscal Year 2023-24.
Notwithstanding the foregoing, the Backup Special Tax for an Assessor’s Parcel of Developed Property for which a certificate of occupancy has been granted may not be revised. In the event any superseding Final Map is recorded as a Final Map within the boundaries of the District, the Backup Special Tax for all Assessor’s Parcels Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 33
Menifee Mayor and City Council
August 2, 2023
Page
516 of 729
15 4868-9690-6604v5/200299-0018
within such Final Map shall be $18,264.22 per acre for Fiscal Year 2023-24. The Backup Special Tax shall not apply to Multifamily Residential Property or Non-Residential Property. On each July 1 the Backup Special Tax rate will increase by two percent (2.00%) of the amount in effect in the prior Fiscal Year.
Prepayment of Special Taxes. The Maximum Special Tax obligation may be prepaid and permanently satisfied for (i) Assessor’s Parcels of Developed Property, (ii) Assessor’s Parcels of Approved Property or Undeveloped Property for which a building permit has been issued, (iii) Approved Property or Undeveloped Property for which a building permit has not been issued, and (iv) Assessor’s Parcels of Provisional Undeveloped Property that are not Exempt Property. In addition, the Maximum Special Tax obligation for an Assessor’s Parcel of Developed Property, Approved Property, Undeveloped Property or Provisional Undeveloped Property may be partially prepaid. The Prepayment amount is calculated based on the sum of the Bond Redemption Amount, the Redemption Premium, the Future Facilities Amount, the Defeasance Amount, Administrative Fees and Expenses and less a credit for the resulting reduction in the Reserve Requirement for the Bonds (if any), all as specified in Section G of the Rate and Method attached as Appendix A. Prepayments of Special Taxes will be applied to effect an extraordinary redemption of Bonds and Parity Bonds. See “THE BONDS — Redemption — Special Mandatory Redemption from Special Tax Prepayments.” Estimated Debt Service Coverage. Based on the number of building permits issued within the District as of May 1, 2023 (the date pursuant to the Rate and Method for determining the number of parcels of Developed Property within the District for the following Fiscal Year), all 256 parcels within the District will be classified as Developed Property for the Fiscal Year 2023-24 Special Tax levy. Annual Debt Service for the Bonds in each future Fiscal Year has been structured so that Special Taxes levied on all Developed Property (256 parcels) at the Assigned Special Tax rates, assuming no delinquencies, will generate in each Fiscal Year not less than 110% of debt service payable with respect to the Bonds in the calendar year that begins in that Fiscal Year, plus the Administrative Expenses Cap. Actual collections of the Special Tax will depend on the amount of Special Tax delinquencies. Both the Assigned Special Tax rates and the Administrative Expenses Cap escalate by 2% each Fiscal Year.
Limitation on Special Tax Levy and Potential Impact on Coverage. Pursuant to Section 53321(d) of the Government Code, the special tax levied against any assessor’s parcel for which an occupancy permit for private residential use has been issued will not be increased as a consequence of delinquency or default by the owner of any other assessor’s parcel within the District by more than 10% above the amount that would have been levied in that fiscal year had there never been any such delinquencies or defaults. As a result, it is possible that the District may not be able to increase the tax levy to the Assigned Special Tax in all years.
Levy, Collection and Application of Special Taxes. The Special Taxes are levied and collected by the Treasurer-Tax Collector of the County in the same manner and at the same time as ad valorem property taxes, although it is possible that the District could elect to provide handbills to property owners within the District.
The District has covenanted in the Indenture that each year it will levy Special Taxes up to the maximum rates permitted under the Rate and Method in an amount sufficient, together with other amounts on deposit in the Special Tax Fund, to pay the principal of and interest on any Outstanding Bonds and Parity Bonds, to replenish the Reserve Account to the Reserve Requirement and to pay Administrative Expenses.
The District will make certain covenants in the Indenture which are intended to ensure that the current maximum Special Tax rates and method of collection of the Special Taxes are not altered in a manner that would impair the District’s ability to collect sufficient Special Taxes to pay debt service on the Bonds, Parity Bonds and Administrative Expenses when due.
First, the District has covenanted in the Indenture that it will take no actions that would discontinue or cause the discontinuance of the Special Tax levy or the District’s authority to levy the Special Tax for so long as the Bonds and any Parity Bonds are Outstanding.
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 34
Menifee Mayor and City Council
August 2, 2023
Page
517 of 729
16 4868-9690-6604v5/200299-0018
Second, the District has covenanted in the Indenture, to the maximum extent that the law permits it to do so, not to initiate proceedings to reduce the maximum Special Tax rates for the District, unless, in connection therewith, the District receives a certificate from one or more Independent Financial Consultants which, when taken together, certify that: (i) such changes do not reduce the maximum Special Taxes that may be levied in each year on property within the District to an amount which is less than the Administrative Expense Cap plus 110% of the Annual Debt Service due in each corresponding future Bond Year with respect to the Bonds and Parity Bonds Outstanding as of the date of such proposed reduction; and (ii) the District is not delinquent in the payment of the principal of or interest on the Bonds or any Parity Bonds.
Third, the District has covenanted in the Indenture that, in the event that any initiative is adopted by the qualified electors within the District which purports to reduce the maximum Special Tax below the levels specified in the preceding paragraph or to limit the power of the District to levy the Special Taxes for the purposes set forth in the Indenture, it will commence and pursue legal action in order to preserve its ability to comply with such covenants. The District can provide no assurance that any such legal action will be successful. See the caption “SPECIAL RISK FACTORS — Proposition 218.”
Fourth, the District has covenanted in the Indenture that it will not adopt any policy pursuant to the Act permitting the tender of Bonds or Parity Bonds in full payment or partial payment of any Special Taxes unless the District has first received a certificate from an Independent Financial Consultant that the acceptance of such a tender will not result in the District having insufficient Net Taxes to pay the principal of and interest on the Bonds and Parity Bonds when due.
See Appendix E under the caption “COVENANTS AND WARRANTY.” Although the Special Taxes constitute liens on taxed parcels within the District, they do not constitute a personal indebtedness of the owners of property within the District. Moreover, other liens for taxes and assessments already exist on the property located within the District and others could come into existence in the future in certain situations without the consent or knowledge of the City or the landowners in the District. See the captions “THE DISTRICT — Direct and Overlapping Debt” and “SPECIAL RISK FACTORS — Direct and Overlapping Indebtedness.” There is no assurance that property owners will be financially able to pay the annual Special Taxes or that they will pay such taxes even if financially able to do so, all as more fully described under the caption “SPECIAL RISK FACTORS.”
Proceeds of Foreclosure Sales. The net proceeds received following a judicial foreclosure sale of property within the District resulting from a property owner’s failure to pay the Special Taxes when due are included within the Net Taxes pledged to the payment of principal of and interest on the Bonds and any Parity Bonds under the Indenture.
Pursuant to Section 53356.1 of the Act, in the event of any delinquency in the payment of any Special Tax or receipt by the District of Special Taxes in an amount which is less than the Special Taxes levied, the City Council, as the legislative body of the District, may order that Special Taxes be collected by a Superior Court action to foreclose the lien within specified time limits. In such an action, the real property subject to the unpaid amount may be sold at a judicial foreclosure sale. Under the Act, the commencement of judicial foreclosure following the nonpayment of a Special Tax is not mandatory. However, the District has covenanted in the Indenture for the benefit of the owners of the Bonds and any Parity Bonds that it will: (i) commence judicial foreclosure proceedings against parcels with delinquent Special Taxes in excess of $5,000 by the October 1 following the close of each Fiscal Year in which such Special Taxes were due; and (ii) commence judicial foreclosure proceedings against all parcels with delinquent Special Taxes by the October 1 following the close of each Fiscal Year in which it receives Special Taxes in an amount which is less than 95% of the total Special Tax levied; and (iii) diligently pursue such foreclosure proceedings until the delinquent Special Taxes are paid; provided that, notwithstanding the foregoing, the District may elect to defer foreclosure proceedings on any parcel so long as the amount in the Reserve Account is at least equal to the Reserve Requirement.
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 35
Menifee Mayor and City Council
August 2, 2023
Page
518 of 729
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The District has covenanted in the Indenture that it will deposit the net proceeds of any foreclosure in the Special Tax Fund and will apply such proceeds remaining after the payment of Administrative Expenses to make current payments of principal and interest on the Bonds and any Parity Bonds, to bring the amount on deposit in the Reserve Account up to the Reserve Requirement and to pay any delinquent installments of principal or interest due on the Bonds and any Parity Bonds. See APPENDIX E — “SUMMARY OF THE INDENTURE — COVENANTS AND WARRANTY — Covenants” herein.
If foreclosure is necessary and other funds (including amounts in the Reserve Account) have been exhausted, debt service payments on the Bonds could be delayed unless the foreclosure proceedings produce sufficient net foreclosure sale proceeds. Judicial foreclosure actions are subject to the normal delays associated with court cases and may be further slowed by bankruptcy actions, involvement by agencies of the federal government and other factors beyond the control of the City and the District. See the caption “SPECIAL RISK FACTORS — Enforcement Delays – Bankruptcy.” Moreover, no assurances can be given that the real property subject to foreclosure and sale at a judicial foreclosure sale will be sold or, if sold, that the net proceeds of such sale will be sufficient to pay any delinquent Special Tax installment. See the caption “SPECIAL RISK FACTORS — Property Values.” Although the Act authorizes the District to cause such an action to be commenced and diligently pursued to completion, the Act does not impose on the District or the City any obligation to purchase or acquire any lot or parcel of property sold at a foreclosure sale if there is no other purchaser at such sale. The Act provides that, in the case of a delinquency, the Special Tax will have the same lien priority as is provided for ad valorem taxes.
Collection of Special Taxes and Flow of Funds. The Special Taxes will be levied and collected by the Treasurer-Tax Collector of the County in the same manner and at the same time as ad valorem property taxes, although it is possible that the District could elect to provide handbills to property owners within the District.
When the County apportions Special Taxes to the District, the District will transmit the Special Taxes to the Trustee for deposit in the Special Tax Fund established by the Indenture.
Except for Prepayments, which will be deposited to the Redemption Account of the Special Tax Fund, the Trustee will, on each date on which the Special Taxes are received from the District, deposit the Special Taxes in the Special Tax Fund to be held in trust for the Owners. The Trustee will transfer the Special Taxes on deposit in the Special Tax Fund on the dates, in the amounts and in the following order of priority, to:
First: To the Administrative Expense Account in an amount up to the Administrative Expenses Cap.
Second: To the Interest Account, an amount such that the balance in the Interest Account one Business Day prior to each Interest Payment Date is equal to the installment of interest due on the Bonds and any Parity Bonds on said Interest Payment Date and any installment of interest due on a previous Interest Payment Date which remains unpaid. Moneys in the Interest Account will be used for the payment of interest on the Bonds and any Parity Bonds as the same become due.
Third: To the Principal Account, an amount such that the balance in the Principal Account one Business Day prior to September 1 of each year, commencing September 1, 2024, is equal the principal payment due on the Bonds and any Parity Bonds maturing on such September 1 and any principal payment due on a previous September 1 which remains unpaid. Moneys in the Principal Account shall be used for the payment of the principal of such Bonds and any Parity Bonds as the same become due at maturity.
Fourth: To the Redemption Account, the amount needed to make the balance in the Redemption Account one Business Day prior to each September 1 on which a Sinking Fund Payment is due equal to the Sinking Fund Payment due on any Outstanding Bonds and Parity Bonds on such September 1; provided, however, that, if amounts in the Special Tax Fund are Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 36
Menifee Mayor and City Council
August 2, 2023
Page
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inadequate to make the foregoing transfers, then any deficiency will be made up by an immediate transfer from the Reserve Account, if funded, pursuant to the Indenture; and thereafter, to pay the principal and premium, if any, due in connection with an optional redemption of Bonds or Parity Bonds.
Fifth: To the Reserve Account of the Special Tax Fund to the extent necessary to replenish the Reserve Account to the Reserve Requirement.
Sixth: To the Administrative Expense Account of the Special Tax Fund the amount of any Administrative Expenses for the current Bond Year in excess of the Administrative Expenses Cap, as directed by the City.
Seventh: To the Rebate Fund established by the Indenture to the extent directed by the City pursuant to the Indenture.
Eighth: To the Surplus Fund established by the Indenture such remaining amounts in the Special Tax Fund after making the foregoing transfers on September 1.
Reserve Account of the Special Tax Fund
In order to secure further the payment of principal of and interest on the Bonds, the District is required, to maintain in the Reserve Account an amount equal to the Reserve Requirement.
Pursuant to the Indenture, the “Reserve Requirement” is that amount as of any date of calculation, equal to the lesser of: (i) 10% of the initial principal amount of the Bonds and Parity Bonds, if any; (ii) Maximum Annual Debt Service on the then Outstanding Bonds and Parity Bonds, if any; (iii) 125% of average Annual Debt Service on the then Outstanding Bonds and Parity Bonds.
The Indenture provides that the Reserve Requirement shall not exceed $490,960.32, which was the Reserve Requirement as of the date of issuance of the 2022 Bonds, except in connection with the issuance of Parity Bonds. The 2023 Bonds are being issued as Parity Bonds and the Reserve Requirement will be increased above $490,960.32 in connection with the issuance of the 2023 Bonds.
There is currently $502,191.20 on deposit in the Reserve Account. Upon the issuance of the 2023 Bonds, the Reserve Requirement will be $_________. On the date of issuance of the 2023 Bonds, the District will deposit $__________ from proceeds of the 2023 Bonds into the Reserve Account to increase the amount therein to the Reserve Requirement. The Reserve Requirement may be satisfied in whole or in part by cash, a Reserve Policy (as defined in the Indenture), or a combination thereof.
Subject to the limits on the maximum annual Special Tax levy set forth in the Rate and Method and in the Indenture, the District has covenanted in the Indenture to levy Special Taxes in an amount sufficient, in light of the other intended uses of the Special Tax proceeds, to maintain the balance in the Reserve Account at the Reserve Requirement. Amounts in the Reserve Account are to be applied: (i) to pay debt service on the Bonds, or any Parity Bonds, including Sinking Fund Payments, to the extent that other monies are not available therefor; (ii) to redeem Bonds or Parity Bonds in the event of prepayment of Special Taxes, to optionally redeem Bonds or Parity Bonds or in connection with a partial defeasance of Bonds or Parity Bonds, in accordance with the Indenture; and (iii) to pay any rebate requirements. See Appendix E under the caption “CREATION OF FUNDS AND APPLICATION OF PROCEEDS — Reserve Account of the Special Tax Fund.” No Teeter Plan
Although the Riverside County Board of Supervisors has adopted the Alternative Method of Distribution of Tax Levies and Collections and of Tax Sale Proceeds (the “Teeter Plan”) which allows each Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 37
Menifee Mayor and City Council
August 2, 2023
Page
520 of 729
19 4868-9690-6604v5/200299-0018
entity levying secured property taxes in the County to draw on the amount of property taxes levied rather than the amount actually collected, as provided for in Section 4701 et seq. of the California Revenue and Taxation Code, the District is not included in the County Teeter Plan. Consequently, the District may not draw on the County Tax Loss Reserve Fund in the event of delinquencies in Special Tax payments within the District.
Parity Bonds for Refunding Purposes Only
The District may at any time after the issuance and delivery of the Bonds issue Parity Bonds payable from the Net Taxes and other amounts deposited in the Special Tax Fund (other than in the Administrative Expense Account therein) and secured by a lien and charge upon such amounts equal to the lien and charge securing the Outstanding Bonds and any other Parity Bonds theretofore issued; provided, however, Parity Bonds may only be issued for the purpose of refunding all or a portion of the Bonds or any Parity Bonds. Parity Bonds may be issued subject to the following additional specific conditions, which are made conditions precedent to the issuance of any such Parity Bonds by the Indenture:
(a) The District shall be in compliance with all covenants set forth in the Indenture and any Supplemental Indenture then in effect and a certificate of the District to that effect shall have been filed with the Trustee; provided, however, that Parity Bonds may be issued notwithstanding that the District is not in compliance with all such covenants so long as immediately following the issuance of such Parity Bonds the District will be in compliance with all such covenants. (b) The issuance of such Parity Bonds shall have been duly authorized pursuant to the Act and all applicable laws, and the issuance of such Parity Bonds shall have been provided for by a Supplemental Indenture duly authorized, executed and delivered by the District which shall specify the following: (1) the purpose for which such Parity Bonds are to be issued and the fund or funds into which the proceeds thereof are to be deposited; (2) the authorized principal amount of such Parity Bonds; (3) the date and the maturity date or dates of such Parity Bonds; provided that: (i) each maturity date shall fall on a September 1; (ii) all such Parity Bonds of like maturity shall be identical in all respects, except as to number; (iii) fixed serial maturities or Sinking Fund Payments, or any combination thereof, shall be established to provide for the retirement of all such Parity Bonds on or before their respective maturity dates; and (iv) the maturity of the Parity Bonds to be issued shall not exceed the maturity of the Bonds and Parity Bonds being refunded; (4) the description of the Parity Bonds, the place of payment thereof and the procedure for execution and authentication; (5) the denominations and method of numbering of such Parity Bonds; (6) the amount and due date of each mandatory Sinking Fund Payment, if any, for such Parity Bonds; (7) the amount, if any, to be deposited from the proceeds of such Parity Bonds in the Reserve Account of the Special Tax Fund to increase the amount therein to the Reserve Requirement; (8) the form of such Parity Bonds; and (9) such other provisions as are necessary or appropriate and not inconsistent with the Indenture.
(c) The District shall have received the following documents or money or securities, all of such documents dated or certified, as the case may be, as of the date of delivery of such Parity Bonds by the Trustee (unless the Trustee shall be directed by the District to accept any of such documents bearing a prior date): (1) a certified resolution of the City Council, acting as the legislative body of the District, authorizing the issuance of such Parity Bonds; (2) a written request of the District as to the delivery of such Parity Bonds; (3) an opinion of Bond Counsel and/or general counsel to the District substantially to the effect that: (i) the District has the right and power under the Act to execute and deliver the Supplemental Indenture relating to such Parity Bonds, and such Supplemental Indenture has been duly and lawfully executed by the District, and the Indenture and such Supplemental Indenture are in full force and effect and are valid and binding upon the District and enforceable in accordance with their terms (except as enforcement may be limited by bankruptcy, insolvency, reorganization and other similar laws relating to the enforcement of creditors’ rights); (ii) the Indenture creates the valid pledge which it purports to create of the Net Taxes and other amounts as provided in the Indenture, subject to the application thereof to the purposes and on the conditions permitted by the Indenture; and (iii) such Parity Bonds are valid and binding limited obligations of the District, enforceable in accordance with their terms (except as enforcement may be limited by bankruptcy, insolvency, reorganization and other similar laws relating to the Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 38
Menifee Mayor and City Council
August 2, 2023
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enforcement of creditors’ rights) and the terms of the Indenture and the Supplemental Indenture executed and delivered in connection with such Parity Bonds and are entitled to the benefits of the Indenture and such Supplemental Indenture, and such Parity Bonds have been duly and validly authorized and issued in accordance with the Act (or other applicable laws) and the Indenture and such Supplemental Indenture; and a further opinion of Bond Counsel to the effect that, assuming compliance by the District with certain tax covenants, the issuance of the Parity Bonds will not adversely affect the exclusion from gross income for federal income tax purposes of interest on the Bonds and any Parity Bonds theretofore issued on a tax-exempt basis, or the exemption from State of California personal income taxation of interest on any Outstanding Bonds and Parity Bonds theretofore issued; (4) a certificate of the District containing such statements as may be reasonably necessary to show compliance with the requirements of the Indenture; (5), a certificate of an Independent Financial Consultant certifying that in each Bond Year the Annual Debt Service on the Bonds and Parity Bonds to remain Outstanding following the issuance of the Parity Bonds proposed to be issued is less than the Annual Debt Service on the Bonds and Parity Bonds Outstanding prior to the issuance of such Parity Bonds; and (6) such further documents, money and securities as are required by the provisions of the Indenture and the Supplemental Indenture providing for the issuance of such Parity Bonds.
THE DISTRICT
General Description of the District
The City is located in the western portion of the County. The District contains approximately 76 gross acres and approximately 56 net taxable acres and is located in the City on the northwest side of Domenigoni Parkway at Lindenberger Road. The developer of the property within the District is Pulte Homes. The project within the District has been marketed by Pulte Homes as “Banner Park.” The property within the District is planned for 256 residential units within three product lines – Crest at Banner Park (93 homes), Heritage at Banner Park (89 homes) and Merit at Banner Park (74 homes). As of June 12, 2023, date of value of the Appraisal Report (defined below) Pulte Homes had completed and conveyed 203 homes within the District to individual homeowners. As of such date, Pulte Homes owned six model homes (one of which was in escrow), 44 homes under construction (forty of which were in escrow), and three finished lots (all of which were in escrow). Building permits for all 256 planned homes within the District have been issued. Pulte Homes currently expects to complete and convey all homes planned within the District to individual homeowners by the end of 2024.
The major infrastructure (sewer, water, storm drains, utilities, and arterial roads) necessary to develop the property within the District has been completed. Remaining infrastructure to be completed primarily include in-tract improvements such as streets, sidewalks, landscaping, an offsite street and associated utilities, and the completion of a neighborhood park. As described herein, there are limitations on the number of home closings within the District that can occur until Pulte Homes satisfies certain conditions, which conditions include the completion of certain of the foregoing remaining infrastructure. See “PROPERTY OWNERSHIP AND THE DEVELOPMENT.”
Water and sewer service to the property within the District is currently supplied by the Eastern Municipal Water District. Electricity is currently supplied by Southern California Edison and gas by The Gas Company. Public education instruction is provided by Menifee Union School District and Perris Union High School District
The property within the District is not located in an Alquist-Priolo Earthquake Study Zone and is not located within one-half mile of an active earthquake fault. Additionally, the District is not located in a flood plain area, although approximately half of the District is located in an area which the Department of Forestry and Fire Protection of the State of California has designated as a very high fire hazard severity zone. The property in the District may be subject to unpredictable seismic activity, fires, flood, or other natural disasters.
See “SPECIAL RISK FACTORS — Natural Disasters.”
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 39
Menifee Mayor and City Council
August 2, 2023
Page
522 of 729
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A map showing the location of the District and an aerial photograph thereof appear following the Table of Contents.
Authorized Uses of Bond Proceeds
Proceeds of the Bonds are authorized to be used to pay for the costs of construction of City facilities, including certain storm drain and street improvements, the costs of certain water and sewer system improvements to be owned and operated by the Eastern Municipal Water District and the costs of school facilities to be owned and operated by the Menifee Union School District. See the caption “FINANCING PLAN.” Appraisal Report
The estimated assessed value of the property within the District, as shown on the County’s assessment roll for Fiscal Year 2022-23 is approximately $27,853,130, which as a result of timing of the County’s determination of the assessed values for Fiscal Year 2022-23, does not reflect the substantial development activity that has taken place since such value was determined.
A property’s assessed value is not necessarily indicative of its market value. In order to provide information with respect to the value of the taxable property within the District, the City engaged the Appraiser to prepare the Appraisal Report. The Appraiser has an “MAI” designation from the Appraisal Institute and has prepared numerous appraisals for the sale of land-secured municipal bonds. The Appraiser was selected by the City and has no material relationships with the City or the owners of the land within the District other than the relationship represented by the engagement to prepare the Appraisal Report. The City instructed the Appraiser to prepare its analysis and report in conformity with City-approved guidelines and the Appraisal Standards for Land Secured Financings published in 1994 and revised in 2004 by the California Debt and Investment Advisory Commission. A copy of the Appraisal Report is included as Appendix D — “APPRAISAL REPORT” to this Official Statement.
The purpose of the Appraisal Report was to estimate the market value of the property within the District subject to the lien of the Special Taxes. The estimate of market value takes into consideration and assumes the improvements to be funded with the proceeds of the 2023 Bonds have been installed and that the remaining costs to develop the project within the District provided to the Appraiser by Pulte Homes are correct. As a result, the value conclusions are based upon a hypothetical condition that all improvements and benefits to the District, which are to be funded with the proceeds of the 2023 Bonds, are completed and in place or have accrued to the property.
Subject to the assumptions and limiting conditions set forth in the Appraisal Report, the Appraiser concluded that, as of the Date of Value, the market value of the Taxable Property within the District was $132,324,591. In valuing the property within the District, the Appraiser used a sales comparison approach for the property to be developed and, with respect to the Pulte Homes-owned models and production units more than 95% complete, a discounted cash flow analysis was applied. The discounted cash flow analysis accounts for remaining development costs, marketing and carrying costs and a discount rate through the estimated absorption period for such models and production units. Lots with homes less than 95% complete were valued as finished lots.
The Appraisal Report is based upon a variety of assumptions and limiting conditions that are described in Appendix D. The City, the Underwriter and the District make no representation as to the accuracy of the Appraisal Report. There is no assurance that the property within the District can be sold for the prices set forth in the Appraisal Report or that any parcel can be sold for a price sufficient to pay the Special Tax for that parcel in the event of a default in payment of Special Taxes by the landowner. See “SPECIAL RISK FACTORS — Property Values” and Appendix D — “APPRAISAL REPORT.”
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 40
Menifee Mayor and City Council
August 2, 2023
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Estimated Appraised Value-to-Lien Ratios
The aggregate appraised value of property within the District is $132,324,591. Dividing the aggregate estimate of value by the principal amount of the Bonds and other outstanding overlapping debt results in a value to lien ratio of 10.84:1 * for the District. See “SPECIAL RISK FACTORS — Direct and Overlapping Indebtedness.” The assessed value of the property within the District is $27,853,130 for Fiscal Year 2022-23, which as a result of timing of the County’s determination of the assessed values for Fiscal Year 2022-23, does not reflect the substantial development activity that has taken place since such value was determined. Dividing the assessed value by the outstanding principal amount of the Bonds and other outstanding overlapping debt results in an estimated assessed value-to-lien ratio of 2.28-to-1* for the District.
Table 2 below sets forth the appraised value-to-lien ratio of the Taxable Property within the District based on the appraised values set forth in the Appraisal Report, the principal amount of the Bonds and outstanding overlapping indebtedness. Table 3 below sets forth the estimated appraised value-to-lien ratios for Taxable Property within the District by various ranges based upon the principal amount of the Bonds and outstanding overlapping indebtedness.
The 2023 Bonds have been sized such that the Special Taxes levied at 100% of the Assigned Special Tax on Developed Property beginning in Fiscal Year 2023-24 would produce not less than 110% of Annual Debt Service on the Bonds plus the Administrative Expenses Cap. [Remainder of Page Intentionally Left Blank]
* Preliminary, subject to change.
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 41
Menifee Mayor and City Council
August 2, 2023
Page
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TABLE 2
CITY OF MENIFEE
COMMUNITY FACILITIES DISTRICT NO. 2021-1 (BANNER PARK)
ESTIMATED VALUE-TO-LIEN RATIOS
ALLOCATED BY PROPERTY OWNER
Property Owner(1)
No. of
Parcels
Appraised
Property
Value(2)
Percent of
Appraised
Value
Maximum
Special Tax
Levy(3)
Estimated
Fiscal Year
2023-24
Special Tax
Levy(4)*
Percent of
Estimated
Fiscal Year
2023-24
Special Tax
Levy*
CFD 2021-1
2023 Bonds(5)*
All Other
Overlapping
Debt Issued(6)
Appraised
Value-to-
Lien Ratio*
Developed Property
Individually Owned 203 $ 118,809,238 89.79% $ 608,092 $ 568,166 79.13% $ 4,898,131 $ 4,759,792 12.30:1 Pulte Homes Owned 53 13,515,353 10.21 159,099 149,852 20.87 1,291,869 1,255,382 5.31:1 Total of Developed Property 256 $ 132,324,591 100.00% $ 767,191 $ 718,019 100.00% $ 6,190,000 $ 6,015,174 10.84:1 * Preliminary, subject to change.
(1) Property ownership status as of the June 12, 2023, Date of Value. (2) Based on the appraised value set forth in the Appraisal Report as of the June 12, 2023, Date of Value. (3) Reflects a Special Tax levy at the Backup Special Tax rate on parcels of Developed Property. See “SOURCES OF PAYMENT FOR THE BONDS — Special Taxes — Rate and Method of Apportionment of Special Tax.”
(4) Estimated Fiscal Year 2023-24 Special Tax Levy based upon development status as of June 12, 2023 and an Administrative Expense Cap for Fiscal Year 2023-24 of $31,212.00. The Special Tax levy shown is equal to 100% of the Assigned Special Tax rates on Developed Property. (5) Allocated based on estimated Fiscal Year 2023-24 Special Tax levy. (6) Includes $5,375,000 outstanding principal amount of the 2022 Bonds and outstanding overlapping indebtedness. See Table 4 below.
Source: County of Riverside Assessor’s Office; Spicer Consulting Group, LLC.
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 42
Menifee Mayor and City Council
August 2, 2023
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TABLE 3
CITY OF MENIFEE
COMMUNITY FACILITIES DISTRICT NO. 2021-1 (BANNER PARK)
VALUE-TO-LIEN STRATIFICATION*
Value-to-Lien Category
No. of
Parcels of
Developed
Property
Percent of
Developed
Property
Appraised
Value(1)
Percent of
Appraised
Value
CFD 2021-1
Estimated
Fiscal Year
2023-24
Special Tax
Levy
Percent
Share of
Estimated
Fiscal
Year
2023-24
Special
Tax Levy
CFD 2021-1
2023 Bonds(2)
Percent
Share of
CFD 2021-1
2023 Bonds
All Other
Overlapping
Debt(3)
Less than 3.00:1 12 4.69% $ 1,628,151 1.23% $ 35,977 5.01% $ 310,155 5.01% $ 301,395 Between 3.00:1 to 6.00:1(4) 16 6.25 2,170,868 1.64 42,040 5.86 362,427 5.86 352,191 Between 6.01:1 to 9.00:1 25 9.77 9,716,334 7.34 71,835 10.00 619,287 10.00 601,796 Between 9.01:1 to 12.00:1 29 11.33 18,586,854 14.05 92,054 12.82 793,588 12.82 771,175 Greater than 12.01:1(4) 174 67.97 100,222,384 75.74 476,113 66.31 4,104,542 66.31 3,988,616 Total 256 100.00% $ 132,324,591 100.00% $ 718,019 100.00% $ 6,190,000 100.00% $ 6,015,174 * Preliminary, subject to change.
(1) Based on the appraised value set forth in the Appraisal Report as of the June 12, 2023, Date of Value. (2) Allocated based on the estimated Fiscal Year 2023-24 Special Tax levy and reflects building permits issued for all 256 planned homes and an Administrative Expense Cap for Fiscal Year 2023-24 of $31,212.00.
(3) Includes $5,375,000 outstanding principal amount of the 2022 Bonds and outstanding overlapping indebtedness. See Table 4 below. (4) The minimum value to lien in the Less than 3.00:1 category is 2.51:1*. The maximum value to lien in the Greater than 12.01:1 category is 12.77:1*.
Source: County of Riverside Assessor’s Office; Spicer Consulting Group, LLC.
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 43
Menifee Mayor and City Council
August 2, 2023
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Direct and Overlapping Debt
The District is included within the boundaries of overlapping local agencies providing governmental services. Some of these local agencies have outstanding bonds, and/or the authority to issue bonds, payable from taxes or assessments. The existing and authorized indebtedness payable from taxes and assessments that may be levied upon the property within the District is shown in Table 4 below. In addition to current debt, new community facilities districts and/or special assessment districts could be formed in the future encompassing all or a portion of the property within the District; and such districts or the agencies that formed them could issue more bonds and levy additional special taxes or assessments. [Remainder of Page Intentionally Left Blank]
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 44
Menifee Mayor and City Council
August 2, 2023
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TABLE 4
CITY OF MENIFEE
COMMUNITY FACILITIES DISTRICT NO. 2021-1 (BANNER PARK)
DIRECT AND OVERLAPPING DEBT
AS OF JUNE 12, 2023
I. Appraised Value(1) $ 132,324,591
II. Land Secured Bond Indebtedness
Outstanding Direct and
Overlapping Bonded Debt Type Issued Outstanding
%
Applicable
Parcels in
CFD No.
2021-1(3)
Amount
Applicable
CITY OF MENIFEE CFD NO. 2021-1, SERIES 2022A CFD $ 5,375,000 $ 5,375,000 100.000% 256 $ 5,375,000 CITY OF MENIFEE CFD NO. 2021-1, SERIES 2023A CFD 6,190,000* 6,190,000* 100.000 256 6,190,000* TOTAL LAND SECURED BONDED DEBT $ 11,565,000*
Authorized but Unissued Direct and
Overlapping Indebtedness Type Authorized Unissued
%
Applicable
Parcels in
CFD No.
2021-1(3)
Amount
Applicable
CITY OF MENIFEE CFD NO. 2021-1, SERIES 2022A & 2023A(2) CFD $ 17,000,000 $ 0 100.000% 256 $ 0 TOTAL UNISSUED LAND SECURED INDEBTEDNESS $ 0
TOTAL OUTSTANDING AND UNISSUED LAND SECURED INDEBTEDNESS $ 11,565,000 III. General Obligation Bond Indebtedness
Outstanding Direct and
Overlapping Bonded Debt Type Issued Outstanding
%
Applicable
Parcels in
CFD No.
2021-1(3)
Amount
Applicable
METROPOLITAN WATER DEBT SERVICE GO $ 850,000,000 $ 50,105,000 0.027% 256 $ 13,644 MT. SAN JACINTO JR. COLLEGE DEBT SERVICE GO 190,000,000 157,750,000 0.024 256 37,988 MENIFEE UNION SCHOOL DISTRICT DEBT SERVICE GO 144,463,923 124,944,720 0.187 256 234,156 PERRIS UNION HIGH SCHOOL DISTRICT DEBT SERVICE GO 347,415,402 299,532,811 0.118 256 354,386 TOTAL OUTSTANDING GENERAL OBLIGATION BONDED DEBT(2) $ 640,174 Authorized but Unissued Direct and
Overlapping Indebtedness Type Authorized Unissued
%
Applicable
Parcels in
CFD No.
2021-1(3)
Amount
Applicable
METROPOLITAN WATER DEBT SERVICE GO $ 850,000,000 $ 0 0.027% 256 $ 0 MT. SAN JACINTO JR. COLLEGE DEBT SERVICE GO 295,000,000 105,000,000 0.024 256 25,285 MENIFEE UNION SCHOOL DISTRICT DEBT SERVICE GO 180,960,000 $36,496,077 0.187 256 68,396 PERRIS UNION HIGH SCHOOL DISTRICT DEBT SERVICE GO 347,420,000 4,598 0.118 256 5 TOTAL UNISSUED GENERAL OBLIGATION INDEBTEDNESS $ 93,687 TOTAL OUTSTANDING AND UNISSUED GENERAL OBLIGATION INDEBTEDNESS $ 733,861 TOTAL OF ALL OUTSTANDING DIRECT AND OVERLAPPING BONDED DEBT $ 12,205,174 * TOTAL OF ALL OUTSTANDING DIRECT AND UNISSUED DIRECT OVERLAPPING INDEBTEDNESS $ 12,298,861 * IV. Ratios to Appraisal Value
Outstanding Land Secured Bonded Debt 11.44:1*
Total Outstanding Bonded Debt 10.84:1*
* Preliminary, subject to change.
(1) Based on the appraised value set forth in the Appraisal Report as of the June 12, 2023, Date of Value. (2) Parity Bonds may only be issued for refunding purposes. (3) All parcels have subdivided into 256 individual parcels. As of June 12, 2023, all 256 parcels are Developed Property per the Rate and Method for Fiscal Year 2023-24.
Source: County of Riverside Assessor’s Office; Spicer Consulting Group, LLC.
Table 5 below describes the estimated Fiscal Year 2023-24 effective tax burden for Pulte Homes’ development in the District based on the average appraised value of homes within each Land Use Category (as defined in the Rate and Method) as of the Date of Value, the estimated Fiscal Year 2023-24 Special Tax levy and Fiscal Year 2023-24 actual levies for all other overlapping taxing jurisdictions. Based on the foregoing, the projected debt service on the 2023 Bonds and the Administrative Expenses Cap of $31,212.00 (which amount Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 45
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August 2, 2023
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shall escalate at 2% per Fiscal Year), in Fiscal Year 2023-24, the projected effective tax rates to be levied on Developed Property in the District ranges from approximately 1.78% to 1.82%. [Remainder of Page Intentionally Left Blank]
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 46
Menifee Mayor and City Council
August 2, 2023
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TABLE 5
CITY OF MENIFEE
COMMUNITY FACILITIES DISTRICT NO. 2021-1 (BANNER PARK)
ESTIMATED FISCAL YEAR 2023-24 TAX OBLIGATION
FOR A SAMPLE OF DEVELOPED PROPERTY
TR 32102-1
Heritage Crest Merit
Plan Type 1 2 3 1 2 3 1 2 3
CFD Tax Category 2,101 to
2,300 S.F.
2,301 to
2,500 S.F.
2,301 to
2,500 S.F.
2,701 to
2,900 S.F.
2,901 to
3,100 S.F.
Greater than
3,101 S.F.
2,301 to
2,500 S.F.
2,501 to
2,700 S.F.
2,701 to
2,900 S.F.
Home Size 2,191 2,311 2,462 2,845 3,047 3,237 2,391 2,654 2,824 Appraisal Value(1) $ 536,795 $ 554,640 $ 566,260 $ 597,450 $ 624,635 $ 640,926 $ 561,885 $ 578,572 $ 593,040 Ad Valorem Property Taxes:
General Purpose $ 5,368 $ $5,546 $ $5,663 $ 5,975 $ 6,246 $ 6,409 $ 5,619 $ 5,786 $ 5,930 Metro Water West (0.00350%) 19 19 20 21 22 22 20 20 21
Mt. San Jacinto Jr College (0.01320%) 71 73 75 79 82 85 74 76 78 Menifee Union School District (0.06319%) 339 350 358 378 395 405 355 366 375 Perris Union High School District (0.088590%) 476 491 502 529 553 568 498 513 525 Total General Property Taxes $ 6,272 $ 6,481 $ 6,617 $ 6,981 $ 7,299 $ 7,489 $ 6,566 $ 6,760 $ 6,930 Assessment, Special Taxes & Parcel Charges:
Flood Control Stormwater / Cleanwater / Santa Ana $ 4 $ 4 $ 4 $ 4 $ 4 $ 4 $ 4 $ 4 $ 4 Valleywide Regional Facilities LMD 88-1 6 6 6 6 6 6 6 6 6 Valleywide LMD 88-1 Parks 325 325 325 325 325 325 325 325 325 MWD Standby East charge 7 7 7 7 7 7 7 7 7
EMWD Infrastructure Availability Charge 21 21 21 21 21 21 21 21 21 City of Menifee CFD 2017-1, Zone 8 Maintenance
Services
775 775 775 775 775 775 775 775 775
City of Menifee CFD 2021-1 (Banner Park)(2) 2,617 2,642 2,642 2,798 3,069 3,174 2,642 2,666 2,798 Total Assessments & Special Taxes $ 3,755 $ 3,779 $ 3,779 $ 3,936 $ 4,198 $ 4,312 $ 3,779 $ 3,803 $ 3,936 Projected Total Property Tax $ 10,027 $ 10,260 $ 10,396 $ 10,917 $ 11,496 $ 11,801 $ 10,345 $ 10,564 $ 10,865 Projected Effective Tax Rate 1.87% 1.85% 1.84% 1.83% 1.84% 1.84% 1.84% 1.83% 1.83% (1) Based on the average appraised value for homes in each Land Use Class (as defined in the Rate and Method) set forth in the Appraisal Report as of the Date of Value. (2) Reflects the estimated Fiscal Year 2023-24 Special Tax levy for Developed Property.
Source: County of Riverside Assessor’s Office; Spicer Consulting Group, LLC.
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 47
Menifee Mayor and City Council
August 2, 2023
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Delinquency History
Unpaid amounts of the Special Taxes for the first and second installments become delinquent after December 10 and April 10 of each Fiscal Year, respectively. Fiscal Year 2022-23, which was the first fiscal year in which Special Taxes were levied. As shown in Table 5 below, there were no delinquencies for the Fiscal Year 2022-23 Special Tax levy.
TABLE 5
CITY OF MENIFEE
COMMUNITY FACILITIES DISTRICT NO. 2021-1 (BANNER PARK)
SPECIAL TAX LEVIES, DELINQUENCIES AND DELINQUENCY RATE
FISCAL YEAR 2022-23
Delinquencies as of June 22, 2023
Fiscal Year Amount Levied Parcels Levied
Parcels
Delinquent
Amount
Delinquent
Percent
Delinquent
2022-23 $332,335 121 0 $ 0 0.00%
Source: County of Riverside Assessor’s Office; Spicer Consulting Group, LLC.
PROPERTY OWNERSHIP AND THE DEVELOPMENT
The information about the property in the District contained in this Official Statement has been provided by representatives of Pulte Homes and has not been independently confirmed or verified by the Underwriter, the City or the District. The Underwriter, the City, and the District make no representation as to the accuracy or adequacy of the information contained in this caption. There may be material adverse changes in this information after the date of this Official Statement. Neither the Bonds nor the Net Taxes securing the Bonds and any Parity Bonds are personal obligations of Pulte Homes or any affiliate thereof or any other property owner and, in the event that any property owner defaults in the payment of its Special Taxes, the District may proceed with judicial foreclosure but has no direct recourse to the assets of any property owner or any affiliate thereof. See the caption “SPECIAL RISK FACTORS.”
Notwithstanding the belief of Pulte Homes that it will have sufficient funds to complete its planned development in the District, no assurance can be given that amounts necessary to fund the remaining planned development by Pulte Homes in the District will be available when needed. None of Pulte Homes, or any other entity or person, is under any legal obligation of any kind to expend funds for the development of the property as planned by Pulte Homes in the District. Any contributions by Pulte Homes or any other entity or person to fund the costs of its development are entirely voluntary. If and to the extent the aforementioned sources are inadequate to pay the costs to complete the planned development by Pulte Homes within the District, the remaining portions of such development may not be completed. Pulte Homes has no legal obligation to Bondholders to make any such funds available for construction or development, or the payment of ad valorem property taxes or the Special Taxes. See the caption “SPECIAL RISK FACTORS.” General
The District contains approximately 76 gross acres and approximately 56 net taxable acres. The District is located in the City on the northwest side of Domenigoni Parkway at Lindenberger Road. The project within the District has been marketed by Pulte Homes as “Banner Park.” All necessary discretionary permits have been obtained for Pulte Homes’ development within the District.
The major infrastructure (sewer, water, storm drains, utilities, and arterial roads) necessary to develop the property within the District has been completed. Remaining infrastructure to be completed primarily include Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 48
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August 2, 2023
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in-tract improvements such as streets, sidewalks, landscaping, an offsite street and associated utilities, and the completion of a neighborhood park.
As of July 1, 2023, Pulte Homes is limited to 211 home closings in the District. Upon completion of:
(i) a neighborhood park; (ii) a portion of an in-tract street (including sidewalk improvements); (iii) wet utilities on a portion of Briggs Road (including water and storm drain improvements); and (iv) remediation of certain borrowed offsite land; and (v) payment of a cash deposit relating to a storm drain crossing, Pulte Homes may close up to 226 homes within the District. Pulte Homes expects to complete the foregoing improvements by the end of September 2023. After the foregoing improvements have been completed, Pulte Homes can close the balance of the homes in the District (i.e. up to 256 homes) upon completion of a portion of Briggs Road and all project landscaping. Pulte Homes expects to satisfy such remaining conditions by the end of October 2023.
Pulte Homes does not expect the foregoing conditions to delay its projected development timing within the District as described herein.
Development Within the District
The property within the District is planned for 256 residential units within three product lines – Crest at Banner Park (93 homes), Heritage at Banner Park (89 homes) and Merit at Banner Park (74 homes). As of June 12, 2023, date of value of the Appraisal Report (defined below) Pulte Homes had completed and conveyed 203 homes within the District to individual homeowners. As of such date, Pulte Homes owned six model homes (one of which was in escrow), 44 completed or nearly completed homes (forty of which were in escrow), and three finished lots (all of which were in escrow). Building permits for all 256 planned homes within the District have been issued. Pulte Homes currently expects to complete and convey all homes planned within the District to individual homeowners by the end of 2024.
COMMUNITY FACILITIES DISTRICT NO. 2021-1 (BANNER PARK)
CREST AT BANNER PARK
(As of June 12, 2023)
Owned by Pulte Homes
Plan
Total
Units
Planned
Estimated
Home
Square
Footage
Closings as of
June 12, 2023
Completed
Homes/Homes
Under
Construction(1) Finished Lots
Base Home
Prices(2)
1 23 2,845 17 6 0 $605,990
2 31 3,047 23 7 1 $634,990
3 39 3,237 29 9 1 $645,990
TOTAL 93 69 22 2
(1) Includes 2 model homes, 12 completed homes, and 8 homes under construction. (2) Base home prices shown exclude lot premiums, options and extras and any incentives or price reductions. Base sales prices are subject to change.
Source: Pulte Homes.
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 49
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August 2, 2023
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COMMUNITY FACILITIES DISTRICT NO. 2021-1 (BANNER PARK)
HERITAGE AT BANNER PARK
(As of June 12, 2023)
Owned by Pulte Homes
Plan
Total
Units
Planned
Estimated
Home
Square
Footage
Closings as of
June 12, 2023
Completed
Homes/Homes
Under
Construction(1) Finished Lots
Base Home
Prices(2)
1 41 2,191 29 11 1 $553,990
2 25 2,311 20 5 0 $566,990
3 23 2,462 21 2 0 $585,990
TOTAL 89 70 18 1
(1) Includes 2 model homes, 2 completed homes, and 14 homes under construction. (2) Base home prices shown exclude lot premiums, options and extras and any incentives or price reductions. Base sales prices are subject to change.
Source: Pulte Homes.
COMMUNITY FACILITIES DISTRICT NO. 2021-1 (BANNER PARK)
MERIT AT BANNER PARK
(As of June 12, 2023)
Owned by Pulte Homes
Plan
Total
Units
Planned
Estimated
Home
Square
Footage
Closings as of
June 12, 2023
Completed
Homes/Homes
Under
Construction(1) Finished Lots
Base Home
Prices(2)
1 22 2,391 18 4 0 $573,990
2 20 2,655 17 3 0 $588,990
3 32 2,824 29 3 0 $603,990
TOTAL 74 64 10 0
(1) Includes 2 model homes, 4 completed homes, and 4 homes under construction. (2) Base home prices shown exclude lot premiums, options and extras and any incentives or price reductions. Base sales prices are subject to change.
Source: Pulte Homes.
No assurance can be given that home construction and sales will be carried out on the schedule and according to the plans outlined herein, or that the home construction and sale plans or base prices set forth above will not change after the date of this Official Statement. Additionally, homes sold may not result in closed escrows as sales contracts are subject to cancellation. In changing market conditions, builders will often revise the product lines and prices and the rate of sales can fluctuate. Pulte Homes continuously evaluates its product lines and prices in light of the then current market conditions. See “SPECIAL RISK FACTORS” herein for a discussion of risk factors.
Pulte Homes
General. As previously defined in this Official Statement, “Pulte Homes” refers to Pulte Home Company, LLC, a Michigan limited liability company. Pulte Homes is an indirect wholly-owned subsidiary of PulteGroup, Inc., a Michigan corporation (the “Parent Entity”). The Parent Entity is a publicly-held holding company based in Atlanta, Georgia, whose subsidiaries engage primarily in the homebuilding business. The Parent Entity also has mortgage banking operations, conducted principally through Pulte Mortgage LLC and Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 50
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August 2, 2023
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title operations. The Parent Entity is a Michigan corporation organized in 1956 whose common stock trades on the NYSE under the symbol “PHM.” Pulte Homes’ Southern California division based in Mission Viejo, California, is responsible for the development of Pulte Homes’ project in the District Through its brands, which include Centex, Pulte Homes, Del Webb, DiVosta Homes, John Weiland Homes and Neighborhoods and American West, the Parent Entity and its subsidiaries offer a wide variety of home designs, including single-family detached, townhouses, condominiums, and duplexes at different prices and with varying levels of options and amenities to the company’s major customer groups: first-time, move-up, and active adult. Over its history, the Parent Entity and its subsidiaries have delivered nearly 750,000 homes.
The Parent Entity is subject to the informational requirements of the Securities Exchange Act of 1934, as amended, and, in accordance therewith, files reports, proxy statements, and other information, including financial statements, with the Securities and Exchange Commission (the “SEC”). Such filings, particularly the Annual Report on Form 10-K and its most recent Quarterly Report on Form 10-Q, set forth, among other things, certain data relative to the consolidated results of operations and financial position of the Parent Entity and its consolidated subsidiaries, including Pulte Homes, as of such dates.
The SEC maintains a website that contains reports, proxy and other information statements and other information regarding registrants that file electronically with the SEC, including the Parent Entity. The address of such website is www.sec.gov. All documents filed by the Parent Entity pursuant to the requirements of the Exchange Act after the date of this Official Statement will be available for inspection in such manner as the SEC prescribes.
Copies of the Parent Entity’s Annual Report and related financial statements, prepared in accordance with generally accepted accounting standards, are available from the Parent Entity’s website at www.pultegroupinc.com.
The foregoing website addresses and references to filings with the SEC are given for reference and convenience only, and the information on such websites and on file with the SEC does not form a part of this Official Statement and is not incorporated by reference herein. No representation is made in this Official Statement as to the accuracy or adequacy of the information contained on such websites. The Parent Entity and Pulte Homes are not obligated to advance funds for construction or development or to pay ad valorem property taxes or the Special Taxes and investors should not rely on the information and financial statements contained on such websites in evaluating whether to buy, hold or sell the Bonds.
Financing Plan. To date, Pulte Homes has financed its land acquisition and various site development costs related to its property in the District through internally generated funds. As of July 1, 2023, Pulte Homes has expended approximately $124.0 million on land acquisition and development and homebuilding costs in the District. As of July 1, 2023, Pulte Homes expects to incur approximately $5.9 million on remaining land development costs and approximately $4.6 million on remaining homebuilding, marketing, and sales costs for its project in the District. Pulte Homes expects to use home sales revenues and internal funding to complete its development within the District, and believes that it will have sufficient funds available to complete its planned development as described in this Official Statement.
Although Pulte Homes expects to have sufficient funds available to complete its development in the District as described in this Official Statement, there can be no assurance that amounts necessary to finance the development costs will be available from Pulte Homes, the Parent Entity or any other source when needed.
Neither the Parent Entity nor any of its subsidiaries or related entities are under any legal obligation of any kind to expend funds for the development of and construction of homes on its property in the District. Any contributions by Pulte Homes or the Parent Entity to fund the costs of such development are entirely voluntary.
If and to the extent that internal funding, including but not limited to home sales revenues, are inadequate to pay the costs to complete the planned development by Pulte Homes within the District and other financing is Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 51
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August 2, 2023
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not put into place, there could be a shortfall in the funds required to complete the planned development by Pulte Homes in the District.
Except as described in this Official Statement and except for those consents, permits, authorizations, certifications and approvals of governmental entities required in the ordinary course of development, Pulte Homes has no actual knowledge of any impediment to construction or obtaining land use entitlements which could be reasonably expected to have a material adverse effect on its ability to complete the planned development of its property within the District as described in the Official Statement. Although the information in this Official Statement reflects the current development expectations of Pulte Homes, no assurance can be given that home construction and sales will be carried out on the schedule and according to the plans described herein, or that the home construction and sale plans or base prices set forth herein will not change after the date of this Official Statement. Pulte Homes reserves the right to change its development at any time without notice. Additionally, homes under contract to be sold may not result in closed escrows as sales contracts are subject to cancellation.
See “SPECIAL RISK FACTORS – Concentration of Property Ownership.”
SPECIAL RISK FACTORS
The 2023 Bonds have not been rated by any rating agency, and the purchase of the 2023 Bonds involves significant risks that are not appropriate for certain investors. The following is a discussion of certain risk factors which should be considered, in addition to other matters set forth herein, in evaluating the investment quality of the 2023 Bonds. This discussion does not purport to be comprehensive or definitive and does not purport to be a complete statement of all factors which may be considered as risks in evaluating the credit quality of the 2023 Bonds. The occurrence of one or more of the events discussed herein could adversely affect the ability or willingness of property owners in the District to pay their Special Taxes when due. Such failures to pay Special Taxes could result in the inability of the District to make full and punctual payments of debt service on the 2023 Bonds. In addition, the occurrence of one or more of the events discussed herein could adversely affect the value of the property in the District. See “— Property Values” below.
Risks of Real Estate Secured Investments Generally
The 2023 Bond Owners will be subject to the risks generally incident to an investment secured by real estate, including, without limitation: (i) adverse changes in local market conditions, such as changes in the market value of real property in the vicinity of the District, the supply of or demand for competitive properties in such area, and the market value of residential property or buildings and/or sites in the event of sale or foreclosure; (ii) changes in real estate tax rates and other operating expenses, governmental rules (including, without limitation, zoning laws and laws relating to endangered species and hazardous materials) and fiscal policies; (iii) natural disasters (including, without limitation, earthquakes, wildfires and floods), which may result in uninsured losses; (iv) adverse changes in local market conditions; and (v) increased delinquencies due to rising mortgage costs and other factors.
No assurance can be given that the property owners within the District will pay Special Taxes in the future or that they will be able to pay such Special Taxes on a timely basis. See the caption “— Enforcement Delays — Bankruptcy” for a discussion of certain limitations on the District’s ability to pursue judicial proceedings with respect to delinquent parcels.
Insufficiency of Special Tax Revenues
As discussed below, the Special Taxes may not produce revenues sufficient to pay the debt service on the 2023 Bonds due to nonpayment of the amounts levied.
In order to pay debt service on the 2023 Bonds, it is generally necessary that the Special Taxes be paid in a timely manner. Should the Special Taxes not be paid on time, the District has established a Reserve Account under the Indenture to be maintained in an amount equal to the Reserve Requirement to pay debt service on the Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 52
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August 2, 2023
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Bonds to the extent other funds are not available. See “SOURCES OF PAYMENT FOR THE BONDS — Reserve Account of the Special Tax Fund.” The District has covenanted in the Indenture to maintain in the Reserve Account an amount equal to the Reserve Requirement, subject, however, to the availability of Net Taxes in amounts sufficient to do so and to the limitation that the District may not levy the Special Tax in any Fiscal Year at a rate in excess of the maximum amounts permitted under the Rate and Method. See Appendix A and Appendix E hereto. As a result, if a significant number of Special Tax delinquencies occurs within the District, the District could be unable to replenish the Reserve Account to the Reserve Requirement due to the limitations on the amount of the Special Tax that may be levied. If such defaults were to continue in successive years, the Reserve Account could be depleted and a default on the 2023 Bonds could occur.
The Act provides that, if any property within the District not otherwise exempt from the Special Tax is acquired by a public entity through a negotiated transaction, or by gift or devise, the Special Tax will continue to be levied on and enforceable against the public entity that acquired the property. In addition, the Act provides that, if property subject to the Special Tax is acquired by a public entity through eminent domain proceedings, the obligation to pay the Special Tax with respect to that property is to be treated as if it were a special assessment and be paid from the eminent domain award. The constitutionality and operation of these provisions of the Act have not been tested in the courts, but it is doubtful that they would be upheld as to, for example, property owned by the federal government. If for any reason property within the District becomes exempt from taxation by reason of ownership by a non-taxable entity such as the federal government or another public agency, subject to the limitation of the Maximum Special Tax, the Special Tax will be reallocated to the remaining taxable parcels within the District. This would result in the owners of such property paying a greater amount of the Special Tax and could have an adverse impact upon their willingness and/or ability to pay the Special Tax. Moreover, if a substantial portion of additional land within the District became exempt from the Special Tax because of public ownership, or otherwise, the Maximum Special Tax which could be levied upon the remaining acreage might not be sufficient to pay principal of and interest on the 2023 Bonds when due and a default will occur with respect to the payment of such principal and interest.
The District has covenanted in the Indenture that, under certain circumstances, it will institute foreclosure proceedings to sell any property with delinquent Special Taxes in order to obtain funds to pay debt service on the Bonds. If foreclosure proceedings were ever instituted, any mortgage or deed of trust holder could, but would not be required to, advance the amount of the delinquent Special Tax to protect its security interest. See “SOURCES OF PAYMENT FOR THE BONDS — Special Taxes — Proceeds of Foreclosure Sales” for provisions which apply in the event of such foreclosure and which the District is required to follow in the event of delinquencies in the payment of the Special Tax.
In the event that sales or foreclosures of property are necessary, there could be a delay in payments to Owners of the 2023 Bonds (if the Reserve Account has been depleted) pending such sales or the prosecution of such foreclosure proceedings and receipt by the City on behalf of the District of the proceeds of sale. The District may adjust the future Special Tax levied on taxable parcels in the District, subject to limitations described above under the caption “THE DISTRICT — Rate and Method of Apportionment,” to provide an amount required to pay interest on and principal of the Bonds, and the amount, if any, necessary to replenish the Reserve Account to an amount equal to the Reserve Requirement, and to pay all current expenses. There is, however, no assurance that the total amount of the Special Tax that could be levied and collected against taxable parcels in the District will be at all times sufficient to pay the amounts required to be paid by the Indenture, even if the Special Tax is levied at the Maximum Special Tax rates. See “— Enforcement Delays — Bankruptcy.” No assurance can be given that the real property subject to sale or foreclosure will be sold, or if sold, that the proceeds of sale will be sufficient to pay any delinquent installments of the Special Tax. The Act does not require the City to purchase or otherwise acquire any lot or parcel of property to be sold at foreclosure if there is no other purchaser at such sale. The Act and the Indenture do specify that the Special Tax will have the same lien priority as for ad valorem property taxes in the case of delinquency. Section 53356.6 of the Act requires that property sold pursuant to foreclosure under the Act be sold for not less than the amount of judgment Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 53
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in the foreclosure action, plus post judgment interest and authorized costs, unless the consent of the owners of 75% of the Outstanding Bonds and any Parity Bonds is obtained.
Prior to July 1, 1983, the right of redemption from foreclosure sales was limited to a period of one year from the date of sale. Under legislation effective July 1, 1983, the statutory right of redemption from such foreclosure sales has been repealed. However, a period of 20 days must elapse after the date on which the notice of levy of the interest in real property was served on the judgment debtor before the sale of such lot or parcel can be made. Furthermore, if the purchaser at the sale is the judgment creditor (e.g., the District), an action may be commenced by the delinquent property owner within 90 days after the date of sale to set aside such sale. The constitutionality of the aforementioned legislation, which repeals the one year redemption period, has not been tested and there can be no assurance that, if tested, such legislation will be upheld. (Section 701.680 of the Code of Civil Procedure of the State.)
Impact of Economic Conditions on the Development in the District Certain events and factors which negatively affect the regional, State and national economies could have an adverse effect on the pace at which the current or any future developers in the District can complete the remaining infrastructure and future homes, and demand by, and the ability of individuals to purchase homes within the District. Such events and factors could include rising inflation and interest rates, persistent supply chain issues and global market instability caused by geopolitical events. Any adverse impact of the foregoing and other economic factors on the project in the District and the real estate market in general cannot be predicted.
Increasing Mortgage Interest Rates
Since approximately November 2021, interest rates for mortgage loans have increased significantly.
Increases in mortgage interest rates could have a negative impact on the estimated absorption rates of the planned for-sale residential units in the District described herein. With respect to entry-level households, increased mortgage interest rates may adversely impact the affordability of homes and may increase mortgage payment levels for owning a lower-priced home relative to renting a residence, thereby making purchasing less attractive.
With respect to move-up households, higher mortgage interest rates may impact the desire of current homeowners to move from their present home due to the fact that their present home likely has a relatively low mortgage interest rate. In addition, in such instances, a new home would likely have a higher interest rate on a new mortgage loan as well as a higher purchase price and property taxes. Such considerations may decrease the desire for move-up households to purchase a new home. The foregoing factors could reduce demand for and/or the ability to achieve the sales prices of the planned for-sale homes within the District as described herein.
Concentration of Ownership
Based on development and ownership status as of June 12, 2023 (and assuming no further development activity and transfer of ownership), individual homeowners and Pulte Homes would be responsible for approximately 79.1% and 20.1%, respectively, of the projected Fiscal Year 2023-24 Special Tax levy.
The timely payment of principal of and interest on the Bonds depends upon the willingness and ability of the current and future property owners in the District to pay the Special Taxes prior to delinquency. General and local economic conditions and governmental requirements or restrictions may affect the willingness of the current property owners, or any successor property owners, to pay the Special Taxes, and there is no assurance that the current property owners, or any successor property owners, will pay such Special Taxes even if financially able to do so. Due to the concentration of ownership of the property within the District, a failure by Pulte Homes or any successor property owner thereto to pay the Special Taxes may result in a default in the payment of debt service on the Bonds. See “PROPERTY OWNERSHIP AND THE DEVELOPMENT.” Item Title: 12.2
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Property Values
The value of the property within the District is a critical factor in determining the investment quality of the 2023 Bonds. If a property owner is delinquent in the payment of Special Taxes, the District’s only remedy is to commence foreclosure proceedings against the delinquent parcel in an attempt to obtain funds to pay the Special Taxes. Reductions in property values due to a downturn in the economy, physical events such as earthquakes, fires or floods, stricter land use regulations, delays in development or other events will adversely impact the security underlying the Special Taxes. See “THE DISTRICT — Appraisal Report” and Appendix D — “APPRAISAL REPORT.”
The Appraiser has estimated, on the basis of certain assumptions and limiting conditions contained in the Appraisal Report, that as of the Date of Value, the market value of the land and improvements within the District was approximately $132,324,591. See “THE DISTRICT — Appraisal Report.” The Appraisal Report indicates the Appraiser’s opinion as to the market value of the properties referred to therein as of the date and under the conditions specified therein. The Appraiser’s opinion reflects conditions prevailing in the applicable market as of the Date of Value. The Appraiser’s opinion does not predict the future value of the subject property, and there can be no assurance that market conditions will not change adversely in the future.
Prospective purchasers of the 2023 Bonds should not assume that the taxable land within the District could be sold for the appraised amount or for the assessed values at a foreclosure sale for delinquent Special Taxes. In arriving at the estimate of market value of the property in the District, the Appraiser assumes that any sale will be unaffected by undue stimulus and will occur following a reasonable marketing period, which is not always present in a foreclosure sale. See Appendix D for a description of other assumptions made by the Appraiser and for the definitions and limiting conditions used by the Appraiser. Any event which causes one of the Appraiser’s assumptions to be untrue could result in a reduction of the value of the taxable land and improvements within the District from the market value estimated by the Appraiser.
No assurance can be given that any bid will be received for a parcel with delinquent Special Taxes offered for sale at foreclosure or, if a bid is received, that such bid will be sufficient to pay all delinquent Special Taxes. See “SOURCES OF PAYMENT FOR THE BONDS — Special Taxes — Proceeds of Foreclosure Sales.”
Natural Disasters
The District, like all California communities, may be subject to unpredictable seismic activity, fires, flood, or other natural disasters. Southern California is a seismically active area. Seismic activity represents a potential risk for damage to buildings, roads, bridges and property within the District. In addition, land susceptible to seismic activity may be subject to liquefaction during the occurrence of such event. The property within the District is not located in an Alquist-Priolo Earthquake Study Zone and is not located within one-half mile of an active earthquake fault. Additionally, the District is not located in a flood plain area.
In recent years, wildfires have caused extensive damage throughout the State, including within the County. Certain of these fires have burned thousands of acres and destroyed hundreds and in some cases thousands of homes. In some instances entire neighborhoods have been destroyed. Several fires in recent years damaged or destroyed property in areas that were not previously considered to be at risk from such events.
Approximately half of the District is located in an area which the Department of Forestry and Fire Protection of the State of California has designated as a very high fire hazard severity zone. There is a risk of residential property within the District being destroyed by wildfires and no assurance can be given as to the severity or frequency of wildfires within the vicinity of the District. Additionally, property located adjacent to burn areas can be subject to mudslides and flooding, which can cause significant damage and destruction to property.
Item Title: 12.2
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In the event of a severe earthquake, fire, flood or other natural disaster, there may be significant damage to both property and infrastructure in the District. As a result, a substantial portion of the property owners may be unable or unwilling to pay the Special Taxes when due. In addition, the value of land in the District could be diminished in the aftermath of such a natural disaster, reducing the resulting proceeds of foreclosure sales in the event of delinquencies in the payment of the Special Taxes.
Hazardous Substances
While government taxes, assessments and charges are a common claim against the value of a parcel, other less common claims may also be relevant. One of the most serious in terms of the potential reduction in the value of a parcel is a claim with regard to a hazardous substance. In general, the owners and operators of a parcel may be required by law to remedy conditions relating to releases or threatened releases of hazardous substances. The federal Comprehensive Environmental Response, Compensation and Liability Act of 1980, sometimes referred to as “CERCLA” or the “Super Fund Act,” is the most well-known and widely applicable of these laws, but California laws with regard to hazardous substances are also stringent and similar in effect. Under many of these laws, the owner (or operator) is obligated to remedy a hazardous substance condition of a parcel whether or not the owner (or operator) had anything to do with creating or handling the hazardous substance.
The effect, therefore, should any of the parcels within the District be affected by a hazardous substance, is to reduce the marketability and value by the costs of remedying the condition.
The District is not aware of the presence of any federally or state classified hazardous substances in violation of any environmental laws, located on the property within the District. However, it is possible that such materials do currently exist and that the District is not aware of them.
It is possible that property in the District may be liable for hazardous substances in the future as a result of the existence, currently, of a substance presently classified as hazardous but which has not been released or the release of which is not presently threatened, or the existence, currently, on the property of a substance not presently classified as hazardous but which may in the future be so classified. Additionally, such liabilities may arise not simply from the existence of a hazardous substance but from the method of handling such substance.
All of these possibilities could have the effect of reducing the value of the applicable property.
Enforcement Delays – Bankruptcy
In the event of a delinquency in the payment of the Special Taxes, the District is required to commence enforcement proceedings under the circumstances described under the caption “SOURCES OF PAYMENT FOR THE BONDS — Special Taxes — Proceeds of Foreclosure Sales.” However, prosecution of such proceedings could be delayed due to crowded local court calendars or by bankruptcy, insolvency and other laws generally affecting creditors’ rights (such as the Soldiers’ and Sailors’ Relief Act of 1940) and by the laws of the State relating to judicial and non-judicial foreclosure. Although bankruptcy proceedings would not cause the liens of the Special Taxes to become extinguished, bankruptcy of a person or entity with an interest in the applicable property could result in a delay in the enforcement proceedings because federal bankruptcy laws provide for an automatic stay of foreclosure and tax sale proceedings. Any such delay could increase the likelihood of delay or default in payment of the principal of and interest on the applicable 2023 Bonds. The various legal opinions to be delivered in connection with the issuance of the 2023 Bonds, including Bond Counsel’s approving legal opinion, are qualified as to the enforceability of the 2023 Bonds and the Indenture by reference to bankruptcy, reorganization, moratorium, insolvency and other laws affecting the rights of creditors generally or against public entities such as the District.
Special Tax Delinquencies
Under provisions of the Act, the Special Taxes, from which funds necessary for the payment of principal of, and interest on, the Bonds are derived, will be billed to the properties within the District on the regular ad valorem property tax bills sent to owners of such properties by the County Tax Collector. The Act currently Item Title: 12.2
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provides that such Special Tax installments are due and payable, and bear the same penalties and interest for non-payment, as do ad valorem property tax installments.
See APPENDIX E — “SUMMARY OF THE INDENTURE — COVENANTS AND WARRANTY — Covenants” for a discussion of the provisions which apply, and procedures which the District is obligated to follow under the Indenture, in the event of delinquencies in the payment of Special Taxes. See “— FDIC/Federal Government Interests in Parcels” for a discussion of the policy of the Federal Deposit Insurance Corporation regarding the payment of special taxes and assessment and limitations on the District’s ability to foreclose on the lien of the Special Taxes in certain circumstances.
FDIC/Federal Government Interests in Parcels
The ability of the District to collect interest and penalties specified by the Act and to foreclose the lien of delinquent Special Taxes may be limited in certain respects with regard to parcels in which the Federal Deposit Insurance Corporation (the “FDIC”), or other federal government entities such as Fannie Mae or Freddie Mac, has or obtains an interest.
In the case of the FDIC, in the event that any financial institution making a loan which is secured by parcels is taken over by the FDIC and the applicable Special Tax is not paid, the remedies available to the District may be constrained. The FDIC’s policy statement regarding the payment of state and local real property taxes (the “Policy Statement”) provides that taxes other than ad valorem taxes which are secured by a valid lien in effect before the FDIC acquired an interest in a property will be paid unless the FDIC determines that abandonment of its interests is appropriate. The Policy Statement provides that the FDIC generally will not pay installments of non-ad valorem taxes which are levied after the time the FDIC acquires its fee interest, nor will the FDIC recognize the validity of any lien to secure payment except in certain cases where the Resolution Trust Corporation had an interest in property on or prior to December 31, 1995. Moreover, the Policy Statement provides that, with respect to parcels on which the FDIC holds a mortgage lien, the FDIC will not permit its lien to be foreclosed out by a taxing authority without its specific consent, nor will the FDIC pay or recognize liens for any penalties, fines or similar claims imposed for the nonpayment of taxes.
The FDIC has taken a position similar to that expressed in the Policy Statement in legal proceedings brought against Orange County in United States Bankruptcy Court and in Federal District Court. The Bankruptcy Court issued a ruling in favor of the FDIC on certain of such claims. Orange County appealed that ruling, and the FDIC cross-appealed. On August 28, 2001, the Ninth Circuit Court of Appeals issued a ruling favorable to the FDIC except with respect to the payment of pre-receivership liens based upon delinquent property tax.
The District is unable to predict what effect the application of the Policy Statement would have in the event of a delinquency with respect to parcels in which the FDIC has or obtains an interest, although prohibiting the lien of the FDIC to be foreclosed out at a judicial foreclosure sale would prevent or delay the foreclosure sale.
In the case of Fannie Mae and Freddie Mac, in the event a parcel of taxable property is owned by a federal government entity or federal government sponsored entity, such as Fannie Mae or Freddie Mac, or a private deed of trust secured by a parcel of taxable property is owned by a federal government entity or federal government sponsored entity, such as Fannie Mae or Freddie Mac, the ability to foreclose on the parcel or to collect delinquent Special Taxes may be limited. Federal courts have held that, based on the supremacy clause of the United States Constitution “this Constitution, and the Laws of the United States which shall be made in Pursuance thereof; and all Treaties made, or which shall be made, under the Authority of the United States, shall be the supreme Law of the Land; and the Judges in every State shall be bound thereby, anything in the Constitution or Laws of any State to the contrary notwithstanding.” In the absence of Congressional intent to the contrary, a state or local agency cannot foreclose to collect delinquent taxes or assessments if foreclosure would impair the federal government interest. This means that, unless Congress has otherwise provided, if a Item Title: 12.2
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federal government entity owns a parcel of taxable property but does not pay taxes and assessments levied on the parcel (including Special Taxes), the applicable state and local governments cannot foreclose on the parcel to collect the delinquent taxes and assessments.
Moreover, unless Congress has otherwise provided, if the federal government has a mortgage interest in the parcel and the District wishes to foreclose on the parcel as a result of delinquent Special Taxes, the property cannot be sold at a foreclosure sale unless it can be sold for an amount sufficient to pay delinquent taxes and assessments on a parity with the Special Taxes and preserve the federal government’s mortgage interest. For a discussion of risks associated with taxable parcels within the District becoming owned by the federal government, federal government entities or federal government sponsored entities, see “—Insufficiency of Special Tax Revenues.”
The District’s remedies may also be limited in the case of delinquent Special Taxes with respect to parcels in which other federal agencies (such as the Internal Revenue Service and the Drug Enforcement Administration) have or obtain an interest.
Direct and Overlapping Indebtedness
The ability of an owner of property within the District to pay the applicable Special Taxes could be affected by the existence of other taxes and assessments imposed upon taxable parcels. See “THE DISTRICT — Direct and Overlapping Debt” herein. The City and other public agencies whose boundaries overlap those of the District could impose additional taxes or assessment liens on the property within the District in order to finance public improvements or services to be located or provided inside of or outside of such area. The lien created on the property within the District through the levy of such additional taxes may be on a parity with the lien of the Special Taxes applicable to the property within the District.
The imposition of additional liens on a parity with the Special Taxes may reduce the ability or willingness of property owners to pay the Special Taxes and increase the possibility that foreclosure proceeds will not be adequate to pay delinquent Special Taxes.
Payment of Special Taxes is not a Personal Obligation of the Property Owners An owner of a taxable parcel is not personally obligated to pay Special Taxes. Rather, Special Taxes are an obligation which is secured only by a lien against the taxable parcel. If the value of a taxable parcel is not sufficient, taking into account other liens imposed by public agencies, to secure fully Special Taxes, the District has no recourse against the property owner.
No Acceleration Provision
The 2023 Bonds do not contain a provision allowing for the acceleration of the 2023 Bonds in the event of a payment default or other default under the terms of the 2023 Bonds or the Indenture.
Limited Obligations
The Bonds and interest thereon are not payable from the general funds of the City. Except with respect to the Net Taxes, neither the credit nor the taxing power of the District or the City is pledged for the payment of the Bonds or the interest thereon, and, except as provided in the Indenture, no Owner of the Bonds may compel the exercise of any taxing power by the District or the City or force the forfeiture of any City or District property.
The principal of, premium, if any, and interest on the Bonds are not a debt of the City or a legal or equitable pledge, charge, lien or encumbrance upon any of the City’s or the District’s property or upon any of the City’s or the District’s income, receipts or revenues, except the Net Taxes and other amounts pledged under the Indenture.
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 58
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The District’s legal obligations with respect to any delinquent Special Taxes are limited to: (i) payments from the Reserve Account to the extent of funds on deposit therein; and (ii) the institution of judicial foreclosure proceedings under certain circumstances with respect to any parcels for which Special Taxes are delinquent. See the caption “SOURCES OF PAYMENT FOR THE BONDS — Special Taxes — Proceeds of Foreclosure Sales.” The Bonds cannot be accelerated in the event of any default.
The obligation to pay Special Taxes does not constitute a personal obligation of the current or subsequent owners of the respective parcels which are subject to such liens. See the caption “— Payment of the Special Tax is Not a Personal Obligation of the Property Owners.” Enforcement of Special Tax payment obligations by the District is limited to judicial foreclosure in the Superior Court of California, County of Riverside. There is no assurance that any current or subsequent owner of a parcel subject to a Special Tax lien will be able to pay the amounts due or that such owner will choose to pay such amounts even though financially able to do so.
Failure by owners of the parcels to pay Special Tax installments when due, delay in foreclosure proceedings, or the inability of the District to sell parcels that have been subject to foreclosure proceedings for amounts sufficient to cover the delinquent installments of Special Taxes levied against such parcels may result in the inability of the District to make full or timely payments of debt service on the Bonds, which may in turn result in the depletion of the Reserve Account. See the caption “— Enforcement Delays — Bankruptcy.” Ballot Initiatives
Articles XIII A, XIII B, XIII C, and XIII D of the California Constitution were adopted pursuant to measures qualified for the ballot pursuant to the State’s constitutional initiative process. From time to time, other initiative measures could be adopted by California voters. The adoption of any such initiative might place limitations on the ability of the State, the City, or other local agencies to increase revenues or to increase appropriations.
Proposition 218
An initiative measure entitled “The Right to Vote on Taxes Act” (“Proposition 218”) was approved by the voters at the November 5, 1996 statewide general election. Among other things, Proposition 218 added a new Article XIII C to the California Constitution which states that “. . . the initiative power shall not be prohibited or otherwise limited in matters of reducing or repealing any local tax, assessment, fee or charge.” The Act provides for a procedure which includes notice, hearing, protest and voting requirements to alter the rate and method of apportionment of an existing special tax. However, the Act prohibits a legislative body from adopting any resolution to reduce the rate of any special tax or terminate the levy of any special tax pledged to repay any debt incurred pursuant to the Act unless such legislative body determines that the reduction or termination of the special tax would not interfere with the timely retirement of that debt. While the application of Proposition 218 in this context has not yet been interpreted by the courts and the matter is not completely free from doubt, it is not likely that Proposition 218 has conferred on the voters the power to effect a repeal or reduction of the Special Tax if the result thereof would be to impair the security of the 2023 Bonds.
It may be possible, however, for voters or the City Council, acting as the legislative body of the District, to reduce the Special Taxes in a manner which does not interfere with the timely repayment of the Bonds, but which does reduce the maximum amount of Special Taxes that may be levied in any year below the existing levels. Therefore, no assurance can be given with respect to the future levy of Special Taxes in amounts greater than the amount necessary for the timely retirement of the Bonds. Nevertheless, to the maximum extent that the law permits it to do so, the District has covenanted that it will not initiate proceedings under the Act to reduce the maximum Special Tax rates for the District, unless, in connection therewith, the District receives a certificate from one or more Independent Financial Consultants which, when taken together, certify that: (i) such changes do not reduce the maximum Special Taxes that may be levied in each year on property within the District to an amount which is less than the Administrative Expense Cap plus 110% of the Annual Debt Service due in each Item Title: 12.2
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corresponding future Bond Year with respect to the Bonds and Parity Bonds Outstanding as of the date of such proposed reduction; and (ii) the District is not delinquent in the payment of the principal of or interest on the Bonds or any Parity Bonds. The District has also covenanted that, in the event an initiative is adopted which purports to reduce or otherwise alter the Rate and Method, it will commence and pursue legal action in order to preserve its ability to comply with the foregoing covenant. However, no assurance can be given as to the enforceability of the foregoing covenants.
Litigation with Respect to Community Facilities Districts Shapiro. The California Court of Appeal, Fourth Appellate District, Division One, issued its opinion in City of San Diego v. Melvin Shapiro (2014) 228 Cal.App.4th 756 (the “San Diego Decision”). The case involved a Convention Center Facilities District (the “CCFD”) established by the City of San Diego (“San Diego”). The CCFD is a financing district much like a community facilities district established under the provisions of the Act. The CCFD is comprised of all of the real property in San Diego. However, the special tax to be levied within the CCFD was to be levied only on hotel properties located within the CCFD.
The election authorizing the special tax was limited to owners of hotel properties and lessees of real property owned by a governmental entity on which a hotel is located. Thus, the election was not a registered voter election. Such approach to determining who would constitute the qualified electors of the CCFD was modeled after Section 53326(c) of the Act, which generally provides that, if a special tax will not be apportioned in any tax year on residential property, the legislative body may provide that the vote shall be by the landowners of the proposed district whose property would be subject to the special tax. The Court held that the CCFD special tax election was invalid under the California Constitution because Article XIIIA, Section 4 thereof and Article XIIIC, Section 2 thereof require that the electors in such an election be the registered voters within the district.
Horizon. The Sacramento County Superior Court issued a ruling in Horizon Capital Investments, LLC v. City of Sacramento et al. (Case No. 34-2017-80002661), which was a case involving an election to approve the levy of a special tax within a community facilities district (“CFD”) formed under the Act.
In 2017, the City of Sacramento initiated proceedings to form a CFD to finance certain costs to operate and maintain a streetcar line. As permitted by the Act, the proposed district included non-contiguous parcels of non-residential property. Because there were fewer than 12 registered voters residing within the territory of the proposed CFD, the City Council submitted the special tax proposed to be levied within the proposed CFD to the owners of land within the proposed CFD, as required by the Act. The proposed special tax received the requisite two-thirds vote in the landowner election.
Petitioners Horizon Capital Investments, LLC et al. filed a writ of mandate and complaint for reverse validation and declaratory relief. Petitioners argued, and the superior court agreed in its final ruling, that under section 4(a) of article XIII A of the California Constitution (which provides that “Cities, Counties and special districts, by a two-thirds vote of the qualified electors of such district [sic], may impose special taxes on such district…”) the phrase “qualified electors” means the registered voters of the entire City of Sacramento and not just the owners of the property within the boundaries of the proposed CFD. Citing the San Diego Decision, the tentative ruling states that the phrase “qualified electors of the district” refers to the registered voters of the entity imposing the special tax, which in this case was the City of Sacramento. Because the vote within the proposed CFD was by landowners only and not by all registered voters in the City of Sacramento, the final ruling states that the special tax is invalid.
The superior court’s final ruling is not binding upon other courts within the State and does not directly apply to the District, the Special Taxes, or the Bonds. The City of Sacramento did not appeal the superior court’s ruling.
Item Title: 12.2
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The Special Tax Election in the District. With respect to the San Diego Decision, the facts of such case show that there were thousands of registered voters within the CCFD (viz., all of the registered voters in San Diego). The election held in the District had less than 12 registered voters at the time of the election to authorize the Special Taxes. In the San Diego Decision, the court expressly stated that it was not addressing the validity of landowner voting to impose special taxes pursuant to the Act in situations where there are fewer than 12 registered voters. Thus, by its terms, the court’s holding in the San Diego Decision does not apply to the Special Tax election in the District. Moreover, Section 53341 of the Act provides that any “action or proceeding to attack, review, set aside, void or annul the levy of a special tax…shall be commenced within 30 days after the special tax is approved by the voters.” Similarly, Section 53359 of the Act provides that any action to determine the validity of bonds issued pursuant to the Act be brought within 30 days of the voters approving the issuance of such bonds. The petitioners in Horizon filed the writ of mandate within 30 days of the landowner election.
Voters in the District approved Special Tax on June 2, 2021. Based on Sections 53341 and 53359 of the Act and analysis of existing laws, regulations, rulings and court decisions, the District believes that no successful challenge to the Special Tax being levied in accordance with the Rate and Method may now be brought. In connection with the issuance of the 2023 Bonds, Bond Counsel expects to deliver its opinion in the proposed form attached hereto as Appendix C.
Loss of Tax Exemption
As discussed under the heading “TAX MATTERS,” interest on the 2023 Bonds could cease to be excluded from gross income for purposes of federal income taxation, retroactive to the date the 2023 Bonds were issued, as a result of future acts or omissions of the District or the City. In addition, it is possible that future changes in applicable federal tax laws could cause interest on the 2023 Bonds to be included in gross income for federal income taxation or could otherwise reduce the equivalent taxable yield of such interest and thereby reduce the value of the 2023 Bonds.
No Ratings – Limited Secondary Market
The District has not applied to have the 2023 Bonds rated by any nationally recognized bond rating company, and it does not expect to do so in the future.
There can be no guarantee that there will be a secondary market for the 2023 Bonds or, if a secondary market exists, that such 2023 Bonds can be sold for any particular price. Although the District has committed to provide certain financial and operating information on an annual basis, there can be no assurance that such information will be available to 2023 Bond owners on a timely basis. The failure to provide the required annual financial information does not give rise to monetary damages but merely an action for specific performance.
Occasionally, because of general market conditions, lack of current information, the absence of a credit rating for the 2023 Bonds or because of adverse history or economic prospects connected with a particular issue, secondary marketing practices in connection with a particular issue are suspended or terminated. Additionally, prices of issues for which a market is being made will depend upon then prevailing circumstances. Such prices could be substantially different from the original purchase price.
Limitations on Remedies
Remedies available to the Owners of the 2023 Bonds may be limited by a variety of factors and may be inadequate to assure the timely payment of principal of and interest on the 2023 Bonds or to preserve the tax- exempt status of interest on the 2023 Bonds.
Bond Counsel has limited its opinion as to the enforceability of the 2023 Bonds and of the Indenture to the extent that enforceability may be limited by bankruptcy, insolvency, reorganization, fraudulent conveyance or transfer, moratorium or other similar laws affecting generally the enforcement of creditor’s rights, by equitable principles and by the exercise of judicial discretion and by limitations on remedies against public agencies in the Item Title: 12.2
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State of California. The lack of availability of certain remedies or the limitation of remedies may entail risks of delay, limitation or modification of the rights of the Owners.
Potential Early Redemption of 2023 Bonds from Prepayments or Community Facilities District Bond Proceeds
Property owners within the District are permitted to prepay their Special Taxes at any time. Such prepayments could also be made from the proceeds of bonds issued by or on behalf of an overlapping community facilities district. Such prepayments will result in a redemption of the 2023 Bonds on the Interest Payment Date for which timely notice may be given under the Indenture following the receipt of the prepayment. The resulting redemption of 2023 Bonds that were purchased at a price greater than par could reduce the otherwise expected yield on such Bonds. See the caption “THE 2023 BONDS — Redemption — Special Mandatory Redemption from Special Tax Prepayments.”
Cybersecurity
The City, like many other public and private entities, rely on computer and other digital networks and systems to conduct their operations. The City is potentially subject to multiple cyber threats, including without limitation hacking, viruses, ransomware, malware and other attacks. No assurance can be given that the efforts of the City to manage cyber threats and attacks will be successful in all cases, or that any such attack will not materially impact the operations or finances of the City, or the administration of the 2023 Bonds. The City is also reliant on other entities and service providers in connection with the administration of the 2023 Bonds, including without limitation, the County tax collector for the levy and collection of Special Taxes and the Trustee. No assurance can be given that the City and these other entities will not be affected by cyber threats and attacks in a manner that may affect the levy and collection of Special Taxes or the payment of debt service on the 2023 Bonds.
CONTINUING DISCLOSURE
Pursuant to a Continuing Disclosure Certificate, dated as of August 1, 2023 (the “Disclosure Certificate”), to be executed and delivered by the District at the time of issuance of the 2023 Bonds, the District has covenanted for the benefit of the holders and Beneficial Owners of the 2023 Bonds to provide certain financial information and operating data relating to the District by March 1 following the end of the District’s Fiscal Year (currently its Fiscal Year ends on June 30) (the “Annual Report”), commencing with the Annual Report for the Fiscal Year ending June 30, 2023, and to provide notices of the occurrence of certain enumerated events. Annual Report and the notices of enumerated events will be filed by the District with EMMA. The specific nature of the information to be contained in the Annual Report and the notice of enumerated events is set forth in Appendix F — “FORM OF DISTRICT CONTINUING DISCLOSURE CERTIFICATE.” These covenants have been made in order to assist the Underwriter in complying with subsection (b)(5) of Rule 15c2-12.
The City has retained Spicer Consulting Group, LLC to serve as Dissemination Agent for the continuing disclosure undertaking related to the 2023 Bonds, and has adopted policies and procedures with respect to its continuing disclosure practices.
TAX MATTERS
In the opinion of Stradling Yocca Carlson & Rauth, a Professional Corporation, Newport Beach, California, Bond Counsel, under existing statutes, regulations, rulings and judicial decisions, and assuming the accuracy of certain representations and compliance with certain covenants and requirements described herein, interest (and original issue discount) on the 2023 Bonds is excluded from gross income for federal income tax purposes and is not an item of tax preference for purposes of calculating the federal alternative minimum tax imposed on individuals. However, it should be noted that for tax years beginning after December 31, 2022, with Item Title: 12.2
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respect to applicable corporations as defined in Section 59(k) of the Internal Revenue Code of 1986, as amended (the “Code”), generally certain corporations with more than $1,000,000,000 of average annual adjusted financial statement income, interest (and original issue discount) with respect to the 2023 Bonds might be taken into account in determining adjusted financial statement income for purposes of computing the alternative minimum tax imposed by Section 55 of the Code on such corporations. In the further opinion of Bond Counsel, interest (and original issue discount) on the 2023 Bonds is exempt from State of California personal income tax.
In the opinion of Bond Counsel, the difference between the issue price of a 2023 Bond (the first price at which a substantial amount of the 2023 Bonds of a maturity is to be sold to the public) and the stated redemption price at maturity of such 2023 Bond constitutes original issue discount. Original issue discount accrues under a constant yield method, and original issue discount will accrue to a Beneficial Owner before receipt of cash attributable to such excludable income. The amount of original issue discount deemed received by a Beneficial Owner will increase the Beneficial Owner’s basis in the applicable 2023 Bond.
Bond Counsel’s opinion as to the exclusion from gross income of interest (and original issue discount) on the 2023 Bonds is based upon certain representations of fact and certifications made by the District, the City and others and is subject to the condition that the District, the City and others making such representations comply with all requirements of the Code that must be satisfied subsequent to the issuance of the 2023 Bonds to assure that interest (and original issue discount) on the 2023 Bonds will not become includable in gross income for federal income tax purposes. Failure to comply with such requirements of the Code might cause the interest (and original issue discount) on the 2023 Bonds to be included in gross income for federal income tax purposes retroactive to the date of issuance of the 2023 Bonds. The District and the City has covenanted to comply with all such requirements.
The amount by which a Beneficial Owner’s original basis for determining loss on sale or exchange in the applicable 2023 Bond (generally, the purchase price) exceeds the amount payable on maturity (or on an earlier call date) constitutes amortizable 2023 Bond premium, which must be amortized under Section 171 of the Code; such amortizable Bond premium reduces the Beneficial Owner’s basis in the applicable 2023 Bond (and the amount of tax-exempt interest received), and is not deductible for federal income tax purposes. The basis reduction as a result of the amortization of 2023 Bond premium may result in a Beneficial Owner realizing a taxable gain when a 2023 Bond is sold by the Beneficial Owner for an amount equal to or less (under certain circumstances) than the original cost of the 2023 Bond to the Beneficial Owner. Purchasers of the 2023 Bonds should consult their own tax advisors as to the treatment, computation and collateral consequences of amortizable 2023 Bond premium.
The Internal Revenue Service (the “IRS”) has initiated an expanded program for the auditing of tax- exempt bond issues, including both random and targeted audits. It is possible that the 2023 Bonds will be selected for audit by the IRS. It is also possible that the market value of the 2023 Bonds might be affected as a result of such an audit of the 2023 Bonds (or by an audit of other similar bonds). No assurance can be given that in the course of an audit, as a result of an audit, or otherwise, Congress or the IRS might not change the Code (or interpretation thereof) subsequent to the issuance of the 2023 Bonds to the extent that it adversely affects the exclusion from gross income of interest (and original issue discount) on the 2023 Bonds or their market value.
SUBSEQUENT TO THE ISSUANCE OF THE 2023 BONDS THERE MIGHT BE FEDERAL,
STATE, OR LOCAL STATUTORY CHANGES (OR JUDICIAL OR REGULATORY CHANGES TO OR
INTERPRETATIONS OF FEDERAL, STATE, OR LOCAL LAW) THAT AFFECT THE FEDERAL, STATE, OR LOCAL TAX TREATMENT OF THE 2023 BONDS INCLUDING THE IMPOSITION OF ADDITIONAL
FEDERAL INCOME OR STATE TAXES BEING IMPOSED ON OWNERS OF TAX-EXEMPT STATE OR LOCAL OBLIGATIONS, SUCH AS THE 2023 BONDS. THESE CHANGES COULD ADVERSELY AFFECT THE MARKET VALUE OR LIQUIDITY OF THE 2023 BONDS. NO ASSURANCE CAN BE GIVEN THAT SUBSEQUENT TO THE ISSUANCE OF THE 2023 BONDS STATUTORY CHANGES WILL
NOT BE INTRODUCED OR ENACTED OR JUDICIAL OR REGULATORY INTERPRETATIONS WILL NOT OCCUR HAVING THE EFFECTS DESCRIBED ABOVE. BEFORE PURCHASING ANY OF THE Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 63
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August 2, 2023
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2023 BONDS, ALL POTENTIAL PURCHASERS SHOULD CONSULT THEIR TAX ADVISORS
REGARDING POSSIBLE STATUTORY CHANGES OR JUDICIAL OR REGULATORY CHANGES OR INTERPRETATIONS, AND THEIR COLLATERAL TAX CONSEQUENCES RELATING TO THE 2023 BONDS.
Bond Counsel’s opinions may be affected by actions taken (or not taken) or events occurring (or not occurring) after the date of issuance of the 2023 Bonds. Bond Counsel has not undertaken to determine, or to inform any person, whether any such actions or events are taken or do occur. The Indenture and the Tax Certificate relating to the 2023 Bonds permit certain actions to be taken or to be omitted if a favorable opinion of Bond Counsel is provided with respect thereto. Bond Counsel expresses no opinion as to the effect on the exclusion from gross income of interest (and original issue discount) on the 2023 Bonds for federal income tax purposes with respect to any 2023 Bond if any such action is taken or omitted based upon the advice of counsel other than Stradling Yocca Carlson & Rauth, a Professional Corporation.
Although Bond Counsel will render an opinion that interest (and original issue discount) on the 2023 Bonds is excluded from gross income for federal income tax purposes provided that the District and the City continue to comply with certain requirements of the Code, the ownership of the 2023 Bonds and the accrual or receipt of interest (and original issue discount) with respect to the 2023 Bonds may otherwise affect the tax liability of certain persons. Bond Counsel expresses no opinion regarding any such tax consequences.
Accordingly, before purchasing any of the 2023 Bonds, all potential purchasers should consult their tax advisors with respect to collateral tax consequences relating to the 2023 Bonds.
Should interest on the 2023 Bonds (including any original issue discount) become includable in gross income for federal income tax purposes, the 2023 Bonds are not subject to early redemption and will remain outstanding until maturity or until redeemed in accordance with the Indenture.
A copy of the proposed form of opinion of Bond Counsel is attached hereto as Appendix C.
LEGAL OPINION
The legal opinion of Bond Counsel approving the validity of the 2023 Bonds, in substantially the form set forth as Appendix C hereto, will be made available to purchasers of the 2023 Bonds at the time of original delivery of the 2023 Bonds. Certain legal matters will be passed upon for the City and the District by Rutan & Tucker, LLP, Irvine, California, City Attorney, and for the District by Stradling Yocca Carlson & Rauth, a Professional Corporation, Disclosure Counsel, for the Underwriter by Kutak Rock LLP, Irvine, California, and for the Trustee by its counsel. Bond Counsel undertakes no responsibility to the purchasers of the 2023 Bonds for the accuracy, completeness or fairness of this Official Statement.
ABSENCE OF LITIGATION
In connection with the issuance of the 2023 Bonds, the City Attorney will deliver an opinion to the effect that, to their actual knowledge, after due inquiry and investigation, there is no action, suit, proceeding or investigation at law or in equity before or by any court, public board or body, pending or threatened, or any unfavorable decision, ruling or finding, against or affecting the District, which would affect the validity of the 2023 Bonds or the Indenture, or contest the authority of the District to enter into or perform its obligations under the 2023 Bonds or the Indenture, or affects in any manner the right or ability of the District to collect the Special Taxes or pledge the Net Taxes levied within the District for the repayment of the 2023 Bonds.
NO RATING
The District has not made, and does not contemplate making, an application to any rating organization for the assignment of a rating on the 2023 Bonds.
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 64
Menifee Mayor and City Council
August 2, 2023
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UNDERWRITING
The 2023 Bonds are being purchased by Stifel, Nicolaus & Company, Incorporated (the “Underwriter”).
The Underwriter has agreed to purchase the 2023 Bonds at a price of $_________ (being the $___________ aggregate principal amount of the 2023 Bonds, less an Underwriter’s discount of $__________, [plus/less] net original issue [premium/discount] of $__________). The Bond Purchase Agreement relating to the 2023 Bonds provides that the Underwriter will purchase all of the 2023 Bonds if any are purchased, the obligation to make such purchase being subject to certain terms and conditions set forth in the Bond Purchase Agreement, the approval of certain legal matters by counsel and certain other conditions. The Underwriter’s compensation is contingent upon the successful issuance of the 2023 Bonds.
Under certain circumstances, the Underwriter may offer and sell the 2023 Bonds to certain dealers and others at prices lower or yields higher than those stated on the page immediately following the cover page of this Official Statement. The offering prices may be changed from time to time by the Underwriter.
FINANCIAL INTERESTS
The fees being paid to the Underwriter and its counsel, Bond Counsel, Disclosure Counsel and the Trustee are contingent upon the issuance and delivery of the 2023 Bonds. From time to time, Stradling Yocca Carlson & Rauth, a Professional Corporation, represents the Underwriter on matters unrelated to the 2023 Bonds.
MUNICIPAL ADVISOR
The District has retained Urban Futures, Inc., Walnut Creek, California, as Municipal Advisor for the sale of the 2023 Bonds. The Municipal Advisor is not obligated to undertake, and has not undertaken to make, an independent verification or to assume any responsibility for the accuracy, completeness or fairness of the information contained in this Official Statement.
Urban Futures, Inc., is an independent advisory firm and is not engaged in the business of underwriting, trading or distributing municipal or other public securities.
MISCELLANEOUS
So far as any statements made in this Official Statement involve matters of opinion, assumptions, projections, anticipated events or estimates, whether or not expressly stated, they are set forth as such and not as presentations of fact, and actual results may differ substantially from those set forth therein. Neither this Official Statement nor any statement that may have been made verbally or in writing is to be construed as a contract with the Owners of the 2023 Bonds.
The summaries of certain provisions of the 2023 Bonds, statutes and other documents or agreements referred to in this Official Statement do not purport to be complete, and reference is made to each of them for a complete statement of their provisions. Copies are available for review by making requests to the City.
The execution and delivery of this Official Statement by the City Manager of the City has been duly authorized by the City Council of the City acting in its capacity as the legislative body of the District.
COMMUNITY FACILITIES DISTRICT NO. 2021-1
(BANNER PARK) OF THE CITY OF MENIFEE
By:
Armando G. Villa
City Manager of the City of Menifee
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 65
Menifee Mayor and City Council
August 2, 2023
Page
548 of 729
A-1
4868-9690-6604v5/200299-0018
APPENDIX A
RATE AND METHOD OF APPORTIONMENT OF SPECIAL TAXES FOR
COMMUNITY FACILITIES DISTRICT NO. 2021-1 (BANNER PARK)
OF THE CITY OF MENIFEE
A Special Tax (all capitalized terms not otherwise defined herein are defined in Section A, “Definitions”, below) shall be applicable to each Assessor’s Parcel of Taxable Property located within the boundaries of the City of Menifee Community Facilities District No. 2021-1 (Banner Park) ("CFD No. 2021-1"). The amount of Special Tax to be levied in each Fiscal Year on an Assessor’s Parcel shall be determined by the City Council of the City of Menifee, acting in its capacity as the legislative body of CFD No. 2021-1, by applying the appropriate Special Tax for Developed Property, Approved Property, Undeveloped Property, and Provisional Undeveloped Property that is not Exempt Property as set forth below. All of the real property, unless exempted by law or by the provisions hereof in Section F, shall be taxed for the purposes, to the extent and in the manner herein provided.
A. DEFINITIONS
The terms hereinafter set forth have the following meanings:
“Acre” or “Acreage” means the land area of an Assessor's Parcel as shown on an Assessor's Parcel Map, or if the land area is not shown on an Assessor’s Parcel Map, the land area shown on the applicable final map, parcel map, condominium plan, or other recorded parcel map or instrument. The square footage of an Assessor’s Parcel is equal to the Acreage multiplied by 43,560.
“Act” means the Mello-Roos Community Facilities Act of 1982, as amended, being Chapter 2.5 (commencing with Section 53311) of Part 1 of Division 2 of Title 5 of the Government Code of the State of California. “Administrative Expenses” means the following actual or reasonably estimated costs directly related to the administration of CFD No. 2021-1: the costs of computing the Special Taxes and preparing the Special Tax collection schedules (whether by the City or designee thereof or both); the costs of collecting the Special Taxes (whether by the City or otherwise); the costs of remitting Special Taxes to the Trustee; the costs of the Trustee (including legal counsel) in the discharge of the duties required of it under the Indenture; the costs to the City, CFD No. 2021-1 or any designee thereof of complying with arbitrage rebate requirements; the costs to the City, CFD No. 2021-1 or any designee thereof of complying with continuing disclosure requirements of the City, CFD No. 2021-1 and any major property owner associated with applicable federal and state securities laws and the Act; the costs associated with preparing Special Tax disclosure statements and responding to public inquiries regarding the Special Taxes; the costs of the City, CFD No. 2021-1 or any designee thereof related to an appeal of the Special Tax; the costs associated with the release of funds from an escrow account; and the City’s annual administration fees and third party expenses. Administration Expenses shall also include amounts estimated by the CFD Administrator or advanced by the City or CFD No. 2021-1 for any other administrative purposes of CFD No. 2021-1, including attorney’s fees and other costs related to commencing and pursuing to completion any foreclosure of delinquent Special Taxes.
“Approved Property” means all Assessor’s Parcels of Taxable Property: (i) that are included in a Final Map that was recorded prior to the January 1st preceding the Fiscal Year in which the Special Tax is being levied, (ii) that have an assigned Assessor’s Parcel Number from the County shown on an Assessor’s Parcel Map for the individual lot included on the Final Map, and (iii) that have not been issued a building permit on or before May 1st preceding the Fiscal Year in which the Special Tax is being levied. “Assessor’s Parcel” means a lot or parcel of land designated on an Assessor’s Parcel Map with an assigned Assessor’s Parcel Number.
“Assessor’s Parcel Map” means an official map of the Assessor of the County designating parcels by Assessor’s Parcel Number.
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 66
Menifee Mayor and City Council
August 2, 2023
Page
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“Assessor’s Parcel Number” means that number assigned to an Assessor’s Parcel by the County for purposes of identification.
“Assigned Special Tax” means the Special Tax of that name described in Section D below. “Backup Special Tax” means the Special Tax of that name described in Section D below. “Bonds” means any obligation to repay a sum of money, including obligations in the form of bonds, certificates of participation, long-term leases, loans from government agencies, or loans from banks, other financial institutions, private businesses, or individuals, or long-term contracts, or any refunding thereof, to which Special Tax of CFD No. 2021-1 have been pledged.
“Boundary Map” means a recorded map of the CFD which indicates the boundaries of the CFD. “Building Permit” means the first legal document issued by a local agency giving official permission for new construction. For purposes of this definition, “Building Permit” may or may not include expired or cancelled building permits, or any subsequent building permit document(s) authorizing new construction on an Assessor’s Parcel that are issued or changed by the City after the first original issuance, as determined by the CFD Administrator, provided that following such determination the Maximum Special Tax that may be levied on all Assessor’s Parcels of Taxable Property will be at least 1.1 times annual debt service on all outstanding Bonds plus the estimated annual Administrative Expenses.
“Building Square Footage” or “BSF” means the square footage of assessable internal living space, exclusive of garages or other structures not used as living space, as determined by reference to the Building Permit for such Assessor’s Parcel.
“Calendar Year” means the period commencing January 1 of any year and ending the following December 31. “CFD Administrator” means an official of the City, or designee thereof, responsible for determining the Special Tax Requirement, and providing for the levy and collection of the Special Taxes. “CFD” or “CFD No. 2021-1” means Community Facilities District No. 2021-1 (Banner Park) established by the City under the Act.
“City” means the City of Menifee, State of California.
“City Council” means the City Council of the City of Menifee, acting as the legislative body of CFD No. 2021-1.
“Condominium Plan” means a condominium plan pursuant to California Civil Code, Section 1352. “County” means the County of Riverside, State of California. “Developed Property” means all Assessor’s Parcels that: (i) are included in a Final Map that was recorded prior to the January 1st preceding the Fiscal Year in which the Special Tax is being levied, and (ii) have an Assessor’s Parcel Number from the County shown on an Assessor’s Parcel Map for the individual lot included on the Final Map, and (iii) a Building Permit for new construction was issued on or before May 1st preceding the Fiscal Year in which the Special Tax is being levied.
“Exempt Property” means all Assessor’s Parcels designated as being exempt from Special Taxes as provided for in Section F.
“Final Map” means a subdivision of property by recordation of a final map, parcel map, or lot line adjustment, pursuant to the Subdivision Map Act (California Government Code Section 66410 et seq.) or recordation of a Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 67
Menifee Mayor and City Council
August 2, 2023
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Condominium Plan that creates individual lots for which Building Permits may be issued without further subdivision.
“Fiscal Year” means the period commencing on July 1st of any year and ending the following June 30th. “Indenture” means the indenture, fiscal agent agreement, resolution or other instrument pursuant to which Bonds are issued, as modified, amended and/or supplemented from time to time, and any instrument replacing or supplementing the same.
“Land Use Category” means any of the categories listed in Table 1 of Section D. “Maximum Special Tax” means for each Assessor’s Parcel, the maximum Special Tax, determined in accordance with Section D below, that can be levied by CFD No. 2021-1 on such Assessor’s Parcel. “Multifamily Property” means all Assessor’s Parcels of Developed Property for which a Building Permit has been issued for the purpose of constructing a building or buildings comprised of attached Residential Units available for rental by the general public, not for sale to an end user, and under common management, as determined by the CFD Administrator.
“Non-Residential Property” means all Assessor's Parcels of Developed Property for which a Building Permit(s) was issued for a non-residential use. The CFD Administrator shall make the determination if an Assessor’s Parcel is Non-Residential Property.
“Partial Prepayment Amount” means the amount required to prepay a portion of the Special Tax obligation for an Assessor’s Parcel, as described in Section G.2.
“Prepayment Amount” means the amount required to prepay the Special Tax obligation in full for an Assessor’s Parcel, as described in Section G.1.
“Proportionately” means for Taxable Property that is (i) Developed Property, that the ratio of the actual Special Tax levy to the Assigned Special Tax is the same for all Assessor’s Parcels of Developed Property, (ii) Approved Property, that the ratio of the actual Special Tax levy to the Maximum Special Tax is the same for all Assessor’s Parcels of Approved Property, and (iii) Undeveloped Property or Provisional Undeveloped Property, that the ratio of the actual Special Tax levy per Acre to the Maximum Special Tax per Acre is the same for all Assessor’s Parcels of Undeveloped Property or Provisional Undeveloped Property, as applicable. “Provisional Undeveloped Property” means all Assessor’s Parcels of Taxable Property that would otherwise be classified as Exempt Property pursuant to the provisions of Section F, but cannot be classified as Exempt Property because to do so would reduce the Acreage of all Taxable Property below the required minimum Acreage set forth in Section F.
“Residential Property” means all Assessor’s Parcels of Developed Property for which a Building Permit has been issued for purposes of constructing one or more Residential Units. “Residential Unit” or “RU” means a residential unit that is used or intended to be used as a domicile by one or more persons, as determined by the CFD Administrator.
“Single Family Residential Property” means all Assessor’s Parcels of Residential Property other than Multifamily Property.
“Special Tax” or “Special Taxes” means any of the special taxes authorized to be levied within CFD No. 2021-1 pursuant to the Act to fund the Special Tax Requirement. “Special Tax Requirement” means the amount required in any Fiscal Year to pay: (i) the debt service or the periodic costs on all outstanding Bonds due in the Calendar Year that commences in such Fiscal Year, (ii) Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 68
Menifee Mayor and City Council
August 2, 2023
Page
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Administrative Expenses, (iii) the costs associated with the release of funds from an escrow account, (iv) any amount required to replenish any reserve funds established in association with the Bonds, (v) an amount up to any anticipated shortfall due to Special Tax delinquencies and (vi) for the collection or accumulation of funds for the acquisition or construction of facilities authorized by CFD No. 2021-1 or the payment of debt services on Bonds anticipated to be issued, provided that the inclusion of such amount does not cause an increase in the levy of Special Tax on Approved Property or Undeveloped Property as set forth in Steps Two or Three of Section E., less (vii) any amounts available to pay debt service or other periodic costs on the Bonds pursuant to the Indenture.
“Taxable Property” means all Assessor’s Parcels within CFD No. 2021-1, which are not Exempt Property. “Taxable Unit” means either a Residential Unit or an Acre. “Trustee” means the trustee, fiscal agent, or paying agent under the Indenture. “Undeveloped Property” means all Assessor’s Parcels of Taxable Property which are not Developed Property, Approved Property, or Provisional Undeveloped Property.
B. SPECIAL TAX
Commencing Fiscal Year 2021-2022 and for each subsequent Fiscal Year, the City Council shall levy Special Taxes on all Taxable Property, up to the applicable Maximum Special Tax, to fund the Special Tax Requirement.
C. ASSIGNMENT TO LAND USE CATEGORY FOR SPECIAL TAX
Each Fiscal Year, beginning with Fiscal Year 2021-2022, each Assessor’s Parcel within CFD No. 2021-1 shall be classified as Taxable Property or Exempt Property. In addition, each Assessor’s Parcel of Taxable Property shall be further classified as Developed Property, Approved Property, Undeveloped Property or Provisional Undeveloped Property.
Assessor’s Parcels of Developed Property shall further be classified as Residential Property or Non-Residential Property. Each Assessor’s Parcel of Residential Property shall further be classified as a Single Family Residential Property or Multifamily Property. Each Assessor’s Parcel of Single Family Residential Property shall be further assigned to a Land Use Category based on its Building Square Footage.
In the event that there are Assessor’s Parcel(s) for which one or more Building Permits for Residential Units have been issued and the County has not yet assigned final Assessor’s Parcel Number(s) to such Assessor’s Parcel(s) (in accordance with the Final Map or Condominium Plan), the amount of the Special Tax levy on such Assessor’s Parcel for each Fiscal Year shall be determined as follows: (1) the CFD Administrator shall first determine an amount of the Maximum Special Tax for such Assessor’s Parcel, based on the classification of such Assessor’s Parcel as Undeveloped Property; (2) the amount of the Special Tax for the Residential Units on such Assessor’s Parcel for which Building Permits have been issued shall be determined based on the Developed Property Special Tax rates and such amount shall be levied as Developed Property in accordance with Step 1 of Section E below; and (3) the amount of the Special Tax on the Taxable Property in such Assessor’s Parcel not subject to the Special Tax levy in clause (2) shall be equal to: (A) the percentage of the Maximum Special Tax rate levied on Undeveloped Property pursuant to Step 3 of Section E below, multiplied by the total of the amount determined in clause (1), less (B) the amount determined in clause (2).
D. MAXIMUM SPECIAL TAX
1. Developed Property
The Maximum Special Tax for each Assessor’s Parcel of Developed Property classified as Single Family Residential Property in any Fiscal Year shall be the greater of (i) the Assigned Special Tax for such Assessor’s Parcel or (ii) the Backup Special Tax as described below.
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 69
Menifee Mayor and City Council
August 2, 2023
Page
552 of 729
A-5
4868-9690-6604v5/200299-0018
The Maximum Special Tax for each Assessor’s Parcel of Developed Property classified as Multifamily Property or Non-Residential Property shall be the applicable Assigned Special Tax described in Table 1 of Section D.
a. Assigned Special Tax
Each Fiscal Year, each Assessor’s Parcel of Single Family Residential Property, Multifamily Property or Non- Residential Property shall be subject to an Assigned Special Tax. The Assigned Special Tax for Fiscal Year 2021-2022 applicable to an Assessor’s Parcel of Developed Property shall be determined pursuant to Table 1 below.
TABLE 1
ASSIGNED SPECIAL TAX FOR DEVELOPED PROPERTY
FISCAL YEAR 2021-2022
LAND USE CATEGORY
TAXABLE
UNIT
BUILDING SQUARE
FOOTAGE
ASSIGNED
SPECIAL TAX
PER TAXABLE
UNIT
1. Single Family Residential Property RU Less than 2,100 sq. ft $2,452.00
2. Single Family Residential Property RU 2,100 sq. ft to 2,300 sq. ft $2,515.00
3. Single Family Residential Property RU 2,301 sq. ft to 2,500 sq. ft $2,539.00
4. Single Family Residential Property RU 2,501 sq. ft to 2,700 sq. ft $2,562.00
5. Single Family Residential Property RU 2,701 sq. ft to 2,900 sq. ft $2,689.00
6. Single Family Residential Property RU 2,901 sq. ft to 3,100 sq. ft $2,941.00
7. Single Family Residential Property RU Greater than 3,100 sq. ft $3,051.00
8. Multifamily Property Acre N/A $17,555.00
9. Non-Residential Property Acre N/A $17,555.00
On each July 1, commencing July 1, 2022, the Assigned Special Tax for Developed Property shall be increased by two percent (2.00%) of the amount in effect in the prior Fiscal Year. b. Multiple Land Use Categories
In some instances an Assessor’s Parcel of Developed Property may contain more than one Land Use Category.
The Maximum Special Tax levied on an Assessor’s Parcel shall be the sum of the Maximum Special Tax for each Taxable Unit for all Land Use Categories located on the Assessor’s Parcel. The CFD Administrator’s allocation to each type of property shall be final.
c. Backup Special Tax
The Backup Special Tax for an Assessor’s Parcel within a Final Map classified as Single Family Residential Property or Approved Property expected to be classified as Single Family Residential Property shall calculated according to the following formula.
B = (U x A) / L
The terms above have the following meanings:
B = Backup Special Tax per Assessor’s Parcel classified as Single Family Residential Property or Approved Property expected to be classified as Single Family Residential Property within the Final Map.
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 70
Menifee Mayor and City Council
August 2, 2023
Page
553 of 729
A-6
4868-9690-6604v5/200299-0018
U = Maximum Special Tax per Acre of Undeveloped Property per Section D.3 below.
A = Acreage of Single Family Residential Property expected to exist after build out in such Final Map at the time of calculation, as determined by the Administrator L = Number of Assessor’s Parcels of Single Family Residential Property expected to exist after build out in such Final Map at the time of calculation, as determined by the Administrator.
In the event any portion of the Final Map is changed or modified, the Backup Special Tax for all Assessor’s Parcels within such changed or modified area shall be $17,555 per Acre.
Notwithstanding the foregoing, the Backup Special Tax for an Assessor’s Parcel of Developed Property for which a certificate of occupancy has been granted may not be revised.
In the event any superseding Final Map is recorded as a Final Map within the boundaries of the CFD, the Backup Special Tax for all Assessor’s Parcels within such Final Map shall be $17,555 per Acre. The Backup Special Tax shall not apply to Multifamily Residential Property or Non-Residential Property.
On each July 1, commencing July 1, 2022, the Backup Special Tax shall be increased by two percent (2.00%) of the amount in effect in the prior Fiscal Year.
2. Approved Property
The Maximum Special Tax for each Assessor’s Parcel of Approved Property expected to be classified as Single Family Residential Property shall be the Backup Special Tax computed pursuant to Section D.1.c above.
The Maximum Special Tax for each Assessor’s Parcel of Approved Property not expected to be classified as Single Family Residential Property shall be $17,555 per Acre.
On each July 1, commencing July 1, 2022, the Maximum Special Tax rate for Approved Property shall be increased by two percent (2.00%) of the amount in effect in the prior Fiscal Year.
3. Undeveloped Property and Provisional Undeveloped Property The Maximum Special Tax for each Assessor’s Parcel of Undeveloped Property and Provisional Undeveloped Property shall be $17,555 per Acre.
On each July 1, commencing July 1, 2022, the Maximum Special Tax rate for Undeveloped Property and Provisional Undeveloped Property shall be increased by two percent (2.00%) of the amount in effect in the prior Fiscal Year.
E. METHOD OF APPORTIONMENT OF THE SPECIAL TAX
Commencing Fiscal Year 2021-2022 and for each subsequent Fiscal Year, the City Council shall levy Special Taxes on all Taxable Property in accordance with the following steps:
Step One: The Special Tax shall be levied Proportionately on each Assessor’s Parcel of Developed Property at up to 100% of the applicable Assigned Special Tax in Table 1 to satisfy the Special Tax Requirement.
Step Two: If additional moneys are needed to satisfy the Special Tax Requirement after the first step has been completed, the Special Tax shall be levied Proportionately on each Assessor’s Parcel of Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 71
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August 2, 2023
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Approved Property at up to 100% of the Maximum Special Tax applicable to each such Assessor’s Parcel as needed to satisfy the Special Tax Requirement.
Step Three: If additional moneys are needed to satisfy the Special Tax Requirement after the first two steps have been completed, the Special Tax shall be levied Proportionately on each Assessor’s Parcel of Undeveloped Property up to 100% of the Maximum Special Tax applicable to each such Assessor’s Parcel as needed to satisfy the Special Tax Requirement.
Step Four: If additional moneys are needed to satisfy the Special Tax Requirement after the first three steps have been completed, then the Special Tax levy on each Assessor's Parcel of Developed Property for which the Maximum Special Tax is the Backup Special Tax shall be increased in equal percentages from the Assigned Special Tax up to 100% of the Backup Special Tax as needed to satisfy the Special Tax Requirement.
Step Five: If additional moneys are needed to satisfy the Special Tax Requirement after the first four steps have been completed, the Special Tax shall be levied Proportionately on each Assessor’s Parcel of Provisional Undeveloped Property up to 100% of the Maximum Special Tax applicable to each such Assessor’s Parcel as needed to satisfy the Special Tax Requirement.
Notwithstanding the above, under no circumstances will the Special Taxes levied in any Fiscal Year against any Assessor’s Parcel of Residential Property as a result of a delinquency in the payment of the Special Tax applicable to any other Assessor’s Parcel be increased by more than ten percent (10%) above the amount that would have been levied in that Fiscal Year had there never been any such delinquency or default.
F. EXEMPTIONS
The CFD Administrator shall classify as Exempt Property, in the following order of priority, (i) Assessor’s Parcels which are owned by, irrevocably offered for dedication, encumbered by or restricted in use by the State of California, Federal or other local governments, including school districts, (ii) Assessor’s Parcels which are used as places of worship and are exempt from ad valorem property taxes because they are owned by a religious organization, (iii) Assessor’s Parcels which are owned by, irrevocably offered for dedication, encumbered by or restricted in use by a homeowners' association, (iv) Assessor’s Parcels with public or utility easements making impractical their utilization for anything other than the purposes set forth in the easement, (v) Assessor’s Parcels which are privately owned and are encumbered by or restricted solely for public uses, (vi) Assessor’s Parcels which are classified as Non-Residential Property or (vii) Assessor’s Parcels restricted to other types of public uses determined by the City Council, provided that no such classification would reduce the sum of all Taxable Property to less than 39.1 Acres.
Notwithstanding the above, the CFD Administrator shall not classify an Assessor’s Parcel as Exempt Property if such classification would reduce the sum of all Taxable Property to less than 39.1 Acres. Assessor's Parcels which cannot be classified as Exempt Property because such classification would reduce the Acreage of all Taxable Property to less than 39.1 Acres will be classified as Provisional Undeveloped Property, and will be subject to Special Taxes pursuant to Step Five in Section E.
G. PREPAYMENT OF SPECIAL TAX
The following additional definitions apply to this Section G:
“CFD Facilities” means $13,500,000 expressed in 2021 dollars, which shall increase by the Construction Inflation Index on July 1, 2022, and on each July 1 thereafter, or such lower amount (i) determined by the City Council as sufficient to provide the facilities under the authorized bonding program for CFD No. 2021-1, or (ii) determined by the City Council concurrently with a covenant that it will not issue any more Bonds to be supported by Special Tax levied under this Rate and Method of Apportionment.
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 72
Menifee Mayor and City Council
August 2, 2023
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“Construction Fund” means an account specifically identified in the Indenture or functionally equivalent to hold funds, which are available for expenditure to acquire or construct facilities eligible to be financed by CFD No. 2021-1.
“Construction Inflation Index” means the greater of (i) 2% and (ii) the annual percentage change in the Engineering News-Record Building Cost Index for the city of Los Angeles, measured as of the Calendar Year which ends in the previous Fiscal Year. In the event this index ceases to be published, the Construction Inflation Index shall be another index as determined by the City that is reasonably comparable to the Engineering News- Record Building Cost Index for the city of Los Angeles. “Future Facilities Costs” means the CFD Facilities minus (i) amounts deposited in the Construction Fund, (ii) amounts deposited in any escrow accounts funded by the Outstanding Bonds and anticipated to fund public facilities costs, and (iii) public facility costs funded by interest earnings on the Construction Fund actually earned prior to the date of prepayment.
“Outstanding Bonds” means all previously issued Bonds issued and secured by the levy of Special Tax which will remain outstanding after the first interest and/or principal payment date following the current Fiscal Year, excluding Bonds to be redeemed at a later date with the proceeds of prior prepayments of Special Tax.
1. Prepayment in Full
The Special Tax obligation may be prepaid and permanently satisfied for (i) Assessor’s Parcels of Developed Property, (ii) Assessor’s Parcels of Approved Property or Undeveloped Property for which a Building Permit has been issued, (iii) Assessor’s Parcels of Approved Property or Undeveloped Property for which a Building Permit has not been issued and (iv) Assessor’s Parcels of Provisional Undeveloped Property. The Special Tax obligation applicable to an Assessor’s Parcel may be fully prepaid and the obligation to pay the Special Tax for such Assessor’s Parcel permanently satisfied as described herein; provided that a prepayment may be made only if there are no delinquent Special Taxes with respect to such Assessor’s Parcel at the time of prepayment. An owner of an Assessor’s Parcel intending to prepay the Special Tax obligation for such Assessor’s Parcel shall provide the CFD Administrator with written notice of intent to prepay, and within 5 business days of receipt of such notice, the CFD Administrator shall notify such owner of the amount of the non- refundable deposit determined to cover the cost to be incurred by the CFD in calculating the Prepayment Amount (as defined below) for the Assessor’s Parcel. Within 15 days of receipt of such non-refundable deposit, the CFD Administrator shall notify such owner of the Prepayment Amount for the Assessor’s Parcel. Prepayment must be made not less than 60 days prior to the redemption date for any Bonds to be redeemed with the proceeds of such prepaid Special Taxes.
The Prepayment Amount shall be calculated as follows (some capitalized terms are defined below):
Bond Redemption Amount
plus Redemption Premium
plus Future Facilities Amount
plus Defeasance Amount
plus Administrative Fees and Expenses
less Reserve Fund Credit
Equals: Prepayment Amount
The Prepayment Amount shall be determined as of the proposed prepayment date as follows:
1. Confirm that no Special Tax delinquencies apply to such Assessor’s Parcel.
2. For an Assessor’s Parcel of Developed Property, compute the Maximum Special Tax for the Assessor’s Parcel. For an Assessor’s Parcel of Approved Property or Undeveloped Property for which a Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 73
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August 2, 2023
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Building Permit has been issued, compute the Maximum Special Tax for the Assessor’s Parcel as though it was already designated as Developed Property, based upon the Building Permit which has been issued for the Assessor’s Parcel. For an Assessor’s Parcel of Approved Property or Undeveloped Property for which a Building Permit has not been issued, or Provisional Undeveloped Property, compute the Maximum Special Tax for the Assessor’s Parcel.
3. Divide the Maximum Special Tax derived pursuant to paragraph 2 by the total amount of Maximum Special Taxes that could be levied assuming build out of all Assessor’s Parcels of Taxable Property based on the applicable Maximum Special Tax for Assessor’s Parcels of Developed Property not including any Assessor’s Parcels for which the Special Tax obligation has been previously prepaid.
4. Multiply the quotient derived pursuant to paragraph 3 by the principal amount of the Outstanding Bonds to determine the amount of Outstanding Bonds to be redeemed with the Prepayment Amount (the “Bond Redemption Amount”).
5. Multiply the Bond Redemption Amount by the applicable redemption premium, if any, on the Outstanding Bonds to be redeemed (the “Redemption Premium”).
6. Determine the Future Facilities Costs.
7. Multiply the quotient derived pursuant to paragraph 3 by the amount determined pursuant to paragraph 6 to determine the amount of Future Facilities Costs for the Assessor’s Parcel (the “Future Facilities Amount”).
8. Determine the amount needed to pay interest on the Bond Redemption Amount from the first bond interest and/or principal payment date following the current Fiscal Year until the earliest redemption date for the Outstanding Bonds on which Bonds can be redeemed from Special Tax prepayments.
9. Determine the Special Taxes levied on the Assessor’s Parcel in the current Fiscal Year which have not yet been paid.
10. Determine the amount the CFD Administrator reasonably expects to derive from the investment of the Bond Redemption Amount and the Redemption Premium from the date of prepayment until the redemption date for the Outstanding Bonds to be redeemed with the Prepayment Amount.
11. Add the amounts derived pursuant to paragraphs 8 and 9 and subtract the amount derived pursuant to paragraph 10 (the “Defeasance Amount”).
12. Verify the administrative fees and expenses of the CFD, the cost to invest the Prepayment Amount, the cost of redeeming the Outstanding Bonds, and the cost of recording notices to evidence the prepayment of the Special Tax obligation for the Assessor’s Parcel and the redemption of Outstanding Bonds (the “Administrative Fees and Expenses”).
13. The reserve fund credit (the “Reserve Fund Credit”) shall equal the lesser of: (a) the expected reduction in the reserve requirement (as defined in the Indenture), if any, associated with the redemption of Outstanding Bonds as a result of the prepayment, or (b) the amount derived by subtracting the new reserve requirement (as defined in the Indenture) in effect after the redemption of Outstanding Bonds as a result of the prepayment from the balance in the reserve fund on the prepayment date, but in no event shall such amount be less than zero.
14. The Prepayment Amount is equal to the sum of the Bond Redemption Amount, the Redemption Premium, the Future Facilities Amount, the Defeasance Amount and the Administrative Fees and Expenses, less the Reserve Fund Credit.
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 74
Menifee Mayor and City Council
August 2, 2023
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15. From the Prepayment Amount, the Bond Redemption Amount, the Redemption Premium, and Defeasance Amount shall be deposited into the appropriate fund as established under the Indenture and be used to redeem Outstanding Bonds or make debt service payments. The Future Facilities Amount shall be deposited into the Construction Fund. The Administrative Fees and Expenses shall be retained by the CFD.
The Prepayment Amount may be sufficient to redeem other than a $5,000 increment of Bonds. In such event, the increment above $5,000 or an integral multiple thereof will be retained in the appropriate fund established under the Indenture to be used with the next redemption from other Special Tax prepayments of Outstanding Bonds or to make debt service payments.
As a result of the payment of the current Fiscal Year’s Special Tax levy as determined pursuant to paragraph 9 above, the CFD Administrator shall remove the current Fiscal Year’s Special Tax levy for the Assessor’s Parcel from the County tax roll. With respect to any Assessor’s Parcel for which the Special Tax obligation is prepaid, the City Council shall cause a suitable notice to be recorded in compliance with the Act, to indicate the prepayment of Special Tax obligation and the release of the Special Tax lien for the Assessor’s Parcel, and the obligation to pay the Special Tax for such Assessor’s Parcel shall cease.
Notwithstanding the foregoing, no Special Tax prepayment shall be allowed unless the amount of Maximum Special Tax that may be levied on all Assessor’s Parcels of Taxable Property after the proposed prepayment will be at least 1.1 times maximum annual debt service on the Bonds that will remain outstanding after the prepayment plus the estimated annual Administrative Expenses.
Tenders of Bonds in prepayment of the Special Tax obligation may be accepted upon the terms and conditions established by the City Council pursuant to the Act. However, the use of Bond tenders shall only be allowed on a case-by-case basis as specifically approved by the City Council.
2. Prepayment in Part
The Special Tax obligation for an Assessor’s Parcel of Developed Property, Approved Property, Undeveloped Property, or Provisional Undeveloped Property may be partially prepaid. For purposes of determining the Partial Prepayment Amount, the provisions of Section G.1 shall be modified as provided by the following formula:
PP = ((PE – A) x F) + A
These terms have the following meaning:
PP = Partial Prepayment Amount
PE = the Prepayment Amount calculated according to Section G.1 F = the percent by which the owner of the Assessor’s Parcel(s) is partially prepaying the Special Tax obligation
A = the Administrative Fees and Expenses determined pursuant to Section G.1 The owner of an Assessor’s Parcel who desires to partially prepay the Special Tax obligation for the Assessor’s Parcel shall notify the CFD Administrator of (i) such owner’s intent to partially prepay the Special Tax obligation, (ii) the percentage of the Special Tax obligation such owner wishes to prepay, and (iii) the company or agency that will be acting as the escrow agent, if any. Within 5 days of receipt of such notice, the CFD Administrator shall notify such property owner of the amount of the non-refundable deposit determined to cover the cost to be incurred by the CFD in calculating the Partial Prepayment Amount. Within 15 business days of receipt of such non-refundable deposit, the CFD Administrator shall notify such owner of the amount of the Partial Prepayment Amount for the Assessor’s Parcel. A Partial Prepayment Amount must be made not less than 60 days prior to the redemption date for the Outstanding Bonds to be redeemed with the proceeds of the Partial Prepayment Amount.
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 75
Menifee Mayor and City Council
August 2, 2023
Page
558 of 729
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With respect to any Assessor’s Parcel for which the Special Tax obligation is partially prepaid, the CFD Administrator shall (i) distribute the Partial Prepayment Amount as provided in Paragraph 15 of Section G.1, and (ii) indicate in the records of the CFD that there has been a partial prepayment for the Assessor’s Parcel and that a portion of the Special Tax obligation equal to the remaining percentage (1.00 - F) of the applicable Special Tax will continue to be levied on the Assessor’s Parcel pursuant to Section E.
H. TERMINATION OF SPECIAL TAX
For each Fiscal Year that any Bonds are outstanding the Special Tax shall be levied on all Assessor’s Parcels subject to the Special Tax pursuant to Section E. The Special Tax shall cease not later than the 2064-2065 Fiscal Year, however, Special Taxes will cease to be levied in an earlier Fiscal Year if the CFD Administrator has determined (i) that all the required interest and principal payments on the CFD No. 2021-1 Bonds have been paid; (ii) all authorized facilities of CFD No. 2021-1 have been acquired and all reimbursements to the developer have been paid, (iii) no delinquent Special Taxes remain uncollected and (iv) all other obligations of CFD No. 2021-1 have been satisfied.
I. MANNER OF COLLECTION
The Special Tax shall be collected in the same manner and at the same time as ordinary ad valorem property taxes, provided, however, that CFD No. 2021-1 may collect Special Taxes at a different time or in a different manner if necessary to meet its financial obligations, and may covenant to foreclose and may actually foreclose on delinquent Assessor’s Parcels as permitted by the Act.
J. APPEALS OF SPECIAL TAXES
Any taxpayer may file a written appeal of the Special Taxes levied on his/her Assessor’s Parcel(s) with the CFD Administrator, provided that the appellant is current in his/her payments of Special Taxes. During pendency of an appeal, all Special Taxes previously levied must be paid on or before the payment date established when the levy was made. The appeal must specify the reasons why the appellant claims the Special Tax is in error. The CFD Administrator shall review the appeal, meet with the appellant if the CFD Administrator deems necessary, and advise the appellant of its determination. If the CFD Administrator agrees with the appellant, the CFD Administrator shall grant a credit to eliminate or reduce future Special Taxes on the appellant’s Assessor’s Parcel(s). No refunds of previously paid Special Taxes shall be made unless approved by the CFD Administrator.
The CFD Administrator shall interpret this Rate and Method of Apportionment and make determinations relative to the annual levy and administration of the Special Taxes and any taxpayer who appeals, as herein specified.
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 76
Menifee Mayor and City Council
August 2, 2023
Page
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APPENDIX B
CERTAIN ECONOMIC AND DEMOGRAPHIC INFORMATION
The following information relating to the City of Menifee (the “City”) and the County of Riverside, California (the “County”), California (the “State”) is supplied solely for purposes of information. Neither the City nor the County is obligated in any manner to pay principal of or interest on the Bonds or to cure any delinquency or default on the Bonds. The Bonds are payable solely from the sources described in the Official Statement.
General
The City of Menifee is located approximately 80 miles southeast of Los Angeles in the southwestern portion of Riverside County. The City was incorporated on October 1, 2008 as a general law City. As of January 1, 2023, the City has slightly more than 110,000 residents and covers an area of over 46 square miles.
Population
The following table offers population figures for the City, the County and the State for 2019 through 2023.
Area 2019 2020 2021 2022 2023
City of Menifee 94,710 102,466 104,323 107,411 110,034
County of Riverside 2,419,057 2,418,185 2,418,727 2,430,976 2,439,234 State of California 39,605,361 39,538,223 39,286,510 39,078,674 39,940,231 Source: California State Department of Finance, Demographic Research Unit. 2010 Census Benchmark for 2019 and 2020 Census Benchmark for 2020 through 2023.
Building Activity
The following tables provide summaries of the building permit valuations and the number of new dwelling units authorized in the City and County from 2018 through 2022.
BUILDING PERMIT VALUATIONS
City of Menifee
2018-2022
(Dollars in Thousands)
2018 2019 2020 2021 2022
Valuation ($000):
Residential $ 296,414 $343,285 $448,581 $391,923 $295,989 Non-residential 38,992 1,150 94,195 39,831 27,092
Total* $ 335,406 $344,435 $542,776 $431,754 $323,081
Residential Units:
Single family 967 922 1,457 1,256 796
Multiple family 0 330 0 0 0
Total 967 1,252 1,457 1,256 796
* Totals may not add to sums because of rounding.
Source: Construction Industry Research Board.
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 77
Menifee Mayor and City Council
August 2, 2023
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BUILDING PERMIT VALUATIONS
County of Riverside
2018-2022
(Dollars in Thousands)
2018 2019 2020 2021 2022
Residential $2,558,081 $2,275,405 $3,071,183 $2,262,642 $2,921,113 Non-residential 1,959,680 1,285,856 1,153,778 1,543,998 1,701,618 Total* $4,517,761 $3,561,261 $4,224,961 $3,806,640 $4,622,731 Residential Units:
Single family 7,540 6,563 8,443 7,360 8,863
Multiple family 1,628 1,798 723 1,126 2,861
Total 9,168 8,361 9,166 8,486 11,724
* Totals may not add to sums because of rounding.
Source: Construction Industry Research Board.
Employment
The following tables show the largest employers located in the City and County as of June 30, 2022.
LARGEST EMPLOYERS
City of Menifee
(as of June 30, 2022)
Rank Name of Business Employees Type of Business
1. Mt. San Jacinto College District 1,500 School District
2. Menifee Union School District 1,290 School District
3. Romoland Elementary School District 554 School District
4. Target Corporation 417 Retail Stores
5. Menifee Global Medical Center 365 Medical Center
6. Stater Brothers 362 Supermarkets
7. City of Menifee 312 City Government
8. United Parcel Service (UPS) 248 Postal Delivery Service
9. Southern California Edison 220 Community Services
10. Texas Roadhouse 200 Casual Dining
Source: City of Menifee Comprehensive Annual Financial Report for the year ending June 30, 2022.
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 78
Menifee Mayor and City Council
August 2, 2023
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LARGEST EMPLOYERS
County of Riverside
(as of June 30, 2022)
Rank Name of Business Employees Type of Business
1. County of Riverside 23,772 County Government
2. Amazon 14,500 Online Retail
3. March Air Reserve Base 9,600 Military Reserve Base
4. University of California, Riverside 8,593 University
5. Moreno Valley Unified School District 6,020 School District
6. Kaiser Permanente Riverside Medical Center 5,817 Medical Center
7. Corona-Norco Unified School District 5,478 School District
8. Riverside Unified School District 5,431 School District
9. Stater Bros 4,699 Supermarket
10. Mt. San Jacinto College Districta 4,638 School District Source: County of Riverside Comprehensive Annual Financial Report for the year ending June 30, 2022.
Employment and Industry
Employment data by industry is not separately reported on an annual basis for the City but is compiled for the Riverside-San Bernardino-Ontario Metropolitan Statistical Area (the “MSA”), which includes all of Riverside and San Bernardino counties. In addition to varied manufacturing employment, the MSA has large and growing commercial and service sector employment, as reflected in the table below.
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 79
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August 2, 2023
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The following table represents the Annual Average Labor Force and Industry Employment for the period from 2018 through 2022.
RIVERSIDE-SAN BERNARDINO-ONTARIO MSA
INDUSTRY EMPLOYMENT & LABOR FORCE - BY ANNUAL AVERAGE
2018 2019 2020 2021 2022
Civilian Labor Force 2,045,200 2,075,200 2,095,800 2,125,300 2,160,600 Civilian Employment 1,957,500 1,991,200 1,888,900 1,968,700 2,071,200 Civilian Unemployment 87,700 84,000 206,900 156,600 89,400 Civilian Unemployment Rate 4.3% 4.0% 9.9% 7.4% 4.1%
Total Farm 14,500 15,400 14,100 13,700 13,900
Total Nonfarm 1,506,600 1,552,700 1,495,800 1,575,100 1,660,300 Total Private 1,249,400 1,291,500 1,247,800 1,333,100 1,410,900 Goods Producing 206,800 209,700 202,200 207,700 216,400 Mining and Logging 1,200 1,200 1,300 1,400 1,600
Construction 105,200 107,200 104,900 110,100 115,200
Manufacturing 100,400 101,300 96,000 96,100 99,600
Service Providing 1,299,800 1,343,100 1,293,700 1,367,400 1,443,900 Trade, Transportation and Utilities 379,400 395,100 406,900 443,200 464,500 Wholesale Trade 66,100 67,700 65,600 67,400 69,700
Retail Trade 181,200 180,700 168,800 177,000 180,600
Transportation, Warehousing and Utilities 132,100 146,600 172,500 198,800 214,200 Information 11,400 11,500 9,600 9,700 10,200
Financial Activities 44,600 45,000 44,100 45,200 46,800 Professional and Business Services 151,400 157,900 154,800 169,400 179,100 Educational and Health Services 239,500 250,300 248,800 254,300 266,400 Leisure and Hospitality 170,600 175,900 141,300 160,200 179,600 Other Services 45,800 46,200 40,200 43,600 47,900
Government 257,200 261,200 248,000 242,000 249,400 Total, All Industries 1,521,100 1,568,100 1,509,900 1,588,800 1,674,200 Note: Does not include proprietors, self-employed, unpaid volunteers or family workers, domestic workers in households and persons involved in labor-management trade disputes. Employment reported by place of work. Items may not add to total due to independent rounding. The “Total, All Industries” data is not directly comparable to the employment data found in this Appendix B.
Source: State of California, Employment Development Department, March 2022 Benchmark.
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 80
Menifee Mayor and City Council
August 2, 2023
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The following table summarizes the labor force, employment and unemployment figures for the period from 2018 through 2022 for the City, the County, the State and the nation as a whole.
CITY OF MENIFEE,
COUNTY OF RIVERSIDE,
STATE OF CALIFORNIA AND UNITED STATES
Average Annual Civilian Labor Force, Employment and Unemployment Year and Area Labor Force Employment(1) Unemployment(2) Unemployment
Rate (%)(3)
2018
City of Menifee 39,100 37,400 1,700 4.3%
County of Riverside 1,091,400 1,042,700 48,700 4.5
State of California 19,263,900 18,442,400 821,500 4.3
United States 162,075,000 155,761,000 6,314,000 3.9
2019
City of Menifee 39,600 38,000 1,600 4.0%
County of Riverside 1,104,000 1,057,900 46,100 4.2
State of California 19,353,700 18,550,500 803,200 4.2
United States 163,539,000 157,538,000 6,001,000 3.7
2020
City of Menifee 41,800 37,600 4,200 10.1%
County of Riverside 1,121,100 1,008,000 113,000 10.1
State of California 18,971,600 17,047,600 1,924,000 10.1 United States 160,757,000 149,961,000 10,795,000 6.7
2021
City of Menifee 42,300 39,100 3,200 7.5%
County of Riverside 1,133,000 1,050,000 83,000 7.3
State of California 18,973,400 17,586,300 1,387,100 7.3 United States 162,410,000 156,081,000 6,329,000 3.9
2022
City of Menifee 43,000 41,200 1,800 4.2%
County of Riverside 1,152,100 1,104,100 48,000 4.1
State of California 19,252,000 18,440,900 811,000 4.2
United States 164,966,000 159,244,000 5,722,000 3.5
Note: Data is not seasonally adjusted.
(1) Annual averages, unless otherwise specified.
(2) Includes persons involved in labor-management trade disputes. (3) The unemployment rate is computed from unrounded data; therefore, it may differ from rates computed from rounded figures in this table.
Source: U.S. Department of Labor – Bureau of Labor Statistics, California Employment Development Department. 2022 Benchmark.
Personal Income
Personal Income is the income that is received by all persons from all sources. It is calculated as the sum of wage and salary disbursements, supplements to wages and salaries, proprietors’ income with inventory valuation and capital consumption adjustments, rental income of persons with capital consumption adjustment, Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 81
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personal dividend income, personal interest income, and personal current transfer receipts, less contributions for government social insurance.
The personal income of an area is the income that is received by, or on behalf of, all the individuals who live in the area; therefore, the estimates of personal income are presented by the place of residence of the income recipients.
Total personal income in Riverside County increased by 86.2% between 2010 and 2021. The following tables summarize personal income for Riverside County for 2010 through 2021.
PERSONAL INCOME
Riverside County
2010-2021
(Dollars in Thousands)
Year Riverside County
Annual
Percent Change
2010 $67,585,240 --%
2011 71,936,625 6.4
2012 74,050,799 2.9
2013 76,519,738 3.3
2014 80,776,153 5.6
2015 86,196,663 6.7
2016 90,713,807 5.2
2017 94,542,096 4.2
2018 99,266,122 5.0
2019 104,149,463 4.9
2020 115,570,337 11.0
2021 125,820,553 8.9
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
The following table summarizes per capita personal income for Riverside County, California and the United States for 2010-2021. This measure of income is calculated as the personal income of the residents of the area divided by the resident population of the area.
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 82
Menifee Mayor and City Council
August 2, 2023
Page
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PER CAPITA PERSONAL INCOME
Riverside County, State of California and the United States 2010-2021
Year Riverside County California United States
2010 $30,699 $43,636 $40,547
2011 32,200 46,175 42,739
2012 32,748 48,813 44,605
2013 33,462 49,303 44,860
2014 34,875 52,363 47,071
2015 36,745 55,833 49,019
2016 38,114 58,048 50,015
2017 39,148 60,549 52,118
2018 40,587 63,720 54,606
2019 43,295 64,919 56,250
2020 47,702 70,647 59,765
2021 51,180 76,614 64,143
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
Taxable Sales
The table below presents taxable sales for the years 2018 through 2022 for the City.
TAXABLE SALES
City of Menifee
2018-2022
(Dollars in Thousands)
Year Permits Taxable Transactions
2018 1,484 $742,128
2019 1,568 776,545
2020 1,726 752,610
2021 1,756 974,142
2022 1,915 1,071,002
Source: Taxable Sales in California, California Department of Tax and Fee Administration for 2018-2022.
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 83
Menifee Mayor and City Council
August 2, 2023
Page
566 of 729
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The table below presents taxable sales for the years 2018 through 2022 for the County.
TAXABLE SALES
County of Riverside
2018-2022
(Dollars in Thousands)
Year Permits Taxable Transactions
2018 61,433 $38,919,498
2019 64,063 40,626,998
2020 69,284 42,313,474
2021 64,335 55,535,196
2022 66,738 61,908,344
Source: Taxable Sales in California, California Department of Tax and Fee Administration for 2018-2022.
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 84
Menifee Mayor and City Council
August 2, 2023
Page
567 of 729
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APPENDIX C
FORM OF OPINION OF BOND COUNSEL
Upon issuance of the Bonds, Stradling Yocca Carlson & Rauth, a Professional Corporation, Bond Counsel, proposes to render its final approving opinion in substantially the following form:
[Closing Date]
City of Menifee
Community Facilities District No. 2021-1 (Banner Park)
Menifee, California
Re:$__________ Community Facilities District No. 2021-1 (Banner Park) of the City of Menifee Special Tax Bonds, Series 2023A
Ladies and Gentlemen:
We have examined the Constitution and the laws of the State of California, a certified record of the proceedings of the City of Menifee (the “City”) taken in connection with the formation of Community Facilities District No. 2021-1 (Banner Park) of the City of Menifee (the “District”) and the authorization and issuance of the District’s Special Tax Bonds, Series 2023A in the aggregate principal amount of $_______ (the “Bonds”) and such other information and documents as we consider necessary to render this opinion. In rendering this opinion, we have relied upon certain representations of fact and certifications made by the District, the City, the initial purchasers of the Bonds and others. We have not undertaken to verify through independent investigation the accuracy of the representations and certifications relied upon by us.
The Bonds have been issued pursuant to the Mello-Roos Community Facilities Act of 1982, as amended (comprising Chapter 2.5 of Part 1 of Division 2 of Title 5 of the Government Code of the State of California), a resolution adopted by the City Council of the City, acting in its capacity as the legislative body of the District (the “City Council”) on August 2, 2023 and a Bond Indenture dated as of November 1, 2022, as supplemented by that certain First Supplement to Bond Indenture, dated as of August 1, 2023 (collectively, the “Indenture”), each by and between the District and Wilmington Trust, National Association, as trustee (the “Trustee”). All capitalized terms not defined herein shall have the meaning set forth in the Indenture.
Based upon our examination of the foregoing, and in reliance thereon and on all matters of fact as we deem relevant under the circumstances, and upon consideration of applicable laws, we are of the opinion that:
(1) The Bonds have been duly and validly authorized by the District and are legal, valid and binding limited obligations of the District, enforceable in accordance with their terms and the terms of the Indenture.
The Bonds are limited obligations of the District but are not a debt of the City, the State of California or any other political subdivision thereof within the meaning of any constitutional or statutory limitation, and, except for the Net Taxes, neither the faith and credit nor the taxing power of the City, the State of California, or any of its political subdivisions is pledged for the payment thereof. (2) The First Supplement to Bond Indenture has been duly executed and delivered by the District.
The Indenture creates a valid pledge of, and the Bonds are secured by, the Net Taxes and the amounts on deposit in certain funds and accounts established under the Indenture, as and to the extent provided in the Indenture.
The Indenture is enforceable in accordance with its terms; provided, however, we express no opinion as to the enforceability of the covenant of the District contained in the Indenture to levy Special Taxes for the payment Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 85
Menifee Mayor and City Council
August 2, 2023
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of Administrative Expenses or as to indemnification, penalty, contribution, choice of law, choice of forum or waiver provisions contained therein.
(3) Under existing statutes, regulations, rulings and judicial decisions, interest (and original issue discount) on the Bonds is excluded from gross income for federal income tax purposes and is not an item of tax preference for purposes of calculating the federal alternative minimum tax imposed on individuals; however, for tax years beginning after December 31, 2022, with respect to applicable corporations as defined in Section 59(k) of the Internal Revenue Code of 1986, as amended (the “Code”), interest (and original issue discount) with respect to the Bonds might be taken into account in determining adjusted financial statement income for purposes of computing the alternative minimum tax imposed on such corporations. (4) Interest (and original issue discount) on the Bonds is exempt from State of California personal income tax.
(5) The difference between the issue price of a Bond (the first price at which a substantial amount of the Bonds of a maturity are to be sold to the public) and the stated redemption price at maturity with respect to such Bond constitutes original issue discount. Original issue discount accrues under a constant yield method, and original issue discount will accrue to an Owner before receipt of cash attributable to such excludable income.
The amount of original issue discount deemed received by an Owner will increase the Owner’s basis in the applicable Bond.
(6) The amount by which an Owner’s original basis for determining loss on sale or exchange in the applicable Bond (generally the purchase price) exceeds the amount payable on maturity (or on an earlier call date) constitutes amortizable Bond premium which must be amortized under Section 171 of the Code; such amortizable Bond premium reduces the Bond Owner’s basis in the applicable Bond (and the amount of tax- exempt interest received), and is not deductible for federal income tax purposes. The basis reduction as a result of the amortization of Bond premium may result in an Owner realizing a taxable gain when a Bond is sold by the Owner for an amount equal to or less (under certain circumstances) than the original cost of the Bond to the Owner.
The opinions expressed in paragraphs (3) and (5) above as to the exclusion from gross income for federal income tax purposes of interest (and original issue discount) on the Bonds is subject to the condition that the District and the City comply with all requirements of the Code, that must be satisfied subsequent to the issuance of the Bonds to assure that such interest (and original issue discount) will not become includable in gross income for federal income tax purposes. Failure to comply with such requirements of the Code might cause interest (and original issue discount) on the Bonds to be included in gross income for federal income tax purposes retroactive to the date of issuance of the Bonds. The District and the City have covenanted to comply with all such requirements. Except as set forth in paragraphs (3), (4), (5) and (6) above, we express no opinion as to any tax consequences related to the Bonds.
Certain agreements, requirements and procedures contained or referred to in the Indenture, the Tax Certificate executed by the District and the City and other documents related to the Bonds may be changed and certain actions may be taken or omitted, under the circumstances and subject to the terms and conditions set forth in such documents. We express no opinion as to the effect on the exclusion from gross income for federal income tax purposes of interest (and original issue discount) on any Bond if any such change occurs or action is taken or omitted upon advice or approval of bond counsel other than Stradling Yocca Carlson & Rauth, a Professional Corporation.
Our opinion is limited to matters governed by the laws of the State of California and federal law. We assume no responsibility with respect to the applicability or the effect of the laws of any other jurisdiction. We call attention to the fact that the rights and obligations under the Bonds, the Indenture and the Tax Certificate may be limited by bankruptcy, insolvency, reorganization, arrangement, fraudulent conveyance, moratorium and other laws relating to or affecting creditors’ rights, by the application of equitable principles and the exercise of Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 86
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August 2, 2023
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judicial discretion in appropriate cases and by the limitations on legal remedies against public agencies in the State of California.
We express no opinion herein as to the accuracy, completeness or sufficiency of the Official Statement or other offering material relating to the Bonds and expressly disclaim any duty to advise the Owners of the Bonds with respect to matters contained in the Official Statement or other offering material.
The opinions expressed herein are based upon an analysis of existing statutes, regulations, rulings and judicial decisions and cover certain matters not directly addressed by such authorities. Such opinions may be affected by actions taken (or not taken) or events occurring (or not occurring) after the date hereof. We have not undertaken to determine, or to inform any person, whether such actions or events are taken (or not taken) or do occur (or do not occur).
Respectfully submitted,
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 87
Menifee Mayor and City Council
August 2, 2023
Page
570 of 729
D-1
4868-9690-6604v5/200299-0018
APPENDIX D
APPRAISAL REPORT
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 88
Menifee Mayor and City Council
August 2, 2023
Page
571 of 729
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APPENDIX E
SUMMARY OF CERTAIN PROVISIONS OF THE BOND INDENTURE
The following is a summary of certain definitions and provisions of the Indenture which is not described elsewhere in the Official Statement. This Summary does not purport to be comprehensive and reference should be made to the Indenture for a full and complete statement of its provisions.
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 89
Menifee Mayor and City Council
August 2, 2023
Page
572 of 729
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APPENDIX F
FORM OF DISTRICT CONTINUING DISCLOSURE CERTIFICATE
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 90
Menifee Mayor and City Council
August 2, 2023
Page
573 of 729
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APPENDIX G
BOOK-ENTRY ONLY SYSTEM
The information in this Appendix concerning DTC and DTC’s book-entry only system has been obtained from sources that the District and the Underwriter believe to be reliable, but neither the District nor the Underwriter takes any responsibility for the completeness or accuracy thereof. The following description of the procedures and record keeping with respect to beneficial ownership interests in the 2023 Bonds, payment of principal, premium, if any, accreted value and interest on the 2023 Bonds to DTC Participants or Beneficial Owners, confirmation and transfers of beneficial ownership interests in the 2023 Bonds and other related transactions by and between DTC, the DTC Participants and the Beneficial Owners is based solely on information provided by DTC.
The Depository Trust Company (“DTC”), New York, NY, will act as securities depository for the 2023 Bonds. The 2023 Bonds will be issued as fully-registered securities registered in the name of Cede & Co. (DTC’s partnership nominee) or such other name as may be requested by an authorized representative of DTC. One fully registered bond will be issued for each annual maturity of the 2023 Bonds, each in the aggregate principal amount of such annual maturity, and will be deposited with DTC.
DTC, the world’s largest securities depository, is a limited-purpose trust company organized under the New York Banking Law, a “banking organization” within the meaning of the New York Banking Law, a member of the Federal Reserve System, a “clearing corporation” within the meaning of the New York Uniform Commercial Code, and a “clearing agency” registered pursuant to the provisions of Section 17A of the Securities Exchange Act of 1934.
DTC holds and provides asset servicing for over 3.5 million issues of U.S. and non-U.S. equity issues, corporate and municipal debt issues, and money market instruments (from over 100 countries) that DTC’s participants (“Direct Participants”) deposit with DTC. DTC also facilitates the post-trade settlement among Direct Participants of sales and other securities transactions in deposited securities, through electronic computerized book-entry transfers and pledges between Direct Participants’ accounts. This eliminates the need for physical movement of securities certificates. Direct Participants include both U.S. and non-U.S. securities brokers and dealers, banks, trust companies, clearing corporations, and certain other organizations. DTC is a wholly-owned subsidiary of The Depository Trust & Clearing Corporation (“DTCC”). DTCC is the holding company for DTC, National Securities Clearing Corporation and Fixed Income Clearing Corporation, all of which are registered clearing agencies. DTCC is owned by the users of its regulated subsidiaries. Access to the DTC system is also available to others such as both U.S. and non-U.S. securities brokers and dealers, banks, trust companies, and clearing corporations that clear through or maintain a custodial relationship with a Direct Participant, either directly or indirectly (“Indirect Participants”). DTC has a Standard & Poor’s rating of AA+. The DTC Rules applicable to its Participants are on file with the Securities and Exchange Commission. More information about DTC can be found at www.dtcc.com.
Purchases of 2023 Bonds under the DTC system must be made by or through Direct Participants, which will receive a credit for the 2023 Bonds on DTC’s records. The ownership interest of each actual purchaser of each Bond (“Beneficial Owner”) is in turn to be recorded on the Direct and Indirect Participants’ records. Beneficial Owners will not receive written confirmation from DTC of their purchase. Beneficial Owners are, however, expected to receive written confirmations providing details of the transaction, as well as periodic statements of their holdings, from the Direct or Indirect Participant through which the Beneficial Owner entered into the transaction. Transfers of ownership interests in the 2023 Bonds are to be accomplished by entries made on the books of Direct and Indirect Participants acting on behalf of Beneficial Owners. Beneficial Owners will not receive certificates representing their ownership interests in the 2023 Bonds, except in the event that use of the book-entry system for the 2023 Bonds is discontinued.
To facilitate subsequent transfers, all 2023 Bonds deposited by Direct Participants with DTC are registered in the name of DTC’s partnership nominee, Cede & Co., or such other name as may be requested by an authorized representative of DTC. The deposit of 2023 Bonds with DTC and their registration in the name of Cede & Co. or such other DTC nominee do not effect any change in beneficial ownership. DTC has no knowledge of the actual Beneficial Owners of the 2023 Bonds; DTC’s records reflect only the identity of the Direct Participants to whose Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 91
Menifee Mayor and City Council
August 2, 2023
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accounts such 2023 Bonds are credited, which may or may not be the Beneficial Owners. The Direct and Indirect Participants will remain responsible for keeping account of their holdings on behalf of their customers.
Conveyance of notices and other communications by DTC to Direct Participants, by Direct Participants to Indirect Participants, and by Direct Participants and Indirect Participants to Beneficial Owners will be governed by arrangements among them, subject to any statutory or regulatory requirements as may be in effect from time to time.
Beneficial Owners of 2023 Bonds may wish to take certain steps to augment the transmission to them of notices of significant events with respect to the 2023 Bonds, such as redemptions, tenders, defaults, and proposed amendments to the Bond documents. For example, Beneficial Owners of 2023 Bonds may wish to ascertain that the nominee holding the 2023 Bonds for their benefit has agreed to obtain and transmit notices to Beneficial Owners. In the alternative, Beneficial Owners may wish to provide their names and addresses to the registrar and request that copies of notices be provided directly to them.
Redemption notices shall be sent to DTC. If less than all of the 2023 Bonds within a maturity are being redeemed, DTC’s practice is to determine by lot the amount of the interest of each Direct Participant in such maturity to be redeemed.
Neither DTC nor Cede & Co. (nor any other DTC nominee) will consent or vote with respect to 2023 Bonds unless authorized by a Direct Participant in accordance with DTC’s MMI Procedures. Under its usual procedures, DTC mails an Omnibus Proxy to the District as soon as possible after the record date. The Omnibus Proxy assigns Cede & Co.’s consenting or voting rights to those Direct Participants to whose accounts 2023 Bonds are credited on the record date (identified in a listing attached to the Omnibus Proxy).
Redemption proceeds, distributions, and dividend payments on the 2023 Bonds will be made to Cede & Co., or such other nominee as may be requested by an authorized representative of DTC. DTC’s practice is to credit Direct Participants’ accounts upon DTC’s receipt of funds and corresponding detail information from the District or the Trustee, on payable date in accordance with their respective holdings shown on DTC’s records. Payments by Participants to Beneficial Owners will be governed by standing instructions and customary practices, as is the case with securities held for the accounts of customers in bearer form or registered in “street name,” and will be the responsibility of such Participant and not of DTC, the Trustee, or the District, subject to any statutory or regulatory requirements as may be in effect from time to time. Payment of redemption proceeds, distributions, and dividend payments to Cede & Co. (or such other nominee as may be requested by an authorized representative of DTC) is the responsibility of the District or the Trustee, disbursement of such payments to Direct Participants will be the responsibility of DTC, and disbursement of such payments to the Beneficial Owners will be the responsibility of Direct and Indirect Participants.
A Bond Owner shall give notice to elect to have its 2023 Bonds purchased or tendered, through its Participant, to the Trustee, and shall effect delivery of such 2023 Bonds by causing the Direct Participant to transfer the Participant’s interest in the 2023 Bonds, on DTC’s records, to the Trustee. The requirement for physical delivery of 2023 Bonds in connection with an optional tender or a mandatory purchase will be deemed satisfied when the ownership rights in the 2023 Bonds are transferred by Direct Participants on DTC’s records and followed by a book- entry credit of tendered 2023 Bonds to the Trustee’s DTC account.
DTC may discontinue providing its services as depository with respect to the 2023 Bonds at any time by giving reasonable notice to the District or the Trustee. Under such circumstances, in the event that a successor depository is not obtained, physical certificates are required to be printed and delivered.
The District may decide to discontinue use of the system of book-entry only transfers through DTC (or a successor securities depository). In that event, 2023 Bonds will be printed and delivered to DTC.
THE TRUSTEE, AS LONG AS A BOOK-ENTRY ONLY SYSTEM IS USED FOR THE 2023 BONDS, WILL SEND ANY NOTICE OF REDEMPTION OR OTHER NOTICES TO OWNERS ONLY TO DTC. ANY
FAILURE OF DTC TO ADVISE ANY DTC PARTICIPANT, OR OF ANY DTC PARTICIPANT TO NOTIFY
ANY BENEFICIAL OWNER, OF ANY NOTICE AND ITS CONTENT OR EFFECT WILL NOT AFFECT THE VALIDITY OF SUFFICIENCY OF THE PROCEEDINGS RELATING TO THE REDEMPTION OF THE 2023 BONDS CALLED FOR REDEMPTION OR OF ANY OTHER ACTION PREMISED ON SUCH NOTICE.
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 92
Menifee Mayor and City Council
August 2, 2023
Page
575 of 729
Stradling Yocca Carlson & Rauth
Draft 06/05/23
4880-0345-9428/200299-0018
FIRST SUPPLEMENT TO BOND INDENTURE
Between
COMMUNITY FACILITIES DISTRICT NO. 2021-1
(BANNER PARK) OF THE CITY OF MENIFEE
and
WILMINGTON TRUST, NATIONAL ASSOCIATION,
as Trustee
Relating to
$____________
COMMUNITY FACILITIES DISTRICT NO. 2021-1
(BANNER PARK) OF THE CITY OF MENIFEE
SPECIAL TAX BONDS, SERIES 2023A
Dated as of August 1, 2023
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 93
Menifee Mayor and City Council
August 2, 2023
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FIRST SUPPLEMENT TO BOND INDENTURE
THIS FIRST SUPPLEMENT TO BOND INDENTURE dated as of August 1, 2023 (the “First Supplement”), governs the terms of Community Facilities District No. 2021-1 (Banner Park) of the City of Menifee Special Tax Bonds, Series 2023A, which are being issued as Parity Bonds in accordance with the Bond Indenture (the “Original Bond Indenture”) dated as of November 1, 2022, by and between Community Facilities District No. 2021-1 (Banner Park) of the City of Menifee (the “District”) and Wilmington Trust, National Association (the “Trustee”), as trustee. The Original Bond Indenture and this First Supplement are hereinafter collectively referred to as the “Indenture.” RECITALS :
A. The City Council of the City of Menifee, located in the County of Riverside, California (the “City Council”), has undertaken proceedings and declared the necessity to issue bonds on behalf of the District pursuant to the terms and provisions of the Mello-Roos Community Facilities Act of 1982, as amended, being Chapter 2.5, Part 1, Division 2, Title 5, of the Government Code of the State of California (the “Act”).
B. Based upon Resolution Nos. 21-1030 and 21-1031 adopted by the City Council on June 2, 2021 and an election held on June 2, 2021, authorizing the levy of a special tax and the issuance of bonds, the District is authorized to issue bonds in one or more series pursuant to the Act, in an aggregate principal amount not to exceed $17,000,000.
C. The District previously issued its Special Tax Bonds, Series 2022A in the aggregate principal amount of $5,375,000 to finance certain Project Costs (as defined in the Original Bond Indenture) pursuant to the Original Bond Indenture; and D. The legislative body of the District intends to finance additional Project Costs through the issuance of bonds in an aggregate principal amount of $________ designated as the “Community Facilities District No. 2021-1 (Banner Park) of the City of Menifee Special Tax Bonds, Series 2023A” (the “2023 Bonds”); and
E. Pursuant to Section 6.1(b), (c) and (f) of the Original Bond Indenture, the District desires to amend the Original Bond Indenture as set forth herein in connection with the issuance of the 2023 Bonds and the District has determined that such amendments are not materially adverse to the Owners; and
F. The District has determined all requirements of the Act for the issuance of the 2023 Bonds as Parity Bonds under the terms of the Original Bond Indenture have been satisfied; NOW, THEREFORE, in order to establish the terms and conditions upon and subject to which the 2023 Bonds are to be issued, and in consideration of the premises and of the mutual covenants contained herein and of the purchase and acceptance of the 2023 Bonds by the Owners thereof, and for other valuable consideration, the receipt of which is hereby acknowledged, the District does hereby covenant and agree, for the benefit of the Owners of the 2023 Bonds, as follows:
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 94
Menifee Mayor and City Council
August 2, 2023
Page
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ARTICLE I
DEFINITIONS
Section 1.1.Definitions. All capitalized terms not otherwise defined herein shall have the meaning set forth in the Original Bond Indenture provided that the following definitions are added and, where applicable, shall supersede any different definition of the same capitalized term provided in the Original Bond Indenture:
Interest Payment Date. The term “Interest Payment Date” means, with respect to the 2023 Bonds, March 1, 2024 and each March 1 and September 1 thereafter; provided, however, that, if any such day is not a Business Day, interest up to the Interest Payment Date will be paid on the Business Day next succeeding such date.
Term Bonds. The term “Term Bonds” means, with respect to the 2023 Bonds, the 2023 Bonds maturing on September 1, 20__, September 1, 20__, and September 1, 20__. 2023 Bonds. The term “2023 Bonds” means the District’s Special Tax Bonds, Series 2023A issued on August __, 2023 in the aggregate principal amount of $_________.
ARTICLE II
GENERAL AUTHORIZATION AND BOND TERMS
Section 2.1.Amount, Issuance, Purpose and Nature of 2023 Bonds. Under and pursuant to the Act and the Original Bond Indenture, as supplemented by this First Supplement, the 2023 Bonds in the aggregate principal amount of $_______ shall be issued as Parity Bonds governed by the terms of the Original Bond Indenture, as supplemented by this First Supplement, for the purpose of financing additional Project Costs benefitting the District, funding a deposit to the Reserve Account and paying Costs of Issuance of the 2023 Bonds.
Section 2.2.Description of Bonds; Interest Rates. The 2023 Bonds shall be designated “Community Facilities District No. 2021-1 (Banner Park) of the City of Menifee Special Tax Bonds, Series 2023A.” The 2023 Bonds shall be dated as of their Delivery Date and shall mature and be payable on September 1 in the years and in the aggregate principal amounts and shall be subject to and shall bear interest at the rates set forth in the table below payable on March 1, 2024 and each Interest Payment Date thereafter:
Maturity Date
(September 1) Principal Amount Interest Rate
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 95
Menifee Mayor and City Council
August 2, 2023
Page
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_________________
(T) Term Bond.
Section 2.3.Form of 2023 Bonds. The definitive 2023 Bonds may be printed from steel engraved or lithographic plates or may be typewritten. The 2023 Bonds and the certificate of authentication shall be substantially in the form attached hereto as Exhibit A, which form is hereby approved and adopted as the form of such 2023 Bonds and of the certificate of authentication.
Only the 2023 Bonds as shall bear thereon such certificate of authentication in the form set forth in Exhibit A attached hereto shall be entitled to any right or benefit under the Indenture, and no 2023 Bond shall be valid or obligatory for any purpose until such certificate of authentication shall have been duly executed by the Trustee.
Section 2.4.Book-Entry System. The 2023 Bonds shall be initially delivered in the form of a separate single fully registered 2023 Bond (which may be typewritten) for each maturity of the 2023 Bonds. Upon initial delivery, the ownership of each such 2023 Bond shall be registered in the registration books kept by the Trustee in the name of the Nominee as nominee of the Depository.
Except as provided in Section 2.14 of the Original Bond Indenture, all of the Outstanding 2023 Bonds shall be registered in the registration books kept by the Trustee in the name of the Nominee.
Section 2.5.Conditions to Issuance of 2023 Bonds. The 2023 Bonds shall not be issued unless and until the conditions for the issuance of the 2023 Bonds as Parity Bonds pursuant to 9.2 of the Original Bond Indenture shall have been satisfied or will be satisfied upon the issuance of the 2023 Bonds.
ARTICLE III
APPLICATION OF PROCEEDS OF 2023 BONDS
Section 3.1.Application of Proceeds.
(a)The proceeds of the sale of the Bonds shall be received by the Trustee on behalf of the District and deposited and transferred as follows:
(1) $_______ shall be transferred to the Costs of Issuance Account of the Acquisition and Construction Fund to pay the Costs of Issuance of the Bonds; (2) $_______ shall be transferred to the Reserve Account of the Special Tax Fund to increase the amount therein to the Reserve Requirement as of the Delivery Date of the 2023 Bonds;
(3) $_______ shall be transferred to the Acquisition and Construction Fund of which $_______ shall be deposited in the City Facilities Account, $_________ shall be deposited in the Water Facilities Account and $_______shall be deposited in the School Facilities Account.
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 96
Menifee Mayor and City Council
August 2, 2023
Page
579 of 729
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The Trustee may, in its discretion, establish temporary funds or accounts in its books and records to facilitate such transfers.
ARTICLE IV
REDEMPTION OF 2023 BONDS
Section 4.1.Redemption of 2023 Bonds.
(a)Optional Redemption. The 2023 Bonds may be redeemed at the option of the District from any source of funds on any Interest Payment Date on or after September 1, 20__, in whole or in part, from such maturities as are selected by the District and by lot within a maturity, at the following redemption prices, expressed as a percentage of the principal amount to be redeemed, together with accrued interest to the date of redemption:
Redemption Date Redemption Price
%
In the event that the District elects to redeem 2023 Bonds as provided above, the District shall give written notice to the Trustee of its election to so redeem, the redemption date and the principal amount of the 2023 Bonds of each maturity to be redeemed. The notice to the Trustee shall be given at least 30 but no more than 60 days prior to the redemption date, or by such later date as is acceptable to the Trustee.
(b)Mandatory Sinking Fund Redemption. The 2023 Bonds maturing on September 1, 20__ (the “20__ Term Bonds”) shall be called before maturity and redeemed, from the Sinking Fund Payments that have been deposited into the Redemption Account established under the Original Bond Indenture, on September 1, 20__, and on each September 1 thereafter prior to maturity, in accordance with the schedule of Sinking Fund Payments set forth below. The 20__ Term Bonds so called for redemption shall be selected by the Trustee by lot and shall be redeemed at a redemption price for each redeemed 20__ Term Bond equal to the principal amount thereof, plus accrued interest to the redemption date, without premium, as follows Term Bonds Maturing September 1, 20__
Redemption Dates
(September 1)
Redemption
Amount
*
_____________
* Maturity.
Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 97
Menifee Mayor and City Council
August 2, 2023
Page
580 of 729
5 4880-0345-9428/200299-0018
The 2023 Bonds maturing on September 1, 20__ (the “20__ Term Bonds”) shall be called before maturity and redeemed, from the Sinking Fund Payments that have been deposited into the Redemption Account established under the Original Bond Indenture, on September 1, 20__, and on each September 1 thereafter prior to maturity, in accordance with the schedule of Sinking Fund Payments set forth below. The 20__ Term Bonds so called for redemption shall be selected by the Trustee by lot and shall be redeemed at a redemption price for each redeemed 20__ Term Bond equal to the principal amount thereof, plus accrued interest to the redemption date, without premium, as follows
Term Bonds Maturing September 1, 20__
Redemption Dates
(September 1)
Redemption
Amount
*
_____________
* Maturity.
The 2023 Bonds maturing on September 1, 20__ (the “20__ Term Bonds”) shall be called before maturity and redeemed, from the Sinking Fund Payments that have been deposited into the Redemption Account established under the Original Bond Indenture, on September 1, 20__, and on each September 1 thereafter prior to maturity, in accordance with the schedule of Sinking Fund Payments set forth below. The 20__ Term Bonds so called for redemption shall be selected by the Trustee by lot and shall be redeemed at a redemption price for each redeemed 20__ Term Bond equal to the principal amount thereof, plus accrued interest to the redemption date, without premium, as follows
Term Bonds Maturing September 1, 20__
Redemption Dates
(September 1)
Redemption
Amount
*
_____________
* Maturity.
If the District purchases Term Bonds during the Fiscal Year immediately preceding one of the sinking fund redemption dates specified above, the District shall notify the Trustee at least 45 days prior to the redemption date as to the principal amount purchased, and the amount purchased shall be credited at the time of purchase to the next Sinking Fund Payment for the Term Bond so purchased, to the extent of the full principal amount of the purchase. All 2023 Bonds purchased Item Title: 12.2
Community Facilities District 2021-1 (Banner Park), Issuance of Special Tax Bonds, Series 2023A Item Page Number: 98
Menifee Mayor and City Council
August 2, 2023
Page
581 of 729
6 4880-0345-9428/200299-0018
pursuant to this subsection shall be cancelled pursuant to Section 10.1 of the Original Bond Indenture.
In the event of a partial optional redemption or special mandatory redemption of the Term Bonds, each of the remaining Sinking Fund Payments for such Term Bonds shall be reduced, as nearly as practicable, on a pro rata basis.
(c)Special Mandatory Redemption. The 2023 Bonds are subject to special mandatory redemption as a whole or in part on a pro rata basis among maturities and by lot within a maturity, on any Interest Payment Date on or after March 1, 2024 and shall be redeemed by the Trustee, from Prepayments deposited to the Redemption Account pursuant to Section 3.2 of the Original Bond Indenture, plus amounts transferred from the Reserve Account pursuant to Section 3.6(c) of the Original Bond Indenture, at the following redemption prices, expressed as a percentage of the principal amount to be redeemed, together with accrued interest to the redemption date:
Redemption Date Redemption Price
%
ARTICLE V
AMENDMENTS
Section 5.1.Amendment to Section 9.2 of the Original Bond Indenture. The first paragraph of Section 9.2 of the Original Bond Indenture is hereby amended and restated to state as follows:
“The District may at any time after the issuance and delivery of the Bonds hereunder issue Parity Bonds payable from the Net Taxes and other amounts deposited in the Special Tax Fund (other than in the Administrative Expense Account therein) and secured by a lien and charge upon such amounts equal to the lien and charge securing the Outstanding Bonds and any other Parity Bonds theretofore issued hereunder or under any Supplemental Indenture; provided, however, Parity Bonds may only be issued for the purpose of refunding all or a portion of the Bonds or any Parity Bonds then Outstanding. Parity Bonds may be issued subject to the following additional specific conditions, which are hereby made conditions precedent to the issuance of any such Parity Bonds:” Subparagraph (6) of Section 9.2(c) of the Original Bond Indenture is hereby deleted in its entirety and Subparagraph (7) of Section 9.2(c) of the Original Bond Indenture is hereby renumbered as Subparagraph (6).