Menifee City Council
August 7, 2024

Improvement Area No. 3, and Improvement Area No. 4 therein, in accordance with the MelloRoos Community Facilities Act of 1982, as amended, (the “Mello-Roos Act”) to finance the costs of certain public improvements through the levy of a special tax and the issuance of bonds in an amount not to exceed $7,000,000 for each of Improvement Area Nos. 1 through 3 and $13,000,000 for Improvement Area No. 4, for a total of $34,000,000.

The Developer requested that the boundaries of CFD No. 2024-2 and the Improvement Areas therein include the area described in “Exhibit A” of the Resolution of Intention and that special taxes be levied within the boundaries of each Improvement Area in accordance with their respective Rate and Method of Apportionment (“RMA”) as described in Exhibits C through F, respectively, of the Resolution of Intention, which is included as an appendix to the attached Public Hearing Report.

The Resolution of Intention called for a public hearing to be held on August 7, 2024, for the City Council to formally consider the formation of CFD 2024-2, the designation of the four Improvement Areas therein, and the levy of the special taxes within each of the Improvement Areas. Notice of the public hearing was published in the Press Enterprise and mailed to the Developer in accordance with the Mello-Roos Act.

In connection with the public hearing, Spicer Consulting Group has prepared a Public Hearing Report that describes and analyzes the facilities to be financed by the CFD and the estimated costs of such facilities. Following the close of the public hearing, the City Council will be asked to adopt the Resolution of Formation and the Resolution Determining the Necessity to Incur Debt, which, together, approve the formation of the CFD, the designation of the four separate Improvement Areas therein, and the levy of the special taxes within each Improvement Area in accordance with the applicable RMA and determine the necessity for the CFD to issue bonds for each Improvement Area in the amounts stated above. Such resolutions call for elections to submit to the qualified voters in each of the four Improvement Areas ballot measures on the approval of the special taxes, the issuance of bonds and an appropriations limit for the CFD.

The Developer expects to request approval of an Acquisition, Construction and Funding Agreement with the Developer (the “Funding Agreement”) and a Joint Community Facilities Agreement with the Developer and Eastern Municipal Water District (“JCFA”) at a subsequent City Council meeting. The Funding Agreement is expected to set forth the terms, among others, pursuant to which the CFD will finance improvements to be constructed by the developer. In accordance with the Mello-Roos Act, the approval and execution of the JCFA allows for the CFD to finance improvements to be owned and operated by Eastern Municipal Water District, which benefit the development within the CFD.

On file with the City Clerk is a Certificate of the Registrar of Voters of Riverside County certifying that there are no registered voters residing within the boundaries of the CFD. Accordingly, under the Mello-Roos Act, only landowners in each of the four Improvement Areas are eligible to vote at the election, with each owner having one vote for each acre (or portion thereof) that they own within the applicable Improvement Area. The Developer as the sole landowner in each Improvement Area, has executed consents and waivers of certain election procedures for the election within each Improvement Area, including certain timing requirements with respect to the election in accordance with the Mello-Roos Act. Accordingly, if the City Council approves the Item Title: 11.4
Ordinance Introduction and Formation of Community Facilities District No. 2024-2, Golden Meadows by Golden Meadowland, LLC and Golden Hill Country, LLC
Item Page Number: 2
Menifee Mayor and City Council August 7, 2024 Page 1147 of 1560 City of Menifee Staff Report
Ordinance Introduction and Formation of CFD No. 2024-2, Golden Meadows August 7, 2024

Resolution of Formation and the Resolution Determining the Necessity to Incur Debt, the City Clerk would conduct the elections. The City Clerk would announce election results and the City Council would be asked to adopt the Resolution Certifying the Election Results. Based upon certification that two-thirds of the votes cast are in favor of the propositions voted upon for an Improvement Area, the Resolution Certifying the Election Results directs the City Clerk to record a notice of special tax lien on the property within such Improvement Area. The City Council would then be asked to introduce the ordinance authorizing the levy of the special tax within each Improvement Area in accordance with the applicable RMA.

STRATEGIC PLAN OBJECTIVE
Regular City Business

FISCAL IMPACT
The CFD would be required to annually levy special taxes on all taxable property within the CFD in order to pay for the costs of facilities, debt service on bonds and administration of the CFD.

Any bonds issued by the CFD are not obligations of the City and would be secured solely by the special taxes levied in the applicable Improvement Area. The Developer has made a deposit to pay for the costs of forming the CFD. The future Funding Agreement is expected to include a provision for reimbursement of these costs to the Developer if and when bonds are issued for the CFD.

ATTACHMENTS

1. Resolution of Formation City of Menifee CFD 2024-2

2. Resolution Determining Necessity to Incur Debt for CFD No. 2024-2

3. Resolution Certifying Election Results for CFD No. 2024-2

4. Ordinance Authorizing the Levy of Special Taxes

5. Public Hearing Report

6. Certificate of Registrar of Voters
Item Title: 11.4
Ordinance Introduction and Formation of Community Facilities District No. 2024-2, Golden Meadows by Golden Meadowland, LLC and Golden Hill Country, LLC
Item Page Number: 3
Menifee Mayor and City Council August 7, 2024 Page 1148 of 1560 4890-4670-2029v3/200299-0025
RESOLUTION NO. 24-__

RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MENIFEE ESTABLISHING COMMUNITY FACILITIES DISTRICT NO. 2024-2 (GOLDEN MEADOWS) OF THE

CITY OF MENIFEE AND IMPROVEMENT AREAS THEREIN, AUTHORIZING THE

LEVY OF A SPECIAL TAX THEREIN, CALLING AN ELECTION WITHIN EACH

IMPROVEMENT AREA AND APPROVING AND AUTHORIZING CERTAIN ACTIONS

RELATED THERETO
WHEREAS, the City Council (the “City Council”) of the City of Menifee (the “City”) has heretofore adopted Resolution No. 24-1449 stating its intention to form Community Facilities District No. 2024-2 (Golden Meadows) of the City of Menifee (“Community Facilities District No. 2024-2” or the “District”) pursuant to the Mello-Roos Community Facilities Act of 1982, as amended, being Chapter 2.5 of Part 1 of Division 2 of Title 5 of the Government Code of the State of California (the “Act”) and to form four improvement areas within proposed Community Facilities District No. 2024-2 to be known as “Improvement Area No. 1 of Community Facilities District No. 2024-2 (Golden Meadows) of the City of Menifee (“Improvement Area No. 1”), “Improvement Area No. 2 of Community Facilities District No. 2024-2 (Golden Meadows) of the City of Menifee (“Improvement Area No. 2”), “Improvement Area No. 3 of Community Facilities District No. 2024-2 (Golden Meadows) of the City of Menifee (“Improvement Area No. 3”), and “Improvement Area No. 4 of Community Facilities District No. 2024-2 (Golden Meadows) of the City of Menifee” (“Improvement Area No. 4” and together with Improvement Area No. 1, Improvement Area No. 2 and Improvement Area No. 3, the “Improvement Areas” and each individually an “Improvement Area”); and
WHEREAS, a copy of Resolution No 24-1449 setting forth a description of the proposed boundaries of Community Facilities District No. 2024-2 and each of the Improvement Areas, the facilities and incidental expenses to be financed by the District and the rate and method of apportionment of the special tax proposed to be levied within each Improvement Area is on file with the City Clerk; and
WHEREAS, notice was published and mailed to all landowners of the land proposed to be included within the District as required by law relative to the intention of this City Council to form proposed Community Facilities District No. 2024-2 and the Improvement Areas and to levy a special tax (the “Special Tax”) within each Improvement Area and to incur bonded indebtedness in the maximum aggregate amount of up to $7,000,000 within proposed Improvement Area No. 1, $7,000,000 within proposed Improvement Area No. 2, $7,000,000 within proposed Improvement Area No. 3 and $13,000,000 within proposed Improvement Area No. 4 therein to finance the facilities and incidental expenses described in Resolution No. 24-1449; and
WHEREAS, on August 7, 2024, this City Council conducted a noticed public hearing as required by law relative to the proposed formation of Community Facilities District No. 2024-2 and the Improvement Areas, the levy of the Special Tax within each Improvement Area and the issuance of bonded indebtedness by the District for each Improvement Area; and WHEREAS, at the August 7, 2024, public hearing there was filed with this City Council a report containing a description of the facilities necessary to meet the needs of the District and an estimate of the cost of such facilities as required by Section 53321.5 of the Act (the “Engineer’s Report”); and WHEREAS, at the August 7, 2024, public hearing all persons desiring to be heard on all matters pertaining to the formation of Community Facilities District No. 2024-2 and the Improvement Areas, the levy of the Special Tax within each Improvement Area and the issuance of bonded indebtedness by the District for each of the Improvement Areas were heard and full and fair hearings were held; and Item Title: 11.4
Ordinance Introduction and Formation of Community Facilities District No. 2024-2, Golden Meadows by Golden Meadowland, LLC and Golden Hill Country, LLC
Item Page Number: 1
Menifee Mayor and City Council August 7, 2024 Page 1149 of 1560 Resolution Establishing CFD No. 2024-2 (Golden Meadows) 2 4890-4670-2029v3/200299-0025
WHEREAS, following the public hearing, this City Council has determined to authorize the formation of the District to finance the types of facilities (the “Facilities”) and the incidental expenses (the “Incidental Expenses”) set forth in Exhibit A hereto, which are described in more detail in the Engineer’s Report; and
WHEREAS, at the public hearing evidence was presented to this City Council on the matters before it, and the proposed Special Tax to be levied within each of the Improvement Areas was not precluded by a majority protest of the type described in Section 53324 of the Act, and this City Council at the conclusion of the hearing was fully advised as to all matters relating to the formation of the District and the Improvement Areas, the levy of the Special Tax and the issuance of bonded indebtedness within each of the Improvement Areas; and
WHEREAS, this City Council has determined, based on a Certificate of Registrar of Voters of the County of Riverside on file in the office of the City Clerk, that no registered voters have been residing in the proposed boundaries of Community Facilities District No. 2024-2 for each of the 90 days prior to August 7, 2024, and that the qualified electors in Community Facilities District No. 2024-2 are the landowners within the District; and
WHEREAS, on the basis of all of the foregoing, this City Council has determined to proceed with the establishment of Community Facilities District No. 2024-2 and the Improvement Areas and to call an election within each Improvement Area to authorize (i) the levy of a Special Tax within Improvement Area No. 1 pursuant to the rate and method of apportionment of the special tax, as set forth in Exhibit C to Resolution No. 24-1449 (the “Improvement Area No. 1 Rate and Method”), (ii) the levy of a Special Tax within Improvement Area No. 2 pursuant to the rate and method of apportionment of the special tax, as set forth in Exhibit D to Resolution No. 24-1449 (the “Improvement Area No. 2 Rate and Method”), (iii) the levy of a Special Tax within Improvement Area No. 3 pursuant to the rate and method of apportionment of the special tax, as set forth in Exhibit E to Resolution No. 24-1449 (the “Improvement Area No. 3 Rate and Method”), (iv) the levy of a Special Tax within Improvement Area No. 4 pursuant to the rate and method of apportionment of the special tax, as set forth in Exhibit F to Resolution No. 24-1449 (the “Improvement Area No. 4 Rate and Method” and together with the Improvement Area No. 1 Rate and Method, the Improvement Area No. 2 Rate and Method, and the Improvement Area No. 3 Rate and Method, the “Rates and Methods” and each a “Rate and Method”), (v) the issuance of bonds within each of the Improvement Areas to finance the Facilities and Incidental Expenses, and (iv) the establishment of an appropriations limit for Community Facilities District No. 2024-2.

NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Menifee, California, hereby finds, determines and orders as follows:

Section 1. Each of the above recitals is true and correct.

Section 2. A community facilities district to be designated “Community Facilities District No. 2024-2 (Golden Meadows) of the City of Menifee” is hereby established pursuant to the Act and Improvement Area Nos. 1 through 4 are hereby designated within the District in accordance with 53350 of the Act. The City Council hereby finds and determines that all prior proceedings taken with respect to the establishment of the District were valid and in conformity with the requirements of law, including the Act. This finding is made in accordance with the provisions of Section 53325.1(b) of the Act.

Section 3. The boundaries of Community Facilities District No. 2024-2 and each of the Improvement Areas are established as shown on the map designated “Proposed Item Title: 11.4
Ordinance Introduction and Formation of Community Facilities District No. 2024-2, Golden Meadows by Golden Meadowland, LLC and Golden Hill Country, LLC
Item Page Number: 2
Menifee Mayor and City Council August 7, 2024 Page 1150 of 1560 Resolution Establishing CFD No. 2024-2 (Golden Meadows) 3 4890-4670-2029v3/200299-0025
Boundary Map of Community Facilities District No. 2024-2 (Golden Meadows) of the City of Menifee, County of Riverside, State of California”, which map is on file in the office of the City Clerk and was recorded pursuant to Sections 3111 and 3113 of the Streets and Highways Code in the County Book of Maps of Assessment and Community Facilities Districts in the Assessor-County Clerk-Recorder’s office of the County of Riverside in Book No. 93 Page No. 42 on June 24, 2024 as Instrument No. 2024-0181135.

Section 4. The types of Facilities and Incidental Expenses authorized to be provided for Community Facilities District No. 2024-2 are those set forth in Exhibit A attached hereto. The estimated cost of the Facilities and Incidental Expenses to be financed is set forth in the Engineer’s Report, which estimates may change as the Facilities are designed and bid for construction and acquisition, as applicable.

The City is authorized by the Act to contribute revenue to, or to construct or acquire the Facilities, all in accordance with the Act. The City Council finds and determines that the proposed Facilities are necessary to meet the increased demand that will be placed upon local agencies and public infrastructure as a result of new development within the District and that the Facilities to be financed, including those to be financed pursuant to the JCFA to be entered into with the Water District, benefit residents of the City and the future residents of the District.

Section 5. Except where funds are otherwise available, it is the intention of this City Council, subject to the approval of the eligible voters within each Improvement Area, to levy annually a Special Tax at the rates set forth in each Rate and Method, on all non-exempt property within each Improvement Area sufficient to pay for (i) the Facilities, (ii) principal and interest and other periodic costs on the bonds proposed to be issued to finance the Facilities and Incidental Expenses to be financed by such Improvement Area, including the establishment and replenishment of reserve funds, any remarketing, credit enhancement and liquidity facility fees and other expenses of the type permitted by Section 53345.3 of the Act, and (iii) the Incidental Expenses. The District expects to incur, and in certain cases has already incurred, Incidental Expenses in connection with the creation of the District, the issuance of bonds, the levying and collecting of the Special Tax, the completion and inspection of the Facilities and the annual administration of the bonds and the District.

Section 6. The Improvement Area No. 1 Rate and Method is described in detail in Exhibit C to Resolution No. 24-1449 and is incorporated herein by this reference, and the City Council hereby finds that the Improvement Area No. 1 Rate and Method contains sufficient detail to allow each landowner within Improvement Area No. 1 to estimate the maximum amount that may be levied against each parcel. The Improvement Area No. 2 Rate and Method is described in detail in Exhibit D to Resolution No. 24-1449 and is incorporated herein by this reference, and the City Council hereby finds that the Improvement Area No. 2 Rate and Method contains sufficient detail to allow each landowner within Improvement Area No. 2 to estimate the maximum amount that may be levied against each parcel. The Improvement Area No. 3 Rate and Method is described in detail in Exhibit E to Resolution No. 24-1449 and is incorporated herein by this reference, and the City Council hereby finds that the Improvement Area No. 3 Rate and Method contains sufficient detail to allow each landowner within Improvement Area No. 3 to estimate the maximum amount that may be levied against each parcel. The Improvement Area No. 4 Rate and Method is described in detail in Exhibit F to Resolution No. 24-1449 and is incorporated herein by this reference, and the City Item Title: 11.4
Ordinance Introduction and Formation of Community Facilities District No. 2024-2, Golden Meadows by Golden Meadowland, LLC and Golden Hill Country, LLC
Item Page Number: 3
Menifee Mayor and City Council August 7, 2024 Page 1151 of 1560 Resolution Establishing CFD No. 2024-2 (Golden Meadows) 4 4890-4670-2029v3/200299-0025
Council hereby finds that the Improvement Area No. 4 Rate and Method contains sufficient detail to allow each landowner within Improvement Area No. 4 to estimate the maximum amount that may be levied against each parcel.

As described in greater detail in the Engineer’s Report, which is incorporated by reference herein, the Special Tax to be levied within an Improvement Area is based on the expected demand that each parcel of real property within the Improvement Area will place on the Facilities and on the benefit that each parcel will derive from the right to access the Facilities and, accordingly, is hereby determined to be reasonable. The Special Tax within the Improvement Areas shall be levied on each assessor’s parcel in accordance with the Improvement Area No. 1 Rate and Method, the Improvement Area No. 2 Rate and Method, the Improvement Area No. 3 Rate and Method and the Improvement Area No. 4 Rate and Method, as applicable, provided, however, that the Special Tax within the Improvement Areas shall not be levied after Fiscal Year 2069-70.

The Special Tax is apportioned to each parcel within an Improvement Area on the foregoing bases pursuant to Section 53325.3 of the Act and such Special Tax is not on or based upon the ownership of real property or the assessed value of real property.

If Special Taxes of an Improvement Area are levied against any parcel used for private residential purposes, (i) the maximum Special Tax rate shall be specified as a dollar amount which shall be calculated and established not later than the date on which the parcel is first subject to the Special Tax because of its use for private residential purposes and shall not be increased over time except as authorized under the rate and method of apportionment of the Special Tax for such Improvement Area; (ii) the Special Tax within the Improvement Area shall not be levied after Fiscal Year 2069-70, and (iii) under no circumstances will the Special Tax levied in any fiscal year against any such parcel used for private residential uses be increased as a consequence of delinquency or default by the owner or owners of any other parcel or parcels within such Improvement Area by more than ten percent above the amount that would have been levied in that fiscal year had there never been any such delinquencies or defaults.

The City Manager of the City of Menifee, or his or her designee, will be responsible for preparing annually, or authorizing a designee to prepare, a current roll of special tax levy obligations by assessor’s parcel number and will be responsible for estimating future special tax levies pursuant to Section 53340.2 of the Act.

Section 7. In the event that a portion of the property within an Improvement Area shall become for any reason exempt, wholly or partially, from the levy of the Special Tax specified in the applicable Rate and Method, or in the event of delinquencies in the payment of Special Taxes levied, the City Council shall, on behalf of Community Facilities District No. 2024- 2, increase the levy to the extent necessary and permitted by law and these proceedings upon the remaining property within such Improvement Area which is not exempt or delinquent in order to yield the required debt service payments on any outstanding bonds of the District for such Improvement Area, or to prevent the District from defaulting on any other of its obligations or liabilities payable from the special taxes of such Improvement Area; provided, however, under no circumstances will the Special Tax levied against any parcel in an Improvement Area used for private residential uses be increased as a consequence of delinquency or default by the owner or owners of any other parcel or parcels within such Improvement Area by more than ten percent above the amount that would have been levied in that fiscal year had there never been any such delinquencies or defaults. The amount of the Special Tax for parcels within an Item Title: 11.4
Ordinance Introduction and Formation of Community Facilities District No. 2024-2, Golden Meadows by Golden Meadowland, LLC and Golden Hill Country, LLC
Item Page Number: 4
Menifee Mayor and City Council August 7, 2024 Page 1152 of 1560 Resolution Establishing CFD No. 2024-2 (Golden Meadows) 5 4890-4670-2029v3/200299-0025
Improvement Area will be set in accordance with the applicable Rate and Method. The obligation to pay Special Taxes may be prepaid only as set forth in Section G of each Rate and Method.

Section 8. Upon recordation of a notice of special tax lien for an Improvement Area pursuant to Section 3114.5 of the Streets and Highways Code, a continuing lien to secure each levy of the Special Tax shall attach to all non-exempt real property in such Improvement Area and this lien shall continue in force and effect until the Special Tax obligation is prepaid and permanently satisfied and the lien canceled with respect to such Improvement Area in accordance with law or until collection of the Special Tax for such Improvement Area by the District ceases.

Section 9. Consistent with Section 53325.6 of the Act, the City Council finds and determines that the land within Community Facilities District No. 2024-2, if any, devoted primarily to agricultural, timber or livestock uses and being used for the commercial production of agricultural, timber or livestock products is contiguous to other land within Community Facilities District No. 2024-2 and will be benefited by the Facilities proposed to be provided within Community Facilities District No. 2024-2.

Section 10. It is hereby further determined that there is no ad valorem property tax currently being levied on property within proposed Community Facilities District No. 2024-2 for the exclusive purpose of paying the principal of or interest on bonds or other indebtedness incurred to finance the construction of capital facilities which provide the same services to the territory of Community Facilities District No. 2024-2 as are proposed to be provided by the Facilities to be financed by Community Facilities District No. 2024-2.

Section 11. Written protests against the establishment of the District and the designation of the Improvement Areas have not been filed by one-half or more of the registered voters within the boundaries of the District or either Improvement Area or by the property owners of one-half (1/2) or more of the area of land within the District or either Improvement Area. The City Council hereby finds that the proposed Special Tax has not been precluded by a majority protest pursuant to Section 53324 of the Act.

Section 12. An election is hereby called for Improvement Area No. 1 on the propositions of levying the Special Tax on the property within Improvement Area No. 1 and establishing an appropriations limit for the District pursuant to Section 53325.7 of the Act and shall be consolidated with the election on the proposition of incurring bonded indebtedness for Improvement Area No. 1, pursuant to Sections 53351 and 53353.5 of the Act. The language of the propositions to be placed on the ballot is attached hereto as Exhibit B.

An election is hereby called for Improvement Area No. 2 on the propositions of levying the Special Tax on the property within Improvement Area No. 2 and establishing an appropriations limit for the District pursuant to Section 53325.7 of the Act and shall be consolidated with the election on the proposition of incurring bonded indebtedness for Improvement Area No. 2. Pursuant to Section 53351 and 53353.5 of the Act. The language of the propositions to be placed on the ballot is attached hereto as Exhibit C.

An election is hereby called for Improvement Area No. 3 on the propositions of levying the Special Tax on the property within Improvement Area No. 3 and establishing an appropriations limit for the District pursuant to Section 53325.7 of the Act and shall be consolidated with the election on the proposition of incurring bonded indebtedness for Item Title: 11.4
Ordinance Introduction and Formation of Community Facilities District No. 2024-2, Golden Meadows by Golden Meadowland, LLC and Golden Hill Country, LLC
Item Page Number: 5
Menifee Mayor and City Council August 7, 2024 Page 1153 of 1560 Resolution Establishing CFD No. 2024-2 (Golden Meadows) 6 4890-4670-2029v3/200299-0025
Section 13. Improvement Area No. 3, pursuant to Sections 53351 and 53353.5 of the Act. The language of the propositions to be placed on the ballot is attached hereto as Exhibit D.

An election is hereby called for Improvement Area No. 4 on the propositions of levying the Special Tax on the property within Improvement Area No. 4 and establishing an appropriations limit for the District pursuant to Section 53325.7 of the Act and shall be consolidated with the election on the proposition of incurring bonded indebtedness for Improvement Area No. 4, pursuant to Sections 53351 and 53353.5 of the Act. The language of the propositions to be placed on the ballot is attached hereto as Exhibit E.

Section 14. The date of the elections for each of the Improvement Areas on the propositions of incurring the bonded indebtedness, authorizing the levy of the Special Tax and establishing an appropriations limit for the District shall be August 7, 2024, or such later date as is consented to by the City Clerk or any Acting City Clerk (referred to herein as the “City Clerk”) of the City of Menifee; provided that, if the election is to take place sooner than 90 days after August 7, 2024, then the unanimous written consent of each qualified elector within such Improvement Area to such election date must be obtained.

The polls shall be open for said election immediately following the close of the public hearing on August 7, 2024. The election shall be conducted by the City Clerk. Except as otherwise provided by the Act, the election shall be conducted in accordance with the provisions of law regulating elections of the City of Menifee insofar as such provisions are determined by the City Clerk to be applicable. The City Clerk is authorized to conduct the election following the adoption of this resolution, and all ballots shall be received by, and the City Clerk shall close the election by, 11:00 p.m. on the election day; provided the election shall be closed at such earlier time as all qualified electors have voted as provided in Section 53326(d) of the Act. Pursuant to Section 53326 of the Act, the ballots for the special election shall be distributed in person or by mail with return postage prepaid, to the qualified electors within each of the Improvement Areas.

The City Clerk has secured certificates from the Registrar of Voters of the County of Riverside certifying that there were no registered voters within the District as of June 12, 2024. Accordingly, since there were fewer than 12 registered voters within the District for each of the 90 days preceding August 7, 2024, the qualified electors shall be the landowners within each of the Improvement Areas and each landowner, or the authorized representative thereof, shall have one vote for each acre or portion thereof that such landowner owns within the respective Improvement Area, as provided in Section 53326 of the Act. The landowners within each Improvement Area have each executed and delivered a waiver of certain election law requirements and consenting to the holding of the election therein on August 7, 2024, which waiver is on file with the City Clerk.

Section 15. The preparation of the Engineer’s Report is hereby ratified. The Engineer’s Report, as submitted, is hereby approved and was made a part of the record of the public hearing regarding the formation of Community Facilities District No. 2024-2. The Engineer’s Report is ordered to be kept on file with the transcript of these proceedings and open for public inspection.

Section 16. The District may accept advances of funds or work-in-kind from any source, including, but not limited to, private persons or private entities, for any authorized purpose, including, but not limited to, paying any cost incurred in creating Community Facilities Item Title: 11.4
Ordinance Introduction and Formation of Community Facilities District No. 2024-2, Golden Meadows by Golden Meadowland, LLC and Golden Hill Country, LLC
Item Page Number: 6
Menifee Mayor and City Council August 7, 2024 Page 1154 of 1560 Resolution Establishing CFD No. 2024-2 (Golden Meadows) 7 4890-4670-2029v3/200299-0025
District No. 2024-2. The District may enter into an agreement with the person or entity advancing the funds or work-in-kind, to repay all or a portion of the funds advanced, or to Item Title: 11.4
Ordinance Introduction and Formation of Community Facilities District No. 2024-2, Golden Meadows by Golden Meadowland, LLC and Golden Hill Country, LLC
Item Page Number: 7
Menifee Mayor and City Council August 7, 2024 Page 1155 of 1560 Resolution Establishing CFD No. 2024-2 (Golden Meadows) 7 4890-4670-2029v3/200299-0025
reimburse the person or entity for the value, or cost, whichever is less, of the work-inkind, as determined by the City Council, with or without interest.

Section 17. This Resolution shall be effective upon its adoption.

PASSED, APPROVED AND ADOPTED this the 7th day of August, 2024. ___________________________
Bill Zimmerman, Mayor
Attest:
___________________________
Stephanie Roseen, Acting City Clerk
Approved as to form:
___________________________
Jeffrey T. Melching, City Attorney
Item Title: 11.4
Ordinance Introduction and Formation of Community Facilities District No. 2024-2, Golden Meadows by Golden Meadowland, LLC and Golden Hill Country, LLC
Item Page Number: 8
Menifee Mayor and City Council August 7, 2024 Page 1156 of 1560 A-1
4890-4670-2029v3/200299-0025

EXHIBIT A
Types of Facilities To Be
Financed By Community
Facilities District No. 2024-2
The proposed types of public facilities and expenses to be financed by the District include:

The construction, purchase, modification, rehabilitation, expansion and/or improvement of (i) drainage, library, park, roadway, traffic, administration and general government facilities, animal shelter facilities, fire and safety, and other public facilities of the City, including the foregoing public facilities which are included in the City’s fee programs with respect to such facilities and authorized to be financed under the Mello-Roos Community Facilities Act of 1982, as amended (the “City Facilities”); and (ii) water and sewer facilities, including the acquisition of capacity in the sewer system and/or water system of the Eastern Municipal Water District and water and sewer facilities included in Eastern Municipal Water District’s water and sewer capacity and connection fee programs (the “Water District Facilities” and together, with the City Facilities and the Water Facilities, the “Facilities”), and all appurtenances and appurtenant work in connection with the foregoing Facilities, including the cost of engineering, planning, designing, materials testing, coordination, construction staking, construction management and supervision for such Facilities, and to finance the incidental expenses to be incurred, including:
a. The cost of engineering, planning and designing the Facilities; b. All costs, including costs of the property owner petitioning to form the District, associated with the creation of the District, the issuance of the bonds, the determination of the amount of special taxes to be levied and costs otherwise incurred in order to carry out the authorized purposes of the District; and
c. Any other expenses incidental to the construction, acquisition, modification, rehabilitation, completion and inspection of the Facilities.

Capitalized terms used and not defined herein shall have the meaning set forth in the applicable Rate and Method of Apportionment of Special Taxes for the District.

Item Title: 11.4
Ordinance Introduction and Formation of Community Facilities District No. 2024-2, Golden Meadows by Golden Meadowland, LLC and Golden Hill Country, LLC
Item Page Number: 9
Menifee Mayor and City Council August 7, 2024 Page 1157 of 1560 B-1
4890-4670-2029v3/200299-0025

EXHIBIT B

BALLOT PROPOSITIONS
COMMUNITY FACILITIES DISTRICT NO. 2024-2 (GOLDEN MEADOWS)

OF THE CITY OF MENIFEE
IMPROVEMENT AREA NO. 1

SPECIAL TAX AND SPECIAL BOND ELECTION
August 7, 2024
PROPOSITION A: Shall Community Facilities District
No. 2024-2 (Golden Meadows) of the City of Menifee
(the “District”) incur an indebtedness and issue bonds in the maximum principal amount of $7,000,000 for
Improvement Area No. 1 therein (the “Improvement
Area”) with interest at a rate or rates not to exceed the maximum interest rate permitted by law, to finance the
Facilities and the Incidental Expenses described in
Resolution No. 24-1449 of the City Council of the City of Menifee?
PROPOSITION B: Shall a special tax with a rate and
method of apportionment for the Improvement Area as
provided in Resolution No. 24-1449 of the City Council of the City of Menifee be levied to pay for the Facilities, Incidental Expenses and other purposes described in
Resolution No. 24-1449, including the payment of the
principal of and interest on bonds issued by the District for the Improvement Area to finance the Facilities and
Incidental Expenses?
YES______
NO_______
YES______
NO_______
PROPOSITION C: For each year commencing with
Fiscal Year 2024-2025, shall the appropriations limit, as defined by subdivision (h) of Section 8 of Article XIII B of the California Constitution, for Community Facilities
District No. 2024-2 be an amount equal to $10,000,000?
YES______
NO_______
Item Title: 11.4
Ordinance Introduction and Formation of Community Facilities District No. 2024-2, Golden Meadows by Golden Meadowland, LLC and Golden Hill Country, LLC
Item Page Number: 10
Menifee Mayor and City Council August 7, 2024 Page 1158 of 1560 C-1
4890-4670-2029v3/200299-0025

EXHIBIT C

BALLOT PROPOSITIONS
COMMUNITY FACILITIES DISTRICT NO. 2024-2 (GOLDEN MEADOWS)

OF THE CITY OF MENIFEE
IMPROVEMENT AREA NO. 2

SPECIAL TAX AND SPECIAL BOND ELECTION
August 7, 2024
PROPOSITION D: Shall Community Facilities District
No. 2024-2 (Golden Meadows) of the City of Menifee
(the “District”) incur an indebtedness and issue bonds in the maximum principal amount of $7,000,000 for
Improvement Area No. 2 therein (the “Improvement
Area”) with interest at a rate or rates not to exceed the maximum interest rate permitted by law, to finance the
Facilities and the Incidental Expenses described in
Resolution No. 24-1449 of the City Council of the City of Menifee?
PROPOSITION E: Shall a special tax with a rate and
method of apportionment for the Improvement Area as
provided in Resolution No. 24-1449 of the City Council of the City of Menifee be levied to pay for the Facilities, Incidental Expenses and other purposes described in
Resolution No. 24-1449, including the payment of the
principal of and interest on bonds issued by the District for the Improvement Area to finance the Facilities and
Incidental Expenses?
YES______
NO_______
YES______
NO_______
PROPOSITION F: For each year commencing with
Fiscal Year 2024-2025, shall the appropriations limit, as defined by subdivision (h) of Section 8 of Article XIII B of the California Constitution, for Community Facilities
District No. 2024-2 be an amount equal to $10,000,000?
YES______
NO_______
Item Title: 11.4
Ordinance Introduction and Formation of Community Facilities District No. 2024-2, Golden Meadows by Golden Meadowland, LLC and Golden Hill Country, LLC
Item Page Number: 11
Menifee Mayor and City Council August 7, 2024 Page 1159 of 1560 D-1
4890-4670-2029v3/200299-0025

EXHIBIT D

BALLOT PROPOSITIONS
COMMUNITY FACILITIES DISTRICT NO. 2024-2 (GOLDEN MEADOWS)

OF THE CITY OF MENIFEE
IMPROVEMENT AREA NO. 3

SPECIAL TAX AND SPECIAL BOND ELECTION
August 7, 2024
PROPOSITION G: Shall Community Facilities District
No. 2024-2 (Golden Meadows) of the City of Menifee
(the “District”) incur an indebtedness and issue bonds in the maximum principal amount of $7,000,000 for
Improvement Area No. 3 therein (the “Improvement
Area”) with interest at a rate or rates not to exceed the maximum interest rate permitted by law, to finance the
Facilities and the Incidental Expenses described in
Resolution No. 24-1449 of the City Council of the City of Menifee?
PROPOSITION H: Shall a special tax with a rate and
method of apportionment for the Improvement Area as
provided in Resolution No. 24-1449 of the City Council of the City of Menifee be levied to pay for the Facilities, Incidental Expenses and other purposes described in
Resolution No. 24-1449, including the payment of the
principal of and interest on bonds issued by the District for the Improvement Area to finance the Facilities and
Incidental Expenses?
YES______
NO_______
YES______
NO_______
PROPOSITION I: For each year commencing with
Fiscal Year 2024-2025, shall the appropriations limit, as defined by subdivision (h) of Section 8 of Article XIII B of the California Constitution, for Community Facilities
District No. 2024-2 be an amount equal to $10,000,000?
YES______
NO_______
Item Title: 11.4
Ordinance Introduction and Formation of Community Facilities District No. 2024-2, Golden Meadows by Golden Meadowland, LLC and Golden Hill Country, LLC
Item Page Number: 12
Menifee Mayor and City Council August 7, 2024 Page 1160 of 1560 E-1
4890-4670-2029v3/200299-0025

EXHIBIT E

BALLOT PROPOSITIONS
COMMUNITY FACILITIES DISTRICT NO. 2024-2 (GOLDEN MEADOWS)

OF THE CITY OF MENIFEE
IMPROVEMENT AREA NO. 4

SPECIAL TAX AND SPECIAL BOND ELECTION
August 7, 2024
PROPOSITION J: Shall Community Facilities District
No. 2024-2 (Golden Meadows) of the City of Menifee
(the “District”) incur an indebtedness and issue bonds in the maximum principal amount of $13,000,000 for
Improvement Area No. 4 therein (the “Improvement
Area”) with interest at a rate or rates not to exceed the maximum interest rate permitted by law, to finance the
Facilities and the Incidental Expenses described in
Resolution No. 24-1449 of the City Council of the City of Menifee?
PROPOSITION K: Shall a special tax with a rate and
method of apportionment for the Improvement Area as
provided in Resolution No. 24-1449 of the City Council of the City of Menifee be levied to pay for the Facilities, Incidental Expenses and other purposes described in
Resolution No. 24-1449, including the payment of the
principal of and interest on bonds issued by the District for the Improvement Area to finance the Facilities and
Incidental Expenses?
YES______
NO_______
YES______
NO_______
PROPOSITION L: For each year commencing with
Fiscal Year 2024-2025, shall the appropriations limit, as defined by subdivision (h) of Section 8 of Article XIII B of the California Constitution, for Community Facilities
District No. 2024-2 be an amount equal to $10,000,000?
YES______
NO_______
Item Title: 11.4
Ordinance Introduction and Formation of Community Facilities District No. 2024-2, Golden Meadows by Golden Meadowland, LLC and Golden Hill Country, LLC
Item Page Number: 13
Menifee Mayor and City Council August 7, 2024 Page 1161 of 1560 4859-4907-7453v3/200299-0025
RESOLUTION NO. 24- ___

RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MENIFEE ACTING AS THE LEGISLATIVE BODY OF COMMUNITY FACILITIES DISTRICT NO. 2024-2 (GOLDEN

MEADOWS) OF THE CITY OF MENIFEE DETERMINING THE NECESSITY TO INCUR BONDED INDEBTEDNESS WITHIN IMPROVEMENT AREA NOS. 1 THROUGH 4 OF COMMUNITY FACILITIES DISTRICT NO. 2024-2 (GOLDEN MEADOWS) OF THE CITY OF MENIFEE IN AN AMOUNT NOT TO EXCEED $7,000,000 WITHIN IMPROVEMENT AREA NO. 1, $7,000,000 WITHIN IMPROVEMENT AREA NO. 2, $7,000,000 WITHIN IMPROVEMENT AREA NO. 3 AND $13,000,000 WITHIN IMPROVEMENT AREA NO. 4, AND CALLING ELECTIONS THEREIN
WHEREAS, on June 19, 2024, the City Council of the City of Menifee (the “City Council”) adopted Resolution No. 24-1449 stating its intention to form Community Facilities District No. 2024-2 (Golden Meadows) of the City of Menifee (“Community Facilities District No. 2024-2” or the “District”) pursuant to the Mello-Roos Community Facilities Act of 1982, as amended (the “Act”) and to form four improvement areas within proposed Community Facilities District No. 2024-2 to be known as “Improvement Area No. 1 of Community Facilities District No. 2024-2 (Golden Meadows) of the City of Menifee (“Improvement Area No. 1”), “Improvement Area No. 2 of Community Facilities District No. 2024-2 (Golden Meadows) of the City of Menifee (“Improvement Area No. 2”), “Improvement Area No. 3 of Community Facilities District No. 2024-2 (Golden Meadows) of the City of Menifee (“Improvement Area No. 3”), and “Improvement Area No. 4 of Community Facilities District No. 2024-2 (Golden Meadows) of the City of Menifee” (“Improvement Area No. 4” and together with Improvement Area No. 1, Improvement Area No. 2 and Improvement Area No. 3, the “Improvement Areas” and each individually an “Improvement Area”); and
WHEREAS, on June 19, 2024, the City Council also adopted Resolution No. 24-1450 stating its intention to incur bonded indebtedness in the amount of up to $7,000,000 within proposed Improvement Area No. 1, $7,000,000 within proposed Improvement Area No. 2, $7,000,000 within proposed Improvement Area No. 3 and $13,000,000 within proposed Improvement Area No. 4 to finance (1) the purchase, construction, modification, expansion, improvement and/or rehabilitation of public facilities identified in Exhibit B to Resolution No. 24-1449, and (2) the incidental expenses to be incurred in financing such public facilities and services and forming and administering the District, as identified in Exhibit B to Resolution No. 24-1449; and
WHEREAS, notice was published as required by law relative to the intention of the City Council to form proposed Community Facilities District No. 2024-2, to designate the Improvement Areas and to incur bonded indebtedness in the amount of up to $7,000,000 within the boundaries of proposed Improvement Area No. 1, $7,000,000 within the boundaries of proposed Improvement Area No. 2, $7,000,000 within the boundaries of proposed Improvement Area No. 3 and $13,000,000 within the boundaries of proposed Improvement Area No. 4; and
WHEREAS, on August 7, 2024, this City Council conducted a noticed public hearing to determine whether it should proceed with the formation of Community Facilities District No. 2024-2 and the designation of the Improvement Areas, issue bonds within the Improvement Areas to pay for the facilities and incidental expenses described in Resolution No. 24-1449 and authorize a rate and method of apportionment of a special tax for each of the Improvement Areas to be levied within such Improvement Areas for the purposes described in Resolution No. 24-1449; and WHEREAS, at said hearing all persons desiring to be heard on all matters pertaining to the formation of Community Facilities District No. 2024-2, the designation of the Improvement Areas, the levy of a special tax and the issuance of bonds with respect to each Improvement Area to pay for the cost of the proposed facilities and incidental expenses were heard and a full and fair hearing was held; and
Item Title: 11.4
Ordinance Introduction and Formation of Community Facilities District No. 2024-2, Golden Meadows by Golden Meadowland, LLC and Golden Hill Country, LLC
Item Page Number: 1
Menifee Mayor and City Council August 7, 2024 Page 1162 of 1560 Resolution Determining Necessity to Incur Debt for CFD No. 2024-2 (Golden Meadows) 2 4859-4907-7453v3/200299-0025
WHEREAS, the City Council subsequent to such hearing adopted Resolution No. 24-___ establishing Community Facilities District No. 2024-2 (the “Resolution of Formation”), designating the Improvement Areas and authorizing the financing of the public facilities (the “Facilities”) and the incidental expenses (the “Incidental Expenses”) described in Exhibit A thereto; and WHEREAS, the City Council desires to make the necessary findings to incur bonded indebtedness within each of the Improvement Areas, to declare the purpose for said debt, and to authorize the submittal of a proposition to issue bonded indebtedness to the voters of each of the Improvement Areas, being the landowners therein, all as authorized and required by law; NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Menifee, California, hereby finds, determines and orders as follows:

Section 1. It is necessary to incur bonded indebtedness in one or more series in a maximum aggregate principal amount not to exceed $7,000,000 within Improvement Area No. 1, $7,000,000 within Improvement Area No. 2, $7,000,000 within Improvement Area No. 3 and $13,000,000 within Improvement Area No. 4.

Section 2. The indebtedness is to be incurred for the purpose of financing the costs of purchasing, constructing, modifying, expanding, improving, and/or rehabilitating the Facilities and financing the Incidental Expenses, as described in the Resolution of Formation, and carrying out the powers and purposes of Community Facilities District No. 2024-2, including, but not limited to, financing the costs of selling the bonds, establishing and replenishing bond reserve funds and paying remarketing, credit enhancement and liquidity facility fees and other expenses of the type authorized by Section 53345.3 of the Act.

Section 3. The whole of the property within Improvement Area No. 1, other than property exempted from the special tax pursuant to the provisions of the rate and method of apportionment attached to Resolution No. 24-1449 as Exhibit C, shall pay for the bonded indebtedness issued by the District for Improvement Area No. 1 pursuant to the levy of the special tax for Improvement Area No. 1 authorized by the Resolution of Formation.

The whole of the property within Improvement Area No. 2, other than property exempted from the special tax pursuant to the provisions of the rate and method of apportionment attached to Resolution No. 24-1449 as Exhibit D, shall pay for the bonded indebtedness issued by the District for Improvement Area No. 2 pursuant to the levy of the special tax for Improvement Area No. 2 authorized by the Resolution of Formation.

The whole of the property within Improvement Area No. 3, other than property exempted from the special tax pursuant to the provisions of the rate and method of apportionment attached to Resolution No. 24-1449 as Exhibit E, shall pay for the bonded indebtedness issued by the District for Improvement Area No. 3 pursuant to the levy of the special tax for Improvement Area No. 3 authorized by the Resolution of Formation.

The whole of the property within Improvement Area No. 4, other than property exempted from the special tax pursuant to the provisions of the rate and method of apportionment attached to Resolution No. 24-1449 as Exhibit F, shall pay for the bonded indebtedness issued by the District for Improvement Area No. 4 pursuant to the levy of the special tax for Improvement Area No. 4 authorized by the Resolution of Formation.

Section 4. The maximum term of any series of bonds to be issued to finance Facilities shall in no event exceed thirty-five (35) years from the date of issuance of the bonds, or such longer Item Title: 11.4
Ordinance Introduction and Formation of Community Facilities District No. 2024-2, Golden Meadows by Golden Meadowland, LLC and Golden Hill Country, LLC
Item Page Number: 2
Menifee Mayor and City Council August 7, 2024 Page 1163 of 1560 Resolution Determining Necessity to Incur Debt for CFD No. 2024-2 (Golden Meadows) 3 4859-4907-7453v3/200299-0025
term as is then permitted by law.

Section 5. The bonds shall bear interest at the rate or rates not to exceed the maximum interest rate permitted by law, payable annually or semiannually, or in part annually and in part semiannually, except the first interest payment may be for a period of less than six months, with the actual rate or rates and times of payment to be determined at the time or times of sale thereof.

Section 6. The bonds may bear a variable or fixed interest rate, provided that such variable rate or fixed rate shall not exceed the maximum rate permitted by Section 53531 of the Act, or any other applicable provision of law limiting the maximum interest rate on the bonds.

Section 7. Pursuant to Section 53351 of the Act, a special election is hereby called for Improvement Area No. 1 on the proposition of incurring the bonded indebtedness. The proposition relative to incurring bonded indebtedness in the maximum aggregate principal amount of $7,000,000 shall be in the form of Proposition A set forth in Exhibit A hereto. In accordance with Sections 53351(h) and 53353.5 of the Act, the election shall be consolidated with the special election called on the proposition of levying a special tax within Improvement Area No. 1 as described in the Resolution of Formation, which proposition shall be in the form of Proposition B set forth in Exhibit A, and on the proposition of establishing an appropriations limit for the District, which proposition shall be in the form of Proposition C set forth in Exhibit A.

Pursuant to Section 53351 of the Act, a special election is hereby called for Improvement Area No. 2 on the proposition of incurring the bonded indebtedness therein. The proposition relative to incurring bonded indebtedness in the maximum aggregate principal amount of $7,000,000 shall be in the form of Proposition D set forth in Exhibit B hereto. In accordance with Section 53351(h) and 53353.5 of the Act, the election shall be consolidated with the special election called on the proposition of levying a special tax within Improvement Area No. 2 as described in the Resolution of Formation, which proposition shall be in the form of Proposition E set forth in Exhibit B, and on the proposition of establishing an appropriations limit for the District, which proposition shall be in the form of Proposition F set forth in Exhibit B.

Pursuant to Section 53351 of the Act, a special election is hereby called for Improvement Area No. 3 on the proposition of incurring the bonded indebtedness therein. The proposition relative to incurring bonded indebtedness in the maximum aggregate principal amount of $7,000,000 shall be in the form of Proposition G set forth in Exhibit C hereto. In accordance with Section 53351(h) and 53353.5 of the Act, the election shall be consolidated with the special election called on the proposition of levying a special tax within Improvement Area No. 3 as described in the Resolution of Formation, which proposition shall be in the form of Proposition H set forth in Exhibit C, and on the proposition of establishing an appropriations limit for the District, which proposition shall be in the form of Proposition I set forth in Exhibit C.

Pursuant to Section 53351 of the Act, a special election is hereby called for Improvement Area No. 4 on the proposition of incurring the bonded indebtedness therein. The proposition relative to incurring bonded indebtedness in the maximum aggregate principal amount of $13,000,000 shall be in the form of Proposition J set forth in Exhibit D hereto. In accordance with Section 53351(h) and 53353.5 of the Act, the election shall be consolidated with the special election called on the proposition of levying a special tax within Improvement Area No. 4 as described in the Resolution of Formation, which proposition shall be in the form of Proposition K set forth in Exhibit D, Item Title: 11.4
Ordinance Introduction and Formation of Community Facilities District No. 2024-2, Golden Meadows by Golden Meadowland, LLC and Golden Hill Country, LLC
Item Page Number: 3
Menifee Mayor and City Council August 7, 2024 Page 1164 of 1560 Resolution Determining Necessity to Incur Debt for CFD No. 2024-2 (Golden Meadows) 4 4859-4907-7453v3/200299-0025
and on the proposition of establishing an appropriations limit for the District, which proposition shall be in the form of Proposition L set forth in Exhibit D.

Section 8. The date of the special elections for the Improvement Areas on the propositions of incurring the bonded indebtedness, authorizing the levy of the special tax and setting an appropriations limit shall be August 7, 2024, or such later date as is consented to by the City Clerk, or any Acting City Clerk of the City (referred to herein as the “City Clerk”); provided that, if the election for an Improvement Area is to take place sooner than 90 days after August 7, 2024, then the unanimous written consent of each qualified elector within such Improvement Area to such election date must be obtained. The polls shall be open for said election immediately following the public hearing on August 7, 2024.

The election shall be conducted by the City Clerk. Except as otherwise provided by the Act, the election shall be conducted in accordance with the provisions of law regulating elections of the City of Menifee insofar as such provisions are determined by the City Clerk to be applicable. The City Clerk is authorized to conduct the election following the adoption of the Resolution of Formation, and this resolution and all ballots shall be received by and the City Clerk shall close the election by 11:00 p.m. on the election day; provided the election shall be closed at such earlier time as all qualified electors have voted as provided in Section 53326(d) of the Act. Pursuant to Section 53326 of the Act, the ballots for the special elections shall be distributed in person, or by mail with return postage prepaid, to the qualified electors within each of the Improvement Areas. The City Clerk has secured a certificate of the Registrar of Voters of the County of Riverside certifying that there were no registered voters within the District as of June 12, 2024.

Accordingly, since there were fewer than 12 registered voters within the District for each of the 90 days preceding August 7, 2024, the qualified electors shall be the landowners within each of the Improvement Areas and each landowner, or the authorized representative thereof, shall have one vote for each acre or portion thereof that such landowner owns within the respective Improvement Areas, as provided in Section 53326 of the Act. The landowners within each Improvement Area have each executed and delivered a waiver of certain election law requirements and consenting to the holding of the election therein on August 7, 2024, which waiver is on file with the City Clerk.

Section 9. This Resolution shall be effective upon its adoption. {SIGNATURES ON FOLLOWING PAGE}
Item Title: 11.4
Ordinance Introduction and Formation of Community Facilities District No. 2024-2, Golden Meadows by Golden Meadowland, LLC and Golden Hill Country, LLC
Item Page Number: 4
Menifee Mayor and City Council August 7, 2024 Page 1165 of 1560 Resolution Determining Necessity to Incur Debt for CFD No. 2024-2 (Golden Meadows) 5 4859-4907-7453v3/200299-0025
PASSED, APPROVED AND ADOPTED this the 7th day of August, 2024. ___________________________
Bill Zimmerman, Mayor
Attest:
___________________________
Stephanie Roseen, Acting City Clerk
Approved as to form:
___________________________
Jeffrey T. Melching, City Attorney
Item Title: 11.4
Ordinance Introduction and Formation of Community Facilities District No. 2024-2, Golden Meadows by Golden Meadowland, LLC and Golden Hill Country, LLC
Item Page Number: 5
Menifee Mayor and City Council August 7, 2024 Page 1166 of 1560 A-1
4859-4907-7453v3/200299-0025

EXHIBIT A

BALLOT PROPOSITIONS
COMMUNITY FACILITIES DISTRICT NO. 2024-2 (GOLDEN MEADOWS)

OF THE CITY OF MENIFEE
IMPROVEMENT AREA NO. 1

SPECIAL TAX AND SPECIAL BOND ELECTION
August 7, 2024
PROPOSITION A: Shall Community Facilities District
No. 2024-2 (Golden Meadows) of the City of Menifee
(the “District”) incur an indebtedness and issue bonds in the maximum principal amount of $7,000,000 for
Improvement Area No. 1 therein (the “Improvement
Area”) with interest at a rate or rates not to exceed the maximum interest rate permitted by law, to finance the
Facilities and the Incidental Expenses described in
Resolution No. 24-1449 of the City Council of the City of Menifee?
PROPOSITION B: Shall a special tax with a rate and
method of apportionment for the Improvement Area as
provided in Resolution No. 24-1449 of the City Council of the City of Menifee be levied to pay for the Facilities, Incidental Expenses and other purposes described in
Resolution No. 24-1449, including the payment of the
principal of and interest on bonds issued by the District for the Improvement Area to finance the Facilities and
Incidental Expenses?
YES______
NO_______
YES______
NO_______
PROPOSITION C: For each year commencing with
Fiscal Year 2024-2025, shall the appropriations limit, as defined by subdivision (h) of Section 8 of Article XIII B of the California Constitution, for Community Facilities
District No. 2024-2 be an amount equal to $10,000,000?
YES______
NO_______
Item Title: 11.4
Ordinance Introduction and Formation of Community Facilities District No. 2024-2, Golden Meadows by Golden Meadowland, LLC and Golden Hill Country, LLC
Item Page Number: 6
Menifee Mayor and City Council August 7, 2024 Page 1167 of 1560 B-1
4859-4907-7453v3/200299-0025

EXHIBIT B

BALLOT PROPOSITIONS
COMMUNITY FACILITIES DISTRICT NO. 2024-2 (GOLDEN MEADOWS)

OF THE CITY OF MENIFEE
IMPROVEMENT AREA NO. 2

SPECIAL TAX AND SPECIAL BOND ELECTION
August 7, 2024
PROPOSITION D: Shall Community Facilities District
No. 2024-2 (Golden Meadows) of the City of Menifee
(the “District”) incur an indebtedness and issue bonds in the maximum principal amount of $7,000,000 for
Improvement Area No. 2 therein (the “Improvement
Area”) with interest at a rate or rates not to exceed the maximum interest rate permitted by law, to finance the
Facilities and the Incidental Expenses described in
Resolution No. 24-1449 of the City Council of the City of Menifee?
PROPOSITION E: Shall a special tax with a rate and
method of apportionment for the Improvement Area as
provided in Resolution No. 24-1449 of the City Council of the City of Menifee be levied to pay for the Facilities, Incidental Expenses and other purposes described in
Resolution No. 24-1449, including the payment of the
principal of and interest on bonds issued by the District for the Improvement Area to finance the Facilities and
Incidental Expenses?
YES______
NO_______
YES______
NO_______
PROPOSITION F: For each year commencing with
Fiscal Year 2024-2025, shall the appropriations limit, as defined by subdivision (h) of Section 8 of Article XIII B of the California Constitution, for Community Facilities
District No. 2024-2 be an amount equal to $10,000,000?
YES______
NO_______
Item Title: 11.4
Ordinance Introduction and Formation of Community Facilities District No. 2024-2, Golden Meadows by Golden Meadowland, LLC and Golden Hill Country, LLC
Item Page Number: 7
Menifee Mayor and City Council August 7, 2024 Page 1168 of 1560 C-1
4859-4907-7453v3/200299-0025

EXHIBIT C

BALLOT PROPOSITIONS
COMMUNITY FACILITIES DISTRICT NO. 2024-2 (GOLDEN MEADOWS)

OF THE CITY OF MENIFEE
IMPROVEMENT AREA NO. 3

SPECIAL TAX AND SPECIAL BOND ELECTION
August 7, 2024
PROPOSITION G: Shall Community Facilities District
No. 2024-2 (Golden Meadows) of the City of Menifee
(the “District”) incur an indebtedness and issue bonds in the maximum principal amount of $7,000,000 for
Improvement Area No. 3 therein (the “Improvement
Area”) with interest at a rate or rates not to exceed the maximum interest rate permitted by law, to finance the
Facilities and the Incidental Expenses described in
Resolution No. 24-1449 of the City Council of the City of Menifee?
PROPOSITION H: Shall a special tax with a rate and
method of apportionment for the Improvement Area as
provided in Resolution No. 24-1449 of the City Council of the City of Menifee be levied to pay for the Facilities, Incidental Expenses and other purposes described in
Resolution No. 24-1449, including the payment of the
principal of and interest on bonds issued by the District for the Improvement Area to finance the Facilities and
Incidental Expenses?
YES______
NO_______
YES______
NO_______
PROPOSITION I: For each year commencing with
Fiscal Year 2024-2025, shall the appropriations limit, as defined by subdivision (h) of Section 8 of Article XIII B of the California Constitution, for Community Facilities
District No. 2024-2 be an amount equal to $10,000,000?
YES______
NO_______
Item Title: 11.4
Ordinance Introduction and Formation of Community Facilities District No. 2024-2, Golden Meadows by Golden Meadowland, LLC and Golden Hill Country, LLC
Item Page Number: 8
Menifee Mayor and City Council August 7, 2024 Page 1169 of 1560 D-1
4859-4907-7453v3/200299-0025

EXHIBIT D

BALLOT PROPOSITIONS
COMMUNITY FACILITIES DISTRICT NO. 2024-2 (GOLDEN MEADOWS)

OF THE CITY OF MENIFEE
IMPROVEMENT AREA NO. 4

SPECIAL TAX AND SPECIAL BOND ELECTION
August 7, 2024
PROPOSITION J: Shall Community Facilities District
No. 2024-2 (Golden Meadows) of the City of Menifee
(the “District”) incur an indebtedness and issue bonds in the maximum principal amount of $13,000,000 for
Improvement Area No. 4 therein (the “Improvement
Area”) with interest at a rate or rates not to exceed the maximum interest rate permitted by law, to finance the
Facilities and the Incidental Expenses described in
Resolution No. 24-1449 of the City Council of the City of Menifee?
PROPOSITION K: Shall a special tax with a rate and
method of apportionment for the Improvement Area as
provided in Resolution No. 24-1449 of the City Council of the City of Menifee be levied to pay for the Facilities, Incidental Expenses and other purposes described in
Resolution No. 24-1449, including the payment of the
principal of and interest on bonds issued by the District for the Improvement Area to finance the Facilities and
Incidental Expenses?
YES______
NO_______
YES______
NO_______
PROPOSITION L: For each year commencing with
Fiscal Year 2024-2025, shall the appropriations limit, as defined by subdivision (h) of Section 8 of Article XIII B of the California Constitution, for Community Facilities
District No. 2024-2 be an amount equal to $10,000,000?
YES______
NO_______
Item Title: 11.4
Ordinance Introduction and Formation of Community Facilities District No. 2024-2, Golden Meadows by Golden Meadowland, LLC and Golden Hill Country, LLC
Item Page Number: 9
Menifee Mayor and City Council August 7, 2024 Page 1170 of 1560 4894-7550-4333v3/200299-0025
RESOLUTION NO. 24-___

RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MENIFEE, CALIFORNIA

ACTING IN ITS CAPACITY AS THE LEGISLATIVE BODY OF COMMUNITY FACILITIES DISTRICT NO. 2024-2 (GOLDEN MEADOWS) OF THE CITY OF

MENIFEE CERTIFYING ELECTION RESULTS
WHEREAS, the City Council of the City of Menifee called and duly held elections on August 7, 2024. within the boundaries of Improvement Area No. 1 (“Improvement Area No. 1”), Improvement Area No. 2 (“Improvement Area No. 2”), Improvement Area No. 3 (“Improvement Area No. 3”) and Improvement Area No. 4 (“Improvement Area No. 4”) of Community Facilities District No. 2024-2 (Golden Meadows) of the City of Menifee (“Community Facilities District No. 2024-2” or the “District”) pursuant to Resolution Nos. 24-__ and 24-__ for the purpose of presenting to the qualified electors within Improvement Area No. 1, Propositions A, B and C, attached hereto as Exhibit A, to the qualified electors within Improvement Area No. 2, Propositions D, E and F, attached hereto as Exhibit B, to the qualified electors within Improvement Area No. 3, Propositions G, H and I, attached hereto as Exhibit C, and to the qualified electors within Improvement Area No. 4, Propositions J, K and L, attached hereto as Exhibit D; and
WHEREAS, there has been presented to this City Council a certificate of the City Clerk or Acting City Clerk (referred to herein as the “City Clerk”) canvassing the results of the elections within Improvement Area Nos. 1 through 4, a copy of which is attached hereto as Exhibit E; NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Menifee, California hereby finds, determines and orders as follows:

Section 1. Each of the above recitals is true and correct and is adopted by the legislative body of the District.

Section 2. Propositions A, B and C set forth in Exhibit A hereto presented to the qualified electors of Improvement Area No. 1 on August 7, 2024, were approved by more than two-thirds of the votes cast at said election and Propositions A, B and C each has carried. The City Council, acting as the legislative body of the District, is hereby authorized to levy on the land within Improvement Area No. 1 the special tax described in Proposition B set forth in Exhibit A hereto for the purposes described therein and to take the necessary steps to levy the special tax authorized by Proposition B and to issue bonds in an amount not to exceed $7,000,000 specified in Proposition A set forth in Exhibit A hereto.

Section 3. Propositions D, E and F set forth in Exhibit B hereto presented to the qualified electors of Improvement Area No. 2 on August 7, 2024, were approved by more than two-thirds of the votes cast at said election and Propositions D, E and F each has carried. The City Council, acting as the legislative body of the District, is hereby authorized to levy on the land within Improvement Area No. 2 the special tax described in Proposition E set forth in Exhibit B hereto for the purposes described therein and to take the necessary steps to levy the special tax authorized by Proposition E and to issue bonds in an amount not to exceed $7,000,000 specified in Proposition D set forth in Exhibit B hereto.

Section 4. Propositions G, H and I set forth in Exhibit C hereto presented to the qualified electors of Improvement Area No. 3 on August 7, 2024, were approved by more than two-thirds of the votes cast at said election and Propositions G, H and I each has carried. The City Council, acting as the legislative body of the District, is hereby authorized to levy on the land within Improvement Area No. 3 the special tax described in Proposition H set forth Item Title: 11.4
Ordinance Introduction and Formation of Community Facilities District No. 2024-2, Golden Meadows by Golden Meadowland, LLC and Golden Hill Country, LLC
Item Page Number: 1
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in Exhibit C hereto for the purposes described therein and to take the necessary steps to levy the special tax authorized by Proposition H and to issue bonds in an amount not to exceed $7,000,000 specified in Proposition G set forth in Exhibit C hereto.

Section 5. Propositions J, K and L set forth in Exhibit D hereto presented to the qualified electors of Improvement Area No. 4 on August 7, 2024, were approved by more than two-thirds of the votes cast at said election and Propositions J, K and L each has carried. The City Council, acting as the legislative body of the District, is hereby authorized to levy on the land within Improvement Area No. 4 the special tax described in Proposition K set forth in Exhibit D hereto for the purposes described therein and to take the necessary steps to levy the special tax authorized by Proposition K and to issue bonds in an amount not to exceed $13,000,000 specified in Proposition J set forth in Exhibit D hereto.

Section 6. The City Clerk is hereby directed to record in the Assessor-County Clerk-Recorder’s office of the County of Riverside within fifteen days of the date hereof a notice of special tax lien with respect to each Improvement Area, which Bond Counsel to the District shall prepare in the form required by Streets and Highways Code Section 3114.5.

Section 7. This Resolution shall be effective upon its adoption.

PASSED, APPROVED AND ADOPTED this the 7th day of August, 2024. ___________________________
Bill Zimmerman, Mayor
Attest:
___________________________
Stephanie Roseen, Acting City Clerk
Approved as to form:
___________________________
Jeffrey T. Melching, City Attorney
Item Title: 11.4
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EXHIBIT A

BALLOT PROPOSITIONS
COMMUNITY FACILITIES DISTRICT NO. 2024-2 (GOLDEN MEADOWS)

OF THE CITY OF MENIFEE
IMPROVEMENT AREA NO. 1

SPECIAL TAX AND SPECIAL BOND ELECTION
August 7, 2024
PROPOSITION A: Shall Community Facilities District
No. 2024-2 (Golden Meadows) of the City of Menifee
(the “District”) incur an indebtedness and issue bonds in the maximum principal amount of $7,000,000 for
Improvement Area No. 1 therein (the “Improvement
Area”) with interest at a rate or rates not to exceed the maximum interest rate permitted by law, to finance the
Facilities and the Incidental Expenses described in
Resolution No. 24-1449 of the City Council of the City of Menifee?
PROPOSITION B: Shall a special tax with a rate and
method of apportionment for the Improvement Area as
provided in Resolution No. 24-1449 of the City Council of the City of Menifee be levied to pay for the Facilities, Incidental Expenses and other purposes described in
Resolution No. 24-1449, including the payment of the
principal of and interest on bonds issued by the District for the Improvement Area to finance the Facilities and
Incidental Expenses?
YES______
NO_______
YES______
NO_______
PROPOSITION C: For each year commencing with
Fiscal Year 2024-2025, shall the appropriations limit, as defined by subdivision (h) of Section 8 of Article XIII B of the California Constitution, for Community Facilities
District No. 2024-2 be an amount equal to $10,000,000?
YES______
NO_______
Item Title: 11.4
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EXHIBIT B

BALLOT PROPOSITIONS
COMMUNITY FACILITIES DISTRICT NO. 2024-2 (GOLDEN MEADOWS)

OF THE CITY OF MENIFEE
IMPROVEMENT AREA NO. 2

SPECIAL TAX AND SPECIAL BOND ELECTION
August 7, 2024
PROPOSITION D: Shall Community Facilities District
No. 2024-2 (Golden Meadows) of the City of Menifee
(the “District”) incur an indebtedness and issue bonds in the maximum principal amount of $7,000,000 for
Improvement Area No. 2 therein (the “Improvement
Area”) with interest at a rate or rates not to exceed the maximum interest rate permitted by law, to finance the
Facilities and the Incidental Expenses described in
Resolution No. 24-1449 of the City Council of the City of Menifee?
PROPOSITION E: Shall a special tax with a rate and
method of apportionment for the Improvement Area as
provided in Resolution No. 24-1449 of the City Council of the City of Menifee be levied to pay for the Facilities, Incidental Expenses and other purposes described in
Resolution No. 24-1449, including the payment of the
principal of and interest on bonds issued by the District for the Improvement Area to finance the Facilities and
Incidental Expenses?
YES______
NO_______
YES______
NO_______
PROPOSITION F: For each year commencing with
Fiscal Year 2024-2025, shall the appropriations limit, as defined by subdivision (h) of Section 8 of Article XIII B of the California Constitution, for Community Facilities
District No. 2024-2 be an amount equal to $10,000,000?
YES______
NO_______
Item Title: 11.4
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EXHIBIT C

BALLOT PROPOSITIONS
COMMUNITY FACILITIES DISTRICT NO. 2024-2 (GOLDEN MEADOWS)

OF THE CITY OF MENIFEE
IMPROVEMENT AREA NO. 3

SPECIAL TAX AND SPECIAL BOND ELECTION
August 7, 2024
PROPOSITION G: Shall Community Facilities District
No. 2024-2 (Golden Meadows) of the City of Menifee
(the “District”) incur an indebtedness and issue bonds in the maximum principal amount of $7,000,000 for
Improvement Area No. 3 therein (the “Improvement
Area”) with interest at a rate or rates not to exceed the maximum interest rate permitted by law, to finance the
Facilities and the Incidental Expenses described in
Resolution No. 24-1449 of the City Council of the City of Menifee?
PROPOSITION H: Shall a special tax with a rate and
method of apportionment for the Improvement Area as
provided in Resolution No. 24-1449 of the City Council of the City of Menifee be levied to pay for the Facilities, Incidental Expenses and other purposes described in
Resolution No. 24-1449, including the payment of the
principal of and interest on bonds issued by the District for the Improvement Area to finance the Facilities and
Incidental Expenses?
YES______
NO_______
YES______
NO_______
PROPOSITION I: For each year commencing with
Fiscal Year 2024-2025, shall the appropriations limit, as defined by subdivision (h) of Section 8 of Article XIII B of the California Constitution, for Community Facilities
District No. 2024-2 be an amount equal to $10,000,000?
YES______
NO_______
Item Title: 11.4
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EXHIBIT D

BALLOT PROPOSITIONS
COMMUNITY FACILITIES DISTRICT NO. 2024-2 (GOLDEN MEADOWS)

OF THE CITY OF MENIFEE
IMPROVEMENT AREA NO. 4

SPECIAL TAX AND SPECIAL BOND ELECTION
August 7, 2024
PROPOSITION J: Shall Community Facilities District
No. 2024-2 (Golden Meadows) of the City of Menifee
(the “District”) incur an indebtedness and issue bonds in the maximum principal amount of $13,000,000 for
Improvement Area No. 4 therein (the “Improvement
Area”) with interest at a rate or rates not to exceed the maximum interest rate permitted by law, to finance the
Facilities and the Incidental Expenses described in
Resolution No. 24-1449 of the City Council of the City of Menifee?
PROPOSITION K: Shall a special tax with a rate and
method of apportionment for the Improvement Area as
provided in Resolution No. 24-1449 of the City Council of the City of Menifee be levied to pay for the Facilities, Incidental Expenses and other purposes described in
Resolution No. 24-1449, including the payment of the
principal of and interest on bonds issued by the District for the Improvement Area to finance the Facilities and
Incidental Expenses?
YES______
NO_______
YES______
NO_______
PROPOSITION L: For each year commencing with
Fiscal Year 2024-2025, shall the appropriations limit, as defined by subdivision (h) of Section 8 of Article XIII B of the California Constitution, for Community Facilities
District No. 2024-2 be an amount equal to $10,000,000?
YES______
NO_______
Item Title: 11.4
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EXHIBIT E

CERTIFICATE OF CITY CLERK

AS TO THE RESULTS OF THE CANVASS OF THE ELECTION RETURNS I, Stephanie Roseen, Acting City Clerk of the City of Menifee, do hereby certify that I have examined the returns of the Special Tax and Bond Election for Improvement Area No. 1 of Community Facilities District No. 2024-2 (Golden Meadows) of the City of Menifee (the “City”).

The election was held in the City Council Chambers, 29844 Haun Road, Menifee, California, on August 7, 2024. I caused to be delivered ballots to each qualified elector. ___ (_) ballots were returned.

I further certify that the results of said election and the number of votes cast for and against Propositions A, B and C for Improvement Area No. 1 are as follows:

PROPOSITION A PROPOSITION B PROPOSITION C
YES: YES: YES:

NO: NO: NO:

TOTAL: TOTAL: TOTAL:

I further certify that I have examined the returns of the Special Tax and Bond Election for Improvement Area No. 2 of Community Facilities District No. 2024-2 (Golden Meadows) of the City. The election was held in the City Council Chambers, 29844 Haun Road, Menifee, California, on August 7, 2024. I caused to be delivered ballots to each qualified elector. ___ (_) ballots were returned.

I further certify that the results of said election and the number of votes cast for and against Propositions D, E and F for Improvement Area No. 2 are as follows:

PROPOSITION D PROPOSITION E PROPOSITION F
YES: YES: YES:

NO: NO: NO:

TOTAL: TOTAL: TOTAL:

I further certify that I have examined the returns of the Special Tax and Bond Election for Improvement Area No. 3 of Community Facilities District No. 2024-2 (Golden Meadows) of the City. The election was held in the City Council Chambers, 29844 Haun Road, Menifee, California, on August 7, 2024. I caused to be delivered ballots to each qualified elector. ___ (_) ballots were returned.

Item Title: 11.4
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I further certify that the results of said election and the number of votes cast for and against Propositions G, H and I for Improvement Area No. 3 are as follows:

PROPOSITION G PROPOSITION H PROPOSITION I
YES: YES: YES:

NO: NO: NO:

TOTAL: TOTAL: TOTAL:

I further certify that I have examined the returns of the Special Tax and Bond Election for Improvement Area No. 4 of Community Facilities District No. 2024-2 (Golden Meadows) of the City. The election was held in the City Council Chambers, 29844 Haun Road, Menifee, California, on August 7, 2024. I caused to be delivered ballots to each qualified elector. ___ (_) ballots were returned.

I further certify that the results of said election and the number of votes cast for and against Propositions J, K and L for Improvement Area No. 4 are as follows:

PROPOSITION J PROPOSITION K PROPOSITION L
YES: YES: YES:

NO: NO: NO:

TOTAL: TOTAL: TOTAL:

Dated this 7th day of August, 2024.

Stephanie Roseen
Acting City Clerk
City of Menifee
Item Title: 11.4
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ORDINANCE NO. 24-___

ORDINANCE OF THE CITY COUNCIL OF THE CITY OF MENIFEE, CALIFORNIA

ACTING IN ITS CAPACITY AS THE LEGISLATIVE BODY OF COMMUNITY FACILITIES DISTRICT NO. 2024-2, GOLDEN MEADOWS, OF THE CITY OF

MENIFEE AUTHORIZING THE LEVY OF SPECIAL TAXES WITHIN IMPROVEMENT AREA NOS. 1 THROUGH 4 THEREIN
WHEREAS, on June 19, 2024, the City Council (the “City Council”) of the City of Menifee (the “City”) adopted Resolution No. 24-1449 declaring its intention to form Community Facilities District No. 2024-2, Golden Meadows, of the City of Menifee (the “District”) and Improvement Area No. 1 (“Improvement Area No. 1”), Improvement Area No. 2 (“Improvement Area No. 2”), Improvement Area No. 3 (“Improvement Area No. 3”) and Improvement Area No. 4 (“Improvement Area No. 4” and together with Improvement Area No. 1, Improvement Area No. 2 and Improvement Area No. 3 the “Improvement Areas” and each an “Improvement Area”) therein 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 (the “Act”), and its Resolution No. 24-1450 declaring its intention to incur bonded indebtedness for each Improvement Area; and WHEREAS, on August 7, 2024, after providing all notice required by the Act, the City Council conducted a noticed public hearing required by the Act relative to the proposed formation of the District, the designation of the Improvement Areas, the proposed levy of a special tax therein to finance certain public facilities described in Resolution No. 24-1449 and to secure the payment of any bonded indebtedness of the District for the Improvement Areas, and the proposed issuance of up to $7,000,000 of bonded indebtedness for Improvement Area No. 1, $7,000,000 of bonded indebtedness for Improvement Area No. 2, $7,000,000 of bonded indebtedness for Improvement Area No. 3 and $13,000,000 of bonded indebtedness for Improvement Area No. 4, as described in Resolution No. 24- 1450; and
WHEREAS, at the August 7, 2024, public hearing, all persons desiring to be heard on all matters pertaining to the formation of the District, the designation of the Improvement Areas and the proposed levy of the special tax to finance the facilities described in Resolution No. 24-1449 and to secure the payment of up to $7,000,000 of bonded indebtedness for Improvement Area No. 1, $7,000,000 of bonded indebtedness for Improvement Area No. 2, $7,000,000 of bonded indebtedness for Improvement Area No. 3 and $13,000,000 of bonded indebtedness for Improvement Area No. 4 as described in Resolution No. 24-1450 (together, the “Bonds”) were heard and a full and fair hearing was held; and
WHEREAS, on August 7, 2024, the City Council adopted Resolution Nos. 24-___ and 24-___ which formed the District, designated the Improvement Areas and called a special election within each Improvement Area on August 7, 2024, in each case on three propositions relating to the levy of a special tax within each Improvement Area, the issuance of the Bonds by the District for each Improvement Area and the establishment of an appropriations limit within the District; and WHEREAS, on August 7, 2024, a special election was held within Improvement Area No. 1 at which the qualified electors therein approved by more than a two-thirds vote Propositions A, B and C set forth in Exhibit B to Resolution No. 24-___ authorizing the levy of a special tax within Improvement Area No. 1 for the purposes described in Resolution No. 24-__, the issuance of the Bonds for Improvement Area No. 1 as described in Resolution No. 24-__ and establishing an appropriations limit for the District; and
WHEREAS, on August 7, 2024, a special election was held within Improvement Area No. 2 at which the qualified electors therein approved by more than a two-thirds vote Propositions D, E and F set forth in Exhibit C to Resolution No. 24-___ authorizing the levy of a special tax within Improvement Item Title: 11.4
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Area No. 2 for the purposes described in Resolution No. 24-__, the issuance of the Bonds for Improvement Area No. 2 as described in Resolution No. 24-__ and establishing an appropriations limit for the District; and
WHEREAS, on August 7, 2024, a special election was held within Improvement Area No. 3 at which the qualified electors therein approved by more than a two-thirds vote Propositions G, H and I set forth in Exhibit D to Resolution No. 24-___ authorizing the levy of a special tax within Improvement Area No. 3 for the purposes described in Resolution No. 24-__, the issuance of the Bonds for Improvement Area No. 3 as described in Resolution No. 24-__ and establishing an appropriations limit for the District; and
WHEREAS, on August 7, 2024, a special election was held within Improvement Area No. 4 at which the qualified electors therein approved by more than a two-thirds vote Propositions J, K and L set forth in Exhibit E to Resolution No. 24-___ authorizing the levy of a special tax within Improvement Area No. 4 for the purposes described in Resolution No. 24-__, the issuance of the Bonds for Improvement Area No. 4 as described in Resolution No. 24-__ and establishing an appropriations limit for the District; and
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Menifee, California does ordain as follows:

Section 1. The above recitals are all true and correct.

Section 2. By the passage of this Ordinance, the City Council authorizes and levies special taxes within each Improvement Area pursuant to Sections 53328 and 53340 of the Act at the rates and in accordance with the rate and method of apportionment set forth in Exhibit C to Resolution No. 24- 1449 as to Improvement Area No. 1, the rate and method of apportionment set forth in Exhibit D to Resolution No. 24-1449 as to Improvement Area No. 2, the rate and method of apportionment set forth in Exhibit E to Resolution No. 24-1449 as to Improvement Area No. 3 and the rate and method of apportionment set forth in Exhibit F to Resolution No. 24-1449 as to Improvement Area No. 4, which are incorporated by reference herein (each a “Rate and Method”). The special taxes are hereby levied commencing in the fiscal year specified in the Rate and Method for such Improvement Area and in each fiscal year thereafter until payment in full of the Bonds issued by the District for such Improvement Area (including any bonds issued to refund the Bonds), payment of all costs of the public facilities and services authorized to be financed by the District for such Improvement Area, and payment of all costs of administering the District allocable to such Improvement Area.

Section 3. Each of the Mayor, the City Manager, the Chief Financial Officer, or their written designees (each, an “Authorized Officer”), acting alone, is hereby authorized and directed each fiscal year to determine the specific special tax rates and amounts to be levied in such fiscal year on each parcel of real property within Improvement Area No. 1, Improvement Area No. 2, Improvement Area No. 3 and Improvement Area No. 4 in the manner and as provided in the Rate and Method applicable to each Improvement Area. The special tax rate levied on a parcel pursuant to each Rate and Method shall not exceed the maximum rate set forth in the Rate and Method for such parcel, but the special tax may be levied at a lower rate. Each Authorized Officer is hereby authorized and directed to provide all necessary information to the Treasurer-Tax Collector of the County of Riverside and to otherwise take all actions necessary in order to effect proper billing and collection of the special tax within each Improvement Area, so that the special tax shall be levied and collected in sufficient amounts and at times necessary to satisfy the financial obligations of the District for such Improvement Area in each fiscal year, and with respect to Special Tax, until the Bonds issued by the District for such Improvement Area are paid in full, the facilities financed for such Improvement Area have been paid for, and provision has been made for payment of all of the administrative costs of the District.

Item Title: 11.4
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Section 4. Properties or entities of the state, federal or other local governments shall be exempt from the special tax for each Improvement Area, except as otherwise provided in Sections 53317.3 and 53317.5 of the Act and Section F of each Rate and Method. No other properties or entities within each of the Improvement Areas are exempt from the special tax unless the properties or entities are expressly exempted in Resolution No. 24-___ or in a resolution of consideration to levy a new special tax or special taxes or to alter the applicable Rate and Method or an existing special tax as provided in Section 53334 of the Act.

Section 5. All of the collections of the special tax within each Improvement Area shall be used as provided for in the Act, the Rate and Method for such Improvement Area and Resolution No. 24-___.

Section 6. The special tax within each Improvement Area shall be collected in the same manner as ordinary ad valorem property taxes are collected and shall be subject to the same penalties and the same procedure, sale and lien priority in case of delinquency as is provided for ad valorem taxes (which such procedures include the exercise of all rights and remedies permitted by law to make corrections, including, but not limited to, the issuance of amended or supplemental tax bills), as such procedure may be modified by law or by this City Council from time to time.

Section 7. As a cumulative remedy, if any amount levied as a special tax for payment of the interest or principal of the Bonds issued by the District for an Improvement Area (including any bonds issued to refund such Bonds), together with any penalties and other charges accruing under this Ordinance, are not paid when due, the City Council may, not later than four years after the due date of the last installment of principal on such Bonds (including any bonds issued to refund such Bonds), order that the same be collected by an action brought in the superior court to foreclose the lien of such special tax within the applicable Improvement Area, as authorized by the Act.

Section 8. The Mayor of the City shall sign this Ordinance and the City Clerk or any Acting City Clerk (referred to herein as the “City Clerk”) shall attest to the Mayor’s signature and then cause the same to be published within fifteen (15) days after its passage at least once in The Press Enterprise, a newspaper of general circulation published and circulated in the City of Menifee.

Section 9. The specific authorization for adoption of this Ordinance is pursuant to the provisions of Section 53340 of the Act.

Section 10. The City Clerk is hereby authorized to transmit a certified copy of this ordinance to the Treasurer-Tax Collector of the County of Riverside, and to perform all other acts which are required by the Act, this Ordinance or by law in order to accomplish the purpose of this Ordinance.

Section 11. A full reading of this Ordinance is dispensed with prior to its final passage, a written or printed copy having been available to the City Council and the public a day prior to its final passage.

Section 12. This Ordinance shall take effect thirty days after its final passage.

PASSED, APPROVED AND ADOPTED this the 7th Day of August, 2024. {SIGNATURES ON FOLLOWING PAGE}
Item Title: 11.4
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___________________________
Bill Zimmerman, Mayor
Attest:
___________________________
Stephanie Roseen, Acting City Clerk
Approved as to form:
___________________________
Jeffrey T. Melching, City Attorney
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Ordinance Introduction and Formation of Community Facilities District No. 2024-2, Golden Meadows by Golden Meadowland, LLC and Golden Hill Country, LLC
Item Page Number: 133
Menifee Mayor and City Council August 7, 2024 Page 1315 of 1560 Item Title: 11.4
Ordinance Introduction and Formation of Community Facilities District No. 2024-2, Golden Meadows by Golden Meadowland, LLC and Golden Hill Country, LLC
Item Page Number: 134
Menifee Mayor and City Council August 7, 2024 Page 1316 of 1560 Item Title: 11.4
Ordinance Introduction and Formation of Community Facilities District No. 2024-2, Golden Meadows by Golden Meadowland, LLC and Golden Hill Country, LLC
Item Page Number: 135
Menifee Mayor and City Council August 7, 2024 Page 1317 of 1560 Item Title: 11.4
Ordinance Introduction and Formation of Community Facilities District No. 2024-2, Golden Meadows by Golden Meadowland, LLC and Golden Hill Country, LLC
Item Page Number: 1
Menifee Mayor and City Council August 7, 2024 Page 1318 of 1560

CITY OF MENIFEE
SUBJECT: Ordinance Introduction and Formation of Community Facilities District No. 2024-3, River Walk Village by Richmond American Homes of Maryland
MEETING DATE: August 7, 2024
TO: Mayor and City Council
PREPARED BY: Lauri Lockwood, Financial Analyst
REVIEWED BY: Travis Hickey, Chief Financial Officer
APPROVED BY: Armando G. Villa, City Manager
-------------------------------------------------------------------------------------------------------------------------------

RECOMMENDED ACTION

1. Adopt a resolution establishing Community Facilities District No. 2024-3, River Walk Village, (“CFD No. 2024-3”), located northwest of Bradley Road and Lazy Creek Road, and calling an election; and

2. Adopt a resolution determining the necessity to incur bonded indebtedness in an amount notto-exceed $7,000,000 for CFD No. 2024-3; and

3. Adopt a resolution certifying the election results for CFD No. 2024-3; and

4. Introduce an ordinance authorizing the levy of special taxes within CFD No. 2024-3.

DISCUSSION
Item Title: 11.5
Ordinance Introduction and Formation of Community Facilities District No. 2024-3, River Walk Village by Richmond American Homes of Maryland
Item Page Number: 1
Menifee Mayor and City Council August 7, 2024 Page 1319 of 1560 City of Menifee Staff Report
Ordinance Introduction and Formation of CFD No. 2024-3, River Walk Village August 7, 2024

On June 19, 2024, the City Council adopted Resolution No. 24-1451 (the “Resolution of Intention”), declaring its intent to commence the formation of CFD No. 2024-3. The next step in the proceedings to hold a public hearing on August 7, 2024, to conduct an election in CFD No. 2024-3 and to declare the results of that election.

Richmond American Homes of Maryland, a Maryland corporation (the “Developer”), owns the property in CFD No. 2024-3 and intends to develop it with 198 homes on approximately 14 gross acres located northwest of Bradley Road and Lazy Creek Road. The Developer requested that the City form CFD No. 2024-3 in accordance with the Mello-Roos Community Facilities Act of 1982, as amended (the “Mello-Roos Act”), to finance the costs of certain public improvements through the levy of a special tax and the issuance of bonds in an amount not to exceed $7,000,000.

The Developer has requested that the boundaries of CFD No. 2024-3 include the area described in “Exhibit A” of the Resolution of Intention and that special taxes be levied within the boundaries of CFD No. 2024-3 in accordance with the Rate and Method of Apportionment (the “RMA”) as described in “Exhibit C” to the Resolution of Intention, which is included as an appendix to the attached Public Hearing Report.

The Resolution of Intention called for a public hearing to be held on August 7, 2024, for the City Council to formally consider the formation of CFD No. 2024-3 and the levy of the special taxes within CFD No. 2024-3. Notice of the public hearing was published in the Press Enterprise and mailed to the Developer in accordance with the Mello-Roos Act.

In connection with the public hearing, Spicer Consulting Group has prepared a Public Hearing Report that describes and analyzes the facilities to be financed by the CFD and the estimated costs of such facilities. Following the close of the public hearing, the City Council will be asked to adopt the Resolution of Formation and the Resolution Determining the Necessity to Incur Debt which, together, approve the formation of the CFD and the levy of the special taxes within the CFD in accordance with the RMA and determines the necessity for the CFD to issue bonds in an amount not to exceed $7 million. Such Resolutions call for an election to submit to the qualified voters in the CFD ballot measures on the approval of the special taxes, the issuance of the bonds and an appropriations limit for the CFD.

In addition, the Resolution of Formation, approves the execution and delivery of a Funding Agreement with the Developer (the “Funding Agreement”) in the form presented to the City Council. The Funding Agreement sets forth the terms, among others, pursuant to which the CFD will finance improvements benefitting the CFD. The Developer expects to request City Council approval of a Joint Community Facilities Agreement with the Developer and Menifee Union School District (“School District JCFA”) at a later date. In accordance with the Mello-Roos Act, the approval and execution of the School District JCFA allows for the CFD to finance improvements to be owned and operated by Menifee Union School District that benefit the development within the CFD.

On file with the City Clerk is a Certificate of the Registrar of Voters of Riverside County certifying that there are no registered voters residing within the boundaries of the CFD. Accordingly, under the Mello-Roos Act, only landowners in the CFD are eligible to vote at the election with each owner having one vote for each acre (or portion thereof) that they own within the CFD. The Developer, as the landowner in the CFD, has executed a consent and waiver of certain election Item Title: 11.5
Ordinance Introduction and Formation of Community Facilities District No. 2024-3, River Walk Village by Richmond American Homes of Maryland
Item Page Number: 2
Menifee Mayor and City Council August 7, 2024 Page 1320 of 1560 City of Menifee Staff Report
Ordinance Introduction and Formation of CFD No. 2024-3, River Walk Village August 7, 2024

procedures for the election within the CFD, including certain timing requirements with respect to the election in accordance with the Mello-Roos Act. Accordingly, if the City Council approves the Resolution of Formation and the Resolution Determining the Necessity to Incur Debt, the City Clerk would conduct the elections. The City Clerk would announce the election results and the City Council would be asked to adopt the Resolution Certifying the Election Results. Based upon certification that two-thirds of the votes cast are in favor of the propositions voted upon, the Resolution Certifying the Election Results directs the City Clerk to record a notice of special tax lien on the property within the CFD. The City Council would then be asked to introduce the Ordinance authorizing the levy of the special tax within the CFD in accordance with the applicable RMA.

Item Title: 11.5
Ordinance Introduction and Formation of Community Facilities District No. 2024-3, River Walk Village by Richmond American Homes of Maryland
Item Page Number: 3
Menifee Mayor and City Council August 7, 2024 Page 1321 of 1560 City of Menifee Staff Report
Ordinance Introduction and Formation of CFD No. 2024-3, River Walk Village August 7, 2024

STRATEGIC PLAN OBJECTIVE
Regular City Business

FISCAL IMPACT
The CFD would be required to annually levy special taxes on all taxable property within the CFD in order to pay for the costs of facilities, debt service on bonds and administration of the CFD.

Any bonds issued by the CFD are not obligations of the City and would be secured solely by the special taxes levied in the CFD. The Developer has made a deposit to pay for the costs of forming the CFD. The Funding Agreement includes a provision for reimbursement of these costs to the Developer if and when bonds are issued for the CFD.

ATTACHMENTS

1. Resolution of Formation CFD 2024-3

2. Resolution of Necessity to Incur Debt CFD 2024-3

3. Resolution Certifying Election Results CFD 2024-3

4. Ordinance Authorizing the Levy of Special Taxes CFD 2024-3

5. Public Hearing Report CFD 2024-3

6. Acquisition Construction and Funding Agreement CFD 2024-3

7. Certificate of Registrar of Voters CFD 2024-3
Item Title: 11.5
Ordinance Introduction and Formation of Community Facilities District No. 2024-3, River Walk Village by Richmond American Homes of Maryland
Item Page Number: 4
Menifee Mayor and City Council August 7, 2024 Page 1322 of 1560 4891-7928-1101v2/200299-0024
RESOLUTION NO. 24-__

RESOLUTION OF THE CITY COUNCIL OF THE CITY OF

MENIFEE ESTABLISHING COMMUNITY FACILITIES DISTRICT
NO. 2024-3 OF THE CITY OF MENIFEE (RIVER WALK

VILLAGE), AUTHORIZING THE LEVY OF A SPECIAL TAX

THEREIN, CALLING AN ELECTION AND APPROVING AND

AUTHORIZING CERTAIN ACTIONS RELATED THERETO
WHEREAS, the City Council (the “City Council”) of the City of Menifee (the “City”) has heretofore adopted Resolution No. 24-1451 stating its intention to form Community Facilities District No. 2024-3 (River Walk Village) of the City of Menifee (“Community Facilities District No. 2024-3” or the “District”) pursuant to the Mello-Roos Community Facilities Act of 1982, as amended, being Chapter 2.5 of Part 1 of Division 2 of Title 5 of the Government Code of the State of California (the “Act”); and
WHEREAS, a copy of Resolution No. 24-1451 setting forth a description of the proposed boundaries of Community Facilities District No. 2024-3, the facilities and incidental expenses to be financed by the District and the rate and method of apportionment of the special tax proposed to be levied within the District is on file with the City Clerk; and WHEREAS, notice was published and mailed to all landowners of the land proposed to be included within the District as required by law relative to the intention of this City Council to form proposed Community Facilities District No. 2024-3 and to levy a special tax (the “Special Tax”) and to incur bonded indebtedness in the amount of up to $7,000,000 therein to finance the facilities and incidental expenses described in Resolution No. 24-1451; and WHEREAS, on August 7, 2024, this City Council conducted a noticed public hearing as required by law relative to the proposed formation of Community Facilities District No. 2024-3, the levy of the Special Tax therein and the issuance of bonded indebtedness by the District; and WHEREAS, at the August 7, 2024, public hearing there was filed with this City Council a report containing a description of the facilities necessary to meet the needs of the District and an estimate of the cost of such facilities as required by Section 53321.5 of the Act (the “Engineer’s Report”); and
WHEREAS, at the August 7, 2024, public hearing all persons desiring to be heard on all matters pertaining to the formation of Community Facilities District No. 2024-3, the levy of the Special Tax and the issuance of bonded indebtedness were heard and full and fair hearings were held; and
WHEREAS, following the public hearing, this City Council has determined to authorize the formation of the District to finance the types of facilities (the “Facilities”) and the incidental expenses (the “Incidental Expenses”) set forth in Exhibit A hereto, which are described in more detail in the Engineer’s Report; and
WHEREAS, at the public hearing evidence was presented to this City Council on the matters before it, and the proposed Special Tax to be levied within the District was not precluded by a majority protest of the type described in Section 53324 of the Act, and this City Council at the conclusion of the hearing was fully advised as to all matters relating to the Item Title: 11.5
Ordinance Introduction and Formation of Community Facilities District No. 2024-3, River Walk Village by Richmond American Homes of Maryland
Item Page Number: 1
Menifee Mayor and City Council August 7, 2024 Page 1323 of 1560 Resolution Establishing CFD No. 2024-3 (River Walk Village) 2 4891-7928-1101v2/200299-0024
formation of the District, the levy of the Special Tax and the issuance of bonded indebtedness therein; and
WHEREAS, this City Council has determined, based on a Certificate of Registrar of Voters of the County of Riverside on file in the office of the City Clerk, that no registered voters have been residing in the proposed boundaries of Community Facilities District No. 2024-3 for each of the 90 days prior to August 7, 2024, and that the qualified electors in Community Facilities District No. 2024-3 are the landowners within the District; and WHEREAS, on the basis of all of the foregoing, this City Council has determined to proceed with the establishment of Community Facilities District No. 2024-3 and to call an election therein to authorize (i) the levy of the Special Tax pursuant to the rate and method of apportionment of the special tax, as set forth in Exhibit C to Resolution No. 24-1451 (the “Rate and Method”), (ii) the issuance of bonds to finance the Facilities and Incidental Expenses, and (iii) the establishment of an appropriations limit for Community Facilities District No. 2024-3; and WHEREAS, in order to facilitate the funding of the Facilities, the legislative body of the District desires to enter into a Funding Agreement (the “Agreement”) with Richmond American Homes of Maryland, Inc., a Maryland corporation (“Richmond American”) and the form of the Agreement is on file with the City Clerk; and

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF MENIFEE DOES HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS:

Section 1. Each of the above recitals is true and correct.

Section 2. A community facilities district to be designated “Community Facilities District No. 2024-3 (River Walk Village) of the City of Menifee” is hereby established pursuant to the Act. The City Council hereby finds and determines that all prior proceedings taken with respect to the establishment of the District were valid and in conformity with the requirements of law, including the Act. This finding is made in accordance with the provisions of Section 53325.1(b) of the Act.

Section 3. The boundaries of Community Facilities District No. 2024-3 are established as shown on the map designated “Community Facilities District No. 2024-3 (River Walk Village) City of Menifee, County of Riverside, State of California,” which map is on file in the office of the City Clerk and was recorded pursuant to Sections 3111 and 3113 of the Streets and Highways Code in the County Book of Maps of Assessment and Community Facilities Districts in the AssessorCounty Clerk-Recorder’s office of the County of Riverside in Book No. 93 Page No. 43 on June 24, 2024 as Instrument No. 2024-0181159.

Section 4. The types of Facilities and Incidental Expenses authorized to be provided for Community Facilities District No. 2024-3 are those set forth in Exhibit A attached hereto. The estimated cost of the Facilities and Incidental Expenses to be financed is set forth in the Engineer’s Report, which estimates may change as the Facilities are designed and bid for construction and acquisition, as applicable.

The City is authorized by the Act to contribute revenue to, or to construct or acquire the Facilities, all in accordance with the Act. The City Council finds and determines that the proposed Facilities are necessary to meet the increased Item Title: 11.5
Ordinance Introduction and Formation of Community Facilities District No. 2024-3, River Walk Village by Richmond American Homes of Maryland
Item Page Number: 2
Menifee Mayor and City Council August 7, 2024 Page 1324 of 1560 Resolution Establishing CFD No. 2024-3 (River Walk Village) 3 4891-7928-1101v2/200299-0024
demand that will be placed upon local agencies and public infrastructure as a result of new development within the District and that the Facilities to be financed, including those to be financed pursuant the JCFA to be entered into with the School District, benefit residents of the City and the future residents of the District.

Section 5. Except where funds are otherwise available, it is the intention of this City Council, subject to the approval of the eligible voters of the District, to levy annually a Special Tax at the rates set forth in the Rate and Method on all non-exempt property within the District sufficient to pay for (i) the Facilities, (ii) the principal and interest and other periodic costs on the bonds proposed to be issued to finance the Facilities and Incidental Expenses, including the establishment and replenishment of reserve funds, any remarketing, credit enhancement and liquidity facility fees and other expenses of the type permitted by Section 53345.3 of the Act; and (iii) the Incidental Expenses. The District expects to incur, and in certain cases has already incurred, Incidental Expenses in connection with the creation of the District, the issuance of bonds, the levying and collecting of the Special Tax, the completion and inspection of the Facilities and the annual administration of the bonds and the District. The Rate and Method is described in detail in Exhibit C to Resolution No. 24-1451 and incorporated herein by this reference, and the City Council hereby finds that the Rate and Method contains sufficient detail to allow each landowner within the District to estimate the maximum amount that may be levied against each parcel. As described in greater detail in the Engineer’s Report, which is incorporated by reference herein, the Special Tax is based on the expected demand that each parcel of real property within Community Facilities District No. 2024-3 will place on the Facilities and on the benefit that each parcel will derive from the right to access the Facilities and, accordingly, is hereby determined to be reasonable. The Special Tax shall be levied on each assessor’s parcel in accordance with the Rate and Method provided, however, that the Special Tax shall not be levied after Fiscal Year 2069-70. The Special Tax is apportioned to each parcel on the foregoing bases pursuant to Section 53325.3 of the Act and such Special Tax is not on or based upon the ownership of real property or the assessed value of real property.

If Special Taxes of the District are levied against any parcel used for private residential purposes, (i) the maximum Special Tax rate shall be specified as a dollar amount which shall be calculated and established not later than the date on which the parcel is first subject to the Special Tax because of its use for private residential purposes and shall not be increased over time except as authorized under the Rate and Method, (ii) the Special Tax shall not be levied after Fiscal Year 2069-70, and (iii) under no circumstances will the Special Tax levied against any such parcel used for private residential uses be increased as a consequence of delinquency or default by the owner or owners of any other parcel or parcels within the District by more than ten percent above the amount that would have been levied in that fiscal year had there never been any such delinquencies or defaults.

The City Manager of the City of Menifee, or his or her designee, will be responsible for preparing annually, or authorizing a designee to prepare, a current roll of special tax levy obligations by assessor’s parcel number and will be Item Title: 11.5
Ordinance Introduction and Formation of Community Facilities District No. 2024-3, River Walk Village by Richmond American Homes of Maryland
Item Page Number: 3
Menifee Mayor and City Council August 7, 2024 Page 1325 of 1560 Resolution Establishing CFD No. 2024-3 (River Walk Village) 4 4891-7928-1101v2/200299-0024
responsible for estimating future special tax levies pursuant to Section 53340.2 of the Act.

Section 6. In the event that a portion of the property within Community Facilities District No. 2024-3 shall become for any reason exempt, wholly or partially, from the levy of the Special Tax specified in the Rate and Method, or in the event of delinquencies in the payment of Special Taxes levied, the City Council shall, on behalf of Community Facilities District No. 2024-3, increase the levy to the extent necessary and permitted by law and these proceedings upon the remaining property within Community Facilities District No. 2024-3 which is not exempt or delinquent in order to yield the required debt service payments on any outstanding bonds of the District, or to prevent the District from defaulting on any of its other obligations or liabilities; provided, however, under no circumstances will the Special Tax levied against any parcel used for private residential uses be increased as a consequence of delinquency or default by the owner or owners of any other parcel or parcels within the District by more than ten percent above the amount that would have been levied in that fiscal year had there never been any such delinquencies or defaults. The amount of the Special Tax will be set in accordance with the Rate and Method. The obligation to pay Special Taxes may be prepaid only as set forth in Section G of the Rate and Method.

Section 7. Upon recordation of a notice of special tax lien pursuant to Section 3114.5 of the Streets and Highways Code, a continuing lien to secure each levy of the Special Tax shall attach to all non-exempt real property in the District and this lien shall continue in force and effect until the Special Tax obligation is prepaid and permanently satisfied and the lien canceled in accordance with law or until collection of the Special Tax by the District ceases.

Section 8. Consistent with Section 53325.6 of the Act, the City Council finds and determines that the land within Community Facilities District No. 2024-3, if any, devoted primarily to agricultural, timber or livestock uses and being used for the commercial production of agricultural, timber or livestock products is contiguous to other land within Community Facilities District No. 2024-3 and will be benefited by the Facilities proposed to be provided within Community Facilities District No. 2024-3.

Section 9. It is hereby further determined that there is no ad valorem property tax currently being levied on property within proposed Community Facilities District No. 2024- 3 for the exclusive purpose of paying the principal of or interest on bonds or other indebtedness incurred to finance the construction of capital facilities which provide the same services to the territory of Community Facilities District No. 2024-3 as are proposed to be provided by the Facilities to be financed by Community Facilities District No. 2024-3.

Section 10. Written protests against the establishment of the District have not been filed by one-half or more of the registered voters within the boundaries of the District or by the property owners of one-half (1/2) or more of the area of land within the District. The City Council hereby finds that the proposed Special Tax has not been precluded by a majority protest pursuant to Section 53324 of the Act.

Item Title: 11.5
Ordinance Introduction and Formation of Community Facilities District No. 2024-3, River Walk Village by Richmond American Homes of Maryland
Item Page Number: 4
Menifee Mayor and City Council August 7, 2024 Page 1326 of 1560 Resolution Establishing CFD No. 2024-3 (River Walk Village) 5 4891-7928-1101v2/200299-0024
Section 11. An election is hereby called for Community Facilities District No. 2024-3 on the propositions of levying the Special Tax on the property within Community Facilities District No. 2024-3 and establishing an appropriations limit for the District pursuant to Section 53325.7 of the Act and shall be consolidated with the election on the proposition of incurring bonded indebtedness, pursuant to Sections 53351 and 53353.5 of the Act. The language of the propositions to be placed on the ballot is attached hereto as Exhibit B.

Section 12. The date of the election for Community Facilities District No. 2024-3 on the propositions of incurring the bonded indebtedness, authorizing the levy of the Special Tax and establishing an appropriations limit for the District shall be August 7, 2024, or such later date as is consented to by the City Clerk or Deputy City Clerk (referred to herein as the “City Clerk”) of the City of Menifee; provided that, if the election is to take place sooner than 90 days after August 7, 2024, then the unanimous written consent of each qualified elector within the District to such election date must be obtained. The polls shall be open for said election immediately following the close of the public hearing on August 7, 2024. The election shall be conducted by the City Clerk. Except as otherwise provided by the Act, the election shall be conducted in accordance with the provisions of law regulating elections of the City of Menifee insofar as such provisions are determined by the City Clerk to be applicable. The City Clerk is authorized to conduct the election following the adoption of this resolution, and all ballots shall be received by, and the City Clerk shall close the election by, 11:00 p.m. on the election day; provided the election shall be closed at such earlier time as all qualified electors have voted as provided in Section 53326(d) of the Act.

Pursuant to Section 53326 of the Act, the ballots for the special election shall be distributed in person, or by mail with return postage prepaid, to the qualified electors within Community Facilities District No. 2024-3. The City Clerk has secured a certificate from the Registrar of Voters of the County of Riverside certifying that there were no registered voters within the District as of June 12, 2024. Accordingly, since there were fewer than 12 registered voters within the District for each of the 90 days preceding August 7, 2024, the qualified electors shall be the landowners within the District and each landowner, or the authorized representative thereof, shall have one vote for each acre or portion thereof that such landowner owns within Community Facilities District No. 2024-3, as provided in Section 53326 of the Act. The landowner within the District has executed and delivered a waiver of certain election law requirements and consenting to the holding of the election on August 7, 2024, which waiver is on file with the City Clerk.

Section 13. The preparation of the Engineer’s Report is hereby ratified. The Engineer’s Report, as submitted, is hereby approved and was made a part of the record of the public hearing regarding the formation of Community Facilities District No. 2024-3. The Engineer’s Report is ordered to be kept on file with the transcript of these proceedings and open for public inspection.

Section 14. The form of the Agreement on file with the City Clerk is approved as to form, and each of the City Manager, Chief Financial Officer, and their written designees, is authorized to execute the Agreement in substantially the form on file with the City Clerk, together with such changes as are approved by the officer executing the Item Title: 11.5
Ordinance Introduction and Formation of Community Facilities District No. 2024-3, River Walk Village by Richmond American Homes of Maryland
Item Page Number: 5
Menifee Mayor and City Council August 7, 2024 Page 1327 of 1560 Resolution Establishing CFD No. 2024-3 (River Walk Village) 6 4891-7928-1101v2/200299-0024
same, with the approval of such changes to be conclusively evidenced by the execution and delivery thereof.

Section 15. This Resolution shall be effective upon its adoption.

PASSED, APPROVED AND ADOPTED this the 7th day of August, 2024. ___________________________
Bill Zimmerman, Mayor
Attest:
___________________________
Stephanie Roseen, Acting City Clerk
Approved as to form:
___________________________
Jeffrey T. Melching, City Attorney
Item Title: 11.5
Ordinance Introduction and Formation of Community Facilities District No. 2024-3, River Walk Village by Richmond American Homes of Maryland
Item Page Number: 6
Menifee Mayor and City Council August 7, 2024 Page 1328 of 1560 A-1
4891-7928-1101v2/200299-0024

EXHIBIT A
Types of Facilities
to Be Financed by Community
Facilities District No. 2024-3 (River Walk Village) of the City of Menifee The proposed types of public facilities and expenses to be financed by the District include:

The construction, purchase, modification, expansion, rehabilitation and/or improvement of (i) drainage, library, park, street, roadway, traffic signal and streetlights, administration and general government facilities, animal shelter facilities, fire and public safety facilities, and other public facilities of the City, including the foregoing public facilities which are included in the City’s fee programs with respect to such facilities and authorized to be financed under the MelloRoos Community Facilities Act of 1982, as amended (the “City Facilities”); and (ii) interim and permanent school facilities of Menifee Union School District, including classrooms, multipurpose facilities, administration and auxiliary space at school facilities, athletic fields, playgrounds and recreational facilities and improvements thereto, landscaping, access roadways, drainage, sidewalks and gutters and utility lines, furniture, equipment and technology, including technology upgrades and mobile devices and infrastructure therefore, with a useful life of at least five (5) years at such school facilities, including such school facilities of Menifee Union School District which are included in Menifee Union School District’s school fee program (the “School Facilities” and together, with the City Facilities, the “Facilities”), and all appurtenances and appurtenant work in connection with the foregoing Facilities, including the cost of engineering, planning, designing, materials testing, coordination, construction staking, construction management and supervision for such Facilities, and to finance the incidental expenses to be incurred, including:
a. The cost of engineering, planning and designing the Facilities; b. All costs, including costs of the property owner petitioning to form the District, associated with the creation of the District, the issuance of the bonds, the determination of the amount of special taxes to be levied and costs otherwise incurred in order to carry out the authorized purposes of the District; and
c. Any other expenses incidental to the construction, acquisition, modification, rehabilitation, completion and inspection of the Facilities.

Capitalized terms used and not defined herein shall have the meaning set forth in the Rate and Method of Apportionment of Special Taxes for the District.

Item Title: 11.5
Ordinance Introduction and Formation of Community Facilities District No. 2024-3, River Walk Village by Richmond American Homes of Maryland
Item Page Number: 7
Menifee Mayor and City Council August 7, 2024 Page 1329 of 1560 B-1
4891-7928-1101v2/200299-0024

EXHIBIT B

BALLOT PROPOSITIONS
COMMUNITY FACILITIES DISTRICT NO. 2024-3 (RIVER WALK VILLAGE)

OF THE CITY OF MENIFEE

SPECIAL TAX AND SPECIAL BOND ELECTION
PROPOSITION A: Shall Community Facilities District
No. 2024-3 (River Walk Village) of the City of Menifee
(the “District”) incur an indebtedness and issue bonds in the maximum principal amount of $7,000,000, with
interest at a rate or rates not to exceed the maximum
interest rate permitted by law, to finance the Facilities and the Incidental Expenses described in Resolution No. 24-1451 of the City Council of the City of Menifee?
PROPOSITION B: Shall a special tax with a rate and
method of apportionment as provided in Resolution No.
24-1451 of the City Council of the City of Menifee be
levied to pay for the Facilities, Incidental Expenses and other purposes described in Resolution No. 24-1451,
including the payment of the principal of and interest on bonds issued to finance the Facilities and Incidental
Expenses?
YES______
NO_______
YES______
NO_______
PROPOSITION C: For each year commencing with
Fiscal Year 2024-25, shall the appropriations limit, as defined by subdivision (h) of Section 8 of Article XIII B of the California Constitution, for the District be an amount equal to $3,000,000?
YES______
NO_______
Item Title: 11.5
Ordinance Introduction and Formation of Community Facilities District No. 2024-3, River Walk Village by Richmond American Homes of Maryland
Item Page Number: 8
Menifee Mayor and City Council August 7, 2024 Page 1330 of 1560 4888-2866-3501v2/200299-0024
RESOLUTION NO. _____

RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MENIFEE

ACTING AS THE LEGISLATIVE BODY OF COMMUNITY FACILITIES
DISTRICT NO. 2024-3 (RIVER WALK VILLAGE) OF THE CITY OF

MENIFEE DETERMINING THE NECESSITY TO INCUR BONDED
INDEBTEDNESS IN AN AMOUNT NOT TO EXCEED $7,000,000
WITHIN COMMUNITY FACILITIES DISTRICT NO. 2024-3 (RIVER

WALK VILLAGE) OF THE CITY OF MENIFEE AND CALLING AN

ELECTION THEREIN
WHEREAS, on June 19, 2024, the City Council of the City of Menifee (the “City Council”) adopted Resolution No. 24-1451 stating its intention to form Community Facilities District No. 2024-3 (River Walk Village) of the City of Menifee (“Community Facilities District No. 2024-3” or the “District”) pursuant to the Mello-Roos Community Facilities Act of 1982, as amended (the “Act”); and WHEREAS, on June 19, 2024, the City Council also adopted Resolution No. 24-1452 stating its intention to incur bonded indebtedness in the amount of up to $7,000,000 within proposed Community Facilities District No. 2024-3 to finance (1) the purchase, construction, modification, expansion, improvement or rehabilitation of public facilities identified in Exhibit B to Resolution No. 24-1451, and (2) the incidental expenses to be incurred in financing such public facilities and forming and administering the District, as identified in Exhibit B to Resolution No. 24-1451; and WHEREAS, notice was published as required by law relative to the intention of the City Council to form proposed Community Facilities District No. 2024-3 and to incur bonded indebtedness in the amount of up to $7,000,000 within the boundaries of proposed Community Facilities District No. 2024- 3; and
WHEREAS, on August 7, 2024, this City Council conducted a noticed public hearing to determine whether it should proceed with the formation of Community Facilities District No. 2024-3, issue bonds to pay for the facilities and incidental expenses described in Resolution No. 24-1451 and authorize the rate and method of apportionment of a special tax to be levied within Community Facilities District No. 2024-3 for the purposes described in Resolution No. 24-1451; and WHEREAS, at said hearing all persons desiring to be heard on all matters pertaining to the formation of Community Facilities District No. 2024-3, the levy of a special tax and the issuance of bonds to pay for the cost of the proposed facilities and incidental expenses were heard and a full and fair hearing was held; and
WHEREAS, the City Council subsequent to such hearing adopted Resolution No. 24-___ establishing Community Facilities District No. 2024-3 (the “Resolution of Formation”) and authorizing the financing of the public facilities (the “Facilities”) and the incidental expenses (the “Incidental Expenses”) described in Exhibit A thereto; and
WHEREAS, the City Council desires to make the necessary findings to incur bonded indebtedness within the District, to declare the purpose for said debt, and to authorize the submittal of a proposition to issue bonded indebtedness to the voters of the District, being the landowners within the proposed District, all as authorized and required by law;

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF MENIFEE HEREBY FINDS, DETERMINES, RESOLVES, AND ORDERS AS FOLLOWS:

Section 1. It is necessary to incur bonded indebtedness in a maximum aggregate principal amount Item Title: 11.5
Ordinance Introduction and Formation of Community Facilities District No. 2024-3, River Walk Village by Richmond American Homes of Maryland
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not to exceed $7,000,000 within Community Facilities District No. 2024-3.

Section 2. The indebtedness is to be incurred for the purpose of financing the costs of purchasing, constructing, modifying, expanding, improving, or rehabilitating the Facilities and financing the Incidental Expenses, as described in the Resolution of Formation, and carrying out the powers and purposes of Community Facilities District No. 2024-3, including, but not limited to, financing the costs of selling the bonds, establishing and replenishing bond reserve funds and paying remarketing, credit enhancement and liquidity facility fees and other expenses of the type authorized by Section 53345.3 of the Act.

Section 3. The whole of the property within Community Facilities District No. 2024-3, other than property exempted from the special tax pursuant to the provisions of the rate and method of apportionment attached to Resolution No. 24-1451 as Exhibit C, shall pay for the bonded indebtedness pursuant to the levy of the special tax authorized by the Resolution of Formation.

Section 4. The maximum term of the bonds to be issued shall in no event exceed thirty-five (35) years from the date of issuance of the bonds, or such longer term as is then permitted by law.

Section 5. The bonds shall bear interest at the rate or rates not to exceed the maximum interest rate permitted by law, payable annually or semiannually, or in part annually and in part semiannually, except the first interest payment may be for a period of less than six months, with the actual rate or rates and times of payment to be determined at the time or times of sale thereof.

Section 6. The bonds may bear a variable or fixed interest rate, provided that such variable rate or fixed rate shall not exceed the maximum rate permitted by Section 53531 of the Government Code, or any other applicable provision of law limiting the maximum interest rate on the bonds.

Section 7. Pursuant to Section 53351 of the Act, a special election is hereby called for Community Facilities District No. 2024-3 on the proposition of incurring the bonded indebtedness.

The proposition relative to incurring bonded indebtedness in the maximum aggregate principal amount of $7,000,000 shall be in the form of Proposition A set forth in Exhibit A hereto. In accordance with Sections 53351(h) and 53353.5 of the Act, the election shall be consolidated with the special election called on the proposition of levying a special tax within the District as described in the Resolution of Formation, which proposition shall be in the form of Proposition B set forth in Exhibit A, and on the proposition of establishing an appropriations limit for the District, which proposition shall be in the form of Proposition C set forth in Exhibit A.

Section 8. The date of the special election for Community Facilities District No. 2024-3 on the propositions of incurring the bonded indebtedness, authorizing the levy of the special tax and setting an appropriations limit shall be August 7, 2024, or such later date as is consented to by the City Clerk, or a Deputy City Clerk of the City (referred to herein as the “City Clerk”); provided that, if the election is to take place sooner than 90 days after August 7, 2024, then the unanimous written consent of each qualified elector within the District to such election date must be obtained. The polls shall be open for said election immediately following the public hearing on August 7, 2024. The election shall be conducted by the City Clerk. Except as otherwise provided by the Act, the election shall be conducted in accordance with the provisions of law regulating elections of the City of Item Title: 11.5
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Menifee insofar as such provisions are determined by the City Clerk to be applicable.

The City Clerk is authorized to conduct the election following the adoption of the Resolution of Formation, and this resolution and all ballots shall be received by and the City Clerk shall close the election by 11:00 p.m. on the election day; provided the election shall be closed at such earlier time as all qualified electors have voted as provided in Section 53326(d) of the Act. Pursuant to Section 53326 of the Act, the ballots for the special election shall be distributed in person, or by mail with return postage prepaid, to the qualified electors within Community Facilities District No. 2024-3.

The City Clerk has secured a certificate of the Registrar of Voters of the County of Riverside certifying that there were no registered voters within the District as of June 12, 2024. Accordingly, since there were fewer than 12 registered voters within the District for each of the 90 days preceding August 7, 2024, the qualified electors shall be the landowners within the District and each landowner, or the authorized representative thereof, shall have one vote for each acre or portion thereof that such landowner owns within Community Facilities District No. 2024-3, as provided in Section 53326 of the Act.

The landowner within the District has executed and delivered a waiver of certain election law requirements and consenting to the holding of the election on August 7, 2024, which waiver is on file with the City Clerk.

Section 9. This Resolution shall be effective upon its adoption.

PASSED, APPROVED AND ADOPTED this the 7th day of August, 2024. ___________________________
Bill Zimmerman, Mayor
Attest:
___________________________
Stephanie Roseen, Acting City Clerk
Approved as to form:
___________________________
Jeffrey T. Melching, City Attorney
Item Title: 11.5
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Item Page Number: 3
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EXHIBIT A

BALLOT PROPOSITIONS
COMMUNITY FACILITIES DISTRICT NO. 2024-3 (RIVER WALK VILLAGE)

OF THE CITY OF MENIFEE

SPECIAL TAX AND SPECIAL BOND ELECTION
PROPOSITION A: Shall Community Facilities District
No. 2024-3 (River Walk Village) of the City of Menifee
(the “District”) incur an indebtedness and issue bonds in the maximum principal amount of $7,000,000, with
interest at a rate or rates not to exceed the maximum
interest rate permitted by law, to finance the Facilities and the Incidental Expenses described in Resolution No. 24-1451 of the City Council of the City of Menifee?
PROPOSITION B: Shall a special tax with a rate and
method of apportionment as provided in Resolution No.
24-1451 of the City Council of the City of Menifee be
levied to pay for the Facilities, Incidental Expenses and other purposes described in Resolution No. 24-1451,
including the payment of the principal of and interest on bonds issued to finance the Facilities and Incidental
Expenses?
YES______
NO_______
YES______
NO_______
PROPOSITION C: For each year commencing with
Fiscal Year 2024-25, shall the appropriations limit, as defined by subdivision (h) of Section 8 of Article XIII B of the California Constitution, for the District be an amount equal to $3,000,000?
YES______
NO_______
Item Title: 11.5
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Item Page Number: 4
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RESOLUTION NO. 24-___

RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MENIFEE,

CALIFORNIA ACTING IN ITS CAPACITY AS THE LEGISLATIVE BODY OF COMMUNITY FACILITIES DISTRICT NO. 2024-3 (RIVER WALK

VILLAGE) OF THE CITY OF MENIFEE CERTIFYING ELECTION

RESULTS
WHEREAS, the City Council of the City of Menifee called and duly held an election on August 7, 2024, within the boundaries of Community Facilities District No. 2024-3 (River Walk Village) of the City of Menifee (“Community Facilities District No. 2024-3” or the “District”) pursuant to Resolution Nos. 24- ___ and 24-___ for the purpose of presenting to the qualified electors within the District Propositions A, B and C, attached hereto as Exhibit A; and
WHEREAS, there has been presented to this City Council a certificate of the City Clerk or Deputy City Clerk (referred to herein as the “City Clerk”) canvassing the results of the election, a copy of which is attached hereto as Exhibit B;

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF MENIFEE DOES HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS:

Section 1. Each of the above recitals is true and correct and is adopted by the legislative body of the District.

Section 2. Propositions A, B and C presented to the qualified electors of the District on August 7, 2024, were approved by more than two-thirds of the votes cast at said election and Propositions A, B and C each has carried. The City Council, acting as the legislative body of the District, is hereby authorized to levy on the land within the District the special tax described in Proposition B for the purposes described therein and to take the necessary steps to levy the special tax authorized by Proposition B and to issue bonds in an amount not to exceed $7,000,000 specified in Proposition A.

Section 3. The City Clerk is hereby directed to record in the Assessor-County Clerk-Recorder’s office of the County of Riverside within fifteen days of the date hereof a notice of special tax lien with respect to the District which Bond Counsel to the District shall prepare in the form required by Streets and Highways Code Section 3114.5.

Item Title: 11.5
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This Resolution shall be effective upon its adoption.

PASSED, APPROVED AND ADOPTED this the 7th day of August, 2024. ___________________________
Bill Zimmerman, Mayor
Attest:
___________________________
Stephanie Roseen, Acting City Clerk
Approved as to form:
___________________________
Jeffrey T. Melching, City Attorney
Item Title: 11.5
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Item Page Number: 2
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EXHIBIT A

BALLOT PROPOSITIONS
COMMUNITY FACILITIES DISTRICT NO. 2024-3 (RIVER WALK VILLAGE)

OF THE CITY OF MENIFEE

SPECIAL TAX AND SPECIAL BOND ELECTION
PROPOSITION A: Shall Community Facilities District
No. 2024-3 (River Walk Village) of the City of Menifee
(the “District”) incur an indebtedness and issue bonds in the maximum principal amount of $7,000,000, with
interest at a rate or rates not to exceed the maximum
interest rate permitted by law, to finance the Facilities and the Incidental Expenses described in Resolution No. 24-1451 of the City Council of the City of Menifee?
PROPOSITION B: Shall a special tax with a rate and
method of apportionment as provided in Resolution No.
24-1451 of the City Council of the City of Menifee be
levied to pay for the Facilities, Incidental Expenses and other purposes described in Resolution No. 24-1451,
including the payment of the principal of and interest on bonds issued to finance the Facilities and Incidental
Expenses?
YES______
NO_______
YES______
NO_______
PROPOSITION C: For each year commencing with
Fiscal Year 2024-25, shall the appropriations limit, as defined by subdivision (h) of Section 8 of Article XIII B of the California Constitution, for the District be an amount equal to $3,000,000?
YES______
NO_______
Item Title: 11.5
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Item Page Number: 3
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EXHIBIT B

CERTIFICATE OF CITY CLERK

AS TO THE RESULTS OF THE CANVASS OF THE ELECTION RETURNS I, Stephanie Roseen, Acting City Clerk of the City of Menifee, do hereby certify that I have examined the returns of the Special Tax and Bond Election for Community Facilities District No. 2024-3 (River Walk Village) of the City of Menifee (the “City”). The election was held in the City Council Chambers, 29844 Haun Road, Menifee, California, on August 7, 2024. I caused to be delivered ballots to each qualified elector. __ (__) ballots were returned.

I further certify that the results of said election and the number of votes cast for and against Propositions A, B and C are as follows:

PROPOSITION A PROPOSITION B PROPOSITION C
YES: YES: YES:

NO: NO: NO:

TOTAL: TOTAL: TOTAL:

Dated this 7th day of August, 2024.
/s/ Stephanie Roseen
Stephanie Roseen, Acting City Clerk
City of Menifee
Item Title: 11.5
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ORDINANCE NO. ___-___

ORDINANCE OF THE CITY COUNCIL OF THE CITY OF MENIFEE,

CALIFORNIA ACTING IN ITS CAPACITY AS THE LEGISLATIVE BODY OF COMMUNITY FACILITIES DISTRICT NO. 2024-3 (RIVER WALK

VILLAGE) OF THE CITY OF MENIFEE AUTHORIZING THE LEVY OF

SPECIAL TAXES
WHEREAS, on June 19, 2024, the City Council (the “City Council”) of the City of Menifee (the “City”) adopted Resolution No. 24-1451 declaring its intention to form Community Facilities District No. 2024-3 (River Walk Village) of the City of Menifee (the “District”) 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 (the “Act”), and its Resolution No. 24-1452 declaring its intention to incur bonded indebtedness for the District; and WHEREAS, on August 7, 2024, after providing all notice required by the Act, the City Council conducted a noticed public hearing required by the Act relative to the proposed formation of the District, the proposed levy of a special tax therein to finance certain public facilities described in Resolution No. 24-1451 and to secure the payment of any bonded indebtedness of the District, and the proposed issuance of up to $7,000,000 of bonded indebtedness as described in Resolution No. 24-1452; and WHEREAS, at the August 7, 2024, public hearing, all persons desiring to be heard on all matters pertaining to the formation of the District and the proposed levy of the special tax to finance the facilities described in Resolution No. 24-1451 and to secure the payment of up to $7,000,000 of bonded indebtedness of the District as described in Resolution No. 24-1452 (the “Bonds”) were heard and a full and fair hearing was held; and
WHEREAS, on August 7, 2024, the City Council adopted Resolution Nos. 24-___ and 24-___ which formed the District and called a special election within the District on August 7, 2024, on three propositions relating to the levy of a special tax within the District, the issuance of the Bonds and the establishment of an appropriations limit within the District; and WHEREAS, on August 7, 2024, a special election was held within the District at which the qualified electors approved by more than a two-thirds vote Propositions A, B and C authorizing the levy of a special tax within the District for the purposes described in Resolution No. 24-___, the issuance of the Bonds as described in Resolution No. 24-___ and establishing an appropriations limit for the District; and
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Menifee, California does ordain as follows:

Section 1. The above recitals are all true and correct.

Section 2. By the passage of this Ordinance, the City Council authorizes and levies special taxes within the District pursuant to Sections 53328 and 53340 of the Act at the rates and in accordance with the rate and method of apportionment set forth in Exhibit C to Resolution No. 24-1451, which is incorporated by reference herein (the “Rate and Method”). The special taxes are hereby levied commencing in the fiscal year specified in the Rate and Method and in each fiscal year thereafter until payment in full of the Bonds (including any bonds issued to refund the Bonds), payment of all costs of the public Item Title: 11.5
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facilities authorized to be financed by the District, and payment of all costs of administering the District.

Section 3. Each of the Mayor, the City Manager, the Chief Financial Officer, or their written designees (each, an “Authorized Officer”), acting alone, is hereby authorized and directed each fiscal year to determine the specific special tax rates and amounts to be levied in such fiscal year on each parcel of real property within the District, in the manner and as provided in the Rate and Method. The special tax rate levied on a parcel pursuant to the Rate and Method shall not exceed the maximum rate set forth in the Rate and Method for such parcel, but the special tax may be levied at a lower rate. Each Authorized Officer is hereby authorized and directed to provide all necessary information to the Treasurer-Tax Collector of the County of Riverside and to otherwise take all actions necessary in order to effect proper billing and collection of the special tax, so that the special tax shall be levied and collected in sufficient amounts and at times necessary to satisfy the financial obligations of the District in each fiscal year, and with respect to the special tax, until the Bonds are paid in full, the facilities have been paid for, and provision has been made for payment of all of the administrative costs of the District.

Section 4. Properties or entities of the state, federal or other local governments shall be exempt from the special tax, except as otherwise provided in Sections 53317.3 and 53317.5 of the Act and Section F of the Rate and Method. No other properties or entities are exempt from the special tax unless the properties or entities are expressly exempted in Resolution No. 24-___ or in a resolution of consideration to levy a new special tax or special taxes or to alter the rate or method of apportionment or an existing special tax as provided in Section 53334 of the Act.

Section 5. All of the collections of the special tax shall be used as provided for in the Act, the Rate and Method and Resolution No. 24-___.

Section 6. The special tax shall be collected in the same manner as ordinary ad valorem property taxes are collected and shall be subject to the same penalties and the same procedure, sale and lien priority in case of delinquency as is provided for ad valorem taxes (which such procedures include the exercise of all rights and remedies permitted by law to make corrections, including, but not limited to, the issuance of amended or supplemental tax bills), as such procedure may be modified by law or by this City Council from time to time.

Section 7. As a cumulative remedy, if any amount levied as a special tax for payment of the interest or principal of the Bonds (including any bonds issued to refund the Bonds), together with any penalties and other charges accruing under this Ordinance, are not paid when due, the City Council may, not later than four years after the due date of the last installment of principal on the Bonds (including any bonds issued to refund the Bonds), order that the same be collected by an action brought in the superior court to foreclose the lien of such special tax, as authorized by the Act.

Section 8. The Mayor of the City shall sign this Ordinance and the City Clerk or Deputy City Clerk (referred to herein as the “City Clerk”) shall attest to the Mayor’s signature and then cause the same to be published within fifteen (15) days after its passage at least once in Item Title: 11.5
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The Press Enterprise, a newspaper of general circulation published and circulated in the City of Menifee.

Section 9. The specific authorization for adoption of this Ordinance is pursuant to the provisions of Section 53340 of the Act.

Section 10. The City Clerk is hereby authorized to transmit a certified copy of this ordinance to the Treasurer-Tax Collector of the County of Riverside, and to perform all other acts which are required by the Act, this Ordinance or by law in order to accomplish the purpose of this Ordinance.

Section 11. A full reading of this Ordinance is dispensed with prior to its final passage, a written or printed copy having been available to the City Council and the public a day prior to its final passage.

Section 12. This Ordinance shall take effect thirty days after its final passage.

PASSED, APPROVED AND ADOPTED this the 7th Day of August, 2024. ___________________________
Bill Zimmerman, Mayor
Attest:
___________________________
Stephanie Roseen, Acting City Clerk
Approved as to form:
___________________________
Jeffrey T. Melching, City Attorney
Item Title: 11.5
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COMMUNITY FACILITIES DISTRICT NO. 2024-3 (RIVER WALK VILLAGE)

OF THE CITY OF MENIFEE

FUNDING AGREEMENT
THIS FUNDING AGREEMENT (the “Agreement”) is made and entered into by and between CITY OF MENIFEE (the “City”), acting for and on behalf of itself and COMMUNITY FACILITIES DISTRICT NO. 2024-3 (RIVER WALK VILLAGE) OF THE CITY OF MENIFEE (the “Community Facilities District” or “CFD”) and RICHMOND AMERICAN HOMES OF MARYLAND, INC., a Maryland corporation (the “Developer”), each individually a “Party” and collectively the “Parties.” WHEREAS, Developer has requested that the City consider the formation of a community facilities district pursuant to the provisions of the Mello-Roos Community Facilities Act of 1982, as amended (the “Act”), and undertake proceedings for the authorization of special taxes and issuance of bonded indebtedness for the payment of the construction and/or acquisition of certain improvements to be owned, operated or maintained by the City and the Menifee Union School District, and incidental expenses in accordance with the Act; and
WHEREAS, in order to proceed in a timely way with development of its property within the CFD which is described in the attached Exhibit “A” (the “Developer Property”), Developer desires to fund through the Community Facilities District (i) improvements included in the City’s fee programs (the “City Fee Facility Improvements”), as more particularly set forth and described in Exhibit “B,” and (ii) the improvements of the Menifee Union School District described in Exhibit “C” hereto (the “Miscellaneous Improvements” and together with the City Fee Facilities Improvements, collectively the “Improvements”); and
WHEREAS, the City is authorized by the Act to form the CFD and to issue bonds secured by Special Taxes (as defined in Section 2.2) of the CFD (the “Bonds”) to fund the Improvements; and WHEREAS, the City Council has adopted the City’s policies and procedures concerning the use of special district financing programs to finance the Improvements (the “Policy”); and WHEREAS, the purpose of this Agreement is to constitute a formal understanding between Developer and the City (pursuant to the requirements of the Act and the Policy) concerning financial and other obligations and responsibilities related to the formation of the Community Facilities District and the Improvements to be financed by the Community Facilities District, when and if formed, to the extent funds are available, and to set forth the conditions upon which (1) the Community Facilities District will fund the City Fee Facility Improvements thereby satisfying corresponding City fees; and (2) the Community Facilities District will also fund the Miscellaneous Improvements described in Exhibit “C.”
NOW, THEREFORE, it is mutually agreed between the respective Parties as follows:

1. Feasibility Study. The City has retained, at the Developer’s expense, the necessary consultants to analyze the proposed formation of the CFD to finance the Improvements, including a special tax consultant, bond counsel, and other consultants deemed necessary by the City. The Developer has advanced to the City a sum of money for such costs. From time to time, Developer will make additional advances, within 10 business days following receipt from the City of a request for an additional advance, to cover the costs of the formation proceedings and any change proceedings under Item Title: 11.5
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the Act requested by the Developer. The City will provide to Developer on request a summary of how the advances have been spent and the unexpended balance remaining. The amounts advanced by the Developer and, to the extent determined reasonable and appropriate by the City, expenses incurred by the Developer for engineering consultant costs in connection with the formation proceedings, any change proceedings and the issuance of Bonds, will be reimbursable to the Developer, without interest, from the Bonds. In the event that Bonds are not issued to provide a source of reimbursement to Developer, the City shall not have any liability to Developer to reimburse it for any of the amounts previously advanced by Developer and expended by the City.

Prior to the issuance of the Bonds, the City will request a final advance for any unpaid expenses incurred during preparatory technical, financial and legal work; and following payment of such expenses, the City shall promptly release the balance, if any, of the advance to the Developer. Should the City’s expenses exceed the remaining balance, the City will bill the Developer for the difference, which the Developer agrees to pay within 10 days following receipt of such billing, subject to the conditions of paragraph one of this section.

2. Sale of Bonds.

2.1 City Policies. The City Council has adopted the Policy, setting forth the City’s policies and procedures concerning the use of special district financing programs to finance the Improvements. Pursuant to the Policy, the total annual amount of the special taxes to be collected with respect to a parcel within the CFD and all other taxes and assessments which will be collected with respect to such parcel from the secured tax roll must not exceed two percent (2%) of the Fair Market Value (as defined in the Policy) of such parcel at the time of CFD formation.

The Parties hereby agree that, unless waived by the City, at the time of issuance of the Bonds the ratio of the value of all parcels of property within the CFD to the amount of outstanding community facilities district or assessment district bonds attributable to such parcels (the “Value-to-Lien Ratio”) may not be less than four-to-one (4:1). Unless waived by the City, the Fair Market Value of the property within the CFD for purposes of determining the foregoing ratio will be determined based on the appraised value of the property based on the appraisal made by an appraiser selected by the City with a valuation date within three (3) months of the issuance of the Bonds, or, with respect to developed projects (as determined in the sole discretion of the City) or issuance of refunding bonds, the assessed value of the property, or some combination thereof. Subject to satisfaction of the Policy and the requirements of this Agreement, the City shall use reasonable efforts to issue and sell the Bonds in one or more series in an amount sufficient to fund the Improvements in accordance with the schedule for development of the Developer Property. The ultimate decision as to issuance and sizing lies in the sole legislative discretion of the City.

2.2 Security for Payment of Special Taxes.
(a) Concurrently with the issuance and sale of each series of the Bonds, the owner of any land within the CFD which the City has determined, in its sole discretion, to use in the sizing of such series of Bonds (the “Sizing Property”), together with any Sizing Property owned by any affiliate (collectively, an “Account Party”), for which the Maximum Special Taxes for the then-current fiscal year (as defined in the Rate and Method of Apportionment of Special Tax for the CFD (“Rate and Method”) and such Special Tax referred to herein as the “Special Tax” or “Special Taxes”), are equal to or exceed 20% of the aggregate Maximum Special Taxes authorized to be levied on the Sizing Property in such fiscal year, shall deliver to the City either (i) a renewable irrevocable instrument of Item Title: 11.5
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credit from a financial institution (rated “A” or better, or otherwise approved by the City) and approved by the City, or (ii) cash in-lieu thereof (a “Security”). The Security shall be in an amount equal to 200% of the product of the maximum annual debt service on the Bonds proposed to be issued times a fraction the numerator of which is the aggregate Maximum Special Taxes on the Sizing Property in the then current fiscal year or the following fiscal year (whichever is greater) applicable to the land owned by the Account Party and the denominator of which is the total Maximum Special Taxes applicable to all of the Sizing Property in such fiscal year (the “Stated Amount”). The Security shall be maintained by the Account Party in each fiscal year until terminated in accordance with Section 2.2(c) below. While the Security is still required the Stated Amount of such Security shall be reduced as set forth in a Certificate of Reduction or Termination (as defined in Section 2.2(c) below).

The Security shall name the Fiscal Agent as a beneficiary and shall provide that the Fiscal Agent may draw an amount equal to any delinquencies in payment of semiannual installments of the Special Taxes levied on property owned by the Account Party. The total amount to be drawn under the Security shall not exceed an amount equal to the Special Taxes owed by the Account Party that is delinquent at the time the draw is made. The amount drawn on the Security shall be applied in the same manner and for the same purposes as the delinquent Special Taxes would have been applied; provided, however the payment of a draw under the Security will not be deemed to cure the delinquency in payment of the Special Taxes.

If, subsequent to a draw on the Security and prior to the satisfaction of any reimbursements due to the institution providing the Security (the “Security Provider”) pursuant to this Agreement, the City receives payment of all or a portion of the delinquent Special Taxes or the proceeds of a sale of delinquent real property pursuant to foreclosure proceedings (“Delinquency Proceeds”) for a parcel for which the Security has been drawn, the Security Provider (or its designee, which may be the Developer) shall be reimbursed for such draws to the extent of Delinquency Proceeds net of the City’s costs of collection. The Security Provider is intended by the Parties to be a third party beneficiary of this Section 2.2.
(b) The Security shall be renewed, or a substitute Security reasonably satisfactory to the City (a “Substitute Security”) provided, not less than thirty (30) calendar days prior to the expiration of the Security or Substitute Security then in effect. If the Account Party provides a Substitute Security to the City, then the Fiscal Agent shall return any existing Security on the effective date of the Substitute Security to the Security Provider.

If the Security is not renewed within thirty (30) days prior to its expiration date and the requirements for release or termination of the Security as set forth in Section 2.2(c) below have not then been met, the full amount of the Security may be drawn by the Fiscal Agent and deposited in an account established under the Indenture (as hereinafter defined) or in such account established with a financial institution selected by the City. Thereafter, amounts in such account shall be held as security, and if Special Taxes owed by the Account Party are not paid prior to delinquency, then such amounts in such account may be applied by the City to pay the delinquent Special Taxes owed by the Account Party with respect to such property on the same terms and conditions applicable hereunder to draws on the Security.

At such time as the Security is renewed, or a Substitute Security is accepted by the Fiscal Agent, or the requirement for the Security has been terminated pursuant to this section, the City or its designee, shall release all amounts in the Security account to the Security Provider (or its Item Title: 11.5
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designee, which may be the Developer) within ten (10) calendar days from the date of renewal or acceptance.
(c) Following the sale or transfer by the Account Party of any property to a person other than the Account Party, or upon the prepayment of the Special Tax obligation for a parcel owned by the Account Party, the Account Party shall notify the Community Facilities District of such event, in writing, and, if requested by the Account Party, the Stated Amount of the Security shall be reduced and be recalculated in accordance with this Section 2.2; provided, however, that any costs associated with the recalculation and reduction shall be borne by the Account Party. Subject to Section 2.2(d) below, the Stated Amount may be reduced to an amount equal to 200% of the product of the maximum annual debt service on the outstanding Bonds times a fraction the numerator of which is the aggregate Maximum Special Taxes applicable to the Sizing Property owned by the Account Party and the denominator of which is the total Maximum Special Taxes to all of the Sizing Property as of the date of calculation. The Security shall be terminated when the Account Party has paid all Special Taxes owed by the Account Party in the current fiscal year and the Sizing Property owned by the Account Party is expected to be responsible for less than 20% of the Maximum Special Taxes in the next fiscal year.

Reduction or termination of a Security shall occur automatically upon submission to the Security Provider by the Fiscal Agent of a “Certificate of Reduction or Termination” upon valuation of the Certificate of Reduction or Termination by the City. The City shall direct that the Fiscal Agent deliver to the Security Provider such Certificate of Reduction or Termination promptly upon receiving from the Account Party a certification which shall be made under penalty of perjury and which shall indicate (i) the legal description of all Sizing Property owned by the Account Party, and either (ii) a recalculation of the new Stated Amount that the Account Party proposes be applicable to the Security or (iii) if termination of the Security is requested, a statement that one of the requirements set forth in the preceding paragraph for termination of the Security has been satisfied.

The Account Party shall notify the City of any events that will result in a reduction of the Stated Amount of the Security and shall provide the City with verification of said events. The Account Party may provide the Fiscal Agent with a Substitute Security in the reduced amount, and the Fiscal Agent shall release and return to the Security Provider the Security then in effect. The Parties expressly acknowledge that the Account Party’s failure to so notify the City or to reduce the Security at the times prescribed herein shall in no way effect or invalidate sale or transfer of property, or recordation of maps on property.
(d) If any Sizing Property is sold or transferred by an Account Party with the result that the Sizing Property owned by the transferee together with any of its affiliates (“Transferee”) is responsible for 20% or more of the aggregate Maximum Special Taxes of all Sizing Property, a Security on the same terms specified in Section 2.2(a) above will be furnished by Transferee with respect to all Sizing Property owned by such Transferee. Any applicable purchase and sale agreement and/or escrow instructions shall notify the Transferee of this Security requirement and obligate the Transferee to provide such Security, if applicable. The Security of the Account Party will not be reduced to reflect the sale or transfer of such Sizing Property until a Security is furnished by the Transferee and accepted by the Fiscal Agent. The issuing financial institution and the form and terms of said Security will be subject to reasonable prior approval by the City. All terms provided in this Section 2.2 are applicable to the Transferee by replacing the term “Account Party” at each place where it occurs in each section with the term “Transferee.” Each provider of a Security for a Transferee shall be an express third party beneficiary of the provisions of this Section 2.2.

Item Title: 11.5
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Any costs related to holding or maintaining the Security, including any fees of a fiscal agent, trustee or other depository shall be borne by the Account Party.

2.3 Major Landowner Initial and Continuing Disclosure. An owner of land which is responsible for twenty percent (20%) or more of the Maximum Special Taxes applicable to the Sizing Property in the fiscal year in which the Bonds are issued or in the fiscal year following the fiscal year in which the Bonds are issued (a “Major Landowner”) will be required to provide all information regarding the development of its property, including the financing plan for such development, which is necessary to ensure that the official statement for such Bonds complies with the requirements of Rule 15c2-12 and Rule 10b-5 of the Securities and Exchange Commission (the “Rule”) and all other applicable federal and state securities laws. Additionally, Developer acknowledges that, if it is a Major Landowner at the time of issuance of the Bonds, it will be necessary that Developer enter into a continuing disclosure agreement to provide such continuing disclosure pertaining to the development of the land owned by Developer within the CFD to assist in the marketing of the Bonds.

2.4 Bond Issuance Parameters. The terms and conditions upon which each series of the Bonds shall be issued and sold, the method of sale of the Bonds and the pricing of the Bonds shall be determined solely by the City in its legislative discretion in conformance with the Act, the Policy, and this Agreement. Each series of Bonds shall be issued with a term not to exceed 35 years from the date of issuance of the Bonds. The proceeds of the Bonds shall be used in the following priority to (1) fund a reserve fund for the payment of principal and interest with respect to the Bonds in an amount equal to the least of (i) ten percent (10%) of the total bond issue, (ii) maximum annual debt service on Bonds, or (iii) 125% of average annual debt service; (2) fund capitalized interest through the interest payment date on the Bonds for which Special Taxes are not available for payment of debt service on the Bonds or such longer period as requested by the Developer and approved by the City, subject to the Act; (3) reimburse the Developer or its designee pursuant to Section 1 hereof for CFD formation costs advanced by the Developer pursuant to the Reimbursement Agreement which have not already been reimbursed to the Developer from collected Special Tax; (4) pay for costs of issuance of the Bonds including, without limitation, underwriter’s discount, bond counsel and disclosure counsel fees, appraisal and special tax consultant fees, printing, fiscal agent fees, and reasonable Developer legal and financial consultant costs; (5) pay for the costs of forming the Community Facilities District; and (6) pay for the actual costs of the Improvements. The Community Facilities District shall maintain records relating to the disbursements of proceeds of the sale of the Bonds. The Indenture or Resolution or Fiscal Agent Agreement (hereinafter “Indenture”) for the Bonds shall establish an acquisition and construction fund or improvement fund (herein, the “Improvement Fund”) to be held by the fiscal agent (“Fiscal Agent”) into which shall be deposited initially the proceeds of the Bonds net of the amount of proceeds required to fund items (1) through (5) in the second preceding sentence. The Indenture shall also establish separate accounts of the Improvement Fund designated the “City Fee Facility Improvements Account,” and any Miscellaneous Improvement Account(s) for the Miscellaneous Improvements described in Exhibit “C,” into which shall be deposited such portions of the Improvement Fund as agreed by the Parties and directed by the City in writing at or subsequent to the closing of the sale of the Bonds consistent with the following priorities:
(b) An amount sufficient to fund the reasonable, current estimated cost of the City Fee Facility Improvements anticipated to be funded out of the Bonds being issued shall be deposited in the City Fee Facility Improvements Account (any Special Taxes levied in the CFD and collected by the CFD remaining after the payment of administrative expenses of the CFD and the reimbursement of the Developer for CFD formation costs pursuant to Section 1 hereof shall be deposited into the City Item Title: 11.5
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Fee Facility Improvements Account at the time of Bond issuance, unless otherwise directed in writing by the Developer); and
(b) If applicable, an amount to be agreed upon between Developer and the CFD prior to the issuance of Bonds sufficient to fund the reasonable, current estimated cost of the Miscellaneous Improvements described in Exhibit “C” hereto, anticipated to be funded out of the Bonds being issued shall be deposited, or later transferred, to the applicable Miscellaneous Improvement Account(s).

Interest earned on moneys deposited in each of the City Fee Facility Improvements Account and the Miscellaneous Improvement Account(s) shall remain in such accounts until such time as all of the Improvements have been funded. Additionally, the Developer may direct the CFD to transfer excess moneys in any of the City Fee Facility Improvements Account or the Miscellaneous Improvement Account(s) to another Account. The Indenture shall provide that amounts remaining in the Improvement Fund after funding all proposed Improvements (such completion of funding to be agreed by the City and the Developer) shall be deposited in the special tax fund or bond service fund and be applied to pay debt service on the Bonds and/or to call Bonds in advance of maturity.

3. Allocation of Special Taxes. Prior to the issuance of Bonds, the City Council of the City, acting as the legislative body of the Community Facilities District, may levy Special Taxes on all parcels classified as Developed Property pursuant to the Rate and Method. Such Special Taxes collected by the City shall first be applied to fund annual administrative expenses of the Community Facilities District and then to fund Improvements in the same manner as the proceeds of Bonds as set forth herein. Upon sale and delivery of the Bonds, the City shall annually levy the Special Tax as provided for in documents pursuant to which the Bonds were issued. Following the issuance of the last series of Bonds, the City shall have no obligation to levy Special Taxes to reimburse the Developer for the costs of any Improvements not paid for from Bond proceeds.

4. Notice of Special Tax. Developer shall provide written notice to all potential initial purchasers of lots advising of the special tax obligation applicable to the Developer Property in the form required by Section 53341.5 of the Government Code.

5. City Fee Facility Improvements. The Developer may be required pursuant to the conditions of development or the fee ordinance to pay certain City fees (the “City Fees”) relating to the City Fee Facility Improvements prior to the availability of proceeds of the Bonds to pay for such City Fee Facility Improvements. In the event such City Fees are paid prior to the availability of Bond proceeds, the amounts paid to the City shall be deemed to be deposits (each a “Deposit”) that are subject to refund by the City to the Developer in accordance with this Agreement. The City shall place each Deposit in a capital facilities account(s). If the Developer has made any Deposits to the City, then following deposit of Bond proceeds in the City Fee Facility Improvements Account, the City shall return to the Developer, from the capital account in which the Deposits were deposited the Deposits not previously returned, without interest or other earnings thereon. The City shall be so obligated to return such Deposits only to the extent that an equivalent amount of the Deposits to be returned is deposited in the City Fee Facility Improvements Account from Bond proceeds or Special Tax collections prior to the issuance of Bonds.

Bond proceeds used to finance City Fee Facility Improvements which relate to the City Fees shall be allocated first for return of all Deposits prior to being allocated to the payment of City Fees not previously deposited by the Developer. Any Deposits that have not been returned to the Developer Item Title: 11.5
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at the time it is determined that there will be no further Bond proceeds available (i.e. the final series of Bonds to finance the Improvements have been issued) shall be retained by the City and may be used for the purposes for which the City Fee was required, and the unrefunded Deposits shall constitute full and final payment for such City Fees, without any increase of any kind.

6. Miscellaneous Improvements. Improvements unrelated to the City Fee Facility Improvements are described in Exhibit “C” attached hereto. The amounts deposited in the applicable Miscellaneous Improvement Account(s), if any, will be disbursed for the acquisition or construction of Miscellaneous Improvements in accordance with the provisions in the applicable Joint Community Facilities Agreement. Any amounts in the applicable Miscellaneous Improvement Account(s) shall be disbursed at the written direction of the City upon Developer’s submittal of a payment request which will be based upon applicable entity’s payment request form as provided for in the applicable Joint Community Facilities Agreement. Upon receipt of such payment request, the City shall submit a written requisition for payment of the requested amount to the Fiscal Agent for the Bonds, who shall directly pay the amount requested to the applicable entity.

7. Independent Contractor. In performing this Agreement, Developer is an independent contractor and not the agent of the City. The City shall not have any responsibility for payment to any contractor or supplier of Developer. It is not intended by the Parties that this Agreement create a partnership or joint venture among them and this Agreement shall not otherwise be construed.

8. Indemnification. Developer shall assume the defense of, indemnify and save harmless, the City, its officers, employees and agents, and the Community Facilities District, its officers, employees and agents, from and against all actions, damages, claims, losses or expenses of every type and description to which they may be subject or put, by reason of, or resulting from such person’s or entity’s performance of its obligations under this Agreement and the construction of the Miscellaneous Improvements, the failure of the Developer to provide notice of the Special Tax to be levied by the Community Facilities District pursuant to Section 53341.5 of the Act (but only if the Developer is required by law to provide such notice), or arising out of any alleged misstatements of fact or alleged omission of a material fact made by the Developer, its officers, directors, employees or agents to the City, the Community Facilities District, the underwriter of the Bonds and its counsel, the appraiser, the special tax consultant, the market absorption consultant or bond counsel regarding the Developer, its proposed developments, its property ownership, and any contractual arrangement it may enter into in a disclosure document describing the Community Facilities District and the risks relating to the Bonds. No provision of this Agreement shall in any way limit the extent of Developer’s responsibility for payment of damages resulting from the operations of Developer and its contractors; provided, however that Developer shall not be required to assume the defense or indemnify and save harmless any person or entity as to actions, damages, claims, losses or expenses resulting from their breach of this Agreement, the willful misconduct of such person or entity or their officers, agents, consultants or employees.

9. Conflict With Other Agreements. Except as specifically provided herein, nothing contained herein shall be construed as releasing Developer from any condition of development or requirement imposed by any other agreement with City. In the event of a conflicting provision, such other agreement shall prevail unless such conflicting provision is specifically waived or modified in writing by City.

10. Notices. Any notice, payment or instrument required or permitted by this Agreement to be given or delivered to either Party shall be deemed to have been received when personally Item Title: 11.5
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delivered or seventy-two (72) hours following deposit of the same in any United States Post Office in California, registered or certified, postage prepaid. Any notice to the Community Facilities District or the City shall be addressed to City of Menifee, 29844 Haun Road, Menifee, CA 92586, Attention:

Chief Financial Officer. Any notice to Developer shall be addressed to Richmond American Homes of Maryland, Inc., 391 Main Street, Suite 205, Corona, CA 92880, Attention: Edgar Gomez.

Each Party may change its address for delivery of notice by delivering written notice of such change of address to the other Party hereto.

11. No Gift or Waiver. The Developer and the City acknowledge that:
(a) Prior to the availability of funds from the proceeds of Bonds, the Developer or its predecessor may have been or may be required to deposit funds to assure payment of applicable City Fees of the City.
(b) The Developer or its predecessor has deposited or will be depositing such funds with the expectation that the Developer will be reimbursed for these Deposits to the extent and in the manner set forth in this Agreement.
(c) The reimbursement of such Deposits pursuant to Section 8 of this Agreement may occur from time to time, in any number of installments and irrespective of the length of time payment is deferred, as funds become available.
(d) The Developer’s deposit of such funds to the City before the availability of funds to reimburse the Developer is not, and shall not be deemed, a gift or a waiver of the Developer’s right to reimbursement of such Deposits pursuant to this Agreement.

12. General Provisions.
(a) Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the City and the Developer and their respective heirs, executors, legal representatives, successors, and authorized assigns.
(b) Amendment. This Agreement may be amended at any time but only in writing signed by each Party hereto.
(c) Entire Agreement. This Agreement, and the agreements referenced herein, contains the entire understanding and agreement between the Parties with respect to the matters provided for herein and supersedes all prior agreements and negotiations between the Parties with respect to the subject matter of this Agreement. There are no oral or written representations, understanding, undertakings or agreements which are not contained or expressly referred to herein, and any such representations, understandings or agreements are superseded by this Agreement. Failure by a Party to insist upon the strict performance of any of the provisions of this Agreement by the other Parties hereto, or the failure by a Party to exercise its rights upon the default of another Party, shall not constitute a waiver of such Party’s right to insist and demand strict compliance by such other Parties with the terms of this Agreement thereafter. This Agreement shall be binding upon, and enforceable by and against the Community Facilities District upon the establishment of the Community Facilities District.

Item Title: 11.5
Ordinance Introduction and Formation of Community Facilities District No. 2024-3, River Walk Village by Richmond American Homes of Maryland
Item Page Number: 8
Menifee Mayor and City Council August 7, 2024 Page 1400 of 1560 9 4866-0240-5581v4/200299-0024
(c) Exhibits. All exhibits attached hereto are incorporated into this Agreement by reference.
(d) Severability. If any part of this Agreement is held to be illegal or unenforceable by a court of competent jurisdiction, the remainder of this Agreement shall be given effect to the fullest extent reasonably possible.
(e) Waiver. Failure by a Party to insist upon the strict performance of any of the provisions of this Agreement by the other Parties hereto, or the failure by a Party to exercise its rights upon the default of another Party, shall not constitute a waiver of such Party’s right to insist and demand strict compliance by such other Parties with the terms of this Agreement thereafter. (f) No Third Party Beneficiaries. Except as provided explicitly in this Agreement, no person or entity shall be deemed to be a third party beneficiary hereof, and nothing in this Agreement (either express or implied) is intended to confer upon any person or entity, other than the City, the Community Facilities District, the Developer, and the Security Provider (and their respective successors and assigns), any rights, remedies, obligations or liabilities under or by reason of this Agreement.
(g) Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which shall constitute but one instrument. (h) Assignment. Developer may assign all or any of its rights pursuant to this Agreement to a purchaser of all or any portion of the Developer Property. Such a purchaser and assignee shall, as a condition to taking an assignment of such rights, enter into an assignment and assumption agreement with the City and Developer, in a form reasonably acceptable to Developer and the City, whereby such rights assigned are specified and such purchaser agrees, except as may be otherwise specifically provided therein, to assume the obligations of Developer pursuant to this Agreement and to be bound thereby. A company that acquires all of the assets of the Developer, including ownership of the Developer itself, shall be deemed a successor and shall not require an assignment or assumption agreement to be bound by, and enjoy the benefits of, this Agreement. (i) Governing Law. This Agreement and any dispute arising hereunder shall be governed by and interpreted in accordance with the laws of the State of California. (j) Construction of Agreement. This Agreement has been reviewed by legal counsel for both the City and Developer and shall be deemed for all purposes to have been jointly drafted by the City and Developer. No presumption or rule that ambiguities shall be construed against the drafting Party shall apply to the interpretation or enforcement of this Agreement. (k) Termination. The provisions of this Agreement related to the financing of the Improvements shall terminate and be of no further force or effect if the first series of Bonds for the CFD are not sold within ten years from the date of this Agreement unless extended by agreement of all the Parties. If the City is unable to sell the first series of Bonds for the CFD after diligent, commercially reasonable efforts to do so, this Agreement shall terminate and be of no further force and effect; provided, however, in such event, any collected Special Taxes remaining after the payment of administrative expenses of the CFD and reimbursement to the Developer of CFD formation costs shall be used to pay for Improvements in accordance with this Agreement and Developer shall receive Item Title: 11.5
Ordinance Introduction and Formation of Community Facilities District No. 2024-3, River Walk Village by Richmond American Homes of Maryland
Item Page Number: 9
Menifee Mayor and City Council August 7, 2024 Page 1401 of 1560 10 4866-0240-5581v4/200299-0024
a credit against City Fees otherwise payable to City in the amount so used to pay for City Fee Facility Improvements.
(m) Attorneys’ Fees. In the event of any action or proceeding, including an arbitration or a reference pursuant to Section 638 et seq., of the Code of Civil Procedure brought by any Party against any other under this Agreement, the prevailing Party shall be entitled to recover its actual attorneys’ fees and all fees, costs and expenses incurred for prosecution, defense, consultation, or advice in such action or proceeding. In addition to the foregoing, the prevailing Party shall be entitled to its actual attorneys’ fees and all fees, costs and expenses incurred in any post-judgment proceedings to collect or enforce the judgment. This provision is separate and several and shall survive the merger of this Agreement into any judgment on this Agreement. (n) Venue and Forum. Any action at law or in equity arising under this Agreement brought by any Party hereto for the purpose of enforcing, construing or determining the validity of any provision of this Agreement shall be filed and tried in the Superior Court of the County of Riverside, State of California, and the Parties waive all provisions of law providing for the filing removal or change of venue to any other Court.

Item Title: 11.5
Ordinance Introduction and Formation of Community Facilities District No. 2024-3, River Walk Village by Richmond American Homes of Maryland
Item Page Number: 10
Menifee Mayor and City Council August 7, 2024 Page 1402 of 1560 11 4866-0240-5581v4/200299-0024
IN WITNESS WHEREOF, the Parties have executed this Agreement as of the day and year written below.

DATED: August 7, 2024
CITY OF MENIFEE, a political subdivision of
the State of California
By:

Armando G. Villa, City Manager
ATTEST:

By:

Stephanie Roseen, Acting City Clerk
APPROVED AS TO FORM:

CITY ATTORNEY FOR THE CITY OF

MENIFEE
By:

Jeffrey T. Melching, City Attorney

RICHMOND AMERICAN HOMES OF
MARYLAND, INC.,
A Maryland corporation
By:

Name:

Title:

Item Title: 11.5
Ordinance Introduction and Formation of Community Facilities District No. 2024-3, River Walk Village by Richmond American Homes of Maryland
Item Page Number: 11
Menifee Mayor and City Council August 7, 2024 Page 1403 of 1560 4866-0240-5581v4/200299-0024

LIST OF EXHIBITS

EXHIBIT A - DESCRIPTION OF DEVELOPER PROPERTY

EXHIBIT B - DESCRIPTION OF COST ESTIMATES

EXHIBIT C - MISCELLANEOUS IMPROVEMENTS

EXHIBIT D - DISBURSEMENT REQUEST FORM
Item Title: 11.5
Ordinance Introduction and Formation of Community Facilities District No. 2024-3, River Walk Village by Richmond American Homes of Maryland
Item Page Number: 12
Menifee Mayor and City Council August 7, 2024 Page 1404 of 1560 A-1
4866-0240-5581v4/200299-0024

EXHIBIT A

DESCRIPTION OF DEVELOPER PROPERTY
Real property in the City of Menifee, County of Riverside, State of California, described as follows:

County of Riverside Assessor Parcel Nos. 338-150-046 and 338-150-031.

Item Title: 11.5
Ordinance Introduction and Formation of Community Facilities District No. 2024-3, River Walk Village by Richmond American Homes of Maryland
Item Page Number: 13
Menifee Mayor and City Council August 7, 2024 Page 1405 of 1560 B-1
4866-0240-5581v4/200299-0024

EXHIBIT B
DESCRIPTION OF COST ESTIMATES OF THE IMPROVEMENTS (1)

CITY FEE FACILITY IMPROVEMENTS
Estimated Cost of the City Fee Facility Improvements
Description Estimated Cost
Law Enforcement $ 183,150
Fire Facilities 128,106
Circulation 1,405,206
Circulation Credit (123,900)
General Government 232,848
Parks – Land 341,154
City Projects (20% Premium) 433,313
Total City Fees Facility Improvements $ 2,599,877
(1) Amounts are estimates and subject to change.

Item Title: 11.5
Ordinance Introduction and Formation of Community Facilities District No. 2024-3, River Walk Village by Richmond American Homes of Maryland
Item Page Number: 14
Menifee Mayor and City Council August 7, 2024 Page 1406 of 1560 C-1
4866-0240-5581v4/200299-0024

EXHIBIT C

DESCRIPTION OF THE MISCELLANEOUS IMPROVEMENTS
Menifee Union School District Improvements included in the Menifee Union School District’s development fee programs used to finance Menifee Union School District Improvements, in approximately the following amount:

Estimated Cost of the Menifee Union School District Improvements Description Estimated Cost
Menifee Union School District Fees $1,139,235
Premium (125% of Statutory Fee) 284,809
Total Menifee Union School District Fees $1,424,044
Item Title: 11.5
Ordinance Introduction and Formation of Community Facilities District No. 2024-3, River Walk Village by Richmond American Homes of Maryland
Item Page Number: 15
Menifee Mayor and City Council August 7, 2024 Page 1407 of 1560 D-1
4866-0240-5581v4/200299-0024

EXHIBIT D
CFD NO. 2024-3 (RIVER WALK VILLAGE) OF THE CITY OF MENIFEE

DISBURSEMENT REQUEST FORM

1. Community Facilities District No. 2024-3 (River Walk Village) of City of Menifee (the “CFD”) is hereby requested to pay from the ________________________ Account, or any applicable account or sub-account thereof, established by the CFD in connection with its 20__ Special Tax Bonds (the “Bonds”) to City of Menifee (the “City”) as payee, the sum set forth below:
$_____________________ (the Requested Amount”)

2. The Requested Amount represents the payment of City Fees for ___ lot(s) within the boundaries of the CFD (the “Property”).
(Tract No. __________, Lot Nos. ________________).

3. The Requested Amount is due and payable, has not formed the basis of any prior request or disbursement.

4. The City, as payee, is hereby directing payment of the Requested Amount be payable to Richmond American Homes of Maryland, Inc., a Maryland corporation (the “Developer”), pursuant to the wiring instructions attached hereto.

5. The Requested Amount is authorized and payable pursuant to the terms of the certain Funding Agreement (the “Agreement”) between the City of Menifee, acting for and on behalf of itself and the CFD and Developer.

6. Capitalized undefined terms used herein shall have the meaning ascribed to them in the Agreement.

Item Title: 11.5
Ordinance Introduction and Formation of Community Facilities District No. 2024-3, River Walk Village by Richmond American Homes of Maryland
Item Page Number: 16
Menifee Mayor and City Council August 7, 2024 Page 1408 of 1560 D-2
4866-0240-5581v4/200299-0024
Dated: DEVELOPER:

RICHMOND AMERICAN HOMES OF
MARYLAND, INC.,
a Maryland corporation
By:

Name:

Title:

Dated: CITY OF MENIFEE
By:

Its:
[ATTACH WIRING INSTRUCTIONS]
Item Title: 11.5
Ordinance Introduction and Formation of Community Facilities District No. 2024-3, River Walk Village by Richmond American Homes of Maryland
Item Page Number: 17
Menifee Mayor and City Council August 7, 2024 Page 1409 of 1560 Item Title: 11.5
Ordinance Introduction and Formation of Community Facilities District No. 2024-3, River Walk Village by Richmond American Homes of Maryland
Item Page Number: 1
Menifee Mayor and City Council August 7, 2024 Page 1410 of 1560

CITY OF MENIFEE
SUBJECT: Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1,
Maintenance Services
MEETING DATE: August 7, 2024
TO: Mayor and City Council
PREPARED BY: Kristen Jensen, Financial Analyst
REVIEWED BY: Nick Fidler, Public Works Director
APPROVED BY: Armando G. Villa, City Manager
-------------------------------------------------------------------------------------------------------------------------------

RECOMMENDED ACTION

1. Adopt a resolution calling an election to annex territory, including Tract No. 31194, located west of I-215 at the southeast corner of the intersection of Garbani Road and Evans Road, into City of Menifee Community Facilities District (CFD) No. 2017-1 (Maintenance Services) and to levy a special tax on that land; and

2. Hold a special landowner election and canvass the election; and

3. Adopt a resolution declaring results of special landowner election; and

4. Introduce an ordinance, amending Ordinance No. 2017-231 and levying and apportioning the special tax in CFD 2017-1.

DISCUSSION
On June 19, 2024, the City Council adopted Resolution No. 24-1443, declaring its intent to annex territory to CFD No. 2017-1 and commence the annexation proceedings for the territory to be annexed, also known as Annexation No. 11. The next step in the annexation proceedings is to hold a public hearing to conduct an election for the landowners and to declare the results of that election.

The area within Annexation No. 11 is included in Tract No. 31194 and is approximately 195.38 gross acres of vacant property within the City. The property is located west of I-215 at the southeast corner of the intersection of Garbani Road and Evans Road, as shown in the attached project location map. The proposed maintenance services would include items such as lighting, street maintenance, drainage, parks, and graffiti abatement.

Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 1
Menifee Mayor and City Council August 7, 2024 Page 1411 of 1560 City of Menifee Staff Report
CFD 2017-1, Annex 11 - Golden Meadows
August 7, 2024

Per the request of Golden Meadowland, LLC, and Golden Hill Country, LLC (“Owners”), the City would establish a rate and method of apportionment and authorize the levy of special taxes on the taxable property within Annexation Area No. 11, Tax Zone 11 to pay for those services.

Annexation Area No. 11 would have a maximum annual tax of $913 per unit. The maximum annual tax rate is proposed to escalate each year at the greater of Consumer Price Index (CPI) or 2%. The attached CFD Maintenance Site Plan Exhibit illustrates which services would be maintained by the CFD.

The Owner submitted a "Consent and Waiver" form on file in the City Clerk's Office to:
• hold the election and declare election results; and
• consent to the shortening of election time requirements; and • waive analysis and arguments; and
• waive all notice requirements relating to the conduct of the election immediately following the public hearing.

A copy of the boundary map entitled "Annexation Map No. 11, Community Facilities District No. 2017-1 (Maintenance Services)" was recorded on June 24, 2024, in Book 93 of Maps of Assessment and Community Facilities Districts at Page 37, in the office of the Riverside County Recorder. Annexing the parcel into CFD No. 2017-1 would cover the costs of maintenance of certain public improvements associated with the development.

STRATEGIC PLAN OBJECTIVE
Thriving Economy

FISCAL IMPACT
The individual property owners in the CFD would be responsible for annual payments of special taxes. Upon full completion of the tract development, there would be an annual collection of Special Tax revenues of approximately $503,618 to be used to pay for maintenance costs.

On June 1 of each year, every taxable unit for which a building permit has been issued within the boundaries of the CFD, would be subject to the special tax for the ensuing Fiscal Year. If the anticipated costs of maintaining the facilities in any given Fiscal Year, prior to buildout of the project, exceeds the special tax revenues available from parcels for which building permits have been issued, then the special tax may also be applied to property within recorded final subdivision maps, as well as other undeveloped property within the boundaries of the CFD.

All costs associated with annexation into the CFD have been borne by the Developer. By annexing into the CFD, the costs of maintaining improvements located within the development would be financed through special taxes levied on the parcels within CFD No. 2017-1 and not through the City’s General Fund.

Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 2
Menifee Mayor and City Council August 7, 2024 Page 1412 of 1560 City of Menifee Staff Report
CFD 2017-1, Annex 11 - Golden Meadows
August 7, 2024

ATTACHMENTS

1. Project Location Map

2. Resolution Calling the Election

3. Resolution Declaring Election Results

4. Certificate of Registered Voters

5. Ordinance

6. Signed Petition, Waiver and Consent for Annexation

7. Maintenance Site Plan Exhibit
Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 3
Menifee Mayor and City Council August 7, 2024 Page 1413 of 1560 Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services Menifee Mayor and City Council August 7, 2024 Page 1414 of 1560 Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 1
Menifee Mayor and City Council August 7, 2024 Page 1415 of 1560 Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 2
Menifee Mayor and City Council August 7, 2024 Page 1416 of 1560 Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 3
Menifee Mayor and City Council August 7, 2024 Page 1417 of 1560 Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 4
Menifee Mayor and City Council August 7, 2024 Page 1418 of 1560 Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 5
Menifee Mayor and City Council August 7, 2024 Page 1419 of 1560 Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 6
Menifee Mayor and City Council August 7, 2024 Page 1420 of 1560 Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 7
Menifee Mayor and City Council August 7, 2024 Page 1421 of 1560 Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 8
Menifee Mayor and City Council August 7, 2024 Page 1422 of 1560 Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 9
Menifee Mayor and City Council August 7, 2024 Page 1423 of 1560 Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 10
Menifee Mayor and City Council August 7, 2024 Page 1424 of 1560 Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 11
Menifee Mayor and City Council August 7, 2024 Page 1425 of 1560 Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 12
Menifee Mayor and City Council August 7, 2024 Page 1426 of 1560 Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 13
Menifee Mayor and City Council August 7, 2024 Page 1427 of 1560 Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 14
Menifee Mayor and City Council August 7, 2024 Page 1428 of 1560 Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 15
Menifee Mayor and City Council August 7, 2024 Page 1429 of 1560 Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 16
Menifee Mayor and City Council August 7, 2024 Page 1430 of 1560 Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 17
Menifee Mayor and City Council August 7, 2024 Page 1431 of 1560 Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 18
Menifee Mayor and City Council August 7, 2024 Page 1432 of 1560 Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services Menifee Mayor and City Council August 7, 2024 Page 1433 of 1560 Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services Menifee Mayor and City Council August 7, 2024 Page 1434 of 1560 Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 21
Menifee Mayor and City Council August 7, 2024 Page 1435 of 1560 Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 22
Menifee Mayor and City Council August 7, 2024 Page 1436 of 1560 Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 23
Menifee Mayor and City Council August 7, 2024 Page 1437 of 1560 Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 1
Menifee Mayor and City Council August 7, 2024 Page 1438 of 1560 Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 2
Menifee Mayor and City Council August 7, 2024 Page 1439 of 1560 Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 3
Menifee Mayor and City Council August 7, 2024 Page 1440 of 1560 Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 4
Menifee Mayor and City Council August 7, 2024 Page 1441 of 1560 Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 5
Menifee Mayor and City Council August 7, 2024 Page 1442 of 1560 Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 1
Menifee Mayor and City Council August 7, 2024 Page 1443 of 1560 Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 1
Menifee Mayor and City Council August 7, 2024 Page 1444 of 1560 Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 2
Menifee Mayor and City Council August 7, 2024 Page 1445 of 1560 Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 3
Menifee Mayor and City Council August 7, 2024 Page 1446 of 1560 Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 4
Menifee Mayor and City Council August 7, 2024 Page 1447 of 1560 Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 5
Menifee Mayor and City Council August 7, 2024 Page 1448 of 1560 Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 6
Menifee Mayor and City Council August 7, 2024 Page 1449 of 1560 Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 7
Menifee Mayor and City Council August 7, 2024 Page 1450 of 1560 Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 8
Menifee Mayor and City Council August 7, 2024 Page 1451 of 1560 Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 9
Menifee Mayor and City Council August 7, 2024 Page 1452 of 1560 Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 10
Menifee Mayor and City Council August 7, 2024 Page 1453 of 1560 Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 11
Menifee Mayor and City Council August 7, 2024 Page 1454 of 1560 Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 12
Menifee Mayor and City Council August 7, 2024 Page 1455 of 1560 Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 1
Menifee Mayor and City Council August 7, 2024 Page 1456 of 1560 Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 2
Menifee Mayor and City Council August 7, 2024 Page 1457 of 1560 Item Title: 11.6
Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 3
Menifee Mayor and City Council August 7, 2024 Page 1458 of 1560 Ordinance Introduction and Annexation No. 11, Golden Meadows, into Community Facilities District 2017-1, Maintenance Services Menifee Mayor and City Council August 7, 2024 Page 1459 of 1560

CITY OF MENIFEE
SUBJECT: Ordinance Introduction and Annexation No. 21, River Walk Village, into Community Facilities District 2017-1,
Maintenance Services
MEETING DATE: August 7, 2024
TO: Mayor and City Council
PREPARED BY: Kristen Jensen, Financial Analyst
REVIEWED BY: Nick Fidler, Public Works Director
APPROVED BY: Armando G. Villa, City Manager
-------------------------------------------------------------------------------------------------------------------------------

RECOMMENDED ACTION

1. Adopt a resolution calling an election to annex territory, including Tract No. 38219, located on the west side of Bradley Road, south of the Salt Creek channel and north of Lazy Creek Road, into City of Menifee Community Facilities District (CFD) No. 2017-1 (Maintenance Services) and to levy a special tax on that land; and

2. Hold a special landowner election and canvass the election; and

3. Adopt a resolution declaring results of special landowner election; and

4. Introduce an ordinance, amending Ordinance No. 2017-231 and levying and apportioning the special tax in CFD 2017-1.

DISCUSSION
On June 19, 2024, the City Council adopted Resolution No. 24-1444, declaring its intent to annex territory to CFD No. 2017-1 and commence the annexation proceedings for the territory to be annexed, also known as Annexation No. 21. The next step in the annexation proceedings is to hold a public hearing to conduct an election for the landowners and to declare the results of that election.

The area within Annexation No. 21 is included in Tract No. 38219 and is approximately 14.31 gross acres of a vacant property within the City. The property is located on the west side of Bradley Road, south of the Salt Creek channel and north of Lazy Creek Road, as shown in the attached project location map. The proposed maintenance services would include items such as landscaping, lighting, street maintenance, drainage, parks, and graffiti abatement.

Item Title: 11.7
Ordinance Introduction and Annexation No. 21, River Walk Village, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 1
Menifee Mayor and City Council August 7, 2024 Page 1460 of 1560 City of Menifee Staff Report
CFD 2017-1 Annex 21 – River Walk Village
August 7, 2024

Per the request of Richmond American Homes of Maryland Inc., (“Owner”), the City would establish a rate and method of apportionment and authorize the levy of special taxes on the taxable property within Annexation No. 21, Tax Zone 21 to pay for those services.

Annexation No. 21 would have a maximum annual tax of $386 per unit. This includes a Maximum Special Tax A of $315 per unit per year for maintenance services of public facilities and a Maximum Special Tax B (Contingent) of $71 per unit per year and would be included on CFD No. 2017-1 as “Tax Zone 21.” The maximum annual tax rate is proposed to escalate each year at the greater of Consumer Price Index (CPI) or 2%. The attached CFD Maintenance Site Plan Exhibit illustrates which services would be maintained by the CFD.

The Owner submitted a "Consent and Waiver" form on file in the City Clerk's Office to:
• hold the election and declare election results; and
• consent to the shortening of election time requirements; and • waive analysis and arguments; and
• waive all notice requirements relating to the conduct of the election immediately following the public hearing.

A copy of the boundary map entitled "Annexation Map No. 21, Community Facilities District No. 2017-1 (Maintenance Services)" was recorded on June 24, 2024, in Book 93 of Maps of Assessment and Community Facilities Districts at Page 38, in the office of the Riverside County Recorder. Annexing the parcel into CFD No. 2017-1 would cover the costs of maintenance of certain public improvements associated with the development.

STRATEGIC PLAN OBJECTIVE
Thriving Economy

FISCAL IMPACT
The individual property owners in the CFD would be responsible for annual payments of special taxes. Upon full completion of the tract development, there would be an annual collection of Special Tax revenues of approximately $62,376 not including Contingent Tax B, to be used to pay for maintenance costs.

On June 1 of each year, every taxable unit for which a building permit has been issued within the boundaries of the CFD, would be subject to the special tax for the ensuing Fiscal Year. If the anticipated costs of maintaining the facilities in any given Fiscal Year, prior to buildout of the project, exceeds the special tax revenues available from parcels for which building permits have been issued, then the special tax may also be applied to property within recorded final subdivision maps, as well as other undeveloped property within the boundaries of the CFD.

All costs associated with annexation into the CFD have been borne by the Developer. By annexing into the CFD, the costs of maintaining improvements located within the development would be financed through special taxes levied on the parcels within CFD No. 2017-1 and not through the City’s General Fund.

Item Title: 11.7
Ordinance Introduction and Annexation No. 21, River Walk Village, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 2
Menifee Mayor and City Council August 7, 2024 Page 1461 of 1560 City of Menifee Staff Report
CFD 2017-1 Annex 21 – River Walk Village
August 7, 2024

ATTACHMENTS

1. Project Location Map

2. Resolution Calling the Election

3. Resolution Declaring Election Results

4. Certificate of Registered Voters

5. Ordinance

6. Signed Petition, Waiver and Consent for Annexation

7. Maintenance Site Plan Exhibit
Item Title: 11.7
Ordinance Introduction and Annexation No. 21, River Walk Village, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 3
Menifee Mayor and City Council August 7, 2024 Page 1462 of 1560 Ordinance Introduction and Annexation No. 21, River Walk Village, into Community Facilities District 2017-1, Maintenance Services Menifee Mayor and City Council August 7, 2024 Page 1463 of 1560 Item Title: 11.7
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CITY OF MENIFEE
SUBJECT: Ordinance Introduction and Annexation No. 23, Banner Park II, into Community Facilities District 2017-1, Maintenance Services
MEETING DATE: August 7, 2024
TO: Mayor and City Council
PREPARED BY: Kristen Jensen, Financial Analyst
REVIEWED BY: Nick Fidler, Public Works Director
APPROVED BY: Armando G. Villa, City Manager
-------------------------------------------------------------------------------------------------------------------------------

RECOMMENDED ACTION

1. Adopt a resolution calling an election to annex territory, including Tract Nos. 37671-1, -2, -F, located south of Domenigoni Parkway, east of Menifee Road, west of Briggs Road, and north of Old Newport Road, into City of Menifee Community Facilities District (CFD) No. 2017-1 (Maintenance Services) and to levy a special tax on that land; and

2. Hold a special landowner election and canvass the election; and

3. Adopt a resolution declaring results of special landowner election; and

4. Introduce an ordinance, amending the Ordinance No. 2017-231 and levying and apportioning the special tax in CFD 2017-1.

DISCUSSION
On June 19, 2024, the City Council adopted Resolution No. 24-1445, declaring its intent to annex territory to CFD No. 2017-1 and commence the annexation proceedings for the territory to be annexed, also known as Annexation No. 23. The next step in the annexation proceedings is to hold a public hearing conduct an election for the landowners and to declare the results of that election.

The area within Annexation No. 23 is included in Tract Nos. 37671-1, -2, -F and is approximately

53.23 gross acres of vacant property within the City. The property is located south of Domenigoni Parkway, east of Menifee Road, west of Briggs Road, and north of Old Newport Road, as shown in the attached project location map. The proposed maintenance services would include items such as landscaping, lighting, street maintenance, drainage, parks, trails, and graffiti abatement.

Item Title: 11.8
Ordinance Introduction and Annexation No. 23, Banner Park II, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 1
Menifee Mayor and City Council August 7, 2024 Page 1508 of 1560 City of Menifee Staff Report
CFD 2017-1, Annex 23 - Banner Park II
August 7, 2024

Per the request of Pulte Home Company, LLC, (“Owner”), the City would establish a rate and method of apportionment and authorize the levy of special taxes on the taxable property within Annexation Area No. 23, Tax Zone 23 to pay for those services.

Annexation Area No. 23 would have a maximum annual tax of $1,293 per unit. The maximum annual tax rate is proposed to escalate each year at the greater of Consumer Price Index (CPI) or 2%. The attached CFD Maintenance Site Plan Exhibit is to illustrate which services are being maintained by the CFD.

The Owner submitted a "Consent and Waiver" form on file in the City Clerk's Office to:
• hold the election and declare election results; and
• consent to the shortening of election time requirements; and • waive analysis and arguments; and
• waive all notice requirements relating to the conduct of the election immediately following the public hearing.

A copy of the boundary map entitled "Annexation Map No. 23, Community Facilities District No. 2017-1 (Maintenance Services)" was recorded on June 24, 2024, in Book 93 of Maps of Assessment and Community Facilities Districts at Page 39, in the office of the Riverside County Recorder. Annexing the parcel into CFD No. 2017-1 would cover the costs of maintenance of certain public improvements associated with the development.

STRATEGIC PLAN OBJECTIVE
Thriving Economy

FISCAL IMPACT
The individual property owners in the CFD would be responsible for annual payments of special taxes. Upon full completion of the tract development, there would be an annual collection of Special Tax revenues of approximately $235,166, to be used to pay for maintenance costs.

On June 1 of each year, every taxable unit for which a building permit has been issued within the boundaries of the CFD, would be subject to the special tax for the ensuing Fiscal Year. If the anticipated costs of maintaining the facilities in any given Fiscal Year, prior to buildout of the project, exceeds the special tax revenues available from parcels for which building permits have been issued, then the special tax may also be applied to property within recorded final subdivision maps, as well as other undeveloped property within the boundaries of the CFD.

All costs associated with annexation into the CFD have been borne by the Developer. By annexing into the CFD, the costs of maintaining improvements located within the development would be financed through special taxes levied on the parcels within CFD No. 2017-1 and not through the City’s General Fund.

Item Title: 11.8
Ordinance Introduction and Annexation No. 23, Banner Park II, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 2
Menifee Mayor and City Council August 7, 2024 Page 1509 of 1560 City of Menifee Staff Report
CFD 2017-1, Annex 23 - Banner Park II
August 7, 2024

ATTACHMENTS

1. Project Location Map

2. Resolution Calling the Election

3. Resolution Declaring Election Results

4. Certificate of Registered Voters

5. Ordinance

6. Signed Petition, Waiver and Consent for Annexation

7. Maintenance Site Plan Exhibit
Item Title: 11.8
Ordinance Introduction and Annexation No. 23, Banner Park II, into Community Facilities District 2017-1, Maintenance Services
Item Page Number: 3
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