or any landowner or developer within the District, for facilities, fees or other purposes or cost of the District.
(d) City of Patterson and Developer may add facilities to the list that are not listed or cover by the initial facilities description.
7.5.a
Packet Pg. 158 Attachment: 1 Resolution 2022-02 of Formation 11-15-22 (Approve Resolutions and Ordinance for 2022-1 Infrastructure CFD for Baldwin Ranch Exhibit B
EXHIBIT B
WEST PATTERSON FINANCING AUTHORITY
Community Facilities District No. 2022-2
(Baldwin Ranch Infrastructure)
RATE AND METHOD OF APPORTIONMENT OF SPECIAL TAX
7.5.a
Packet Pg. 159 Attachment: 1 Resolution 2022-02 of Formation 11-15-22 (Approve Resolutions and Ordinance for 2022-1 Infrastructure CFD for Baldwin Ranch
WEST PATTERSON FINANCING AUTHORITY
RESOLUTION NO. 2022-03
RESOLUTION DETERMINING NECESSITY TO INCUR BONDED INDEBTEDNESS
WEST PATTERSON FINANCING AUTHORITY
Community Facilities District No. 2022-2
(Baldwin Ranch Infrastructure)
RESOLVED, by the Board of Directors (the “Board of Directors”) of the West Patterson Financing Authority (the “Authority”), Stanislaus County, State of California, that:
WHEREAS, on October 4, 2022, pursuant to the Mello-Roos Community Facilities Act of 1982, Chapter 2.5 of Part 1 of Division 2 of Title 5, commencing with Section 53311, of the California Government Code (the “Act”), this Board of Directors adopted its Resolution No. 2022-70 entitled “A Resolution of Intention to Establish a Community Facilities District” (the “Resolution of Intention”), stating its intention to form the “West Patterson Financing Authority Community Facilities District No. 2022-2 (Baldwin Ranch Infrastructure)” (the “CFD”); and a resolution entitled “Resolution of Intention to Incur Indebtedness for a Community Facilities District” (the "Resolution of Intention to Incur Indebtedness") stating its intention to form to incur indebtedness for the CFD;
WHEREAS, this Board of Directors has held a noticed public hearing as required by the Act about the determination to proceed with the formation of the CFD, the provision of certain public facilities by the CFD and the rate and method of apportionment of the special tax to be levied within the CFD to pay the cost of the facilities, the principal and interest on the proposed bonded indebtedness in the CFD and the administrative costs of the Authority relative to the CFD;
WHEREAS, subsequent to the public hearing, this Board of Directors adopted a resolution entitled “Resolution of Formation of Community Facilities District” (the “Resolution of Formation”);
WHEREAS, this Board of Directors has also held a noticed public hearing as required by the Act relative to the matters material to the questions set forth in the Resolution of Intention and Resolution of Intention to Incur Indebtedness; and
WHEREAS, no written protests with respect to the matters material to the questions set forth in the Resolution of Intention to Incur Indebtedness have been filed with the Authority Clerk.
NOW THEREFORE BE IT RESOLVED as follows:
1. Recitals. The foregoing recitals are true and correct.
2. Necessity. In order to finance the costs of the Facilities, including, but not limited to, the costs of issuing and selling bonds to finance all or a portion of the Facilities and the costs of the Authority in establishing and administering the CFD, it is necessary for the Authority to incur bonded indebtedness on behalf of the CFD in an amount not to exceed $17,500,000 (the “Bonded Indebtedness Limit”).
7.5.b
Packet Pg. 160 Attachment: 2 Resolution 2022-03 Det Necess 11-15-22 (Approve Resolutions and Ordinance for 2022-1 Infrastructure CFD for Baldwin Ranch 2 3. Entire CFD Liable. The whole of the CFD shall pay for the bonded indebtedness through the levy of the special tax. The tax is to be apportioned in accordance with the formula set forth in Exhibit “B” to the Resolution of Formation.
4. Bonds and Other Debt. Bonds in the maximum amount of $17,500,000 are hereby authorized subject to voter approval. The bonded indebtedness subject to this limit shall not include bonds described in Section 53364.2(e) of the Act. The bonds may be issued in such series and may mature and bear interest at such rate or rates, payable semiannually or in such other manner, all as this Board or its designee shall determine, at the time or times of sale of such bonds; provided, however, that the interest rate or rates shall not exceed the maximum interest rate permitted by applicable law at the time of sale of the bonds and the bonds or any series thereof shall have a maximum term of not to exceed 40 years. It is the intention of this Board that any bonds issued may be made callable on terms to be specified in any resolution providing for the form, execution and issuance of bonds, in accordance with the terms of the Act. The maximum rate of interest shall be determined by competitive sale or by negotiation at the time of bond sale, but in any case shall not exceed the legal rate as specified, from time to time, by Government Code Section 53531 or any similar controlling provision of law.
5. Election. The proposition of incurring the bonded indebtedness herein authorized shall be submitted to the qualified electors of the CFD and shall be consolidated with elections on the proposition of levying special taxes within the CFD and the establishment of an appropriations limit for the CFD pursuant to Section 53353.5 of the Act. The time, place and further particulars and conditions of such election shall be as specified by separate resolution of this Board. The Secretary is hereby designated as the official to conduct the special, mailedballot election pursuant to the Act. The special CFD election shall be conducted by mailed ballot. In order to be counted, ballots must be returned to, and be physically received by, the Secretary before the end of the public hearing on formation of the CFD. If all authorized ballots are received by the Secretary prior to that time, the Secretary shall, pursuant to Government Code section 53326(d), immediately close the election and declare the results.
7.5.b
Packet Pg. 161 Attachment: 2 Resolution 2022-03 Det Necess 11-15-22 (Approve Resolutions and Ordinance for 2022-1 Infrastructure CFD for Baldwin Ranch 3 6. Effective Date. This Resolution shall take effect upon its adoption. * * * * * * * *
PASSED AND ADOPTED by the Board of Directors of the West Patterson Financing Authority on the 15th day of November 2022, by the following roll call vote:
AYES:
NOES:
ABSENT:
EXCUSED:
___________________________________
Dennis McCord, Chair
ATTEST:
Aracely Alegre, Secretary
7.5.b
Packet Pg. 162 Attachment: 2 Resolution 2022-03 Det Necess 11-15-22 (Approve Resolutions and Ordinance for 2022-1 Infrastructure CFD for Baldwin Ranch 1 RESOLUTION NO. ___________
WEST PATTERSON FINANCING AUTHORITY
RESOLUTION NO. 2022-04
RESOLUTION CALLING SPECIAL LANDOWNER ELECTION
WEST PATTERSON FINANCING AUTHORITY
Community Facilities District No. 2022-2
(Baldwin Ranch Infrastructure)
RESOLVED by the Board of Directors (the “Board”) of the West Patterson Financing Authority (the “Authority”), Stanislaus County, State of California, that:
WHEREAS, this Board has adopted a resolution entitled “Resolution of Formation of Community Facilities District" (the “Resolution of Formation”), ordering the formation of the “West Patterson Financing Authority Community Facilities District No. 2022-2 (Baldwin Ranch Infrastructure)” (the “CFD”), defining the facilities (the “Facilities”) to be financed by the CFD, authorizing the levy of a special tax on property within the CFD and preliminarily establishing an appropriations limit for the CFD, all pursuant to Chapter 2.5 of Part 1 of Division 2 of Title 5, commencing with Section 53311, of the California Government Code (the “Act”); and WHEREAS, this Board has also adopted a resolution entitled “Resolution Determining the Necessity to Incur Bonded Indebtedness” (the “Resolution Determining Necessity”), determining the necessity to incur bonded indebtedness in the maximum aggregate principal amount of $17,500,000 upon the security of the special tax to be levied within the CFD pursuant to the Act; and
WHEREAS, pursuant to the provisions of the Resolution of Formation and the Resolution Determining Necessity, the propositions of the levy of the special tax, the establishment of the appropriations limit and the incurring of the bonded indebtedness shall be submitted to the qualified electors of the CFD as required by the provisions of the Act; NOW THEREFORE BE IT RESOLVED as follows:
1. Issues Submitted. Pursuant to Sections 53326, 53351 and 53325.7 of the Act, the issues of the levy of the special tax, the incurring of bonded indebtedness and the establishment of the appropriations limit shall be submitted to the qualified electors (as defined below) of the CFD at an election called therefor as provided below.
2. Qualified Electors. This Board hereby finds that fewer than 12 persons have been registered to vote within the territory of the CFD for each of the ninety (90) days preceding the close of the public hearings heretofore conducted and concluded by this Board for the purposes of these proceedings. Accordingly, and pursuant to Section 53326 of the Act, this Board finds that, for these proceedings, the qualified electors are the landowners within the CFD and that the vote shall be by such landowners or their authorized representatives, each having one vote for each acre or portion thereof such landowner owns in the CFD as of the close of the public hearing.
3. Conduct of Election. This Board hereby calls a special election to consider the issues described in Section 2, above, which election shall be held on November 15, 2022, and the results thereof canvassed at the meeting of this Board on November 15, 2022. The
7.5.c
Packet Pg. 163 Attachment: 3 Resolution 2022-04 Call Elec 11-15-22 (Approve Resolutions and Ordinance for 2022-1 Infrastructure CFD for Baldwin Ranch 2 RESOLUTION NO. ___________
Secretary is hereby designated as the official to conduct the election and to receive all ballots until the close of business on the election date. It is hereby acknowledged that the Secretary has on file the Resolution of Formation, a map of the boundaries of the CFD, and a sufficient description to allow the Secretary to determine the electors of the CFD. Pursuant to Section 53327 of the Act, the election shall be conducted by messenger or mail-delivered ballot pursuant to Section 4000 of the California Elections Code. This Board hereby finds that Section 4108 is applicable to this special election, except that Sections 53326 and 53327 of the Act shall govern for purposes of determining the date of the election.
4. Ballot. As authorized by Section 53353.5 of the Act, the issues described in Section 1 above shall be combined into a single ballot measure, the form of which as attached hereto as Exhibit “A” is hereby approved. The Secretary is hereby authorized and directed to cause a ballot, in substantially the form of Exhibit “A,” to be delivered to each of the qualified electors of the CFD. Each ballot shall indicate the number of votes to be voted by the respective landowner to which the ballot pertains. Each ballot shall be accompanied by all supplies and written instructions necessary for the use and return of the ballot. The envelope to be used to return the ballot shall be enclosed with the ballot, have the return postage prepaid, and contain the following: (a) the name and address of the landowner, (b) a declaration, under penalty of perjury, stating that the voter is the owner of record or authorized representative of the landowner entitled to vote and is the person whose name appears on the envelope, (c) the printed name, signature and address of the voter, (d) the date of signing and place of execution of the declaration pursuant to clause (b) above, and (e) a notice that the envelope contains an official ballot.
5. Waivers. This Board hereby further finds that the provisions of Section 53326 of the Act requiring a minimum of 90 days following the adoption of the Resolution of Formation to elapse before the special election are for the protection of the qualified electors of the CFD.
There is on file with the Secretary a written waiver executed by all of the qualified electors of the CFD allowing for a shortening of the time for the special election to expedite the process of formation of the CFD and waiving any requirement for notice, analysis and arguments in connection with the election. Accordingly, this Board finds and determines that the qualified electors have been fully apprised of and have agreed to the shortened time for the election and waiver of analysis and arguments, and have thereby been fully protected in these proceedings.
This Board also finds and determines that the Secretary has concurred in the shortened time for the election. Analysis and arguments with respect to the ballot measures are hereby waived, as provided in Section 53327 of the Act.
6. Accountability. The Board hereby finds that the proposed issuance of bonds and other debt for each Improvement Area constitutes a “local bond measure” within the meaning of Sections 53410, et seq. of the California Government Code. As a result, the bond measure shall include the propositions set forth above and the following: (a) the specific purpose of the bonds and other debt shall be as set forth in the propositions; (b) any proceeds received from the sale of any bonds and other debt shall be applied only to the purposes set forth in the propositions; (c) the proceeds of any bonds and other debt shall be deposited into special accounts to be created therefor as part of the issuance of the bonds and other debt; and (d) the Authority shall cause a report to be prepared annually under Section 53411 of the Government Code.
Under Section 50075.1 of the Government Code, the following accountability provisions shall apply to the special taxes: (a) the Facilities and the incidental costs thereof, all as defined in the Resolution of Formation, shall constitute the specific single purpose; (b) the proceeds shall be applied only to the specific purposes identified in (a) above; (c) there shall be created
7.5.c
Packet Pg. 164 Attachment: 3 Resolution 2022-04 Call Elec 11-15-22 (Approve Resolutions and Ordinance for 2022-1 Infrastructure CFD for Baldwin Ranch 3 RESOLUTION NO. ___________
special account(s) or funds(s) into which the proceeds shall be deposited; and (d) there shall be caused to be prepared an annual report if required by Section 50075.3 of the Government Code.
7. Effective Date. This Resolution shall take effect upon its adoption. * * * * * * * *
PASSED AND ADOPTED by the Board of Directors of the West Patterson Financing Authority on the 15th day of November 2022, by the following roll call vote:
AYES:
NOES:
EXCUSED:
___________________________________
Dennis McCord, Chair
ATTEST:
Aracely Alegre, Secretary
7.5.c
Packet Pg. 165 Attachment: 3 Resolution 2022-04 Call Elec 11-15-22 (Approve Resolutions and Ordinance for 2022-1 Infrastructure CFD for Baldwin Ranch Exhibit A
EXHIBIT A - Form of Ballot
WEST PATTERSON FINANCING AUTHORITY
Community Facilities District No. 2022-2
(Baldwin Ranch Infrastructure)
OFFICIAL BALLOT
SPECIAL TAX ELECTION
This ballot is for a special, landowner election for the West Patterson Financing Authority Community Facilities District No. 2022-2 (Baldwin Ranch Infrastructure). You must return this ballot in the enclosed postage paid envelope to the office of the City Clerk of the City of Patterson no later than the hour of 7:00 p.m. on November 15, 2022, either by mail or in person. The Clerk’s office is located at 1 Plaza Circle, Patterson, California 95363.
To vote, mark a cross (X) on the voting line after the word “YES” or after the word “NO.” All marks otherwise made are forbidden. All distinguishing marks are forbidden and make the ballot void. If you wrongly mark, tear, or deface this ballot, return it to the City Clerk and obtain another.
The estimated maximum amount of money raised annually by this measure at year 30 is expected to be $____ million based upon the projected full build-out of the CFD and the rate of the special tax as set forth in the rate and method of apportionment of special taxes for the CFD.
BALLOT MEASURE: Shall the measure pursuant to which (i) the West Patterson Financing Authority shall incur an indebtedness and issue bonds in the maximum aggregate principal amount of not to exceed $17,500,000 with interest at a rate or rates not to exceed the maximum interest rate permitted by law at the time of sale of such bonds on behalf of the West Patterson Financing Authority Community Facilities District No. 2022-2 (Baldwin Ranch Infrastructure) (the “CFD”), the proceeds of which bonds will be used to acquire and/or construct certain facilities and pay for the costs of issuing the bonds and related expenses; (ii) a special tax payable solely from lands within the CFD shall be levied annually, commencing in the Authority’s fiscal year 2022-23, upon lands within the CFD to pay for the principal and interest upon such bonds, to pay the costs of the Authority in administering the CFD, and to pay for the costs of acquiring and/or constructing certain facilities; and (iii) the annual appropriations limit of the CFD shall be established in the amount of $17,500,000 be adopted?
By execution in the space provided below, you also confirm your written waiver of the time limit pertaining to the conduct of the election and any requirement for analysis and arguments with respect to the ballot measure.
Number of Votes: ___
Property Owner:
[property owner name]
[signature block]
7.5.c
Packet Pg. 166 Attachment: 3 Resolution 2022-04 Call Elec 11-15-22 (Approve Resolutions and Ordinance for 2022-1 Infrastructure CFD for Baldwin Ranch 1 RESOLUTION NO. ___________
WEST PATTERSON FINANCING AUTHORITY
RESOLUTION NO. 2022-05
RESOLUTION DECLARING RESULTS OF SPECIAL LANDOWNER
ELECTION AND DIRECTING RECORDING OF NOTICE OF SPECIAL TAX LIEN
WEST PATTERSON FINANCING AUTHORITY
Community Facilities District No. 2022-2
(Baldwin Ranch Infrastructure)
RESOLVED by the Board of Directors (the “Board”) of the West Patterson Financing Authority (the “Authority”), Stanislaus County, State of California, that:
WHEREAS, this Board has adopted a resolution entitled “Resolution of Formation of Community Facilities District” (the “Resolution of Formation”), ordering the formation of the “West Patterson Financing Authority Community Facilities District No. 2022-2 (Baldwin Ranch Infrastructure)” (the “CFD”), authorizing the levy of a special tax on property within the CFD and preliminarily establishing an appropriations limit for the CFD, all pursuant to Chapter 2.5 of Part 1 of Division 2 of Title 5, commencing with Section 53311, of the California Government Code (the “Act”).
WHEREAS, this Board has also adopted a resolution entitled “Resolution Determining the Necessity to Incur Bonded Indebtedness” (the “Resolution of Necessity”), determining the necessity to incur bonded indebtedness in the maximum aggregate principal amount of $17,500,000 for the CFD, upon the security of the special tax to be levied within the CFD pursuant to the Act; and
WHEREAS, under the provisions of the Resolution of Formation and pursuant to a resolution entitled "A Resolution of the Board of Directors of the West Patterson Financing Authority Calling Special Landowner Election for Community Facilities District" (the “Election Resolution”) heretofore adopted by this Board, the propositions of the levy of the special tax, the establishment of the appropriations limit and the incurring of the bonded indebtedness were submitted to the qualified electors of the CFD as required by the provisions of the Act.
WHEREAS, pursuant to the terms of the Election Resolution, which are by this reference incorporated herein, the special election has been held and the Secretary has on file a Canvass and Statement of Results of Election, (the “Canvass”) a copy of which is attached hereto as Exhibit A; and
WHEREAS, this Board has been informed of the Canvass, finds it appropriate and wishes to complete its proceedings for the CFD.
NOW THEREFORE BE IT RESOLVED as follows:
1. Recitals. The foregoing recitals are all true and correct.
2. Issues Presented. The issues presented at the special election were the levy of a special tax within the CFD the incurring of a bonded indebtedness for the CFD and the
7.5.d
Packet Pg. 167 Attachment: 4 Resolution 2022-05 Decl Results 11-15-22 (Approve Resolutions and Ordinance for 2022-1 Infrastructure CFD for Baldwin Ranch 2 RESOLUTION NO. ___________
approval of an annual appropriations limit of not to exceed $17,500,000, all pursuant to the Resolution of Formation and the Resolution of Necessity.
3. Canvass and Issues Approved. The Board hereby approves the Canvass and finds that it shall be a permanent part of the record of its proceedings for the CFD. Pursuant to the Canvass, the issues presented at the special election were approved by the qualified electors of the CFD by more than two-thirds of the votes cast at the special election.
4. Proceedings Approved. Pursuant to the voter approval, the CFD is hereby declared to be fully formed with the authority to levy the special taxes, to incur the approved bonded indebtedness and to have the established appropriations limit, all as heretofore provided in these proceedings and in the Act. It is hereby found that all prior proceedings and actions taken by this Board with respect to the CFD were valid and in conformity with the Act.
5. Notice of Tax Lien. The Secretary is hereby directed to complete, execute and cause to be recorded in the office of the County Recorder of Stanislaus County a notice of special tax lien in the form required by the Act, such recording to occur no later than fifteen (15) days following adoption of this resolution by the Board.
6. Effective Date. This Resolution shall take effect upon its adoption. * * * * * * * *
P PASSED AND ADOPTED by the Board of Directors of the West Patterson Financing Authority on the 15th day of November 2022, by the following roll call vote:
AYES:
NOES:
EXCUSED:
___________________________________
Dennis McCord, Chair
ATTEST:
Aracely Alegre, Secretary
7.5.d
Packet Pg. 168 Attachment: 4 Resolution 2022-05 Decl Results 11-15-22 (Approve Resolutions and Ordinance for 2022-1 Infrastructure CFD for Baldwin Ranch Exhibit A
EXHIBIT A
CANVASS AND STATEMENT OF RESULT OF ELECTION
WEST PATTERSON FINANCING AUTHORITY
Community Facilities District No. 2022-2
(Baldwin Ranch Infrastructure)
I hereby certify that on November 15, 2022, I canvassed the returns of the election held on November 15, 2022, in the West Patterson Financing Authority Community Facilities District No. 2022-2 (Baldwin Ranch Infrastructure) and the total number of ballots cast in such District and the total number of votes cast for and against the measure are as follows and the totals as shown for and against the measure are full, true and correct:
Qualified
Landowner Votes
Votes Cast YES NO
West Patterson Financing Authority
Community Facilities District No. 2022-2
(Baldwin Ranch Infrastructure)
Special Tax Election, November 15, 2022. _____ _____ _____ _____ BALLOT MEASURE: Shall the measure pursuant to which (i) the West Patterson Financing Authority shall incur an indebtedness and issue bonds in the maximum aggregate principal amount of not to exceed $17,500,000 with interest at a rate or rates not to exceed the maximum interest rate permitted by law at the time of sale of such bonds on behalf of the West Patterson Financing Authority Community Facilities District No. 2022-2 (Baldwin Ranch Infrastructure) (the “CFD”), the proceeds of which bonds will be used to acquire and/or construct certain facilities and pay for the costs of issuing the bonds and related expenses; (ii) a special tax payable solely from lands within the CFD shall be levied annually, commencing in the Authority’s fiscal year 2022-23, upon lands within the CFD to pay for the principal and interest upon such bonds, to pay the costs of the Authority in administering the CFD, and to pay for the costs of acquiring and/or constructing certain facilities; and (iii) the annual appropriations limit of the CFD shall be established in the amount of $17,500,000 be adopted?
YES: __________
NO: __________
IN WITNESS WHEREOF, I HAVE HEREUNTO SET MY HAND on ________, 2022.
By:
Secretary
West Patterson Financing Authority
7.5.d
Packet Pg. 169 Attachment: 4 Resolution 2022-05 Decl Results 11-15-22 (Approve Resolutions and Ordinance for 2022-1 Infrastructure CFD for Baldwin Ranch 1 ORDINANCE NO. 866
AN ORDINANCE OF THE BOARD OF DIRECTORS OF THE WEST
PATTERSON FINANCING AUTHORITY LEVYING SPECIAL TAX WITHIN COMMUNITY FACILITIES DISTRICT NO. 2022-1
(BALDWIN RANCH INFRASTRUCTURE)
WHEREAS, pursuant to the Mello-Roos Community Facilities Act of 1982, as amended, sections 53311, et. seq., of the California Government Code (the “Act”), on September 4, 2018, this Board of Directors (the “Board”) of the West Patterson Financing Authority (the “Authority”), adopted its resolution entitled “Resolution of Intention to Establish Community Facilities District” (the “Resolution of Intention”), and has conducted proceedings (the “Proceedings”) to establish “West Patterson Financing Authority Community Facilities District No. 2022-1 (Baldwin Ranch Infrastructure)” (the “CFD”) pursuant to the Mello-Roos Community Facilities Act, Chapter 2.5 of Part 1 of Division 2 of Title 5, commencing with Section 53311, of the California Government Code (the “Act”) to finance certain facilities (the “Facilities”) as provided in the Act; WHEREAS, pursuant to notice as specified in the Act, and as part of the Proceedings, the Board has held a public hearing under the Act relative to the determination to proceed with the formation of the CFD and the rate and method of apportionment of the special tax (“Special Tax”) to be levied within the CFD to finance the Facilities, and at such hearing all persons desiring to be heard on all matters pertaining to the formation of the CFD and the levy of the Special Tax were heard, substantial evidence was presented and considered by this Board and a full and fair hearing was held;
WHEREAS, upon the conclusion of the hearing, this Board adopted its “Resolution of Formation of Community Facilities District” (the “Resolution of Formation”), pursuant to which it completed the Proceedings for the establishment of the CFD, the authorization of the levy of the Special Tax within the CFD and the calling of an election within the CFD on the propositions of levying the Special Tax and establishing an appropriations limit within the CFD, respectively; and
WHEREAS, on November 15, 2022, a special election was held among the landowner voters within the CFD at which such voters approved such propositions by the two-thirds vote required by the Act, which approval has been confirmed by resolution of this Board.
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF DIRECTORS OF THE WEST PATTERSON FINANCING AUTHORITY as follows:
Section 1. By the passage of this Ordinance, the Board hereby authorizes and levies the Special Tax within the CFD pursuant to the Act, at the rate and in accordance with the rate and method of apportionment of Special Tax set forth in the Resolution of Formation which rate and method is by this reference incorporated herein. The Special Tax is hereby levied commencing in fiscal year 2022-23 and in each fiscal year thereafter to pay for the Facilities for the CFD, as contemplated by the Resolution of Formation and the Proceedings and all costs of administering the CFD.
Section 2. The Treasurer of the Authority or designee, or an employee or consultant of the Authority, is hereby authorized and directed each fiscal year to determine the specific Special Tax to be levied for the next ensuing fiscal year for each parcel of real property within the CFD, in the manner and as provided in the Resolution of Formation.
7.5.e
Packet Pg. 170 Attachment: 5 Ordinance NO. 866 11-15-22 (Approve Resolutions and Ordinance for 2022-1 Infrastructure CFD for Baldwin Ranch North) 2 Section 3. Exemptions from the levy of the Special Tax shall be as provided in the Resolution of Formation and the applicable provisions of the Act. In no event shall the Special Tax be levied on any parcel within the CFD in excess of the maximum Special Tax specified in the Resolution of Formation.
Section 4. All of the collections of the special tax shall be used as provided for in the Act and in the Resolution of Formation including, but not limited to, the payment of principal and interest on bonds and other debt (as defined in the Act) issued by the Authority for the CFD (the “Bonds”), the replenishment of the reserve fund for the Bonds, the payment of the costs of the Facilities, the payment of the costs of the Authority in administering the CFD, and the costs of collecting and administering the special tax.
Section 5. The Special Tax shall be collected in the same manner as ordinary ad valorem taxes are collected and shall have the same lien priority, and be subject to the same penalties and the same procedure and sale in cases of delinquency as provided for ad valorem taxes; provided, however, that the Board may provide for other appropriate methods of collection by resolution(s) of the Board. In addition, the provisions of Section 53356.1 of the Act shall apply to delinquent Special Tax payments. The Treasurer of the Authority is hereby authorized and directed to provide all necessary information to the auditor/tax collector of Stanislaus County in order to effect proper billing and collection of the Special Tax, so that the Special Tax shall be included on the secured property tax roll of the Stanislaus County for fiscal year 2019-20 and for each fiscal year thereafter until the Bonds are paid in full or such longer period of time provided in the Rate and Method.
Section 6. If for any reason any portion of this ordinance is found to be invalid, or if the Special Tax is found inapplicable to any particular parcel within the CFD, by a court of competent jurisdiction, the balance of this ordinance and the application of the Special Tax to the remaining parcels within the CFD shall not be affected.
Section 7. The Chair shall sign this Ordinance and the Secretary shall cause the same to be published immediately after its passage at least once in a newspaper of general circulation circulated in the Authority.
7.5.e
Packet Pg. 171 Attachment: 5 Ordinance NO. 866 11-15-22 (Approve Resolutions and Ordinance for 2022-1 Infrastructure CFD for Baldwin Ranch North) 3 Section 8. This Ordinance shall take effect 30 days from the date of final passage. * * * * * * * * *
The foregoing ordinance was introduced by the following vote at the meeting of the Board of Directors of the West Patterson Financing Authority held on the 15th day of November 2022:
AYES:
NOES:
EXCUSED:
APPROVED:
Dennis McCord, CHAIR
ATTEST:
____________________________
Aracely Alegre, SECRETARY
DATE: , 2022
7.5.e
Packet Pg. 172 Attachment: 5 Ordinance NO. 866 11-15-22 (Approve Resolutions and Ordinance for 2022-1 Infrastructure CFD for Baldwin Ranch North)
WPFA CFD No. 2022-2 1 August 15, 2022
EXHIBIT B
WEST PATTERSON FINANCING AUTHORITY
COMMUNITY FACILITIES DISTRICT NO. 2022-2
(BALDWIN RANCH INFRASTRUCTURE)
RATE AND METHOD OF APPORTIONMENT OF SPECIAL TAX
A Special Tax applicable to each Assessor’s Parcel in the West Patterson Financing Authority Community Facilities District No. 2022-2 (Baldwin Ranch Infrastructure) [herein “CFD No. 2022- 2”] shall be levied and collected according to the tax liability determined by the Board of Directors of the West Patterson Financing Authority or its designee, through the application of the appropriate amount or rate for Taxable Property, as described below. All of the property in CFD No. 2022-2, unless exempted by law or by the provisions of Section F below, shall be taxed for the purposes, to the extent, and in the manner herein provided, including property subsequently annexed to CFD No. 2022-2 unless the Board adopts, and the owners of the annexed land unanimously approve, a separate Rate and Method of Apportionment of Special Tax for the annexation area.
A. DEFINITIONS
The terms hereinafter set forth have the following meanings:
“Accessory Unit” means a second residential unit of limited size (e.g., granny cottage, second unit) that shares a Parcel with a Unit of Single Family Property. “Act” means the Mello-Roos Community Facilities Act of 1982, as amended, being Chapter 2.5 (commencing with Section 53311) of Part 1 of Division 2 of Title 5 of the Government Code of the State of California.
“Administrative Expenses” means any or all of the following: the fees and expenses of any fiscal agent or trustee (including any fees or expenses of its counsel) employed in connection with any Bonds, and the expenses of the Authority or the City in carrying out their respective duties with respect to CFD No. 2022-2 and the Bonds, including, but not limited to, the levying and collection of the Special Tax, the fees and expenses of their respective counsel, charges levied by the County Auditor’s Office, Tax Collector’s Office, and/or the County Treasurer’s Office, costs related to annexing property into CFD No. 2022-2, costs related to property owner inquiries regarding the Special Tax, amounts needed to pay rebate to the federal government with respect to Bonds, costs related to complying with continuing disclosure requirements under the California Government Code with respect to the Bonds and the Special Tax, and all other costs and expenses of the Authority and the City in any way related to the establishment or administration of CFD No. 2022-2. “Administrator” means the person or firm designated by the Authority to administer the Special Tax according to this Rate and Method of Apportionment of Special Tax.
7.5.f
Packet Pg. 173 Attachment: RMA (v1) - 08.15.2022[1] Baldwin Ranch CFD 2022-2 (Approve Resolutions and Ordinance for 2022-1 Infrastructure CFD for
WPFA CFD No. 2022-2 2 August 15, 2022
“Assessor’s Parcel” or “Parcel” means a lot or parcel shown on an Assessor’s Parcel Map with an assigned Assessor’s Parcel Number.
“Assessor’s Parcel Map” means an official map of the County Assessor designating parcels by Assessor’s Parcel Number.
“Assessor’s Parcel Number” means, with respect to an Assessor’s Parcel, that number assigned to such Assessor’s Parcel by the County for purposes of identification. “Authority” means the West Patterson Financing Authority. “Board” means the Board of Directors of the Authority, acting as the legislative body of CFD No. 2022-2.
“Bonds” means bonds or other debt (as defined in the Act), whether in one or more series, issued, insured, or assumed by CFD No. 2022-2 related to public infrastructure and/or improvements that will serve property included within CFD No. 2022-2.
“CFD No. 2022-2” means the West Patterson Financing Authority Community Facilities District No. 2022-2 (Baldwin Ranch Infrastructure).
“City” means the City of Patterson.
“County” means the County of Stanislaus.
“Developed Property” means, in any Fiscal Year, all Taxable Property in CFD No. 2022-2 for which a building permit for new construction was issued by the City prior to June 1 of the preceding Fiscal Year, but not prior to June 1, 2021.
“Final Map” means a final map, or portion thereof, approved by the City pursuant to the Subdivision Map Act (California Government Code Section 66410 et seq.) that creates lots which do not need to be further subdivided prior to issuance of a building permit for a residential or non-residential structure.
“Fiscal Year” means the period starting July 1 and ending on the following June 30. “Indenture” means the bond indenture, fiscal agent agreement, trust agreement, resolution, or other instrument pursuant to which Bonds are issued, as modified, amended, and/or supplemented from time to time, and any instrument replacing or supplementing the same. “Land Use Class” means any of the classes listed in Table 1 below. “Maximum Special Tax” means the maximum amount of Special Tax, determined in accordance with Section C below, which can be levied in any Fiscal Year.
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Packet Pg. 174 Attachment: RMA (v1) - 08.15.2022[1] Baldwin Ranch CFD 2022-2 (Approve Resolutions and Ordinance for 2022-1 Infrastructure CFD for
WPFA CFD No. 2022-2 3 August 15, 2022
“Net Acre” or “Net Acreage” means the land area of an Assessor’s Parcel as shown on an Assessor’s Parcel Map, or if the land area is not shown on an Assessor’s Parcel Map, the land area shown on the applicable Subdivision Map or other recorded County parcel map. Net Acreage shall include a proportional allocation of road right-of-way included within the Subdivision Map, as applicable. The Net Acreage of a Parcel or Subdivision Map shall be determined in the sole discretion of the City.
“Non-Residential Property” means, in any Fiscal Year, all Parcels of Developed Property that have or will have a commercial, office, lodging, institutional (e.g., churches, private schools), or industrial building(s) constructed on them.
“Other Residential Property” means Developed Property that has or will have Units constructed on the Parcel, other than Units of Single Family Property. “Proportionately” means, in any Fiscal Year, that the ratio of the actual Special Tax to the Maximum Special Tax is equal for all Assessor’s Parcels of Developed Property within CFD No. 2022-2.
“Public Property” means any property within the boundaries of CFD No. 2022-2 that is owned by or irrevocably offered for dedication to the federal government, State of California, or other local government or public agency.
“RMA” means this Rate and Method of Apportionment of Special Tax. “Single Family Attached Property” means, in any Fiscal Year, all Parcels of Developed Property for which a building permit or use permit was issued for construction of a residential structure consisting of two or more Units that share common walls, have separate Assessor’s Parcel Numbers assigned to them (except for a duplex, triplex, or fourplex unit, which may share a Parcel with another duplex, triplex, or fourplex Unit(s)), and may be purchased by individual homebuyers (which shall still be the case even if the Units are purchased and subsequently offered for rent by the owner of the Unit), including such residential structures that meet the statutory definition of a condominium project contained in Civil Code Section 4125.
“Single Family Detached Property” means, in any Fiscal Year, all Parcels of Developed Property for which a building permit was issued for construction of a Unit that does not share a common wall with another Unit.
“Single Family Property” means all Assessor’s Parcels of Single Family Attached Property and Single Family Detached Property.
“Special Tax” means a special tax levied in any Fiscal Year that will be used to pay the Special Tax Requirement.
“Special Tax Requirement” means the amount necessary in any Fiscal Year (i) to pay principal and interest on Bonds that is due in the calendar year which begins in such Fiscal Year, (ii) to create or replenish reserve funds, (iii) to cure any delinquencies in the payment of principal or interest on
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Packet Pg. 175 Attachment: RMA (v1) - 08.15.2022[1] Baldwin Ranch CFD 2022-2 (Approve Resolutions and Ordinance for 2022-1 Infrastructure CFD for
WPFA CFD No. 2022-2 4 August 15, 2022
Bonds which have occurred in the prior Fiscal Year, (iv) to pay Administrative Expenses, and (v) to pay the costs of public improvements and public infrastructure authorized to be financed by CFD No. 2022-2. The amounts referred to in clauses (i) and (ii) of the preceding sentence may be reduced in any Fiscal Year by (i) interest earnings on or surplus balances in funds and accounts for the Bonds to the extent that such earnings or balances are available to apply against debt service pursuant to the Indenture, Bond resolution, or other legal document that set forth these terms, (ii) proceeds from the collection of penalties associated with delinquent Special Taxes, and (iii) any other revenues available to pay debt service on the Bonds as determined by the Administrator. “Subdivision Map” means a Final Map, large lot subdivision map, condominium plan, or other map recorded with the County that results in the subdivision of an original Parcel into two or more successor Parcels.
“Taxable Property” means all Parcels within the boundary of CFD No. 2022-2 that are not exempt from the Special Tax pursuant to law or Section F below. “Unit” means an individual single-family detached or attached home, townhome, condominium, apartment, or other residential dwelling unit, including each separate living area within a half-plex, duplex, triplex, fourplex, or other residential structure. An Accessory Unit that shares a Parcel with a single-family detached unit shall not be considered a separate Unit for purposes of this RMA.
B. DATA FOR ADMINISTRATION OF SPECIAL TAXES
On or about July 1 of each Fiscal Year, the Administrator shall identify the current Assessor’s Parcel Numbers for all Parcels of Developed Property within CFD No. 2022-2. The Administrator shall also determine: (i) the Net Acreage of each Parcel; (ii) which Parcels of Developed Property are Single Family Property, Other Residential Property, and Non-Residential Property; and (iii) the Special Tax Requirement for the Fiscal Year.
In any Fiscal Year, if it is determined that (i) a Subdivision Map for property in the CFD No. 2022-2 was recorded after January 1 of the prior Fiscal Year (or any other date after which the County Assessor will not incorporate the newly-created Parcels into the then current tax roll), (ii) because of the date the Subdivision Map was recorded, the County Assessor does not yet recognize the new Parcels created by the Subdivision Map, and (iii) a building permit was issued prior to June 1 of the prior Fiscal Year for development on one or more of the newly-created Parcels, the Administrator shall calculate the Special Tax for Units or Net Acreage within the subdivided area and levy such Special Tax on the Parcel(s) that was subdivided by recordation of the Subdivision Map.
C. MAXIMUM SPECIAL TAX
The Maximum Special Tax rates in Table 1 below apply to all Parcels of Residential Property, Other Residential Property, and Non-Residential Property within CFD No. 2022-2:
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Packet Pg. 176 Attachment: RMA (v1) - 08.15.2022[1] Baldwin Ranch CFD 2022-2 (Approve Resolutions and Ordinance for 2022-1 Infrastructure CFD for
WPFA CFD No. 2022-2 5 August 15, 2022
Table 1
MAXIMUM SPECIAL TAX RATES
Land Use Class Maximum Special Tax
(Fiscal Year 2022-23) *
Single Family Property $1,740 per Unit
Other Residential Property $2,500 per Net Acre
Non-Residential Property $2,500 per Net Acre
* Beginning July 1, 2023, and each July 1 thereafter, all of the Maximum Special Tax rates shown in Table 1 above shall be increased by an amount equal to two percent (2.0%) of the amount in effect for the prior Fiscal Year.
Pursuant to Section 53321(d) of the Act, the Special Tax levied against a Parcel used for private residential purposes shall under no circumstances increase by more than ten percent (10%) in any year as a consequence of delinquency or default by the owner of any other Parcel or Parcels and shall, in no event, exceed the Maximum Special Tax in effect for the Fiscal Year in which the Special Tax is being levied.
In some instances, an Assessor’s Parcel of Developed Property may contain more than one Land Use Class. The Maximum Special Taxes levied on an Assessor’s Parcel shall be the sum of the Maximum Special Taxes for all Units of Single Family Property and the Maximum Special Taxes for all Net Acres of Other Residential Property and Non-Residential Property (based on the applicable Subdivision Map, parcel map, development plan, condominium plan, or other recorded County map) located on that Assessor’s Parcel.
D. METHOD OF LEVY AND COLLECTION OF THE SPECIAL TAX
Each Fiscal Year, the Administrator shall identify the current Assessor’s Parcel Number for each Parcel of Taxable Property within CFD No. 2022-2.
Each Fiscal Year prior to the sale of Bonds, the Maximum Special Tax shall be levied on all Parcels of Developed Property within CFD No. 2022-2. Each Fiscal Year after Bonds have been sold, the Administrator shall determine the Special Tax Requirement, and the Special Tax shall be levied Proportionately on each Parcel of Developed Property, up to 100% of the Maximum Special Tax assigned to each Parcel, until the amount levied is equal to the Special Tax Requirement.
E. MANNER OF COLLECTION
The Special Tax for CFD No. 2022-2 shall be collected in the same manner and at the same time as ordinary ad valorem property taxes, provided, however, that the City may directly bill the Special
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Packet Pg. 177 Attachment: RMA (v1) - 08.15.2022[1] Baldwin Ranch CFD 2022-2 (Approve Resolutions and Ordinance for 2022-1 Infrastructure CFD for
WPFA CFD No. 2022-2 6 August 15, 2022
Tax, may collect Special Taxes at a different time or in a different manner, and may collect delinquent Special Taxes through foreclosure or other available methods.
The Special Tax shall be levied and collected until principal and interest on Bonds have been repaid and authorized facilities to be constructed directly from Special Tax proceeds have been completed.
However, in no event shall Special Taxes be levied after Fiscal Year 2072-73.
F. EXEMPTIONS
Notwithstanding any other provision of this Rate and Method of Apportionment of Special Tax, no Special Tax shall be levied on Public Property, except as otherwise provided in Sections 53317.3 and 53317.5 of the Act.
G. PREPAYMENT OF SPECIAL TAX
The following definitions apply to this Section G:
“Remaining Facilities Costs” means the Public Facilities Requirement minus public facility costs funded by Outstanding Bonds, direct funding through the annual CFD No. 2022-2 Special Tax levy, developer equity, and/or any other source of funding. “Outstanding Bonds” means all Previously Issued Bonds that remain outstanding, with the following exception: if a Special Tax has been levied against, or already paid by, an Assessor’s Parcel making a prepayment, and a portion of the Special Tax will be used to pay a portion of the next principal payment on the Bonds that remain outstanding (as determined by the Administrator), that next principal payment shall be subtracted from the total Bond principal that remains outstanding, and the difference shall be used as the amount of Outstanding Bonds for purposes of this prepayment formula. “Previously Issued Bonds” means all Bonds that have been issued prior to the date of prepayment.
“Public Facilities Requirement” means either $10,850,000 in 2022 dollars, which shall increase on January 1, 2023, and on each January 1 thereafter by the percentage increase, if any, in the Construction Cost Index for the San Francisco region for the prior twelve (12) month period as published in the Engineering News-Record or other comparable source if the Engineering News-Record is discontinued or otherwise not available, or such other number as shall be determined by the Administrator in coordination with the City as sufficient to fund improvements that are authorized to be funded by CFD No. 2022-2. Notwithstanding the foregoing, the Administrator shall recalculate the Public Facilities Requirement to include the estimated public facilities costs that will be funded by the increased Maximum Special Tax revenue generated by property that annexes into CFD No. 2022-2
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Packet Pg. 178 Attachment: RMA (v1) - 08.15.2022[1] Baldwin Ranch CFD 2022-2 (Approve Resolutions and Ordinance for 2022-1 Infrastructure CFD for
WPFA CFD No. 2022-2 7 August 15, 2022
The Special Tax obligation applicable to an Assessor’s Parcel in CFD No. 2022-2 may be prepaid and the obligation of the Assessor’s Parcel to pay the Special Tax permanently satisfied as described herein, provided that a prepayment may be made only if there are no delinquent Special Taxes with respect to such Assessor’s Parcel at the time of prepayment. An owner of an Assessor’s Parcel intending to prepay the Special Tax obligation shall provide the City with written notice of intent to prepay. Within 30 days of receipt of such written notice, the City or its designee shall notify such owner of the prepayment amount for such Assessor’s Parcel. Prepayment must be made not less than 75 days prior to any redemption date for Bonds to be redeemed with the proceeds of such prepaid Special Taxes. Only full prepayments may be made; partial prepayments are not allowed.
The Prepayment Amount shall be calculated as follows (capitalized terms as defined below):
Bond Redemption Amount
plus Remaining Facilities Amount
plus Redemption Premium
plus Defeasance Requirement
plus Administrative Fees and Expenses
less Reserve Fund Credit (if applicable)
equals Prepayment Amount
As of the proposed date of prepayment, the Prepayment Amount shall be determined by application of the following steps:
Step 1. Compute the total Maximum Special Tax that could be levied on an Assessor’s Parcel, as if it were Developed Property (if not already Developed Property), whose owner is requesting to prepay the Special Tax in the Fiscal Year in which prepayment would be received by the City.
Step 2. Divide the Maximum Special Tax computed pursuant to Step 1 for such Assessor’s Parcel by the revenue that could be generated at the time of the prepayment if the Maximum Special Tax was levied on all Parcels, as if they were Developed Property (if not already Developed Property), inside CFD No. 2022-2.
Step 3. Multiply the quotient computed pursuant to Step 2 by the Outstanding Bonds to compute the amount of Outstanding Bonds to be retired and prepaid (the “Bond Redemption Amount”).
Step 4. Compute the current Remaining Facilities Costs (if any).
Step 5. Multiply the quotient computed pursuant to Step 2 by the amount determined pursuant to Step 4 to compute the amount of Remaining Facilities Costs to be prepaid (the “Remaining Facilities Amount”).
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Packet Pg. 179 Attachment: RMA (v1) - 08.15.2022[1] Baldwin Ranch CFD 2022-2 (Approve Resolutions and Ordinance for 2022-1 Infrastructure CFD for
WPFA CFD No. 2022-2 8 August 15, 2022
Step 6. Multiply the Bond Redemption Amount computed pursuant to Step 3 by the applicable redemption premium, if any, on the Outstanding Bonds to be redeemed (the “Redemption Premium”).
Step 7. Compute the amount needed to pay interest on the Bond Redemption Amount starting with the first Bond interest payment date after which the prepayment has been received until the earliest redemption date for the Outstanding Bonds. However, if Bonds are callable at the first interest payment date after the prepayment has been received, Steps 7, 8 and 9 of this prepayment formula will not apply.
Step 8: Compute the amount of interest the City reasonably expects to derive from reinvestment of the Bond Redemption Amount plus the Redemption Premium from the first Bond interest payment date after which the prepayment has been received until the redemption date for the Outstanding Bonds.
Step 9: Take the amount computed pursuant to Step 7 and subtract the amount computed pursuant to Step 8 (the “Defeasance Requirement”).
Step 10. Administrative fees and expenses of CFD No. 2022-2 are as calculated by the Administrator and include the costs of computing the prepayment, the costs of redeeming Bonds, and the costs of recording any notices to evidence the prepayment and the redemption (the “Administrative Fees and Expenses”).
Step 11. If and to the extent so provided in the Indenture, a reserve fund credit shall be calculated as a reduction in the applicable reserve fund for the Outstanding Bonds to be redeemed pursuant to the prepayment (the “Reserve Fund Credit”).
Step 12. The Special Tax prepayment is equal to the sum of the amounts computed pursuant to Steps 3, 5, 6, 9, and 10, less the amount computed pursuant to Step 11 (the “Prepayment Amount”).
Once a full prepayment of a Parcel’s Special Tax obligation has been received, a Notice of Cancellation of Special Tax Lien shall be recorded against the Parcel to reflect the discharge of the Parcel’s obligation to pay the Special Tax. However, a Notice of Cancellation of Special Tax Lien shall not be recorded until all Special Taxes levied on the Parcel in the current or prior Fiscal Years have been collected.
H. INTERPRETATION OF SPECIAL TAX FORMULA
The Authority reserves the right to make minor administrative and technical changes to this document that do not materially affect the rate and method of apportioning the Special Tax. In addition, the interpretation and application of any section of this document shall be left to the Authority’s
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Packet Pg. 180 Attachment: RMA (v1) - 08.15.2022[1] Baldwin Ranch CFD 2022-2 (Approve Resolutions and Ordinance for 2022-1 Infrastructure CFD for
WPFA CFD No. 2022-2 9 August 15, 2022
discretion. Interpretations may be made by the Authority by ordinance or resolution for purposes of clarifying any vagueness or ambiguity in this RMA.
I. APPEAL OF SPECIAL TAX LEVY
Any property owner claiming that the amount or application of the Special Tax is not correct may file a written notice of appeal with the Administrator not later than one calendar year after having paid the Special Tax that is disputed. The Administrator shall promptly review the appeal, and if necessary, meet with the property owner, consider written and oral evidence regarding the amount of the Special Tax, and decide the appeal. If the property owner disagrees with the Administrator’s decision relative to the appeal, the owner may then file a written appeal with the Board whose subsequent decision shall be binding. If the decision of the Administrator (if the appeal is not filed with the Board) or the Board (if the appeal is filed with the Board) requires the Special Tax to be modified or changed in favor of the property owner, no cash refund shall be made for prior years’ Special Tax levies, but an adjustment shall be made to the next Special Tax levy. This procedure shall be exclusive and its exhaustion by any property owner shall be a condition precedent to any legal action by such owner.
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Packet Pg. 181 Attachment: RMA (v1) - 08.15.2022[1] Baldwin Ranch CFD 2022-2 (Approve Resolutions and Ordinance for 2022-1 Infrastructure CFD for C
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Packet Pg. 182 Attachment: Baldwin Ranch North CFD Boundary Exhibit 11-15-2022 (Approve Resolutions and Ordinance for 2022-1 Infrastructure CFD for Baldwin Ranch North)