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 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
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