EXHIBIT 3
FORM OF
NOTICE OF PUBLIC HEARING ON PROPOSED
COMMUNITY FACILITIES DISTRICT NO. 2024-1 (SOUTH STOCKTON FACILITIES AND
SERVICES)
CITY OF STOCKTON, SAN JOAQUIN COUNTY, CALIFORNIA
The City of Stockton is considering the formation of a community facilities district (the "CFD") under the authority of the Mello-Roos Community Facilities Act of 1982, as amended, to fund certain public facilities and services related to new development within the City of Stockton, and to incur bonded indebtedness of the CFD.
This Notice contains a brief summary of the proposal, but you are referred to the City Council's Resolution of Intention to Form a Community Facilities District and Levy a Special Tax Therein (No. ____ adopted ________, 2024) and its Resolution of Intention to Incur Bonded Indebtedness (No. ___ adopted ________, 2024) for details of the proposal.
The proposal is to subject the property within the CFD to a special tax which will be used to pay for facilities of benefit to land within the CFD, including paying principal and interest on bonds used to build facilities and to pay for certain public services, and will expire, as to the facilities component when the bonds are retired and all eligible facilities are financed. The proceeds of the bonds will be used to pay for the facilities and other expenses set forth in the resolutions referred to in the preceding paragraph. A map showing the land proposed to be included in the CFD is on file with the City Clerk.
The proposal also includes authority to issue bonds for the CFD, to be repaid by the special tax, in amounts specified in the resolution. Neither the City of Stockton nor any person outside the CFD has any liability for the special tax or the bonds. The security for the bonds is limited to the property subject to the special tax within the CFD.
In order to confer the authority upon the City Council of the City of Stockton to levy the Facilities Special Taxnd to issue the bonds, a public hearing must be held on the proposal, then the City Council will decide whether to form the CFD, and finally the qualified electors within the CFD must approve the proposal by a two-thirds vote. Where the CFD is uninhabited (as is the case here) the qualified electors are, pursuant to law, the owners of property within the CFD.
This is the notice of the public hearing. The public hearing will be held during the City Council meeting on Tuesday, November 12, 2024 at 5:30 p.m., in the Stockton City Hall Council Chambers located at 425 N. El Dorado Street, Stockton, California 95202.
At the hearing, the testimony of all interested persons or potential special taxpayers for or against the formation of the CFD, the authorization to levy the special tax, and the authorization to issue the bonds will be heard. If written protests against the proposed CFD are delivered to the City Clerk at or before the time set for the hearing by either registered voters residing within, or the owners of property within, the proposed CFD, they will be counted toward a possible majority protest. Such protests by a majority of the registered voters residing within CFD or by the owners of a majority of the land area within the CFD which is or will be subject to the special tax, if not withdrawn prior to the close of the hearing so as to reduce the value of the EXHIBIT 3
protests to less than a majority, will require the applicable proposed CFD to be eliminated from immediate consideration, and prevent its being included in a subsequent proceedings for at least one year.
If the Council, after the public hearing, determines that a majority protest under Section 53324 of the California Government Code was not made at the hearing, the Council may conduct an election by mailed or hand-delivered ballot to levy a special tax.
Questions should be directed to the undersigned, telephone (209) 937-8459.
Dated: ________, 2024
/s/ Katherine Roland
Interim City Clerk
City of Stockton
EXHIBIT 3