Resolution Correction
Content
Text of the Resolution of Consideration: RESOLUTION NO. 9680 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF INDIO, CALIFORNIA, ACTING AS LEGISLATIVE BODY OF THE CITY OF INDIO COMMUNITY FACILITIES DISTRICT NO. 2004-3 (TERRA LAGO), TO CONSIDER ALTERATIONS TO THE RATE AND METHOD OF APPORTIONMENT OF SPECIAL TAX FOR IMPROVEMENT AREA NO. 1 SPECIAL TAXES. WHEREAS, in 2005, the City Council (the "City Council") of the City of Indio, California (the "City"), conducted proceedings in accordance with the Mello-Roos Community Facilities Act of 1982, as amended, commencing with Section 53311 of the California Government Code (the "Act"), for the establishment of the City of Indio Community Facilities District No. 2004-3 (Terra Lago) (the "District"), and, by its Resolution No. 8956, adopted on May 18, 2005, and in accordance with the Act, designated portions of the District as Improvement Area No. 1 and Improvement Area No. 2; and WHEREAS, the City’s Resolution No. 8957 on May 18, 2005 determined that, in order to finance the Facilities it is necessary to incur bonded indebtedness in the amounts not to exceed $30,000,000 and $30,000,000 for Improvement Area No. 1 and Improvement Area No. 2, respectively, the repayment of which is to be secured by special taxes levied in accordance with Section 53340 et seq. of the Act on all property within the respective Improvement Areas, other than those properties exempted from taxation as provided in the respective rate and method of apportionment (“RMA”). WHEREAS, on July 20, 2005, the City Council established the District pursuant to its Resolution No. 9025 (the "Resolution of Formation"), which, among other things, specified a rate and method of apportionment of special taxes (the “RMA") for the respective special taxes to be levied on property within Improvement Area No. 1 and Improvement Area No. 2, as applicable; and WHEREAS, on July 20, 2005, the City Council established the District pursuant to its Resolution No. 9026, called for a special election of the landowners of Improvement Area 1 and Improvement Area 2. WHEREAS, on July 20, 2005, the City Council established the District pursuant to its Resolution No. 9027, canvassed the results of the elections for Improvement Area 1 and Improvement Area 2 to imposed the special tax and place the lien on the properties of Improvement Area 1 and Improvement Area 2 as Riverside County Instrument No. 2005-0603064. WHEREAS, on August 2, 2006 the City Council to initiated proceedings to issues bonds for Improvement Area No. 2 of Indio Community Facilities District No. 2004-3 (Terra Lago) and to approve a “Deposit and Reimbursement Agreement”. pursuant to Resolution No. 9144-A, In consideration of initiating the proceedings for Improvement Area 2 by a second 100% landowner vote, an additional $3,000,000 was added for the cost of a fire station once the $33,000,000 bond
offering funded. Section 3. States: “The owner acknowledged and agrees that the issuance of the Bonds shall be in the sole discretion of the City.” WHEREAS, on September 4, 2013, registered voters residing in Improvement Area No. 1 of the District (the "Petitioners") filed with the City Clerk of the City a petition to amend the Original RMA (the "Petition"); and WHEREAS, on September 24, 2013, the County Registrar of Voters certified that (i) the total number of registered voters residing within Improvement Area No. 1 of the District is 526, (ii) of the 280 signatures submitted for the Petition, 239 signatures were valid signatures and 41 signatures were invalid, and (iii) the number of valid signatures, 239, exceeds 25% of the 526 total registered voters residing within Improvement Area No. 1 of the District; and WHEREAS, the Petition makes the following request within Improvement Area No. 1, that the Original RMA be amended so that undeveloped property pays into the tax and that recalculation of the rate and method of apportionment take into account the payment of $3,000,000 from the special escrow account used to redeem special escrow term bonds previously issued by the District for Improvement Area No. 1; and WHEREAS, the Petition makes the following request pertaining to Improvement Area No. 2 of the District either directly or indirectly pay an amount to compensate Improvement Area No. l's special tax burden going forward, listing a number of "benefits . . . whose real intents were specific for Improvement Area 2"; and WHEREAS, the City believes, Section 53350 precludes the Petitioners, as residents of Improvement Area No. 1, and the Petition from proposing a change to the portions of the Original RMA that apply to Improvement Area No. 2, and prohibits the City from considering the Improvement Area 2 Specific Requests set forth in the Petition; and WHEREAS, on January 16, 2014, the Finance Director of the City calculated the forensic audit and RMA Petition fee would total $77,000, pursuant to paragraph (b) of Section 53332 of the Act. It was further determined that such fee would come from the surplus monies remaining in the Acquisition and Construction Fund established by the Fiscal Agent Agreement, dated as of September 1, 2005, with respect to the Bonds, as authorized and directed by the City Council; and WHEREAS, as to the Improvement Area 1 Specific Requests, the City has caused to be prepared a proposed "City of Indio Community Facilities District No. 2004-3 (Terra Lago) (Improvement Area No. 1) Amendment to Rate and Method of Apportionment" (the "RMA Amendment"), which is set forth in Exhibit "A" attached hereto and is incorporated herein by reference.The cost of the audit was only $18,000 and that no full forensic accounting was indicated. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF INDIO, ACTING AS LEGISLATIVE BODY OF THE CITY OF INDIO COMMUNITY FACILITIES DISTRICT NO. 2004-3 (TERRA LAGO), DOES HEREBY RESOLVE, DETERMINE, AND ORDER AS FOLLOWS:
Section 1. The name of the improvement area to which the Petition applies is Improvement Area No. 1 of City of Indio Community Facilities District No. 2004-3 (Terra Lago). Section 2. The territory included in Improvement Area No. 1 of the District is as shown on the improvement areas map included in the Original Notice of Special Tax Lien, recorded in the Official Records of the Riverside County Recorder on July 28, 2005, as Document No. 2005-0603064, which map is hereby incorporated by reference. Section 3. The alterations proposed to be made to the Original RMA in furtherance of the Improvement Area 1 Specific Requests are reflected in the proposed RMA Amendment set forth in Exhibit "A". Section 4. A public hearing (the "Hearing") will be held by the City Council at 5:00 p.m., or as soon thereafter as possible, on Wednesday, March 19, 2014, at the City of Indio City Hall Council Chambers, 150 Civic Center Mall, Indio, California 92201, to consider and determine whether to submit the question of altering the rate and method of apportionment of special tax for Improvement Area No. 1 of the District as described above to the qualified electors of Improvement Area No. 1 of the District. Section 5. The City Clerk is hereby directed to publish a notice (the "Notice") of the Hearing pursuant to Section 6061 of the California Government Code in a newspaper of general circulation published in Improvement Area No. 1 of the District. Such Notice shall be substantially in the form specified in Section 53335 of the Act. Publication of the Notice shall be completed at least 7 days prior to the date of the Hearing. Section 6. The City Clerk is hereby directed to send a copy of the Notice of the Hearing by first-class mail, postage prepaid, to each registered voter and to each landowner within Improvement Area No. 1 of the District as shown on the last equalized assessment roll. Mailing of the Notice shall be completed at least 15 days prior to the Hearing. Section 7. At the conclusion of the Hearing, should the City Council determine to submit the question of altering the rate and method of apportionment of special tax •for Improvement Area No. 1 of the District to the qualified electors of Improvement Area No. 1 of the District, the proposed voting procedure at the election will be a vote by the registered voters residing in Improvement Area No. 1 of the District, with each registered voter having one vote, held at least 90 days but not more than 180 days following the close of the Hearing. Ballots for the special election may be distributed by mail with return postage prepaid or by personal service. EXHIBIT "A" PROPOSED AMENDMENT TO RATE AND METHOD OF APPORTIONMENT City of Indio Community Facilities District No. 2004-3 (Terra Lago) (Improvement Area No. 1) AMENDMENT TO RATE AND METHOD OF APPORTIONMENT
offering funded. Section 3. States: “The owner acknowledged and agrees that the issuance of the Bonds shall be in the sole discretion of the City.” WHEREAS, on September 4, 2013, registered voters residing in Improvement Area No. 1 of the District (the "Petitioners") filed with the City Clerk of the City a petition to amend the Original RMA (the "Petition"); and WHEREAS, on September 24, 2013, the County Registrar of Voters certified that (i) the total number of registered voters residing within Improvement Area No. 1 of the District is 526, (ii) of the 280 signatures submitted for the Petition, 239 signatures were valid signatures and 41 signatures were invalid, and (iii) the number of valid signatures, 239, exceeds 25% of the 526 total registered voters residing within Improvement Area No. 1 of the District; and WHEREAS, the Petition makes the following request within Improvement Area No. 1, that the Original RMA be amended so that undeveloped property pays into the tax and that recalculation of the rate and method of apportionment take into account the payment of $3,000,000 from the special escrow account used to redeem special escrow term bonds previously issued by the District for Improvement Area No. 1; and WHEREAS, the Petition makes the following request pertaining to Improvement Area No. 2 of the District either directly or indirectly pay an amount to compensate Improvement Area No. l's special tax burden going forward, listing a number of "benefits . . . whose real intents were specific for Improvement Area 2"; and WHEREAS, the City believes, Section 53350 precludes the Petitioners, as residents of Improvement Area No. 1, and the Petition from proposing a change to the portions of the Original RMA that apply to Improvement Area No. 2, and prohibits the City from considering the Improvement Area 2 Specific Requests set forth in the Petition; and WHEREAS, on January 16, 2014, the Finance Director of the City calculated the forensic audit and RMA Petition fee would total $77,000, pursuant to paragraph (b) of Section 53332 of the Act. It was further determined that such fee would come from the surplus monies remaining in the Acquisition and Construction Fund established by the Fiscal Agent Agreement, dated as of September 1, 2005, with respect to the Bonds, as authorized and directed by the City Council; and WHEREAS, as to the Improvement Area 1 Specific Requests, the City has caused to be prepared a proposed "City of Indio Community Facilities District No. 2004-3 (Terra Lago) (Improvement Area No. 1) Amendment to Rate and Method of Apportionment" (the "RMA Amendment"), which is set forth in Exhibit "A" attached hereto and is incorporated herein by reference.The cost of the audit was only $18,000 and that no full forensic accounting was indicated. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF INDIO, ACTING AS LEGISLATIVE BODY OF THE CITY OF INDIO COMMUNITY FACILITIES DISTRICT NO. 2004-3 (TERRA LAGO), DOES HEREBY RESOLVE, DETERMINE, AND ORDER AS FOLLOWS:
Section 1. The name of the improvement area to which the Petition applies is Improvement Area No. 1 of City of Indio Community Facilities District No. 2004-3 (Terra Lago). Section 2. The territory included in Improvement Area No. 1 of the District is as shown on the improvement areas map included in the Original Notice of Special Tax Lien, recorded in the Official Records of the Riverside County Recorder on July 28, 2005, as Document No. 2005-0603064, which map is hereby incorporated by reference. Section 3. The alterations proposed to be made to the Original RMA in furtherance of the Improvement Area 1 Specific Requests are reflected in the proposed RMA Amendment set forth in Exhibit "A". Section 4. A public hearing (the "Hearing") will be held by the City Council at 5:00 p.m., or as soon thereafter as possible, on Wednesday, March 19, 2014, at the City of Indio City Hall Council Chambers, 150 Civic Center Mall, Indio, California 92201, to consider and determine whether to submit the question of altering the rate and method of apportionment of special tax for Improvement Area No. 1 of the District as described above to the qualified electors of Improvement Area No. 1 of the District. Section 5. The City Clerk is hereby directed to publish a notice (the "Notice") of the Hearing pursuant to Section 6061 of the California Government Code in a newspaper of general circulation published in Improvement Area No. 1 of the District. Such Notice shall be substantially in the form specified in Section 53335 of the Act. Publication of the Notice shall be completed at least 7 days prior to the date of the Hearing. Section 6. The City Clerk is hereby directed to send a copy of the Notice of the Hearing by first-class mail, postage prepaid, to each registered voter and to each landowner within Improvement Area No. 1 of the District as shown on the last equalized assessment roll. Mailing of the Notice shall be completed at least 15 days prior to the Hearing. Section 7. At the conclusion of the Hearing, should the City Council determine to submit the question of altering the rate and method of apportionment of special tax •for Improvement Area No. 1 of the District to the qualified electors of Improvement Area No. 1 of the District, the proposed voting procedure at the election will be a vote by the registered voters residing in Improvement Area No. 1 of the District, with each registered voter having one vote, held at least 90 days but not more than 180 days following the close of the Hearing. Ballots for the special election may be distributed by mail with return postage prepaid or by personal service. EXHIBIT "A" PROPOSED AMENDMENT TO RATE AND METHOD OF APPORTIONMENT City of Indio Community Facilities District No. 2004-3 (Terra Lago) (Improvement Area No. 1) AMENDMENT TO RATE AND METHOD OF APPORTIONMENT
