Resolution 12036RESOLUTION NO. 12036
A RESOLUTION DETERMINING THE NECESSITY TO INCUR BONDED
INDEBTEDNESS WITHIN COMMUNITY FACILITIES DISTRICT AND
SUBMITTING PROPOSITION TO THE QUALIFIED ELECTORS OF THE DISTRICT
CITY OF ALAMEDA
Community Facilities District No. 2
(Paragon Gateway)
RESOLVED, by the City Council of the City of Alameda (the "City ") that:
WHEREAS, on November 7, 1990, this City Council adopted a resolution entitled "A
Resolution of Intention to Establish a Community Facilities District and to Authorize the Levy of
Special Taxes" (the "Resolution of Intention ") stating its intention to form Community Facilities
District No. 2 (Paragon Gateway) (the "CFD "), of the City pursuant to Chapter 16 of Title III of
the Alameda Municipal Code (the "Act ");
WHEREAS, on November 7, 1990, this City Council also adopted a resolution entitled
"A Resolution of Intention to Incur Bonded Indebtedness" (the "Resolution of Intention to Incur
Indebtedness ") stating its intention to incur bonded indebtedness within the boundaries of the CFD
for the purpose of financing the costs of certain facilities specified in the Resolution of Intention;
WHEREAS, on this date, this City Council held a noticed public hearing as required by
the Act relative to the determination to proceed with the formation of the CFD, the provision of
facilities and services by the CFD and the rate and method of apportionment of the special tax to be
levied within the CFD to pay the principal and interest on the proposed indebtedness and the
administrative costs of the City relative to the CFD;
WHEREAS, at said hearing all persons desiring to be heard on all matters pertaining to
the formation of the CFD, the provision of said facilities (the "Facilities ") and the levy of the
special tax on property within the CFD were heard and a full and fair hearing was held;
WHEREAS, subsequent to said hearing, this City Council adopted a resolution entitled
"A Resolution Of Formation Of Community Facilities District, Authorizing The Levy Of A Special
Tax Within The District, Preliminarily Establishing An Appropriations Limit For The District And
Submitting Levy Of The Special Tax And The Establishment of The Appropriations Limit To The
Qualified Electors Of The District" (the "Resolution of Formation ");
WHEREAS, on this date, this City Council 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 to
Incur Indebtedness;
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 City Clerk.
NOW, THEREFORE, IT IS HEREBY ORDERED as follows:
1. The foregoing recitals are true and correct.
2. It is necessary to incur bonded indebtedness in the maximum aggregate principal
amount of $2,100,000 within the boundaries of the CFD.
3. The indebtedness is incurred for the purpose of financing the costs of the Facilities, as
provided in the Resolution of Formation including, but not limited to, the costs of issuing and
selling bonds to finance the Facilities and the costs of the City in administering the CFD.
4. 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.
5. The maximum amount of bonded indebtedness to be incurred is $2,100,000 and the
maximum term of the bonds to be issued shall in no event exceed forty (40) years.
6. The bonds shall bear interest at rate or rates not to exceed the maximum interest rate
permitted by applicable law at the time of sale of the bonds, payable semiannually or in such other
manner as this City Council or its designee shall determine, the actual rate or rates and times of
payment of such interest to be determined by this City Council or its designee at the time or times
of sale of said bonds.
7. 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 3 -16216 of the Act. The time, place and conditions of said
election shall be as specified by separate resolution of this City Council.
* * * * * * * * * * * *
I, the undersigned, hereby certify that the foregoing Resolution
was duly and regularly adopted and passed by the Council of the
City of Alameda in regular meeting assembled on the twentieth day
of November, 1990, by the following vote to wit:
AYES: Councilmembers Arnerich, Camicia, Thomas,
Withrow and President Corica - 5.
NOES: None.
ABSENT: None.
ABSTENTIONS: None.
IN WITNESS, WHEREOF, I have hereunto set my hand and affixed the
official seal of said City this twenty-first day of November,
1990.
Diane Misch, City Clerk
City of Alameda