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Resolution 14881
CITYOFALAMEDARESOLUTIONNO.14881 DETERMININGTHENECESSITYTOINCURBONDEDINDEBTEDNESS WITHINTHECITYOFALAMEDACOMMUNITYFACILITIESDISTRICTNO. 13-1(ALAMEDALANDINGPUBLICIMPROVEMENTS)ANDSUBMITTING PROPOSITIONTOTHEQUALIFIEDELECTORSOFTHEDISTRICT WHEREAS,onDecember3,2013,thisCityCounciladoptedaresolution "DeclaringIntentiontoEstablishaCommunityFacilitiesDistrictandtoAuthorizetheLevyof SpecialTaxesTherein-AlamedaLandingPublicImprovements"(the"Resolutionof Intention")statingitsintentiontoformtheCityofAlamedaCommunityFacilitiesDistrictNo. 13-1(AlamedaLandingPublicImprovements)(the"District"),pursuanttotheCityof AlamedaSpecialTaxFinancingImprovementCode,AlamedaMunicipalCode3-70.1et seq.(the"Law"),tofundcostsofcertainpublicimprovements(the"Facilities")asdescribed therein;and WHEREAS,onDecember3,2013,thisCityCouncilalsoadoptedaresolution "DeclaringIntentiontoIncurBondedIndebtednessoftheProposedCityofAlameda CommunityFacilitiesDistrictNo.13-1(AlamedaLandingPublicImprovements)"(the "ResolutionofIntentiontoIncurIndebtedness")statingitsintentiontoincurbonded indebtednessoftheCityfortheDistrictforthepurposeoffinancingcostsoftheFacilities; and WHEREAS,theResolutionofIntentionandtheResolutionofIntentionto IncurIndebtednesscalledforpublichearingsontheDistricttobeheldonJanuary7,2014, andnoticesofthepublichearingswerepublishedasrequiredbytheLaw;and WHEREAS,onthisdate,thisCityCouncilheldthepublichearingasrequired bytheLawandtheResolutionofIntentionrelativetothedeterminationtoproceedwiththe formationoftheDistrict,theprovisionoffundsbytheDistricttopaycostsoftheFacilities, andtherateandmethodofapportionmentofthespecialtaxtobeleviedwithintheDistrict topaycostsoftheFacilities,theprincipalandinterestontheproposedindebtednessand theadministrativecostsoftheCityrelativetotheDistrict;and WHEREAS,atthehearingallpersonsdesiringtobeheardonallmatters pertainingtotheformationoftheDistrict,theprovisionoffundstopaycostsoftheFacilities andthelevyofthespecialtaxonpropertywithintheDistrictwereheardandafullandfair hearingwasheld;and WHEREAS,subsequenttothehearing,thisCityCounciladoptedaresolution "OfFormationoftheCityofAlamedaCommunityFacilitiesDistrictNo.13-1(Alameda LandingPublicImprovements),AuthorizingtheLevyofaSpecialTaxWithintheDistrict, PreliminarilyEstablishinganAppropriationsLimitfortheDistrict,andSubmittingLevyofthe SpecialTaxandtheEstablishmentoftheAppropriationsLimittotheQualifiedElectorsof theDistrict"(the"ResolutionofFormation");and WHEREAS,onthisdate,thisCityCouncilheldthepublichearingasrequired bytheLawrelativetotheResolutionofIntentiontoIncurIndebtedness;and WHEREAS,nowrittenprotestswithrespecttothematterssetforthinthe ResolutionofIntentiontoIncurIndebtednesshavebeenfiledwiththeCityClerk. NOW,THEREFORE,BEITRESOLVEDbytheCityCounciloftheCityofAlamedathat: 1.Theforegoingrecitalsaretrueandcorrect. 2.ThisCityCouncildeems it necessarytoincurbondedindebtednessinthe maximumaggregateprincipalamountof$20,000,000withintheboundariesoftheDistrict. 3.TheindebtednessincurredintheDistrictisforthepurposeoffinancing costsoftheFacilities,asprovidedintheResolutionofFormationincluding,butnotlimited to,thecostsofissuingandsellingbondstofinancecostsoftheFacilities,andtheinitial costsoftheCityinadministeringtheDistrict. 4.ThewholeoftheDistrictshallpayforthebondedindebtednessthrough thelevyofthespecialtax.Thespecialtaxistobeapportionedinaccordancewiththerate andmethodofapportionmentofspecialtaxsetforthinExhibitBtotheResolutionofIntention. 5.Themaximumprincipalamountofbondedindebtednesstobeincurredfor theDistrictis$20,000,000andthemaximumtermofthebondstobeissuedshallinno eventexceedfifty(50)years. 6.ThebondsfortheDistrictshallbearinterestatarateorratesnotto exceedthemaximuminterestratepermittedbyapplicablelawatthetimeofsaleofthe bonds,payableweekly,semiannuallyorinsuchothermannerasthisCityCouncilorits designeeshalldetermine,withtheactualrateorratesandtimesofpaymentofsuchinterest tobedeterminedbythisCityCounciloritsdesigneeatthetimeortimesofsaleofthebonds. Thepropositionofincurringthebondedindebtednesshereinauthorizedfor theDistrictshallbesubmittedtothequalifiedelectorsoftheDistrictandshallbe consolidatedwithelectionsonthepropositionoflevyingspecialtaxeswithintheDistrictand theestablishmentofanappropriationslimitfortheDistrictpursuanttoSection3-70.88of theLaw.Thetime,placeandconditionsofsaidelectionshallbeasspecifiedbyseparateresolutionofthisCityCouncil. 8.ThisResolutionshalltakeeffectuponitsadoption. ******* -2- I,theundersigned,herebycertifythattheforegoingResolutionwasdulyand regularlyadoptedandpassedbytheCounciloftheCityofAlamedainaregularmeeting assembledonthe ih dayofJanuary,2014,bythefollowingvotetowit: AYES:CouncilmembersChen,Oaysog,EzzyAshcraft,Tamand MayorGilmore-5. NOES: ABSENT: None. None. ABSTENTIONS:None. INWITNESS,WHEREOF,Ihavehereuntosetmyhandandaffixedthe officialsealofsaidCitythis ih dayofJanuary,2014. CityofAlameda -3-