Resolution 11682RESOLUTION NO. 1 1 6 8 2
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. 1
(Harbor Bay)
RESOLVED, by the City Council (the "Council ") of the City of Alameda (the "City "),
County of Alameda, State of California, that:
WHEREAS, on February 7, 1989, the Council adopted Resolution No. 11650,
entitled "A Resolution of Intention to Establish a Community Facilities District and to
Authorize the Levy of a Special Tax Pursuant to the Mello -Roos Act of 1982 -
Community Facilities District No. 1 (Harbor Bay)" (the "Resolution of Intention ") stating its
intention to form Community Facilities District No. 1 (Harbor Bay) (the "CFD "), of the City
pursuant to the Mello -Roos Community Facilities Act of 1982, as amended, (the "Act ");
and
WHEREAS, on February 7, 1989, the Council also adopted Resolution No. 11651,
entitled "A Resolution of Intention to Incur Bonded Indebtedness Pursuant to the Mello -
Roos Community Facilities Act of 1982 - Community Facilities District No. 1 (Harbor
Bay)" (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; and
WHEREAS, on this date, the 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 said facilities specified in the Resolution of Intention 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
Council relative to the CFD; and
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 and the levy of the
special tax on property within the CFD were heard and a full and fair hearing was held;
and
WHEREAS, subsequent to said hearing, the Council adopted Resolution
No. 11681, entitled "A Resolution of Formation Of Community Facilities District,
Authorizing The Levy Of A Special Tax Within The City, Preliminarily Establishing An
Appropriations Limit For The City And Submitting Levy Of The Special Tax To The
Qualified Electors Of The City - Community Facilities District No. 1 (Harbor Bay)" (the
"Resolution of Formation ") which described the facilities to be financed as shown in
Exhibit A to the Resolution of Formation (the "Facilities "); and
WHEREAS, on this date, the 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 and said hearing was formally closed; and
WHEREAS, written protests with respect to the matters material to the questions
set forth in the Resolution of Intention to Incur Indebtedness have not been filed with the
City Clerk by a majority of the registered voters nor by owners of a majority of the area of
land within the CFD as of the closing of said hearing.
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 $17,000,000 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 Council 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 $17,000,000
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 perrnitted by applicable law at the time of sale of the bonds, payable
semiannually or in such other manner as the Council shall determine, the actual rate or
rates and times of payment of such interest to be determined by the Council 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 voters 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 53353.5 of the Act. The time, place
and conditions of the conduct of said election shall be as specified by separate
resolution of the 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 21st of March, 1989,
by the following vote to wit:
AYES: Councilmembers Arnerich, Camicia, Monsef and
President Corica - 4.
NOES: Councilmember Thomas - 1.
ABSENT: None.
IN WITNESS WHEREOF, I have hereunto set my hand and
affixed the official seal of said City this 22nd day of
March, 1989.
City Clerk of the City of Alameda