HomeMy WebLinkAboutRESOLUTIONS - 01012002 - 2002-542 4,
RESOLUTION NO. ,=4542
A RESOLUTION OF INTENTION TO ESTABLISH A COMMUNITY
FACILITIES DISTRICT AND TO AUTHORIZE THE LEVY OF SPELL 1
TAXES PURSUANT TO THE MELLO-ROOS COMMUNI'T'Y FACILITIES
.ACT OF 1982
County of Contra Costa
Community Facilities District No. 2002-1
(Renaissance C1ubSport Public Improvements)
that: RESOLVED by the Board of Supervisors of the County of Contra Costa (the "County")
WHEREAS, this Board of Supervisors has received a written petition (the "Petition")
from the owners of all of an area of land proposed to be included within a community facilities
district (the "District"), the proceedings for the formation of which District are as hereafter
provided; and
WHEREAS, under the Mello-Roos Community Facilities Act of 1982, as amended (the
"Act"), Chapter 2.5 of Part 1 of Division 2 of Title S, commencing at Section 53311, of the
California Government Code, this Board of Supervisors is the legislative body for the proposed
District and is empowered with the authority to establish the District; and
WHEREAS, this Board of Supervisors now desires to proceed with the establishment of
the District;and
WHEREAS, it has been proposed that WC Walnut Creek L.L.C., a Delaware limited
liability company (the "Developer"), construct various public improvements proposed to be
financed by the District and have such improvements acquired with District bond proceeds,and
an Acquisition Agreement has been prepared to be entered into by the County and the
Developer providing for such construction and acquisition(the"Acquisition Agreement");and
WHEREAS,this Board of Supervisors now desires to approve the Acquisition Agreement
so that the public improvements to be financed by the District can be completed and conveyed
to the County pending completion of the District proceedings.
NOW,THEREFORE, IT IS HERESY ORDERED as follows:
Section 1. This Board of Supervisors proposes to conduct proceedings to establish a
community facilities district pursuant to the Act.
Section 2. The name proposed for the District is County of Contra Costa Community
Facilities District No. 2002-1(Renaissance C1ubSport Public Improvements).
Section 3. The proposed boundaries of the District are as shown on the map of the
District on file with the Clerk of the Board,which boundaries are hereby preliminarily approved
and to which map reference is hereby made for further particulars. The Clerk of the Board is
hereby directed to record., or cause to be recorded, the map of the boundaries of the District in
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(a)A description of the Facilities,Fees and Prior Liens to be funded by the District.
(b) An estimate of the fair and reasonable cost of funding the Facilities, Fees and Prior
Liens including the incidental expenses in connection therewith, including the costs of the
proposed bond financing and all other related costs as provided in Section 53345.3 of the Act.
Said report shall be made a part of the record of the public hearing provided for below.
Section lo. Tuesday, October 15, 2002,at 11:00 a.m. or as soon thereafter as the matter
may be heard, in the Board Chambers, Room 107, 651 Pine Street,Martinez, California,-be, and
the same are hereby appointed and fixed as the time and place when and where this Board of
Supervisors, as legislative body for the District, will conduct a public hearing on the
establishment of the District and consider and finally determine whether the public interest,
convenience and necessity require the formation of the District and the levy of said special taxes.
Section 11. The Deputy Director - Redevelopment is hereby directed to cause notice of
said public hearing to be given by publication one time in a newspaper published in the area of
.the District. The publication of said notice shall be completed at least seven days before the date
herein set for said hearing. Said notice shall be substantially in the form of Exhibit C hereto.
Section 12. The County proposes to repay, solely from the proceeds of bonds of the
County issued for the District,funds advanced to pay costs of the County to form the District,or
to pay the Fees.
Section 13. The Acquisition Agreement, in the form on Me with the Deputy Director —
Redevelopment, is hereby approved. The Deputy Director — Redevelopment is hereby
authorized and directed, for and on behalf of the County and the District, to execute and deliver
the Acquisition Agreement in such form,together with such additions thereto or changes therein
as the Deputy Director — Redevelopment, upon consultation with Bond Counsel to the County
for the District, shall approve, the approval of such additions or changes to be conclusively
evidenced by the execution and delivery of the Acquisition Agreement by the Deputy Director
Redevelopment.
Section 14. This Board of Supervisors reserves to itself the right and authority to allow
any interested owner of property in the District, subject to the provisions of Section 53344.1 of
'the Act and such requirements as it may otherwise impose, and any applicable prepayment
penalties as prescribed in the indenture or fiscal agent agreement for any bonds of the County
for the District, to tender to the Deputy Director-Redevelopment or designee (who shall remit
the same to the County Treasurer) in full payment or part payment of any installment of special
taxes for the District or the interest or penalties thereon which may be due or delinquent,but for
which a bill has been received, any bond or other obligation secured.thereby, in the manner
described in Section 53344.1 of the Act.
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Section 15. The firm of Quint&Thimmig LLP,is hereby designated as bond counsel and
disclosure counsel for the District and any bonds issued by the County for the District,the firm
of Goodwin Consulting Group, Inc. is hereby designated as special tax consultant to the County
for the District, and the firm of Stone&Youngberg LLC is hereby designated as underwriter for
any bonds issued by the County for the District. The Deputy Director-Redevelopment is hereby
authorized to execute agreements with said firms for their services related to the District and
any bonds issued by the County for the District, in form and substance acceptable to the Deputy
Director-Redevelopment.
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Section 16. This Resolution shall take effect upon its adoption.
I hereby certify that the foregoing Resolution was duly adopted by the Board of
Supervisors of Contra Costa County, California, at a regularly scheduled meeting thereof, held
on the 10th day of September,2002,by the following note of the Board:
AYES: MMMMS UIYIO M, MM, Dp.SMM, aMM ASID GIOIA
NOES: NM
ABSENT:
ATTEST: September 10, 2002
Clerk of the Board of Supervisors and
County Administrator
Deputy
03007.io:J6343
08/27/02
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EXHIBIT A
DESCRIPTION OF PRIOR LIENS, PUBLIC FEE OBLIGATIONS AND
PUBLIC IMPROVEMENTS TO BE FINANCED AND/OR
REFINANCED BY THE DISTRICT
Dara lign Esdmated Cost
1. Liens imposed by Contra Costa County Assessment District Nos. 1991-2 $462,000
and x987-1
2. Contra Costa Water District Public Capital Improvement Fee Levied in $455,6o9
Respect of Development of the Property
3. Central Contra Costa Sanitary District Public Capital Improvement Fee $676,365
Levied in Respect of Development of the Property
Ii 4. Public Infrastructure Improvements,including water mains,road $677,886
construction,traffic signals
5. Right-of-Way for Public Infrastructure Improvements $390,000
The District may also finance any of the following:
A. Bond related expenses, including underwriter's discount, reserve fund, capitalized
interest,bond and disclosure counsel fees and expenses,and all other incidental expenses.
B. Administrative fees of the County and any fiscal agent related to the District and the
bonds.
C. Reimbursement of costs related to the formation of the District advanced by the
County, any landowner or lessee of the Property, or any party related to any
of the foregoing, as well as reimbursement of any costs advanced by the
County, any landowner or lessee of the Property in the District or any party
related to any of the foregoing,for facilities,fees or other purposes or costs of
the District.
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EXHIBIT B
RATE AND METHOD OF APPORTIONMENT OF SPECIAL TAX
A Special Tax applicable to each Assessor's Parcel in Community Facilities District No.
2002-1 (herein "CFD No. 2002-1") shall be levied and collected according to the tax liability
determined by the Board of Supervisors of the County of Contra Costa or its designee, as
described below. All of the property in CFD No. 2002-1, unless exempted by law or by the
provisions of Section E below, shall be taxed for the purposes,to the extent, and in the manner
herein provided.
A. DEFTNI ONS
The terms hereinafter set forth have the following meanings:
"Acre or Acreage" means the land area of an Assessor's Parcel as shown on an Assessor's
Parcel Map,or if the land area is not shown on an Assessor's Parcel Map, the land area shown on
the applicable final snap,parcel map, or other recorded County parcel map.
"Act" means the Mello-Roos Community Facilities Act of 1982, as amended, being
Chapter 2.5 (commencing with Section 53311), Division 2 of Title 5 of the Government Code of
the State of California.
"Administrative Expenses" means any or all of the following: the fees and expenses of
any fiscal agent or trustee (including any fees and expenses of its counsel) employed in
connection with any Bonds; any costs associated with the marketing or remarketing of the
Bonds; the expenses of the Administrator and the County in carrying out their respective duties
under any fiscal agent agreement, indenture or resolution with respect to the Bonds or CFD No.
2002-1, including, but not limited to, the levy and collection of the Special Tax, the fees and
expenses of legal counsel, charges levied by the County or any division or office thereof in
connection with the levy and collection of Special Taxes, audits, continuing disclosure or other
amounts needed to pay arbitrage rebate to the federal government with respect to Bonds; costs
associated with complying with continuing disclosure requirements; costs associated with
responding to public inquiries regarding Special Tax levies and appeals; attorneys' fees and
other costs associated with commencement or pursuit of foreclosure for delinquent Special
Taxes; costs associated with overhead expense allocations to CFD No. 2002-1; and all other
costs and expenses of the County, the Administrator, and any fiscal agent, escrow agent or
trustee related to the administration of CFD No. 2002-1.
"Administrator"shall mean the person or firm designated by the Board to administer the
Special Tax according to this Rate and Method of Apportionment of Special Tax.
"Assessor's Parcel"or"Parcel" means a lot or parcel shown on an Assessor's Parcel Map
with an assigned Assessor's Parcel number.
"Assessor's Parcel Map" means an official map of the County Assessor of the County of
Contra Costa designating parcels by Assessor's Parcel Number.
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"Bonds" means any bonds or other debt (as defined in Section 53317(d) of the Act),
whether in one or more series,issued by CFD No. 2002-1 under the Act.
"Board"means the Board of Supervisors of the County of Contra Costa.
"County"means the County of Contra Costa.
"Fiscal Year'means the period starting July 1 and ending on the following June 30.
"Maximum Special Tax" means the maximum amount of Special Tax, determined in
accordance with Section B below,that can be levied in any Fiscal Year.
"Original Parcels" means the two Assessor's Parcels identified in Fiscal Year 2002-03 by
Assessor's Parcel numbers 172-020-046 and 172-020-047.
"Proportionately"means,in any Fiscal Year,that the ratio of the actual Special Tax to the
Maximum Special Tax is equal for all Assessor's Parcels of Taxable Property within the CFD.
"Public Property" means any property within the boundaries of CFD No. 2002-1 that is
owned by or irrevocably offered for dedication to the federal government, State of California or
other local governments or public agencies.
"Special Tax" means a special tax levied in any Fiscal Year that will be used to pay the
Special Tax Requirement, as defined below.
"Special Tax Requirement" means the total amount needed each Fiscal Year to (i) pay
principal and interest on Bonds in the calendar year commencing in such Fiscal Year, (ii) create
or replenish reserve funds,(iii)cure any delinquencies in the payment of principal or interest on
indebtedness of CFD No. 2002-1 which have occurred in the prior Fiscal Year or (based on
delinquencies in the payment of Special Taxes which have already taken place) are expected to
occur in the Fiscal Year in which the tax will be collected, and(iv)pay Administrative Expenses.
"Successor Parcel" means a Parcel of Taxable Property created from subdivision, lot line
adjustment or reconfiguration of an Original Parcel.
"Taxable Property" means all Parcels within the boundary of CFI)No. 2002-1 which are
not exempt from the Special Tax pursuant to law or Section E below.
B. MAXIMUM SPECIAL TAX
Following is the Maximum Special Tax, assigned to each Original Parcel in CFD No.
2002-1:
Fiscal Year 2002-03
Assessor's Parcel Number Maximum Special Tax
172-020-046 ---,---
172-020-047 $---,---
If an Original Parcel is subdivided or reconfigured, the Administrator shall assign the
Maximum Special Tax to Successor Parcels by applying the following steps;
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Step 1. Determine the Acreage of Taxable Property within Successor Parcels created
from subdivision or reconfiguration of the Original Parcel(s).
Step 2. Divide the Maximum Special Tax assigned to the Original Parcel(s) by the
number of taxable acres determined in Step 1 to determine a Maximum
Special Tax per acre.
Step 3. Multiply the Maximum Special Tax per acre determined in Step 2 by the
Acreage of each Successor Parcel of Taxable Property to determine the
Maximum.Special flax for each Parcel.
If a Successor Parcel is further subdivided or reconfigured, Steps 1 through 3 above shall
be applied to determine the Maximum Special Tax for the Parcels created from that Successor
Parcel. If an Original Parcel or a Successor Parcel is assigned a different Assessor's Parcel
number, the Maximum Special Tax assigned to that Parcel shall continue to apply. The
Administrator shall keep a current inventory of Parcels and Assessor's Parcel numbers within
the CFD.
C. METHOD OF LEVY AND COLLECTION OF TIME SPECIAL TAX
Each Fiscal Year, the Administrator shall determine the Special Tax Requirement for
that Fiscal Year. The Special Tax shall then be levied Proportionately on each Parcel of Taxable
Property up to i00% of the Maximum Special Tax assigned to each Parcel until the amount
levied is equal'to the Special Tax Requirement _
D. ' MANNER OF COLLECTION
Special Taxes for CFD No. 2002-1 shall be collected in the same manner and at the same
II time as ordinary ad valorem property taxes,provided, however,that prepayments are permitted
as set forth in Section F below and provided further that the County may directly bill the Special
Tax, may collect Special Taxes at a different time or in a different manner, and may collect
delinquent Special Taxes through foreclosure or other available methods.
E. EXEMPTIONS
Notwithstanding any other provision of this Rate and Method of Apportionment of
Special Tax,no Special Taxes shall be levied on Public Property, except as otherwise provided in
Sections 53317.3 and 53317.5 of the Act.
F. PREPAYMENT OF SPECIAL TAX
The following definitions apply to this Section F:
"Future Facilities Costs" means the Public Facilities Requirements (as defined below)
minus public facility costs funded by Previously Issued Bonds, interest earnings on the
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construction fund actually earned prior to the date of prepayment, Special Taxes, developer
equity, and/or any other source of funding.
"Outstanding Bonds"means all Previously Issued Bonds which remain outstanding,with
the following exception: if a Special Tax has been levied against, or already paid by, an
Assessor's Parcel malting a prepayment, and a portion of the Special Tax will be used to pay a
portion of the next principal payment on the Bonds that remain outstanding (as determined by
the Administrator), that next principal payment shall be subtracted from the total Bond
principal that remains outstanding, and the difference shall be used as the amount of
"Outstanding Bonds"for purposes of this prepayment formula.
"Previously Issued Bonds" means all Bonds that have been issued by CFD No. 2002-1
prior to the date of prepayment.
"Public Facilities Requirements" means either $-,---,--- in 2002 dollars, which shall
increase by three percent (g%) on January 1, 2002, and on each January 1 thereafter, or such
lower number as shall be determined by the County as sufficient to fund public facilities to be
provided by CFD No. 2002-1 under the authorized bonding program for CFD No. 2002-1.
The Special Tax obligation applicable to an Assessor's Parcel in CFD No. 2002-1 may be
prepaid and the obligation of the Assessor's Parcel to pay the Special Tax permanently satisfied
as described herein, provided that a prepayment may be made only if there are no delinquent
Special Taxes with respect to such Assessor's Parcel at the time of prepayment. An owner of an
Assessor's Parcel intending to prepay the Special Tax obligation shall provide the County with
written notice of intent to prepay. Within So days of receipt of such written notice, the County
shall notify such owner of the prepayment amount of.such Assessor's Parcel. Prepayment must
be made not less than 75 days prior to any interest payment date for Bonds to be redeemed with
the proceeds of such prepaid Special Taxes.
The Prepayment Amount shall be calculated as follows (capitalized terms as defined
below):
Bond Redemption Amount
Plus Future Facilities Amount
Plus Redemption Premium
Plus Defeasance
Plus Administrative Fees and Expenses
Reserve Fund Credit
equals Prepayment Amount
As of the proposed date of prepayment, the Prepayment Amount shall be determined by
application of the following steps:
Step 1: Compute the total Maximum Special Tax that could be collected from the
Assessor's Parcel prepaying the Special Tax in the Fiscal Year in which
prepayment would be received by the County.
Step 2: Divide the Maximum Special Tax computed pursuant to Step 1 for such
Assessor's Parcel by the Maximum Special. Tax revenues that could be
collected in that Fiscal Year from property in the entire CFD.
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Step 3: Multiply the quotient computed pursuant to Step 2 by the Outstanding Bonds
to compute the amount of Outstanding Bonds to be retired and prepaid. (the
"bond Redemption Amount").
Step 4: Compute the current Future Facilities Costs.
Step g: Multiply the quotient computed pursuant to Step 2 by the amount
determined pursuant to Step 4 to compute the amount of Future Facilities
Costs to be prepaid(the"Future Facilities Amount").
Step b: Multiply the Bond Redemption Amount computed pursuant to Step 3 by the,
applicable redemption premium, if any, on the Outstanding Bonds to be
redeemed(the"Redemption Premium").
Step 7: Compute the amount needed to pay interest on the Bond Redemption
Amount starting with the first Bond interest payment date after which the
prepayment has been received until the earliest redemption date for the
Outstanding Bonds. However, if Bonds are callable at the first interest
payment date after the prepayment has been received, Steps 7, 8 and 9 of this
prepayment formula will not apply.
Step 8: Compute the amount of interest the County reasonably expects to derive from
reinvestment of the Bond Redemption Amount plus the Redemption
Premium from the first Bond interest payment date after which the
prepayment has been received until the redemption date for the Outstanding
Bonds. --
Step g: Take the amount computed pursuant to Step 7 and subtract the amount
computed pursuant to Step 8(the"Defeasance").
Step io: The administrative fees and expenses of CFD No. 2002-1 are as calculated by
the County and include the costs of computation of the prepayment,the costs
of redeeming Bonds, and the costs of recording any notices to evidence the
prepayment and the redemption(the"Administrative Fees and Expenses").
Step 11: A reserve fund credit shall be calculated as the reduction, if any, in the
applicable reserve fund for the Outstanding Bonds to be redeemed pursuant
to the prepayment(the"Reserve Fund Credit").
Step 12: The Special Tax prepayment is equal to the sum of the amounts computed
Pursuant to Steps 3, 6, 6, g, and io, less the amount computed pursuant to
Step 11 (the"Prepayment Amount").
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EXHIBIT C
NOTICE OF PUBLIC HEARING
Notice is hereby given that on September 10, 2002, the Board of Supervisors of the
County of Contra Costa adopted a Resolution entitled"A Resolution of Intention To Establish A
Community Facilities District And To Authorize The Levy of Special Taxes Pursuant To The
Mello-Roos Community Facilities Act of 1982". Pursuant to the Mello-Roos Community
Facilities Act of 1982(the"Act")the Board of Supervisors hereby gives notice as follows:
A.The text of said Resolution of Intention is as follows:
RESOLVED by the Board of Supervisors of the County of Contra Costa (the
"County")that.
WHEREAS, this Board of Supervisors has received a written petition (the
"Petition") from the owners of all of an area of land proposed to be included within a
community facilities district (the"District"), the proceedings for the formation of which
District are as hereafter provided;and
WHEREAS,under'the Mello-Roos Community Facilities Act of 1982,as amended
(the"Act"), Chapter 2.5 of Part 1 of Division 2 of Title g, commencing at Section,53311,of
the California Government Code,this Board of Supervisors is the legislative body for the
proposed District and is empowered with the authority to establish the District;and
WHEREAS, this Board of Supervisors now desires to proceed with the
establishment of the District; and
WHEREAS, it has been proposed that WC Walnut Creek L.L.C., a Delaware
limited liability company (the "Developer"), construct various public improvements
proposed to be financed by the District and have such improvements acquired with.
District bond proceeds, and an Acquisition Agreement has been prepared to be entered
into by the County and the Developer providing for such construction and acquisition
(the"Acquisition Agreement"); and
WHEREAS, this Board of Supervisors now desires to approve the Acquisition
Agreement so that the public improvements'to be financed by the District can be
completed and conveyed to the County pending completion of the District proceedings.
NOW,THEREFORE, IT IS HEREBY ORDERED as follows.
Section 1. This Board of Supervisors proposes to conduct proceedings to
establish a community facilities district pursuant to the Act.
Section 2. The name proposed for the District is County of Contra Costa
Community Facilities District No. 2002-1 (Renaissance ClubSport Public
Improvements).
Section 3. The proposed boundaries of the District are as shown on the map of
the District on file with the Clerk of the Board, which boundaries are hereby
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preliminarily approved and to which map reference is hereby made for further
particulars. The Clerk of the Board is hereby directed to record,or cause to be recorded,
the map of the boundaries of the District in the office of the County Recorder within
fifteen days of the date of adoption of this Resolution, but in any event at least fifteen
days prior to the public hearing referred to in paragraph io bellow.
Section 4. The type of public facilities(the"Facilities"),public improvement fees
(the "Fees") and prior assessment liens (the "Prior Liens") proposed to be financed and
refinanced, as applicable, by the District and pursuant to the Act shall consist of those
items listed on Exhibit A hereto which Exhibit is by this reference incorporated herein.
Section 5. Except to the extent that funds are otherwise available to the District
to finance or refinance, as applicable, the Facilities, the Fees and the Prior Liens, and/or
to pay the principal and interest as it becomes due on bonds of the District issued to fund
the Facilities and the Fees and to discharge the Prior Liens,a special tax sufficient to pay
the costs thereof,,secured by recordation of a continuing lien against all non-exempt real
property in the District, will be levied annually within the District, and collected in the
same manner as ordinary ad valorem property taxes or in such other manner as this
Board of Supervisors shall determine, including direct billing of the affected property
owners. The proposed rate and method of apportionment of the special tax among the
parcels of real property within the District, in sufficient detail to allow each landowner
within the proposed District to estimate the maximum amount such owner will,have to
pay, is described in Exhibit B attached hereto which Exhibit is by this reference
incorporated herein.
' This Board of Supervisors finds that the provisions of Section 53313.6, 53313.7
and 53313.9 of the Act(relating to adjustments to ad valorem property taxes and schools.
financed by a community facilities district)are inapplicable to the District.
Section 6. It is the intention of this Board of Supervisors, acting as the legislative
body for the District, to cause bonds of the County to be issued for the District pursuant
to the Act to finance or refinance, as applicable, in whole or in part the Facilities, the
Fees and the Prior Liens. Said bonds shall be in the aggregate principal amount of not to
exceed$3,,00,000,shall bear interest payable semi-annually or in such other manner as
this Board of Supervisors shall determine, at a rate not to exceed the maximum rate of
interest as may be authorized by applicable law at the time of sale of such bonds, and
shall mature not to exceed 40 years from the date of the issuance thereof.
Section 7. 'The levy of said proposed special tax shall be subject to the approval of
the qualified electors of the District at a special election. The proposed voting procedure
shall be by mailed or hand-delivered ballot among the landowners in said proposed
District, with each owner having one vote for each acre or portion of an acre such owner
owns in the District.
Section 8. Except as may otherwise be provided by law or by the rate and method
Of apportionment of the special taxes for the District, all lands owned by any public
entity, including the United States, the State of California and/or the County, or any
departments or political subdivisions thereof, shall be omitted from the levy of the
special tax to be made to cover the costs and expenses of the Facilities,the Fees,the Prior
Liens and the District.
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Section g. The Deputy Director-Redevelopment of the County, as the officer
having charge and control of the financing program, is hereby directed to study said
proposed Facilities,Fees and Prior Liens and to make,or cause to be made, and file with
the Clerk of the Board a report in writing,presenting the following:
(a) A description of the Facilities, Fees and Prior Liens to be funded by the
District
(b)An estimate of the fair and reasonable cost of funding the Facilities, Fees and
Prior Liens including the incidental expenses in connection therewith, including the
costs of the proposed bond financing and all.other related costs as provided in Section
53346.3 of the Act.
below. Said report shall be made a part of the record of the public hearing provided for
Section 1o. Tuesday, October 15, 2002, at 11:oo a.m. or as soon thereafter as the
matter may be heard, in the Board Chambers, Room 107,'651 Pine Street, Martinez,
California,be, and the same are hereby appointed and fixed as the time and place when
and where this Board of Supervisors, as legislative body for the District, will conduct a
public hearing on the establishment of the District and consider and finally determine
whether the public interest, convenience and necessity require the formation of the
District and the levy of said special takes.
Section 11. The Deputy Director - Redevelopment is hereby directed to cause
notice 'of said public hearing to be given by publication one time in a newspaper
published in the.area of the District. The publication of said notice shall be completed at
least seven days before the date herein set for said hearing. Said notice shall be
substantially in the form of Exhibit C hereto.
Section 12. The County proposes to repay, solely from the proceeds of bonds.of
the County issued for the District,funds advanced to pay costs of the County to form the
District,or to pay the Fees.
Section 13. The Acquisition .Agreement, in the form on file with the Deputy
Director--Redevelopment, is hereby approved.The Deputy Director--Redevelopment is
hereby authorized and directed, for and on behalf of the County and the District, to
execute and deliver the Acquisition Agreement in such form, together with such
additions thereto or changes therein as the Deputy Director — Redevelopment, upon
consultation with Bond Counsel to the County for the District, shall approve, the
approval of such additions or changes to be conclusively evidenced by the execution and
delivery of the Acquisition Agreement by the Deputy Director—Redevelopment.
Section 14. This Board of Supervisors reserves to itself the right and authority to
allow any interested owner of property in the District,subject to the provisions of Section
63344.1 of the Act and such requirements as it may otherwise impose,and any applicable
prepayment penalties as prescribed in the indenture or fiscal agent agreement for any
bonds of the County for the District,to tender to the Deputy Director-Redevelopment or
designee (who shall remit the same to the County Treasurer) in full payment or part
payment of any installment of special taxes for the District or the interest or penalties
thereon which may be due or delinquent,but for which a bill has been received,any bond
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or other obligation secured thereby, in the manner described in Section 63344.1 of the
Act.
Section 15. The firm of Quint & Thimmig LLB, is hereby designated as bond
counsel and disclosure counsel for the District and any bonds issued by the County for
the District,the firm of Goodwin Consulting Group,Inc. is hereby designated as special
tart consultant to the County for the District, and the firm of Stone &Youngberg LLC is
hereby designated as underwriter for any bonds issued by the County for the District.
The Deputy`Director - Redevelopment is hereby authorized to execute agreements with
said firms for their services related to the District and any bonds issued by the County for
the District,in form and substance acceptable to the Deputy Director-Redevelopment.
Section 16. This Resolution shall take effect upon its adoption.
B. The time and place established under said Resolution for the public hearing
required under the Act are Tuesday, October 15, 2002, at the hour of 11:00 a.m. or as soon
thereafter as the matter may be heard, in the Board Chambers, Room 107, 651 Pine Street,
Martinez, California.
C. At said hearing,the testimony of all interested persons or taxpayers for or against
the establishment of the district,the extent of the district or the furnishing of the specified types
of facilities or payment of specified fees or refinancing of specified prior liens will be heard.Any
person interested may file a protest in writing with the Clerk to the Board as provided in Section
53323 of the Act, If fifty percent or more of the registered voters, or six registered voters,
whichever is more,residing in the territory proposed to be included in the district,or the owners
of one-half or more of the area of land in the territory proposed to be included in the district-and
not exempt from the special tax file written protests against the establishment of the District and
the protests are not withdrawn to reduce the value of the protests to less than a majority, the
Board of Supervisors shall take no further action to establish the District or levy the special taxes
in the District for a period of one year from the date of the decision of the Board of Supervisors,
and if the majority protests of the registered voters or the landowners are only against the
furnishing of a type or types of facilities, payment of a type or types of fees, or refinancing of
types of prior liens within the district, or against levying.a specified special tax in the district,
those types of facilities, fees or prior liens, or the specified special tax, will be eliminated from
the proceedings to form the district.
D. The proposed voting procedure shall be by special mail or hand-delivered ballot
to the property owners within the territory proposed to be included in the district.
Dated: . 2002
By:
Deputy Director-Redeveloprant
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