HomeMy WebLinkAbout24421RESOLUTION NO . 24421
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM SPRINGS,
DECLARING A NEW CPI TO BE USED FOR RATE CALCULATION FOR THE
COMMUNITY FACILITIES DISTRICT NO . 2007-1 (PUB LIC SAFETY
SERVICES)
WHEREAS, the City Council previously completed proceedings to establish
Community Facilities District No. 2007-1 ("District"); and
WHEREAS, the special tax formula for the District calls for annual increases to
special ta x rates based upon changes in the Los Angeles-Riverside-Orange County CPI
("Prior CPI ") as of April ; and
WHEREAS , the Bureau of Labor Statistics ("BLS ") introduced new geographic
area samples in January 2018 which split the Prior CPI into two regions called Los
Angeles-Long Beach-Anaheim (which includes Los Angeles and Orange Counties) and
Riverside-San Bernardino-Ontario (wh ich includes Riverside and San Bernardino
Counties); and
WHEREAS , the City Council wishes to formally declare which CPI will be used for
future special tax rate calculations .
NOW, THEREFORE BE IT RESOLVED , DETERMINED , AND ORDERED BY
THE CITY COUNCIL, AS FOLLOWS :
1. Declaration of CPI: The City Council has determined the Riverside-San
Bernardino-Ontario All Urban Consumers CPI as of March will be used for the
purposes of computing annual changes in the specia l tax rates for the District
beginning with the 2019-20 calculation; and
2 . 2018-19 Calculation : The City Council will use the Los Angeles-Long Beach-
Anaheim CPI as of April for the 2018-19 rate calculation because the prior year
data from which to compute a percentage change is not yet available for Riverside-
San Bernardino-Ontario .
PASSED , APPROVED, AND ADOPTED BY THE PALM SPRINGS CITY
COUNCIL THIS 16TH DAY OF MAY, 2018 .
~~ ~ '"""'____ ~
David H . Ready,ESq.,r::
City Manager
CERTIFICATION
I, Anthony J. Mejia, City Clerk of the City of Palm Springs, hereby certify that
Resolution No. 24421 is a full, true and correct copy , and was duly adopted at a regular
meeting of the City Council of the City of Palm Springs on May 16,2018, by the following
vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
Councilmembers Holstege , Kors , Middleton , Mayor ProTem Roberts , and
Mayor Moon
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