HomeMy WebLinkAbout24420RESOLUTION NO. 24420
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 . 2005-1 (PUBLIC SAFETY
SERVICES)
WHEREAS , the City Council previously completed proceed ings to establish
Community Facilities District No. 2005-1 ("District"); and ,
WHEREAS , the special tax formula for the District calls for annual increases to
special tax rates based upon changes in the Los Angeles-R iverside-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 reg ions called Los
Angeles-Long Beach-Anaheim (which includes Los Angeles and Orange Counties ) and
Riverside-San Bernardino-Ontario (which includes Ri v erside and San Bernardino
Counties); and ,
WHEREAS , the City Council wishes to formally declare w h ich 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 Ri verside-San
Bernardino-Ontario All Urban Consumers CPI as of March w ill be used for the
purposes of computing annual changes in the specia l tax rates for t he 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 av ailab le for Ri vers ide-
San Bernardino-Ontario.
PASSED , APPROVED AND ADOPTED BY THE PA LM SPRINGS CITY
COUNCIL THIS 16TH DAY OF MAY, 2018.
David H . Ready, Esq., Ph .
City Manager
ATTEST:
Resoluti on No. 24 420
Page 2
CERT IFI CATION
I, ANTHONY J. MEJIA , City Clerk of the City of Palm Springs , hereby certify that
Resolution No . 24420 is a full , true and correct copy , and was duly adopted at a regu lar
meeting of the City Council of the City of Palm Springs on May 16 , 2018 , by the following
vote:
AYES : Councilmembers Holstege , Kors, Middleton , Mayor ProTem Roberts , and
Mayor Moon
NOES : None
ABSENT: None
ABSTA IN : None
IN WITNESS WHEREOF , I have hereunto set my hand and affi xed the officia l seal of
the C it y of Pa lm Springs , California this I Yi-' day of :\v'"'-'L , 7_o l$\