HomeMy WebLinkAbout24804RESOLUTION NO. 24804
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
PALM SPRINGS, CALIFORNIA, DECLARING NECESSITY
FOR PROPOSED COMMUNITY FACILITIES DISTRICT
NO. 2020-1 (CANYON VIEW) OF THE CITY OF PALM
SPRINGS TO INCUR BONDED INDEBTEDNESS
WHEREAS, pursuant to Section 53321 of the California Government Code, the
City Council (the "City Council") of the City of Palm Springs (the "City") has adopted a
resolution declaring its intention to establish proposed Community Facilities District No.
2020-1 (Canyon View) of the City of Palm Springs, County of Riverside, State of
California, for the purpose of providing and financing public facilities that are necessary
to meet increased demands placed upon the City as a result of development that will
occur within said proposed community facilities district (the "Resolution of Intention");
and
WHEREAS, the City Council has determined that it is necessary for said
proposed community facilities district to incur a bonded indebtedness for the purpose of
providing and financing such public facilities; and
WHEREAS, it is therefore necessary for the proposed community facilities district
to incur a bonded indebtedness for the purpose of providing and financing the City
Facilities.
THE CITY COUNCIL OF THE CITY OF PALM SPRINGS, CALIFORNIA,
HEREBY RESOLVES AS FOLLOWS:
SECTION 1. Bonded Indebtedness. The City Council declares that it is
necessary that bonded indebtedness be incurred by and for proposed Community
Facilities District No. 2020-1 (Canyon View) of the City of Palm Springs, County of
Riverside, State of California, in an aggregate principal amount not to exceed
$4,000,000 for the purpose of financing the design, construction and acquisition of the
City Facilities, as they are described in the Resolution of Intention.
SECTION 2. Costs Included. The amount of the proposed bonded indebtedness
shall include all costs and estimated costs incidental to, or connected with, the
accomplishment of the purposes for which the proposed bonded indebtedness is to be
incurred, including, but not limited to, the estimated costs of construction and acquisition
of the public facilities which are proposed to be provided within and for the proposed
community facilities district, acquisition of land and rights -of -way, satisfaction of
contractual obligations relating to expenses or the advancement of funds for expenses
existing at the time the bonds are issued, architectural, engineering, inspection, legal,
fiscal and financial consultant fees, bond and other reserve funds and interest on any
bonds of the proposed community facilities district estimated to be due and payable
within two years from the date of the issuance of such bonds, election costs, and all
costs of issuance of the bonds, including, but not limited to, underwriter's discount, fees
Resolution No. 24804
Page 2
for bond counsel, disclosure counsel, appraisers, municipal advisors, market absorption
consultants and other consultants, costs of obtaining credit ratings, bond insurance
premiums, fees for letters of credit, and other credit enhancement costs, and printing
costs.
SECTION 3. Payment of Bonded Indebtedness. Pursuant to Section 4 of the
Resolution of Intention and Section 53350 of the California Government Code, all
parcels of taxable property within the territory of the proposed community facilities
district shall be subject to the levy of special taxes to pay the principal of and interest on
the aggregate principal amount of the bonds of the proposed community facilities district
that may be issued and sold to finance the City Facilities.
SECTION 4. Hearing. A public hearing on the formation of the proposed
community facilities district shall be held at 5:30 p.m. on November 12, 2020 in the City
Hall, Council Chamber, located at 3200 East Tahquitz Canyon Way, Palm Springs,
California [or via teleconference as directed by the City due to COVID-19 social
distancing guidelines.]
SECTION 5. Notice. The City Clerk shall publish a notice of the time and place of
said hearing pursuant to Section 53346 of the California Government Code, and shall
also give notice of the time and place of said hearing by first-class mail to each
registered voter and to each landowner within the proposed community facilities district.
PASSED, APPROVED, AND ADOPTED BY THE PALM SPRINGS CITY
COUNCIL THIS 24TH DAY OF SEPTEMBER, 2020.
DAVID H. READY
CITY MANAGER
ATTEST:
Aft9ONY J. M JIA,
CITY CLERK
Resolution No. 24804
Page 3
CERTIFICATION
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.
CITY OF PALM SPRINGS)
I, ANTHONY J. MEJIA, MMC, City Clerk of the City of Palm Springs, hereby
certify that Resolution No. 24804 is a full, true and correct copy as was duly adopted at
a regular meeting of the City Council of the City of Palm Springs on September 24, 2020.
AYES: Councilmembers Garner, Middleton, Woods, Mayor Pro Tern Holstege,
and Mayor Kors
NOES: None
ABSENT: None
ABSTAIN: None
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of
the City of Palm Springs, California, this %5�, day of C)L4-�wc� , zcy-z-o
Antl'iony J. M ia, le
City of Palm rings, Clalifornia