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HomeMy WebLinkAboutTC Res 1994-01-10 (2) f t lr RESOLUTION NO. 2987 RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF TIBURON OF FORMATION OF TIBURON NEW TOWN CENTER COMMUNITY FACILITIES DISTRICT NO. 1994-1, The Town Council of the Town of Tiburon resolves: On December 7, 1993, this Town Council adopted its Resolution of Intention to establish Tiburon New Town Center Community Facilities District No. 1994-1 (the "District") and to incur bonded indebtedness for the purposes of the District. On this date the Town Council has held a public hearing after notice as required by the Mello-Roos Community Facilities Act of 1982 of the State of California (the "Mello-Roos Act"). All written objections and other evidence and testimony having been considered, the Town Council resolves as follows: 1. The Town Council hereby finds that the special tax to be levied within the District has not been precluded by majority protest pursuant to section 53324. 2. The Town Council hereby finds that all proceedings leading to the establishment of the District are valid and in conformity with the Mello-Roos Act. 3. The boundaries of the District are shown on the map entitled "Proposed Boundaries of Tiburon New Town Center Community Facilities District No. 1994-1, Town of Tiburon, county of Marin, State of California" (the "Boundary Map"). On January 4, 1994, the Boundary Map was filed in the office of the County Recorder of the county of Marin in Book 3 of the Book of Maps of Assessment and Community Facilities Districts, at page 100. ~ t r ~ 4. The public facilities proposed to be financed are as ". follows: The demolition of two existing Town Hall buildings totaling approximately 10,000 square feet, the construction of a new 17,000 square foot New Town Center, expansion of parking facilities, improvements to the circulation system on the site and related improvements to the circulation system on the site and related improvements to drainage, lighting and similar support features, together with all appurtenances necessary thereto. The proposed financing shall include all costs and expenses normally incidental to the installation and financing of the facilities, including without limitation election costs: design fees and costs: contract supervision: Town administrative costs: and bond issuance and bond servicing fees and costs associated with the issuance of tax-exempt bonds and permitted pursuant to section 53345.3 of the Government Code. 5. Except where funds are otherwise available, a special tax, sufficient to pay principal and interest on special tax bonds to be issued to fund the above-described improvements, will be levied annually within the District. The levy of the special tax has not been precluded by majority protest pursuant to section 53324 of the Mello-Roos Act. Upon recordation of a notice of special tax lien pursuant to section 3114.5 of the Streets and Highways Code, a continuing lien to secure each levy of the special tax shall attach to all nonexempt real property in the District: the lien shall continue until the special tax obligation is permanently satisfied and the lien cancelled in accordance with law or until collection of the tax ceases. The tax will be collected as a separately-stated item on the county property tax bill, but the Town Council may change the collection method at any time. The 2 ~ I ~ ~ ~ special tax shall be apportioned according to the use and state of . , development of the land, at the following per annum tax rates: ProDertv Cateaorv Maximum Rate Per Year All single family parcels 1 equivalent dwelling unit (EDU) $99.29 per EDU 1 equivalent dwelling unit (EDU) $99.29 per EDU 0.6 EDU per dwelling unit $59.57 per dwelling unit $0.04 per SF of building space All vacant parcels All multifamily parcels All commercial parcels Parcel means all legal parcels (as of March 1 of the previous Fiscal Year, or later if adjustments are made after that date by the Marin County Assessor and Treasurer/Tax Collector) of real property in private ownership within Tiburon New Town Center Community Facilities District No. 1994-1. The rates shown are maximum rates, except that the rate on all parcels may be increased prorata, but not by more than ten percent (10%), on account of the default or delinquency of the owner of any parcel. The delinquent amounts, when collected, shall be applied as a credit to the next tax levy. If tax collections at the stated rates exceed the amount required to pay annual bonded debt and annual bond servicing costs, the rates may be reduced prorata. No special tax shall be collected hereunder after the fiscal year 2034-2035. 5. The Finance Director of the Town of Tiburon, 1155 Tiburon Boulevard, Tiburon, CA 94920 (telephone 415-435-0956), will be responsible for preparing annually a current roll of special tax levy obligations by assessor's parcel number and for estimating 3 ~ C: " : future special tax levies pursuant to section 53340.1 of the Mello- Roos Act. 6. The levy of special taxes and the incurring of bonded indebtedness will be submitted to the registered voters of the District at an election to be held at least ninety (90) days hereafter. The special tax may be levied and the special tax bonds may be issued if two-thirds of those voting approve the measure. The Town Clerk is directed to furnish to the County Elections Department of the County of Marin, within three business days after the adoption of this resolution, a certified copy of this resolution and a certified copy of the boundary map for the District prepared by the Town Engineer. * * * PASSED AND ADOPTED at an adjourned meeting of the Town Council of the Town of Tiburon on January 10, 1994, by the following vote: AYES: Councilmembers Thayer, Thompson, Nygren, Kuhn and Friedman NOES: None ABSENT: None /'-2. .~r;:;;. '&? MICHAEL FRIEDMAN, MAYOR Town of Tiburon - ATTEST: 4