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HomeMy WebLinkAboutTC Res 1993-12-07 " t' ~ RESOLUTION NO. 2981 RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF TIBURON OF INTENTION TO ESTABLISH TIBURON NEW TOWN CENTER COMMUNITY FACILITIES DISTRICT NO. 1994-1, TO INCUR BONDED INDEBTEDNESS THEREFOR AND TO APPROVE BOUNDARY MAP The Town Council of the Town of Tiburon resolves: A community facilities district (the "District") is proposed to be established under the terms of the Mello-Roos community Facilities Act of 1982 (Section 53311 et seq., California Government Code). The boundaries of the territory proposed for inclusion in 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"). The Boundary Map is on file in the office of the Town Clerk, is in the form required by section 3110 of the Streets and Highways Code, and is hereby approved. The Town Clerk is directed to file a copy of the Boundary Map with the County Recorder of the county of Marin within fifteen (15) days hereafter for placement in the Book of Maps of Assessment and Community Facilities Districts. The name proposed for the District is Tiburon New Town Center Community Facilities District No. 1994-1. The public facilities proposed to be financed are as follows: f t ~ 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. The Town Council hereby declares the necessity of incurring a bonded indebtedness through the issuance of special tax bonds in the amount of Three Million One Hundred Ten Thousand Dollars ($3,110,000), repayable over not more than a forty (40) year period, for the purpose of financing the public facilities described herein. Except where funds are otherwise available, a special tax sufficient to pay principal and interest on the special tax bonds, secured by recordation of a continuing lien against all nonexempt real property in the District, will be levied annually within the District. The tax is proposed to be collected as a separately- stated item on the county property tax bill, but the Town Council reserves the right to change the method of collection at any time. 2 ~ ~ ~ The maximum annual special tax shall be apportioned according to the use and state of development of the land as follows: Rate Per Year prooertv Cateqorv All single family parcels 1 equivalent dwelling unit (EDU) $99.29 per EDU 1 equivalent dwelling unit (EDU) $99.29 per EDU All vacant parcels All multifamily parcels 0.6 EDU per dwelling unit $59.57 per dwelling unit $0.04 per SF of building space 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. 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 or the excess may be used for maintenance and operation, at the option of the Town. No special tax shall be collected hereunder after the fiscal year 2034-2035. The Town Council hereby fixes 8:00 p.m. on Monday, January 10, 1994 in the Chambers of the Town Council of the Town of Tiburon at Del Mar School, 105 Avenida Miraflores, Tiburon, California, as the time and place for a pUblic hearing on the establishment of the District and the incurring of bonded indebtedness. The Town Council directs STAN BALA, Town Engineer of the Town of Tiburon, to prepare the report required by section 53321.5 3 f t' ~ of the Government Code and to file the report with the Town Council at or before the time of the hearing. If, at the conclusion of the hearing, the Town Council determines to proceed with the establishment of the District, the levy of special taxes and the incurring of bonded indebtedness will be submitted to the registered voters of the District at a general or special election to be held at least ninety (90) days thereafter. The special tax may be levied and the special tax bonds may be issued if two-thirds of those voting approve the measure. * * * PASSED AND ADOPTED at an adjourned regular meeting of the Town Council of the Town of Tiburon on December 7, 1993, by the following vote: AYES: councilmembers Thayer, Thompson, Nygren, Kuhn and Friedman NOES: None ABSENT: None ~<<~---T'~ MICHAEL FRIEDMAN, MAYOR Town of Tiburon ATTEST: By 4