Resolution No. 380118
RESOLUTION NO. 3801
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CYPRESS DECLARING ITS INTENTION TO ISSUE BONDS
SECURED BY A SPECIAL TAX TO FINANCE CERTAIN
FACILITIES IN AND FOR PROPOSED COMMUNITY
FACILITIES DISTRICT NO. 1 (SORRENTO HOMES)
WHEREAS, the City Council (the "City Council ") of
the City of Cypress (the "City ") has adopted Resolution
No. 3800 on August 6, 1990, 1990, wherein it declared its
intent — io o establish a community facilities district to
provide certain facilities (as defined in said Resolution
No. 3800 , and herein the "Facilities ") and to levy a
special tax to pay for the Facilities under and pursuant to
the terms and provisions of the "Mello -Roos Community
Facilities Act of 1982 ", as amended, (the "Act "), being
Chapter 2.5, Part 1, Division 2, Title 5 of the Government
Code of the State of California, such community facilities
district to be known and designated as "Community Facilities
District No. 1 (Sorrento Homes)" (the "Community Facilities
District "); and
WHEREAS, it is the intention of the City Council to
finance all or a portion of the Facilities through the
issuance of bonds, the payment of interest on and principal
of which bonds will be secured by special tax, all as
authorized pursuant to the Act;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL
OF THE CITY OF CYPRESS, AS FOLLOWS:
Section 1. All of the above recitals are true and
correct.
Section 2. The City Council hereby declares that
the public convenience and necessity require and it is
necessary that a bonded indebtedness be incurred to finance
all or a portion of the Facilities for the Community
Facilities District.
Section 3. The purpose for the proposed bonded
indebtedness is generally described as follows:
The funding, financing, construction, installation,
rehabilitation and acquisition of certain public
facilities, encompassing streets and highways, drainage
facilities, sewer facilities, traffic and safety
lighting facilities, parkway landscaping improvements,
and school facilities, together with appurtenances and
appurtenant work, and including the acquisition where
necessary, in public streets and rights -of -way to serve
properties within the Community Facilities District
which are public facilities that the City or a public
agency is authorized by law to contribute revenue to or
to construct, own or operate, which are necessary to
meet present or increased demand upon the City and other
public agencies as a result of development occurring
within the boundaries of the Community Facilities
District, including the cost of purchase of completed
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facilities, construction, expansion or rehabilitation of
facilities, and all related incidental expenses as
authorized by the Act.
Section 4. The amount of the proposed bonded
indebtedness to be incurred to finance all or a portion of
the Facilities (including incidental expenses as authorized
by the Act) shall not exceed fifteen million five hundred
thousand dollars ($15,500,000).
Section 5. This City Council, acting as
legislative body for the Community Facilities District,
intends to authorize the issuance and sale of bonds in the
maximum aggregate principal amount of not to exceed
$15,500,000, bearing interest payable semi - annually or in
such other manner as this City Council shall determine, at a
rate not to exceed the maximum rate of interest as may be
authorized by applicable law at the time of the sale of such
bonds, and maturing not to exceed forty (40) years from the
date of the issuance of said bonds.
Section 6. Notice is given that on the 10th day of
September, 1990, at the hour of 7:30 o'clock p.m., in the
City Council Chambers, City of Cypress, a public hearing
will be held on the intention of the City Council to incur a
bonded indebtedness to finance all or a portion of the
Facilities in the Community Facilities District. At the
above - mentioned time and place for such public hearing, any
persons interested, including all taxpayers, property owners
and registered voters within the Community Facilities
District, may appear and be heard on the proposed debt issue
or on any other matters set forth herein, and they may
present any matters relating to the necessity for incurring
such bonded indebtedness to pay for all or a portion of the
Facilities and to be secured by a special tax to be levied
within the Community Facilities District.
Section 7. Notice of the time and place of such
public hearing shall be given by the City Clerk by
publication one time in a newspaper of general circulation
published in the area of the proposed Community Facilities
District, in accordance with Sections 53346 and 53347 of the
Act. The publication of said notice shall be completed at
lease fifteen (15) days before the date herein set for said
public hearing. Said notice shall be substantially in the
form of Exhibit A hereto.
PASSED AND ADOPTED by the City Council of the City
of Cypress at an adjourned regular meeting held on the 6th
day of August, 1990.
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OR F THE TY 0 PRESS
ATTEST:
CIT'Y�CLERK F THE TY OF CYPRESS
STATE OF CALIFORNIA
) ss
COUNTY OF ORANGE
I, DARRELL ESSEX, City Clerk of the City of
Cypress, DO HEREBY CERTIFY that the foregoing Resolution was
duly adopted at an adjourned regular meeting of the said
City Council held on the 6th day of August, 1990, by the
following roll call vote:
AYES:
NOES:
ABSENT:
4 COUNCIL MEMBERS :Arnold, Bowman, Kenal and Kerry
0 COUNCIL MEMBERS:None
0 COUNCIL MEMBERS:None
ABSTAINED: 0
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COUNCIL MEMBER Age
CITY CLERK F 'HE CITY OF CYPRESS
183
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EXHIBIT A
NOTICE OF PUBLIC HEARING
CITY OF CYPRESS
Community Facilities District No. 1 (Sorrento Homes)
Notice is hereby given that on , 1990,
the City Council of the City of Cypress adopted a Resolution
entitled "Resolution of the City Council of the City of
Cypress Declaring its Intention to Issue Bonds Secured by a
Special Tax to Finance Certain Facilities in and for
Proposed Community Facilities District No. 1 (Sorrento
Homes) ". Pursuant to the Mello -Roos Community Facilities
Act of 1982 (the "Act ") the City Council of the City of
Camarillo hereby gives notice as follows:
A. The text of said Resolution is as follows:
WHEREAS, the City Council (the "City Council ") of
the City of Cypress (the "City ") has adopted Resolution
No. on , 1990, wherein it
declared its intention to establish a community facilities
district to provide certain facilities (as defined in said
Resolution No. , and herein the "Facilities ") and to
levy a special tax to pay for the Facilities under and
pursuant to the terms and provisions of the "Mello -Roos
Community Facilities Act of 1982 ", as amended, (the "Act "),
being Chapter 2.5, Part 1, Division 2, Title 5 of the
Government Code of the State of California, such community
facilities district to be known and designated as "Community
Facilities District No. 1 (Sorrento Homes)" (the "Community
Facilities District "); and
WHEREAS, it is the intention of the City Council to
finance all or a portion of the Facilities through the
issuance of bonds, the payment of interest on and principal
of which bonds will be secured by special tax, all as
authorized pursuant to the Act;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL
OF THE CITY OF CYPRESS, AS FOLLOWS:
Section 1. All of the above recitals are true and
correct.
Section 2. The City Council hereby declares that
the public convenience and necessity require and it is
necessary that a bonded indebtedness be incurred to finance
all or a portion of the Facilities for the Community
Facilities District.
Section 3. The purpose for the proposed bonded
indebtedness is generally described as follows:
The funding, financing, construction, installation,
rehabilitation and acquisition of certain public
facilities, encompassing streets and highways, drainage
facilities, sewer facilities, traffic and safety
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lighting facilities, parkway landscaping improvements,
and school facilities, together with appurtenances and
appurtenant work, and including the acquisition where
necessary, in public streets and rights -of -way to serve
properties within the Community Facilities District
which are public facilities that the City or a public
agency is authorized by law to contribute revenue to or
to construct, own or operate, which are necessary to
meet present or increased demand upon the City and other
public agencies as a result of development occurring
within the boundaries of the Community Facilities
District, including the cost of purchase of completed
facilities, construction, expansion or rehabilitation of
facilities, and all related incidental expenses as
authorized by the Act.
Section 4. The amount of the proposed bonded
indebtedness to be incurred to finance all or a portion of
the Facilities (including incidental expenses as authorized
by the Act) shall not exceed fifteen million five hundred
thousand dollars ($15,500,000).
Section 5. This City Council, acting as
legislative body for the Community Facilities District,
intends to authorize the issuance and sale of bonds in the
maximum aggregate principal amount of not to exceed
$15,500,000, bearing interest payable semi - annually or in
such other manner as this City Council shall determine, at a
rate not to exceed the maximum rate of interest as may be
authorized by applicable law at the time of the sale of such
bonds, and maturing not to exceed forty (40) years from the
date of the issuance of said bonds.
Section 6. Notice is given that on the 10th day of
September, 1990, at the hour of 7:30 o'clock p.m., in the
City Council Chambers, City of Cypress, a public hearing
will be held on the intention of the City Council to incur a
bonded indebtedness to finance all or a portion of the
Facilities in the Community Facilities District. At the
above - mentioned time and place for such public hearing, any
persons interested, including all taxpayers, property owners
and registered voters within the Community Facilities
District, may appear and be heard on the proposed debt issue
or on any other matters set forth herein, and they may
present any matters relating to the necessity for incurring
such bonded indebtedness to pay for all or a portion of the
Facilities and to be secured by a special tax to be levied
within the Community Facilities District.
Section 7. Notice of the time and place of such
public hearing shall be given by the City Clerk by
publication one time in a newspaper of general circulation
published in the area of the proposed Community Facilities
District, in accordance with Sections 53346 and 53347 of the
Act. The publication of said notice shall be completed at
lease fifteen (15) days before the date herein set for said
public hearing. Said notice shall be substantially in the
form of Exhibit A hereto.
B. The hearing referred to in the aforesaid Resolution
shall be at the time and place specified in said Resolution.
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C. At that time and place any person interested, including
persons owning property in the area of the proposed
Community Facilities District, will be heard upon the
proposed debt issue.
Dated:
/s/
City Clerk