Resolution No. 6323375
RESOLUTION NO. 6323
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CYPRESS, CALIFORNIA,
ACTING AS THE LEGISLATIVE BODY OF COMMUNITY FACILITIES
DISTRICT NO. 1 (SORRENTO HOMES) OF THE CITY OF CYPRESS,
CALIFORNIA, AUTHORIZING THE LEVY OF A SPECIAL TAX FOR
FISCAL YEAR 2012 -2013 WITHIN SUCH COMMUNITY FACILITIES DISTRICT
WHEREAS, on August 6, 1990, the City Council of the City of Cypress, California
(the "City Council "), adopted Resolution No. 3800 stating its intention to form Community
Facilities District No. 1 (Sorrento Homes) of the City of Cypress (the "District ") pursuant to
the Mello -Roos Community Facilities Act of 1982 (California Government Code Sections
53311 et seq.), as amended (the "Act "); and
WHEREAS, on August 6, 1990, the City Council adopted Resolution No. 3801
stating its intention to incur bonded indebtedness in an amount not to exceed
$15,500,000 within the proposed District for the purpose of financing the construction,
acquisition, modification, expansion or rehabilitation of certain real and other tangible
property with an estimated useful life of five (5) years or longer, including the funding,
financing, construction, rehabilitation, installation and acquisition of certain public facilities
and appurtenances including streets and highways, drainage facilities, sewer facilities,
traffic and safety lighting facilities, parkway landscaping improvements and school
facilities, together with appurtenances and appurtenant work, including equipment, real
property together with appurtenances and appurtenant work, including equipment, real
property and other property and the incidental expenses to be incurred in connection
therewith, all as more fully described in Resolution No. 3820 adopted by the City Council
on September 10, 1990 (the "Facilities ") to serve the area within the District; and
WHEREAS, on September 10, 1990, the City Council held a noticed public
hearing as required by the Act to determine whether it should proceed with the formation
of the District, issue bonds to pay for the Facilities, creating or replenishing any necessary
reserve funds paying the annual costs associated with the bonds proposed to be issued
to finance the Facilities, including, but not limited to, the principal and interest on the
bonds, and paying any incidental expenses of the District as set forth in the Act and
Resolution Nos. 3800 and 3801; and
WHEREAS, on September 10, 1990, the City Council adopted Resolution No.
3820 which established the District, authorized the levy of a special tax within the District
and called an election within the District on the proposition of levying a special tax and
established appropriation limits for the District; and
WHEREAS, on September 10, 1990, the City Council acting as the Legislative
body of the District adopted Resolution No. 3821 which determined the necessity to incur
bonded indebtedness in an amount not to exceed $15,500,000 within the District and
called for an election on the proposition of incurring bonded indebtedness; and
WHEREAS, on September 10, 1990, an election was held within the District at
which time the qualified electors unanimously approved the propositions for incurring
bonded indebtedness not to exceed $15,500,000, levying a special tax as set forth in
Resolution No. 3820 and establishing an appropriations limit for the District; and
WHEREAS, on September 10, 1990, the City Council acting in its capacity as the
Legislative body of the District, adopted Resolution No. 3823 which declared the results of
the election conducted by the Election Official, which results showed that the votes cast
were unanimously in favor of the propositions to incur bonded indebtedness, to levy the
special tax and established an appropriations limit for the District; and
WHEREAS, on September 24, 1990, the City Council acting in its capacity as the
Legislative body of the District, adopted Ordinance No. 855 (the "Ordinance ") which
provided for the levying and collection of special taxes within the District, as provided in
the Act and the Ordinance; and
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WHEREAS, on January 24, 1994, the City Council acting in its capacity as
Legislative body of the District, adopted Resolution 4275 authorizing the issuance, sale
and delivery of refunding bonds; and
WHEREAS, on February 22, 1994, the refunding bonds were sold; and
WHEREAS, on March 8, 2004, the City Council acting in its capacity as Legislative
body of the District, adopted Resolution 5746 authorizing the issuance, sale and delivery
of special tax refunding bonds; and
WHEREAS, on June 3, 2004, the special tax refunding bonds were sold; and
WHEREAS, it is now necessary and appropriate that the City Council acting in its
capacity as the Legislative body of the District, levy and collect the special taxes for fiscal
year 2012 -13 for the purpose specified in the Ordinance by the adoption of a resolution
as specified by the Act and the Ordinance;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF CYPRESS,
CALIFORNIA, ACTING IN ITS CAPACITY AS THE LEGISLATIVE BODY OF
COMMUNITY FACILITIES DISTRICT NO. 1 (SORRENTO HOMES) OF THE CITY OF
CYPRESS DOES ORDAIN AS FOLLOWS:
SECTION 1. The above recitals are all true and correct.
SECTION 2. In accordance with the Act and the Ordinance, there is hereby levied
upon all parcels within the District which are not otherwise exempt from taxation under the
Act of the Ordinance the special taxes for fiscal year 2012 -13 at the tax rates set forth in
the report attached hereto and incorporated herein as Exhibit A, which rates do not
exceed the maximum rates set forth in the Ordinance. After adoption of this Resolution,
the District may make any necessary modifications to these special taxes to account for
unforeseen circumstances; provided, however, that any such modifications shall not result
in an increase in the tax applicable to a category and can only be made prior to the
submission of the tax roll to the Orange County Treasurer -Tax Collector.
SECTION 3. The special tax shall be collected in the same manner as ordinary ad
valorem taxes are collected and shall be subject to the same penalties and the same
procedure and sale in cases of delinquency as provided for ad valorem taxes as such
procedure may be modified by law or by the City Council from time to time.
SECTION 4. The City Clerk is hereby authorized to transmit a certified copy of this
resolution and the attached report to the Orange County Treasurer -Tax Collector,
together with a certified list of all parcels subject to the special tax levy including the
amount of the tax to be levied on each parcel for fiscal year 2012 -13 and other supporting
documentation as may be required to place said special taxes on the secured property
tax roll for fiscal year 2012 -13 and to perform all other acts which are required by the Act
of the Ordinance in order to accomplish the purposes of this Resolution.
SECTION 5. This resolution relating to the levy of the special tax shall take effect
immediately upon its final passage in accordance with the provisions of Government
Code Section 53340, as amended.
SECTION 6. The City Clerk shall certify the adoption of this Resolution.
PASSED AND ADOPTED by the City Council of the City of Cypress at a regular
meeting held on the 9th day of July, 2012.
ATTEST:
CITY CLERK OF THE CITY OF CYPRESS
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Atfr'j
- I• OF T ''r'�CITY OF CYPRESS
376
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) SS
I, DENISE BASHAM, City Clerk of the City of Cypress, DO HEREBY CERTIFY
that the foregoing Resolution was duly adopted at a regular meeting of the said City
Council held on the 9th day of July, 2012, by the following roll call vote:
AYES: 5 COUNCIL MEMBERS: Luebben, Mills, Seymore, Narain, and Bailey
NOES: 0 COUNCIL MEMBERS: None
ABSENT: 0 COUNCIL MEMBERS: None
Pe-two-e_ -.601.‘Lori
CITY CLERK OF THE CITY OF CYPRESS
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377
378
Exhibit "A"
CITY OF CYPRESS
COMMUNITY FACILITIES DISTRICT NO. 1
(SORRENTO HOMES)
FISCAL YEAR 2012 -2013 SPECIAL TAX LEVY
The Community Facilities District has been divided into three types of taxable
property:
Zone A: Lots designated in the Sorrento Specific Plan and the Vesting Tentative
Tract Map 13228 as a minimum 5,000 square foot lot and shown on the District
Boundary Map as a part of Zone A.
Zone B: Lots designated in the Sorrento Specific Plan and the Vesting Tentative
Tract Map 13228 as a minimum 6,000 square foot lot and shown on the District
Boundary Map as a part of Zone B.
Undeveloped Property: Property within the District without a recorded tract map
as of March 1 of the preceding fiscal year.
The Maximum Special Tax Rate and the fiscal year 2012 -13 Special Tax Rate per
unit are as follows:
Zone A
Zone B
Undeveloped Property
Maximum Special FY 2012 -13
Tax Rate Special Tax Rate
$2,151.00 per unit
2,581.00 per unit
20,000.00 per acre
$1,435.61 per unit
1,722.60 per unit
per acre*
Property designated as open space on a recorded tract map is exempt from the
special tax.
*NOTE: The District no longer contains property designated as "Undeveloped Property"
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