HomeMy WebLinkAboutCity Council Resolution 16-062 -ArrowheadRESOLUTION NO. 16-062
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SARATOGA
TO INCUR BONDED INDEBTEDNESS OF THE PROPOSED CITY OF SARATOGA
COMMUNITY FACILITIES DISTRICT NO. 16-001 (ARROWHEAD)
WHEREAS, the City Council (the "City Council") of the City of Saratoga (the "City") has
this date adopted its Resolution entitled "A Resolution of the City Council of the City of Saratoga
of Intention to Establish a Community Facilities District and to Authorize the Levy of Special
Taxes", stating its intention to establish the City of Saratoga Community Facilities District
No. 16-001 (Arrowhead) (the "Community Facilities District" or the "District") pursuant to the
Mello -Roos Community Facilities Act of 1982 (the "Act") for the purpose of financing certain
public facilities (the "Facilities") and services, as further provided in said Resolution; and
WHEREAS, the Facilities will be constructed, owned and operated by San Jose Water
Company as described in the water facilities offer letter dated July 14, 2016 from San Jose Water
Company to Arrowhead Cooperative Company; and
WHEREAS, in order to finance the Facilities it is necessary to incur bonded indebtedness
in the amount of up to $6 million;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Saratoga as
follows:
The City Council hereby declares that in order to finance the Facilities, it is necessary to incur
bonded indebtedness.
The purpose for which the proposed debt is to be incurred is to provide the funds necessary to pay
the costs of the Facilities, including construction costs and all costs incidental to, or connected
with, the accomplishment of said purpose and of the financing thereof, as permitted by
Section 53345.3 of the Act.
The maximum amount of the proposed debt is $6 million.
The City Council hereby fixes December 7, 2016, at 7:00 p.m., or as soon thereafter as the City
Council may reach the matter, at 13777 Fruitvale Avenue, Saratoga, CA 95070, as the time and
place when and where the City Council will conduct a public hearing on the proposed debt issue.
The City Clerk of the City is hereby directed to publish, or cause to be published, a notice of said
public hearing one time in a newspaper of general circulation published in the area of the
Community Facilities District. The publication of said notice shall be completed at least seven
days prior to the date herein set for said public hearing. Said notice shall contain the information
prescribed by Section 53346 of the Act, and shall be substantially in the form attached hereto as
Exhibit A.
The officers, employees and agents of the City are hereby authorized and directed to take all
actions and do all things which they, or any of them, may deem necessary or desirable to
accomplish the purposes of this Resolution and not inconsistent with the provisions hereof.
This Resolution shall take effect immediately upon its adoption.
The above and foregoing resolution was passed and adopted at a regular meeting of the Saratoga
City Council held on the 2nd day of November 2016 by the following vote:
AYES: Mayor E. Manny Cappello, Vice Mayor Emily Lo, Council Member Mary -Lynne
Bernald, Howard A. Miller, Rishi Kumar
NOES:
ABSENT:
ABSTAIN:
ATTEST:
E. Manny Cappello, Mayor
DATE: k /g/--).01ko
Cry fal Bothelio, City Clerk
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EXHIBIT A
NOTICE OF PUBLIC HEARING
Notice is hereby given that on November 2, 2016, the City Council (the "City Council") of the
City of Saratoga (the "City") adopted a Resolution entitled " A RESOLUTION OF THE CITY
COUNCIL OF THE CITY OF SARATOGA, CALIFORNIA TO INCUR BONDED
INDEBTEDNESS OF THE PROPOSED CITY OF SARATOGA COMMUNITY FACILITIES
DISTRICT NO. 16-001 (ARROWHEAD)".
Pursuant to the Mello -Roos Community Facilities Act of 1982 (the "Law"), the City Council of
the City hereby gives notice as follows:
A. The text of said Resolution is as follows:
[insert final text of resolution]
B. The hearing referred to in the aforesaid Resolution shall be at the time and place
specified in the Resolution, December 7, 2016 at 7:00 p.m.
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: , 2016
824620.2
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/s/ Crystal Bothelio
City Clerk of the City of Saratoga