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HomeMy WebLinkAboutCity Council Resolution 17-035 - Arrowhead Tax LienRESOLUTION NO. 17-035 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SARATOGA DECLARING RESULTS OF SPECIAL ELECTION AND DIRECTING RECORDING OF NOTICE OF SPECIAL TAX LIEN WHEREAS, on December 21, 2016, the City Council (the "City Council") of the City of Saratoga (the "City") adopted, pursuant to the Mello -Roos Community Facilities Act of 1982 (the Law"), a resolution entitled "A Resolution of the City Council of the City of Saratoga, Calling Special Election Within Community Facilities District No. 2016-1 (Arrowhead Project)" (the Resolution Calling Election"), calling for a special election of the qualified electors within City of Saratoga Community Facilities District No. 2016-1 (Arrowhead Project) (the "Community Facilities District"); WHEREAS, pursuant to the terms of the Resolution Calling Election and the provisions of the Law, the special election was held on May 2, 2017, and WHEREAS, the City Clerk of the City (the "City Clerk") has certified the canvass of the returns of the election and has filed a Canvass and Statement of Results of Election (the Canvass"), a copy of which is attached hereto as Exhibit A NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Saratoga as follows. Section 1. The City Council has received, reviewed and hereby accepts the Canvass. Section 2 The City Council hereby finds and declares that, pursuant to the Canvass of the special election on file with the City Clerk, the issues presented at the special election were approved by the qualified electors of the Community Facilities Distract by more than two-thirds of the votes cast at the special election. Section 3. Pursuant to the voter approval, the District is hereby declared to be fully formed with the authority to incur bonded indebtedness and to levy special taxes as heretofore provided in these proceedmgs and in the Law. Section 4. The City Clerk is hereby directed to execute and cause to be recorded in the office of the County Recorder of Santa Clara County a notice of special tax hen m the form required by the Act, said recording to occur no later than 90 days following adoption by the City Council of this Resolution Section 5 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 Section 6. 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 7th day of June 2017 by the following vote AYES. Mayor Emily Lo, Vice Mayor Mary -Lynne Bernald, Council Members E Manny Cappello, Howard A Miller NOES. ABSENT Council Member Rishi Kumar ABSTAIN• TyEASL„,/ sial Botheho, City Clerk Emiy Lo, Mayor DATE. b 70/ 2 CANVASS AND STATEMENT OF RESULTS OF ELECTION CITY OF SARATOGA COMMUNITY FACILITIES DISTRICT NO. 2016-1 ARROWHEAD PROJECT) I hereby certify that on May 2, 2017, I canvassed the returns of the special election held on May 2, 2017 for City of Saratoga Community Facilities Distnct No 2016-1 (Arrowhead Project), that the total number of ballots cast in said Community Facilities Distnct and the total number of votes cast for and against the proposition are as follows and that the totals as shown for and agamst the proposition are true and correct. City of Saratoga Community Facilities Distnct No. 2016-1 Arrowhead Project) Special Election, May 2, 2017 Votes Cast YES NO 50 50 0 BALLOT MEASURE Shall the City of Saratoga (the "City") incur an indebtedness and issue bonds in one or more senes in the maximum aggregate pnncipal amount of $6,000,000, the maximum term of which shall not exceed thirty-one (31) years from their date of issuance, and with interest at a rate or rates not to exceed the maximum interest rate permitted by law at the time of sale of such bonds on behalf of the City of Saratoga Community Facilities District No. 2016-1 Arrowhead Project) (the "Distnct"), the proceeds of which will be used only to finance the costs of certain water improvements as specified in the Resolution of Formation of the Distnct and the costs of establishing the District and issuing the bonds as well as the establishment of appropriate bond and interest rate reserves; shall a special tax payable solely from lands witlun the District be levied annually upon lands within the District to be applied only to the payment of the principal and interest upon such bonds to be issued and to replenish the reserves for the bonds, and to pay the costs of the City in admimstenng the District, and shall the annual appropriations limit of the District be established in the amount of $6,000,0009 IN WITNESS WHEREOF, I have hereunto set my hand this 31 day of May 2017. octi avidA v Crysl'al Botheho, City Clerk City of Saratoga RECORDING REQUESTED BY AND AFTER RECORDATION RETURN TO. City Clerk City of Saratoga 13777 Fruitvale Avenue Saratoga, CA 95070 This document is recorded for the benefit of the City of Saratoga and is exempt from recording fees, pursuant to Government Code Sections 6103 and 27383 NOTICE OF SPECIAL TAX LIEN CITY OF SARATOGA COMMUNITY FACILITIES DISTRICT NO. 16-1 ARROWHEAD PROJECT) Pursuant to the requirements of Section 3114.5 of the California Streets and Highways Code and Section 53328 3 of the Mello -Roos Community Facilities Act of 1982 (the "Act"), the undersigned City Clerk of the City of Saratoga (the "City"), hereby gives notice that a lien to secure payment of a special tax is hereby imposed by the City Council of the City The special tax secured by this hen is authorized to be levied for the purpose of paying the pnncipal of and interest on bonds, the proceeds of which are being used to finance the facilities described under the caption Facilities" on Exhibit A attached hereto and hereby made a part hereof (the "Facilities"), and expenses related to the bonds and the Communities Facilities District (defined below) The special tax is authorized to be levied within City of Saratoga Community Facilities District No 16-1 (Arrowhead Project) (the "Community Facilities Distnct") which has now been officially formed and the lien of the special tax is a continuing hen which shall secure each annual levy of the special tax and which shall continue m force and effect until the special tax obligation is prepaid, permanently satisfied, and canceled in accordance with law or until the special tax ceases to be levied and a notice of cessation of special tax is recorded in accordance with Section 53330 5 of the Act The rate, method of apportionment, and manner of collection of the authorized special tax is as set forth in Exhibit B attached hereto and hereby made a part hereof Conditions under which the obligation to pay the special tax for the Facilities may be prepaid and permanently satisfied and the hen of the special tax canceled are as set forth in Exhibit B hereto. Notice is further given that upon the recording of this notice in the office of the County Recorder of the County of Santa Clara, the obligation to pay the special tax levy shall become a lien upon all nonexempt real property within the Community Facilities District in accordance with Section 3115 5 of the California Streets and Highways Code.