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RES-1989-05011009-30 JHHW:PJT:c~ 02 1489 J6686 RESOLUTION NO. 8 9 R- 5 0 A RESOLUTION DETERMINING THE NECESSITY TO INCUR BONDED INDEBTEDNESS WITHIN COMMUNITY FACILITIES DISTRICT NO. 1989- I (SYCAMORE CANYON) AND SUBMITTING PROPOSITION TO THE QUALIFIED ELECTORS OF THE DISTRICT Community Facilities District No. 1989-1 (Sycamore Canyon) RESOLVED, by the City Council of the City of Anaheim (the "City") that: WHEREAS, on December 20, 1988, this City Council adopted a resolution entitled "A Resolution of Intention to Establish a Community Facilities District and to Authorize the Levy of Special Taxes Pursuant to the Mello-Roos Act of 1982" (the "Resolution of Intention") stating its intention to form Community Facilities District No. 1989-1 (Sycamore Canyon) (the "District"), of the City pursuant to the Mello-Roos Community Facilities Act of 1982, as amended, (the "Act"); and WHEREAS, on December 20, 1988, this City Council also adopted a resolution entitled 'A Resolution of Intention to Incur Bonded Indebtedness of the Proposed Community Facilities District No. 1989-1 (Sycamore Canyon) Pursuant to the Mello- Roos Community Facilities Act of 1982" (the "Resolution of Intention to Incur Indebtedness") stating its intention to incur bonded indebtedness within the boundaries of the District for the purpose of financing the costs of certain facilities and services specified in the Resolution of Intention; and WHEREAS, on February 7, 1989 and continued to this date, this City Council held a noticed public hearing as required by the Act relative to the determination to proceed with the formation of the District, the provision of said facilities and certain services specified in the Resolution of Intention and the rate and method of apportionment of the special tax to be levied within the District to pay the principal and interest on the proposed indebtedness, the annual costs to the City of providing said services and the administrative costs of the City relative to the District; and WHEREAS, at said hearing all persons desiring to be heard on all matters pertaining to the formation of the District, the provision of said facilities and services, and the levy of the special tax on property within the District were heard and a full and fair hearing was held; and WHEREAS, subsequent to said hearing, this City Council adopted a resolution entitled 'A Resolution Of Formation Of Community Facilities District No. 1989-1 (Sycamore Canyon), Authorizing The Levy Of A Special Tax Within The District, Preliminarily Establishing An Appropriations Limit For The District And Submitting Levy Of The Special Tax and the Establishment of the Appropriations Limit To The Qualified Electors Of The District" (the "Resolution of Formation") which modified the description of said facilities and services to be financed to be only those facilities listed in Exhibit A to the Resolution of Formation (the "Facilities"); and WHEREAS, on February 7, 1989 and continued to this date, this City Council held a noticed public hearing as required by the Act relative to the matters material to the questions set forth in the Resolution of Intention to Incur Indebtedness; and WHEREAS, no written protests with respect to the matters material to the questions set forth in the Resolution of Intention to Incur Indebtedness have been filed with the City Clerk. NOW, THEREFORE, IT IS HEREBY ORDERED as follows: 1. The foregoing recitals are true and correct. 2. It is necessary to incur bonded indebtedness in the maximum aggregate principal amount of $6,710,000 within the boundaries of the District. 3. The indebtedness is incurred for the purpose of financing the costs of the Facilities, as provided in the Resolution of Formation including, but not limited to, the costs of issuing and selling bonds to finance the Facilities and the initial costs of the City in administering the District. 4. The whole of the District shall pay for the bonded indebtedness through the levy of the special tax. The tax is to be apportioned in accordance with the formula set forth in Exhibit "B" to the Resolution of Formation. 5. The maximum amount of bonded indebtedness to be incurred is $6,710,000 and the maximum term of the bonds to be issued shall in no event exceed forty (40) years. 6. The bonds shall bear interest at rate or rates not to exceed the maximum interest rate permitted by applicable law at the time of sale of the bonds, payable semiannually or in such other manner as this City Council or its designee shall determine, the actual rate or rates and times of payment of such interest to be determined by this City Council or its designee at the time or times of sale of said bonds. 7. The proposition of incurring the bonded indebtedness herein authorized shall be submitted to the qualified electors of the District and shall be consolidated with elections on the proposition of levying special taxes within the District and the establishment of an appropriations limit for the District pursuant to Section 53353.5 of the Act. The time, place and conditions of said election shall be as specified by separate resolution of this City Council. -2- PASSED AND ADOPTED this 21st day of February, 1989. ATTEST: ~_,./~i ~ City Clerk -3- CLERK STATE OF CALIFORNIA ) COUNTY OF ORANGE ) ss. CITY OF ANAHEIM ) I, LEONORA N. SOHL, City Clerk of the City of Anaheim, do hereby certify that the foregoing Resolution No. 89R-50 was introduced and adopted at a regular meeting provided by law, of the City Council of the City of Anaheim held on the 21st day of February, 1989, by the following vote of the members thereof: AYES: COUNCIL MEMBERS: Daly, Ehrle, Pickler, Kaywood and Hunter NOES: COUNCIL MEMBERS: None ABSENT: COUNCIL MEMBERS: None AND I FURTHER CERTIFY that the Mayor of the City of Anaheim signed said Resolution No. 89R-50 on the 22nd day of February, 1989. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the City of Anaheim this 22nd day of February, 1989. CITY CLERK OF THE CITY OEANAHEIM ( SEAL) I, LEONORA N. SOHL, City Clerk of the City of Anaheim, do hereby certify that the foregoing is the original of Resolution No. 89R-50 duly passed and adopted by the Anaheim City Council on February 21, 1989. CITY CLERK OF THE CITY OF A~AHEIM