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RES-2008-054OHS West:260382759.3 RESOLUTION NO. 2008 054 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ANAHEIM DEEMING IT NECESSARY TO INCUR BONDED INDEBTEDNESS WITHIN CITY OF ANAHEIM COMMUNITY FACILITIES DISTRICT NO. 08 -1 (PLATINUM TRIANGLE) WHEREAS, on January 29, 2008, the City Council (the "City Council of the City of Anaheim (the "City pursuant to the Mello -Roos Community Facilities Act of 1982 (the "Act adopted a resolution entitled "A Resolution of the City Council of the City of Anaheim of Intention to Establish a Community Facilities District and to Authorize the Levy of Special Taxes" (the "Resolution of Intention stating its intention to form City of Anaheim Community Facilities District No. 08 -1 (Platinum Triangle) (the "Community Facilities District and to authorize the levy of special taxes within the Community Facilities District to finance certain public facilities and services; WHEREAS, on January 29, 2008, the City Council also adopted a resolution entitled "A Resolution of the City Council of the City of Anaheim to Incur Bonded Indebtedness of the Proposed City of Anaheim Community Facilities District No. 08 -1 (Platinum Triangle)" (the "Resolution to Incur Bonded Indebtedness declaring the necessity for incurring bonded indebtedness and setting the date for a public hearing to be held on the proposed debt issue; WHEREAS, pursuant to the Resolution to Incur Bonded Indebtedness, notice of said public hearing was published in the Anaheim Bulletin, a newspaper of general circulation published in the area of the Community Facilities District, in accordance with the Act; WHEREAS, on March 4, 2008, the City Council opened and continued said public hearing to April 22, 2008; WHEREAS, on this date, the City Council conducted and closed said public hearing; WHEREAS, at said public hearing, any person interested, including persons owning property within the area and desiring to appear and present any matters material to the questions set forth in the Resolution to Incur Bonded Indebtedness appeared and presented such matters; WHEREAS, no oral or written protests against the proposed debt issue were made or filed at or before said public hearing; WHEREAS, on this date, the City Council adopted a resolution entitled "A Resolution of the City Council of the City of Anaheim of Formation of City of Anaheim Community Facilities District No. 08 -1 (Platinum Triangle), Authorizing the Levy of a Special Tax within the District and Establishing an Appropriations Limit for the District" (the "Resolution of Formation WHEREAS, the City Clerk of the City (the "City Clerk is the election official that will conduct the special election on the proposition to incur bonded indebtedness for the Community Facilities District; WHEREAS, there has been filed with the City Clerk a letter from the Registration and Elections Department of the County of Orange indicating that 12 or more persons have not been registered to vote within the territory of the Community Facilities District for each of the 90 days preceding the close of said public hearing; NOW, THEREFORE, the City Council of the City of Anaheim does hereby resolve, determine and order as follows: Section 1. The foregoing recitals are true and correct. Section 2. The City Council deems it necessary to incur the bonded indebtedness. Section 3. The bonded indebtedness will be incurred for the purpose of financing the costs of the Facilities (as defined in the Resolution of Formation), including all costs and estimated costs incidental to, or connected with, the accomplishment of such purpose. Section 4. In accordance with the previous determination of the City Council, the whole of the Community Facilities District will pay for the bonded indebtedness. years. Section 5. The maximum amount of debt to be incurred is $480,000,000. Section 6. The maximum term the bonds to be issued shall run before maturity is 40 Section 7. The maximum annual rate of interest to be paid shall not exceed the maximum interest rate permitted by applicable law at the time of sale of the bonds, payable semiannually or at such times as the City Council or its designee shall determine, the actual rate or rates and times of payment of such interest to be determined by the City Council or its designee at the time or times of sale of the bonds. Section 8. The proposition to incur the bonded indebtedness will be submitted to the voters. Section 9. The City Council hereby finds and determines that 12 or more persons have not been registered to vote within the territory of the Community Facilities District for each of the 90 days preceding the close of the public hearings held by the City Council on the proposed debt issue for the Community Facilities District. Accordingly, pursuant to Section 53326 of the Act, the vote shall be by the landowners of the Community Facilities District and each landowner who is the owner of record as of the close of said public hearings, or the authorized representative thereof, shall have one vote for each acre or portion of an acre that he or she owns within the Community Facilities District. Section 10. The date of the special community facilities district election (which shall be consolidated with the special district election to levy a special tax within the Community Facilities District) at which time the proposition shall be submitted to the voters is July 24, 2008. Section 11. The election is to be conducted by mail ballot. The mailed ballots are required to be received in the office of the City Clerk no later than 8:00 p.m. on July 24, 2008; OHS West: 260382759.3 2 provided, however, that if all of the qualified electors have voted prior to such time, the election may be closed. Section 12. 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. PASSED AND ADOPTED by the City Council of the City of Anaheim on April 22, 2008 by the following roll call vote: ATTEST: Section 13. This Resolution shall take effect immediately upon its adoption. AYES: Mayor Pringle, Council Members Hernandez, Sidhu, Galloway, Kring NOES: NONE ABSENT: NONE ABSTAIN: NONE City Clerk OHS West:260382759.3 3 d Mayor STATE OF CALIFORNIA COUNTY OF ORANGE CITY OF ANAHEIM NOES: COUNCIL MEMBERS: NONE ABSENT: COUNCIL MEMBERS: NONE Dated: April 22 2008 OHS West:260382759.3 CLERK'S CERTIFICATE I, Linda N. Andal, City Clerk of the City of Anaheim, California hereby certify that the foregoing is a full, true and correct copy of a Resolution duly adopted at a regular meeting of the City Council of said City duly and regularly held at the regular meeting place thereof on April 22, 2008, of which meeting all of the members of said City Council had due notice and at which a majority thereof were present; and that at said meeting said Resolution was adopted by the following vote: Mayor Pringle, AYES: COUNCIL MEMBERS: Hernandez, Sidhu, Galloway, Kring An agenda of said meeting was posted at least 72 hours before said meeting at 200 South Anaheim Boulevard, Anaheim, California, a location freely accessible to members of the public, and a brief general description of said Resolution appeared on said agenda. I further certify that I have carefully compared the same with the original minutes of said meeting on file and of record in my office; that the foregoing Resolution is a full, true and correct copy of the original Resolution adopted at said meeting and entered in said minutes; and that said Resolution has not been amended, modified or rescinded since the date of its adoption, and the same is now in full force and effect. 1.6 City Clerk