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HomeMy WebLinkAboutCC RES 95-119RESOLUTION N0.95-119 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF TUSTIN ADOPTING THE REASSESSMENT REPORT FOR REASSESSMENT DISTRICT NO. 95-2 (TUSTIN RANCH), CONFIRMING AND ORDERING THE REASSESSMENT PURSUANT TO SUMMARY PROCEEDINGS THEREFOR AND DIRECTING ACTIONS WITH RESPECT THERETO Reassessment District No. 95-2 (Tustin Ranch) WHEREAS, the City Council (the "City Council") of the City of Tustin (the "City"), by a Resolution, entitled "A Resolution of the City Council of the City of Tustin of Intention to Levy Reassessments and to Issue Refunding Bonds Upon the Security Thereof', adopted on November 20, 1995 (the "Resolution of Intention"), resolved its intention to form Reassessment District No. 95-2 (Tustin Ranch) (the "District") as security for the City of Tustin Limited Obligation Improvement Bonds, Reassessment District No. 95-2 (Tustin Ranch) (the "Bonds") and therein directed the making and filing of a reassessment report (the "Report") in writing in accordance with and pursuant to the Refunding Act of 1984 for 1915 Improvement Act Bonds, Division 11.5 of the California Streets and Highways Code (the "Act"); and WHEREAS, the Report was duly made and filed, and duly considered by the City Council and found to be sufficient in every particular, and the Report shall stand for all subsequent proceedings under and pursuant to the aforesaid Resolution of Intention. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Tustin as follows: Section 1. Pursuant to Section 9525 of the Act, and based upon the Report, the City Council finds that all of the following conditions aze satisfied: (a) Each of the estimated annual installments of principal and interest on the reassessment as set forth in the Report is less than the corresponding annual installment of principal and interest on the original assessment as also set forth in the Report, by the same percentage for all subdivisions of land with the District; (b) The number of yeazs to maturity of all Bonds proposed to be issued is no more than the number of years to the last maturity of the bonds being refunded (the "Prior Bonds"); and (c) The principal amount of the reassessment on each subdivision of land within the District is less than the unpaid principal amount of the original assessment by the same percentage for each subdivision of land in the District. Section 2. The public interest, convenience and necessity require that said reassessment be made. Section 3. The district benefited by said reassessment and to be reassessed to pay the costs and expenses thereof, and the exterior boundaries thereof, are as shown by a map thereof heretofore filed in the office of the City Clerk, which map is made a part hereof by reference thereto. Section 4. Pursuant to the findings hereinabove expressed with respect to Section 9525 of the Act, said conditions, and all of them, aze deemed satisfied and the following elements of the Report are hereby finally approved and confirmed without further proceedings, including the conduct of a public hearing under the Act: (a) a schedule setting forth the unpaid principal and interest on the Prior Bonds to be refunded and the total amounts thereof; (b) an estimate of the total principal amount of the reassessment and of the Bonds and the maximum interest thereon, together with an estimate of the cost of the reassessment and of issuing the Bonds, including expenses incidental thereto; (c) the auditor's record kept pursuant to Section 8682 of the California Streets and Highways Code showing the schedule of principal installments and interest on all unpaid original assessments and the total amounts thereof; (d) the estimated amount of each reassessment, identified by reassessment number corresponding to the reassessment number of the reassessment diagram, together with a proposed auditor's record for the reassessment prepared in the manner described in said Section 8682; and (e) a reassessment diagram showing the District and the boundaries and dimensions of the subdivisions of land therein. Section 5, Final adoption and approval of the Report as a whole, the estimate of the costs and expenses, the reassessment diagram and the reassessment, as contained in the Report, as hereinabove determined and ordered, is intended to and shall refer and apply to the Report, or any portion thereof, as amended, modified, revised or corrected by, or pursuant to and in accordance with, any resolution or order, if any, heretofore duly adopted or made by the City Council. Section 6. Said reassessment, including all costs and expenses thereof, is hereby levied. Pursuant to the provisions of the Act, reference is hereby made to the Resolution of Intention for further particulazs. Section 7. Based on the oral and documentary evidence, including the Report, offered and received by the City Council, the City Council expressly finds and determines: (a) that each of said several subdivisions of land will be specially benefited by said reassessment at least in the amount, if not more than the amount, of the reassessment apportioned against such subdivision of land; and (b) that there is substantial evidence to support, and the weight of said evidence preponderates in favor of, the aforesaid fording and determination as to special benefits, Section 8. That the City Clerk shall forthwith cause: (a) the reassessment to be delivered to the official of the City who is the Superintendent of Streets of the City, together with said reassessment diagram, as approved and confirmed by the City Council, with a certificate of such confirmation and of the date thereof, executed by the City Clerk, attached thereto. 2 Said Superintendent of Streets shall record said reassessment and reassessment diagram in a suitable book to be kept for that purpose, and append thereto a certificate of the date of such recording, and such recordation shall be and constitute the reassessment roll herein; (b) a copy of said reassessment diagram and a notice of reassessment, executed by the City Clerk, to be filed and recorded, respectively, in the office of the County Recorder of the County of Orange, such notice to be in substantially the form provided in Section 3114 of the California Streets and Highways Code; and (c) a copy of this Resolution to be provided to the Auditor of the County of Orange. From the date of recording of said notice of reassessment, all persons shall be deemed to have notice of the contents of such reassessment, and each of such reassessments shall thereupon be a lien upon the property against which it is made and, unless sooner discharged such liens shall so continue for the period of 19 years from the date of said recordation, or in the event bonds are issued to represent said reassessments, then such liens shall continue until the expiration of four yeazs after the due date of the last installment upon said bonds or of the last installment of principal of said bonds. The appropriate officer or officers aze hereby authorized to pay any and all fees required by law in connection with the above. Section 9. The officers and employees of the City aze 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 10. This Resolution shall take effect immediately upon its adoption. APPROVED and ADOPTED by the City Council of the City of Tustin on November 20, 19950 J° Potts, Mayor ATTEST: Pamela Stoker, City erk STATE OF CALIFORNIA ) COUNTY OF ORANGE ) ss I, Pamela Stoker, City Clerk of the City of Tustin, California hereby certify that the foregoing is a full, true and correct copy of a Resolution duly adopted at a regulaz meeting of the City Council of said City duly and regularly held at the regular meeting place thereof on November 20, 1995, 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: AYES: COUNCIL MEMBERS: Potts, Worley, Doyle, Saltarelli, Thomas NOES: COUNCIL MEMBERS: None ABSENT: COUNCIL MEMBERS: None An agenda of said meeting was posted at least 72 hours before said meeting at 300 Centennial Way, Tustin, 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 cazefully compazed 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. Dated: Nov. 20 ,1995 Pamela Stoker, ity Clerk