HomeMy WebLinkAboutCC RES 07-36RESOLUTION NO. 07-36
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
TUSTIN TO INCUR BONDED INDEBTEDNESS OF THE
PROPOSED CITY OF TUSTIN COMMUNITY FACILITIES
DISTRICT NO. 07-1 (TUSTIN LEGACY/RETAIL CENTER)
WHEREAS, the City Council (the "City Council") of the City of Tustin (the "City")
has this date adopted its Resolution entitled "A Resolution of the City Council of the City
of Tustin of Intention to Establish a Community Facilities District and to Authorize the
Levy of Special Taxes," stating its intention to establish the City of Tustin Community
Facilities District No. 07-1 (Tustin LegacylRetail Center} (the "Community Facilities
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, in order to finance the Facilities it is necessary to incur bonded in-
debtedness in the amount of up to $16,000,000;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Tustin
as follows:
Section 1. The City Council hereby declares that in orderto finance the Facilities,
it is necessary to incur bonded indebtedness.
Section 2. The purpose for which the proposed debt is to be incurred is to pro-
vide 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.
Section 3. The maximum amount of the proposed debt is $16,000,000.
Section 4. The City Council hereby fixes Tuesday, June 5, 2007, at 7:00 p.m., or
as soon thereafter as the City Council may reach the matter, at 300 Centennial Way,
Tustin, California, as the time and place when and where the City Council will conduct a
public hearing on the proposed debt issue.
Section 5. 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.
Section 6. 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
Resolution No. 07-36
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necessary or desirable to accomplish the purposes of this Resolution and not inconsis-
tentwith the provisions hereof.
Section 7. This Resolution shall take effect immediately upon its adoption.
PASSED AND ADOPTED at a regular meeting of the City Council of the City of
Tustin on the 1st day of May, 2007.
LOU BONE
Mayor
PAMELA STOKER
City Clerk
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) SS
CITY OF TUSTIN )
I, Pamela Stoker, City Clerk and ex-officio Clerk of the City Council of the City of Tustin,
California, do hereby certify that the whole number of the members of the City Council of
the City of Tustin is five; that the above and foregoing Resolution No. 07-36 was duly
passed and adopted at a regular meeting of the Tustin City Council, held on the 1 St day of
May, 2007, by the following vote:
COUNCILMEMBER AYES: Bone. Amante. Davert. Kawashima . Palmer (5)
COUNCILMEMBER NOES: None (0)
COUNCILMEMBERABSTAINED: None (0)
COUNCILMEMBERABSENT: None (0)
PAMELA STOKER
City Clerk
Resolution No. 07-36
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