HomeMy WebLinkAboutR-10987 TO INCUR BONDED INDEBTEDNESS OF THE PROPOSED CITY OF SAN LUIS OBISPO COMMUNITY FACILITIES DISTRICTRESOLUTION NO. 10987 (2019 SERIES)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN LUIS
OBISPO, CALIFORNIA, TO INCUR BONDED INDEBTEDNESS OF THE
PROPOSED CITY OF SAN LUIS OBISPO COMMUNITY FACILITIES
DISTRICT NO. 2019-1 (SAN LUIS RANCH)
WHEREAS, the City Council (the "City Council") of the City of San Luis Obispo (the
"City"), pursuant to the Mello -Roos Community Facilities Act of 1982 (the "Act"), has this date
adopted its Resolution entitled "A Resolution of the City Council of the City of San Luis Obispo
of Intention to Establish a Community Facilities District and to Authorize the Levy of Special
Taxes," stating its intention to establish City of San Luis Obispo Community Facilities District
No. 2019-1 (San Luis Ranch) (the "Community Facilities District") for the purpose of financing
certain public facilities (the "Facilities"), as further provided in said Resolution; and
WHEREAS, in order to finance the Facilities, it is necessary to incur bonded indebtedness
in the amount of up to $25,000,000.
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of San Luis Obispo
as follows:
SECTION 1. The foregoing recitals are true and correct.
SECTION 2. The City Council hereby declares that in order to finance the Facilities, it is
necessary to incur bonded indebtedness.
SECTION 3. The purpose for which the proposed debt is to be incurred is to provide the
funds necessary to pay the costs of the Facilities, including all costs and estimated 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 4. The maximum amount of the proposed debt is $25,000,000.
SECTION 5. The City Council hereby fixes Tuesday, April 2, 2019, at 6:00 p.m., or as
soon thereafter as the City Council may reach the matter, at 990 Palm Street, San Luis Obispo,
California, as the time and place when and where the City Council will conduct a public hearing
on the proposed debt authorization.
SECTION 6. 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 proposed Community Facilities District. The publication of said notice shall be
completed at least seven days prior to the date herein fixed for said public hearing. Said notice
shall contain the information prescribed by Section 53346 of the Act.
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Resolution No. 10987 (2019 Series)
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SECTION 7. 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 8. This Resolution shall take effect immediately upon its adoption.
Upon motion of Vice Mayor Pease, seconded by Council Member Christianson and on the
following roll call vote:
AYES: Council Members Christianson, Gomez, and Stewart,
Vice Mayor Pease, and Mayor Harmon.
NOES: None
ABSENT: None
The foregoing resolution was adopted this 19`h day of February 201?.
Mayor Ueidi
ATTEST:
Teresa Purrington, City d Ick
AS
11
].,Christine Dietrick, City Attorney
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the City
of San Luis Obispo, California, this �-r day of \-Ia v- cx.\� , -)-o tcl -
Teresa Purrington, City Cl k
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