AGENDA REPORT
REQUEST FOR CITY COUNCIL ACTION
DATE: 9/19/2018
TO: Honorable Mayor and City Council Members
FROM: Administrative Service Department
SUBJECT:
Title
Public Hearing for City Council consideration to adopt Resolution No. 2018-095 establishing Community Facilities District No. 2018-2 (Sierra Bella) and approving a funding and acquisition agreement, Resolution No. 2018-096 determining necessity, Resolution No. 2018-097 calling election, Resolution No. 2018-098 declaring results of election, and first reading of Ordinance No. 3283 authorizing levy of special taxes.
End
RECOMMENDED ACTION:
Recommended action
That the City Council:
1. Adopt Resolution No. 2018-095 establishing Community Facilities District No. 2018-2 (Sierra Bella) of the City of Corona, County of Riverside, State of California, and the boundaries thereof and approving a Funding and Acquisition Agreement.
2. Adopt Resolution No. 2018-096 determining the necessity for Community Facilities District No. 2018-2 (Sierra Bella) to incur a bonded indebtedness in an aggregate principal amount not to exceed $20,000,000 for providing public facilities within and for the community facilities district and calling a special election for the community facilities district on a proposition for incurring such bonded indebtedness.
3. Adopt Resolution No. 2018-097 calling a special election and submitting to the voters of Community Facilities District No. 2018-2 (Sierra Bella) of the City of Corona propositions regarding the annual levy of special taxes within the community facilities district to pay principal of and interest on bonds thereof and to pay the cost of public facilities, a proposition with respect to the annual levy of special taxes within the community facilities district to the cost of certain services, and establishing an appropriations limit therefor.
4. Adopt Resolution No. 2018-098 declaring the results of the consolidated special elections within Community Facilities Dist...
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