File #: ID#15-913    Version: 1 Name:
Type: Resolution of Intention Status: Passed
File created: 10/6/2016 In control: City Council
On agenda: 10/18/2016 Final action: 10/18/2016
Title: Monte Bella Community Facilities District (CFD) Formation
Attachments: 1. 01 - City Council-Report - Monte Bella CFD Formation, 2. 02 - Reimbursement Agreement - DOCSOC_1771400v4, 3. 03 - Resolution Approving Local Goals and Policies for Sal.. - DOCSOC_1781091v2, 4. 04 - City of Salinas Financial Policies - Redline of CFD Policy Changes, 5. 05 - A Resolution of Intention to Establish CFD 2016-1 (Mont.. - DOCSOC_1776123v6, 6. 05 - Exhibit A - Boundary Map - CFD Overall-SHT 1, 7. 05 - Exhibit A - IMPROVEMENT AREA 1 PLATS AND DESC, 8. 05 - Exhibit A - IMPROVEMENT AREA 2 PLATS AND DESC, 9. 05 - Exhibit A - IMPROVEMENT AREA 3 PLATS AND DESC, 10. 05 - Exhibit C-1 - RMA- Salinas CFD (Monte Bella) Improvement Area 1 Final, 11. 05 - Exhibit C-2 - RMA- Salinas CFD (Monte Bella) Improvement Area 2 Final, 12. 05 - Exhibit C-3 - RMA- Salinas CFD (Monte Bella) Improvement Area 3, 13. 06 - A Resolution of Intention to Incur Indebtedness for CFD.. - DOCSOC_1776119v4, 14. 07 - Petition_to_Establish_CFD

Title

Monte Bella Community Facilities District (CFD) Formation

Recommended Action

Authorize City Manager to execute Reimbursement Agreement between the Developer and the City providing for a deposit to cover costs of formation of Community Facilities District No. 2016-1 (Monte Bella) and Improvement Area Nos. 1, 2 and 3 therein; approve a resolution for amended revised Financial Policies and adopting Local Goals and Policies; and approve a resolution declaring its intention to establish Community Facilities District No. 2016-1 (Monte Bella) and Improvement Area Nos. 1, 2 and 3 therein, to authorize the levy of a special tax to pay the cost of acquiring or constructing certain public facilities, and paying for certain incidental expenses and to pay debt service on bonded indebtedness, and adopt a resolution to incur bonded indebtedness within Community Facilities District No. 2016-1 (Monte Bella) and Improvement Area Nos. 1, 2 and 3 therein.