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PUBLIC HEARING REGARDING BONDED INDEBTEDNESS FOR COMMUNITY FACILITIES DISTRICT CITY OF SAN LUIS OBISPO COMMUNITY FACILITIES DISTRICT NO. 2019-1 (SAN LUIS RANCH)

Post Date:03/26/2019 4:22 PM

Notice is hereby given that on February 19, 2019, the City Council (the “City Council”) of the City of San Luis Obispo (the “City”) adopted a Resolution entitled “A Resolution of the City Council of the City of San Luis Obispo to Incur Bonded Indebtedness of the Proposed City of San Luis Obispo Community Facilities District No. 2019-1 (San Luis Ranch)” (the “Resolution”). Pursuant to Section 53346 of the Mello-Roos Community Facilities Act of 1982, the City Council hereby gives notice as follows:

  1. The text of the Resolution is as follows:

    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 City 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.
    • 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.
  2. The time and place of the hearing on the proposal to issue debt of the Community Facilities District are 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.
  3. At the hearing, the testimony of all interested persons, including all persons owning property in the area of the Community Facilities District, for and against the proposed Community Facilities District debt issuance will be heard.

 

Teresa Purrington

City Clerk
City of San Luis Obispo

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