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File Number: 22-271 bonds of the CFD. The resolution also calls a public hearing for September 6, 2022. Conclusion and Next Steps Adopting the attached resolutions of intention is the first step to establish the CFD, authorize special taxes, and incur a bonded indebtedness. The formation of the CFD will occur after a public hearing, scheduled for September 6, 2022. At that hearing, the Council will be presented with additional information regarding the CFD, the special taxes, and public facilities and services. The public will also have the opportunity to comment on the CFD. After the conclusion of the September 6, 2022 public hearing, the Council may take the following actions: 1.Adopt resolutions establishing the CFD and declaring need for bonded indebtedness; 2.Call a special landowner election; 3.Conduct the election, with the City as the sole landowner voter; 4.Adopt a resolution declaring the results of the election; 5.Introduce for first reading an ordinance authorizing the levy of special taxes in the CFD. The adoption of the two resolutions of intention under consideration this evening will not commit the City Council to establish the CFD nor authorize the levy of special taxes or the issuance of bonds. The City Council may establish the CFD only after conducting the September 6 public hearing and election. Following the September 6 proceedings, the proposed schedule to complete the formation of the CFD is as follows: •September 20, 2022: Second reading of ordinance authorizing special tax levy; •October 20, 2022: Special Tax Ordinance becomes effective. The resolutions and related documents were prepared and reviewed by the City ’s finance team, which includes bond counsel, municipal advisor, and special tax consultant. Financial Impacts There is no fiscal impact on the City to declare the City's intention to form the CFD and issue bonds for the CFD. All costs to form the CFD will be reimbursed to the City. Additionally, the CFD special taxes will provide a funding source for public infrastructure and public services needed for the project, payable solely by those located within the boundary of the CFD. The annual costs to administer the CFD and any bonds issued for the CFD are paid from annual special taxes to be accounted for in a special fund and to be levied annually on property owner or lessees of City-owned property within the boundaries of the CFD. ATTACHMENTS: Attachment A: Resolution of Intention to establish CFD No. 2022-1 and authorize the levy of a special tax within CFD No. 2022-1 Exhibit A - Boundary Map Exhibit B - Facilities List Exhibit C - Services List Exhibit D - Rate and Method of Apportionment Attachment B: Resolution of Intention to Incur Bonded Indebtedness for CFD No. 2022-1 Page 4 City of San Leandro Printed on 7/13/2022