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Packet 07182022
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7/14/2022 11:12:54 AM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agenda
Document Date (6)
7/18/2022
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File Number: 22-271 <br />bonds of the CFD. The resolution also calls a public hearing for September 6, 2022. <br />Conclusion and Next Steps <br />Adopting the attached resolutions of intention is the first step to establish the CFD, authorize <br />special taxes, and incur a bonded indebtedness. The formation of the CFD will occur after a <br />public hearing, scheduled for September 6, 2022. At that hearing, the Council will be presented <br />with additional information regarding the CFD, the special taxes, and public facilities and <br />services. The public will also have the opportunity to comment on the CFD. After the conclusion <br />of the September 6, 2022 public hearing, the Council may take the following actions: <br />1.Adopt resolutions establishing the CFD and declaring need for bonded indebtedness; <br />2.Call a special landowner election; <br />3.Conduct the election, with the City as the sole landowner voter; <br />4.Adopt a resolution declaring the results of the election; <br />5.Introduce for first reading an ordinance authorizing the levy of special taxes in the CFD. <br />The adoption of the two resolutions of intention under consideration this evening will not commit <br />the City Council to establish the CFD nor authorize the levy of special taxes or the issuance of <br />bonds. The City Council may establish the CFD only after conducting the September 6 public <br />hearing and election. Following the September 6 proceedings, the proposed schedule to <br />complete the formation of the CFD is as follows: <br />•September 20, 2022: Second reading of ordinance authorizing special tax levy; <br />•October 20, 2022: Special Tax Ordinance becomes effective. <br />The resolutions and related documents were prepared and reviewed by the City ’s finance team, <br />which includes bond counsel, municipal advisor, and special tax consultant. <br />Financial Impacts <br />There is no fiscal impact on the City to declare the City's intention to form the CFD and issue <br />bonds for the CFD. All costs to form the CFD will be reimbursed to the City. Additionally, the <br />CFD special taxes will provide a funding source for public infrastructure and public services <br />needed for the project, payable solely by those located within the boundary of the CFD. The <br />annual costs to administer the CFD and any bonds issued for the CFD are paid from annual <br />special taxes to be accounted for in a special fund and to be levied annually on property owner or <br />lessees of City-owned property within the boundaries of the CFD. <br />ATTACHMENTS: <br />Attachment A: Resolution of Intention to establish CFD No. 2022-1 and authorize the levy <br />of a special tax within CFD No. 2022-1 <br />Exhibit A - Boundary Map <br />Exhibit B - Facilities List <br />Exhibit C - Services List <br />Exhibit D - Rate and Method of Apportionment <br />Attachment B: Resolution of Intention to Incur Bonded Indebtedness for CFD No. 2022-1 <br />Page 4 City of San Leandro Printed on 7/13/2022
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