Reso 2022-127 A - Resolution of Intention to establish CFD No. 2022-1 and authorize the levy of a special tax within CFD No. 2022-1

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SECTION 4. The City Council hereby finds that property, if any, included within the boundary of the CFD that is currently devoted primarily to agricultural, timber, or livestock uses and used for the commercial production of agricultural, timber, or livestock products will be benefited by the proposed public facilities and public services. SECTION 5. The City Council intends, in accordance with the Act, to finance the acquisition and construction of the public facilities, including through the financing of governmentally imposed development impact fees used to finance public facilities, listed on Exhibit B to this resolution (the "Facilities"). All of the Facilities have an estimated useful life of five years or longer and are public facilities that — (a) the City or other governmental agencies are authorized by law to construct, own, or operate, or to which they may contribute revenue; and (b) are necessary to meet increased demands on the City or other governmental agencies as the result of development occurring or expected to occur within the CFD. SECTION 6. The City Council intends, in accordance with the Act, to finance the provision of the public services listed on Exhibit C to this resolution (the "Services"). All of the Services — (a) are necessary to meet increased demands on the City or other governmental agencies as the result of development occurring or expected to occur within the CFD; and (b) are in addition to those provided in the territory of the CFD as of the date hereof and will not supplant services already available within the territory of the CFD as of the date hereof. SECTION 7. The City Council intends that, except where funds are otherwise available, the City will levy a special tax within the CFD (the "Special Tax") to pay directly for the Services and the Facilities and to pay the principal and interest on bonds and other debt (as defined in the Act) of the City issued for the CFD to finance the Facilities. The Special Tax will be secured by recordation of a continuing lien against all non-exempt real property in CFD. The non-exempt real property subject to the Special Tax consists of both fee title interests and leasehold or possessory interests in land currently owned by the City. The proposed rate and method of apportionment of the Special Tax is attached as Exhibit D to this resolution (the "RMA") and is in sufficient detail to allow each landowner or resident within the CFD to estimate the maximum amount the landowner or resident will have to pay. SECTION 8. Among other things, the Special Tax will be used — (a) to make payments on bonds or other debt (as defined in the Act) to be issued to finance the acquisition and construction of the Facilities, including the payment of interest on, and principal of, the bonds or other debt, and to pay directly for Facilities or to finance the making of lease payments for Facilities (whether in conjunction with the issuance of certificates of participation or not); RESOLUTION 2022-127 2