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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(b) to pay for Services; and (c) to repay funds advanced by the City for the CFD, including the repayment under any agreement (which will not constitute a debt or liability of the City) of advances of funds or reimbursement for the lesser of the value or cost of work in -kind provided by any person for the CFD and any administrative costs paid by the City related to the CFD. SECTION 9. The City Council, acting as the legislative body for the CFD, intends to cause bonds of the City to be issued for the CFD in accordance with the Act to finance or refinance in whole or in part the construction and acquisition of the Facilities. The bonds or other debt will be issued in such series, will bear interest payable semi-annually (or in any other manner as the City Council determines) at a rate not to exceed the maximum rate of interest authorized by applicable law at the time of sale of the bonds or other debt, and must mature not later than 40 years after the date of issuance. SECTION 10. When a Notice of Special Tax Lien is recorded under Streets and Highways Code section 3114.5 for the CFD, a continuing lien to secure the levy of the Special Tax will attach to all non-exempt real property in the CFD, and this lien will continue in force and effect until the special -tax obligation is permanently satisfied and the lien is cancelled in accordance with law, or until the City ceases levying the Special Tax. SECTION 11. The City Council intends that the proposed Special Tax will be collected through the regular secured property -tax bills of the County of Alameda and will be subject to the same enforcement mechanism, and the same penalties and interest for late payment, as regular ad valorem property taxes. But the City Council reserves the right to use any other lawful means of billing, collecting, and enforcing the Special Tax, including direct billing, supplemental billing, and, when lawfully available, judicial foreclosure of the special -tax lien, including accelerated foreclosure remedies set forth in the Act. SECTION 12. The RMA, included as Exhibit D, provides that the Special Tax may not be prepaid. As required by the Act, with respect to the portion of the Special Tax used for Facilities that is levied against any parcel used for private residential purposes (which use begins no later than the date on which an occupancy permit for private residential use is issued) — (a) the maximum Special Tax will be specified as a dollar amount that (1) will be calculated and thereby established no later than the date on which the parcel is first subject to the Special Tax because of its use for private residential purposes and (2) will not increase by more than two percent each year; (b) the Special Tax will not be levied against such property for Facilities beyond 100 years from the initial levy of the Special Tax (but the Special Tax lawfully levied in or before that year and that remains delinquent may be collected in subsequent years); and RESOLUTION 2022-127 3