Reso 2022-149 Determining Necessity to Incur Debt

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of related environmental evaluations; all costs associated with the establishment of the CFD, the issuance of bonds and other Debt, the determination of the amount of any special taxes, and the collection or payment of any special taxes; and any costs otherwise incurred to carry out the authorized purposes of the CFD, together with any other expenses incidental to the acquisition and construction of the Facilities. SECTION 5. The whole of the territory within the CFD will be benefited by the Debt and will be subject to the special tax to pay for the Debt. SECTION 6. The aggregate principal amount of the proposed Debt to be incurred, in one or more series, to finance the acquisition and construction of the Facilities may not exceed the Authorization, which amount, in each case, includes all costs and estimated costs incidental to, or connected with, the accomplishment of the purpose for which the Debt is proposed to be incurred, including the estimated costs of acquisition of land and rights -of -way; capacity or connection fees; satisfaction of contractual obligations relating to expenses or the advancement of funds for expenses existing at the time the Debt issued under the Act; fees for architectural, engineering, inspection, legal, fiscal, and financial -consultant services; bond and other reserve funds; discount fees; interest on any Debt estimated to be due and payable within two years of issuance of the Debt; election costs; and all costs of issuance or incurrence of the Debt, including fees for bond counsel and disclosure counsel, costs of obtaining credit ratings, bond -insurance premiums, fees for letters of credit and other credit -enhancement costs, and printing costs. SECTION 7. 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 8. Under Government Code section 53353.5, the question of levying the special tax to finance the construction and acquisition of the Facilities, the question of setting the appropriations limit for the CFD, and the question of whether Debt may be incurred for the CFD will be combined into a single ballot question and submitted to the qualified electors of the CFD at a special mailed -ballot election, as described in Section 9. SECTION 9. The elections must be conducted in accordance with a separate City Council resolution calling a special election for the CFD, adopted this date, to which reference is made for further particulars. SECTION 10. If the ballot proposition related to the incurrence of Debt for the CFD receives the approval of two-thirds or more of the votes cast on the proposition, then the Debt may be issued and sold for the purpose for which it was authorized, and the Debt will be paid exclusively from the annual levy of the special tax as described herein (except where special funds are otherwise available), and in any and all cases is not and may not be secured by any other taxing power or funds of the City. SECTION 11. Any Debt issued will be callable (i.e., may be redeemed or prepaid before maturity) in accordance with the Act. RESOLUTION NO. 2022-149 3