HomeMy WebLinkAbout06-12-1995 Item #40BY THE CITY COUNCIL
CITY OF NEWPORT BEACH
A IN i 2 1995
May ;i1, 1995
CITY OF NEWPORT BEACH
DEPARTMENT OF FINANCE
Interdepartmental Memorandum
�. -7.6
TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: Dennis Danner, Director of Finance
SUBJECT: CIOSA RESOLUTIONS
DISCUSSION:
The City of Newport Beach and The Irvine Company entered into the Circulation
Improvement and Open Space Agreement (CIOSA) on June 30, 1993. This agreement
allows for the petition of the Council to form a Special Improvement District for the sale
of debt to finance public improvements including the construction of various street
improvements, including access roads, sidewalks, street widening, signal relocations,
median rework and landscaping, and storm drain facilities. This debt will be serviced
by assessments on the improved property.
In order to proceed with the formation of the Special Improvement District the City
Council must take several actions. In connection with the referenced financing the City
Council must approve the Special Improvement District Report; and adopt three (3)
resolutions as follows:
1. Resolution of Formation of the City of Newport Beach Special Improvement
District No. 95-1 (CIOSA).
2. Resolution Determining the Necessity to Incur Bonded Indebtedness.
3. Resolution Calling Special Election.
RECOMMENDATION:
It is respectfully recommended that the City Council approve the Special Improvement
District Report, the Resolution of Formation, the Resolution Determining Necessity to
Incur Bonded Indebtedness, and the Resolution Calling Special Election, for the City of
Newport Beach Special Improvement District No. 95-1 (CIOSA) Special Tax Bonds.
06/01/95 2:24 PM CIOSA.DOC
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RECORDING REQUESTED BY AND
AFTER RECORDATION RETURN TO:
City Clerk
City of Newport Beach
3300 Newport Boulevard
Newport Beach, CA 92663_
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CONFORMED COPY
NOTICE OF SPECIAL TAX LIEN Not Compared with Original
CITY OF NEWPORT BEACH
SPECIAL IMPROVEMENT DISTRICT NO. 95-1
(CIOSA)
Pursuant to the requirements of Section 3114.5 of the California Streets and
Highways Code and Section 320 of the City of Newport Beach Special Improvement District
Financing Code (the "Code"), the undersigned City Clerk of the City of Newport Beach (the
"City"), County of Orange, State of California, hereby gives notice that a lien to secure
payment of a special tax is hereby imposed by the City Council of the City. The special tax
secured by this lien is authorized to be levied for the purpose of paying the principal of and
interest on bonds, the proceeds of which are being used to finance the acquisition and
construction of public facilities described on Exhibit A attached hereto and hereby made a
part hereof.
The special tax is authorized to be levied within the City of Newport Beach Special
Improvement District No..95-1 (CIOSA) (the District) which has now been officially
formed and the lien of the special tax is a continuing lien which shall secure each annual
levy of the special tax and which shall continue in force and effect until the special tax
obligation is prepaid, permanently satisfied, and canceled in accordance with law or until
the special tax ceases to be levied and a notice of cessation of special tax is recorded in
accordance with Section 403 of the Code.
The rate, method of apportionment, and manner of collection of the authorized
special tax is as set forth in Exhibit B attached hereto and hereby made a part hereof.
Conditions under which the obligation to pay the special tax may be prepaid and
permanently satisfied and the lien of the special tax canceled are as set forth in Exhibit B
hereto.
Notice is further given that upon the recording of this notice in the office of the
County Recorder of the County of Orange, the obligation to pay the special tax levy shall
become alien upon all nonexempt real property within the District in accordance with
Section 3115.5 of the California Streets and Highways Code.
The name(s) of the owner(s) and the assessor's tax parcel number(s) of the real
property included within the District and not exempt from the special tax are as set forth in
Exhibit C attached hereto and hereby made a part hereof.
Reference is made to the boundary map of the District recorded at Book 68 of Maps of
Assessment and Community Facilities Districts at Pages 26 through 35, in the office of the
County Recorder for the County of Orange, State of California, which map is now the final
boundary map of the District.
For further information concerning the current and estimated future tax liability of
owners or purchasers of real property subject to this special tax lien, interested persons
should contact the Finance Director of the City of Newport Beach, 3300 Newport Boulevard,
Newport Beach, California, 92663, telephone number (714) 644-3311.
Dated: July 3,1995
-2-
By:
Wanda E. Raggio, City 1 k
EXHIBIT A
CITY OF NEWPORT BEACH
SPECIAL IMPROVEMENT DISTRICT NO. 95-1
(CIOSA)
FACILITIES TO BE FINANCED
Facilities
The planned public improvements include the construction of various street
improvements, including access roads, sidewalks, street widening, signal relocations,
median rework and landscaping, and storm drain facilities, including all costs of
engineering, design, planning and coordination incident thereto. The facilities shall be
constructed, whether or not acquired in their completed states, pursuant to plans and
specifications approved by the City of Newport Beach and the applicable officials thereof.
Other
Bond related expenses, including underwriters' discount, appraisals, reserve fund,
capitalized interest, bond counsel, bond and official statement printing and all other
expenses related thereto, and administrative fees of the City and the Bond trustee or fiscal
agent related to the District and the Bonds.
A-1
EXHIBIT B
RATE AND METHOD OF APPORTIONMENT
FOR CITY OF NEWPORT BEACH
SPECIAL EMPROVEMENT DISTRICT NO. 95-1 (CIOSA)
A Special Tax (the "Special Tax") shall be levied and collected in Newport Beach Special
Improvement District No. 95-1 (CIOSA) (the "CIOSA District") each Fiscal Year in an amount
determined by the City Council of the City of Newport Beach, or its designee, as described
below. Commencing in Fiscal Year 1995-96 all of the property within the CIOSA District shall
be subject to the Special Tax for the purposes, to the extent and in the manner herein provided.
A. Definitions
The terms hereinafter set forth have the following meanings:
"Administrative Expenses" means any reasonably necessary or appropriate expenses
incurred by the City in the administration of the CIOSA District.
"Advance Amount" means the amount of the Advance as defined in the CIOSA
Agreement.
"Assessor's Parcel" means a lot or parcel with an assigned Assessor's Parcel number
shown in an Assessor's Parcel Map.
"Assessor's Parcel Map" means an official map of the County Assessor of the County of
Orange designating parcels by Assessor's Parcel numbers.
hereto.
"Bayview Landing" means that portion of the CIOSA District described in Exhibit A
"Block 800" means that portion of the CIOSA District described in Exhibit A hereto.
"Bond Year" means, with respect to each issue of Bonds, the period which commences on
the date on which such Bonds are issued and, subsequent to such issuance, on each September 2,
and ends on the following September 1.
"Bonds" means bonds, notes or other evidences of indebtedness issued by or on behalf of
the CIOSA District pursuant to the Code which are payable from Special Taxes.
"CIOSA Agreement" means the Circulation Improvement and Open Space Agreement
dated June 30, 1993 by and between the City and The Irvine Company as the same may be
amended from time to time.
"CIOSA Agreement Amount" means the sum of (a) the Fair Share Fees Amount, (b) the
Frontage Improvements Amount and (c) the Advance Amount.
"CIOSA District" means Newport Beach Special Improvement District No. 95-1
(CIOSA) as formed by the City pursuant to the Code and as it may be amended from time to
time.
"CIOSA District Improvement Fund" means the fund established and maintained by or
on behalf of the City separate and apart from its other funds and accounts into which money is to
be deposited and from which money is to be expended as provided herein and as may be
provided in an agreement by and between the City and The Irvine Company.
"CIOSA District Improvement Fund Requirement" means, as of any date of calculation,
the CIOSA Agreement Amount as of such date, less the total amount deposited in the CIOSA
District Improvement Fund on or before such date from (a) proceeds from the sale of Bonds,
(b) Special Taxes, (c) the prepayment of Special Taxes, (d) repayments from the City pursuant to
Section 3.7 of the CIOSA Agreement and (e) earnings derived from the investment of the
foregoing.
"City" means the City of Newport Beach.
"City Council" means the City Council of the City of Newport Beach, acting as the
legislative body of the CIOSA District, or its designee.
"City Engineer" means the City Engineer of the City or such other person or firm as may
from time to time be authorized and directed by the City Council to undertake the duties of the
City Engineer hereunder.
"Code" means the City of Newport Beach Special Improvement District Financing Code.
"Corporate Plaza" means that portion of the CIOSA District described in Exhibit A
hereto.
"Corporate Plaza West" means that portion of the CIOSA District described in Exhibit A
hereto.
"Debt Service Requirement" means for each Fiscal Year the sum of (a) one hundred
percent (100%) of the principal of and interest on Bonds coming due in the Bond Year which
ends in the next subsequent Fiscal Year, except to the extent such principal or interest is expected
to be paid from proceeds from the sale of Bonds or other amounts then available in the applicable
debt service fund for such purpose, (b) the product of the amount described in clause (a) times
the larger of (i) the rate of delinquency in the payment of the Special Tax during the Fiscal Year
immediately preceding the Fiscal Year for which the Debt Service Requirement is being
determined or (ii) ten percent (10%), (c) the sum of all deposits then required to be made into
any reserve fund established with respect to any Bonds, and (d) the reasonably estimated
Administrative Expenses for the Bond Year referred to in clause (a).
"Developed Property" means for any Fiscal Year all Taxable Property within a Zone in
which is located an Assessor's Parcel for which a building permit (other than a building permit
for a structure in a model home complex) was issued prior to May 1 of the preceding Fiscal
Year.
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"Fair Share Fees Amount" means the total amount of the Fair Share Fees as defined in the
CIOSA Agreement.
"Fiscal Year" means the period starting July 1 and ending on the following June 30.
"Freeway Reservation" means that portion of the CIOSA District described in Exhibit A
hereto.
"Frontage Improvements Amount" means the total cost of the Frontage Improvements as
defined in the CIOSA Agreement.
"Initial Final Subdivision Map" means for each Zone the first final subdivision map
permitting the sale of lots for single family residential uses within the Zone.
"Maximum Special Tax" means the highest Special Tax, determined in accordance with
Sections C and H, that can be levied by the City Council on an Assessor's Parcel in any Fiscal Year.
"Newport Village" means that portion of the CIOSA District described in Exhibit A hereto.
"Newporter North" means that portion of the CIOSA District described in Exhibit A hereto.
"Parcel Area" means the square footage of an Assessor's Parcel determined by the City
Engineer from the subdivision map or parcel map creating such Assessor's Parcel.
"PCH - MacArthur" means that portion of the CIOSA District described in Exhibit A hereto.
"Property Owner Association Property" means any Assessor's Parcel which is owned by a
property owner association or which the City Engineer determines from the subdivision map or
parcel map creating such Assessor's Parcel is intended to be so owned.
"Proportionately" means, with respect to Developed Property, that the ratio of the actual
Special Tax levy to the Maximum Special Tax is equal for all Assessor's Parcels and, with respect
to Undeveloped Property, means that the ratio of the actual Special Tax levy to the Maximum Special
Tax is equal for all Assessor's Parcels.
"Public Property" means any property within the boundaries of the CIOSA District owned
by or dedicated to the federal government, the State of California, the City or any other public
agency, provided that any leasehold or other possessory interest in such property (which leasehold
or other possessory interest is not owned by a public agency) shall not be considered Public
Property.
"San Diego Creek" means that portion of the CIOSA District described in Exhibit A hereto.
"Share of Zone Area" shall mean:
(1) in the case of an Assessor's Parcel within a Zone which contains no Single Family
Residential Property, the quotient obtained by dividing the Parcel Area of the Assessor's
Parcel by the Zone Area of the Zone; and
1-2
(2) in the case of an Assessor's Parcel within a Zone which contains any Single
Family Residential Property:
(a) prior to the recordation of the Initial Final Subdivision Map, the quotient
obtained by dividing the Parcel Area of the Assessor's Parcel by the Zone Area of
the Zone;
(b) from and after the recordation of the Initial Final Subdivision Map, but
(in the case of any Assessor's Parcel within the Zone not included within the Initial
Final Subdivision Map) prior to the recordation of a Subsequent Final Subdivision
Map:
(i) for each Assessor's Parcel included within the Initial Final
Subdivision Map which is Taxable Property other than Single Family
Residential Property, the quotient obtained by dividing the Parcel Area of the
Assessor's Parcel by the sum of the aggregate Parcel Area of all Assessor's
Parcels included within the Initial Final Subdivision Map which are Taxable
Property plus the aggregate area which the City Engineer estimates (pursuant
to clause (iii) hereof), at the time Initial Final Subdivision Map is recorded,
will be Taxable Property of all Assessor's Parcels not included within the
Initial Final Subdivision Map;
(ii) for each Assessor's Parcel included within the Initial Final
Subdivision Map which is Single Family Residential Property, the product of
a fraction the numerator of which is the aggregate Parcel Area of all
Assessor's Parcels included within the Initial Final Subdivision Map which
are Single Family Residential Property and the denominator of which is the
sum of the aggregate Parcel Area of all Assessor's Parcels included within the
Initial Final Subdivision Map which are Taxable Property plus the aggregate
area which the City Engineer estimates (pursuant to clause (iii) hereof), at the
time Initial Final Subdivision Map is recorded, will be Taxable Property of
all Assessor's Parcels not included within the Initial Final Subdivision Map,
times a fraction the numerator of which is one (1) and the denominator of
which is the number of Assessor's Parcels included within the Initial Final
Subdivision Map which are Single Family Residential Property; and
(iii) for each Assessor's Parcel within the Zone not included within
the Initial Final Subdivision Map, the quotient obtained by dividing the area
of the portion thereof which the City Engineer estimates, at the time the
Initial Final Subdivision Map is recorded, will be Taxable Property upon the
subdivision thereof by the sum of the aggregate Parcel Area of all Assessor's
Parcels included within the Initial Final Subdivision Map which are Taxable
Property plus the aggregate area which the City Engineer estimates, at the
time Initial Final Subdivision Map is recorded, will be Taxable Property of
all Assessor's Parcels within the Zone not included within the Initial Final
Subdivision Map; and
(c) subsequent to the recordation of each Subsequent Final Subdivision Map
(in each case, for Assessor's Parcels within the Zone which had not theretofore been
included within either the Initial Final Subdivision Map or a Subsequent Final
Subdivision Map):
(i) for each Assessor's Parcel included within such Subsequent Final
Subdivision Map which is Taxable Property other than Single Family
Residential Property, the product of a fraction the numerator of which is the
Parcel Area of the Assessor's Parcel and the denominator of which is the
actual total of the area of all the Assessor's Parcels included in such
Subsequent Final Subdivision Map which are Taxable Property, times a
fraction the numerator of which is the area which the City Engineer estimated
would be Taxable Property pursuant to clause (b)(iii) of all the Assessor's
Parcels included in such Subsequent Final Subdivision Map (as a whole, and
not individually) and the denominator of which is the sum of the aggregate
Parcel Area of all Assessor's Parcels described in clauses (b)(i) and (b)(ii)
plus the aggregate area which the City Engineer estimated pursuant to clause
(b)(iii) would be Taxable Property of all Assessor's Parcels within the Zone
which were not included within the Initial Final Subdivision Map;
(ii) for each Assessor's Parcel included within the Subsequent Final
Subdivision Map which is Single Family Residential Property, the product of
a fraction the numerator of which is the total Parcel Area of all Assessor's
Parcels included within the Subsequent Final Subdivision Map which are
Single Family Residential Property and the denominator of which is the actual
total of the area of all the Assessor's Parcels included in such Subsequent
Final Subdivision Map which are Taxable Property, times a fraction the
numerator of which is the area which the City Engineer estimated would be
Taxable Property pursuant to clause (b)(iii) of all the Assessor's Parcels
included in such Subsequent Final Subdivision Map (as a whole, and not
individually) and the denominator of which is the sum of the aggregate Parcel
Area of all Assessor's Parcels described in clauses (b)(i) and (b)(ii) plus the
aggregate area which the City Engineer estimated pursuant to clause (b)(iii)
would be Taxable Property of all Assessor's Parcels within the Zone which
were not included within the Initial Final Subdivision Map, times a fraction
the numerator of which is 1 and the denominator of which is the number of
Assessor's Parcels which are included within such Subsequent Final
Subdivision Map and which are Single Family Residential Property; and
(iii) for each Assessor's Parcel within the Zone which is not included
within such Subsequent Final Subdivision Map, the quotient obtained by
dividing the area of such Assessor's Parcel which the City Engineer estimated
would be Taxable Property pursuant to clause (b)(iii) by the sum of the
aggregate Parcel Area of all Assessor's Parcels described in clauses (b)(i) and
(b)(ii) plus the aggregate area which the City Engineer estimated pursuant to
clause (b)(iii) would be Taxable Property of all Assessor's Parcels within the
Zone which were not included within the Initial Final Subdivision Map.
"Single Family Residential Property" means all Assessor's Parcels which are used, or are
permitted under the City's planning and zoning laws to be used, as the site of one single family
dwelling unit (either detached or attached) or a condominium unit, provided that Single Family
Residential Property shall not include any Assessor's Parcel which is Property Owner Association
Property or Public Property.
"Special Tax" means the Special Tax, if any, to be levied in each Fiscal Year on each
Assessor's Parcel within the CIOSA District.
"Special Tax Reduction" means the product of 0.69 times a fraction the numerator of which
is $14,300,000 minus the Advance Amount and the denominator of which is $14,300,000.
"Subsequent Final Subdivision Map" means for each Zone a final subdivision map permitting
the sale of lots for single family residential uses within the Zone which is recorded subsequent to the
Initial Final Subdivision Map.
"Taxable Property" means all of the Assessor's Parcels within the boundaries of the CIOSA
District which are not exempt from the Special Tax pursuant to law or Section E below.
"Undeveloped Property" means for any Fiscal Year all Taxable Property which is not
classified as Developed Property for such Fiscal Year.
"Upper Castaways" means that portion of the CIOSA District described in Exhibit A hereto.
"Zone" means Bayview Landing, Block 800, Corporate Plaza, Corporate Plaza West,
Freeway Reservation, Newport Village, Newporter North, PCH - MacArthur, San Diego Creek or
Upper Castaways, as the case may be.
"Zone Area" means the sum of the Parcel Area of each Assessor's Parcel of Taxable
Property included in such Zone.
"Zone Prepayment Amount" means the respective amount set forth in the following table
minus the product of such amount times the Special Tax Reduction, if any:
Zone Prepayment Amount
Bayview Landing
$ 95,000
Block 800
1,370,000
Corporate Plaza
1,400,000
Corporate Plaza West
1,925,000
Freeway Reservation
1,585,000
Newport Village
435,000
Newporter North
7,950,000
PCH - MacArthur
2,140,000
San Diego Creek
2,890,000
Upper Castaways
6,960,000
"Zone Special Tax" means, for Fiscal Year 1995-96, the respective amount set forth in the
following table and, for each Fiscal Year subsequent to Fiscal Year 1995-96, one hundred two
percent (102%) of the amount for the preceding Fiscal Year, minus in each case the product of such
amount (as increased in each Fiscal Year) times the Special Tax Reduction, if any.
Zone
Bayview Landing
Block 800
Corporate Plaza
Corporate Plaza West
Freeway Reservation
Newport Village
PCH - MacArthur
Newporter North
San Diego Creek
Upper Castaways
B. Determination as to Type of Property
Special Tax
$ 7,920
116,865
119,910
164,406
135,270
37,304
182,718
678,397
246,600
593,810
For each Fiscal Year, all Taxable Property within the CIOSA District shall be classified as
Developed Property or Undeveloped Property and shall be subject to the Special Tax in accordance
with the rate and method of apportionment determined pursuant to Sections C, D and H below.
C. Maximum Special Tax Rate
The Maximum Special Tax in each Fiscal Year for an Assessor's Parcel of Taxable Property
shall be the product obtained by multiplying the Share of Zone Area for such Assessor's Parcel times
the Zone Special Tax then applicable to the Zone in which such Assessor's Parcel is located.
Notwithstanding the foregoing, the Maximum Special Tax for an Assessor's Parcel shall be reduced
to reflect a prepayment of the Special Tax applicable thereto as provided for in Section H.
D. Method of Apportionment of Special Tax
For each Fiscal Year, commencing with Fiscal Year 1995-96 until the earlier of (i) the date
on which the CIOSA District Improvement Fund Requirement has been reduced to zero and there
are no Bonds outstanding, or (ii) June 30, 2036, the City Council shall levy the Special Tax as
follows:
First: Until the CIOSA District Improvement Fund Requirement has been reduced to zero,
the Special Tax shall be levied on each Assessor's Parcel of Developed Property at a rate equal to
its Maximum Special Tax;
Second: To the extent additional money is needed in order to equal the Debt Service
Requirement prior to the reduction of the CIOSA District Improvement Fund Requirement to zero,
the Special Tax shall be levied Proportionately on all Undeveloped Property in an amount not in
excess of the Maximum Special Tax;
Third: After the CIOSA District Improvement Fund Requirement has been reduced to zero,
the Special Tax shall be levied Proportionately on each Assessor's Parcel of Developed Property such
IM
that the total thereof will equal the Debt Service Requirement, provided, however, that in no event
shall the amount of the Special Tax so levied exceed the Maximum Special Tax; and
Fourth: After the CIOSA District Improvement Fund Requirement has been reduced to zero,
to the extent additional money is needed in order to equal the Debt Service Requirement, the Special
Tax shall be levied Proportionately on all Undeveloped Property, provided, however, that in no event
shall the amount of the Special Tax so levied exceed the Maximum Special Tax.
E. Exemptions
The City Council shall not levy a Special Tax on either (a) Property Owner Association
Property, except the Property Owner Association Property within a Zone which was included in the
estimate of Taxable Property made pursuant to clause (b)(iii) of the definition of "Share of Zone
Area" and which first became Property Owner Association Property subsequent to the date of
recordation of the Initial Final Subdivision Map or (b) Public Property, except the Public Property
within a Zone which was included in the estimate of Taxable Property made pursuant to clause
(b)(iii) of the definition of "Share of Zone Area" and which first became Public Property subsequent
to the date of recordation of the Initial Final Subdivision Map as a result of acquisition through a
negotiated transaction (other than the CIOSA Agreement) or by gift or devise or through eminent
domain proceedings, provided that in the case of such property acquired through eminent domain
proceedings the obligation to pay the Special Tax shall be treated as if it were a special annual
assessment.
F. Appeals
Any landowner or resident who feels that the amount of the Special Tax is in error may file
a notice with the CIOSA District appealing the amount of the Special Tax; provided, however, that
if Bonds are outstanding any appeal must be accompanied by payment in full of the actual Special
Tax levied. A representative of the CIOSA District will then review the appeal and, if necessary,
meet with the applicant. If the findings of the CIOSA District representative verify that the amount
of the Special Tax should be modified or changed, then, as appropriate, the Special Tax levy shall
be corrected, or if the amount has been paid, then it shall be refunded from available Special Taxes
levied and collected in the following Fiscal Year.
G. Manner of Collection
The Special Tax will be collected in the same manner and at the same time as ordinary ad
valorem property taxes, provided, however, the CIOSA District may collect Special Taxes at a
different time or in a different manner if necessary to meet its financial obligations and may covenant
to foreclose on delinquent parcels as permitted by the Code.
H. Prepayment of Special Tax
1. Prior to the initial issuance of Bonds, the Special Tax applicable to any Assessor's
Parcel may be prepaid in whole by paying to the City Treasurer seventy-seven percent (77 %) of the
product obtained by multiplying the Share of Zone Area for such Assessor's Parcel times the Zone
Prepayment Amount applicable to the Zone in which such Assessor's Parcel is located. Prior to the
initial issuance of Bonds, the Special Tax applicable to any Assessor's Parcel may be prepaid in part
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by paying to the City Treasurer a specific dollar amount in lieu of the amount determined pursuant
to the preceding sentence; and from and after the City Treasurer's receipt of such partial prepayment,
the Maximum Special Tax applicable to such Assessor's Parcel shall be the product of the Maximum
Special Tax which would have otherwise been applicable thereto times a fraction the numerator of
which is the specific amount paid in lieu of the amount described in the first sentence of this
paragraph and the denominator of which is the amount described in said sentence.
2. Subsequent to the initial issuance of Bonds, during any Fiscal Year in which the
aggregate amount of the Special Taxes applicable to all Developed Property is sufficient to satisfy
the Debt Service Requirement for such Fiscal Year (determined without any credit for capitalized
interest), the Special Tax applicable to any Assessor's Parcel which is then classified as Undeveloped
Property may be prepaid in whole by paying to the City Treasurer seventy-seven percent (77%) of
the product obtained by multiplying the Share of Zone Area for such Assessor's Parcel times the
Zone Prepayment Amount applicable to the Zone in which such Assessor's Parcel is located. During
any Fiscal Year described in the preceding sentence, the Special Tax applicable to any Assessor's
Parcel may be prepaid in part by paying to the City Treasurer a specific dollar amount in lieu of the
amount determined pursuant to the preceding sentence; and from and after the City Treasurer's
receipt of such partial prepayment, the Maximum Special Tax applicable to such Assessor's Parcel
shall be the product of the Maximum Special Tax which would have otherwise been applicable
thereto times a fraction the numerator of which is the specific amount paid in lieu of the amount
described in the first sentence of this paragraph and the denominator of which is the amount
described in said sentence.
3. Except as otherwise provided in the preceding two paragraphs, the Special Tax
applicable to any Assessor's Parcel may be prepaid in whole by paying to the City Treasurer the sum
of:
(a) The remainder of (i) the product obtained by multiplying the Share of Zone
Area for such Assessor's Parcel times the Zone Prepayment Amount applicable to the Zone
in which such Assessor's Parcel is located minus (ii) the portion of said product which would
have been amortized as principal through the application of the portion of the Special Taxes
attributable to the principal of and interest on Bonds theretofore paid with respect to said
Assessor's Parcel (as determined by the City Treasurer) assuming that said product had
borne interest at an annual rate equal to the highest rate borne by any Bond (or, if no Bond
is then outstanding, nine percent (9%)) and that it had been payable in annual installments
(each of which is two percent (2%) larger than the prior year's installment) over the same
number of years as the Bond with the longest maturity, measured from the date of issuance
of such Bond (or, if no Bond is then outstanding, twenty-five (25) years); and
(b) The amount of any delinquent Special Taxes applicable to said Assessor's
Parcel, together with penalties, interest, and Administrative Expenses incurred as a result of
said delinquencies accrued to the date of prepayment; and
(c) An amount equal to the product of the amount determined pursuant to
paragraph (a) above times the highest redemption premium applicable to any Bond at the next
call date (as defined in paragraph (e) below); and
:•
(d) A reasonable fee, fixed by the City Treasurer, for the cost of administering
the prepayment and, if applicable, the advance redemption of Bonds; and
(e) Interest to the next call date on the amount determined pursuant to paragraph
(a) above, computed at the highest interest rate then applicable to any Bond. For purposes
of this paragraph and paragraph (c) above, the next call date is the next Bond interest
payment date which is not less than 90 days after the date of prepayment.
A credit against the foregoing shall be given, or a refund paid, for the Special Tax applicable to said
Assessor's Parcel posted to the current tax roll and actually paid.
The Special Tax applicable to any Assessor's Parcel may be prepaid in part by paying to the
City Treasurer a portion (in increments of five thousand dollars ($5,000)) of the amount determined
pursuant to paragraph (a) above plus the respective amounts relative thereto described in paragraphs
(b) through (e) above. From and after the City Treasurer's receipt of any such partial prepayment,
the Maximum Special Tax applicable to such Assessor's Parcel shall be the product of the Maximum
Special Tax which would have otherwise been applicable thereto times a fraction the numerator of
which is the specific amount paid in lieu of the amount described in paragraph (a) above and the
denominator of which is the amount described in paragraph (a) above.
EXHIBIT 70 EXHIBIT B
NEWPORT BEACH
CIOSA ASSESSOR PARCELS
Upper Castaways 117-801-12
Bayview Landing 440-132-06
440-132-08
Newporter North 440-132-21
440-132-24
San Diego Creek 442-061-09
442-061-11
442-061-14
Corporate Plaza West 442-011-54
Corporate Plaza 442-271-09
442-271-10
442-271-11
442-271-12
442-271-19
442-271-26
Block 800 442-262-04
Newport Village and PCH -MacArthur 442-014-28
442-272-03
442-272-04
Freeway Reservation 458-142-07
EXHIBIT TO EXHIBIT B
EXHIBIT C
CITY OF NEWPORT BEACH
SPECIAL IMPROVEMENT DISTRICT NO. 95-1
(CIOSA)
PROPERTY OWNER ASSESSOR'S PARCEL NUMBERS
Name of Property Owner
Assessor's Parcel Nos.
The Irvine Company
117-801-12
The Irvine Company
440-132-06
The Irvine Company
440-132-08
The Irvine Company
440-132-21
The Irvine Company
440-132-24
The Irvine Company
442-061-09
The Irvine Company
442-061-11
The Irvine Company
442-061-14
The Irvine Company
442-011-54
The Irvine Company
442-271-09
The Irvine Company
442-271-10
The Irvine Company
442-271-11
The Irvine Company
442-271-12
The Irvine Company
442-271-19
The Irvine Company
442-271-26
The Irvine Company
442-262-04
The Irvine Company
442-014-28
The Irvine Company
442-272-03
The Irvine Company
442-272-04
The Irvine Company
458-142-07
C-1
24005-02 JHHW:GH:bct 5/17/95
.Mt 6/2/915
CITY OF NEWPORT BEACH
SPECIAL IMPROVEMENT DISTRICT NO. 95-1
(CIOSA)
SPECIAL IMPROVEMENT DISTRICT REPORT
CITY OF NEWPORT BEACH
SPECIAL IMPROVEMENT DISTRICT NO. 95-1
(CIOSA)
INTRODUCTION. The City Council of the City of Newport Beach did, pursuant to
the provisions of the City of Newport Beach Special Improvement District Financing Code
(the "Code"), on May 8, 1994, adopt a resolution entitled "A Resolution of the City Council
of the City of Newport Beach Declaring Intention to Establish a Special Improvement
District and to Authorize the Levy of Special Taxes" (the "Resolution of Intention"). In the
Resolution of Intention, the City Council expressly ordered the preparation of a written
Special Improvement District Report (the "Report"), for the proposed City of Newport
Beach Special Improvement District No. 95-1 (CIOSA) (the "District").
The Resolution of Intention ordering the Report did direct that the Report generally
contain the following:
1. A brief description of the facilities by type which will be required to adequately
meet the needs of the District; and
2. An estimate of the fair and reasonable cost of the facilities, including the cost
of acquisition of lands, rights-of-way and easements, any physical facilities required in
conjunction therewith and incidental expenses in connection therewith, including the costs
of the proposed bond financing and all other related costs as provided in Section 702 of the
Code.
For particulars, reference is made to the Resolution of Intention for the District, as
previously adopted by the City Council.
NOW, THEREFORE, I, the Director of Public Works/City Engineer of the City of
Newport Beach, do hereby submit the following data:
A. DESCRIPTION OF FACILITIES. A brief description of the proposed facilities
is as shown in Exhibit "A" attached hereto and hereby made a part hereof.
B. PROPOSED BOUNDARIES OF THE DISTRICT. The proposed boundaries of
the District are those properties and parcels in which special taxes may be levied to pay for
the costs and expenses of the facilities. The proposed boundaries of the District are described
on the map of the District on file with the City Clerk.
-1-
C. COST ESTIMATE. The cost estimate for the facilities for the District is set
forth in Exhibit 'B" attached hereto and hereby made a part hereof.
Dated: June 12,1995
-2-
By:
Don Webb, Director of Public Works/
City Engineer
EXHIBIT A
CITY OF NEWPORT BEACH
SPECIAL IMPROVEMENT DISTRICT NO. 95-1
(CIOSA)
FACILITIES TO BE FINANCED
Facilities
The planned public improvements include the construction of various street
improvements, including access roads, sidewalks, street widening, signal relocations,
median rework and landscaping, and storm drain facilities, including all costs of
engineering, design, planning and coordination incident thereto. The facilities shall be
constructed, whether or not acquired in their completed states, pursuant to plans and
specifications approved by the City of Newport Beach and the applicable officials thereof.
Other
Bond related expenses, including underwriters' discount, appraisals, reserve fund,
capitalized interest, bond counsel, bond and official statement printing and all other
expenses related thereto, and administrative fees of the City and the Bond trustee or fiscal
agent related to the District and the Bonds.
A-1
EXHIBIT B
CITY OF NEWPORT BEACH
SPECIAL IMPROVEMENT DISTRICT NO. 95-1
(CIOSA)
COST ESTIMATE
ACQUISITIONS AND CONSTRUCTION $
INCIDENTALS
(a) Report Preparation and other City
Administrative Costs
(b) Bond Administration and Registration
(c) Bond and Official Statement Printing
(d) Boundary Map Preparation
(e) Special Tax Consultation Fees
(f) Bond Reserve Fund
(g) Bond Discount
(h) Legal Fees
(i) Capitalized Bond Interest
(j) Appraisal
CONTINGENCIES
TOTAL
B -i
$29,000,000
2400.5+-02 JHHW:GH:bct 5/15/C6
:Mt 6/2/%
CITY OF NEWPORT BEACH
SPECIAL IMPROVEMENT DISTRICT NO. 95-1
(CIOSA)
OFFICIAL BALLOT
SPECIAL TAX ELECTION
(JUNE 26,1995)
This ballot is for a special, landowner election. You must return this ballot in the
enclosed postage paid envelope to the office of the City Clerk of the City of Newport Beach
no later than 7:00 p.m. on June 26, 1995, either by mail or in person. The City Clerk's office
is located at 3300 Newport Boulevard, Newport Beach, California, 92663. Alternatively, you
may hand deliver the ballot to the City Clerk in the City Council Chambers, 3300 Newport
Boulevard, Newport Beach, California 92663 no later than 7:00 p.m. on June 26, 1995.
To vote, mark a cross (X) on the voting line after the word "YES" or after the word
"NO". All marks otherwise made are forbidden. All distinguishing marks are forbidden
and make the ballot void.
If you wrongly mark, tear, or deface this ballot, return it to the City Clerk of the City
of Newport Beach and obtain another.
BALLOT MEASURE: Shall the City of Newport Beach
incur an indebtedness and issue bonds in the maximum
aggregate principal amount of $29,000,000, with interest at a
rate or rates not to exceed the maximum interest rate
permitted by law at the time of sale of such bonds on behalf of
the City of Newport Beach Special Improvement District No.
95-1 (CIOSA) (the "District"), the proceeds of which will be
used to finance certain public improvements; shall a special
tax payable solely from lands within the District be levied
annually upon lands within the District to pay for said public
improvements, the principal and interest upon such bonds
and the costs of the City in administering the District, and shall
the annual appropriations limit of the District be established in
the amount of $29,000,000?
Yes: K
20
By execution in the space provided below, you also indicate your waiver of the time
limit pertaining to the conduct of the election and any requirement for analysis and
arguments with respect to the ballot measure, as such waivers are described and permitted
by Sections 316(a) and 317(b) of the City of Newport Beach Special Improvement District
Financing Code.
Number of Votes: 121
Property Owner: The Irvine Company
The Irvine Company, a Michigan
corporation /I X/
By:
Its:
stal Commpjity Builders
By:
Its: Assistant Secretary
T F Irvine Company
Authorized to Publish Advertisements of all kinds L. --ding public notices by
Decree of the Superior Court of orange County, California. Number A•6214,
September 29, 1961, and A-24831 June 11, 1963.
PROOF OF PUBLICATION
STATE OF CALIFORNIA)
) ss.
County of Orange )
I am a Citizen of the United States and a
resident of the County aforesaid; I am over
the age of .eighteen years, and not a party to
or interested in the below entitled matter,
am a principal clerk of the NEWPORT
BEACH -COSTA MESA DAILY PILOT, a
newspaper of general circulation, printed and
published in the City. of Costa Mesa, County
of Orange, State of California, and that
attached Notice is a true and complete copy
as was printed and published on the
following dates:
June 15, 1995
I declare, under penalty of perjury, that the
foregoing is true and correct.
Executed on June 15 1 199 5
at Costa Mesa, California.
t
Z-111
Signat 6 e
��S- cjas'�'
A
PU3LIC NOTICE
RESOLUTION
NO. 95.76
A RESOLUTION OF
THE CITY COUNCIL
OF THE CITY
OF NEWPORT BEACH
CALLING SPECIAL
ELECTION FOR THE
CITY OF
NEWPORT BEACH
SPECIAL
IMPROVEMENT
DISTRICT NO.
95.1 (CIOSA)
WHEREAS, on this date,
the City Council adopted a
resolution entitled "A Reso-
lution of the City Council of
the City of Newport Beach
of Formation of the City of
Newport Beach Special Im-
provement District No. 95-1
(CIOSA), Authorizing thy
Levy of a Special Tax
Within the District and Pre-
Iirninarily Establishing an
Appropriations Limit for the
District" (the "Resolution of
Formation"), ordering the
formation of the City of
Newport Beach Special Im-
provement District No. 95.1
(CIOSA) (the "District"),
authorizing the levy of a
special tax on property
within the District and pre-
liminarify establishing an
j appropriations limit for the
District;
WHEREAS, on this date,
the City Council also
adopted a resolution en-
titled "A Resolution of the
City Council of the City of
Newport Beach Determin-
t ing the Necessity to Incur
Bonded Indebtedness
Within the City of Newport
Beach Special Im-
i provement District No. 95.1
(CIOSA) ' (the "Resolution
to Incur Indebtedness"),
determining the necessity
to incur bonded indebted-
ness in the maximum ag
gregate principal amount of
$29,000,000 upon the secu-
rity of said special tax t0
t be levied within the District
and
! WHEREAS, pursuant to
the provisions of said reso-
lutions, the propositions o
the levy of said special tax
the establishment of the
appropriations limit and the
incurring of the bonded in
debtedness shall be sub
mitted to the qualified elec
tors of the District as re
quired by the City of New
port Beach Special .im
provement District Financ
Ing Code (the "Code").
NOW THEREFORE, BE IT
RESOLVED by the City
Council of the City of New-
port Beach as follows:
Section 1. Pursuant to
Sections 316, 707 anti 315
of the Code, the issues of
the levy of said special tax,
the incurring of bonded in-
debtedness and the estab-
lishment of said appropria-
tions .limit shall be sub-
mitted to the qualified elec-
tors of the District at an
election called therefor as
provided below.
Section 2. As authorized
by Section 709 of the
Code, the three proposi-
tions described in Section
1 hereof shall be combined
into a single ballot mea-
sure, the form of which is
attached hereto as Exhibit
"A and by this reference
incorporated herein. Said
form of ballot is hereby ap-
proved.
Section 3. The City Coun-
cil hereby finds that fewer
than 12 persons have been
registered to vote within
the territory of the District
for each of the 90 days
preceding the close of the
public hearings heretofore
conducted and concluded
by the City Council for the
purposes of these pro-
ceedings. Accordingly, and
pursuant to Section 316 of
the Code, the City Council
finds that for purposes of
these proceedings the
qualified electors are the
landowners within the Dis-
trict and that the vote shall
be by said landowners or
their authorized representa-
tives, each having one vote
for each acre or portion
thereof such landowner
owns in the District as of
the close of said public
hearings.
Section 4. The City Coun-
cil hereby calls a special
election to consider the
measures described in
Section 2 hereof, which
election shall be held in the
City Council Chambers at
7:00 p.m. on June 26,
1995. The City Clerk is
hereby designated as the
official. to conduct said
election. It is hereby ac-
knowledged that the City
I Clerk has on file the Reso-
lution of Formation, a certi-
fied map of the proposed
boundaries of the District
and a sufficient description
to allow the City Clerk tc
determine the boundaries
of the District.
The voted ballots shall be
returned to the City ClerF
iot later than 7:00 p.m. on the provision of Section
June 26, 1995, and when 316 of the Code requiring a
all of the qualified voters minimum of 90 days fol-
iaoted the election lowing the adoption of the
ah,closed.. Resolution of Formation to
Seouon - 5. Pursuant to 'elapse before said special
Section 317 of the Code, election is for the protec-
he election shall be con- tion of the qualified elector
Jucted by mail or hand- of the District. There iso on
Jelivered ballot pursuant to file with the City Clerk a
Section 1340 of the Califor- written petition executed by
nia Elections Code. The the qualified elector of the
City Council hereby finds District requesting a short -
that paragraphs (a),(b),(c) ening of -the time for said
(1) and (c)(3) of said Sec- special election to expedite
tion 1340 are applicable to the process of formation of
this special election. the District and waiving any
Section 6. The City Clerk requirement for analysis
shall cause to be delivered and arguments in connec-
lo each of the qualified tion with the election. Ac -
electors of the District a cordingly, the City Council
ballot in the form set forth finds and determines that!
in Exhibit "A" hereto. Each said qualified elector has
ballot indicates the number been fully apprised of and
of votes to be voted by the has agreed to the short
respective landowner to ened time for the election.
which it pertains. and waiver of analysis and
Each ballot shall be ac- arguments, and has
companied by all supplies thereby been fully pro -
and written instructions tected in these pro -1
necessary for the use and ceedings. The City Councili
return of the ballot. The en- also finds and determinesi
velope to be used to return that the City Clerk has con
the ballot shall be enclosed curred in the shortened
with the ballot, shall have time for the election.
the return postage prepaid, Section 9. The City Clerk
and shall contain the fol- is hereby directed to pub -
lowing: (a) the name and lish in a.newspaper of gen-
address of the landowner, eral circulation circulating
(b) a declaration, under within the District a copy of
penalty of perjury, stating this Resolution as soon as
that the voter is the owner practicable after the date of
of record or the authorized adoption of this Resolution.
representative of the land- Section 10. This Reso-
owner.entitled to vote and lution shall take effect Im-
is the person whose name mediately upon its adop-
appears on the envelope, tion.
(c) the printed name, sig- A P P R O V E D a n d
nature and address of the ADOPTED by the City,
voter, (d) the date of sign- Council of the City of New-
ing and place of execution port Beach on June 12,
of the declaration pursuant 1995.
to clause (b) above; and /s/ John W. Hedges
(e) a notice that the en- John W. Hedges, Mayor
velope contains an official ATTEST:
ballot and is to be opened
only by the canvassing /s/ Wanda E. Ragglo
board., Wanda E. Ragglo, City
Analysis and arguments Clerk
with respect to the ballot Published Newport
measures are hereby Beach -Costa Mesa Daily
waived, as provided in Sec- Pitot June 15, 1995.
tion 317 of the Code. th875
Section 7. The
shall accept the ballots of
the qualified electors in her
office or in the City Council
Chambers to and including
7:00 p.m. on June 26,
1995, whether said ballots
be personally delivered or
received by mail.' The City
Clerk shall have available
ballots, which may. be
marked at said location on
the election day by said
qualified electors.
Section 8. The City Coun-
cil hereby further finds that
24005-02 JHHW:GH:bct 5/16/95
NOTICE OF PUBLIC HEARING
CITY OF NEWPORT BEACH
SPECIAL IMPROVEMENT DISTRICT NO. 95-1
(CIOSA)
Notice is hereby given that on May 8, 1995, the City Council of the City of Newport
Beach adopted a Resolution entitled "A Resolution of the City Council of the City of Newport
Beach Declaring Intention to Incur Bonded Indebtedness of the Proposed City of Newport
Beach Special Improvement District No. 95-1 (CIOSA)". Pursuant to Section 703 of the City of
Newport Beach Special Improvement District Financing Code (the "Code"), the City Council
hereby gives notice as follows:
A. The text of said Resolution is as follows:
WHEREAS, the City Council (the "City Council") of the City of Newport
Beach (the "City") has this date adopted its Resolution entitled "A Resolution of
the City Council of the City of Newport Beach Declaring Intention to Establish a
Special Improvement District and to Authorize the Levy of Special Taxes",
stating its intention to form a special improvement district pursuant to the City
of Newport Beach Special Improvement District Financing Code (the "Code"), for
the purpose of financing certain public improvements (the "Facilities"), as further
provided in said Resolution;
WHEREAS, the City Council estimates the amount required for the
financing of the Facilities to be not more than $29,000,000; and
WHEREAS, in order to finance said Facilities it is necessary to incur
bonded indebtedness in the amount of up to $29,000,000;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City
of Newport Beach as follows:
Section 1. It is necessary to incur bonded indebtedness within the
boundaries of the proposed City of Newport Beach Special Improvement District
No. 95-1 (CIOSA) (the "District") in the amount of up to $29,000,000 to finance
the costs of the Facilities.
Section 2. The bonded indebtedness is proposed to be incurred for the
purpose of financing the costs of the Facilities, including construction costs and
all costs incidental to or connected with the accomplishment of said purposes
and of the financing thereof, as permitted by Section 702 of the Code.
Section 3. The City Council, acting as legislative body for the District,
intends to authorize the issuance and sale of bonds in the maximum aggregate
principal amount of not to exceed $29,000,000, bearing interest payable semi-
annually or in such other manner as the City Council shall determine, at a rate
not to exceed the maximum rate of interest as may be authorized by applicable
law at the time of sale of such bonds, and maturing not to exceed 40 years from
the date of the issuance of said bonds.
Section 4. Monday, June 12, 1995, at 7:00 p.m., in the regular meeting
place of the City Council, Council Chambers, City Hall, 3300 Newport
Boulevard, Newport Beach, California, be, and the same are hereby appointed
and fixed as the time and place when and where the City Council, as legislative
body for the District, will conduct a public hearing on the proposed debt issue
and consider and finally determine whether the public interest, convenience and
necessity require the issuance of bonds of the City for the District.
Section 5. The City Clerk is hereby directed to cause notice of said public
hearing to be given by publication one time in a newspaper of general circulation
circulated within the District. The publication of said notice shall be completed
at least seven days before the date herein set for said public hearing. Said notice
shall contain the information prescribed by Section 7.03 of the Code.
Section 6. The officers and employees of the City are hereby authorized
and directed to take all actions and do all things which they, or any of them,
may deem necessary or desirable to accomplish the purposes of this Resolution
and not inconsistent with the provisions hereof.
Section 7. This Resolution shall take effect immediately upon its
adoption.
B. The hearing referred to in the aforesaid Resolution shall be at the time and place
specified in said Resolution.
C. At that time and place the testimony of all interested persons, including persons
owning property in the area of the proposed District, will be heard.
Dated: 6--77-K 1995
2
/s/ Wanda E. Raggio
City Clerk, City of Newport Beach
24005-02 JHHW:GH:bct 5/16/95
NOTICE OF PUBLIC HEARING
CITY OF NEWPORT BEACH
SPECIAL IMPROVEMENT DISTRICT NO. 95-1
(CIOSA)
Notice is hereby given that on May 8, 1995, the City Council of the City of Newport
Beach adopted a Resolution entitled "A Resolution of the City Council of the City of Newport
Beach Declaring Intention to Establish a Special Improvement District and to Authorize the
Levy of Special Taxes". Pursuant to the City of Newport Beach Special Improvement District
Financing Code, the City Council of the City of Newport Beach hereby gives notice as follows:
A. The text of said Resolution of Intention is as follows:
WHEREAS, the City Clerk of the City of Newport Beach (the "City") has
received a written petition (the "Petition") from the owners of not less than 10%
of the area of land proposed to be included within a special improvement
district (the "District"), the proceedings for the formation of which District are as
hereafter provided;
WHEREAS, under the City of Newport Beach Special Improvement
District Financing Code (the "Code"), the City Council of the City (the "City
Council") is the legislative body for the proposed District and is empowered with
the authority to establish the District; and
WHEREAS, on the date hereof the City Council adopted a Resolution
acknowledging receipt of the Petition and now desires to proceed with the
establishment of the District as contemplated by said Resolution;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City
of Newport Beach as follows:
Section 1. The City Council proposes to conduct proceedings to establish
a special improvement district pursuant to the Code.
Section 2. The name proposed for the District is "City of Newport Beach
Special Improvement District No. 95-1 (CIOSA)".
Section 3. The proposed boundaries of the District are as shown on the
map of the District on file with the City Clerk, which boundaries are hereby
preliminarily approved and to which map reference is hereby made for further
particulars. The City Clerk is hereby directed to record, or cause to be recorded,
said map of the boundaries of the District in the office of the County Recorder
within fifteen days of the date of adoption of this Resolution.
Section 4. The public facilities proposed to be financed by the District
and pursuant to the Code shall consist of those items listed as facilities on
Exhibit A hereto and by this reference incorporated herein (the "Facilities"). The
City Council hereby finds and determines that the public interest will not be
served by allowing the property owners in the District to enter into a contract in
accordance with Section 323 of the Code; however the City may enter into one or
more contracts directly with any of the property owners with respect to the
construction and/or operation of the Facilities.
Section 5. Except to the extent that funds are otherwise available to the
District to pay for the Facilities and/or the principal and interest as it becomes
due on bonds of the District issued to finance the Facilities, a special tax
sufficient to pay the costs thereof, secured by recordation of a continuing lien
against all non-exempt real property in the District, will be levied annually
within the District, and collected in the same manner as ordinary ad valorem
property taxes or in such other manner as the City Council or its designee shall
determine, including direct billing of the affected property owners. The proposed
rate and method of apportionment of the special tax among the parcels of real
property within the District, in sufficient detail to allow each landowner within
the proposed District to estimate the maximum amount such owner will have to
pay, are described in Exhibit B attached hereto and by this reference
incorporated herein. The conditions under which the obligation to pay the
specified special tax may be prepaid and permanently satisfied are specified in
Exhibit B hereto.
In the case of any special tax to pay for the Facilities and to be levied
against any parcel used for private residential purposes, (i) the maximum special
tax shall be specified as a dollar amount which shall be calculated and thereby
established not later than the date on which the parcel is first subject to the tax
because of its use for private residential purposes, which amount shall not be
increased over time except that it may be increased by an amount not to exceed
2% per year, (ii) the tax year after which no further special tax subject to this
sentence shall be levied or collected shall be as set forth in Exhibit B hereto, and
(iii) under no circumstances will the special tax levied against any parcel subject
to this sentence be increased as a consequence of delinquency or default by the
owner of any other parcel or parcels within the district by more than 10%. For
purposes of this paragraph, a parcel shall be considered "used for private
residential purposes" not later than the date on which an occupancy permit for
private residential use is issued.
Section 6. It is the intention of the City Council acting as the legislative
body for the District to cause bonds of the City to be issued for the District
pursuant to the Code to finance in whole or in part the construction of the
Facilities. Said bonds shall be in the aggregate principal amount of not to exceed
$29,000,000, shall bear interest payable semi-annually or in such other manner as
the City Council shall determine, at a rate not to exceed the maximum rate of
interest as may be authorized by applicable law at the time of sale of such
bonds, and shall mature not to exceed 40 years from the date of the issuance
thereof.
Section 7. The levy of said proposed special tax shall be subject to the
approval of the qualified electors of the District at a special election. The
proposed voting procedure shall be by mailed or hand -delivered ballot among
the landowners in said proposed District, with each owner having one vote for
each acre or portion of an acre such owner owns in the District.
Section 8. The Director of Public Works/City Engineer of the City, as the
officer having charge and control of the Facilities in and for the District, is hereby
directed to study said proposed Facilities and to make, or cause to be made, and
file with the City Clerk a report in writing, presenting the following:
(a) A brief description of the Facilities by type which will be required to
adequately meet the needs of the District.
(b) An estimate of the fair and reasonable cost of the Facilities, including
the cost of acquisition of lands, rights-of-way and easements, any physical
facilities required in conjunction therewith and incidental expenses in connection
therewith, including the costs of the proposed bond financing and all other
related costs as provided in Section 702 of the Code.
Said report shall be made a part of the record of the public hearing
provided for below.
Section 9. Monday, June 12, 1995, at 7:00 p.m., in the regular meeting
place of the City Council, Council Chambers, City Hall, 3300 Newport
Boulevard, Newport Beach, California, be, and the same are hereby appointed
and fixed as the time and place when and where the City Council, as legislative
body for the District, will conduct a public hearing on the establishment of the
District and consider and finally determine whether the public interest,
convenience and necessity require the formation of the District and the levy of
said special tax.
Section 10. The City Clerk is hereby directed to cause notice of said
public hearing to be given by publication one time in a newspaper published in
the area of the District. The publication of said notice shall be completed at
least seven days before the date herein set for said hearing. Said notice shall
contain the information prescribed by Section 3.07 of the Code.
Section 11. The officers and employees of the City are hereby authorized
and directed to take all actions and do all things which they, or any of them,
may deem necessary or desirable to accomplish the purposes of this Resolution
and not inconsistent with the provisions hereof.
Section 12. This Resolution shall take effect immediately upon its
adoption.
B. The exhibits to the Resolution which describe the facilities to be financed and the rate
and method of apportionment of the special taxes for the district are on file in the office of the
City Clerk.
C. The time and place established under said Resolution for the public hearing required
under the Code are Monday, June 12, 1995, at 7:00 p.m., in the regular meeting place of the City
Council of the City of Newport Beach, Council Chambers, City Hall, 3300 Newport Boulevard,
Newport Beach, California.
D. At said hearing, the testimony of all interested persons or taxpayers for or against
the establishment of the District, the extent of the District or the furnishing of the specified
types of public facilities will be heard. Any person interested may file a protest in writing as
provided in Section 309 of the Code. If fifty percent or more of the registered voters, or six
registered voters, whichever is more, residing in the territory proposed to be included in the
District, or the owners of one-half or more of the area of land in the territory proposed to be
included in the District and not exempt from the special tax, file written protests against the
establishment of the District, and the protests are not withdrawn so as to reduce the value of
3
the protests to less than a majority, the City Council shall take no further action to create the
District or levy the special taxes for period of one year from the date of the decision of the City
Council, and if the majority protests of the registered voters or of the landowners are only
against the furnishing of a type or types of facilities within the District, or against levying a
specified special tax, those types of facilities or the specified special tax will be eliminated from
the proceedings to form the District.
E. The proposed voting procedure shall be by special mail or hand -delivered ballot to
the property owners within the territory proposed to be included in the District.
Dated: E/1- 'r 1995
4
/s/ Wanda E. Raggio
City Clerk, City of Newport Beach
Authorized to Publish Advertisements of all kir.. Including public notices by
Decree of the Superior Court of Orange County, California. Number A-6214,
September 29, 1961, and A-24831 June 11, 1963.
PROOF OF PUBLICATION
STATE OF CALIFORNIA)
) SS.
County of Orange
I am a Citizen of the United States and a
resident of the County aforesaid; I am over
the age of .eighteen years, and not a party to
or interested in the below entitled matter.
am a principal clerk of the NEWPORT
BEACH -COSTA MESA DAILY PILOT, a
newspaper of general circulation, printed and
published in the City -of Costa Mesa, County
of Orange, State of California, and that
attached Notice is a true and complete copy
as was printed and published on the
following dates;
May 22, 1995
I declare, under penalty of perjury, that the
foregoing is true and correct.
Executed on May 22 199
at Costa Mesa, California.
Signature
�7 S9
PUBLIC NOTICE
j NOTICE OF "
y PUBLIC HEAR
CITY OF
f NEWPORT BEACH
> SPECIAL
IMPROVEMENT
DISTRICT NO.95.1
(CIOSA)
Notice is hereby giver
that on May 8, 1995, thr
City Council of the City o
Newport Beach adopted :
Resolution entitled "A Res
olution of the City Counci
of the City of Newpor
Beach Declaring Intention'
to Incur Bonded Indebted
ness of the Proposed Cit
of Newport Beach Specia
Improvement Distric
No.95-1 (CIOSA)". Pursu
ant to Section 703 of the
City of Newport Beach
Special Improvement Dis
trict Financing Code (the
"Code"), the City Counci
hereby gives notice as fol-
lows:
A. The text of said Res-
olution is as follows:
WHEREAS, the City Coun-
cil (the "City Council") of
the City of Newport Beach
(the ' City") has this date
adopted its Resolution en-
titled "A Resolution of the
City Council of the City of
Newport Beach Declaring
Intention to Establish a
Special Improvement Dis-
trict and to Authorize the
Levy of Special Taxes",
stating its intention to form
a special improvement dis-
trict pursuant to the City of
Newport Beach Special Im.
provement District Financ-
ing Code (the 'Code"), for
the purpose of financing
certain public im-
provements (the "Facili-
ties") as further, providec
in said Resolution;
WHEREAS, the City Coun•
cil estimates the amount
required for the financincot
of the Facilities to be n
more than $29,000,000;
and
WHEREAS, in order to fi•
nance said Facilities it is
necessary to incur bonded
indebtedness in the
amount of up to
$29,000,000;
NOW, THEREFORE, BE IT
RESOLVED by the City
Council of the City of New-
port Beach as follows:
Section 1, It is necessary
to incur bonded indebted-
ness within the boundaries
of the proposed City of
Newport Beach Special im.
provement District No.95-1
(CIOSA) (the "District") in
the amount of up to
$29,000,000 to finance the
costs of the Facilities.
Section 2. The bonded in-
debtedness is proposed to
be incurred for the purpose
of financing the costs of
the Facilities, including
construction costs and all
costs incidental to or con-
nected with the ac-
complishment of said pur.
poses and of the financing'
thereof, as permitted by
Section 702 of the Code.
Section 3. The City Coun-
cil, acting as legislative
body for the District, in.
tends to authorize the issu-
ance and sale of bonds in
the maximum aggregate
principal amount of not to
exceed $29,000,000, bear-
ing Interest payable semi-
annually or in such other
manner as the City Council
Yshall determine, at a rate
not to exceed the maxi•
t mum rate of interest as
may be authorized by ap-
plicable law at the time o1
sale of such bonds, and
maturing not to exceed 40
years from the date of the
issuance of said bonds.
Section 4. Monday, June
12, 1995, at 7:00 p.m., in
the regular meeting place
of the City Council, Council
Chambers, City Hall, 3300
Newport Boulevard, New.
port Beach, California, be,
and the same are hereby
appointed and fixed as the
time and place when and
where the City Council, as
legislative body for the Dis-
trict, will conduct a public
hearing on the proposed
debt issue and consider
and finally determine
whether the public interest,
convenience and necessity
require the issuance of
bonds of the City for the
District.
Section 5. The City Clerk'
is hereby directed to cause
notice of said public hear-
ing to be given by publica-
tion one time in a newspa-
per of general .circulation
circulated within the Dis-
trict. The publication of
said notice shall be com-
pleted at least seven days
before the date herein set
for said public hearing.
Said notice shall contain
the information prescribed
by Section 7.03 of the
Code.
Section 6. The officers
and employees of the City
are hereby authorized and
directed to take all actions
and do all things which
they, or any of them, may
deem necessary or desir-
able to accomplish the pur-
poses of this Resolution
and not inconsistent with
the provisions hereof.
Section 7. This Resolution
'shall take effect im-
I mediately upon its adop-
tion.
B. The hearing referred to
in the aforesaid Resolution
shall be at the time and
place specified in said Res-
olution.
C. At that time and place
the testimony of all Inter-
ested persons, including
persons owning property in,
the area of the proposed
District, will be heard.
Dated: 5.17.95
/s/ W:Snda.E. Ragglo
City Clerk, City of
Newport Beach
Published Newport
Beach -Costa Mesa Daily
Pilot May 22, 1995.
_____M840.,3
Authorized to Publish Advertisements of all kir... Including public notices by
Dccrec of the Superior Court of Orange County, Califo(nia. Number A•6214,
September 29, 1961, and A•24831 June 11, 1963.
PROOF OF PUBLICATION
STATE OF CALIFORNIA)
) ss.
County of Orange )
I am a Citizen of the United States and a
resident of the County aforesaid; I am over
the age of .eighteen years, and not a party to
or interested in the below entitled matter. I
am a principal clerk of the NEWPORT
BEACH -COSTA MESA DAILY PILOT, a
newspaper of general circulation, printed and
published in the City, of Costa Mesa, County
of Orange, State of California, and that
attached Notice is a true and complete copy
as was printed and published on the
following dates;
May 22, 1995
I declare, under penalty of perjury, that the
foregoing is true and correct.
Executed on May 22 199-5
at Costa Mesa, California.
Signature
a)•°Nm'C m0«NCON ,Q.-
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0. Z O ZIC6 o) 0.2 w °� °=°�UZo)¢oo>'omUZ_0-a3 a:
�<UZrt o om ° n¢'uUm
Authorized to Publish Advertisements of all kine, Including public notices by
Decree of the Superior Court of Orange County, California. Number A-6214,
September 19, 1961, and A-24831 June 11, 1963.
PROOF OF PUBLICATION
STATE OF CALIFORNIA)
) ss.
County of Orange )
I am a Citizen of the United States and a
resident of the County aforesaid; I am over
the age of .eighteen years, and not a party to
or interested in the below entitled matter. I
am a principal clerk of the NEWPORT
BEACH -COSTA MESA DAILY PILOT, a
newspaper of general circulation, printed and
published in the City of Costa Mesa, County
of Orange, State of California, and that
attached Notice is a true and complete copy
as was printed and published on the
following dates:
May 22, 1995
I declare, under penalty of perjury, that the
foregoing is true and correct.
Executed on May 22 199 _5____,
at Costa Mesa, California.
Signature
PUBLIC NOTI
NOTICE OF
PUBLIC HEARING
CITY OF
NEWPORT BEACH
SPECIAL
IMPROVEMENT
DISTRICT NO.95.1
Notice is hereby given
that on May 8, 1995, the
City Council of the City of
Newport Beach adopted a
Resolution entitled "A Res.
olution of the City Council
of the City of Newport
Beach Declaring Intention
to Incur Bonded Indebted.
ness of the Proposed City
of Newport Beach Special
Improvement District
No.95-1 (CIOSA)". Pursu-
ant to Section 703 of the
City of Newport Beach
Special Improvement Dis-
trict Financing Code (the
"Code"), the City Council
hereby gives notice as fol-
lows:
A. The text of said Res.
olution is as follows:
WHEREAS, the City Coun.
cil (the "City Council") of
the City of Newport Beach.
(the 'City") has this date
adopted its Resolution en.
titled "A Resolution of the
City Council of the City of.
Newport Beach Declaring
Intention to Establish a
Special Improvement Dis.
trict and to Authorize the
Levy of Special Taxes",
stating its intention to form
a special improvement dis.
trict pursuant to the City of
Newport Beach Special Im-f
provement District Financ.
ing Code (the "Code"), for
the purpose of financing)
certain public im-',
provements (the "Facili-I
ties"), as further provided
in said Resolution;
WHEREAS, the City Coun-
cil estimates the amount
required for the financing
of the Facilities to be not
more than $29,000,000;
and
WHEREAS, in order to fi-
nance said Facilities it is
necessary to incur bonded
indebtedness in the
amount of up to
$29,000,000;
NOW, THEREFORE, BE IT
RESOLVED by the City
Council of the City of New-
port Beach as follows:
Section 1. It is necessary
to incur bonded indebted- I
ness within the boundaries
of the proposed City of
Newport Beach Special Im.
provement District No.95.1
(CIOSA) (the "District") in
the amount of up to
$29,000,000 to finance the
costs of the Facilities.
Section 2. The bonded in-
debtedness is proposed to
be incurred for the purpose
of financing the costs of
the Facilities, including
construction costs and all
costs incidental to or con.
nected with the ac-
complishment of said pur-
poses and of the financing
thereof, as permitted by
Section 702 of the Code.
Section 3. The City Coun.
cil, acting as legislative,
body for the District, in-
tends to authorize the issu t
ance and sale of bonds in
the maximum aggregate
principal amount of not to
exceed $29,000,000, bear-
ing interest Pavable semi-
annually or in -such othei
manner as the City Counci.
shall determine, at a rate
not to exceed the maxi•
mum rate of interest as
may be authorized by ap.
plicable law at the time of
sale of such bonds, and
maturing not to exceed 40
years from the date of the
issuance of said bonds.
Section 4. Monday, June
12, 1995, at 7:00 p.m., in
the regular meeting place
of the City Council, Council
Chambers, City Hall, 3300
Newport Boulevard, New-
port Beach, California, be,
and the same are hereby
appointed and fixed as the
time and place when and
where the City Council, as
legislative body for the Dis-
trict, will conduct a public
hearing on the proposed
debt issue and consider
and finally determine
whether the public interest,
convenience and necessity
require the issuance of
bonds of the City for the
District.
Section 5. The City Clerk
is hereby directed to cause
notice of said public hear-
ing to be given by publica-
tion one time in a newspa-
per of general circulation
circulated within the Dis-
trict. The publication of
said notice shall be com-
pleted at least seven days
before the date herein set
for said public hearing.
Said notice shall contain
the information prescribed
by Section 7.03 of the
Code.
Section 6. The officers
and employees of the City
are hereby authorized and
directed to take all actions
and do all things which
they, or any of them, may
deem necessary or desir-
able to accomplish the pur-
poses of this Resolution
and not inconsistent with
the provisions hereof.
Section 7. This Resolution
shall take effect im-
mediately upon its adop-
tion.
B. The hearing referred to
in the aforesaid Resolution
shall be at the time and
place specified in said Res-
olution.
C. At that time and place
the testimony of all inter-
ested persons, including
P
ersons owning property in
he area of the proposed
District, will be heard.
Dated: 5.17.95
/s/ Wanda E. Ragglo
City Clerk, City of
Newport Beach
Published Newport
3each-Costa Mesa Daily
'ilot May 22, 1995.
m840
Authorized to Publish Advertisements of all kine. including public notices by
Ocoee of the Superior Court of Orange County, California. Number A•6214,
Septcmber 19, 1961, and A•24831 June 11, 1961,
PROOF OF PUBLICATION
STATE Of CALIFORNIA)
) ss,
County of Orange )
I am a Citizen of the United States and a
resident of the County aforesaid; I am over
the age of .eighteen years, and not a party to
or interested in the below entitled matter.
am a principal clerk of the NEWPORT
BEACH -COSTA MESA DAILY PILOT, a
newspaper of general circulation, printed and
published in the City.of Costa Mesa, County
of Orange, State of California, and that
attached Notice is a true and complete copy
as was printed and published on the
following dates:
May 22, 1995
I declare, under penalty of perjury, that the
foregoing is true and correct.
Executed on May 22 199-5
at Costa Mesa, California.
_zx
Signature
CHARLES F. ADAMS
STEVEN R. CASALEGGIO
MICHAEL D. CASTELLI
THOMAS A. DOWNEY
ANDREW C. HALL, Jit.
GREG HARRINGTON
CHRISTOPHER H. LYNCH
WILLIAM H. MADLSON
DAVID.I. OS CER
BRIAN D. QUINT
PAULJ. THIMJ-1IG
DAVID A. WALTON
SHARON Sr ANTON W=E
,-JONES HALL HILL & WHITE,
A PROFESSIONAL LAW CORPORATION
ATTORNEYS AT LAW
June 2, 1995
VIA FEDERAL EXPRESS r
To: Distribution
FOUR EMBARCADERO CENTER
NINETEENTH FLOOR
SAN FRANCISCO, CA 94111
(415) 391-5780
FACSIMILE.
(415) 391-5784
E-MAIL: gharrington@jhhw.com
KENNETH L JONES
OF COUNSEL
ROBERT J. HILL (1922-1988)
Re: City of Newport Beach Special Improvement District No. 95-1
(CIOSA) Special Tax Bonds
Ladies and Gentlemen:
As most of you know, the election for the City of Newport Beach Special
Improvement District No. 95-1 (CIOSA) (the "District"), which was originally scheduled for
June 12, 1995, has been rescheduled for June 26, 1995. Therefore, the proceedings to be
undertaken on June 12, 1995 will include only those matters up to and including the calling
of the special election.
For the City Council meeting of June 12, 1995, enclosed please find the following:
1. Order of Proceedings for Hearings. The Order sets forth the agenda to be
followed to conduct the hearings and for the adoption of the items needed to complete the
formation of the District and to call the election.
.2. Special Improvement District Report. The Report describes the facilities to be
provided by the District. The Director of Public Works/City Engineer was directed to
prepare the Report by the first Resolution of Intention adopted for the District on May 8,
1995. Exhibit B to the Report is required to set forth the estimated costs of the various
facilities and the costs to issue the bonds and to administer the District. I will work with
Dennis Danner, John Gibson and Dan Tonini to complete Exhibit B prior to the City
Council meeting. One copy of the completed Report must be signed by the Director of Public
Works/City Engineer and filed with the City Clerk by June 12, 1995.
To: Distribution
June 2, 1995
Page 2
3. Resolution of Formation. This Resolution officially forms the District,
authorizes the special taxes to be collected and calls for the required landowner vote on the
levy taxes and the establishment of an appropriations limit for the District. The exhibits to
this Resolution describe the facilities to be financed and the formula by which the special
taxes will be levied in the District. I am hereby requesting John Murphy to provide to the
City Clerk a conformed copy of the Rate and Method of Apportionment for insertion as
Exhibit A to the Resolution.
4. Resoluiion Determining Necessity to Incur Bonded Indebtedness. This
Resolution makes the determination to issue bonds to be paid from the special taxes levied
within the District. The Resolution also calls for the required landowner vote on the
issuance of bonds.
5. Resolution Calling Special Election. This Resolution sets the election for
June 26, 1995 and provides the form of the special ballot to be used by the landowner voter.
6. Official Ballot and Envelope. This is the ballot material to be used by the
landowner voter to vote in the election. By its copy hereof, The Irvine Company is
requested to use the Ballot and Envelope to vote at the June 26, 1995 election.
I have included in Bob Burnham's package a floppy disk containing copies of the
above items.
If you have any questions or comments, please do not hesitate to call.
Very truly yours,
2400502 JHHW:GH:bct
City of Newport Beach
Special Improvement District No. 95-1 (CIOSA)
Special Tax Bonds
Distribution List
ISSUER
-Kevin Murphy, City Manager
-Robert Burnham, Esq., City Attorney
-Dennis Danner, Finance Director
-Don Webb, Director of Public
Works/City Engineer
CITY OF NEWPORT BEACH
3300 Newport Boulevard
Newport Beach, California 92663
(714) 644-3309 (Murphy/Danner)
(714) 644-3131 (Burnham)
(714) 6443311 (Webb)
(714) 6443020 (Murphy/Danner-Fax)
(714) 644-3139 (Burnham -Fax)
(714) 644-3318 (Webb -Fax)
DEVELOPER
-Dan Tonini
-Norman E. Witt
THE IRVINE COMPANY
550 Newport Center Drive
Newport Beach, California 92660-9959
(714) 720-2884 (Tonin)
(714) 720-2129 (Witt)
(714) 720-9453 (Tonin Fax)
(714) 720-2111 (Witt Fax)
DEVELOPER'S COUNSEL
-John Murphy, Esq.
STRADLING, YOCCA, CARLSON &
RAUTH
660 Newport Center Drive, Suite 1600
Newport Beach, California 92660
(714) 640-7035
(714) 725-4100 (Fax)
LAX CONSULTANT
-Peter Placey
GOVERNMENT FINANCE GROUP
3200 Bristol Street, Suite 500
Costa Mesa, California 92626
(714)540-3200
(714) 540-3232 (Fax)
6/2/95
BOND COUNSEL
-Greg Harrington, Esq.
-Sharon Stanton White, Esq. (Tax Matters)
JONES HALL HILL & WHITE,
A Professional Law Corporation
4 Embarcadero Center, 19th Floor
San Francisco, California 94111
(415) 391-5780
(415) 391-5784 (Fax)
UNDERWRITER
-John H. Gibson
STONE & YOUNGBERG
4350 La Jolla Village Drive, Suite 840
San Diego, California 92122
(619) 452-0556
(619)452-6131 (Fax)
UNDERWRITER'S COUNSEL
-Samuel Sperry, Esq.
ORRICK, HERRINGTON & SUTCLIFFE
400 Sansome Street
San Francisco, California 94111
(415) 773-5467
(415) 773-4246 (Fax)
JoNE S HALL HILL & WHITE,
A PROFESSIONAL LAW CORPORATION
CHARLES F. ADAMS
STEPHEN R. CASALEGGIO
MICHAEL D. GASTELLI
THOMAS A. DOWNEY
ANDREW C. HALL, JR.
GREG HARRINGTON
CHRISTOPHER K. LYNCH
WILLIAM H. MADISON
DAVID J. OSTER
BRIAN D. QUINT
PAUL J. THIMMIG
DAVID A. WALTON
SHARON STANTON WHITE
Wanda E. Raggio, City Clerk
City of Newport Beach
3300 Newport Boulevard
Newport Beach, California 92663
ATTORNEYS AT LAW
May 16, 1995
FOUR EMBARCADERO CENTER
NINETEENTH FLOOR
SAN FRANCISCO, CA 94111
(415) 391-5780
FACSIMILE
(415) 391-5784
KENNETH I. JONES
OF COUNSEL
ROBERT J. HILL (1922-1988)
Re: City of Newport Beach Special Improvement District No. 95-1 (CIOSA)
Instructions re Recording and Publication
Dear Ms. Raggio:
On May 8, 1995, the City Council adopted two resolutions of intention for the above
district. Those resolutions required that certain actions be done by the City Clerk. To comply
with those requirements, I enclose:
1. Notice of Public Hearing (Re Establishment of Special Improvement District); and
2. Notice of Public Hearing (Re Incurring Bonded Debt for Special Improvement
District).
Publications of Notices
Both of the enclosed notices must be published once in a local newspaper circulated in
the City of Newport Beach. The publications must occur not later than June 5, 1995. When
arranging for publication, please have the newspaper provide you with two affidavits or legal
proofs of publication for each notice. When you receive them, retain one of each for your files
and send the other two to me for the official bond transcript. The costs of publication are to be
reimbursed from the bond issue.
Recording the Map
The first resolution of intention (A Resolution of Intention to Establish a Special
Improvement District and to Authorize the Levy of Special Taxes) requires that the Boundary
Map of the district be completed and recorded. This must be done not later than May 26, 1995.
A representative of The Irvine Company will provide you with a Boundary Map prepared in
proper form. In order to complete the Boundary Map for recording, please follow the steps set
forth below:
Wanda E. Raggio, City Clerk
City of Newport Beach
May 16, 1995
Page 2
a. The small Clerk's filing certificate must be completed to show a date that is not later
than May 8, 1995 (the date of adoption of the first resolution of intention);
b. The long Clerk's certificate must be completed to show the date of adoption and
number of the first resolution of intention and be signed by the Clerk; and
c. The County Recorder's certificate must be completed by the County Recorder (or
Deputy) to show recording not later than May 26, 1995.
When arranging for recording, please have two extra copies of the completed and
recorded map provided to you. Retain one copy for your files and send the other to me for the
transcript. By copies hereof, I am requesting that Don Webb and Norm Witt help with the
Boundary Map completion and recording process.
Thank you for your assistance and cooperation. If you have any questions please do not
hesitate to call.
Very truly yours,
Greg . gton
Enclosure
cc: Don Webb
Norm Witt