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WHEREAS, notice was published as required by law <br />relative to the intention of the Council to form proposed <br />Community Facilities District No. 89-2 and to incur bonded <br />indebtedness in the amount not to exceed $9,000,000 within <br />the boundaries of Community Facilities District No. 89-2; and <br />WHEREAS, on September 19, 1989, this Council held a <br />noticed public hearing as required by law relative to the <br />determination to proceed with the formation of Community <br />Facilities District No. 89-2, the rate and method of <br />apportionment and manner of collection of the special tax to <br />be levied within Community Facilities District No. 89-2 to <br />pay the principal and interest on the proposed bonded <br />indebtedness of Community Facilities District No. 89-2 and <br />relative to the necessity for authorizing the bonds, the <br />purpose for which the bonds are to be issued, the amount of <br />the proposed debt, the maximum term of the bonds and the <br />maximum annual rate of interest to be paid; and <br />WHEREAS, at said hearing all persons desiring to be <br />heard on all matters pertaining to the formation of Community <br />Facilities District No. 89-2 and the incurring of bonded <br />indebtedness by Community Facilities District No. 89-2 were <br />heard and a full and fair hearing was held; and <br />WHEREAS, the Council subsequent to said hearing adopted <br />Resolution No. R-123-89 determining the validity of prior <br />proceedings relative to the formation of Community Facilities <br />District No. 89-2, established Community Facilities District <br />-2- <br />