1990 ORD O-17-90_Special Tax within CFD

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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 WHEREAS, on November 6, 1990, an election was held within the Community Facilities District (the "Election") in which the owners of real property within the Community Facilities District and voting at the Election approved by at least two-thirds (2/3) of the votes cast at the Election the proposition of incurring a bonded indebtedness, levying a special tax and setting an appropriations limit within the Community Facilities District; and WHEREAS, a "Notice of Special Tax Lien for Community Facilities District No. 90-1 of the City of Colton" has been filed with and recorded by the County Recorder for the County of San Bernardino, State of California pursuant to Section 3114.5 of the Streets and Highways Code of the State of California; and WHEREAS, pursuant to Section 53340 of the Act, the City Council is authorized to levy the special tax authorized at the Election by adoption of this Ordinance; NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF COLTON, COUNTY OF SAN BERNARDINO, STATE OF CALIFORNIA, acting as the legislative body of Community Facilities District No. 90-1, as follows: Section 1. By the passage of this Ordinance, the City Council authorizes the levy of a special tax pursuant to the rate and method of apportionment set forth in Exhibit "A" (the "Rate and Method of Apportionment"), attached hereto and incorporated herein by this reference in an amount necessary to pay all of the costs of providing the facilities, periodic costs, costs of the tax levy and collection, and all other costs including amounts payable with respect to the bonded indebtedness within the boundaries of the Community Facilities District. -2-