HomeMy WebLinkAbout20 - CIOSA ResolutionsCouncil Agenda Item #r 20
CITY OF NEWPORT BEACH
DEPARTMENT OF FINANCE
Interdepartmental Memorandum
September 29,1995
BY THE CITY COUNCIL
CITY OF NEWPORT BEACH
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.
At the Council meeting of June 12, 1995, the City Council approved the Special
Improvement District Report, a Resolution of Formation of the City of Newport Beach
Special Improvement District No. 95-1 (CIOSA), a Resolution Determining the
Necessity to Incur Bonded Indebtedness, and a Resolution Calling for a Special Election.
At the Council meeting of June 26, 1995 the City Council approved the Official Ballot, a
Resolution Declaring the Results of the Special Election, an Ordinance Levying Special
Taxes, and a Notice of Special Tax Lien.
Subsequently, the Irvine Company requested permission to alter the Rate and Method
of the apportionment of the special tax. Accordingly, on August 28, 1995, the City
Council adopted a Resolution considering this alteration and set October 9, 1995, as the
public hearing date to take action on the request. Recently it was discovered that a
clerical error allowed the inclusion of an extraneous parcel in the district. In order to
proceed with the CIOSA financing, the City Council should take the following actions:
Proceedings to Exclude Extraneous Parcel,
a. Resolution Ordering Correction of Clerical Errors;
b. First Amendment to Notice of Special Tax Lien; and
Amended boundary Map Instructions.
CIOSA FINANCING DISTRICT
Page Two
2. Proceedings to Alter Rate and Method of Apportionment
a. Order of Proceedings;
b. ResolutionCalling Special Election;
c. Official Ballot and Ballot Envelope;
d. Canvass and Statement of Results of Election
e. Resolution of Change
f. Second Amendment to Notice of Special Tax Lien; and
g. Ordinance Levying Special Taxes
Also to be approved is an Agreement for Bond Counsel Services between the City and
Jones Hall Hill & White, A Professional Law corporation.
At the Special City Council meeting of October 19, 1995, the City Council will be asked
to approve:
1. Proceedings to Issue Bonds
a. Resolution Authorizing Issuance; and
b. Continuing Disclosure Certificate
The Resolution Authorizing Issuance approves and authorizes the Fiscal Agent
Agreement, Preliminary Official Statement, Purchase Contract, and Protocol
Agreement.
RECOMMENDATION:
It is respectfully recommended that the City Council, at the meeting of October 9, 1995,
approve the documents included in the Proceedings to Exclude Extraneous Parcel, and the
Proceedings to Alter Rate and Method of Apportionment, and approve an Agreement for
Bond Counsel Services between the City and Jones Hall Hill & White, a Professional
Law corporation. It is further recommended that the City Council consider the
Proceedings to Issue Bonds at the Special Council Meeting of October 19, 1995.
10/03/95 8:57 AM CIOSA.DOC
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9/26/95
RESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
NEWPORT BEACH ORDERING THE CORRECTION OF
CLERICAL ERRORS MADE WITH RESPECT TO THE CITY OF
NEWPORT BEACH SPECIAL IMPROVEMENT DISTRICT NO.
95-1(CIOSA)
WHEREAS, on May 8, 1995 the City Council 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" (the
"Resolution of Intention") stating its intention to establish the City of Newport Beach
Special Improvement District No. 95-1 (CIOSA) (the "District"), pursuant to the City of
Newport Beach Special Improvement District Financing Code (the "Code"), to finance
certain facilities (the "Facilities");
WHEREAS, pursuant to the Resolution of Intention, the City Clerk was directed to
record, or cause to be recorded, a map of the boundaries of the District (the "Boundary
Map") in the office of the County Recorder within fifteen days of the date of adoption of the
Resolution of Intention;
WHEREAS, notice was published as required by the Code relative to the intention of
the City Council to form the District and to provide for the Facilities;
WHEREAS, the City Council has held a noticed public hearing as required by the
Code relative to the determination to proceed with the formation of the District and the rate
and method of apportionment of the special tax to be levied within the District to finance a
portion of the costs of the Facilities;
WHEREAS, at said hearing all persons desiring to be heard on all matters pertaining
to the formation of the District and the levy of said special taxes were heard, substantial
evidence was presented and considered by the City Council and a full and fair hearing was
held;
WHEREAS, on June 12, 1995, the City Council adopted a resolution entitled "A
Resolution of the City Council of the City of Newport Beach of Formation of the City of
Newport Beach Special Improvement District No. 95-1 (CIOSA), Authorizing the Levy of a
Special Tax Within the District and Preliminarily Establishing an Appropriations Limit for
the District", which resolution established the District, described the boundaries of the
District by reference to and incorporation of the recorded Boundary Map and authorized the
levy of a special tax within the District;
WHEREAS, on June 12, 1995, the City Council adopted a resolution entitled "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)", which resolution
called an election within the District on the proposition of incurring indebtedness, levying a
special tax and establishing an appropriations limit within the District;
WHEREAS, an election was held within the District in which the eligible landowner
electors approved said propositions by more than the two-thirds vote required by the Code;
WHEREAS, on June 26, 1995, the City Council adopted a resolution entitled "A
Resolution of the City Council of the City of Newport Beach Declaring Results of Special
Election and Directing Recording of Special Tax Lien' (the "Resolution Directing
Recording"), which resolution, among other things, directed the City Clerk to execute and
cause to be recorded in the office of the County Recorder of the County of Orange a notice of
special tax lien in the form required by the Code, said recording to occur no later than fifteen
days following adoption by the City Council of the Resolution Directing Recording;
WHEREAS, pursuant to the requirements of Section 3114.5 of the California Streets
and Highways Code and Section 320 of the Code, a notice of special tax lien with respect to
the District (the 'Notice of Special Tax Lien") was recorded in the Office of the County
Recorder of the County of Orange;
WHEREAS, the City Council has been informed that, due to a clerical error, an
extraneous parcel of property, identified as Orange County Assessor's Parcel No. 442-271-12
(the "Extraneous Parcel"), was inadvertently included in the Boundary Map and in the
Notice of Special Tax Lien;
WHEREAS, the City Council desires to cause the Boundary Map and the Notice of
Special Tax Lien to be amended so as to exclude the Extraneous Parcel therefrom; and
WHEREAS, an amended boundary map of the District (the "Amended Map"), which
excludes from the District the Extraneous Parcel, is on file with the City Clerk;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Newport
Beach as follows:
Section 1. The foregoing recitals are true and correct.
Section 2. The City Council hereby finds and determines that the Extraneous Parcel
was not intended to be a part of the proceedings for the District and was inadvertently
included therein and in the Boundary Map and Notice of Special Tax Lien as a result of a
clerical error.
Section 3. The Amended Map is hereby approved and the City Clerk is hereby
directed to record, or cause to be recorded, the Amended Map in the office of the County
Recorder of the County of Orange.
Section 4. In accordance with Section 3117.5 of the California Streets and Highways
Code, the City Clerk is hereby directed to record, or cause to be recorded, in the office of the
County Recorder of the County of Orange, a first amendment to the Notice of Special Tax
Lien, substantially in the form attached hereto as Exhibit A.
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Section 5. Except for such modifications as are necessary in order to exclude the
Extraneous Parcel, all prior proceedings taken by the City Council in connection with the
District shall remain in full force and effect.
Section 6. This Resolution shall take effect immediately upon its adoption.
APPROVED and ADOPTED by the City Council of the City of Newport Beach on
October 9, 1995.
John W. Hedges, Mayor
ATTEST:
Wanda E. Raggio, City Clerk
EXHIBIT A
FIRST AMENDMENT TO
NOTICE OF SPECIAL TAX LIEN
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"), a Notice of Special Tax Lien with respect to the City of
Newport Beach Special Improvement District No. 95-1 (CIOSA) (the "District") was recorded
in the Office of the County Recorder of the County of Orange on July _, 1995, as
Instrument No.
Due to a clerical error, a parcel of property was inadvertently included in the
boundary map for the District and in said Notice of Special Tax Lien. In order to rectify said
error, an amended boundary map for the District, which excludes such extraneous parcel,
has been prepared and recorded. Pursuant to the requirements of Section 3117.5 of the
California Streets and Highways Code and Section 412 of the Code, the undersigned City
Clerk of the City of Newport Beach, County of Orange, State of California, hereby gives
notice that the parcel of real property described in Schedule I attached hereto and hereby
made a part hereof is excluded from the District.
The name of the owner and the assessor's tax parcel number of the real property
excluded from the District is as set forth in Schedule I hereto.
Reference is made to the amended boundary map of the District recorded at Book
of Maps of Assessment .and Community Facilities Districts at Pages _ through --, 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.
Dated: October _,1995
A-1
Wanda E. Raggio, City Clerk
SCHEDULE I
CITY OF NEWPORT BEACH
SPECIAL IMPROVEMENT DISTRICT NO. 95-1
(CIOSA)
PARCEL BEING EXCLUDED FROM DISTRICT
Name of Property Owner Assessor's Parcel No.
442-271-12
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
I, Wanda E. Raggio, City Clerk of the City of Newport Beach, California hereby certify
that the foregoing is a full, true and correct copy of a Resolution duly adopted at a regular
meeting of the City Council of said City duly and regularly held at the regular meeting place
thereof on October 9, 1995, of which meeting all of the members of said City Council had
due notice and at which a majority thereof were present; and that at said meeting said
Resolution was adopted by the following vote:
AYES: COUNCIL MEMBERS:
NOES: COUNCIL MEMBERS:
ABSENT: COUNCIL MEMBERS:
An agenda of said meeting was posted at least 72 hours before said meeting at 3300
Newport Boulevard, Newport Beach, California, a location freely accessible to members of
the public, and a brief general description of said Resolution appeared on said agenda.
I further certify that I have carefully compared the same with the original minutes of
said meeting on file and of record in my office; that the foregoing Resolution is a full, true
and correct copy of the original Resolution adopted at said meeting and entered in said
minutes; and that said Resolution has not been amended, modified or rescinded since the
date of its adoption, and the same is now in full force and effect.
Dated: ,1995
Wanda E. Raggio, City Clerk
RECORDING REQUESTED BY AND
AFTER RECORDATION RETURN TO:
City Clerk
City of Newport Beach
3300 Newport Boulevard
Newport Beach, CA 92663
FIRST AMENDMENT TO
NOTICE OF SPECIAL TAX LIEN
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"), a Notice of Special Tax Lien with respect to the City of
Newport Beach Special Improvement District No. 95-1 (CIOSA) (the "District") was recorded
in the Office of the County Recorder of the County of Orange on July ___, 1995, as
Instrument No.
Due to a clerical error, a parcel of property was inadvertently included in the
boundary map for the District and in said Notice of Special Tax Lien. In order to rectify said
error, an amended boundary map for the District, which excludes such extraneous parcel,
has been prepared and recorded. Pursuant to the requirements of Section 3117.5 of the
California Streets and Highways Code and Section 412 of the Code, the undersigned City
Clerk of the City of Newport Beach, County of Orange, State of California, hereby gives
notice that the parcel of real property described in Schedule I attached hereto and hereby
made a part hereof is excluded from the District.
The name of the owner and the assessor's tax parcel number of the real property
excluded from the District is as set forth in Schedule I hereto.
Reference is made to the amended boundary map of the District recorded at Book _
of Maps of Assessment and Community Facilities Districts at Pages _ through . 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.
Dated: October _,1995
Wanda E. Raggio, City Clerk
N
SCHEDULE I
CITY OF NEWPORT BEACH
SPECIAL IMPROVEMENT DISTRICT NO. 95-1
(CIOSA)
PARCEL BEING EXCLUDED FROM DISTRICT
Name of Property Owner Assessor's Parcel No.
442-271-12
I-1
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9/25/95
CITY OF NEWPORT BEACH
SPECIAL IMPROVEMENT DISTRICT NO. 95-1
(CIOSA)
AMENDED BOUNDARY MAP INSTRUCTIONS
The following are basic instructions for preparing the Amended Boundary Map for the City
of Newport Beach Special Improvement District No. 95-1 (CIOSA) (the "District"). Since
these documents will be recorded, be sure to check with the County Recorder about any
local requirements before completing the map.
The amended boundary map must be legibly drawn, printed or reproduced by a process that
provides a permanent record. Each sheet must be 18" by 26" in size, must clearly show the
sheet number of the sheet, the total number of sheets comprising the map and its relation
to each adjoining sheet (i.e., match lines) and must have a border 1" in width on all sides.
An appropriate legend showing the new boundary line of the territory included in the
District (which is the same territory as in the original map, less assessor's parcel number
442-271-12) must appear on the face of the map.
The map should be labeled as follows:
First Amended Map of City of Newport Beach Special Improvement District
No. 95-1 (CIOSA), City of Newport Beach, County of Orange, State of
California.
If the map consists of more than one page, the same title must appear on each page.
Near the label, the following must appear:
Reference is hereby made to that certain map entitled "Proposed Boundaries of the
City of Newport Beach Special Improvement District No. 95-1 (CIOSA), City of
Newport Beach, County of Orange, State of California" filed the _ day of
1995, at the hour of o'clock a.m. in Book 68 at pages 26 through 35 of Maps of
Assessment and Community Facilities Districts in the office of the County Recorder
of the County of Orange, State of California, which this First Amended Map
supersedes.
The map must have the following certificates on the first page:
Filed in the office of the City Clerk of the City of Newport Beach this _ day of
.1995.
City Clerk
2. I hereby certify that the within map showing the revised boundaries of the City of
Newport Beach Special Improvement District No. 95-1 (CIOSA), City of Newport
Beach, County of Orange, State of California, was approved by the City Council of the
City of Newport Beach, at a meeting thereof, held on the 9th day of October, 1995, by
its Resolution No. _.
City Clerk
3. Filed this — day of .1995, at the hour of o'clock _.m., in Book of
Maps of Assessment and Community Facilities Districts at Pages — through in
the office of the County Recorder in the County of Orange, State of California.
County Recorder,
County of Orange
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CITY OF NEWPORT BEACH
SPECIAL IMPROVEMENT DISTRICT NO. 95-1
(CIOSA)
ORDER OF PROCEEDINGS FOR HEARING
TO ALTER RATE AND METHOD OF APPORTIONMENT
OCTOBER 9,1995
1. The Mayor makes the following opening remarks:
9/26/95
"This is the time and place for the public hearings in this Council's
proceedings for alteration of the rate and method of apportionment of special taxes
for City of Newport Beach Special Improvement District No. 95-1 (CIOSA). The
hearings are to inquire into the proposed alteration of the rate and method of
apportionment.
"Before I formally open the hearings, are there any property owners or
persons registered to vote in the District who wish to file written protests? If so, they
must be filed with the City Clerk now.
[Pause to see if there are any protests.]
"The hearings are now officially opened. To have orderly hearings, we will
first have presentations by staff and the consultants about the proposed alteration of
the rate and method of apportionment of special taxes for the District. After that, we
will receive comments and questions and any oral protests from any interested
persons. When all comments have been received the hearings will be closed."
2. Staff and consultants make presentations.
3. Time for comments, questions and protests from audience.
4. Close hearings.
5. The City Council may then ask questions and discuss the proposed alteration of
the rate and method of apportionment of special taxes for the District.
6. When discussion is through, the City Council considers and adopts A Resolution
of the City Council of the City of Newport Beach Calling Special Election Regarding
Alterations to the Rate and Method of Apportionment of Special Taxes for the City of
Newport Beach Special Improvement District No. 95-1 (CIOSA).
7. The Mayor then announces:
"At this time, I ask the City Clerk to open the ballots and announce the results of the
election."
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[Pause for opening of ballots.]
8. The City Clerk opens the ballots and announces the results of the election. The
City Clerk then completes one copy of the Canvass and Statement of Result of Election.
9. The Mayor then announces:
"The results of the election being unanimously in favor of the alteration of
the rate and method of apportionment of special taxes for the District, we may now
proceed with the final actions for the District."
10. The City Council considers and takes the following actions:
a. Adoption of A Resolution of the City Council of the City of Newport
Beach of Change Determining that the Alterations to the Rate and Method of
Apportionment of Special Tax Are Lawfully Authorized and Directing Recording of
Amendment to Notice of Special Tax Lien
b. First reading of Ordinance of the City of Newport Beach Levying Special
Taxes within the City of Newport Beach Special Improvement District No. 95-1
(CIOSA)
End of Item.
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RESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
NEWPORT BEACH CALLING SPECIAL ELECTION
REGARDING ALTERATIONS TO THE RATE AND METHOD
OF APPORTIONMENT OF SPECIAL TAXES FOR THE CITY OF
NEWPORT BEACH SPECIAL IMPROVEMENT DISTRICT NO.
95-1(CIOSA)
WHEREAS, in its proceedings for the City of Newport Beach Special Improvement
District No. 95-1 (CIOSA) (the "District"), the City Council, on June 12, 1995, adopted a
resolution entitled "A Resolution of the City Council of the City of Newport Beach of
Formation of the City of Newport Beach Special Improvement District No. 95-1 (CIOSA),
Authorizing the Levy of a Special Tax Within the District and Preliminarily Establishing an
Appropriations Limit for the District" (the "Resolution of Formation'), which resolution
established the District and authorized the levy of a special tax within the District;
WHEREAS, on August 28, 1995, the City Council adopted a resolution entitled "A
Resolution of the City Council of the City of Newport Beach of Consideration To Alter the
Rate And Method of Apportionment of an Existing Special Tax" (the "Resolution of
Consideration"), proposing to alter the rate and method of apportionment of the special tax
to be levied within the District pursuant to the City of Newport Beach Special Improvement
District Financing Code (the "Code");
WHEREAS, the Resolution of Consideration, incorporating the proposed alterations
to the rate and method of apportionment of the special tax to be levied within the District, is
on file with the City Clerk and the provisions thereof are incorporated herein by this
reference as if fully set forth herein;
WHEREAS, on this date, the City Council held a noticed public hearing as required
by the Code and the Resolution of Consideration relative to the proposed alterations to the
rate and method of apportionment of the special tax to be levied within the District;
WHEREAS, at said hearing all interested persons desiring to be heard on all matters
pertaining to the proposed alterations to the rate and method of apportionment of the
special tax to be levied within the District were heard and a full and fair hearing was held;
WHEREAS, at said hearing evidence was presented to the City Council on said
matters before it and the City Council at the conclusion of said hearing is fully advised in
the premises;
WHEREAS, written protests with respect to the proposed alterations to the rate and
method of apportionment of the special tax to be levied within the District have not been
filed with the City Clerk by fifty percent (50%) or more of the registered voters residing
within the territory of the District or property owners of one-half (1/2) or more of the area
of land within the District and not exempt from the special tax; and
WHEREAS, the proposition of the alterations to the rate and method of
apportionment of the special tax to be levied within the District shall be submitted to the
qualified electors of the District as required by the Code;
NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Newport
Beach as follows:
Section 1. The foregoing recitals are true and correct.
Section 2. The proposed alterations to the rate and method of apportionment of the
special tax to be levied within the District have not been precluded by majority protest
pursuant to Section 411 of the Code.
Section 3. All prior proceedings taken by the City Council in connection with the
alterations to the rate and method of apportionment of the special tax to be levied within
the District have been duly considered and are hereby found and determined to be valid and
in conformity with the requirements of the Code.
Section 4. The rate and method of apportionment of the special tax to be levied
within the District is hereby altered from that specified in the Resolution of Formation and
shall be as specified in the Amended and Restated Rate and Method of Apportionment for
the City of Newport Beach Special Improvement District No. 95-1 (CIOSA) set forth in
Exhibit A attached hereto and hereby made a part hereof. The City Council hereby expressly
finds and determines that said rate and method, as altered, will not interfere with the
timely repayment of any indebtedness incurred with respect to the District.
Section 5. Pursuant to Section 412 of the Code, the issue of the alterations to the rate
and method of apportionment of the special tax to be levied within the District shall be
submitted to the qualified electors of the District at an election called therefor as provided
below.
Section 6. The proposition to alter the rate and method of apportionment of the
special tax to be levied within the District shall be submitted to the qualified electors of the
District in a ballot measure, the form of which is attached hereto as Exhibit B and by this
reference incorporated herein. Said form of ballot is hereby approved.
Section 7. The City Council 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 proceedings. 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 District and that the vote shall be by said landowners or their
authorized representatives, 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 8. The City Council hereby calls a special election to consider the measure
described in Section 6 hereof, which election shall be held in the City Council Chambers at
7:00 p.m. on October 9, 1995. The City Clerk is hereby designated as the official to conduct
said election. The City Clerk, as such election official, shall be provided with this
Resolution, a certified map of the boundaries of the District and a sufficient description to
allow the City Clerk to determine the boundaries of the District within three business days
after the adoption of this Resolution.
The voted ballots shall be returned to the City Clerk not later than 8:00 p.m. on
October 9, 1995; provided, however, that, notwithstanding the foregoing, when all of the
qualified voters have voted, the election shall be closed and canvassed.
Section 9. Pursuant to Section 317 of the Code, the election shall be conducted by
mail or hand -delivered ballot pursuant to Section 1340 of the California Elections Code.
The City Council hereby finds that paragraphs (a), (b), (c) (1) and (c)(3) of said Section 1340
are applicable to this special election.
Section 10. The City Clerk shall cause to be delivered to each of the qualified electors
of the District a ballot in the form set forth in Exhibit B hereto. Each ballot indicates the
number of votes to be voted by the respective landowner to which it pertains.
Each ballot shall be accompanied by all supplies and written instructions necessary
for the use and return of the ballot. The envelope to be used to return the ballot shall be
enclosed with the ballot, shall have the return postage prepaid, and shall contain the
following: (a) the name and address of the landowner, (b) a declaration, under penalty of
perjury, stating that the voter is the owner of record or the authorized representative of the
landowner entitled to vote and is the person whose name appears on the envelope, (c) the
printed name, signature and address of the voter, (d) the date of signing and place of
execution of the declaration pursuant to clause (b) above, and (e) a notice that the envelope
contains an official ballot and is to be opened only by the canvassing board.
Analysis and arguments with respect to the ballot measures are hereby waived, as
provided in Section 317 of the Code.
Section 11. The City Clerk shall accept the ballots of the qualified electors in her
office or in the City Council Chambers to and including 8:00 p.m. on October 9, 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 12. The City Council hereby further finds that to the extent that the
provisions of Section 316 of the Code require a minimum of 90 days following the adoption
of this Resolution to elapse before said special election, such provisions are for the
protection of the qualified elector of the District. There is on file with the City Clerk a
written petition executed by the qualified elector of the District requesting a shortening of
the time for said special election to expedite the completion of the proceedings for the
alterations to the rate and method of apportionment of the special tax to be levied in the
District, and waiving any requirement for analysis and arguments in connection with the
election. Accordingly, the City Council finds and determines that said qualified elector has
been fully apprised of and has agreed to the shortened time for the election and waiver of
analysis and arguments, and has thereby been fully protected in these proceedings. The City
Council also finds and determines that the City Clerk has concurred in the shortened time
for the election.
Section 13. This Resolution shall take effect immediately upon its adoption.
APPROVED and ADOPTED by the City Council of the City of Newport Beach on j
October 9, 1995.
John W. Hedges, Mayor
ATTEST:
Wanda E. Raggio, City Clerk
EXHIBIT A
AMENDED AND RESTATED
RATE AND METHOD OF APPORTIONMENT
FOR CITY OF NTWPORT BEACH
SPECIAL IlVIPROVEMY-NT 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.
\ cl
"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 totalmouefrom sitedthe i le a CIOSA
nds,
District Improvement Fund on or before such date from (a) proceeds
(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 amounts on
deposit in the CIOSA District Improvement Fund.
"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.
hereto.
'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
"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 I of the preceding Fiscal
Year.
"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 - PCH/MacArthur" 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.
'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
A-3 3 \
r'
(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 edenominaMap,
times a fraction the numerator of which is one (1)
tor 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
A-4 �-
(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 I 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.
A-5 �-
"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
te
aza
-Zone,, means Bayview Landing, CB�aB�uCorporate Newporte North, SanaDieglo Creek or
Freeway Reservation, Newport Village
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
Bayview Landing
Block 800
Corporate Plaza
Corporate Plaza West
Freeway Reservation
Newport Village - PCH/MacArthur
Newporter North
San Diego Creek
Upper Castaways
Prepayment Amount
$ 95,000
1,370,000
1,400,000
1,925,000
1,585,000
2,575,000
7,950,000
2,890,000
6,960,000
"Zone Special Tax' means, for Fiscaub Year en9i 9Fis al Year 1995 96,6, the respective uoneehundred two
t forth in the
following table and, for each Fiscal Year q
A-6
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
$ 7,200
105,350
107,572
147,911
121,830
197,855
610,900
222,300
534,786
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
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
A-7 � �
Fourth: After the CIOSA District Improvement Fund Requirement has been reduced to zero,
to the extent additional money is needed in order to equal eDebt Service
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. G
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 OSA Agnal reivision ement) orap as a by g'ftresult or devise or through eminent
f acquisition through a
negotiated transaction (other than the C
domain proceedings, provided that in the,°rte shauch lloperty betreated as if
through
wege a domain
proceedings the obligation to pay the Special
assessment.
F. Appeals
Any landowner or resident who feels that the amount of the Special Tis in error may
that
file
a notice with the CIOSA District appealing the amount of the Special Tax;
ll provided, the actual Special
if Bonds are outstanding any appeal must be accompanied by pay and, if necessary,
Tax levied. A representativeof
findings sof thCIOSA eC OSA District representatiistrict will then review the ve that the amount
meet with the applicant. If theg
of the Special Tax should be modified or changed, en ��hall beas arefundredte, the from available Special axes
ial Tax levy shall
be corrected, or if the amount has been paid,
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
I . Prior to Issuance of Bonds - Developed Property and Undeveloped Property: Prior to
the initial issuance of Bonds, the Special Tax applicable to any Assessor's celmayobtained by
e prepaid in
whole by paying to the City Treasurer seventy-seven percent (77%) � product
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 Assessors 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
A -s 3 �p
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. After Issuance of Bonds - Undeveloped Property If Test Met: Subsequent to the initial
issuance of Bonds, if the aggregate amount of the Special Taxes applicable to all Developed Property
is sufficient to satisfy the Debt Service Requirement for the Bonds then outstanding in the then
current Fiscal Year and each Fiscal Year thereafter (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. Under
the circumstances 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. After Issuance of Bonds - Developed Property and Undeveloped Property If Test Not
Met: 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); provided that, in
the case of an Assessor's Parcel which is then classified as Developed Property, the
remainder referred to in the previous clause of this subparagraph shall be reduced by twenty-
three percent (23 %) of the product obtained by multiplying (iii) the Share of Zone Area for
such Assessor's Parcel times (iv) a fraction the numerator of which is the Zone Prepayment
Amount' applicable to the Zone in which such Assessor's Parcel is located and the
denominator of which is the aggregate Zone Prepayment Amounts for all Zones which then
include Developed Property times (v) the amount, if any, by which the aggregate Zone
Prepayment Amounts for all Zones which then include Developed Property exceeds the
aggregate principal amount of Bonds then outstanding; and
A-9
(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.
A-10 -, �
EXHIBIT A
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 - PCH/MacArthur 442-014-28
442-272-03
442-272-04
Freeway Reservation 458-142-07
EXHIBIT A-1 -C)
240055-02 JHHW:cHbd anb�
NOTICE OF PUBLIC HEARING
CITY OF NEWPORT BEACH
SPECIAL IMPROVEMENT DISTRICT NO. 95-1
(CIOSA)
Notice is hereby given that on August 28, 1995, the City Council of the City o
Newport Beach adopted a Resolution entitled "A Resolution of the City Council of the Cit:
of Newport Beach of Consideration to Alter the Rate and Method of Apportionment of ar
Existing Special Tax". Pursuant to the City of Newport Beach Special Improvement Distric
Financing Code, the City Council of the City of Newport Beach hereby gives notice a
follows:
A. The text of said Resolution of Consideration is as follows:
B. The time and place established under said Resolution of Consideration for the
public hearing required under the Code are Monday, October 9, 1995, at 7:00 p.m., in th,
regular meeting place of the City Council of the City of Newport Beach, Council Chambers
City Hall, 3300 Newport Boulevard, Newport Beach, California.
C. At said hearing, the testimony of all interested persons or taxpayers for or Ls
b
the proposed alterations to the rate and method of apportionment of the special tax w
ill heard. Any person interested may file a protest in writing as provided in Section 410 of th
Code. If fifty percent or more of the registered voters, or six registered voters, whichever i,
more, residing within the District, or the owners of one-half or more of the area of land it
the territory included in the District and not exempt from the special tax, file writte
protests against any proposed alteration to the rate and method of apportionment of th
special tax, and the protests are not withdrawn so as to reduce the value of the protests t
less than a majority, those changes shall be eliminated from the Resolution c
Consideration and the changes shall not be included in a resolution of Consideration fo
period of one year from the date of the decision of the City Council on the hearing.
D. The proposed voting procedure shall be by special mail or hand -delivered ballc
to the property owners within the District.
Dated: ,1995
/s/ Wanda E Raggio
City Clerk, City of Newport Beach
�V
v
PETITION
TO COMMENCE PROCEEDINGS TO ALTER
RATE AND METHOD OF APPORTIONMENT
City Council
City of Newport Beach
3300 Newport Boulevard
Newport Beach, California 92659
Members of the Council:
This is a petition to commence proceedings, under the City of Newport Beach Special
Improvement District Financing Code (the "Code") to alter the rate and method of
apportionment of an existing special tax, and the undersigned hereby states as follows:
1. Petitioner. This petition is submitted by The Irvine Company ('Petitioner"),
as the owner of all of the parcels of land within the City of Newport Beach Special
Improvement District No. 95-1 (CIOSA) (the "District"). By submitting this petition,
Petitioner warrants to the City of Newport Beach (the "City") that it is the owner of such
land.
2. Proceedings Requested. Petitioner hereby requests that the City Council of the
City institute proceedings under the Code to alter the rate and method of apportionment of
the special tax previously authorized to be levied on property within the District.
3. Alterations Proposed. The proposed alterations to the previously authorized
rate and method of apportionment are incorporated into the amended and restated rate and
method of apportionment set forth in Exhibit A attached hereto and made a part hereof.
4. Election. Petitioner hereby requests that the
the Code to authorize the alterations to the previously
apportionment be conducted by the City and its officials
ballots and that such ballots be opened and canvassed an(
meeting of the City Council as the public hearing on tl
under the Code, or as soon thereafter as possible.
special election to be held under
authorized rate and method of
using mailed or hand -delivered
I the results certified at the same
ie proposed alterations required
5. Waivers. To expedite the completion of the proceedings for the alterations to
the previously authorized rate and method of apportionment, Petitioner hereby waives all
notices of hearings (other than published notices required under the Code) and all notices of
election, all applicable waiting periods under the Code for the election and all ballot analysis
and arguments for the election.
or receiving
es is:
6. Mailing Address. The address of thePetitioner Beach f California 92660,cAttentione
Irvine Company, 550 Newport Center Dave, Newport
Vice President and General Counsel Land Development Group.
This petition is dated August 21, 1995.
The Irvine Company, ichigan
corporation
By:
Its:
ivislon of The Ini e' Co any
i
By:
0MAS
•
Its: (�{STfWT S
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
I, Wanda E. Raggio, City Clerk of the City of Newport Beach, California hereby certify
that the foregoing is a full, true and correct copy of a Resolution duly adopted at a regular
meeting of the City Council of said City duly and regularly held at the regular meeting place
thereof on August 28, 1995, of which meeting all of the members of said City Council had
due notice and at which a majority thereof were present; and that at said meeting said
Resolution was adopted by the following vote:
AYES: COUNCIL MEMBERS:
NOES: COUNCIL MEMBERS:
ABSENT: COUNCIL MEMBERS:
An agenda of said meeting was posted at least 72 hours before said meeting at 3300
Newport Boulevard, Newport Beach, California, a location freely accessible to members of
the public, and a brief general description of said Resolution appeared on said agenda.
I further certify that I have carefully compared the same with the original minutes of
said meeting on file and of record in my office; that the foregoing Resolution is a full, true
and correct copy of the original Resolution adopted at said meeting and entered in said
minutes; and that said Resolution has not been amended, modified or rescinded since the
date of its adoption, and the same is now in full force and effect.
Dated: ,1995
Wanda E. Raggio, City Clerk
3--5
EXHIBIT B
CITY OF NEWPORT BEACH
SPECIAL IMPROVEMENT DISTRICT NO. 95-1
(CIOSA)
OFFICIAL BALLOT
SPECIAL ELECTION REGARDING ALTERATION OF
RATE AND METHOD OF APPORTIONMENT
(OCTOBER 9,1995)
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 8:00 p.m. on October 9, 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 8:00
p.m. on October 9,1995.
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 rate and
method of apportionment of the special tax to be
levied within the City of Newport Beach Special
Improvement District No. 95-1 (CIOSA) be altered as
described in the resolution of the City Council of the
City of Newport Beach, adopted October 9, 1995,
entitled "A Resolution of the City Council of the
City of Newport Beach Calling Special Election
Regarding Alterations To the Rate And Method of
Apportionment of Special Taxes for the City of
Newport Beach Special Improvement District No.
95-1 (CIOSA)"?
Yes:
No:
B-1
3'�
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:
Property Owner:
B-2
Landowner
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
I, Wanda E. Raggio, City Clerk of the City of Newport Beach, California hereby certify
that the foregoing is a full, true and correct copy of a Resolution duly adopted at a regular
meeting of the City Council of said City duly and regularly held at the regular meeting place
thereof on October 9, 1995, of which meeting all of the members of said City Council had
due notice and at which a majority thereof were present; and that at said meeting said
Resolution was adopted by the following vote:
AYES: COUNCIL MEMBERS:
NOES: COUNCIL MEMBERS:
ABSENT: COUNCIL MEMBERS:
An agenda of said meeting was posted at least 72 hours before said meeting at 3300
Newport Boulevard, Newport Beach, California, a location freely accessible to members of
the public, and a brief general description of said Resolution appeared on said agenda.
I further certify that I have carefully compared the same with the original minutes of
said meeting on file and of record in my office; that the foregoing Resolution is a full, true
and correct copy of the original Resolution adopted at said meeting and entered in said
minutes; and that said Resolution has not been amended, modified or rescinded since the
date of its adoption, and the same is now in full force and effect.
Dated: 1995
Wanda E. Raggio, City Clerk
?, �D
CITY OF NEWPORT BEACH
SPECIAL IMPROVEMENT DISTRICT NO. 95-1
(CIOSA)
OFFICIAL BALLOT
SPECIAL ELECTION REGARDING ALTERATION OF
RATE AND METHOD OF APPORTIONMENT
(OCTOBER 9,1995)
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 8:00 p.m. on October 9, 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 8:00
p.m. on October 9, 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 rate and method of
apportionment of the special tax to be levied within the City of
Newport Beach Special Improvement District No. 95-1
(CIOSA) be altered as described in the resolution of the City
Council of the City of Newport Beach, adopted October 9, 1995,
entitled "A Resolution of the City Council of the City of Yes:
Newport Beach Calling Special Election Regarding Alterations
To the Rate And Method of Apportionment of Special Taxes
for the City of Newport Beach Special Improvement District No:
No. 95-1 (CIOSA)"?
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
By:
Its:
By:
Its:
CITY OF NEWPORT BEACH
SPECIAL IMPROVEMENT DISTRICT NO. 95-1
(CIOSA)
CANVASS AND STATEMENT OF RESULTS OF ELECTION
REGARDING ALTERATION OF
RATE AND METHOD OF APPORTIONMENT
I hereby certify that on October 9, 1995, I canvassed. the returns of the election held on
October 9, 1995, in the City of Newport Beach Special Improvement District No. 95-1
(CIOSA) and the total number of ballots cast in said District and the total number of votes
cast for and against the measure are as follows and the totals as shown for and against the
measure are full, true and correct:
Qualified
Landowner Votes
Votes Cast YES NO
City of Newport Beach Special
Improvement District No. 95-1
(CIOSA) Special Election, October 9,
1995. [121]
BALLOT MEASURE: Shall the rate and method of apportionment of the special tax
to be levied within the City of Newport Beach Special Improvement District No. 95-1
(CIOSA) be altered as described in the resolution of the City Council of the City of Newport
Beach, adopted October 9, 1995, entitled "A Resolution of the City Council of the City of
Newport Beach Calling Special Election Regarding Alterations To the Rate And Method of
Apportionment of Special Taxes for the City of Newport Beach Special Improvement
District No. 95-1 (CIOSA)"?
IN WITNESS WHEREOF, I HAVE HEREUNTO SET MY HAND this 9th day of
October, 1995.
By:
Wanda E. Raggio, City Clerk
3
RESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
NEWPORT BEACH OF CHANGE DETERMINING THAT
ALTERATIONS TO THE RATE AND METHOD OF
APPORTIONMENT OF SPECIAL TAX ARE LAWFULLY
AUTHORIZED AND DIRECTING RECORDING OF
AMENDMENT TO NOTICE OF SPECIAL TAX LIEN
WHEREAS, in proceedings heretofore conducted by the City Council pursuant to the
City of Newport Beach Special Improvement District Financing Code (the "Code"), the City
Council, on October 9, 1995, adopted a resolution entitled "A Resolution of the City Council
of the City of Newport Beach Calling Special Election Regarding Alterations to the Rate and
Method of Apportionment of Special Taxes for the City of Newport Beach Special
Improvement District No. 95-1 (CIOSA)" (the "Resolution Calling Election"), calling for a
special election of the qualified electors within the City of Newport Beach Special
Improvement District No. 95-1 (CIOSA) (the "District");
WHEREAS, pursuant to the terms of said Resolution, which are by this reference
incorporated herein, said special election was held on this date, and the City Clerk has on
file a Canvass and Statement of Results of Election Regarding Alteration of Rate and
Method of Apportionment, a copy of which is attached hereto as Exhibit A; and
WHEREAS, this City Council has reviewed and hereby approves said Canvass;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Newport
Beach as follows:
Section 1. The issues presented at said special election were the alterations to the rate
and method of apportionment of the special tax to be levied within the District, as described
in the Resolution Calling Election.
Section 2. Pursuant to said Canvass on file with the City Clerk, the issues presented
at said special election were approved by the qualified electors of the District by more than
two-thirds of the votes cast at said special election.
Section 3. The City Council hereby determines that the alterations to the rate and
method of apportionment of the special tax to be levied within the District, as described in
the Resolution Calling Election, are lawfully authorized.
Section 4. The City Clerk is hereby directed to execute and cause to be recorded in the
office of the County Recorder of the County of Orange an amendment to the notice of
special tax lien recorded with respect to the District, in substantially the form attached
hereto as Exhibit B, said recording to occur no later than fifteen days following adoption by
the City Council of this Resolution.
C)
Section S. It is hereby found that all prior proceedings and actions taken by the City
Council with respect to the District were valid and in conformity with the Code. /
Section 6. This Resolution shall take effect immediately upon its adoption. l
APPROVED and ADOPTED by the City Council of the City of Newport Beach on
October 9, 1995.
ATTEST:
Wanda E. Raggio, City Clerk
John W. Hedges, Mayor
EXHIBIT A
CITY OF NEWPORT BEACH
SPECIAL IMPROVEMENT DISTRICT NO. 95-1
(CIOSA)
CANVASS AND STATEMENT OF RESULTS OF ELECTION
REGARDING ALTERATION OF
RATE AND METHOD OF APPORTIONMENT
I hereby certify that on October 9, 1995, I canvassed the returns of the election held on
October 9, 1995, in the City of Newport Beach Special Improvement District No. 95-1
(CIOSA) and the total number of ballots cast in said District and the total number of votes
cast for and against the measure are as follows and the totals as shown for and against the
measure are full, true and correct:
City of Newport Beach Special
Improvement District No. 95-1
(CIOSA) Special Election, October 9,
1995.
Qualified
Landowner Votes
Votes Cast YES
[121] n X
BALLOT MEASURE: Shall the rate and method of apportionment of the special tax
to be levied within the City of Newport Beach Special Improvement District No. 95-1
(CIOSA) be altered as described in the resolution of the City Council of the City of Newport
Beach, adopted October 9, 1995, entitled "A Resolution of the City Council of the City of
Newport Beach Calling Special Election Regarding Alterations To the Rate And Method of
Apportionment of Special Taxes for the City of Newport Beach Special Improvement
District No. 95-1 (CIOSA)"?
IN WITNESS WHEREOF, I HAVE HEREUNTO SET MY HAND this 9th day of
October, 1995.
BY:
Wanda E. Raggio, City Cl r
EXHIBIT B
CITY OF NEWPORT BEACH
SPECIAL IMPROVEMENT DISTRICT NO. 95-1
(CIOSA)
SECOND AMENDMENT TO
NOTICE OF SPECIAL TAX LIEN
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"), a Notice of Special Tax Lien with respect to the City of
Newport Beach Special Improvement District No. 95-1 (CIOSA) (the "District") was recorded
in the Office of the County Recorder of the County of Orange on July _, 1995, as
Instrument No. . The original Notice of Special Tax Lien was previously
amended in connection with the amendment of the boundary map for the District in order
to exclude a parcel therefrom.
Pursuant to proceedings conducted in accordance with the Code, the rate and
method of apportionment of the special tax to be levied within the District has been altered
so as to be as specified in the Amended and Restated Rate and Method of Apportionment
for the City of Newport Beach Special Improvement District No. 95-1 (CIOSA) set forth in
Schedule I attached hereto and hereby made a part hereof. Pursuant to the requirements of
Section 3117.5 of the California Streets and Highways Code and Section 412 of the Code, the
undersigned City Clerk of the City of Newport Beach, County of Orange, State of California,
hereby gives notice of such changes. 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 Schedule I hereto.
The name of the owner and the assessor's tax parcel numbers of the real property
included within the District and not exempt from the special tax are as set forth in Schedule
II attached hereto and hereby made a part hereof.
Reference is made to the amended boundary map of the District recorded at Book _
of Maps of Assessment and Community Facilities Districts at Pages _ through ---, 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: October ,1995
:I
LA
Wanda E. Raggio, City Clerk
SCHEDULE I
AMENDED AND RESTATED
RATE AND METHOD OF APPORTION:NIENT
FOR CITY OF NEWPORT BEACH
SPECIAL IlVIPROVEMENT 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.
L 2)
r" (1—`
"CIOSA District' means Ne%�Tort Beach Sp -c al 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 of CIOS
District Improvement Fund on or before such date from (a) p s e
(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 amounts on
deposit in the CIOSA District Improvement Fund.
"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.
hereto.
"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
"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.
A-2
"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 - PCH/MacArthur" 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.
"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
A-3 14 _—j
(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
`-A �'D
A-4
(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.
A-5 `)
"Single Family Residential Property" means a'•1 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 - PCH/MacArthur, Newporter North, 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 - PCH/MacArthur
2,575,000
Newporter North
7,950,000
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
CAS
A-6
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
$ 7,200
105,350
107,572
147,911
121,830
197,855
610,900
222,300
534,786
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
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
A-7 a `1
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 Issuance of Bonds - Developed Property and Undeveloped Property: 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 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
50
A-8
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. After Issuance of Bonds - Undeveloped Property If Test Met: Subsequent to the initial
issuance of Bonds, if the aggregate amount of the Special Taxes applicable to all Developed Property
is sufficient to satisfy the Debt Service Requirement for the Bonds then outstanding in the then
current Fiscal Year and each Fiscal Year thereafter (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. Under
the circumstances 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. After Issuance of Bonds - Developed Property and Undeveloped Property If Test Not
Met: 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); provided that, in
the case of an Assessor's Parcel which is then classified as Developed Property, the
remainder referred to in the previous clause of this subparagraph shall be reduced by twenty-
three percent (23 %) of the product obtained by multiplying (iii) the Share of Zone Area for
such Assessor's Parcel times (iv) a fraction the numerator of which is the Zone Prepayment
Amount applicable to the Zone in which such Assessor's Parcel is located and the
denominator of which is the aggregate Zone Prepayment Amounts for all Zones which then
include Developed Property times (v) the amount, if any, by which the aggregate Zone
Prepayment Amounts for all Zones which then include Developed Property exceeds the
aggregate principal amount of Bonds then outstanding; and
A-9 5 1
(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, j
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.
A-10
EXHIBIT A
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 - PCH/MacArthur 442-014-28
442-272-03
442-272-04
Freeway Reservation 458-142-07
EXHIBIT A-1
240asm JHHW;GHbct gnb�
NOTICE OF PUBLIC HEARING
CITY OF NEWPORT BEACH
SPECIAL IMPROVEMENT DISTRICT NO. 95-1
(CIOSA)
Notice is hereby given that on August 28, 1995, the City Council of the City o
Newport Beach adopted a Resolution entitled "A Resolution of the City Council of the Cit;
of Newport Beach of Consideration to Alter the Rate and Method of Apportionment of ar
Existing Special Tax". Pursuant to the City of Newport Beach Special Improvement Distric
Financing Code, the City Council of the City of Newport Beach hereby gives notice a
follows:
A. The text of said Resolution of Consideration is as follows:
B. The time and place established under said Resolution of Consideration for the
public hearing required under the Code are Monday, October 9, 1995, at 7:00 p.m., in th,
regular meeting place of the City Council of the City of Newport Beach, Council Chambers
City Hall, 3300 Newport Boulevard, Newport Beach, California.
r
C. At said hearing, the testimony of all interested persons or taxpayers for or again
the proposed alterations to the rate and method of apportionment of the special tax will b
heard. Any person interested may file a protest in writing as provided in Section 410 of th
Code. If fifty percent or more of the registered voters, or six registered voters, whichever iF
more, residing within the District, or the owners of one-half or more of the area of land it
the territory included in the District and not exempt from the special tax, file writte.
protests against any proposed alteration to the rate and method of apportionment of th
special tax, and the protests are not withdrawn so as to reduce the value of the protests t,
less than a majority, those changes shall be eliminated from the Resolution c
Consideration and the changes shall not be included in a resolution of Consideration fo
period of one year from the date of the decision of the City Council on the hearing.
D. The proposed voting procedure shall be by special mail or hand -delivered ballo
to the property owners within the District.
Dated: ,1995
/s/ Wanda E Raggi�, o
City Clerk, City of Newport Beach
PETITION
TO COMMENCE PROCEEDINGS TO ALTER
RATE AND METHOD OF APPORTIONMENT
City Council
City of Newport Beach
3300 Newport Boulevard
Newport Beach, California 92659
Members of the Council:
This is a petition to commence proceedings, under the City of Newport Beach Special
Improvement District Financing Code (the "Code") to alter the rate and method of
apportionment of an existing special tax, and the undersigned hereby states as follows:
1. Petitioner. This petition is submitted by The Irvine Company ('Petitioner"),
as the owner of all of the parcels of land within the City of Newport Beach Special
Improvement District No. 95-1 (CIOSA) (the "District"). By submitting this petition,
Petitioner warrants to the City of Newport Beach (the "City") that it is the owner of such
land.
2. Proceedings Requested. Petitioner hereby requests that the City Council of the
City institute proceedings under the Code to alter the rate and method of apportionment of
the special tax previously authorized to be levied on property within the District.
3. Alterations Proposed. The proposed alterations to the previously authorized
rate and method of apportionment are incorporated into the amended and restated rate and
method of apportionment set forth in Exhibit A attached hereto and made a part hereof.
4. Election. Petitioner hereby requests that the special election to be held under
the Code to authorize the alterations to the previously authorized rate and method of
apportionment be conducted by the City and its officials using mailed or hand -delivered
ballots and that such ballots be opened and canvassed and the results certified at the same
meeting of the City Council as the public hearing on the proposed alterations required
under the Code, or as soon thereafter as possible.
5. Waivers. To expedite the completion of the proceedings for the alterations to
the previously authorized rate and method of apportionment, Petitioner hereby waives all
notices of hearings (other than published notices required under the Code) and all notices of
election, all applicable waiting periods under the Code for the election and all ballot analysis
and arguments for the election.
�J �
tioner
or receivin
es is:
6. Mailing Address. The add-ress of
Newporte1Beach f California 92660,cAttentione
Irvine Company, 550 Newport Center Drive
Vice President and General Counsel Land Development Group.
This petition is dated August 21, 1995.
The Irvine Company, ichigan
corporation
By: .v
Its: 2 gd!jvisi:cno1he Irvi a Co anyiBy:1
Its: jiszAN F s
-2-
Su
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
I, Wanda E. Raggio, City Clerk of the City of Newport Beach, California hereby certify
that the foregoing is a full, true and correct copy of a Resolution duly adopted at a regular
meeting of the City Council of said City duly and regularly held at the regular meeting place
thereof on August 28, 1995, of which meeting all of the members of said City Council had
due notice and at which a majority thereof were present; and that at said meeting said
Resolution was adopted by the following vote:
AYES: COUNCIL MEMBERS:
NOES: COUNCIL MEMBERS:
ABSENT: COUNCIL MEMBERS:
An agenda of said meeting was posted at least 72 hours before said meeting at 3300
Newport Boulevard, Newport Beach, California, a location freely accessible to members of
the public, and a brief general description of said Resolution appeared on said agenda.
I further certify that I have carefully compared the same with the original minutes of
said meeting on file and of record in my office; that the foregoing Resolution is a full, true
and correct copy of the original Resolution adopted at said meeting and entered in said
minutes; and that said Resolution has not been amended, modified or rescinded since the
date of its adoption, and the same is now in full force and effect.
Dated: ,1995
Wanda E. Raggio, City Clerk
G
r.
SCHEDULE II
CITY OF NEWPORT BEACH
SPECIAL IMPROVEMENT DISTRICT NO. 95-1
(CIOSA)
PROPERTY OWNER AND 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
442-271-19
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
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
I, Wanda E. Raggio, City Clerk of the City of Newport Beach, California hereby certify
that the foregoing is a full, true and correct copy of a Resolution duly adopted at a regular
meeting of the City Council of said City duly and regularly held at the regular meeting place
thereof on October 9, 1995, of which meeting all of the members of said City Council had
due notice and at which a majority thereof were present; and that at said meeting said
Resolution was adopted by the following vote:
AYES: COUNCIL MEMBERS:
NOES: COUNCIL MEMBERS:
ABSENT: COUNCIL MEMBERS:
An agenda of said meeting was posted at least 72 hours before said meeting at 3300
Newport Boulevard, Newport Beach, California, a location freely accessible to members of
the public, and a brief general description of said Resolution appeared on said agenda.
I further certify that I have carefully compared the same with the original minutes of
said meeting on file and of record in my office; that the foregoing Resolution is a full, true
and correct copy of the original Resolution adopted at said meeting and entered in said
minutes; and that said Resolution has not been amended, modified or rescinded since the
date of its adoption, and the same is now in full force and effect.
Dated: 1995
Wanda E. Raggio, City Clerk
24005-02 7HHW.CRbd 9125/95
RECORDING REQUESTED BY AND
AFTER RECORDATION RETURN TO:
City Clerk
City of Newport Beach
3300 Newport Boulevard
Newport Beach, CA 92663
SECOND AMENDMENT TO
NOTICE OF SPECIAL TAX LIEN
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"), a Notice of Special Tax Lien with respect to the City of
Newport Beach Special Improvement District No. 95-1 (CIOSA) (the "District") was recorded
in the Office of the County Recorder of the County of Orange on July _, 1995, as
Instrument No. . The original Notice of Special Tax Lien was previously
amended in connection with the amendment of the boundary map for the District in order
to exclude a parcel therefrom.
Pursuant to proceedings conducted in accordance with the Code, the rate and
method of apportionment of the special tax to be levied within the District has been altered
so as to be as specified in the Amended and Restated Rate and Method of Apportionment
for the City of Newport Beach Special Improvement District No. 95-1 (CIOSA) set forth in
Schedule I attached hereto and hereby made a part hereof. Pursuant to the requirements of
Section 3117.5 of the California Streets and Highways Code and Section 412 of the Code, the
undersigned City Clerk of the City of Newport Beach, County of Orange, State of California,
hereby gives notice of such changes. 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 Schedule I hereto.
The name of the owner and the assessor's tax parcel numbers of the real property
included within the District and not exempt from the special tax are as set forth in Schedule
II attached hereto and hereby made a part hereof.
Reference is made to the amended boundary map of the District recorded at Book _
of Maps of Assessment and Community Facilities Districts at Pages _ through --, 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.
U0
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: October _,1995
2
Wanda E. Raggio, City Clerk
SCHEDULE I
CITY OF NEWPORT BEACH
SPECIAL IMPROVEMENT DISTRICT NO. 95-1
(CIOSA)
AMENDED AND RESTATED
RATE AND METHOD OF APPORTIONMENT OF SPECIAL TAX
C
I-1
SCHEDULE II
CITY OF NEWPORT BEACH
SPECIAL IMPROVEMENT DISTRICT NO. 95-1
(CIOSA)
PROPERTY OWNER AND 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
442-271-19
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
r-,
ORDINANCE NO.
ORDINANCE OF THE CITY OF NEWPORT BEACH LEVYING
SPECIAL TAXES WITHIN THE CITY OF NEWPORT BEACH
SPECIAL IMPROVEMENT DISTRICT NO. 95-1 (CIOSA)
WHEREAS, on May 8, 1995, the City Council 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" (the
"Resolution of Intention") stating its intention to establish the City of Newport Beach
Special Improvement District No. 95-1 (CIOSA) (the "District"), pursuant to the City of
Newport Beach Special Improvement District Financing Code (the "Code"), to finance
certain facilities (the "Facilities");
WHEREAS, notice was published as required by the Code relative to the intention of
this City Council to form the District and to provide for the Facilities;
WHEREAS, the City Council has held a noticed public hearing as required by the
Code relative to the determination to proceed with the formation of the District and the rate
and method of apportionment of the special tax to be levied within the District to finance a
portion of the costs of the Facilities;
WHEREAS, at said hearing all persons desiring to be heard on all matters pertaining
to the formation of the District and the levy of said special taxes were heard, substantial
evidence was presented and considered by the City Council and a full and fair hearing was
held;
WHEREAS, subsequent to said hearing, the City Council adopted resolutions
entitled "A Resolution of the City Council of the City of Newport Beach of Formation of the
City of Newport Beach Special Improvement District No. 95-1 (CIOSA), Authorizing the
Levy of a Special Tax Within the District and Preliminarily Establishing an Appropriations
Limit for the District" (the 'Resolution of Formation"), "A Resolution of the City Council
of the City of Newport Beach Determining the Necessity to Incur Bonded Indebtedness
Within the City of Newport Beach Special Improvement District No. 95-1 (CIOSA)" and "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)", which resolutions
established the District, authorized the levy of a special tax with the District, and called an
election within the District on the proposition of incurring indebtedness, levying a special
tax, and establishing an appropriations limit within the District, respectively;
WHEREAS, an election was held within the District in which the eligible landowner
electors approved said propositions by more than the two-thirds vote required by the Code;
WHEREAS, subsequent to said election, the City Council adopted resolutions
entitled "A Resolution of the City Council of the City of Newport Beach of Consideration
To Alter the Rate And Method of Apportionment of an Existing Special Tax" and "A
Resolution of the City Council of the City of Newport Beach Calling Special Election
Regarding Alterations to the Rate and Method of Apportionment of Special Taxes for the
City of Newport Beach Special Improvement District No. 95-1 (CIOSA)" (the "Resolution
Regarding Alterations"), proposing to alter the rate and method of apportionment of the
special tax for the District and calling for a special election of the qualified electors within
the District; and
WHEREAS, an election was held within the District in which the eligible landowner
electors approved by more than the two-thirds vote required by the Code the proposition to
alter the rate and method of apportionment of the special tax to be levied in the District;
THE CITY COUNCIL OF THE CITY OF NEWPORT BEACH ORDAIN AS FOLLOWS:
Section 1. By the passage of this Ordinance the City Council hereby authorizes and
levies special taxes within the District pursuant to Sections 319 and 601 of the Code, at the
rate and in accordance with the method of apportionment set forth in Exhibit A to the
Resolution Regarding Alterations (the "Amended and Restated Rate and Method of
Apportionment"). The special taxes are hereby levied commencing in fiscal year 1995-96
and in each fiscal year thereafter until the earlier of (i) the date on which the CIOSA District
Improvement Fund Requirement (as defined in the Amended and Restated Rate and
Method of Apportionment) has been reduced to zero and there are no bonds of the City
issued for the District (the 'Bonds") outstanding, or (iii) the fiscal year ending June 30, 2036.
Section 2. The Finance Director of the City is hereby authorized and directed each
fiscal year to determine the specific special tax rate and amount to be levied for the next
ensuing fiscal year for each parcel of real property within the District, in the manner and as
provided in the Amended and Restated Rate and Method of Apportionment.
Section 3. Properties or entities of the State, federal or local governments shall be
exempt from any levy of the special taxes, to the extent set forth in the Amended and
Restated Rate and Method of Apportionment. In no event shall the special taxes be levied
on any parcel within the District in excess of the maximum tax specified in the Amended
and Restated Rate and Method of Apportionment.
Section 4. All of the collections of the special tax shall be used as provided for in the
Code, the Amended and Restated Rate and Method of Apportionment and the Resolution
of Formation including, but not limited to, the payment of principal of and interest on the
Bonds, the payment of the costs of the Facilities, the replenishment of the reserve fund for
the Bonds, the payment of the costs of the City in administering the District and the costs of
collecting and administering the special tax.
Section 5. The special taxes shall be collected from time to time as necessary to meet
the financial obligations of the District on the secured real property tax roll in the same
manner as ordinary ad valorem taxes are collected. The special taxes shall have the same
lien priority, and be subject to the same penalties and the same procedure and sale in cases
of delinquency as provided for ad valorem taxes. In addition, the provisions of Section 713
of the Code shall apply to delinquent special tax payments. The Finance Director of the City
�_�
-2-
is hereby authorized and directed to provide all necessary information to the auditor/tax
collector of the County of Orange and to otherwise take all actions necessary in order to
effect proper billing and collection of the special tax, so that the special tax shall be levied
and collected in sufficient amounts and at the times necessary to satisfy the financial
obligations of the District in each fiscal year.
Notwithstanding the foregoing, the Finance Director of the City may collect one or
more installments of the special taxes by means of direct billing by the City of the property
owners within the District if, in the judgment of the Finance Director, such means of
collection will reduce the administrative burden on the City in administering the District or
is otherwise appropriate in the circumstances. In such event, the special taxes shall become
delinquent if not paid when due as set forth in any such respective billing to the property
owners.
Section 6. If for any reason any portion of this Ordinance is found to be invalid, or if
the special tax is found inapplicable to any particular parcel within the District, by a court of
competent jurisdiction, the balance of this Ordinance and the application of the special tax
to the remaining parcels within the District shall not be affected.
Section 7. This Ordinance shall be in full force and effect from and after the date of its
adoption.
Attest:
Wanda E. Raggio, City Clerk
-3-
John W. Hedges, Mayor
G (0
I, the undersigned, hereby certify that the foregoing Ordinance was duly and regularly
adopted and passed by the City Council of the City of Newport Beach in regular meeting
assembled on the day of ,1995 by the following vote to wit:
AYE:
NOES:
ABSENT:
ABSTENTION:
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of said
City this day of . 1995.
Wanda E. Raggio, City Clerk
-4-
0
2400502
JHHW:GH
AGREEMENT
FOR
BOND COUNSEL SERVICES
r
THIS AGREEMENT is made and entered into as of ,1995, by and between
the City of Newport Beach (the "City") and Jones Hall Hill & White, A Professional Law
Corporation ("Counsel').
RECITALS
WHEREAS, the owners of certain real property within the City have submitted a
petition to the City requesting the City to take proceedings pursuant to the City of Newport
Beach Special Improvement District Financing Code to establish a special improvement
district (the "District") in order to finance certain facilities (the "Facilities");
WHEREAS, the City is desirous of causing the financing of the Facilities through the
issuance of one or more series of special tax bonds (the 'Bonds") payable from special taxes
to be levied in the District;
WHEREAS, the City desires to employ Counsel to provide legal services incident to
the formation of the District and the issuance and sale of the Bonds for the purpose of
financing the Facilities; and
WHEREAS, Counsel is prepared and able to provide all legal services required and
necessary incident to the formation of the District and the authorization, issuance, sale and
delivery of the Bonds, as more fully described below;
NOW, THEREFORE, it is mutually agreed by the parties hereto as follows:
Section 1. Agreement for Services. The City employs Counsel to render, and
Counsel agrees to render, legal services incident to the formation of the District and the
authorization, issuance and sale of the Bonds as follows:
a. Consultation with appropriate representatives of the City, the City Attorney,
consultants to the City, the underwriter, underwriter's counsel and the owners of property
within the District and their counsel concerning the formation of the District, the proposed
financing and its timing, terms and structure, and including the rendering of legal advice
with respect to the proceedings deemed necessary or desirable to comply with all
requirements of law preliminary to the formation of the District and the authorization,
issuance and sale of each series of Bonds.
b. Preparation of all legal proceedings for the formation of the District and the
authorization, issuance and sale of each series of Bonds, including preparation and/or
review of all proceedings undertaken to form the District, preparation of a fiscal agent
agreement, and any supplemental agreements, providing for the issuance of each series of
Bonds, and preparation of all other proceedings incidental to or in connection with the
G13
authorization, issuance and sale of each series of Bonds, including examination of other
appropriate contracts or commitments of the City .
c. Attendance at such meetings of the City as shall be deemed necessary for the
proper conduct of the proceedings.
d. Review, as to those matters that are related to the formation of the District and
the authorization, issuance and sale of each series of Bonds, of the official statement
describing the District and each series of Bonds to be prepared by the underwriter of such
series of Bonds and its counsel, and participation in meetings reviewing such official
statement; but Counsel shall not be responsible for the preparation or the content of such
official statement.
e. Assistance, if requested, in connection with securing investment ratings and/or
insurance for a series of Bonds, including attendance at and participation in meetings with
representatives of rating agencies or insurance companies, if requested.
f. Examination of proofs of the Bonds, preparation of the final closing papers
required to effect the delivery of each series of Bonds and organization of and attendance at
the bond closings.
g. The rendering of a final approving legal opinion on the validity of each series of
Bonds and the tax-exempt status of interest thereon, and the rendering of such other legal
opinions as may be appropriate in connection with the delivery of each series of Bonds.
h. Such other legal services as may be incidental to the foregoing.
Notwithstanding the foregoing, services to be rendered hereunder shall not include
services in connection with any litigation involving the City or the District or the financing
proceedings relating to the Bonds. For such services which Counsel is directed to render,
compensation shall be on the basis of reasonable fees to be agreed upon by the City and
Counsel.
Section 2. Legal Fees. For the services described in Section 1 in connection with the
formation of the District and the authorization, issuance and sale of the initial series of
Bonds, Counsel shall be paid a fee based on the following schedule:
2% of the first $1,000,000 principal amount of Bonds, plus
1% of the next $4,000,000 principal amount of Bonds, plus
1/2% of the next $10,000,000 principal amount of Bonds, plus
1/8% of the principal amount of Bonds in excess of $15,000,000.
For the services described in Section 1 in connection with the authorization,
issuance and sale of each subsequent series of Bonds, Counsel shall be paid a fee based on
the following schedule:
1% of the first $4,000,000 principal amount of Bonds, plus
1/2% of the next $6,000,000 principal amount of Bonds, plus
1/8% of the principal amount of Bonds in excess of $10,000,000.
-2-
The foregoing fee for each series of Bonds is contingent upon the issuance and sale of
the Bonds of such series and shall be paid form the proceeds of the sale of the Bonds of such
series within a reasonable time after the sale and delivery thereof.
Section 3. Costs. In addition to the fee described in Section 2, Counsel shall be
reimbursed for out-of-pocket expenses incurred in connection with the issuance of each
series of Bonds, including shipping, delivery and courier service, photocopying and official
transcript duplication, and travel outside of the State of California, if requested.
The foregoing costs for each series of Bonds are contingent upon the sale and
delivery of the Bonds of such series and shall be paid from the proceeds of the sale of the
Bonds of such series within a reasonable time after sale and delivery thereof.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the
date first above written.
CITY OF NEWPORT BEACH
Director of Finance
JONES HALL HILL & WHITE,
A PROFESSIONAL LAW
CORPORATION
By:
Vice President
-3-
% ,7
CITY OF NEWPORT BEACH
SPECIAL IMPROVEMENT DISTRICT NO. 95-1
(CIOSA)
OFFICIAL BALLOT
SPECIAL ELECTION REGARDING ALTERATION OF
RATE AND METHOD OF APPORTIONMENT
(OCTOBER 9,1995)
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 8:00 p.m. on October 9, 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 8:00
p.m. on October 9, 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 rate and method of
apportionment of the special tax to be levied within the City of
Newport Beach Special Improvement District No. 95-1
(CIOSA) be altered as described in the resolution of the City
Council of the City of Newport Beach, adopted October 9, 1995,
entitled "A Resolution of the City Council of the City of Yes:
Newport Beach Calling Special Election Regarding Alterations
To the Rate And Method of Apportionment of Special Taxes
for the City of Newport Beach Special Improvement District No:
No. 95-1 (CIOSA)"?
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: 124
Property Owner: The Irvine Company
The Irvine Com an , a Michigan
corporation
By.
ItS: BERNARD A. mANISCALCO
A"fle�'arl-ek"A
division of The Iie mpany
By: - C. L-,
Its: THOAAAR SAKAI
ASSISTA,NIT SECRETARY �?
APP
c
T+
r
_\ y.
Authorized to Publish Advertisements of all kinds 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 )
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:
September 18, 1995
I declare, under penalty of perjury, that the
foregoing is true and correct.
Executed on September 18 199 5
at Costa Mesa, California.
Signature
of Newport Beach Deter-
mining the Necessity to
Incur Bonded Indebted-
"Allu NOT)b ness Within the City of
Newport Beach Special im-
NOTICE OF provement District No. 95.1
PUBLIC HEARING (CIOSA)" and "A Resolu-
CITY OF NEWPORT tion of the City Council of
BEACH SPECIAL the City of Newport Beach
IMPROVEMENT Calling Special Election for
the City of Newport Beach
DISTRICT NO. 95.1 Special Improvement Dis-
(CIOSA) trict No, 95.1 (CIOSA)",
Notice is hereby given which resolutions estab-
that on August 28, 1995, lished the District, autho-
the City Council of the City rized the levy of a special
of Newport Beach adopted tax within the District and
a Resolution entitled "A called an election within
Resolution of the City the District on the proposi-
Council of the City of New- tion of incurring Indebted.
port Beach of Consider- ness, levying a special tax,
ation to Alter the Rate and and eslablishing an ap-
Method of Apportionment propriations limit within the
of an Existing Special Tax". District, respectively;
Pursuant to the City of WHEREAS, an election
Newport Beach Special Im- was held within the District
provement District Financ- in which the eligible land-
ing Code, the City Council owner electors approved
of the City of Newport said propositions by more
Beach hereby gives notice than the two-thirds vote ye-
as follows: quired by the Code;
A. The text of said Resolu- WHEREAS, the City Clerk
tion of Consideration is as of the City has received a
follows: written petition (the "Peti-
WHEREAS, on May 8, tion") from the owners of
1995, the City Council not less than 25% of the
adopted a resolution en- area of the territory within
titled "A Resolution of the the District requesting that
City Council of the City of proceedings be com-
Newport Beach Declaring menced to alter the rate
Intention to Establish a and method of apportion.
Special Improvement Dis- ment of the special tax au.
trict and to Authorize the thorized to be levied within
Levy of Special Taxes" the District; and
stating its intention to es- WHEREAS, the City Coun
tablish the City of Newport cil desires to acknowledge
Beach Special Im- receipt of the Petition and
provement District No. 95.1 to commence proceedings
(CIOSA) (the "District') to alter the rate and
pursuant to the City of method of apportionment
Newport Beach Special Im. of the special tax autho-
provement District Financ- rized to be levied within the
ing Code (the "Code"), to District;
finance certain facilities NOW, THEREFORE, BE IT
(the "Facilities"); RESOLVED by the City
WHEREAS, notice was Council of the City of New -
published as required by port Beach as follows:
the Code relative to the in- Section 1. Receipt by the
tention of the City Council City Council of the Petition
to form the District and to is hereby acknowledged.
provide for the Facilities; Section 2. The City Coun-
WHEREAS, the City Coun- cil hereby finds and deter.
cil has held a noticed pub- mines that public conve-
lic hearing as required by nience and necessity re -
the Code relative to the de- quire that the rate and
termination to proceed with method of apportionment
the formation of the District of the special tax autho-
and the rate and method of rized to be levied within the
apportionment of the spe- District be altered.
cial tax to be levied within Section 3. The name of
the District to finance a the District is "City of New -
portion of the costs of the port Beach Special Im-
Facilities; provement District No. 95-1
WHEREAS, at said hear- (CIOSA)".
ing all persons desiring to Section 4. The boundaries
be heard on all matters of the District are shown on
pertaining to the formation the map of the District re -
of the District and the levy corded at Book 68 of Maps
of said special taxes were of Assessment and Com -
heard, substantial evidence munity Facilities Districts at
was presented and consid- Pages 26 through 35, in
ered by the City Council the office of the County Re.
and a full and fair hearing corder for the
Orange,
of
was held; Orange, State of California,
WHEREAS, subsequent to which map is the final
said hearing, the City boundary map of the Dis-
Council adopted resolu. trict.
tions entitled "A Resolution Section 5. The rate and
of the City Council of the method of apportionment l
City of Newport Beach of of the special tax among
Formation of the City of the parcels.of real property
Newport Beach Special Im. within the District is pro.
provement District No. 95.1 posed to be amended and
(CIOS'A), Authorizing the restated as set forth in Ex.
Levy of a Special Tax hibit A attached hereto and
Within the District and Pre- by this reference incorpo-
liminarily Establishing an ratad herein. The condi.
Appropriations Limit for the tions under which the obli-
District', "A Resolution of crstion to pay the specified
the City Council of the City, ipecial tax may be prepaid
and permanently satisfied
are specified in said Exhibit
A. Such amended and re-
stated rate and method of
,apportionment Is in suf-
ficient detail to allow each
landowner within the Dis-
trict to estimate the maxi-
mum amount such owner
�(
they, or any of them, ma}
deem necessary or desin
able to accomplish the pur•
poses of this Resolutior
and not inconsistent will-
the
iththe provisions hereof.
Section 9. This Resolutior
shall take effect im•
mediately upon its adop•
tion.
B. The exhibit to the Res.
olution which describes the
alterations to the rate and
method of apportionment
of the special tax for the
District is on file in the of-
fice of the City Clerk.
C. The time and place es-
tablished under said Reso-
lution of Consideration for
the public hearing required
under the Code are Mon-
day, October 9, 1995, at
7:00 p.m., in the regular
meeting place of the City
Council of the City of New-
port Beach, Council Cham-
bers, City Hall, 3300 New-
port Boulevard, Newport
Beach, California.
D. At said hearing, the
testimony of all interested
persons or taxpayers for or
against the proposed alter-
ations to the rate and
method of apportionment
of the special tax will be
heard. Any person inter-
ested may file a protest in
writing as provided in Sec-
tion 410 of the Code. If fifty
percent or more of the reg-
istered voters, or six reg-
istered voters, whichever is
more, residing within the
District, or the owners of
one-half or more of the
area of land in the territory
included in the District and
not exempt from the spe-
cial tax, file written protests
against any proposed alter-
ation to the rate and
method of apportionment
of the special tax, and the
protests are not withdrawn
so as to reduce the value
of the protests to less than
a majority, those changes
shall be eliminated from
the Resolution of Consider-
ation and the changes shall
not be included in a resolu-
tion of Consideration for
period of one year from the
date of the decision of the
City Council on the hear-
�nE The proposed voting
procedure shall be by spe-
cial mail or hand -delivered
ballot to the property own-
ers within the District.
Dated: 9-11, 1995
/s/Wanda E. Ragglo,
City Clerk, City of New-
port Beach
Published Newport
Beach -Costa Mesa Daily
Pilot September 18, 1995
M958
will have to pay. The City'
Council hereby finds and
determines that the pro-
posed alterations to the
rate and method of ap-
portionment, as incorpo-
rated in said amended and
restated rate and method
of apportionment, will not
Interfere with the timely re-
tirement of any debt in-
curred with respect to the
District.
Section 6. Monday, Octo-
ber 9, 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
alterations to the rate and
method of apportionment
of the special tax.
Section 7. 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 published in the area
of the District. The publica-
tion of said notice shall be
completed at least seven
days before the date herein
set for said hearing. Said
notice shall contain the in.,
formation prescribed by
Section 410 of the Code.
Section 8. The officers
and employees of the City
are hereby authorized and
directed to take all actions,
and do all things which