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HomeMy WebLinkAbout08-22-1994 Item #31TO: FROM: SUBJ: Background: CITY OF NEWPORT BEACH OFFICE OF THE CITY ATTORNEY August 3, 1994 Mayor Clarence Turner Members of City Council Kevin Murphy Robert H. Burnham CIOSA Implementation ordinance Agenda # -13- 3/ E?v THE CITY CG ' CITv OF NEWPOR i t AUG Rt 6Y /�'�� CITY Vt T 6EACH LAI 1G, ? ? 1P194 On July 11th, the City Council reviewed and considered a proposed enabling ordinance that would authorize the Council to create special improvement districts to facilitate implementation of CIOSA. The enabling ordinance simply establishes the procedure the Council would follow if and when it decides to establish a Special Improvement District. The Council debated the pros and cons of adopting an ordinance limited to the CIOSA properties and related improvements as opposed to an ordinance which would enable the Council to establish special districts to finance improvements and supplemental municipal services throughout the City. The ordinance which gives the Council the broadest powers is attached as "Exhibit A." The amendments to the proposed ordinance which would limit the Council's power to the CIOSA properties and related improvements are contained in "Exhibit B." Discussion: The primary advantage of adopting an ordinance authorizing district financing of a wide range of services or improvements is the ability to respond to the special needs or desires of a particular segment of the community. For example, the Council could use special district financing to provide additional refuse or police services, make area wide improvements requested by residents, and make it economically feasible to annex areas within our sphere of influence, such as Santa Ana Heights, which require significant infrastructure improvements before incorporation would be revenue neutral. The primary advantages of the ordinance which confers more limited powers is the limited number of requests the Council will receive for establishing districts (which minimizes staff time and involvement) and the direct relationship between the districts and CIOSA. In either case, special financing districts are established only after a lengthy process involving the right to submit written protests and ultimately a vote of the property owners or registered voters. The protections and procedures are outlined in Article III. The proceedings are initiated by the adoption of a resolution of intention to form the District which is followed by published and/or mailed notice of a hearing to consider formation that is given to all of the property owners within the boundaries of the proposed district A majority protest of formation would terminate the proceedings at that time. Even if the resolution of formation is approved, the special tax and bonds for the district are not authorized unless two thirds (2/3) of the property owners or registered voters approve them. Staff recommends the City Council introduce, and pass to second reading, an ordinance creating a special district financing Code. Rq ert H. Burnham RHB : gj b City Attorney CIOSAMCC.808 24005-02 JHHW:GH:bct JL_A X H 1 B 1 T ORDINANCE NO. Agenda #+3-- 6i1/54 ORDINANCE OF THE CITY OF NEWPORT BEACH AMENDING THE NEWPORT BEACH MUNICIPAL CODE BY ADDING CHAPTER — THERETO PROVIDING FOR THE CITY OF NEWPORT BEACH SPECIAL IMPROVEMENT DISTRICT FINANCING CODE, INCLUDING GENERAL PROVISIONS AND DEFINITIONS, POWERS AND PROCEDURES TO ISSUE SPECIAL TAX BONDS FOR THE PURPOSE OF PROVIDING FINANCING FOR SPECIFIED PURPOSES, AND CERTAIN OTHER SUPPLEMENTAL PROVISIONS THE CITY COUNCIL OF THE CITY OF NEWPORT BEACH ORDAIN AS FOLLOWS: Section 1. Recitals. The City Council of the City of Newport Beach does hereby find, determine and declare that: (a) the City of Newport Beach (the "City") is a municipal corporation and charter city duly organized and existing under a charter pursuant to which the City has the right and power to make and enforce all laws and regulations in respect to municipal affairs and certain other matters in accordance with and as more particularly provided in Sections 3, 5 and 7 of Article Xl of the Constitution of the State of California and Article II of the Charter of the City (the "Charter"); and (b) the City Council of the City acting under and pursuant to the powers reserved to the City under Sections 3, 5 and 7 of Article XI of the Constitution of the State of California and Article 11 of the Charter, finds that the public interest and necessity require the establishment by this procedural ordinance of a procedure for the authorization of the levy of special taxes and the issuance of special tax bonds by the City for the purpose of providing financing or refinancing for certain purposes as specified herein. Section 2. That the Newport Beach Municipal Code is hereby amended by adding a chapter thereto, to be numbered which said chapter reads as follows: CHAPTER _ CITY OF NEWPORT BEACH SPECIAL IMPROVEMENT DISTRICT FINANCING CODE ARTICLE I DEFINITIONS Section 101. Definitions. Unless the context otherwise requires, the definitions contained in this article shall govern the construction of this Code. (a) "City" means the City of Newport Beach, California. (b) "Clerk" means the City Clerk of the City. (c) "Cost" means the expense of constructing or purchasing the public facility and of related land, right-of-way, easements, including incidental expenses, and the cost of providing authorized services, including incidental expenses. (d) "Debt" means any binding obligation to pay or repay a sum of money, including obligations in the form of bonds, certificates of participation, long-term leases, loans from government agencies, or loans from banks, other financial institutions, private businesses, or individuals, or long-term contracts. (e) "Incidental expense" includes all of the following: (1) The cost of planning and designing public facilities to be financed pursuant to this Code, including the cost of environmental evaluations of those facilities. (2) The costs associated with the creation of the special improvement district, issuance of bonds, determination of the amount of taxes, collection of taxes, payment of taxes, or costs otherwise incurred in order to carry out the authorized purposes of the special improvement district. (3) Any other expenses incidental to the construction, completion, and inspection of the authorized work. (f) "Landowner" or "owner of land" means any person shown as the owner of land on the last equalized assessment roll or otherwise known to be the owner of the land by the City. The City Council has no obligation to obtain other information as to the ownership of the land, and its determination of ownership shall be final -2- and conclusive for the purposes of this Code. A public agency is not a landowner or owner of land for purposes of this Code. (g) "Legislative body" means the legislative body or governing board of any local agency.. (h) "Local agency" means any city or county, whether general law or chartered, special district, school district, joint powers entity created pursuant to Chapter 5 (commencing with Section 6500) of Division 7 of Title l of the California Government Code, or any other municipal corporation, district, or political subdivision of the state. (i) "Rate" means a single rate of tax br a schedule of rates. (j) "Services" means the provision of police and fire protection services, recreation programs, library services, operation and maintenance of museums and cultural facilities, the operation and maintenance of parks and parkways, and the provision of flood and storm protection services, including, but not limited to, the operation and maintenance of storm drainage systems. "Services" includes the performance by employees of functions, operations, maintenance, and repair activities. (k) "Special improvement district" means a legally constituted governmental entity established pursuant to this Code for the sole purpose of financing facilities and services. ARTICLE II GENERAL PROVISIONS Section 201. Short Title. This ordinance shall be known and may be cited as the "City of Newport Beach Special Improvement District Financing Code", and shall be referred to herein as the "Code". Section 202. Municipal and State affairs; authority conferred by Code; applicability of laws. This Code is adopted pursuant to Section 200 of the Charter of the City of Newport Beach. In proceedings had pursuant to this Code which are a municipal affair, any general laws referred to in this Code are deemed a part of this Code. In the event that any proceeding had pursuant to this Code shall be adjudged a state affair, it is declared to be the intention that the proceedings were had pursuant to any applicable general law or laws. This Code provides an alternative method of financing certain public capital facilities and services. The provisions of this Code shall not affect or limit any other -3- provisions of law authorizing or providing for the furnishing of governmental facilities or services or the raising of revenue for these purposes. The City may use the provisions of this Code instead of any other method of financing part or all of the cost of providing the authorized kinds of capital facilities and services. Section 203. Conflicting provisions; severability. Any provision in this Code which conflicts with any general law or act shall prevail over the other such provision in connection with any proceedings taken pursuant to this Code.. In the event any portion of this Code shall be declared illegal, unenforceable or unconstitutional, such provision shall be deemed severable from the rest of the provisions of this Code. Section 204. Actions or determinations by local agency. The City Council may take any actions or make any determinations which it determines are necessary or convenient to carry out the purposes of this Code and which are not otherwise prohibited by law. j Section 205. Establishment of special improvement district to finance certain additional services. A special improvement district may be established under this Code to finance any one or more of the following types of services within an area: (a) Police protection services, including, but not limited to, criminal justice services. However, criminal justice services* shall be limited to providing services for jails, detention facilities, and juvenile halls. (b) Fire protection and suppression services, and ambulance and paramedic services. (c) Recreation program services, library services and the operation and maintenance of museums and cultural facilities. (d) Maintenance of parks, parkways, and open space. (e) Flood and storm protection services, including, but not limited to, the operation and maintenance of storm drainage systems, and sandstorm protection systems. (f) Services with respect to removal or remedial action for the cleanup of any hazardous substance released or threatened to be released into the environment. As used in this subdivision, the terms "remedial action" and "removal" shall have the meanings set forth in Sections 25322 and 25323, respectively, of the California Health and Safety Code, and the term "hazardous substance" shall have the meaning set forth in Section 25281 of the California. Health and Safety Code. Special improvement districts shall provide the State Department of Health Services and local health and building departments with notification of any cleanup activity pursuant to this subdivision at least 30 days prior to commencement of the activity. (g) Any other municipal service which the City is authorized by law to provide. -4- Section 206. Additional financing powers of district; purchase, construction, expansion, improvement, rehabilitation, or planning and design work of real or tangible property A special improvement district may also finance the purchase, construction, expansion, improvement, or rehabilitation of any real or other tangible property with an estimated useful life of three years or longer or may finance planning and design work that is directly related to the purchase, construction, expansion, or rehabilitation of any real or tangible property. The facilities need not be physically located within the district. A district may finance the purchase of facilities whose construction has been completed before or after the adoption of the resolution of formation to establish the district is adopted if the facility is or was constructed pursuant to plans approved by the City, and the facility is inspected by the City and found to be in compliance with applicable City building codes and standards. For example, a special improvement district may finance facilities, including, but not limited to, the following: (a) Local park, recreation, parkway, and open -space facilities. (b) Libraries. (c) Child care facilities, including costs of insuring the facilities against loss, liability insurance in connection with the. operation of the facility and other insurance costs relating to the operation of the facilities, but excluding all other operational costs. However, the proceeds of bonds issued pursuant to this Code shall not be used to pay these insurance costs. (d) The district may also finance the construction or undergrounding of water transmission and distribution facilities, natural gas pipeline facilities, telephone lines, facilities for the transmission or distribution of electrical energy, and cable television lines. The district may enter into an agreement with a public utility to utilize those facilities to provide a particular service and for the conveyance of those facilities to the public utility. "Public utility" shall include all utilities, whether public and regulated by the Public Utilities Commission, or municipal. if the facilities are conveyed to the public utility, the agreement shall provide that the cost or a portion of the cost of the facilities that are the responsibility of the utility shall be refunded by the public utility to the district or improvement area thereof, to the extent that refunds are applicable pursuant to (1) the Public Utilities Code or rules of the Public Utilities Commission, as to utilities regulated by the commission, or (2) other laws regulating public utilities. Any reimbursement made to the district shall be utilized to reduce or minimize the special tax levied within the district or improvement area, or to construct or acquire additional facilities within the district or improvement area, as specified in the resolution of formation. (e) The district may also finance the acquisition, improvement, rehabilitation, or maintenance or any real or other tangible property, whether privately or publicly owned, for the purposes described in subdivision (e) of Section 205. (f) The district may also pay in full all amounts necessary to eliminate any fixed special assessment liens or to pay, repay, or defease any obligation to pay or any -5- indebtedness secured by any tax, fee, charge, or assessment levied within the area of a special improvement district or may pay debt service on that indebtedness. In addition, tax revenues of a district may be used to make lease or debt service payments on any lease, lease -purchase contract, or certificate of participation used to finance authorized district facilities. (g) Any other governmental facilities which the City is authorized by law to contribute revenue to, or construct, own, or operate. (h) (1) A district may also pay for the following: (A) Work deemed necessary to bring buildings or real property, including privately owned buildings or real property, into compliance with seismic safety standards or regulations. No project involving the dismantling of an existing building and its replacement by a new building, nor the construction of a new or substantially new building may be financed pursuant to this subparagraph. Work on qualified historical buildings or structures shall be done in accordance with the State Historical Building Code (Part 2.7 (commencing with Section 18950) of Division 13 of the California Health and Safety Code). (B) In addition, within any county or area designated by the President of the United States or by the Governor as a disaster area or for which the Governor has proclaimed the existence of a state of emergency because of earthquake damage, a district may also pay for any work deemed necessary to repair any damage to real property directly or indirectly caused by the occurrence of an earthquake cited in the President's or the Governor's designation or proclamation, or by aftershocks associated with that earthquake, including work to reconstruct, repair, shore up, or replace any building damaged or destroyed by the earthquake. Work may be financed pursuant to this subparagraph only on property or buildings identified in a resolution of intention to establish a special improvement district adopted within seven years of the date on which the county or area is designated as a disaster area by the President or by the Governor or on which the Governor proclaims for the area the existence of a state of emergency. (2) Work on privately owned property, including reconstruction or replacement of privately owned buildings pursuant to subparagraph (B) of paragraph (1), may be financed by a tax levy only if all of the votes cast on the question of levying the tax, vote in favor of levying the tax, or with the prior written consent to the tax of the owners of all property which may be subject to the tax, in which case the prior written consent shall be deemed to constitute a vote in favor of the tax and any associated bond issue. Any district created to finance seismic safety work on privately owned buildings, including repair, reconstruction or replacement of privately owned buildings pursuant to this subdivision, shall consist only of lots or parcels on which the City Council finds that the buildings to be worked on, repaired, reconstructed, or replaced, pursuant to this subdivision, are located or were located before s-12 being damaged or destroyed by the earthquake cited pursuant to subparagraph (B) of paragraph (1) or by the aftershocks of that earthquake. (i) A district may also pay for the following: (1) Work deemed necessary to repair and abate damage caused to privately owned buildings and structures by soil deterioration. "Soil deterioration means a chemical reaction by soils that causes structural damage or defects in construction materials including concrete, steel, and ductile or cast iron. No project involving the dismantling of an existing building or structure and its replacement by a new building or structure, nor the construction of a new or substantially new building or structure may be financed pursuant to this subparagraph. (2) Work on privately owned buildings and structures pursuant to this subdivision, including reconstruction, repair, and abatement of damage caused by soil deterioration, may only be financed by a tax levy if all of the votes cast on the question of levying the tax vote in favor of levying the tax. Any district created to finance the work on privately owned buildings or structures, including reconstruction, repair, and abatement of damage caused by soil deterioration, shall consist only of lots or parcels on which the City Council finds that the buildings or structures to be worked on pursuant to this subdivision suffer from soil deterioration. Section 207. Adjustments in ad valorem property taxes; findings. The City Council may provide for adjustments in ad valorem property taxes pursuant to Section 208 within a special improvement district only after making both of the following findings at the conclusion of the public hearing held pursuant to Article III: (a) That an ad valorem property tax is levied on property within a proposed special improvement district for the exclusive purpose of making lease payments or paying principal or interest on bonds or other indebtedness incurred to finance construction of capital facilities. (b) That capital facilities to be financed by the special improvement district will provide the same services to the territory of the special improvement district as were provided by the capital facilities mentioned in subdivision (a). Section 208. Increase in total annual amount of ad valorem property tax revenue due from parcels within proposed district. (a) Upon making the findings pursuant to Section 207, the City Council may, with the concurrence of the legislative body which levied the property tax described in subdivision (a) of Section 207, by ordinance, determine that the total annual amount of ad valorem property tax revenue due from parcels within the proposed special improvement district, for purposes of paying principal and interest on the debt identified in Section 207, shall not be increased after the date on which the resolution of formation for the special improvement district is adopted, or after a later date determined by the City Council with the concurrence of the legislative body which levied the property tax in question. -7- (b) The City Council may, by ordinance, with the concurrence of the legislative body that levied the property tax described in subdivision (a) of Section 207, determine to cease and eliminate the freeze on property tax revenue established pursuant to subdivision (a), upon determining that the special improvement district's special tax or portion thereof levied on the parcels in question to pay for the capital facilities specified in subdivision (b) of Section 207 shall cease to be levied and collected. Section 209. Additional district financing powers. Pursuant to Section 206, a special improvement district may also finance the acquisition improvement, rehabilitation, or maintenance of any real or other tangible property, whether privately or publicly owned, for the purposes described in subdivision (f) of Section205. Section 210. Transfer of funds; use of money; interest. The City Council may from time to time transfer moneys to a special improvement district or to an improvement area within a special improvement district, for the benefit of the district or improvement area, from any funds available to the City. The City Council may also appropriate any of its available moneys to a revolving fund to be used for the acquisition of real or personal property, engineering services, or the construction of structures or improvements needed in whole or in part to provide one or more of the facilities of a special improvement district. The district may reimburse the City for any amount transferred or appropriated pursuant to this Section 210, together with interest at the rate per annum determined by the City Council. Section 211. Advances of funds or work in-kind; acceptance by City Council; use; repayment; agreement; conditions (a) At any time either before or after the formation of the district, the City Council may accept advances of funds or work in-kind from any source, including, but not limited to, private persons or private entities and may provide by resolution, for the use of those funds or that work in-kind for any authorized purpose, including, but not limited to, paying any cost incurred by the City in creating a special improvement district. The City Council may enter -into an agreement, by resolution, with the person or entity advancing the funds or work in-kind, to repay all or a portion of the funds advanced, or to reimburse the person or entity for the value, or cost, whichever is less, of the work in-kind, as determined by the City Council, with or without interest, under all of the following conditions: (1) The proposal to repay the funds or the value or cost of the work in-kind, whichever is less, is included in the resolution of intention to establish a district or in the resolution of formation to establish the district, or in the resolution of consideration to alter the types of public facilities and services provided within an established district. (2) Any proposed special tax or change in a special tax is approved by the qualified electors of the district pursuant to this Code. Any agreement shall specify that if the qualified electors of the district do not approve the proposed special tax or change in a special tax, the local agency shall return any funds which have not been W-1 committed for any authorized purpose by the time of the election to the person or entity advancing the funds. (3) Any work in-kind accepted pursuant to this section shall have been performed or constructed as if the work had been performed or constructed under the direction and supervision, or under the authority of, the local agency. (b) The agreement shall not constitute a debt or liability of the City. Section 212. Liberal construction of Code; error, irregularity, neglect or omission. This Code shall be liberally construed in order to effectuate its purposes. No error, irregularity, informality, and no neglect or omission of any officer, in any procedure taken under this Code, which does not directly affect the jurisdiction of the City Council to order the installation of the facility or the provision of service, shall void or invalidate such proceeding or any levy for the costs of such facility or service. Section 213. Failure to receive notice, resolution, order, or other matter not affecting proceedings. The failure of any person to receive a notice, resolution, order, or other matter shall not affect in any way whatsoever the validity of any proceedings taken under this Code, or prevent the City Council from proceeding with any hearing so noticed. Section 214. Application of Code; authority to create special improvement districts. This Code authorizes the City to create special improvement districts pursuant to this Code within its territorial limits. The City may initiate proceedings pursuant to Section 301 to include territory proposed for annexation to the City within a special improvement district if a petition or resolution of application for the annexation of the territory to the City has been accepted for filing and a certificate of filing has been issued by the executive officer of the local agency formation commission at the time the proceedings to create the district are initiated. Those proceedings may be completed only if the annexation of the territory to the City is completed.. Section 215. Special tax; property acquired by public entity through negotiated transaction or by gift or devise If property not otherwise exempt from a special tax levied pursuant to this Code is acquired by a public entity through a negotiated transaction, or by gift or devise, the special tax shall, notwithstanding Section 601, continue to be levied on the property acquired and shall be enforceable against the public entity that acquired the property. However, even if the resolution of formation that authorized creation of the district did not specify conditions under which the obligation to pay a special tax may be prepaid and permanently satisfied, the City Council may specify conditions under which the public agency that acquires the property may prepay and satisfy the obligation to pay the tax. The conditions may be specified only if the City Council finds and determines that the prepayment arrangement will fully protect the interests of the owners of the special improvement district's bonds. Section 216. Special tax; special assessment on property acquired by public entity through eminent domain. If property subject to a special tax levied pursuant to this Code is acquired by a public entity through eminent domain proceedings, the obligation to pay the special tax shall be treated, pursuant to Section 1265.250 of the California Code of Civil Procedure, as if it were a special annual assessment. For this purpose, the present value of -9- the obligation to pay a special tax to pay the principal and interest on any indebtedness incurred by the district prior to the date of apportionment determined pursuant to Section 5082 of the California Revenue and Taxation Code shall be treated the same as a fixed lien special assessment. -10- ARTICLE III PROCEEDINGS TO CREATE A SPECIAL IMPROVEMENT DISTRICT Section 301. Institution of proceeding; request; petition; fee. Proceedings for the establishment of a special improvement district may be instituted by the City Council on its own initiative and shall be instituted by the City Council when any of the following occurs: (a) A' written request for the establishment of a special improvement district, signed by two members of the City Council, describing the boundaries of the territory which is proposed for inclusion in the area and specifying the type or types of facilities and services to be financed by the district, is filed with the City Council. (b) A petition requesting the institution of the proceedings signed by the requisite number of registered voters, as specified in subdivision (d) of Section 303, is filed with the Clerk. The petition may consist of any number of separate instruments, each of which shall comply with all of the requirements of the petition, except as to the number of signatures. (c) A petition requesting the institution of the proceedings signed by landowners owning the requisite portion of the area of the proposed district, as specified in subdivision (d) of Section 303, is filed with the Clerk. (d) The written request filed pursuant to subdivision (a) and the petitions filed pursuant to subdivisions (b) and (c) shall be accompanied by the payment of a fee in an amount which the City Council determines is sufficient to compensate the City Council for all costs incurred in conducting proceedings to create a district pursuant to this Code. Section 302. Prohibition of LAFCO from review, approval or disapproval of creation of or annexation or detachment of territory from a district. Notwithstanding any provision of Part I (commencing with Section 56000) of Division 3 of the California Government Code, a local agency formation commission shall have no power or duty to review and approve or disapprove a proposal to create a special improvement district or a proposal to annex territory to, or detach territory from, such district, pursuant to this Code. Section 303. Petition; contents; findings as to requisite number of signers. A petition requesting the institution of proceedings for the establishment of a special improvement district shall do all of the following: (a) Request the City Council to institute proceedings to establish a special improvement district pursuant to this Code. -11- (b) Describe the boundaries of the territory which is proposed for inclusion in the district. (c) State the type or types of facilities and services to be financed by the district. (d) Be signed by not less than 10 percent of the registered voters residing within the territory proposed to be included within the district or by owners of not less than 10 percent of the area of land proposed to be included within the district. If the City Council finds that the petition is signed by the requisite number of registered voters residing within the territory proposed to be included within the district or by the requisite number of owners of land proposed to be included within the district, that finding shall be final and conclusive. Section 304. Resolution of intention to establish district; time for adoption. Within 90 days after either a written request by two members of the City Council or a petition requesting the institution of proceedings for the establishment of a special improvement district is filed with the City Council, it shall adopt a resolution of intention to establish a special improvement district in the form specified in Section 305. Section 305. Resolution of intention to establish special improvement district; contents. Proceedings for the establishment of a special improvement district shall be instituted by the adoption of a resolution of intention to establish the district which shall do all of the following: (a) State that a special improvement district is proposed to be established under the terms of this Code and describe the boundaries of the territory proposed for inclusion in the district, which may be accomplished by reference to a map on file in the office of the Clerk, showing the proposed special improvement district. The boundaries of the territory proposed for inclusion in the district shall include the entirety of any parcel subject to taxation by the proposed district. (b) State the name proposed for the district in substantially the following form: "City of Newport Beach Special Improvement District No. ". (c) Describe the public facilities and services proposed to be financed by the district pursuant to this Code. The description may be general and may include alternatives and options, but it shall be sufficiently informative to allow a taxpayer within the district to understand what the funds of the district may be used to finance. If the purchase of completed public facilities or the incurring of incidental expenses is proposed, the resolution shall identify those facilities or expenses. If facilities are proposed to be financed through any financing plan, including, but not limited to, any lease, lease -purchase, or installment -purchase arrangement, the resolution shall briefly describe the proposed arrangement. (d) State that, except where funds are otherwise available, a special tax sufficient to pay for all facilities and services, secured by recordation of a continuing lien against all nonexempt real property in the district, will be annually levied within the area. The resolution shall specify the rate, method of apportionment, and -12- manner of collection of the special tax in sufficient detail to allow each landowner or resident within the proposed district to estimate the maximum amount that he or she will have to pay. The City Council may specify conditions under which the obligation to pay the specified special tax may be prepaid and permanently satisfied. In the case of any special tax to pay for public facilities and to be levied against any parcel used for private residential purposes, (1) the maximum special tax shall be specified as a dollar amount which shall be calculated and thereby established not later than the date on which the parcel is first subject to the tax because of its use for private residential purposes, which amount shall not be increased over time except that it may be increased by an amount not to exceed 2 percent per year, (2) the resolution shall specify a tax year after which no further special tax subject to this sentence shall be levied or collected, and (3) the resolution shall specify that under no circumstances will the special tax levied against any parcel subject to this sentence be increased as a consequence of delinquency or default by the owner of any other parcel or parcels within the district by more than 10 percent. For purposes of this paragraph, a parcel shall be considered "used for private residential purposes" not later than the date on which an occupancy permit for private residential use is issued. Nothing in this paragraph is intended to prohibit the City Council from establishing different tax rates for different categories of residential property, or from changing the dollar amount of the special tax for the parcel if the size of the residence is increased or if the size or use of the parcel is changed. (e) Fix a time and place for a public hearing on the establishment of the district which shall not be less than 30 or more than 60 days after the adoption of the resolution. (f) Describe any adjustment in property taxation to pay prior indebtedness pursuant to Sections 207 and 208. (g) Describe the proposed voting procedure. Section 306. Reports and estimate of costs by responsible officers; remedial action plan for cleanup of hazardous substance; inclusion in record of hearing. At the time of the adoption of the resolution of intention to establish a special improvement district, the City Council shall direct, each of its officers who is or will be responsible for providing one or more of the proposed types of public facilities or services to be financed by the district, if it is established, to study the proposed district and, at or before the time of the hearing, file a report with the City Council containing a brief description of the public facilities and services by type which will in his or her opinion be required to adequately meet the needs of the district and his or her estimate of the cost of providing those public facilities and services. if the purchase of completed public facilities or the payment of incidental expenses is proposed, the City Council shall direct its appropriate officer to estimate the fair and reasonable cost of those facilities or incidental expenses. If removal or remedial action for the cleanup of any hazardous substance is proposed, the City Council shall (a) direct its responsible officer to prepare or cause to be prepared, a remedial action plan based upon factors comparable to those described in subdivision (c) of Section 25356.1 of the California Health and Safety Code or (b) determine, on the basis of the particular facts and circumstances, which shall be comparable to those described in subdivision (g) of Section -13- 25356.1 of the California Health and Safety Code, that the remedial action is not required. All of those reports shall be made a part of the record of the hearing on the resolution of intention to establish the district. Section 307. Notice of hearing. (a) The Clerk shall publish a notice of the hearing pursuant to Section 6061 of the California Government Code in a newspaper of general circulation published in the area of the proposed district. Publication shall be complete at least seven days prior to the date of the hearing. (b) The notice shall contain all of the following information: (1) The text or a summary of the resolution of intention to establish the district which may refer to documents on file in the office of the Clerk for detail. (2) The time and place of the hearing on the establishment of the district. (3) A statement that at the hearing the testimony of all interested persons or taxpayers for or against the establishment of the district, the extent of the district, or the furnishing of specified types of public facilities or services will be heard. The notice shall also describe, in summary, the effect of protests made by registered voters or landowners against the establishment of the district, the extent of the district, the furnishing of a specified type of facilities or services, or a specified special tax, as provided in Section 310. (4) A description of the proposed voting procedure. Section 308. Notice of hearing by mail to registered voters and landowners within proposed district. The Clerk may also give notice of the hearing by first-class mail to each registered voter and to each landowner within the proposed district. This notice shall be mailed at least 15 days before the hearing and shall contain the same information as is required to be contained in the notice published pursuant to Section 307. Section 309. Protests; interested persons or taxpayer. At the hearing, protests against the establishment of the district, the extent of the district, or the furnishing of specified types of public facilities or services within the district may be made orally or in writing by any interested persons or taxpayer. Any protests pertaining to the regularity or sufficiency of the proceedings shall be in writing and shall clearly set forth the irregularities and defects to which objection is made. All written protests shall be filed with the Clerk on or before the time fixed for the hearing. The City Council may waive any irregularities in the form or content of any written protest and at the hearing may correct minor defects in the proceedings. Written protests may be withdrawn in writing at any time before the conclusion of the hearing. Section 310. Written protest; further proceedings to create district; elimination of special tax or types of facilities or services from resolution of formation. If 50 percent or more of the registered voters, or six registered voters, whichever is more, residing within the territory proposed to be included in the district, or the owners of one-half or more of the area of the land in the territory proposed to be included in the district and not exempt from the special tax, file written protests against the establishment of the district, and protests are -14- not withdrawn so as to reduce the value of the protests to less than a majority, no further proceedings to create the specified special improvement district or to levy the specified special tax shall be taken for a period of one year from the date of the decision of the City Council. If the majority protests of the registered voters or of the landowners are only against the furnishing of a specified type or types of facilities or services within the district, or against levying a specified special tax, those types of facilities or services or the specified special tax shall be eliminated from the resolution of formation. Section 311. Hearing; continuances; time limitation; exception; modification of resolution of intention; determination to abandon or proceed with establishment of district. The hearing may be continued from time to time, but shall be completed within 30 days, except that if the City Council finds that the complexity of the proposed district or the need for public participation requires additional time, the hearing may be continued from time to time for a period not to exceed six months. The City Council may modify the resolution of intention by eliminating proposed facilities or services, or by changing the rate or method of apportionment of the proposed special tax so as to reduce the maximum special tax for all or a portion of the owners of property within the proposed district, or by removing territory from the proposed district. Any modifications shall be made by action of the City Council at the public hearing. If the City Council proposes to modify the resolution of intention in a way that will increase the probable special tax to be paid by the owners of any lot or parcel, it shall direct that a report be prepared that includes a brief analysis of the impact of the proposed modifications on the probable special tax to- be paid by the owners of lots or parcels in the district, and shall receive and consider the report before approving the modifications or any resolution of formation which includes those modifications. At the conclusion of the hearing, the City Council may abandon the proposed establishment of the special improvement district or may, after passing upon all protests, determine to proceed with establishing the district. Section 312. Adoption of resolution of formation establishing district; contents; finding concerning validity and conformity of prior proceedings. (a) If the City Council determines to establish the district, it shall adopt a resolution of formation establishing the district. The resolution of formation shall contain all of the information required to be included in the resolution of intention to establish the district specified in Section 305. If a special tax is proposed to be levied in the district to pay for any facilities or services and the special tax has not- been eliminated by majority protest pursuant to Section 310, the resolution shall: (1) State that the proposed special tax to be levied within the district has not been precluded by majority protest pursuant to Section 310. (2) Identify any facilities or services proposed to be funded with the special tax. (3) Set forth the name, address, and telephone number of the office, department, or bureau which will be responsible for preparing annually a current roll of special tax levy obligations by assessor's parcel number and which will be responsible for estimating future special tax levies pursuant to Section 602. -15- (4) State that upon recordation of a notice of special tax lien pursuant to Section 3114.5 of the California Streets and Highways Code, a continuing lien to secure each levy of the special tax shall attach to all nonexempt real property in the district and this lien shall continue in force and effect until the special tax obligation is prepaid arid permanently satisfied and the lien canceled in accordance with law or until collection of the tax by the City ceases. (5) Set forth the county of recordation and the book and page in the Book of Maps of Assessments and Community Facilities Districts in the county recorder's office where the boundary map of the proposed special improvement district has been recorded pursuant to Sections 3111 and 3113 of the California Streets and Highways Code. (b) In the resolution of formation adopted pursuant to subdivision (a), the City Council shall determine whether all proceedings were valid and in conformity with the requirements of this Code. If the City Council determines that all proceedings were valid and in conformity with the requirements of this Code, it shall make a finding to that effect and that finding shall be final and conclusive. Section 313. Special tax; basis for apportionment. A tax imposed pursuant to this Code is a special tax and not a special assessment, and there is no requirement that the tax be apportioned on the basis of benefit to any property. However, a special tax levied pursuant to this Code may be on or based on benefit received by parcels of real property, the cost of making facilities or authorized services available to each parcel, or other reasonable basis as determined by the City Council. A special tax apportioned on any of these bases shall not be construed to be on or based upon the ownership of real property. Section 314. Noncontiguous areas; alteration of boundaries. (a) A special improvement district may include areas of territory that are not contiguous. (b) In establishing the boundaries of the district, the City Council may alter the exterior boundaries of the district to include less territory than that described in the notice of the hearing but it may not include any territory not described in the notice of the hearing. Section 315. Establishment or changing appropriations limit; election on proposition; adjustment. The City Council may submit a proposition to establish or change the appropriations limit, as defined by subdivision (h) of Section 8 of Article XIII B of the California Constitution, of a special improvement district to the qualified electors of a proposed or established district. The proposition establishing or changing the appropriations limit shall become effective if approved by the qualified electors voting on the proposition and shall be adjusted for changes in the cost of living and changes in populations, as defined by subdivisions (b) and (c) of Section 7901 of the California Revenue and Taxation Code, except that the change in population may be estimated by the City Council in the absence of an estimate by the Department of Finance, and in accordance with Section 1 of Article XIII B of the California Constitution. For purposes of adjusting for changes in population, the population of the district shall be deemed to be at least one person during each calendar year. -16- Section 316. Special tax levy; election; voter qualifications; ballots. (a) The City Council shall then submit the levy of any special taxes to the qualified electors of the proposed special improvement district subject to the levy or to the qualified electors of the territory to be annexed by the special improvement district subject to the levy in the next general election or in a special election to be held, notwithstanding any other requirement, including any requirement that elections be held on specified dates, contained in the California Elections Code, at least 90 days, but not more than 180 days, following the adoption of the resolution of formation. The City Council shall provide the resolution of formation, a certified map of sufficient scale and clarity to show the boundaries of the district, and a sufficient description to allow the election official to determine the boundaries of the district to the official conducting the election within three business days after the adoption of the resolution of formation. Assessor's parcel numbers for the land within the district shall be included if it is a landowner election or the district does not conform to an existing district's boundaries and if requested by the official conducting the election. If the election is to be held less than 125 days following the adoption of the resolution of formation, the concurrence of the election official conducting the election shall be required. However, any time limit specified by this section or requirement pertaining to the conduct of the election, including any time limit or requirement applicable to any election conducted pursuant to Article VI, may be waived with the unanimous consent of the qualified electors of the proposed district and the concurrence of the election official conducting the election. (b) Except as otherwise provided in subdivision (c), if at least 12 persons, who need not necessarily be the same 12 persons, have been registered to vote within the territory of the proposed special improvement district for each of the 90 days preceding the close of the protest hearing, the vote shall be by the registered voters of the proposed district, with each voter having one vote. Otherwise, the vote shall be by the landowners of the proposed district and each landowner who is the owner of record at the close of the protest hearing, or the authorized representative thereof, shall have one vote for each acre or portion of an acre of land that he or she owns within the proposed special improvement district. The number of votes to be voted by a particular landowner shall be specified on the ballot provided to that landowner. (c) if the proposed special tax will not be apportioned in any tax year on any portion of property in residential use in that tax year, as determined by the City Council, the City Council may provide that the vote shall be by the landowners of the proposed district whose property would be subject to the tax if it were levied at the time of the election. Each of these landowners shall have one vote for each acre, or portion thereof, that the landowner owns within the proposed district which would be subject to the proposed tax if it were levied at the time of the election. (d) Ballots for the special election authorized by subdivision (a) may be distributed to qualified electors by mail with return postage prepaid or by personal service by the election official. The official conducting the election may certify the proper mailing of ballots by an affidavit, which shall constitute conclusive proof of mailing in the absence of fraud. The voted ballots shall be returned to the election officer conducting the election not later than the hour specified in the resolution calling the election. However, if all the qualified voters have voted, the election may be closed with the concurrence of the official conducting the election. 17 Section 317. Election laws governing; ballot materials. (a) Except as otherwise provided in this Code, the provisions of law regulating elections of the City, insofar as they may be applicable, shall govern all elections conducted pursuant to this Code. Except as provided in subdivision (b), there shall be prepared and included in the ballot material provided to each voter, an impartial analysis pursuant to Section 5011 of the California Elections Code, and arguments and rebuttals, if any, pursuant to Sections 5012 to 5016, inclusive, and 5025 of the California Elections Code. (b) If the vote is to be by the landowners of the proposed district, analysis and arguments may be waived with the unanimous consent of all the landowners and shall be so stated in the order for the election. Section 318. Election by mail ballot. (a) If the election is to be conducted by mail ballot, the election official conducting the election shall provide ballots and election materials pursuant to subdivision (d) of Section 316 and Section 317, together with all supplies and instructions necessary for the use and return of the ballot. (b) The identification envelope for return of mail ballots used in landowner elections shall contain the following: (1) The name of the landowner. (2) The address of the landowner. (3) 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 identification envelope. (4) The printed naive and signature of the voter. (5) The address of the voter. (6) The date of signing and place of execution of the declaration described in paragraph (3). (7) A notice that the envelope contains an official ballot and is to be opened only by the canvassing board. Section 319. Special tax levy. After the canvass of returns of any election pursuant to Section 316, the City Council may levy any special tax as specified in the resolution of formation adopted pursuant to subdivision (a) of Section 312 within the territory of the district if two-thirds of the votes cast upon the question of levying the tax are in favor of levying that tax. Section 320. • Recordation and notice of special tax lien; site of record. Upon a determination by the City Council that the requisite two-thirds of votes cast in an election held pursuant to Section 316 are in favor of levying the special tax, the Clerk shall record the notice of special tax lien provided for in Section 3114.5 of the California Streets and -18- Highways Code, whereupon the lien of the special tax shall attach as provided in Section 3115.5 of the California Streets and Highways Code. The notice of special tax lien shall be recorded in the office of the county recorder in each county in which any portion of the district is located. Section 321. Application of Streets and Highway Code with respect to special taxes; filings. Division 4.5 (commencing with Section 3100) of the California Streets and Highways Code applies with respect to any proceedings undertaken pursuant to this Code. This Code is a "principal act" as that term is defined in Section 3100 of the California Streets and Highways Code. Section 322. Special tax levy; effect of failure to receive approval by two-thirds of voters. After the canvass of returns of any election conducted pursuant to Section 316, the City Council shall take no further action with respect to levying the specified special tax within the special improvement district for one year from the date of the election if the question of levying.that specified special tax fails to receive approval by two-thirds of the votes cast upon the question. Section 323. Owners not required to present sealed proposals or bids; election not to perform work; contract with original bidder. (a) The owners of three-fourths of the area of lands taxed or liable to be taxed, or their agents (who shall declare under penalty of perjury that they are such owners or agents), shall not be required to present sealed proposals or bids when the City Council calls for bids preparatory to letting a contract or contracts to do work financed pursuant to this Code, but may, within 10 days after the publication of the notice of the award of the contract, elect to perform the work and enter into a written contract to do the whole work at prices not exceeding the prices specified in the bid of the bidder to whom the contract was awarded, and all work done under the contract shall be subject to any regulations as may be prescribed by the City Council. (b) If the owners elect not to perform the work and not to enter into a written contract for that work within 10 days of publication of the notice of the award of the contract, or to commence the work within 15 days after the date of the written contract entered into between the owners and the City, and to continue that work with diligence to completion, as determined by the City Council, a contract shall be entered into by the City with the original bidder to whom the contract was awarded at the prices specified in his or her bid. (c) If, in the opinion of the City Council, the public interest will not be served by allowing the property owners to enter into a contract in accordance with subdivision (a), the City Council may so provide in the resolution of intention adopted pursuant to Section 305. -19- ARTICLE IV EXTENSION OF AUTHORIZED FACILITIES AND SERVICES AND CHANGES IN SPECIAL TAXES Section 401. Types of facilities and services financed. Upon the establishment of a special improvement district, only the public facilities and services as described in the resolution of formation may be financed by the district under the authority of this Code, except as provided in this article. Section 402. Buyers of certain residential property; induced waiver of right to petition or take other action prohibited Under* no circumstances shall any buyer or prospective buyer of any completed structure for which a certificate of occupancy for private residential use has been issued which is located within any district formed pursuant to this Code be asked, required, or otherwise induced to waive any right to petition or take any other action authorized pursuant to this article. No contract, agreement or covenant shall be binding with respect to such a waiver. Section 403. Special tax; levy and apportionment; cessation of tax and lien. Upon approval of a special tax pursuant to Article 1II, the special tax may be levied only at the rate and may be apportioned only in the manner specified in the resolution of formation, except as provided in this article, and except that the City Council may levy the special tax at a rate lower than that specified in the resolution. In addition, the special tax may be levied only so long as it is needed to pay the principal and interest on debt incurred in order to construct facilities under authority of this Code, or so long as it is needed to pay the costs and incidental expenses of services or of the construction of facilities authorized by this Code. When the City Council determines that the special tax shall cease to be levied, the City Council shall direct the clerk to record a Notice of Cessation of Special Tax which shall state that the obligation to pay the special tax has ceased and that the lien imposed by the Notice of Special Tax Lien recorded in Book _, and Page —of the records of the County Recorder of Orange County, State of California, is extinguished. The Notice of Cessation of Special Tax shall additionally identify the book and page of the Book of Maps of Assessment and Community Facilities Districts wherein the map of the boundaries of the district is recorded. Section 404. Types of facilities and services provided. Except as otherwise provided in this article, the City Council may, at any time, after conducting a public hearing, eliminate one or more of the types of facilities and services specified in the resolution of intention to establish the district but may not finance any types of facilities and services that were not specified in the resolution of intention. Section 405. Resolution of consideration; change in types of facilities and services financed. (a) If the City Council determines that the public convenience and necessity require any change.in the types of authorized public facilities or services which should be financed by an established special improvement district, that the rate or method of -20- apportionment of a special tax should be changed, or that a new special tax should be proposed, the City Council may adopt a resolution of consideration to alter the types of public facilities or services to be financed by the district, to levy a new special tax or special taxes, or, except as provided in subdivision (b), to alter the rate or method of apportionment of the special tax. Those proceedings may be commenced at any time. (b) The City Council shall not adopt a resolution of consideration to reduce the rate of any special tax or terminate the levy of any special tax if the proceeds of that tax are being utilized to retire any debt incurred pursuant to this Code unless the City Council determines that the reduction or termination of that tax would not interfere with the timely retirement of that debt. (c) The resolution of consideration adopted pursuant to subdivision (a) shall contain all of the information required by subdivisions (a) to (e), inclusive, of Section 408. Section 406. Resolution of consideration to make changes in facilities, services or special taxes; petition; fee. (a) If a petition signed by 50 percent or more of the registered voters residing in the district, or by the owners of 50 percent or more of the territory within the district, is filed with the City Council requesting that proceedings be commenced to change the types of public facilities or services financed by the district or that the rate or method of apportionment of an existing special tax be changed, or that a new special tax be levied, the City Council shall within 40 days thereafter adopt a resolution of consideration in the form specified in Section 408 to make those changes within the special improvement district except that an existing special tax being used to pay off any debt incurred in order to build or acquire capital facilities under this Code shall not be reduced or terminated if doing so would interfere with the timely retirement of that debt. (b) Any petition filed by landowners shall be accompanied by the payment of the fee which the City Council determines. That fee may be imposed in an amount sufficient to compensate the City Council for all costs incurred in conducting proceedings to change the district pursuant to this article. Section 407. Petition to make specified changes to types of public facilities; separate instruments; signatures. The petition shall request the City Council to commence proceedings to make specified changes to a named special improvement district. The petition may consist of any number of separate instruments each of which shall comply with all the requirements of a petition except as to the number of signatures. Section 408. Resolution of consideration; form. The resolution of consideration to alter the types of public facilities and services financed by an established special improvement district, or to levy a new special tax or special taxes, or to alter the rate or method of apportionment of an existing special tax, shall do all of the following: (a) State the name of the area. (b) Generally describe the territory included in the area. (c) Specify the changes in public facilities and services which it is proposed that the district finance. -21- (d) Specify any new special taxes which would be levied to pay for new or existing facilities and services and any proposed alteration to the rate or method of apportionment of an existing special tax. (e) Fix a time and place for a hearing upon the resolution which shall not be less than 30 or more than 60 days after the adoption of the resolution of consideration. Section 409. Resolution of intention to make changes in facilities, services or special taxes; notice of hearing. The Clerk shall give notice of the hearing in the same manner and within the same time as provided for the giving of notice of a hearing on a resolution of intention to establish a special improvement district. The notice shall do all of the following: (a) Contain the text or a summary of the resolution. (b) State the time and place for hearing. (c) State that at the hearing the testimony of all interested persons or taxpayers for or against the proposed changes in public facilities and services and the levying of additional special taxes or of changing existing special taxes will be heard. The notice shall also describe, in summary, the effect of protests made by registered voters or landowners against the proposed changes in facilities or services and the levying of additional taxes or changes in existing taxes. (d) Describe the proposed voting procedure. Section 410. Resolution of intention to make changes in facilities, services or special taxes; protests. At the hearing, protests against the proposals described in the resolution may be made orally, or in writing by any interested persons. Any protests pertaining to the regularity or sufficiency of the proceedings shall be in writing and shall clearly set forth the irregularities or defects to which objection is made. All written protests shall be filed with the Clerk on or before the time fixed for the hearing. The City Council may waive any irregularities in the form or content of any written protest and at the hearing may correct minor defects in the proceedings. Written protests may be withdrawn in writing at any time before the conclusion of the hearing. Section 411. Written protests against changes; elimination from resolution. If 50 percent or more of the registered voters, or six registered voters, whichever is more, residing within the district, or the owners of one-half or more of the area of the land in the territory included in the district and not exempt from the special tax file written protests against changing the public facilities or services financed by the district, those changes in the facilities or services shall be eliminated from the resolution ordering changes in the types of public facilities or services to be financed and the changes shall not be included in a resolution for a period of one year from the date of the decision of the legislative body on the hearing. -22- If 50 percent or more of the registered voters, or six registered voters, whichever is more, residing within the district, or the owners of one-half or more of the area of the land in the territory included in the district and not exempt from the special tax file written protests against the levying of any additional special taxes within the district, or against a proposed alteration to an existing special tax within the district, those changes shall be eliminated from the resolution and the changes shall not be included in a resolution for a period of one year from the date of the decision of the legislative body on the hearing. Section 412. Hearing; time; abandonment of proceeding or submission of question to qualified electors; determination of legal effect of proposed levy or of changes in facilities and services; notice of changes. (a) The hearing may be continued from time to time, but shall be completed within 30 days, except that if the City Council finds that the complexity of the proposed changes or the need for public participation requires additional time, the hearing may be continued from time to time for a period not to exceed six months. At the conclusion of the hearing the City Council may abandon the proceedings or may, after passing upon all protests, submit the question of levying a new special tax or of changing the rate or method of apportionment of an existing tax or of changing the types of facilities and services to be financed by the district, or any combination, to the qualified electors of the district as specified in Article III. (b) After the canvass of any election conducted pursuant to this section, the City Council shall adopt a resolution of change determining that the proposed levy of a new special tax or of changes in the types of facilities and services to be financed by the district, or any combination, are lawfully authorized, if two-thirds of the votes cast on the proposition are in favor of the proposed levy or changes. (c) Upon adoption of a resolution of change, the Clerk shall record notice of the changes pursuant to Section 3117.5 of the California Streets and Highways Code. Section 413. Dissolution of special improvement district; findings; dissolution of liens. The City Council may, by ordinance, dissolve any existing special improvement district which it has created upon making all of the following determinations: (a) That the district is no obligated to pay any outstanding debt. (b) That the district has no authorization to levy any special tax. Upon dissolving a district, the City Council shall cause an addendum to be recorded to the Notice of Special Tax Lien recorded pursuant to Section 3114.5 of the California Streets and Highways Code which shall state that the special improvement district and all associated liens, if any, have been dissolved. -23- ARTICLE V ANNEXATION OF TERRITORY Section 501. Authorization. The City Council may annex territory to an existing special improvement district as provided in this article. The annexed territory need not be contiguous to territory included in the existing special improvement district. The territory proposed to be annexed to the special improvement district may be territory located outside the territorial limits of the City provided that the territory to be annexed to the special improvement district will be annexed to the City prior to, or concurrently with, the annexation of the subject territory to the special improvement district and, if the annexation of the subject territory to the City is not completed, the subject territory shall not be annexed to the special improvement district. The City Council shall not adopt a resolution of intention pursuant to Section 502 if the territory proposed to be annexed includes territory which is outside the territorial limits of the City unless an initial action, petition, or filing for the annexation of that territory to the City has been adopted or filed, as appropriate. Section 502. Adoption of resolution of intention. If the City Council determines that public convenience and necessity require that territory be added to an existing special improvement district, or if the voters residing within certain territory or landowners request the City Council to include territory within the district, the City Council may adopt a resolution of intention to annex the territory or to provide for future annexation of the territory. Section 503. Resolution of intention; contents. The resolution of intention to annex the territory or to provide for future annexation of the territory shall do all of the following: (a) State the name of the existing special improvement district. (b) Generally describe the territory included in the existing district and the territory proposed to be annexed. As an alternative, the resolution may identify territory proposed for annexation in the future, with the condition that parcels within that territory may be annexed only with the unanimous approval of the owner or owners of each parcel or parcels at the time that parcel or those parcels are annexed. (c) Specify the types of public facilities and services provided pursuant to this Code in the existing district and the types of public facilities and services to be provided in the territory proposed to be annexed or to be annexed in the future; and include a plan for sharing facilities and providing services that will be provided in common within the existing district and the territory proposed to be annexed or to be annexed in the future. (d) Specify any special taxes which would be levied within the territory proposed to be annexed or to be annexed in the future to pay for public facilities and services provided pursuant to this Code within that territory. A special tax proposed to pay for services to be supplied within the territory proposed to be annexed or to be annexed in the future shall be equal to any special tax levied to pay for the same services in the existing district, except that a higher or lower tax may be levied within the territory proposed to be annexed or to be annexed in the future to the extent that the actual cost of providing the services in that territory is higher or lower than the cost of providing those services in the existing district. A special tax proposed to pay for public facilities financed with bonds secured by the existing special improvement district shall be the same as the tax levied in the existing district for that purpose, except that a higher special tax may be levied for that purpose within the territory proposed to be annexed or to be annexed in the future to compensate for the interest and principal previously paid by the existing special improvement district, less any depreciation allocable to the public facility. (e) Specify any alteration in the special tax rate levied within the existing special improvement district as a result of the proposed annexation. The maximum tax rate in the existing special improvement district may not be increased as a result of proceedings pursuant to this article. (f) Fix a time and place for a hearing upon the resolution which shall not be less than 30 nor more than 60 days after the adoption by the City Council of the resolution of intention to annex territory or to provide for future annexation of territory pursuant to Section 502- Section 02 Section 504. Notice of hearing. The Clerk shall give notice of the hearing in the same manner and within the same time as provided for the giving of notice of a hearing on a resolution of intention to establish a special improvement district, as required by Section 307. Notice pursuant to Section 308 may be mailed to the registered voters and landowners within the territory proposed to be annexed or proposed to be annexed in the future. The notice shall do all of the following: (a) Contain the text or a summary of the resolution. (b) State the time and place for the hearing. (c) State that at the hearing the testimony of all interested persons for or against the annexation of territory or the future annexation of territory to the special improvement district or the levying of special taxes within the territory proposed to be annexed or proposed to be annexed in the future will be heard. Section 505. Protests. At the hearing, protests against the proposals described in the resolution of intention may be made orally by any interested person. Any protests pertaining to the regularity or sufficiency of the proceedings shall be in writing and shall clearly set forth the irregularities or defects to which objection is made. All written protests shall be filed with the Clerk prior to the time fixed for the hearing. The City Council may waive any irregularities in the form or content of any written protest and at the hearing may correct minor defects in the proceedings. Written protests may be withdrawn in writing at any time before the conclusion of the hearing. -25- Section 506. Abandonment of proposal; required number of written protests. If 50 percent or more of the registered voters, or six registered voters, whichever is more, residing within the existing special improvement district, or if 50 percent or more of the registered voters or six registered voters, whichever is more, residing within the territory proposed for annexation or proposed to be annexed in the future, or if the owners of one- half or more of the area of land included in the existing district or if the owners of one-half or more of the area of land in the territory proposed to be annexed or proposed to be annexed in the future, file written protests against the proposed annexation of territory to the existing special improvement district or the proposed addition of territory to the existing special improvement district in the future, and protests are not withdrawn so as to reduce the protests to less than a majority, no further proceedings shall be undertaken for a period of one year from the date of decision of the City Council on the issues discussed at the hearing. Section 507. Continuance and duration of hearing; abandonment of proceedings; submission of special tax question to electors; annexation of territory; effectiveness of ballots contingent on passage of other ballot measures. (a) The hearing may be continued from time to time, but shall be completed within 30 days. At the conclusion of the hearing, the City Council may abandon the proceedings, or may, after passing upon all protests, submit the question of levying a special tax within the area proposed to be annexed to the existing special improvement district to the qualified electors of the area proposed to be annexed as specified in Article III, or may provide for the annexation of territory proposed for annexation in the future upon the unanimous approval of the owner or owners of each parcel or parcels at the time that the parcel or parcels are annexed, without additional hearings. (b) Notwithstanding any other provision of law, when the question of levying a special tax within the areas proposed to be annexed into an existing special improvement district appears on he same ballot as the question of annexation of the same territory to a school district the effectiveness of each ballot measure may be made contingent on the passage of the other ballot measure. Section 508. Addition of territory with full legal effect; special tax levy. (a) After the canvass of returns of any election conducted in accordance with Section 507, the City Council body shall determine that the area proposed to be annexed is added to and part of the existing special improvement district with full legal effect, and the City Council may levy any special tax within the annexed territory, as specified in the resolution of intention to annex adopted pursuant to Section 502, if two-thirds of the votes cast on the proposition are in favor of levying the special tax. (b) Upon a determination by the City Council that the area proposed to be annexed is added to the existing special improvement district, the Clerk shall record notice of the annexation pursuant to Section 3117.5 of the California Streets and Highways Code. Section 509. Failure to receive approval of two-thirds of voters; prohibition of further action. After the canvass of returns of any election conducted in accordance with Section 507, the City Council shall take no further action on annexing the territory proposed to be annexed to the special improvement district for a period of one year from the date of -26- the election if less than two-thirds of the votes cast on the proposition are in favor of levying the special tax. -27- ARTICLE VI PROCEDURES FOR LEVYING Section 601. Ordinance; tax rate and apportionment; exemption of governmental properties and entities from special tax; use of tax proceeds; tax collection, penalties, etc.; lien to secure levy of special taxes. After a special improvement district has been created and authorized to levy specified special taxes pursuant to Article 1II, Article IV, or Article V, the City Council may, by ordinance, levy the special taxes at the rate and apportion them in the manner specified in the resolution adopted pursuant to Article III, Article IV, or Article V. The City Council may provide, by resolution, for the levy of the special tax in the current tax year or future tax years at the same rate or at a lower rate than the rate provided by ordinance, if the resolution is adopted and a certified list of all parcels subject to the special tax levy including the amount of the tax to be levied on each parcel for the applicable tax year, is filed by the Clerk or other official designated by the City Council with the county auditor on or before the 10th day of August of that tax year. The Clerk or other official designated by the City Council may file the certified list after the 10th of August but not later than the 21st of August if the Clerk or other official obtains prior written consent of the county auditor. Properties or entities of the state, federal, or other local governments shall, except as otherwise provided in Section 215, be exempt from the special tax. No other properties or entities are exempt from the special tax unless the properties or entities are expressly exempted in the resolution of formation to establish a district adopted pursuant to Section 312 or in a resolution of consideration to levy a new special tax or special taxes or to alter the rate or method of apportionment of an existing special tax as provided in Section 408. The proceeds of any special tax may only be used to pay, in whole or part, the cost of providing public facilities, services, and incidental expenses pursuant to this Code. The special tax shall be collected in the same manner as ordinary ad valorem property taxes are collected and shall be subject to the same penalties and the same procedures, sale, and lien priority in case of delinquency as is provided for ad valorem taxes, unless another procedure has been authorized in the resolution of formation establishing the district and adopted by the City Council. The tax collector may collect the special tax at intervals as specified in the resolution of formation, including intervals different from the intervals at which the ordinary ad valorem property taxes are collected. The tax collector may deduct the reasonable administrative costs incurred in collecting the special tax. All special taxes levied by a special improvement district shall be secured by the lien imposed pursuant to Section 3115.5 of the California Streets and Highways Code. This lien shall be a continuing lien and shall secure each levy of special taxes. The lien of the special tax shall continue in force and effect until the special tax obligation is prepaid, permanently satisfied, and canceled in accordance with Section 607 or until the special tax ceases to be levied by the City Council in the manner provided in Section 403. If any portion of a parcel is encumbered by a lien pursuant to this Code, the entirety of the parcel shall be encumbered by that lien. Section 602. Preparation of current roll of special tax levy obligations; designation of responsible office; estimation of future special tax levies; liability for inaccurate estimates; -28- notice of special tax; form. (a) The City Council shall designate an office, department, or bureau of the City which shall be responsible for annually preparing the current roll of special tax levy obligations by assessor's parcel number on nonexempt property within the district and which will be responsible for estimating future special tax levies. The designated office, department, or bureau shall establish procedures to promptly respond to inquiries concerning current and future estimated tax liability. Neither the designated office, department, or bureau, nor the City Council, shall be liable if any estimate of future tax liability is inaccurate, nor for any failure of any seller to request a Notice of Special Tax or to provide the notice to a buyer. (b) For purposes of enabling sellers of real property subject to the levy of special taxes to satisfy the notice requirements of subdivision (b) of Section 1102.6 of the California Civil Code, the designated office, department, or bureau shall furnish a Notice of Special Tax to any individual requesting the notice or any owner of property subject to a special tax levied by the City within five working days of receiving a request for such notice. The City may charge a reasonable fee for this service not to exceed ten dollars ($10.00). (c) (1) The notice shall contain the heading "NOTICE OF SPECIAL TAX" in type no smaller than 8 -point type, and shall be in substantially the following form. The form may be modified as needed to clearly and accurately consolidate information about the tax structure and other characteristics of two or more districts that levy or are authorized to levy special taxes with respect to the lot, parcel, or unit. The notice shall be completed by the designated office, department, or bureau except for the signatures and date of signing. NOTICE OF SPECIAL TAX CITY OF NEWPORT BEACH SPECIAL IMPROVEMENT DISTRICT NO., COUNTY OF ORANGE, CALIFORNIA TO: THE PROSPECTIVE PURCHASER OF THE REAL PROPERTY KNOWN AS: THIS IS A NOTIFICATION TO YOU PRIOR TO YOUR PURCHASING THIS PROPERTY. This property is subject to a special tax, which is in addition to the regular property taxes and any other charges and benefit assessments on the parcel. This special tax may not be imposed on all parcels within the City of Newport Beach. If you fail to pay this tax when due each year, the property may be foreclosed upon and sold. The tax is used to provide public facilities or services that are likely to particularly benefit the property. YOU SHOULD TAKE THIS TAX AND THE BENEFITS FROM THE PUBLIC FACILITIES AND SERVICES FOR WHICH IT PAYS INTO ACCOUNT IN DECIDING WHETHER TO BUY THIS PROPERTY. (2) The maximum special tax which may be levied against this parcel to pay for public facilities is $ during the -_ tax year. This amount will increase by — percent per year after that (if applicable). The special tax will be -29- levied each year until all of the authorized facilities are built and all special tax bonds are repaid, but in any case not after the - tax year. An additional special tax will be used to pay for ongoing services, if applicable. The maximum amount of this tax is dollars ($ ) during the --- tax year. This amount may increase by _ , if applicable, and may be levied until the -_ tax year (or forever, as applicable.) (3) The authorized facilities which are being paid for by the special taxes, and by the money received from the sale of bonds which are being repaid by the special taxes, are: These facilities may not yet have all been constructed or acquired and it is possible that some may never be constructed or acquired. In addition, the special taxes may be used to pay for costs of the following services: YOU MAY OBTAIN A COPY OF THE RESOLUTION OF FORMATION WHICH AUTHORIZED CREATION OF THE SPECIAL IMPROVEMENT DISTRICT, AND WHICH SPECIFIES MORE PRECISELY HOW THE SPECIAL TAX IS APPORTIONED AND HOW THE PROCEEDS OF THE TAX WILL BE USED, FROM THE CITY OF NEWPORT BEACH BY CALLING (telephone number). THERE MAY BE A CHARGE FOR THIS DOCUMENT NOT TO EXCEED THE ESTIMATED REASONABLE COST OF PROVIDING THE DOCUMENT. I (WE) ACKNOWLEDGE THAT I (WE) HAVE RECEIVED A COPY OF THIS NOTICE. I (WE) UNDERSTAND THAT I (WE) MAY TERMINATE THE CONTRACT TO PURCHASE OR DEPOSIT RECEIPT AFTER RECEIVING THIS NOTICE FROM THE OWNER OR AGENT SELLING THE PROPERTY. THE CONTRACT MAY BE TERMINATED WITHIN THREE DAYS IF THE NOTICE WAS RECEIVED IN PERSON OR WITHIN FIVE DAYS AFTER IT WAS DEPOSITED IN THE MAIL BY GIVING WRITTEN NOTICE OF THAT TERMINATION TO THE OWNER OR AGENT SELLING THE PROPERTY. DATE: Section 603. Actions or proceedings to attack, review, set aside, void, or annul levy of special tax or increase in special tax; time for commencement; time for perfection of appeal from final judgment. Any action or proceeding to attack, review, set aside, void, or annul the levy of a special tax or an increase in a special tax pursuant to this Code shall be commenced within 30 days after the special tax is approved by the voters. Any appeal from a final judgment iri that action or proceeding shall be perfected within 30 days after the entry of judgment. -30- Section 604. Sale or lease of lot, parcel or unit of subdivision; notice of special tax; form; termination of agreement; violations and penalties. (a) If a lot, parcel, or unit of a subdivision is subject to a special tax levied pursuant to this Code, the subdivider, his or her agent, or representative, shall not sell, or lease for a term exceeding five years, or permit a prospective purchaser or lessor to sign a contract of purchase or a deposit receipt or any substantially equivalent document in the event of a lease with respect to the lot, parcel, or unit, or cause it to be sold or leased for a term exceeding five years, until the prospective purchaser or lessee of the lot, parcel, or unit has been furnished with and has signed a written notice as provided in this section. The notice shall contain the heading "NOTICE OF SPECIAL TAX" in type no smaller than 8 -point type, and shall be in substantially the following form, although the form may be modified as needed to clearly and accurately consolidate information about the tax structure and other characteristics of two or more districts that levy or are authorized to levy special taxes with respect to the lot, parcel, or unit: NOTICE OF SPECIAL TAX CITY OF NEWPORT BEACH SPECIAL IMPROVEMENT DISTRICT NO.. COUNTY OF ORANGE, CALIFORNIA TO: THE PROSPECTIVE PURCHASER OF THE REAL PROPERTY KNOWN AS: THIS IS A NOTIFICATION TO YOU PRIOR TO YOUR ENTERING INTO A CONTRACT TO PURCHASE THIS PROPERTY. THE SELLER IS REQUIRED TO GIVE YOU THIS NOTICE AND TO OBTAIN A COPY SIGNED BY YOU TO INDICATE THAT YOU HAVE RECEIVED AND READ A COPY OF THIS NOTICE. (1) This property is subject to a special tax, which is in addition to the regular property taxes and any other charges, fees special taxes, and benefit assessments on the parcel. It is imposed on this property because it is a new development, and may not be imposed generally upon property outside of this new development. If you fail to pay this tax when due each year, the property may be foreclosed upon and sold. The tax is used to provide public facilities or services that are likely to particularly benefit the property. YOU SHOULD TAKE THIS TAX AND THE BENEFITS FROM THE PUBLIC FACILITIES AND SERVICES FOR WHICH IT PAYS INTO ACCOUNT IN DECIDING WHETHER TO BUY THIS PROPERTY. (2) The maximum special tax which may be levied against this parcel to pay for public facilities is $ during the tax year. This amount will increase by _ percent per year after that (if applicable). The special tax will be levied each year until all of the authorized facilities are built and all special tax bonds are repaid, but in any case not after the - tax year. An additional special tax will be used to pay for ongoing service costs, if applicable. The maximum amount of this tax is dollars ($ ) during the - _ _ tax year. This amount may increase by , if applicable, and that part may be levied until the -_ tax year (or forever, as applicable.) -31- (3) The authorized facilities which are being paid for by the special taxes, and by the money received from the sale of bonds which are being repaid by the special taxes, are: These facilities may not yet have all been constructed or acquired and it is possible that some may never be constructed or acquired. In addition, the special taxes may be used to pay for costs of the following services: YOU MAY OBTAIN A COPY OF THE RESOLUTION OF FORMATION WHICH AUTHORIZED CREATION OF THE SPECIAL IMPROVEMENT DISTRICT, AND WHICH SPECIFIES MORE PRECISELY HOW THE SPECIAL TAX IS APPORTIONED AND HOW THE PROCEEDS OF THE TAX WILL BE USED, FROM THE CITY OF NEWPORT BEACH BY CALLING (telephone number). THERE MAY BE A CHARGE FOR THIS DOCUMENT NOT TO EXCEED THE REASONABLE COST OF PROVIDING THE DOCUMENT. I (WE) ACKNOWLEDGE THAT I (WE) HAVE READ THIS NOTICE AND RECEIVED A COPY OF THIS NOTICE PRIOR TO ENTERING INTO A CONTRACT TO PURCHASE OR DEPOSIT RECEIPT WITH RESPECT TO THE ABOVE - REFERENCED PROPERTY. I (WE) UNDERSTAND THAT I (WE) MAY TERMINATE THE CONTRACT TO PURCHASE OR DEPOSIT RECEIPT WITHIN THREE DAYS AFTER RECEIVING THIS NOTICE IN PERSON OR WITHIN FIVE DAYS AFTER IT WAS DEPOSITED IN THE MAIL BY GIVING WRITTEN NOTICE OF THAT TERMINATION TO THE OWNER, SUBDIVIDER OR AGENT SELLING THE PROPERTY. DATE: (b) "Subdivision", as used in subdivision (a), means improved or unimproved land that is divided or proposed to be divided for the purpose of sale, lease, or financing, whether immediate or future, into two or more lots, parcels, or units and includes a condominium project, as defined by Section 1350 of the Californfa Civil Code, a community apartment project, a stock cooperative, and a limited -equity housing cooperative, as defined in Sections 11004, 11003.2, and 11003.4, respectively, of the California Business and Professions Code. (c) The buyer shall have three days after delivery in person or five days after delivery by deposit in the mail of any notice required by this section, to terminate his or her agreement by delivery of written notice of that termination to the owner, subdivider, or agent. (d) The failure to furnish the notice to the buyer or lessee, and failure of the buyer or lessee to sign the notice of a special tax, shall not invalidate any grant, conveyance, lease, or encumbrance. -32- (e) Any person or entity who willfully violates the provisions of this section shall be liable to the purchaser of a lot or unit which is subject to the provisions of this section, for actual damages, and in addition thereto, shall be guilty of a public offense punishable by a fine in an amount not to exceed five hundred dollars ($500). In an action to enforce such liability or fine, the prevailing party shall be awarded reasonable attorney's fees. Section 605. Manner of fixing and collecting charges. For any special improvement district or zone thereof, the City Council may fix and collect charges in the same manner as for miscellaneous extended services in county service areas. Section 606. Use of charges for authorized facilities and services. Any charges collected pursuant to this Code may only be used for facilities and services authorized by this Code. Section 607. Prepayment and satisfaction of special tax lien; notice of cancellation of lien. In the event that the special tax is permanently satisfied as to a particular parcel of land, the Clerk shall prepare and record in the office of the county recorder of the County of Orange, and the county recorder shall accept for recordation, a Notice of Cancellation of Special Tax Lien as to that parcel. The Notice of Cancellation of Special Tax Lien shall identify with particularity the special tax which has been prepaid and permanently satisfied, shall state the book and page number in the records of the county recorder where the Notice of Special Tax Lien being canceled is recorded, shall contain the legal description and assessor's parcel number of the particular parcel of land subject to the lien, and shall contain the name of the owner of record of the parcel. The. recorder shall mail the original Notice of Cancellation of Special Tax Lien to the owner of the property after recording the document. The City Council may specify a charge for the preparation and recordation of this notice. -33- ARTICLE VII BONDS Section 701. Resolution to incur bonded indebtedness. Whenever the City Council deems it necessary for the special improvement district to incur a bonded indebtedness, it shall, by resolution, set forth all of the following: (a) A declaration of the necessity for the indebtedness. (b) The purpose for which the proposed debt is to be incurred. (c) The amount of the proposed debt. (d) The time and place for a hearing by the City Council on the proposed debt issue. Section 702. Inclusion of certain costs and estimated costs in proposed bonded indebtedness. The amount of the proposed bonded indebtedness may include all costs and estimated costs incidental to, or connected with, the accomplishment of the purpose for which the proposed debt is to be incurred, including, but not limited to, the estimated costs of construction or acquisition of buildings, or both; acquisition of land, rights-of-way, water, sewer, or other capacity or connection fees; satisfaction of contractual obligations relating to expenses or the advancement of funds for expenses existing at the time the bonds are issued pursuant to this Code, architectural engineering, inspection, legal, fiscal, and financial consultant fees; bond and other reserve funds; discount fees; interest on any bonds of the district estimated to be due and payable within two years of issuance of the bonds; election costs; and all costs of issuance of the bonds, including, but not limited to, fees for bond counsel, costs of obtaining credit ratings, bond insurance premiums, fees for letters of credit, and other credit enhancements costs, and printing costs. Section 703. Notice of hearing on resolution. The Clerk shall publish a notice of the hearing pursuant to Section 6061 of the California Government Code in a newspaper of general circulation circulated within the district. The notice shall state: (a) The time and place of the hearing on the proposal to issue debt. (b) That at the hearing the testimony of all interested persons, including all persons owning property in the area, for or against the proposed debt issuance, will be heard. Section 704. Hearing; proceeding with. At the time and place fixed for the hearing on the resolution declaring the necessity for incurring the bonded indebtedness or at any time and place to which the hearing is adjourned, the City Council shall proceed with the hearing. -34- Section 705. Hearing; interested persons. At the hearing any person interested, including persons owning property within the area., may appear and present any matters material to the questions set forth in the resolution declaring the necessity for incurring the bonded indebtedness. Section 706. Improvement area; resolution designating; application of proceedings. For purpose of financing of, or contributing to the financing of, specified public facilities, the City Council may by resolution designate a portion or portions of the district as one or more improvement areas. An area shall be known as "Improvement Area No._" of "City of Newport Beach Special Improvement District No. ". After the designation of an improvement area, all proceedings for purposes of a bond election and for the purpose of levying special taxes for payment of the bonds, or for any other change pursuant to Article IV, shall apply only to the improvement area for those specified facilities. Section 707. Resolution; bonded indebtedness. After the City Council has made its determination pursuant to Section 706, if it deems it necessary to incur the bonded indebtedness, it shall by resolution state all of the following: (a) That it deems it necessary to incur the bonded indebtedness. (b) The purpose for which the bonded indebtedness will be incurred. (c) Either of the following in accordance with its previous determination: (1) That the whole of the district will pay for the bonded indebtedness. (2) That a portion of the district will pay for the bonded indebtedness, which portion shall be described in the resolution of the City Council made pursuant to Section 706. (d) The principal amount of debt to be incurred. (e) The maximum term the bonds to be issued, which term shall not exceed 40 years. (f) The maximum annual rate of interest to be paid, payable annually or semiannually, or in part annually and in part semiannually, or in such other manner as may be provided by the City Council. (g) That the proposition will be submitted to the voters. (h) The date of the special improvement district election (which may be consolidated with a general or special district election including an election to levy a special tax) at which time the proposition shall be submitted to the voters. (i) if the election is not conducted by mail or hand -delivered ballot, the hours between which the polls shall be open. -35- (j) If the election is conducted by mail or hand -delivered ballot, the hour when the ballots are required to be received in the office of the election officer conducting the election, and that if all qualified electors have voted, the election shall be closed. Section 708. Resolution to incur bonded indebtedness; notice of election; publication. The resolution provided for in Section 707 shall constitute the notice of such special bond election and such resolution shall be published in a newspaper of general circulation circulating within the special improvement district. Section 709. Ballot propositions. Propositions relating to the levy of a special tax, the incurring of bonded indebtedness, or to establish or.change an appropriations limit, or any combination thereof, under this Code, may be combined into one ballot proposition as determined by the City Council. The qualified electors for all of these purposes shall be determined and the election shall be conducted in the same manner as for a special tax election pursuant to Section 316. Section 710. Separate ballots. If the area designated in the resolution adopted pursuant to Section 707 does not include the entire special improvement district, a separate ballot shall be prepared for the vote upon the proposition to authorize bonds and to levy a special tax for payment of such bonds and only the voters entitled thereto shall be given such ballots. Section 711. Revenue anticipation bonds; votes required for issuance. A two-thirds vote shall be required for the issuance of revenue anticipation bonds under authority of this Code. Section 712. Resolution relating to form, execution and issuance of bonds. If the indebtedness is approved by the voters as required under Section 711, the City Council may, by resolution, at the time or times it deems proper, provide for the following: (a) The form of the bonds. (b) The execution of the bonds. (c) The issuance of any part of the bonds. (d) The appointment of one or more banks or trust companies within or outside of the state having the necessary trust powers as trustee, fiscal agent, paying agent, or bond registrar. (e) The execution of a trust agreement or indenture securing the bonds. (f) The pledge or assignment of any revenues of the special improvement district to the repayment of the bonds. (g) The investment of any bond proceeds and other revenues, including special tax revenues, by the trustee or fiscal agent in any securities or obligations described in the resolution, indenture, trust agreement, or other instrument -36- providing for the issuance of the bonds. The. resolution may provide for payment to the United States from any available revenues of a special improvement district of any excess investment earnings required to be rebated by federal law. (h) The date or dates to be borne by the bonds and the time or times of maturity of the bonds and the place or places and time or times that the bonds shall be payable. (i) The interest, fixed or variable, to be borne by the bonds. (j) The denonunations, form, and registration privileges of the bonds. (k) Any other terms and conditions determined by the City Council to be necessary or desirable. Section 713. Action to foreclose liens; cumulative remedy; resolution to diligently pursue foreclosure action; collection of delinquent charges. (a) As a cumulative remedy, if debt is outstanding, the City Council may, not later than four years after the due date of the last installment of principal thereof, order that any delinquent special taxes levied in whole or in part for payment of the debt, together with any penalties, interest, and costs, be collected by an action brought in the superior court to foreclose the lien of special tax. (b) The City Council may, by resolution, adopted prior to the issuance of debt under this Code covenant for the benefit of debt holders to commence and diligently pursue to completion any foreclosure action regarding delinquent installments of any amount levied as a special tax for the payment of interest or principal of any bonds that are issued, or may employ a trustee to do so on behalf of the debt holders. The resolution may specify a deadline for commencement of the foreclosure action and any other terms and conditions the City Council determines reasonable regarding the foreclosure action. (c) Except as provided in Section 718, all special taxes, interest, penalties, costs, fees, and other charges that are delinquent at the time of the ordering of a foreclosure action shall be collected in the action. In the event that a lot or parcel of property has not been sold pursuant to judgment in the foreclosure action at the time that subsequent special taxes become delinquent, -the court may include the subsequent special taxes, interest, penalties, costs, fees, and other charges in the judgment or modified Judgment. Section 714. Credit to tax collector on current tax roll of amount foreclosed; responsibility for amounts not foreclosed; costs of removing sums from tax roll. (a) When any foreclosure actions are ordered, the tax collector shall be credited upon the current tax roll with the amount charged on account of the delinquent special taxes to be sued on, including applicable penalties, interest, and costs, and the tax collector shall be relieved of further duty in regard thereto. Any amounts not the subject of a foreclosure action shall remain collectible by the tax collector. (b) The tax collector may charge the actual cost incurred in removing these sums from the tax roll. This charge shall be added to the costs to be recovered in the foreclosure action. -37- Section 715. Dismissal of action before judgment in foreclosure action; payment of specified amounts. At any time after the tax collector has been relived of his or her duty to collect sums under Section 714 and before judgment in a foreclosure action, the City Council or trustee shall dismiss the action upon payment of all of the following: (a) The amount of any delinquent special taxes together with any penalties, interest, and costs accrued thereon to date of complete payment hereunder. (b) Costs of suit, including, but not limited to, litigation guarantees provided by title companies with respect to all claims of ownership or interest in the subject property. (c) Attorneys' fees authorized by the local agency. (d) The tax collector's costs authorized by subdivision (b) of Section 714. Section 716. Complainant and time for bringing foreclosure action; contents of complaint. The foreclosure action shall be brought in the name of the City or trustee on behalf of the bondholders pursuant to Section 713 and may be brought within the time specified in Section 713. The complaint may be brief and need only include the following allegations: (a) That on a stated date, a certain sum of special taxes, levied against the subject property (describing it) pursuant to this Code, became delinquent. (b) On that date, bonds issued pursuant to this Code, payable in whole or in part by the subject special taxes, were outstanding. (c) That the City Council or trustee has ordered the foreclosure. Section 717. Judgment decree; contents; amount; attorney's fees; application of general foreclosure provisions. Any judgment shall decree the amount of the continuing lien against each parcel to be foreclosed, and shall order the parcel to be sold on execution as in other cases of the sale of the real property by process of the court. The judgment amount shall include reasonable attorneys' fees to be fixed by the court, together with interest, penalties, and other authorized charges and costs (all calculated up to date of judgment). The foreclosure action shall be governed and regulated by the provisions of this Code, and also where not in conflict with this Code, by other provisions of law generally applicable to foreclosure actions. Section 718. Price of property sold. Property sold hereunder may not be sold for less than the amount of the judgment plus postjudgment interest and authorized costs without the consent of the owners of majority by value of the outstanding bonds. Section 719.' Computation errors; validity of special tax installment, interest or penalty. No special tax installment, interest or penalties thereon, or deed shall be held invalid for any error in computation if the error is found to be comparatively negligible, or is found to be in favor of the owner of the real property affected thereby. IK -11 Section 720. Signatures on bonds or coupons; place bonds are payable. The bonds shall be signed by a signatory authorized to so sign by the City Council and shall be countersigned by a signatory authorized to so countersign by the City Council . All signatures on the bonds may be printed, lithographed, or engraved. If any officer whose signature appears on the bonds ceases to be that officer before the delivery of the bonds, his or her signature is as effective as if he or she had remained in office. All bonds shall be payable at the office of the City Treasurer or at the office of any agent designated by the City. Section721. Special tax or charge for outstanding bonded debt. When the City Council provides for the fixing and levying of special taxes and charges for the special improvement district it shall also provide for the fixing and levying of that amount of special taxes and charges within the special improvement district which is required for the payment of the principal of an interest on any outstanding bonded debt of the special improvement district, including any necessary replenishment or expenditure of bond reserve funds or accumulation of funds for future bond payments, including any amount required by federal law to be rebated to the United States on that bonded debt. The special tax or charge shall be levied and collected by the same officers and at the same time and in the same manner that all other special taxes and charges are levied and collected for the special improvement district or in any other manner specified by the City Council. The special taxes and charges shall not exceed the authority granted by Article III and Article IV. All of the collections for payment of principal and interest on bonds shall be paid into the special improvement district bond fund and reserve or other fund for the particular special improvement district and shall be used solely for the payment of the principal of and interest on the outstanding bonds of the special improvement district. Section 722. Action to determine validity of bonds or special tax levy. An action to determine the validity of bonds issued pursuant to this Code or the validity of any special taxes levied pursuant to this Code may be brought pursuant to Chapter 9 (commencing with Section 860) of Title 10 of Part 2 of the California Code of Civil Procedure but shall, notwithstanding the time limits specified in Section 860 of the California Code of Civil Procedure, be commenced within 30 days after the voters approve the issuance of the bonds or the special tax if the action is brought by an interested person pursuant to Section 863 of the California Code of Civil Procedure. Any appeal from a judgment in that action or proceeding shall be commenced within 30 days after entry of judgment. Section 723. Sale of bonds; bids and bidding. The City may sell the bonds at public or private sale. However, all bonds sold at public sale shall be sold on sealed proposals to the highest bidder, after advertising for bids by publication of notice of sale pursuant to Section 307, not less than 10 days prior to the date of sale in a newspaper of general circulation circulating in the City. If no bids are received or if the City Council determines that the bids received are not satisfactory as to price or responsibility of the bidders, the City Council may reject all bids received, if any, and either readvertise or sell the bonds at private sale. Section 724. Variable interest rate. The City Council may provide that bonds shall bear a variable interest rate, and for the manner and intervals in which the rate shall vary. The variable rate shall not exceed the maximum rate permitted by Section _ of the California Government Code or any other applicable provision of law limiting the maximum interest rate on bonds. -39- Section 725. Force, value and use of bonds; exemption from state taxation. Any bonds issued by a district organized under the provisions of this Code are hereby given the same force, value and use as bonds issued by any municipality and shall be exempt from all taxation within the state. Section 726. Refunding bonds; resolution. The City Council may, by resolution, issue new bonds to refund any or all of the district bonds outstanding or improvement area bonds outstanding that have been issued pursuant to this article. Section 727. Limitation on issuance of refunding bonds; principal amount of refunding bonds. Refunding bonds shall not be issued if the total net interest cost to maturity on the refunding bonds plus the principal amount of the refunding bonds exceeds the total net interest cost to maturity on the bonds to be refunded plus the principal amount of the bonds to be refunded. Subject to such limitations, the principal amount of the refunding bonds may be more than, less than, or the same as the principal amount of the bonds to be refunded. Section 728. Reduction of bonded indebtedness by amount of issued refunding bonds. The total authorized amount of the bonded indebtedness of a district or an improvement area therein, as approved by the qualified voters thereof, shall not be reduced by the principal amount of any refunding bonds issued to refund any or all outstanding bonds of the district or improvement area. Section 729. Refunding bonds; issuance without repetition of procedures required for approval of original bond issue. Except as otherwise provided in this article, the City Council may issue refunding bonds without repeating any of the procedures required for the approval of the original bond issue. Section 730. Refunding bonds; resolution for issuance. If the City Council determines to issue refunding bonds pursuant to this article it shall adopt a resolution providing for their issuance. The resolution shall: . (a) Describe the bonds being refunded and state the date on which it is anticipated that the exchange or purchase necessary to effect the refunding will occur. (b) Fix the date of the refunding bonds. (c) Designate the denomination or denominations of the refunding bonds. (d) Fix the minimum rate or rates of interest to be paid on the refunding bonds. (e) Fix the maturity dates of the refunding bonds, which shall not exceed the latest maturity date of the bonds being refunded. (f) Designate the place or places of payment of principal and interest on the refunding bonds and on the bonds to be refunded. (g) Describe the form of the refunding bonds. 1018 (h) State the costs of issuing the refunded bonds. Section 731. Refunding bonds; exchange or sale. The City Council may sell the refunding bonds at public or private sale. The proceeds of any sale of refunding bonds shall be applied as provided in this article. Section 732. Amount of proceeds and investments in funding fund. The proceeds of the refunding bonds and the earnings thereon shall be in an amount sufficient to meet either the requirements of paragraph (a) or paragraph (b) at the time of issuance of the refunding bonds, as certified by a certified public accountant licensed to practice in this state. (a) The proceeds (including any amounts in any reserve fund established for the bonds to be refunded and not needed for purposes of the refunding bonds) and investments, together with any interest or other gain to be derived from any such investment, shall be in an amount sufficient to pay the principal, interest, and redemption premiums, if any, on the refunded bonds as they become due or at designated dates prior to maturity and the costs of issuance of the refunding bonds. (b) The proceeds (including any amounts in any reserve fund established for the bonds to be refunded and not needed for purposes of the refunding bonds) and investments, together with any interest or other gain to be derived from any such investment, shall be in an amount sufficient to pay the principal, interest, and redemption premiums, if any, on the refunding bonds prior to the maturity of the bonds to be refunded or prior to a designated date or dates before the maturity of the bonds to be refunded, the principal and any redemption premiums due on the refunded bonds at maturity or upon that date or dates, and the designated costs of issuance of the refunding bonds. Section 733. Refunding bonds; use of savings; reduction of tax levy. Any savings achieved through the issuance of refunding bonds shall be used to reduce the special taxes which were levied to retire the bonds being refunded. At the time the City Council makes a determination to issue the refunding bonds, it shall determine and cause to be made any reductions in the annual tax in the district, which reduction shall be made on a pro rata basis. Section 734. Callable bonds. Any bonds may be made callable in the document providing for their terms. When bonds are made callable a statement to that effect shall be set forth on the bonds. Callable bonds may be redeemed on any interest payment date prior to their fixed maturity in the amounts, manner and prices prescribed in the document providing for their terms. Section 735. Borrowing money in anticipation of sale of bonds; issuance of negotiable bond anticipation notes; renewal of notes. (a) The City Council may, by resolution and without the necessity of calling and holding an election, borrow money in anticipation of the sale of the bonds which have been authorized pursuant to this article, but which have not been sold and delivered, issue negotiable bond anticipation notes therefor, and renew the notes from time to time. The maximum maturity of any such -41- notes, including the renewals thereof, shall not exceed five years from the date of delivery of the original notes. (b) The principal and interest on the notes may be paid from any money available for their payment. Any portion of the principal or interest which is due and payable shall be paid from the proceeds of the next sale of bonds in anticipation of which the notes were issued. (c) The proceeds of notes issued pursuant to this section may be used for any purpose for which the bonds in anticipation of which the notes were issued may be used. (d) The notes shall not be issued in any amount in excess of the aggregate principal amount of bonds which have been authorized to be issued, less the amount of any bonds of such authorized issue which have been previously sold and less the amount of other bond anticipation notes issued previously and outstanding at that time. (e) The City Council may, in its resolution authorizing the issuance of notes, provide that the note shall be subject to call and redemption prior to maturity, at the option of the City, at such price or prices as may be fixed in the resolution. The resolution shall fix the method of giving notice of redemption to the holders of notes to be redeemed and the price or prices at which the note shall be subject to redemption. Any notes that are subject to call and redemption prior to maturity shall contain a recital to that effect and no note shall be subject to call or redemption prior to its fixed maturity date unless it contains that recital. (f) The notes shall be issued and sold in the same manner as the bonds. (g) The notes and the resolution or resolutions authorizing the same may contain any provisions, conditions, or limitations which a resolution of the City Council may contain. (h) The City Council shall, in its resolution authorizing the issuance of notes, provide a remedy if the anticipated bonds cannot be sold at the time or in the amounts specified in the resolution, or if any default occurs with respect to the notes. Any remedy which is so provided shall limit the obligations of property owners within the special improvement district to the special tax authorized and levied pursuant to this Code, except that the City Council may enter into an agreement with any of the property owners within the district pledging some or all of the real property of those property owners who are a party to the agreement as additional security for the notes. The City Council may authorize the levy of supplemental special tax in an amount sufficient to secure a note issued pursuant to this section, if that special tax is fully described as to the rate, method of apportionment, and conditions under which it may be levied in the resolution of intention prepared pursuant to Section 305. This special tax shall be subject to the procedures and voting requirements for any special tax levied under the authority of this Code. -42- Section 3. This Ordinance shall be in full force and effect from and after the expiration of thirty (30) days from the date of its final passage. Attest: City Clerk Mayor I, the undersigned, hereby certify that the foregoing Ordinance was duly and regularly adopted and passed by the Council of the City of Newport Beach in regular meeting assembled on the day of , 1994 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 , 1994. City Clerk -43- Agenda #4 -3 - CHAPTER CITY OF NEWPORT BEACH SPECIAL IMPROVEMENT DISTRICT FINANCING CODE ARTICLE I DEFINITIONS Section 101: Definitions Unless the context otherwise requires, the definitions contained in this article shall govern the construction of this Code. LiL "CIOSA Agreement') means the Circulation Improvement and Open Space Agreement, dated June 30, 1993 by and between the City of Newport Beach and The Irvine Company as the same may be amended from time to time in accordance with its terms. Ib1 11CIOSA Property" means the real property defined as the "Property" in the CIOSA Agreement. +a+LL "City" means the City of Newport Beach. {b}_Ld L "Clerk" means the City Clerk of the City of Newport Beach. +e} -Le I "Cost" means the expense of constructing or purchasing the public facility and of related land, the right-of- way, easements, including incidental expenses, and the cost of providing authorized services, including incidental expenses. {e}jfj I'Debtll means any binding obligation to pay or repay a sum of money, including obligations in the form of bonds, certificates of participation, long-term leases, loans from government agencies, or loans from banks, other financial institutions, private businesses, or individuals, or long-term contracts. +f+_Lgl IlIncidental expense" includes all of the following: (1) The cost of planning and designing public facilities to be financed pursuant to this Code, including the cost of environmental evaluations of those facilities. (2) The costs associated with the creation of the special improvement district, issuance of bonds, determination of the amount of taxes, collection of taxes, payment of taxes, or costs otherwise incurred in order to carry out the authorized purposes of the special improvement district. (3) Any other expenses incidental to the construction, completion, and inspection of the authorized work. {9}Lha IlLandownerl' or "owner of land1l means any person shown as the owner of land on the last equalized assessment roll or otherwise know to be the owner of the land by the City. The City Council has no obligation to obtain other information as to the ownership of the land, and its determination of ownership shall be final and conclusive for the purposes of this Code. A public agency is not a landowner or owner of land for purposes of this Code. +h-yLi , ('Legislative bodyll means the legislative body or governing board of any local agency. {i}-Cdl "Local agency" means any city or county, whether general law or chartered, special district, school district, joint powers entity created pursuant to Chapter 5 (commencing with Section 6500) of Division 7 of Title 1 of the California Government Code, or any other municipal corporation, district, or political subdivision of the state. -F3-}-LkJ "Ratell means a single rate of tax or a schedule of rates. -F1+JnJ Special improvement district" means a legally constituted governmental entity established pursuant to this Code for the sole purpose of financing facilities and services. ARTICLE II GENERAL PROVISIONS Section 201: Short Title. This ordinance shall be known and may be cited as the "City of Newport Beach Special Improvement District Financing Code," and shall be referred herein as the "Code." Section 202: Municipal and State affairs; authority conferred by Code; applicability of laws. This Code is adopted pursuant to Section 200 of the Charter of the City of Newport Beach. In proceedings had pursuant to this Code which are a municipal affair, any general laws referred to in this Code are deemed a part of this Code. In the event that any proceeding had pursuant to this Code shall be adjudged a state affair, it is declared to be the intention that the proceedings were had pursuant to any applicable general law or laws. This Code provides an alternative method of financing certain public capital facilities and services. The provisions of this Code shall not affect or limit any other provisions of law authorizing or providing for the furnishing of governmental facilities or services or the raising of revenue for these purposes. The City may use the provisions of this Code instead of any other method of financing part or all of the cost of providing the authorized kinds of capital facilities and services. Section 203: conflicting provisions; severability. Any provision in this Code which conflicts with any general law or act shall prevail over the other such provision in connection with any proceedings taken pursuant to this Code. In the event any portion of this Code shall be declared illegal, unenforceable or unconstitutional, such provision shall be deemed severable from the rest of the provisions of this Code. Section 204: Actions or determinations by local agency. The City Council may take any actions or make any determinations which it determines are necessary or convenient to carry out the purposes of this Code and which are not otherwise prohibited by law. Section 205: Financing powers of districts; Financing, purchase, construction, expansion, improvement, rehabilitation, or planning and design of public improvements, public facilities, or property interests. A special financing district may finance, in whole or in part, the purchase, construction, expansion, improvement, or rehabilitation of any public improvement, public facility, or interest in real property, provided the improvement, facility or property interest has an estimated useful life of three years or longer and provided further that the public improvement, public facility or property interests benefits all or a portion of the CIOSA property. A special improvement district may also finance planning or design work that is directly related to any public improvement, public facility or interest in real property described above. The public improvement, public facility, or interest in real property need not be physically located within the district. A special financing or improvement district may established to finance improvements, facilities, or property interests including, but not limited to, the following: (a) The construction of circulation system improvements that satisfy the criteria in CIOSA; (b) The construction of public improvement or public facilities which directly benefit one or more of the CIOSA properties; (c) Any public improvement or project specifically referenced in, or contemplated by, CIOSA. ** Section 206 and Section 209 will be deleted, and the remainder of Sections in Article III will be renumbered. 91\ordinan\spdistf2.ord