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I ORDINANCE NO. 6481 2 AN ORDINANCE OF THE CITY OF RIVERSIDE, CALIFORNIA, LEVYING SPECIAL TAXES TO BE COLLECTED DURING FISCAL YEAR 1999/2000 3 FOR THE PAYMENT OF THE PRINCIPAL OF AND INTEREST ON AND ADMINISTRATIVE EXPENSES WITH RESPECT TO THE BONDS OF 4 COMMUNITY FACILITIES DISTRICT NO. 86 -1 (ORANGECREST) OF THE CITY OF RIVERSIDE, CALIFORNIA; AND DECLARING THIS ORDINANCE 5 TO BE EFFECTIVE UPON ADOPTION. 6 The City Council of the City of Riverside does ordain as follows: 7 Section 1 : Findings It is necessary that the City Council of the City of Riverside levy special 8 taxes pursuant to Sections 53340 and 53358 of the Government Code for the payment of the 9 principal of and interest on the outstanding bonds of Community Facilities District No. 86 -1 10 (Orangecrest) of the City of Riverside, California (the "District "), and for the payment of 11 administrative expenses incurred in connection with the levy and collection of said special taxes and 12 the payment of such principal and interest. Said special taxes are levied without regard to property 13 valuations. f ^' 14 Section 2 : Levy of Special Taxes Special taxes shall be and are hereby levied for the fiscal 15 year 1999/2000 on all parcels of real property within the District which are subject to taxation, 16 which are identified in Exhibit "A" attached hereto, and in the amount set forth for each such parcel 17 in said Exhibit "A ". Pursuant to Sections 53340 and 53358, such special taxes for Fund 68 -2721 18 shall be collected in the same manner as ordinary ad valorem property taxes are collected, and shall 19 be subject to the same penalties and the same procedure, sale, and lien priority in case of 20 delinquency as is provided for ad valorem taxes. 21 Section 3 : Transmittal to County The City Clerk shall upon adoption of this ordinance cause 22 a copy to be transmitted to the County Auditor of the County of Riverside together with a request 23 that the special taxes as levied hereby be collected on the tax bills for the parcels identified in 24 Exhibit "A" hereto, along with the ordinary ad valorem property taxes to be levied on and collected 25 from the owners of said parcels. 26 Section 4 : Publication and Effective Date The City Clerk shall certify to the adoption of this 27 ordinance and cause publication once in a newspaper of general circulation in accordance with City Attorney's Office 3900 Main Street Riverside, CA 92522 (909) 782 -5567