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1 <br /> <br /> 2 <br /> <br /> 3 <br /> <br /> 4 <br /> <br /> 5 <br /> <br /> 6 <br /> <br /> 7 <br /> <br /> 8 <br /> <br /> 9 <br /> <br />10 <br /> <br />11 <br /> <br />12 <br /> <br />13 <br /> <br />14 <br /> <br />15 <br /> <br />16 <br /> <br />17 <br /> <br />18 <br /> <br />19 <br /> <br />20 <br /> <br />21 <br /> <br />22 <br /> <br /> 23 <br /> <br /> 24 <br /> <br /> 25 <br /> <br /> 26 <br /> <br /> 27 <br /> <br /> 28 <br /> <br />RESOLUTION NO. 20330 <br /> <br />RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />RIVERSIDE DETERMINING THE NECESSITY FOR <br />COMMUNITY FACILITIES DISTRICT NO. 2002-1 TO INCUR A <br />BONDED INDEBTEDNESS IN AN AGGREGATE PRINCIPAL <br />AMOUNT NOT TO EXCEED $2,000,000, AND CALLING A <br />SPECIAL ELECTION FOR THE COMMUNITY FACILITIES <br />DISTRICT ON A PROPOSITION FOR INCURRING SUCH <br />BONDED INDEBTEDNESS <br /> <br /> WHEREAS, on December 10, 2002, the City Council of the City of Riverside (the <br />"City Council"), pursuant to the Mello-Roos Community Facilities Act of 1982, as amended, Chapter <br />2.5 (commencing with Section 53311) of Part 1 of Division 2 of Title 5 of the California Government <br />Code (the "Act"), adopted Resolution No. 20321 declaring the necessity for Community Facilities <br />District No. 2002-1 of the City of Riverside, County of Riverside, State of California (the "District"), <br />to incur a bonded indebtedness for the purpose of financing the payment of the amount necessary <br />to pay, repay or defease the obligation of property in the District to pay bonded indebtedness secured <br />by special taxes levied on such property, as authorized by Section 53313.5(g) of the California <br />Government Code; and <br /> <br /> WHEREAS, notice of the hearing was published and mailed as required by law, and <br />on January 14, 2003, at the time and place of the hearing, as set forth in Resolution No. 20321 and <br />the notice thereof, the City Council conducted the hearing and afforded all persons interested, <br />including persons owning property within the District, an opportunity to be heard on the proposed <br />authorization to incur bonded indebtedness, and no protests were received; and <br /> <br /> WHEREAS, on January 14, 2003, at the conclusion of the hearing, the City Council <br /> adopted the resolution of formation pursuant to Section 53325.1 (a) of the California Government <br /> Code (the "Resolution of Formation"), establishing Community Facilities District No. 2002-1 of the <br /> City of Riverside, County of Riverside, State of California; and <br /> <br /> WHEREAS, the City Council has determined that it is necessary for the District to <br /> incur a bonded indebtedness for the purpose of financing the payment of the amount necessary to <br /> pay, repay or defease the obligation of property in the District to pay bonded indebtedness secured <br /> by special taxes levied on such property as authorized by Section 53313.5(g) of the California <br /> <br /> <br />