Laserfiche WebLink
1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />CITY ATTORNEY'S OFFICE <br />3750 UNIVERSITY AVE., STE 250 <br />RIVERSIDE, CA 92501 <br />(951) 826-5567 <br />ORDINANCE NO. 7643 <br />AN ORDINANCE OF THE CITY OF RIVERSIDE, CALIFORNIA, <br />LEVYING SPECIAL TAXES TO BE COLLECTED DURING FISCAL <br />YEAR 2023-2024 WITHIN IMPROVEMENT AREA NO. 1 OF <br />COMMUNITY FACILITIES DISTRICT NO. 2006-1 (RIVERWALK <br />VISTA) OF THE CITY OF RIVERSIDE, CALIFORNIA, AND <br />DECLARING THIS ORDINANCE TO BE EFFECTIVE UPON <br />ADOPTION. <br />The City Council of the City of Riverside does ordain as follows: <br />Section 1: Findings. The City Council finds as follows: (a) pursuant to the Amended and <br />Restated Rates and Method of Apportionment of Special Tax for Improvement Area No. 1 of <br />Community Facilities District No. 2006-1 (Riverwalk Vista) of the City of Riverside <br />("Improvement Area No. 1"), the City Council is authorized to levy Special Taxes in any Fiscal <br />Year for the following purposes (i) to pay debt service on all outstanding Bonds (taking into <br />consideration the amount of funds that may be available pursuant to the Indenture to pay such <br />debt service); (ii) to pay periodic costs for the Bonds, including, but not limited to, costs related <br />to credit enhancement and rebate payments; (iii) to pay Administrative Expenses; (iv) to provide <br />an amount equal to reasonably anticipated delinquencies in the collection of Special Taxes; (v) to <br />provide any amount required to replenish the reserve fund for the outstanding Bonds; and (vi) to <br />provide any amounts that the City Council determines are necessary to pay the costs on the <br />provision, construction and acquisition of public facilities and/or to accumulate funds therefor; <br />(b) it is necessary that the City Council levy special taxes during Fiscal Year 2023-2024 on all <br />Assessor's Parcels of Developed Property in Improvement Area No. 1 for the purposes of paying <br />the costs of providing, constructing and acquiring public facilities and accumulating funds <br />therefor, and paying Administrative Expenses; and (c) the words set forth above and hereinafter <br />with initial letters capitalized are defined terms in the aforementioned Amended and Restated <br />Rates and Method of Apportionment of Special Tax. <br />Section 2: Levy of Special Taxes. Special Taxes shall be and hereby are levied for <br />Fiscal Year 2023-2024 on all parcels of Developed Property within Improvement Area No. 1, <br />which are identified in Exhibit "A" attached hereto, and in the amount set forth for each such <br />