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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 RESOLUTION NO. 19414 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RIVERSIDE DECLARING THE RESETS OF THE SPECIAL ELECTION FOR I/V[PROVEMENT AREA NO. 2 OF COMMUNITY FACILITIES DISTRICT NO. 86-1 OF THE CITY OF RIVERSIDE ON THE PROPOSITION WITH RESPECT TO WHETHER THE METHODOLOGY FOR DETERMINING AND APPORTIONING ANNUAL AMOUNTS OF SPECIAL TAXES AND MAXIMUM ANNUAL AMOI2qTS OF SPECIAL TAXES FOR SUCH COMMUNITY FACILITIES DISTRICT SHOULD BE MODIFIED AND WHETHER NEW SPECIAL TAXES SHOULD BE LEVIED ON PROPERTY WrrHIN SAiD IMPROVEMENT AREA NO. 2 WHEREAS, on November 10, 1998, the City Council (the "City Council") of the City of Riverside (the "City") adopted Resolution No. 19381, a resolution of consideration pursuant to Section 53334 of the California Government Code ("Resolution No. 19381"), commencing proceedings for the consideration of ordering the alteration of the Methodology for Determining and Apportioning Annual Amounts of Special Taxes and Maximum Annual Amounts of Special Taxes (the "Methodology") for Community Facilities District No. 86-1 of the City of Riverside, California (the "District"); and WHEREAS, by Resolution No. 19381 the City Council determined that the area which shall be subject to the proceedings conunenced thereby to authorize the alteration of the Methodology and the levy of new special taxes to pay the principal of and interest on such bonds is the Property, as described in Exhibit "A" attached to Resolution No. 19381, which shall be known for purposes of such proceedings, and pursuant to Section 53350 of the Government Code is designated as, "Improvement Area No. 2 of Community Facilities District No. 86-1 of the City of Riverside, County of Riverside, State of California" ("Improvement Area No. 2"), and that all proceedings for purposes of the election on the proposition with respect to the alteration of the method of apportionment of the special taxes and the levy of the new special taxes and for the purpose of levying such new special taxes shall apply only to Improvement Area No. 2; and WHEREAS, Resolution No. 19381, among other things, scheduled a public hearing for 2:00 p.m. on December 15, 1998 in th,: City Council Chamber of the City on such proposed alterations; and WHEREAS, on December 8, 1998, the City Council adopted Resolution No. 19401 determining that said public hearing should be postponed and rescheduled and would be held at 9:00 RVPL'BxRTA\54028