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HomeMy WebLinkAboutCC Reso 2022-35 RESOLUTION NO. 2022-35 RESOLUTION TO FORM THE CITY OF CATHEDRAL CITY COMMUNITY FACILITIES DISTRICT NO. 2022-1 (CATHEDRAL CITY PARK & RECREATION SERVICES) AND LEVY A SPECIAL TAX WITHIN THE CFD TO FUND PUBLIC SERVICES AND FINANCE THE DEVELOPMENT OF CERTAIN PUBLIC FACILITIES WHEREAS, the City Council (the"Council") of the City of Cathedral City (the"City") has previously adopted local goals and policies related to the formation of community facilities districts under the Mello-Roos Community Facilities Act of 1982, as amended, Chapter 2.5 of Part 1 of Division 2 of Title 5, commencing at Section 53311, of the California Government Code (the "Act"); and WHEREAS, the Desert Recreation District (the "District") currently provides park and recreation services in the region surrounding the City, but not currently within the City, and plans to submit an application to the Riverside County Local Agency Formation Commission ("LAFCO") to annex the territory within the City into the service area of the District; and WHEREAS, under Section 53316.2 of the Act, a community facilities district may finance facilities to be owned or operated by a public agency other than the agency that created the district, or services to be provided by a public agency other than the agency that created the district, or any combination, pursuant to a joint community facilities agreement or a joint exercise of powers agreement adopted pursuant to said section; and WHEREAS, the Council has determined that placing a local revenue measure on the ballot and the successful approval of the measure would provide long-term funding for park and recreation facilities and services to the territory within the City, whether provided by the City or by agreement or LAFCO proceeding involving the District, as contemplated by Section 53316.2 of the Act; and WHEREAS, on June 22, 2022, the Council adopted its Resolution No. 2022-32, "Resolution of Intention to Form a Community Facilities District and Levy a Special Tax in the City of Cathedral City Community Facilities District No. 2022-1 (Cathedral City Park & Recreation Services), to Fund Public Services and Finance the Development of Certain Public Facilities" (the "Resolution of Intention"), stating its intention to form the "City of Cathedral City Community Facilities District No. 2022-1 (Cathedral City Park& Recreation Services)" (the "CFD"), pursuant to the Act; and WHEREAS, the Resolution of Intention, describing a map of the proposed boundaries of the CFD, and stating the facilities and services to be provided, and the rate and method of apportionment of the special tax to be levied within the CFD to pay for the facilities and services, including for the principal and interest on bonds proposed to be issued with respect to the CFD, is on file with the City Clerk and the provisions thereof are incorporated herein by this reference as if fully set forth herein; and WHEREAS, on this date, the Council held a noticed public hearing as required by the Act and the Resolution of Intention relative to the proposed formation of the CFD and related matters; and WHEREAS, at the hearing, all interested persons desiring to be heard on all matters pertaining to the formation of the CFD, the facilities and services to be provided therein, the levy of said special tax for the CFD and related matters were heard and a full and fair hearing was held; and WHEREAS, at the hearing, evidence was presented to the Council on said matters before it, including a report caused to be prepared by the City Manager of the City (the "Report") as to the facilities and services to be provided through the CFD and the costs thereof, a copy of which is on file with the City Clerk, and the Council at the conclusion of said hearing is fully advised in the premises; and WHEREAS, written protests with respect to the proposed formation of the CFD, the furnishing of specified types of facilities and services and the rate and method of apportionment of the special taxes have not been filed with the City Clerk by 50% or more of the registered voters residing within the territory of the CFD or property owners of one- half or more of the area of land within the CFD and not exempt from the proposed special tax; and WHEREAS, the special tax proposed to be levied in the CFD to pay for the proposed facilities and services to be provided therein, as set forth in Exhibit B hereto, has not been eliminated by protest by 50% or more of the registered voters residing within the territory of the CFD or the owners of one-half or more of the area of land within the CFD and not exempt from the special tax. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF CATHEDRAL CITY DOES HEREBY RESOLVE AS FOLLOWS: Section 1. Recitals Correct. The foregoing recitals are true and correct. Section 2. No Majority Protest. The proposed special tax to be levied within the CFD has not been precluded by majority protest pursuant to section 53324 of the Act. Section 3. Prior Proceedings Valid. All proceedings taken by the Council in connection with the establishment of the CFD, and the levy of the special tax have been duly considered and are hereby found and determined to be valid and in conformity with the Act. Section 4. Name of CFD; Establishment. The community facilities district designated "City of Cathedral City Community Facilities District No. 2022-1 (Cathedral City Park & Recreation Services)" is hereby established pursuant to the Act. 2 Section 5. Boundaries of CFD. The boundaries of the CFD, as set forth in the map of the CFD heretofore recorded in the Office of the Riverside County Assessor- County Clerk-Recorder on July 7, 2022, in Book 89 at Page 22 of Maps of Assessment and Community Facilities Districts, are hereby approved, are incorporated herein by reference and shall be the boundaries of the CFD. The boundaries of the CFD are coterminous with the boundaries of the City. Section 6. Description of Facilities and Services. The type of public facilities proposed to be financed by the CFD and pursuant to the Act shall consist of those items listed as facilities on Exhibit B hereto (the "Facilities") and the type of public services proposed to be funded by the CFD and pursuant to the Act shall consist of those items listed as services on Exhibit B hereto (the "Services"). The financing of the costs of Facilities may include, without limitation, the payment of principal of and interest on bonds or other indebtedness together with all direct, indirect, periodic, and/or other related costs (including, without limitation, costs of administering the CFD, levying the Special Tax and administering the bonds, and establishing and replenishing reserve funds). Section 7. Special Tax. a. Except to the extent that funds are otherwise available to the CFD to pay for the Services and/or Facilities, including the principal and interest as it becomes due on bonds issued by City for the CFD to construct and/or acquire the Facilities, a special tax ("Special Tax") sufficient to pay the costs thereof, secured by recordation of a continuing lien against all non-exempt real property in the CFD, will be levied annually within the CFD, and collected in the same manner as ordinary ad valorem property taxes, or in such other manner as the Council or its designee shall determine, including direct billing of the affected property owners. b. The proposed rate and method of apportionment of the Special Tax among the parcels of real property within the CFD, in sufficient detail to allow each landowner within the proposed CFD to estimate the maximum amount such owner will have to pay, are described in the Rate and Method of Apportionment attached hereto as Exhibit A and hereby incorporated herein (the "Rate and Method"). The Council hereby finds and determines that such clarification will not increase the maximum special tax or probable special tax to be paid by the owner of any lot or parcel. It is anticipated that the Special Tax will be billed as a separate line item on the regular property tax bill. However, the Council reserves the right, under Section 53340 of the Act, to utilize any method of collecting the Special Tax which it shall, from time to time, determine to be in the best interests of City, including, but not limited to, direct billing by the City to the property owners and supplemental billing. c. The Special Tax shall be levied in the amount and for the duration set forth in the Rate and Method. Under no circumstances shall the Special Tax 3 levied against any parcel in the CFD to be used for private residential purposes be increased as a consequence of delinquency or default by the owner of any other parcel or parcels within the CFD by more than 10%. d. Except as may otherwise be provided by law or by the Rate and Method, the following shall be omitted from the levy of the Special Tax: (i) all lands owned or held via possessory interest by any public entity, including tribal governments, the United States, the State of California and the City, or any departments or political subdivisions thereof, and (ii) any other parcels exempt from the levy of the Special Tax under applicable law. In the event that a portion of the property within the CFD shall become for any reason exempt, wholly or in part, from the levy of the Special Tax, the City will, on behalf of the CFD, increase the levy to the extent necessary upon the remaining property within the CFD which is not exempt in order to yield the required debt service payments and other annual expenses of the CFD, if any, subject to the provisions of the Rate and Method. Section 8. Responsible Official. The Administrative Services Director of the City, 68700 Avenida Lalo Guerrero, Cathedral City, CA 92234, Tel: 760-770-0354, is the officer of the City who will be responsible for preparing annually a current roll of special tax levy obligations by assessor's parcel number and who will be responsible for estimating future special tax levies pursuant to the Act. Section 9. Tax Lien. Upon recordation of a notice of special tax lien pursuant to Section 3114.5 of the Streets and Highways Code of California, a continuing lien to secure each levy of the special tax shall attach to all nonexempt real property in the CFD and this lien shall continue in force and effect until the special tax obligation is prepaid and permanently satisfied to the extent allowed under the Rate and Method and the lien canceled in accordance with law or until collection of the tax by the City ceases. Section 10. Appropriations Limit. In accordance with the Act, the initial annual appropriations limit, as defined by subdivision (h) of Section 8 of Article XIII B of the California Constitution, of the CFD is hereby preliminarily established at$39,000,000, and said appropriations limit shall be submitted to the qualified electors of the CFD as hereafter provided. The proposition establishing said annual appropriations limit shall become effective if approved by the qualified electors voting thereon and shall be adjusted in accordance with the applicable provisions of the Act. Section 11. Election. Pursuant to the provisions of the Act, the proposition of the levy of the special tax and the proposition of the establishment of the appropriations limit specified above shall be submitted to the qualified electors within the CFD at an election. The time, place and conditions of the election shall be as specified by a separate resolution of the Council. Section 12. Effective Date. This resolution shall take effect upon its adoption. 4 PASSED, APPROVED AND ADOPTED this 3rd day of August, 2022, by the following vote: AYES: Councilmembers Gregory, Ross and Carnevale; Mayor Pro Tem Lamb and Mayor Gutierrez NOES: None ABSENT: None ABSTAIN: None Ernesto Gutierrez, Mayor ATTEST: kjAL4A JVVi 1L ,C Tracey R' rm��osillo, City Clerk APPROVED AS TO FORM: Eric S. Vail, City Attorney EXHIBIT A RATE, METHOD OF APPORTIONMENT AND MANNER OF COLLECTION OF SPECIAL TAX See attached. Exhibit A Page 1 RATE AND METHOD OF APPORTIONMENT FOR CITY OF CATHEDRAL CITY COMMUNITY FACILITIES DISTRICT NO.2022-1 (CATHEDRAL CITY PARK&RECREATION SERVICES) A Special Tax, as hereinafter defined, shall be levied on all Assessor's Parcels in the City of Cathedral City (the "City") Community Facilities District No. 2022-1 (Cathedral City Park & Recreation Services) and collected each Fiscal Year commencing in Fiscal Year 2023/24, in an amount determined by the City or its designee,through the application of the Rate and Method of Apportionment as described below. All of the real property in CFD No. 2022-1, unless exempted by law or by the provisions hereof,shall be taxed for the purposes,to the extent and in the manner herein provided. A. DEFINITIONS The terms hereinafter set forth have the following meanings: "Accessory Dwelling Unit" means a secondary residential unit of limited size, as defined in California Government Code Section 65852.2 as that may be amended from time to time, that is accessory to a single-unit dwelling.The ADU of Developed Property may be on the same Assessor's Parcel as the single- unit dwelling or on a separate Assessor's Parcel. For purposes of clarification,where an ADU and primary Unit are on the same Assessor's Parcel,the ADU located on such Assessor's Parcel is considered a separate Unit from the primary Unit on such Assessor's Parcel for purposes of the Special Tax.Should an Assessor's Parcel contain only an ADU,such Assessor's Parcel will be taxed as an ADU only. "Acre" or"Acreage" means that acreage shown on the Assessor's Parcel Map or in the Assessor's Data for each Assessor's Parcel. In the event that the Assessor's Parcel Map or Assessor's Data shows no acreage,the Acreage for any Assessor's Parcel may be determined by the CFD Administrator based upon the applicable Final Subdivision Map or parcel map,or by using available spatial data and GIS. "Act" means the Mello-Roos Community Facilities Act of 1982,as amended, being Chapter 2.5, Division 2 of Title 5 of the Government Code of the State. "Administrative Expenses" means the following actual or reasonably estimated costs directly related to the administration of CFD No. 2022-1: the costs of any paying agents/fiscal agents/trustees related to Bond payments (including the fees and expenses of its counsel), banking and management;the costs of computing the Special Tax Requirement,the Special Taxes and of preparing the collection schedules for the Special Taxes; the costs of collecting the Special Taxes, including any charges levied by the County Auditor's Office,Tax Collector's Office or Treasurer's Office;the costs of the City or designee in complying with the disclosure requirements of the California Government Code (including the Act) and the federal securities laws;costs of responding to public inquiries regarding the Special Taxes;the costs of the City or designee related to an appeal of the Special Taxes or interpretation of the Rate and Method of Apportionment;amounts needed to pay rebate to the federal government related to Bonds;and the costs of commencing and pursuing to completion any foreclosure action arising from delinquent Special Taxes in the City.Administrative Expenses shall also include an allocable share of the salaries of City staff and an allocable portion of City overhead costs relating to the foregoing, or costs of the City in any way related City of Cathedral City June 14,2022 CFD No.2022-1(Cathedral City Park&Recreation Services) Page 1 to the establishment or administration of the City. Administrative Expenses shall also include amounts estimated or advanced by the City or CFD No. 2022-1 for any other administrative purposes of CFD No. 2022-1. "Agricultural Property"means all Assessor's Parcels devoted primarily to agricultural,timber,or livestock uses and being used for the commercial production of agricultural,timber, or livestock products.Typical County Use Codes include those starting with "A" including:A01,AO1R,A02,AO2R, A03,A04,AO4R,A05, AO5R, A06, AO6R, A07, AO7R, A08, AO8R, A09, A10, A1OR, All, A11R, A11R, Al2, Z12R, A13, A13R, A14, A14R,A15,A15R,A16,A17,A18,A19,A20,A21R,A22,A23,A25M,A25MF,A25ML,A25M0,A25MR,A28, A29, A30, AP115, AP999, APA01, APAO1R, APA02, APAO2R, APA03, APA04, APAO4R, APA06, APAO6R, APA07, APAO7R, APA08, APAO8R, APA10, APA1OR, APA11, APA11R, APA12, APA12R, APA13, APA13R, APA14R, APA15, APA15R, APA16, APA17, APA19, APA20, APA21R, APA22, APA25M, APA25MF, APA30, APC27,APRX,APS01,APSO4,CTAO5R,CTA16. "Assessor's Data" means the property characteristic data compiled and maintained by the County Assessor for each Assessor's Parcel, including, but not limited to, Assessor's Parcel Number, Use Code, Acreage,and Units. "Assessor's Parcel" means a lot or parcel shown in an Assessor's Parcel Map with an assigned Assessor's Parcel Number. "Assessor's Parcel Map" means an official map of the County Assessor of the County designating parcels by Assessor's Parcel Number. "Assessor's Parcel Number"or"APN" means,with respect to an Assessor's Parcel,that number assigned to such Assessor's Parcel by the County for purposes of identification. "Authorized Facilities" means the public facilities authorized to be financed, in whole or in part, by CFD No. 2022-1, including by the proceeds of any CFD No. 2022-1 Bonds. The Special Tax to fund Authorized Facilities may only be levied prior to the Transition Year. "Authorized Services" means the services authorized to be funded, in whole or in part, by CFD No. 2022- 1. "Bonds" means bonds or other debt (as defined in the Act), whether in one or more series, issued or assumed by or on behalf of CFD No. 2022-1 under the Act. Bonds also includes any bonds issued to refinance a previous bond issue. "Building Square Footage" means the structural square footage of an Assessor's Parcel as shown in the County Assessor's data or as otherwise known by the CFD Administrator. "CFD Administrator" means an official of the City, or designee thereof, responsible for determining the Special Tax Requirement,and providing for the levy and collection of the Special Taxes. "CFD No. 2022-1" means City of Cathedral City Community Facilities District No. 2022-1 (Cathedral City Park& Recreation Services). "City" means the City of Cathedral City. "City Council" means the City Council of the City, acting as the legislative body of CFD No. 2022-1. City of Cathedral City June 14,2022 CFD No.2022-1(Cathedral City Park&Recreation Services) Page 2 "County" means the County of Riverside. "Debt Service" means for each Debt Year,the total amount of principal and interest due for any Bonds of CFD No. 2022-12022-1. "Debt Year" means each 12-month period designated as such, or by a similar term, in the Indenture for each series of Bonds. "Developed Property" means for each Fiscal Year, all Taxable Property, exclusive of Taxable Public Property,for which the County has assigned a Use Code indicating residential or non-residential use which are not vacant. "District" means Desert Recreation District. "Fiscal Year" means the period starting July 1 and ending on the following June 30. "GIS" or "Geographic Information System" means a system designed to capture, store, manipulate, analyze, manage,and present spatial or geographic data. "Indenture" means the indenture, fiscal agent agreement, resolution, or other instrument pursuant to which Bonds for CFD No. 2022-12022-1 are issued, as modified, amended, and/or supplemented from time to time, and any instrument replacing or supplementing the same. "Maximum Special Tax"means the Maximum Special Tax determined in accordance with Section C below, that can be levied in any Fiscal Year on any Assessor's Parcel of Taxable Property. "Multi-family Residential Property" means all Assessor's Parcels of Developed Property that consist of Units available for lease or rent in a multi-unit building or on a Parcel, including duplex,triplex,fourplex, apartments, mobile home parks and RV parks.Typical County Use Codes include: 30, 33, 34,41, 42, 43, 44,45,46, 100, 103, 104,CT25, MF, MS, MV, MX, MY, MAR04, CTR04. "Non-residential Property" means all Assessor's Parcels of Developed Property used for non-residential purposes such as commercial or industrial use. Possessory interest and golf course property are not included in Non-residential Property.Typical County Use Codes include:80, 115, 120, 122, 130, 131, 132, 140, 150, 151, 152, 153, 160, 161, 170, 172, 180, 182, 183, 191, 200, 201, 202, 210, 220, 221, 223, 230, 232, 250, 251, 305, 310, 320, 321, 322, 323, 350, 351, 352, 353, 361, 600, 602, 603, 611, 612, 614, 615, 620, 621,CO1H,CO2,CO6C,CO7C,CO7M,CO8C,C12F,C19,CarWash,CT115,CT120,CT132, CT140,CT150, CT160,CT170, CT180,CT191,CT200,CT210,CT320, CT321,CT353,CT360,CT361,CT80,OFF132. "Outstanding Bonds" means all Bonds that are outstanding under and in accordance with the provisions of the Indenture. "Property Owner Association Property" means,for each Fiscal Year, any property within the boundaries of CFD No. 2022-12022-1 that is owned by a property owner association, including any master or sub- association,as of January 1 of the prior Fiscal Year. "Proportionately" means for Developed Property that the ratio of the Special Tax levy to the Maximum Special Tax is equal for all Assessors' Parcels of Developed Property within CFD No. 2022-12022-1. For Taxable Contingent Property, "Proportionately" means that the ratio of the actual Special Tax levy to the City of Cathedral City June 14,2022 CFD No.2022-1(Cathedral City Park&Recreation Services) Page 3 Maximum Special Tax is equal for all Assessor's Parcels of Taxable Contingent Property within CFD No. 2022-12022-1. "Public Property"means property within the boundaries of CFD No.2022-1 owned by,irrevocably offered or dedicated to, or for which an easement for purposes of public right-of-way has been granted to the federal government, the State, the County, the City, the City, or any local government or other public agency, provided that any property leased by a public agency to a private entity and subject to taxation under Section 53340.1 of the Act shall be taxed and classified according to its use. "Residential Condominium Property" means, in any Fiscal Year, all Assessor's Parcels of Developed Property with one Unit with a single Assessor's Parcel Number that is a condominium pursuant the definition in Civil Code Section 4125 or a townhouse. Typical County Use Codes include: 21, 27, CT21, MA21. "Single Family Residential Property" means all Assessor's Parcels of Developed Property with a residential structure intended for a single dwelling unit.Typical County Use Codes include:20,28,60,61, 62,63, 64,65,67, MA20,CT20. "Special Tax(es)"means the special tax to be levied in each Fiscal Year on each Assessor's Parcel of Taxable Property within CFD No. 2022-1 to fund the Special Tax Requirement. "Special Tax Requirement" means that amount required in any Fiscal Year for CFD No. 2022-1: Before the Transition Year,to(1)pay Debt Service on all Outstanding Bonds which is due in such Fiscal Year; (2) pay for Authorized Services; (3) pay Administrative Expenses; (4) provide any amount required to establish or replenish a reserve fund in connection with any Bonds; (5) provide any amount required to establish or replenish any operating reserve held by the City for Authorized Services and/or Administrative Expenses; (6) provide an amount equal to reasonably anticipated Special Tax delinquencies based on the delinquency rate for Special Taxes levied in the previous Fiscal Year as determined by the CFD Administrator, as limited by the Act, and without duplicating any amounts described in clauses (4) or (5). The amounts referred to in clauses (1) through (6) of the preceding sentence may be reduced in any Fiscal Year (in the City's sole discretion) by (i) interest earnings on or surplus balances in funds and accounts for Bonds to the extent that such earnings or balances are available to apply against Debt Service pursuant to the Indenture, (ii) proceeds from the collection of penalties associated with delinquent Special Tax, and (iii) any other revenues available to pay Debt Service on the Outstanding Bonds or other indebtedness as determined by the CFD Administrator. Beginning in the Transition Year,to (1) pay for Authorized Services; (2) pay Administrative Expenses; (3) provide any amount required to establish or replenish any operating reserve held by the City for Authorized Services and/or Administrative Expenses; (4) provide an amount equal to reasonably anticipated Special Tax delinquencies based on the delinquency rate for Special Taxes levied in the previous Fiscal Year as determined by the CFD Administrator,as limited by the Act; less(5)a credit for funds available, if any,to reduce the Special Tax levy. "State" means the State of California. City of Cathedral City June 14,2022 CFD No.2022-1(Cathedral City Park&Recreation Services) Page 4 "Tax Exempt Property"means all of the Assessor's Parcels within the boundaries of CFD No.2022-1 which are exempt from the Special Tax pursuant to the Act or Section E below. "Taxable Contingent Property" means any Assessor's Parcel that was previously classified and levied as Taxable Property, but has changed ownership or use such that it would subsequently be classified as Property Owner Association Property or Public Property, or other property, as Tax Exempt Property pursuant to the provisions of Section E. "Taxable Property" means all of the Assessor's Parcels within the boundaries of CFD No. 2022-1 which are not exempt from the Special Tax pursuant to the Act or Section E below. "Timeshare Property" means all Assessor's Parcels of Developed Property which include Units of timeshare estates in a timeshare project pursuant to California Revenue and Taxation Code Section 2188.9.Typical County Use Codes include:TE,TED,TU,TUD. "Transition Event" means the earlier of (i) Fiscal Year 2057/58 or (ii) the Fiscal Year when the CFD Administrator determines that both of the following events have occurred(i)all Bonds secured by the levy and collection of the Special Tax in CFD No. 2022-1 have been fully repaid and the City determines that no additional Bonds are to be issued, (ii) all Administrative Expenses from prior Fiscal Years have been paid or reimbursed to the City. "Transition Year" means the first year in which the CFD Administrator determines that the Transition Event occurred in the prior Fiscal Year. "Trustee" means the trustee or fiscal agent under the Indenture. "Undeveloped Property" means, for each Fiscal Year, all Taxable Property not classified as Developed Property,or Taxable Contingent Property. "Unit"means an individual residential living space.The number of Units assigned to each Assessor's Parcel may be determined by(i)referencing Assessor's Data,(ii)site surveys and physical unit counts,and/or(iii) reviewing City building permit data. An Accessory Dwelling Unit shall not be considered a Unit for the purposes of the Special Tax. "Use Code" means that code assigned by the County for the purpose of identifying the primary activity for which an Assessor's Parcel is being used. "Welfare Exempt Property" means,in any Fiscal Year,all Parcels within the boundaries of CFD No. 2022- 01 that have been granted a welfare exemption by the County under subdivision (g)of Section 214 of the Revenue and Taxation Code. B. ASSIGNMENT TO LAND USE CATEGORIES Each Fiscal Year,the CFD Administrator shall determine the valid Assessor's Parcel Numbers for all Taxable Property within CFD No. 2022-1. If any Assessor's Parcel Numbers are no longer valid from the previous Fiscal Year, the CFD Administrator shall determine the new Assessor's Parcel Number or Numbers that are in effect for the current Fiscal Year. To the extent an Assessor's Parcel(s) of Taxable Property are subdivided, consolidated or otherwise reconfigured, the Special Tax rates shall be assigned to the new Assessor's Parcel(s) pursuant to Section C. City of Cathedral City June 14,2022 CFD No.2022-1(Cathedral City Park&Recreation Services) Page 5 Each Fiscal Year,all Assessor's Parcels within CFD No. 2022-1 shall be classified as follows: 1. Each Assessor's Parcel shall be determined to be Taxable Property or Tax Exempt Property. 2. Each Assessor's Parcel of Taxable Property shall be further classified as Developed Property,Taxable Contingent Property, or Undeveloped Property.Taxable Property shall be subject to Special Taxes in accordance with the rate and method of apportionment determined pursuant to Sections C and D below. 3. Each Assessor's Parcel of Developed Property and Taxable Contingent Property shall be further classified as Single Family Residential Property, Accessory Dwelling Unit, Residential Condominium Property, Multi-family Residential Property or Non-residential Property. For Single Family Residential Property the Building Square Footage shall be determined. For Accessory Dwelling Units, Residential Condominium Property and Multi-family Property,the number of Units shall be determined. C. MAXIMUM SPECIAL TAX RATES Notwithstanding the below, under no circumstances will the Special Tax levied in any Fiscal Year against any Assessor's Parcel for which an occupancy permit for private residential use has been issued be increased by more than ten percent above the amount that would have been levied in that Fiscal Year had there never been any such delinquency or default by the owner(s) of any other Assessor's Parcel within CFD No.2022-1. PRIOR TO THE TRANSITION EVENT 1. Developed Property The Maximum Special Tax for each Assessor's Parcel of Developed Property is shown in Table 1. TABLE 1 MAXIMUM SPECIAL TAX FOR DEVELOPED PROPERTY FISCAL YEAR 2023/24 Property Type Maximum Special Tax Per Single Family Residential Property $0.15 Building Square Foot Accessory Dwelling Unit 123.00 Unit Residential Condominium Property 196.00 Unit Multi-family Residential Property 172.00 Unit • Non-residential Property 734.00 Parcel 2. Taxable Contingent Property Maximum Special Tax The Maximum Special Tax for each Assessor's Parcel of Taxable Contingent Property shall be assigned as shown in Table 1 according to the previous Taxable Property type and use. City of Cathedral City June 14,2022 CFD No.2022-1(Cathedral City Park&Recreation Services) Page 6 AFTER THE TRANSITION EVENT The Maximum Special Tax for each Assessor's Parcel that may be levied in any Fiscal Year after the Transition Event is determined as,an amount equal to 100%of the Maximum Special Tax in the Fiscal Year prior to the Transition Year, adjusted for any parcel that prepaid in part their Special Tax by adding an amount equal to the Special Tax that would have been due in the Fiscal Year prior to the Transition Year if such Parcel had not prepaid. D. METHOD OF APPORTIONMENT OF THE SPECIAL TAXES Commencing with Fiscal Year 2023/24 and for each following Fiscal Year, the CFD Administrator shall determine the Special Tax Requirement,and shall levy the Special Tax until the amount of the Special Tax equals the Special Tax Requirement.The Special Tax shall be levied each Fiscal Year as follows: First:The Special Tax shall be levied Proportionately on each Assessor's Parcel of Developed Property at a rate up to 100%of the applicable Maximum Special Tax to satisfy the Special Tax Requirement. Second: If additional monies are needed to satisfy the Special Tax Requirement after the first step has been completed,the Special Tax shall be levied Proportionately on all Taxable Contingent Property at a rate up to 100%of the Maximum Special Tax for Taxable Contingent Property. E. EXEMPTIONS No Special Tax shall be levied on Agricultural Property, Timeshare Property, Public Property and Undeveloped Property. However, should an Assessor's Parcel no longer be classified as Public Property or Undeveloped Property its tax-exempt status will be revoked. In the case of Public Property and pursuant to Section 53317.3 of the Act, if property not otherwise exempt from the Special Tax levied pursuant to this chapter is acquired by a public entity through a negotiated transaction, or by gift or devise, the special tax shall, notwithstanding Section 53340, continue to be levied on the property acquired and shall be enforceable against the public entity that acquired the property. However, the public agency that acquires the property may prepay in part and satisfy the obligation to pay the tax pursuant to Section I below. Taxable Contingent Property shall be subject to the levy of the Special Tax, assigned to a Property Type in accordance with the use of the property,and shall be taxed Proportionately as part of the second step in Section D above, at up to 100%of the applicable Maximum Special Tax. Prior to the Transition Event, any property that is granted a welfare exemption pursuant to Section 53340(c) under the Act under subdivision (g) of Section 214 of the Revenue and Taxation Code prior to the first series of CFD No. 2022-1 Bonds shall be exempt from the Special Tax in each Fiscal Year it is Welfare Exempt Property.Any property that is granted a welfare exemption pursuant to Section 53340(c) under the Act under subdivision (g)of Section 214 of the Revenue and Taxation Code after the first series of CFD No. 2022-1 Bonds have been issued shall not be considered Welfare Exempt Property for the Special Taxes-Facilities and shall not be exempt from Special Tax-Facilities. After the Transition Event,any property that is granted a welfare exemption pursuant to Section 53340(c) under the Act under subdivision (g) of Section 214 of the Revenue and Taxation Code shall be exempt from the Special Tax in each Fiscal Year it is Welfare Exempt Property. City of Cathedral City June 14,2022 CFD No.2022-1(Cathedral City Park&Recreation Services) Page 7 F. APPEALS Any property owner may file a written appeal of the Special Taxes with the CFD Administrator claiming that the amount or application of the Special Taxes is not correct.The appeal must be filed not later than one calendar year after having paid the Special Taxes that are disputed,and the appellant must be current in all payments of Special Taxes. In addition,during the term of the appeal process,all Special Taxes levied must be paid on or before the payment date established when the levy was made. The appeal must specify the reasons why the appellant claims the Special Taxes are in error. The CFD Administrator shall review the appeal,meet with the appellant if the CFD Administrator deems necessary, and advise the appellant of its determination. If the property owner disagrees with the CFD Administrator's decision relative to the appeal,the owner may then file a written appeal with the City Council whose subsequent decision shall be final and binding on all interested parties. If the decision of the CFD Administrator or subsequent decision by the City Council requires the Special Taxes to be modified or changed in favor of the property owner, the CFD Administrator shall determine if sufficient Special Tax revenue is available to make a cash refund. If a cash refund cannot be made,then an adjustment shall be made to credit future Special Taxes. This procedure shall be exclusive and its exhaustion by any property owner shall be a condition precedent to filing any legal action by such owner. G. INTERPRETATIONS The City may, by resolution or ordinance, interpret, clarify and/or revise this Rate and Method of Apportionment to correct any inconsistency, vagueness, or ambiguity as it relates to the Special Taxes, method of apportionment, classification of Parcels, or any definition used herein, as long as such correction does not materially affect the levy and collection of Special Taxes. In addition, the interpretation and application of any section of this document shall be at the City's discretion. H. MANNER OF COLLECTION The Special Taxes shall be collected in the same manner and at the same time as ordinary ad valorem property taxes; provided, however, that the CFD Administrator may, at the sole discretion of the City, directly bill the Special Tax, may collect the Special Tax at a different time or in a different manner as necessary to meet its financial obligations, and may covenant to foreclose and may actually foreclose on Assessor's Parcels of Taxable Property that are delinquent in the payment of the Special Tax. I. PREPAYMENT OF SPECIAL TAX The Special Tax may not be prepaid. J. TERM The Special Tax shall be levied and collected, as needed to fund the Special Tax Requirement, in perpetuity.However,no portion of the Special Tax shall be levied for Authorized Facilities after Fiscal Year 2057/58,which shall be the last Fiscal Year in which the Transition Event may occur: provided, however, that a Special Tax that was lawfully levied for Authorized Facilities in or before Fiscal year 2057/58 and that remains delinquent may be collected in subsequent years. City of Cathedral City June 14,2022 CFD No.2022-1(Cathedral City Park&Recreation Services) Page 8 EXHIBIT B LIST OF AUTHORIZED FACILITIES AND SERVICES The public facilities, public services and incidental costs authorized to be financed by the special taxes levied in the CFD consist of the following: Authorized Facilities. Authorized facilities consist of the purchase, construction, expansion, improvement, relocation or rehabilitation of any real or other tangible property with an estimated useful life of five years or longer undertaken by the City or another public agency that is recreation-related, including community centers, parks, parkways, open space, and including all direct or indirect costs and expenses related thereto. Authorized facilities also include payment of any bonds, notes, lease payments, indebtedness or other obligations for any authorized facility. Authorized Services. Authorized services consist of (i) the operation, maintenance, repair and provision of any other services with respect to any authorized facility, including replacement and the funding of a reserve fund to pay for future repair and/or replacement of any authorized facility; such authorized services include, but are not limited to, all general or extraordinary activities deemed necessary or desirable by the City to provide for the use or enjoyment of any and all authorized facilities, whether provided by the City or any outside entity, including maintenance and operations contingencies and reserves with respect thereto; and (ii) any City services which protect public health, improve gang prevention efforts, and/or facilitate afterschool programs for at-risk youth. Incidental Costs. In addition, costs eligible to be financed by the CFD shall include all costs and expenses incidental to the above and authorized by the Mello-Roos Community Facilities Act of 1982 that are determined by the City to be associated with the authorized facilities or the authorized services, the formation and ongoing administration of the CFD, the election, bonding, or levy and collection of special taxes, as well as all other costs incurred to carry out the authorized purposes of the CFD that are permitted by the Act. Exhibit B Page 1