HomeMy Public PortalAboutResolution - 22-26- 20220622 - SCrC Measure AA LevyRESOLUTION NO. 22-26
A RESOLUTION OF THE MIDPENINSULA REGIONAL OPEN SPACE
DISTRICT SETTING THE 2022-23 TAX RATE FOR SANTA CRUZ
COUNTY ON VOTER APPROVED GENERAL OBLIGATION BONDS
WHEREAS, the Midpeninsula Regional Open Space District (the "District") is a regional
open space district that includes territory in the County of San Mateo, the County of Santa Clara
and the County of Santa Cruz (each, a "County"; collectively, the "Counties"); and
WHEREAS, the District is empowered to issue general obligation bonds that are
authorized by two-thirds of the qualified electors of the District pursuant to Article 3 (commencing
with Section 5500) of Chapter 3 of Division 5 of the Public Resources Code and Article 4.5,
conunencing with Section 53506, of Chapter 3 of Part 1 of Division 2 of Title 5 of the Government
Code of the State of California (collectively, the "Act"); and
WHEREAS, a special bond election was duly and regularly held in the District on June 3,
2014, for the purpose of submitting a ballot measure to the qualified electors of the District (the
"2014 Authorization"), and more than two-thirds of the votes cast at the election approved the
issuance of up to $300 million of general obligation bonds to finance certain projects specified in
the 2014 Authorization; and
WHEREAS, for the purpose of financing the projects authorized by the 2014
Authorization (the "Projects"), by its Resolution No. 15-19, the District issued General Obligation
Bonds, Series 2015, Series A and Series B for the aggregate amount of $45,000,000 pursuant to
the Act. By Resolution No. 17-31, the District further issued General Obligation Bonds, Series
2018 for the aggregate amount of $50,000,000; and
WHEREAS, Section 5569 of the Public Resources Code provides that, for the purpose of
paying all sums coming due for principal and interest on all bonds of the District, there shall be
levied and collected each year a tax sufficient to pay the annual interest on such bonds and that
part of the principal that will become due before the time for setting the next general tax levy; and
WHEREAS, Section 5571 of the Public Resources Code provides that the Board of
Supervisors of the County of Santa Cruz, at the time of making the general tax levy in each year,
levy a tax upon all the real and personal property within the District and within its respective
County at a rate sufficient to meet the proportion of taxes necessary to be raised in the County for
the purpose of paying the principal and interest of the bonds and other indebtedness of the District.
NOW, THEREFORE, BE IT RESOLVED, by the Board of Directors of the
Midpeninsula Regional Open Space District, as follows:
SECTION 1. Levy of Tax. The Board of Directors of the District hereby determines
that the tax rate necessary to pay the principal and interest on the Bonds coming due and payable
on September 1, 2022, March 1, 2023, and September 1, 2023, is $0.0013 per $100 of assessed
valuation, and such tax rate shall be and is hereby levied in accordance with all applicable
requirements of law.
Resolutioos2022 2_2-2G SCrC Measure AA Levy
1
SECTION 2. Collection of Tax. The Controller is hereby directed to forward a copy of
this Resolution to the Auditor -Controller of the County of Santa Cruz, and to the Board of
Supervisors of the County, and to take such actions and execute such documents as may be
required to cause the tax rate set forth in Section 1 to be placed on the 2022-2023 property tax
bill and collected by the County.
SECTION 3. Effective Date. This Resolution shall take effect from and after the date
of its passage and adoption.
PASSED AND ADOPTED by the Board of Directors of the Midpeninsula Regional
Open Space District on June 22, 2022, at a Regular Meeting thereof, by the following vote:
AYES: CYR, HOLMAN, KERSTEEN-TUCKER, KISHIMOTO, RIFFLE, SIEMENS
NOES: NONE
ABSTAIN: NONE
ABSENT: HASSETT
ATTEST: APPROVED:
Karen Holman, Secretary
Board of Directors Board of Directors
Zoe Kersteen-Tucker, President
APPROVED AS TO FORM:
Hilary Stevenson, General Counsel
1, the District Clerk of the Midpeninsula Regional Open Space District, hereby certify
that the above is a true and correct copy of a resolution duly adopted by the Board of Directors
of the Midpeninsula Regional Open Space District by the above vote at a meeting thereof duly
held and called on the above day.
iris er r o i dworth, District Clerk
Resolutions.,2022,22-26_SCrC Measure AA Levy
2