HomeMy Public PortalAboutResolution - 23-16- 20230726 - SMC Measure AA LevyRESOLUTION NO. 23-16
A RESOLUTION OF THE MIDPENINSULA REGIONAL OPEN SPACE
DISTRICT SETTING THE 2023-24 TAX RATE FOR SAN MATEO
COUNTY ON VOTER APPROVED GENERAL OBLIGATION BONDS
WHEREAS , the Midpeninsula Regional Open Space Distlict (the "District") is a regional
open space distlict that includes teITitory 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 AI1icle 3 ( commencing
with Section 5500) of Chapter 3 of Division 5 of the Public Resources Code and AI1icle 4.5 ,
commencing with Section 53506, of Chapter 3 of Pat1 l of Divis ion 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 Disttict fut1her 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 the part
of the principal that will become due before the time for s etting the next general tax levy ; and
WHEREAS , Section 5571 of the Public Resources Code provides that the Board of
Supervisors of the County of San Mateo , 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 tax es necessary to be raised in the County for
the purpose of paying the principal and interest of th e bonds and other indebtedness of the District;
and
NOW, THEREFORE, BE IT RESOLVED , b y the Bo ard of Directors of the
Midpeninsula Regional Open Space District, as follow s :
SECTION 1. Levy of Tax. The Board of Directors of the Di strict hereby detennines
that the tax rate neces sary to pay the principal and interest on the Bonds coming du e and payable
on September 1, 2023 , March 1, 2024, and September 1, 2024 , i s $0.0012 per $100 of assess ed
valuation, and such tax rate shall be and is hereby levi ed in accordance with all applicable
requirements of law.
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SECTION 2. Collection of Tax. The Co ntroll er i s her eb y d irected to forward a copy of
thi s Reso lution t o the Co ntroller of San M a teo Co unty, and to the Board of Supervisors of the
County , and to take such actions and execut e such d ocuments as may be required to cause the tax
rate set forth in Section 1 to be placed o n the 2023 -2024 prop e1iy tax bill and collected b y the
County .
SECTION 3 . Effective Date. This Resolution sh a ll take effe c t from and after the date
of it s passage and adopti o n.
PASS ED AND ADOPTE D b y the Board of Directors of the Mid p eninsula Regional
Open Space Distiict o n July 26, 2 023 , at a Reg ular Meeting thereof, b y the following vote:
AYES: CYR, GLEASON, HOLMAN, KERSTEEN-TUCKER, KISHIMOTO,
MACNIVEN, RIFFLE
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE
ATTEST: APPROVED:
C raig Gleason~ ' Board of Directors irectors
APPROVED AS TO FORM:
Hil~unsel
I, th e Di strict C lerk of the Midpeninsula Regional Open Space Oishi ct, hereby ce1iify
that the above i s a true and con-ect copy o f a resolution duly adopted b y the Board of Directors
of the Midpenins ul a Regional Open Space Di strict by the above vote at a meetin g thereof duly
held and call ed on th e above day.
C ' ' ; )fl.Au~. ,,[;g~
Mari a1S 01ia, District Cl erk ----
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