City Council

18. PUBLIC HEARING - CONTINUED PUBLIC HEARING FOR COMMUNITY FACILITIES\nDISTRICT NO. 2018-1 (BEDFORD) CHANGE PROCEEDINGS FOR IMPROVEMENT\nAREA NO. 3 AND IMPROVEMENT AREA NO. 4; CONDUCTING AN ELECTION AND\nCONSIDER ADOPTION OF RESOLUTIONS AND OTHER OFFICIAL ACTIONS FOR\nCHANGE PROCEEDINGS\nThat the City Council:\na. Adopt Resolution No. 2023-109 determining the necessity for Improvement\nArea No. 3 of CFD No. 2018-1 (Bedford) of the City of Corona to incur an\nincrease in the bonded indebtedness and that the rate and method of\napportionment of special tax for Improvement Area No. 3 and Improvement\nArea No. 4 be revised and calling a special election on a proposition for incurring\nsuch bonded indebtedness.\nb. Adopt Resolution No. 2023-110 calling a special election and submitting to the\nvoters of CFD No. 2018-1 (Bedford) of the City of Corona the propositions of (i)\nwhether the amount of the authorized bonded indebtedness of Improvement\nArea No. 3 of said community facilities district should be increased from\n$25,000,000 to $37,000,000 and (ii) whether the rate and method of\napportionment of special tax for Improvement Area No. 3 and Improvement\nArea No. 4 of said community facilities district should be revised.\nc. Adopt Resolution No. 2023-111 declaring the results of the consolidated special\nelections within CFD No. 2018-1 (Bedford) of the City of Corona on propositions\nregarding (i) Improvement Area No. 3 of said community facilities district\nincurring a bonded indebtedness in an aggregate principal amount not to exceed\n$37,000,000 for providing public facilities and (ii) revising the rate and method\napportionment of special tax of Improvement Area No. 3 And Improvement\nArea No. 4 of the community facilities district.\nd. Conduct the first reading of Ordinance No. 3385 levying special taxes.