HomeMy WebLinkAboutReso 2000-156 RESOLUTION NO. 2000-156
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA, CALIFORNIA, APPROVING A
REIMBURSEMENT AGREEMENT WITH ACI SUNBOW, LLC
ASSOCIATED WITH THE FORMATION OF COMMUNITY
FACILITIES DISTRICT NO. 2000-1 (SUNBOW II) AND
AUTHORIZING THE MAYOR TO EXECUTE SAID
AGREEMENT
WHEREAS, ACI Sunbow, LLC (the "Applicant') has made application with the City of
Chula Vista (the "City") to request that the City initiate proceedings under the provisions of the
"Mello-Roos Community Facilities Act of 1982," as amended (Govemment Code Section 53311 and
following), to form a community facilities district (the "Community Facilities District") to finance
the acquisition and/or construction of certain public improvements required as a precondition to the
development of properties owned and/or to be developed by the Applicant or Applicant' s successors
within certain portions of that area of the City commonly known as Villages 5 through 10 of Sunbow
II; and
WHEREAS, the Applicant has agreed to advance ~mds to the City for the payment of certain
initial consulting and administration costs and expenses related to the proceedings to consider the
formation of the Community Facilities District and to subsequently authorize, issue and sell bonds
for the Community Facilities District; and
WHEREAS, such advances shall be subject to reimbursement or credit upon the successful
sale of bonds for the Community Facilities District and the receipt by the City of the proceeds of
such bonds pursuant to such terms as the Applicant and the City shall agree; and
WHEREAS, the form of a Reimbursement Agreement to memorialize the terms and
conditions of such advances and reimbursements has been presented to this City Council for its
consideration.
NOW, THEREFORE, IT IS HEREBY RESOLVED:
SECTION 1. The above recitals are all tree and correct.
SECTION 2. The form of Reimbursement Agreement, herewith submitted, is approved
substantially in the form submitted. The Mayor is hereby authorized to execute the final form of such
agreement on behalf of the City. The M~y0r, subject to the review of the City Attorney and Bond
Counsel, is authorized to approve changes in such agreement in substantially the form presented with
such minor modifications as may be required or approved by the City Attorney.
Prepared by Approved as to form by
J i .~ Kaheny ~
Public Works Director Attorney
Resolution 2000-156
Page 2
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 162 day of May, 2000, by the following vote:
AYES: Councilmembers: Davis, Moot, Padilla, Salas, and Horton
NAYS: Councilmembers: None
ABSENT: Councilmembers: None
ATTEST:
Susan Bigelow, City Clgrk
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO )
CITY OF CHULA VISTA )
I, Susan Bigelow, City Clerk of Chula Vista, California, do hereby certify that the foregoing
Resolution No. 2000-156 was duly passed, approved, and adopted by the City Council at a regular
meeting of the Chula Vista City Council held on the 16m day of May, 2000.
Executed this 16t" day of May, 2000.
Susan Bigelow, City Clerk