HomeMy WebLinkAboutReso 2000-158 RESOLUTION NO. 2000-158
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA, CALIFORNIA, WAIVING THE CONSULTANT
SELECTION PROCESS AS IMPRACTICAL, APPROVING THE
AGREEMENT WITH McGILL MARTIN SELF, INC. AS
PROJECT MANAGER AND SPECIAL TAX CONSULTANT,
AMENDING AGREEMENT WITH BROWN, DIVEN, HESSELL
& BREWER LLP AS BOND COUNSEL, AMENDING
AGREEMENT WITH FIELDMAN, ROLAPP & ASSOCIATES AS
FINANCIAL ADVISOR, AND AMENDING AGREEMENT WITH
STONE & YOUNGBERG LLC AS UNDERWRITER
ASSOCIATED WITH COMMUNITY FACILITIES DISTRICT NO.
2000-1 (SUNBOW II) AND AUTHORIZING THE MAYOR TO
EXECUTE SAiD AGREEMENTS AND AMENDMENTS
WHEREAS, ACI Sunbow, LLC has submitted an application with the City of Chula Vista
for establishing Community Facilities District No. 2000-1 CCFD 2000-1 ") to fund the construction
of certain improvements serving some of the Sunbow II properties in the amount of approximately
$19.5 million; and
WHEREAS, Council approved the Report regarding the application and initiated the
proceedings on May 2, 2000; and
WHEREAS, staff recommends establishing a financing team of consultants to process CFD
2000-1; and
WHEREAS, ACI Sunbow, LLC entered into an agreement with the City, approved by
Council on May 9, 2000, to memorialize the terms and conditions of advancing funds to retain the
financing team and receiving reimbursements for such advances; and
WHEREAS, Council approved agreements with an appraiser and market absorption
consultant on May 9, 2000; and
WHEREAS, approval of these agreements will complete the financing team for Community
Facility District 2000-1; and
WHEREAS, staff recommends the Consultant Selection process be waived because it is in
the City' s best interest for the following reasons:
1. Consultants have demonstrated extensive knowledge of the Eastern Territories and
recent City financing districts;
2. Brown Diven and Hessell, LLP is one of the most highly regarded legal firms in the
state specializing in land based financing and is knowledgeable in the City's
infrastructure financing policies; and
3. Stone and Youngberg LLC knowledge of the Eastern Territories enables the
· Consultant to market the bonds at the lowest interest rates.
Resolution 2000-158
Page 2 ""1
and the following circumstances make the consultant selection process impractical:
1. The need to expedite the formation of the proposed Community Facilities District to
accommondate a bond sale in August of this year and the consultant selection process
takes up to 3 months; and
2. The consultant fees are competitive.
WHEREAS, staff recommends approving an agreement with McGill Martin Self, Inc. as
project manager and special tax consultant, amending an agreement with Brown, Diven, Hessell &
Brewer LLP as bond counsel, amending an agreement with Fieldman, Rolapp & Associates as
financial advisor, and amending an agreement with Stone & Youngberg LLC as tmderwriter.
NOW, THEREFORE, IT IS HEREBY RESOLVED:
SECTION 1. The above recitals are all true and correct and incorporated herein.
SECTION 2. The Consultant Selection Process is hereby waived and the agreement with McGill
Martin Self, Inc. as project manager and special tax consultant, the amendment to an agreement with
Brown, Diven, Hessell & Brewer LLP as bond counsel, the amendment to an agreement with
Fieldman, Rolapp & Associates as financial advisor, and the amendment to an agreement with Stone
& Youngberg LLC as underwriter are approved substantially in the forms submitted. The Mayor is
hereby authorized to execute the final form of each such agreement and amendments to agreements
on behalf of the City. The Mayor, subject to the review of the City Attorney, is authorized to approve
changes in such agreement and amendment to agreements in substantially the form presented with
such minor modifications as may be required or approved by the City Attomey.
Prepared by Approved as to form by
J P. Lippitt'~ ~
J~o Kaheny
orks Director
Resolution 2000-158
Page 3
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
Califomia, this 16th day of May, 2000, by the following vote:
AYES: Councilmembers: Davis, Moot, Padilla, Salas, and Horton
NAYS: Councilmembers: None
ABSENT: Councilmembers: None
Shi~ayor2~
ATTEST:
Susan Bigelow, City Clerk~
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO )
CITY OF CHULA VISTA )
I, Susan Bigelow, City Clerk of Chula Vista, Califomia, do hereby certify that the foregoing
Resolution No. 2000-158 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 16th day of May, 2000.