HomeMy WebLinkAboutReso 2000-261 RESOLUTION NO. 2000-261
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA, CALIFORNIA, APPROV1NG THE FORM OF AN
ACQUISITION/FINANCING AGREEMENT PERTAINING TO
COMMUNITY FACILITIES DISTRICT NO. 2000-1 (SUNBOW II-
VILLAGES 5 THROUGH 10)
WHEREAS, the City Council has held and conducted proceedings relating to the levy of
special taxes and the issuance of bonds in a community facilities district to finance the acquisition
of certain public improvements, as authorized pursuant to the terms and provisions of the "Mello-
Roos Community Facilities Act of 1982," being Chapter 2.5. Part 1, Division 2, Title 5 of the
Government Code of the State of Califomia (the "Act") and the City of Chula Vista Community
Facilities District Ordinance enacted pursuant to the powers reserved by the City of Chula Vista
under Sections 3, 5 and 7 of Article XI of the Constitution of the State of Califomia (the
"Ordinance") (the Act and the Ordinance may be referred to collectively as the "Community
Facilities District Law"). Such community facilities district is designated as COMMUNITY
FACILITIES DISTRICT NO. 2000-1 (SUNBOW II - VILLAGES 5 THROUGH 10) (the
"District"); and
WHEREAS, the District was formed for the purpose of financing the acquisition of such
public improvements from ACI Sunbow, LLC, the major owner of the property within the District
(the "Landowner"); and
WHEREAS, the City and the Landowner have negotiated the terms and conditions pursuant
to which the public improvements are to be acquired by the City and bonds are to be issued to
finance the acquisition of such public improvements and such terms and conditions have been
memorialized in an Acquisition/Financing Agreement by and between the City and the Landowner
(the "Acquisitionf Financing Agreement"), the form of which has been presented to this City Council
for its consideration and approval.
NOW, THEREFORE, IT IS HEREBY RESOLVED:
SECTION 1. The above recitals are all true and correct.
SECTION 2. The form of Acquisition/Financing Agreement, herewith submitted, is approved
substantially in the form submitted. The City Manager or the Director of Finance are each hereby
authorized to execute the final form of such agreement on behalf of the City. The City Manager or
the Finance Director, subject to the review of the City Attomey and Best Best & Krieger LLP, Bond
Counsel, are each authorized to approve changes in such agreement deemed to be in the best interests
of the City, approval of such changes to be evidenced by the execution of such agreement.
Prepared by Approved as to form by
~rks Director ~mey
Resolution 2000-26
Page 2
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
Califomia, this 25th day of July, 2000, by the following vote:
AYES: Councilmembers: Davis, Moot, Padilla, Salas, and Horton
NAYS: Councilmembers: None
ABSENT: Councilmembers: None
ATTEST: Sh'~'
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. 2000-261 was duly passed, approved, and adopted by the City Council at a regular
meeting of the Chula Vista City Council held on the 25 day of July, 2000.
Executed this 25th day of July, 2000.
Susan Bigelow, City Clerk