HomeMy WebLinkAboutReso 1999-19694 RESOLUTION NO. 19694
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA, CALIFORNIA, APPROVING AN
ACQUISITION/FINANCING AGREEMENT PERTAINING TO
COMMUNITY FACILITIES DISTRICT NO. 99-1 (OTAY RANCH
SPA ONE - PORTIONS OF VILLAGE ONE, VILLAGE FIVE
AND VILLAGE ONE WEST)
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 California (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 California (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. 99-1
(OTAY RANCH SPA ONE - PORTIONS OF VILLAGE ONE, VILLAGE FIVE AND VILLAGE
ONE WEST) (the "District"); and
WHEREAS, the District was formed for the purpose of financing the acquisition of such
public improvements from Otay Project, LP, the master developer of the property within the District
(the "Developer"); and
WHEREAS, the City and the Developer have negotiated the terms and conditions pursuant
to which the public improvements are to be constructed by the Developer and 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 Developer (the "Acquisition/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 Acquisition/Financing 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 City Manager, subject to the review of the City Attorney and Bond
Counsel, is 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, a copy of
which shall be kept on file in the office of the City Clerk.
Resolution 19694
Page 2
Prepared by Approved as to form by
Pu~ Director ~th~ny
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 30m day of November, 1999, by the following vote:
AYES: Councilmembers: Davis, Moot, Padilla, Salas and Horton
NAYS: Councilmembers: None
ABSENT: Councilmembers: None
Shirl~~ayo'~r
ATTEST:
Susan Bigelow, City Cleg
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. 19694 was duly passed, approved, and adopted by the City Council at a regular
meeting of the Chula Vista City Council held on the 30* day of November, 1999.
Executed this 30th day of November, 1999.
Susan Bigelow, City Clerk