HomeMy WebLinkAboutReso 1998-19301 RESOLUTION NO. 19301
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA
VISTA, CALIFORNIA, APPROVING THE FORM OF AN
ACQUISITION/FINANCING AGREEMENT PERTAINING TO
COMMUNITY FACILITIES DISTRICT NO. 97-3 (MCMILLIN OTAY
RANCH SPA ONE)
WHEREAS, the City Council has previously declared its intention and 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"), said Community Facilities District designated as COMMUNITY
FACILITIES DISTRICT NO. 97-3 (McMILLIN OTAY RANCH SPA ONE) (the "District"); and
WHEREAS, the District was formed for the purpose of financing the acquisition of such
public improvements from McMillin Otay Ranch, LLC, 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 form of Acquisition/Financing Agreement, herewith submitted, is approved
substantially in the form submitted, a copy of which is on file in the office of the City Clerk,
known as Document Number CO98-256. 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.
Prepared by Approved as to form by
Resolution 19301
Page 2
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 15th day of December, 1998, by the following vote:
AYES: Councilmembers: Davis, Padilia, Salas and Horton
NAYS: Councilmembers: None
ABSENT: Councilmembers: None
ABSTAIN: Councilmembers: Moot
ATTEST:
Authelet, City Clerk
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO )
CITY OF CHULA VISTA )
I, Beverly A. Authelet, City Clerk of Chula Vista, California, do hereby certify that the
foregoing Resolution No. 19301 was duly passed, approved, and adopted by the City Council
at a regular meeting of the Chula Vista City Council held on the 15'h day of December, 1998.
Executed this 15'h day of December, 1998.
~Autt~elet, City Clerk