HomeMy WebLinkAboutReso 1993-17232 RESOLUTION NO. 17232
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA
VISTA APPROVING AND AUTHORIZING EXECUTION OF AGREEMENTS
IN ASSESSMENT DISTRICT NO. 92-2 (AUTO PARK)
WHEREAS, the City Council of the City of Chula Vista, California, is
considering the formation of a special assessment district under the terms and
provisions of the "Municipal Improvement Act of lgl3", being Division 12 of the
Streets and Highways Code of the State of California, for the installation of
certain public works of improvement in a special assessment district, said
assessment district known and designated as Assessment District No. 92-2 (Auto
Park) (hereinafter referred to as the "Assessment District"); and,
WHEREAS, at this time there has been submitted to this City Council for
review and approval, an agreement by which the City will acquire improvements
constructed by the Auto Park developer and which sets forth certain terms and
conditions, as well as estimated prices and quantities of work to be installed
and financed pursuant to the above-referenced Agreement ("Acquisition/Financing
Agreement"); and,
WHEREAS, there has also been submitted for approval by this legislative
body an agreement by which Auto Park Developer assign to their lender, GMAC, the
proceeds they would otherwise receive from the Acquistion/Financing Agreement
("Assignment of Proceeds of Acquisition/Financing Agreement") and a three party
agreement with the City, Auto Park Developer and Otay Water District by which the
City assigns to the Otay Water District the water improvement facilities it will
acquire from the Auto Park Developer in connection with the construction of
certain water facilities ("Agreement and Assignment").
NOW, THEREFORE, BE IT RESOLVED:
SECTION 1. That the above recitals are all true and correct.
SECTION 2. That the Acquisition/Financing Agreement, known as document
number C093-183, the Assignment of Proceeds of
Acquisition/Financing Agreement, known as document number
C093-184, and the Agreement and Assignment, known as document
number C093-185, copies of which are on file in the office of
the City Clerk, as submitted for the referenced Assessment
District, are hereby approved in the form as submitted and as
may be changed in a manner acceptable to the City Attorney and
City Manager, and execution of such agreements as acceptable
to the City Attorney and the City Manager, is hereby
authorized to be made by the Mayor and City Clerk.
SECTION 3. The final prices to be paid for said improvements shall be
prices as determined by the City to be reasonable, to
represent the actual costs and expenses for the installed
Resolution No. 17232
Page 2
works of improvement, including all appropriate incidental
expenses.
SECTION 4. That a copy of each agreement shall be kept on file in the
office of the City Clerk and remain open for public
inspection.
Presented by _ . ~~ a~to f/o~ by
Resolution No. 17232
Page 3
PASSED, APPROVED and ADOPTED by the City Council of the City of Chula
Vista, California, this 24th day of August, 1993, by the following vote:
YES: Councilmembers: Fox, Horton, Moore, Rindone, Nader
NOES: Councilmembers: None
ABSENT: Councilmembers: None
ABSTAIN: Councilmembers: None
Tim Nader, Mayor
ATTEST:
Beve!~/~./Authel~t, ity er
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO ) ss.
CITY OF CHULA VISTA )
I, Beverly A. Authelet, City Clerk of the City of Chula Vista, California, do
hereby certify that the foregoing Resolution No. 17232 was duly passed, approved,
and adopted by the City Council held on the 24th day of August, 1993.
Executed this 24th day of August, 1993.
Bev~Auth~let, City Clerk