HomeMy WebLinkAboutReso 1991-16292 RESOLUTION NO. 16292
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA
VISTA AUTHORIZING AND PROVIDING FOR THE SECURITY
ENHANCEMENT AGREEMENT FOR ASSESSMENT DISTRICT 90-3
(EASTLAKE GREENS) AND AUTHORIZING MAYOR TO EXECUTE SAID
AGREEMENT
WHEREAS, the CITY COUNCIL of the CITY OF CHULA VISTA, CALIFORNIA, has
heretofore instituted and conducted proceedings under the terms and provisions
of the "Municipal Improvement Act of 1913", being Division 12 of the Streets and
Highways Code of the State of California, for the installation of certain public
works of improvement, together with appurtenances and appurtenant work, in a
special assessment district known and designated as ASSESSMENT DISTRICT NO. 90-3
(EASTLAKE GREENS) (hereinafter referred to as the "Assessment District"); and,
WHEREAS, in the Resolution of Intention it was determined and declared that
bonds should be issued under the provisions of the "Improvement Bond Act of
1915", and,
WHEREAS, there has now been received, considered and ready for approval a
Security Enhancement Agreement to be entered into between the City and EastLake
Development Company, a California limited partnership, in order to provide
assurance to the City that all payments on the Bonds will be paid.
NOW, THEREFORE, BE IT RESOLVED:
SECTION 1. That the above recitals are true and correct.
SECTION 2. The form of Security Enhancement Agreement presented to this meeting
is hereby approved in substantially the form presented at this
meeting and the Mayor and City Clerk are hereby authorized and
directed to execute and deliver the Agreement, known as document
number C091-143, a copy of which is on file in the office of the
City Clerk, in substantially the form presented to this meting, with
such changes as the officers executing the same or the City Attorney
or bond counsel may approve, such approval to be conclusively
evidenced by the execution and delivery thereof.
Presented Appr ed italy
Resolution No. 16292
Page 2
PASSED, APPROVED and ADOPTED by the City Council of the City of Chula
Vista, California, this 6th day of August, 1991, by the following vote:
AYES: Councilmembers: Grasser Horton, Malcolm, Moore, Nader,
Rindone
NOES: Councilmembers: None
ABSENT: Councilmembers: None
ABSTAIN: Councilmembers: None
Tim Nader, Mayor
ATTEST:
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. 16292 was duly passed, approved,
and adopted by the City Council held on the 6th day of August, 1991.
Executed this 6th day of August, 1991.