HomeMy WebLinkAboutReso 2002-265 RESOLUTION NO. 2002-265
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA APPROVING THE FORM OF AN
ACQUISITION/FINANCING AGREEMENT PERTAINING TO
IMPROVEMENT AREA A IN COMMUNITY FACILITIES
DISTRICT NO. 2001-1 (SAN MIGUEL RANCH)
WHEREAS, the City Council of the City of Chula Vista, California (the "City Council"),
has held and conducted proceedings relating to the levy of special taxes within two improvement
areas of a community facilities district and the issuance of bonds of the community facilities
district for each such improvement area to finance the acquisition or construction 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. 2001-1 (San Mignel Ranch) (the "District"); and
WHEREAS, the District was formed for the purpose of financing the acquisition of such
public improvements from NNP-Trimark San Miguel 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 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. The City Manager or an Assistant City Manager are each
hereby authorized to execute the final form of such agreement on behalf of the City. The City
Manager or an Assistant City Manager, subject to the review of the City Attorney 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.
Presented by Approved as to form by
Jot~ P. Lippitt ~_.~(M. Kaheny // ,)
Pu§lic Works Director /gi~y Attorney
Resolution 2002-265
Page 2
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 23rd day of July, 2002, by the following vote:
AYES: Councilmembers: Davis, Padilla, Rindone, Salas and Horton
NAYS: Councilmembers: None
ABSENT: Councilmembers: None
Shirley Hort~fi, Mayor
ATTEST:
Susan Bigelow, City Clerk
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. 2002-265 was duly passed, approved, and adopted by the City Council at a
regular meeting of the Chula Vista City Council held on the 23rd day of July, 2002.
Executed this 23rd day of July, 2002.
Susan Bigelow, City Clerk