HomeMy WebLinkAboutReso 2002-468RESOLUTION NO. 2002-468
RESOLUTION OF THE CITY COUNCIL OF THE 'CITY OF
CHULA VISTA APPROViNG THE SECOND AMENDMENT
TO THE ACQUISITION/FiNANCING AGREEMENT WITH
MCMILLiN OTAY RANCH FOR COMMUNITY FACILITIES
DISTRICT NO. 97-3, (MCMILLIN OTAY RANCH SPA ONE),
AND AUTHORIZiNG THE MAYOR TO EXECUTE SAID
AMENDMENT
WHEREAS, on December 8, 1998, the City Council approved the Acquisition/Financing
Agreement for Community Facilities District No. 9%3; and
WHEREAS, this agreement set forth the conditions and procedures for acquiring the
McMillin Otay Ranch SPA One improvements from the developer; and
WHEREAS, the proposed second amendment will provide the developer with the option
to use proceeds from Community Facilities District No. 97-3 to satisfy performance obligations
set fourth in the agreement for financing the construction of Olympic Parkway and related
roadway improvements.
NOW, THEREFORE, BE IT RESOLVED the City Council of the City of Chula Vista
does hereby approve a second amendment to the acquisition/financing agreement for Community
Facilities District No. 97-3, a copy of which shall be kept on file in the office of the City Clerk.
BE IT FURTHER RESOLVED that the Mayor of the City of Chula Vista is hereby
authorized and directed to execute said amendment on behalf of the City of Chula Vista.
Presented by
Approved as to form by
Jo)in P~,ipp~tt ~' -~' /
BfbYlc Works Director
John M. Kaheny
City Attomey
Resolution 2002-468
Page 2
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 19th day of November, 2002, by the following vote:
ATTEST:
Councilmembers:
Councilmembers:
Councilmembers:
AYES:
NAYS:
ABSENT:
Davis, Padilla, Rindone, and Salas
None
Horton
Susan Bigelow, City Cler!~
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. 2002-468 was duly passed, approved, and adopted by the City Council at a
regular meeting of the Chula Vista City Council held on the 19th day of November, 2002.
Executed this 19th day of November, 2002.
Susan Bigelow, City Cletl~