HomeMy WebLinkAboutReso 2019-208
RESOLUTION NO. 2019-208
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA AMENDING RESOLUTION NO. 2019-169
DECLARING THE NECESSITY TO INCUR A BONDED
INDEBTEDNESS OF THE BAYFRONT PROJECT SPECIAL
TAX FINANCING DISTRICT TO BE SECURED BY SPECIAL
TAXES LEVIED WITHIN SUCH DISTRICT TO FINANCE
PUBLIC AND PRIVATE IMPROVEMENTS
WHEREAS, on September 10, 2019, the City Council of the City of Chula Vista,
California (the “City Council”) adopted its Resolution No. 2019-169 (“Resolution No. 2019-169”)
declaring that the public convenience and necessity requires that a bonded indebtedness be
incurred by the Bayfront Project Special Tax Financing District (the “District”) to contribute to
the financing of certain authorized improvements described in Exhibit A attached thereto and the
amount of the indebtedness of the District proposed to be authorized is $125,000,000; and
WHEREAS, there has been an additional analysis of the reasonably foreseeable revenues
to be generated by the District and recognizing the value of maximizing future flexibility for the
District, City Council desires to amend Resolution No. 2019-169 to increase the amount of
authorized bonded indebtedness of the District from $125,000,000 to $175,000,000.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Chula Vista,
that:
SECTION 1. Recitals. The above recitals are all true and correct.
SECTION 2. Amendment to Resolution No. 2019-169. Section 5 of Resolution No.
2019-169 is hereby amended to read as follows:
SECTION 5. Bond Authorization. The amount of the bonded
indebtedness of the District may include all costs and estimated
costs incidental to, or connected with, the accomplishment of the
purpose for which the indebtedness is proposed to be incurred as
authorized pursuant to Chapter 3.61. The amount of the
indebtedness proposed to be authorized is $175,000,000.
SECTION 3. Full Force and Effect of Resolution No. 2019-169. Except as specifically
set forth in this Resolution, Resolution No. 2019-169 is not amended or modified in any respect,
and remains in full force and effect.
DocuSign Envelope ID: 19F84D58-AC7E-44E3-B10A-59715C7D67A9
Resolution No. 2019-208
Page No. 2
Presented by Approved as to form by
Kelly G. Broughton, FASLA Glen R. Googins
Director of Development Services City Attorney
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 12th day of November 2019 by the following vote:
AYES: Councilmembers: Diaz, Galvez, McCann, and Casillas Salas
NAYS: Councilmembers: None
ABSENT: Councilmembers: Padilla
Mary Casillas Salas, Mayor
ATTEST:
Kerry K. Bigelow, MMC, City Clerk
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO )
CITY OF CHULA VISTA )
I, Kerry K. Bigelow, City Clerk of Chula Vista, California, do hereby certify that the foregoing
Resolution No. 2019-208 was duly passed, approved, and adopted by the City Council at a regular
meeting of the Chula Vista City Council held on the 12th day of November 2019.
Executed this 12th day of November 2019.
Kerry K. Bigelow, MMC, City Clerk
DocuSign Envelope ID: 19F84D58-AC7E-44E3-B10A-59715C7D67A9
EXHIBIT A
DESCRIPTION OF AUTHORIZED IMPROVEMENTS
1. Convention Center Facility (as defined in Chula Vista Municipal Code Chapter 3.61);
2. Street improvements, including grading, paving, curbs, gutters, sidewalks, street
signalization, signage, street lights, furnishings, and parkway and median landscaping
related thereto;
3. Gateway signage;
4. Pedestrian and bicycle paths;
5. Storm drains and other water quality devices to ensure regional permit compliance;
6. Public utilities (including but not limited to water, reclaimed water, sewer, electric, gas,
and telephone);
7. Public parks, open space and recreation facilities;
8. Fire protection and emergency response facilities;
9. Parking improvements;
10. Museums and cultural facilities;
11. Ecological and sustainability educational improvements;
12. Energy efficiency, water conservation, and renewable energy improvements;
13. Land, rights-of-way and easements necessary for any facilities to be financed by the
District; and
14. Equipment, apparatus, facilities or fixtures with an expected useful life of 5 years or
longer necessary for any of the foregoing or necessary to provide any of the services
described in the Resolution of Intention.
DocuSign Envelope ID: 19F84D58-AC7E-44E3-B10A-59715C7D67A9