HomeMy WebLinkAboutReso 2003-408RESOLUTION NO. 2003-408
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA APPROVING THE FORM OF AN
ACQUISITION/FINANCING AGREEMENT PERTAINING TO
COMMUNITY FACILITIES DISTRICT NO. 08-I (0TAY
RANCH VILLAGE SIX)
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 and the issuance of
bonds in a community facilities district to finance the acquisition 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. 08-1 (Otay Ranch
Village Six) (the "District"); and
WHEREAS, the District was formed for the purpose of financing the acquisition of such
public improvements from Otay Project, L.P., 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 constructed by the Developer and acquired
by the City and bonds are to be issued to finance the acquisition or construction 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 am all tree and correct.
SECTION 2. The form of Acquisition/Financing Agreement, herewith submitted, is approved
substantially in the form submitted. The Mayor is hereby authorized to execute the final form of
such agreement on behalf of the City. The City Manager, subject to the review of the City
Attorney and Bond Counsel, is authorized to approve changes to the form of the
Acquisition/Financing Agreement deemed to be in the best interests of the City, approval of such
changes to be evidenced by the execution of such agreement.
Prepared by
Approved as to form by
Engineering Director
Ann Moore
City Attorney
Resolution 2003-408
Page 2
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 16th day of September, 2003, by the following vote:
AYES:
Councilmembers:
Davis, McCann, Rindone, Salas and Padilla
NAYS:
Councilmembers: None
ABSENT:
ATTEST:
Councilmembers:
None
Susan Bigelow, CMC, City Cl~rk
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. 2003-408 was duly passed, approved, and adopted by the City Council at a
regular meeting of the Chula Vista City Council held on the 16th day of September, 2003.
Executed this 16th day of September, 2003.
Susan Bigelow, CMC, City Cl6fk