HomeMy WebLinkAboutReso 2005-151
RESOLUTION NO. 2005-151
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA AUTHORIZING THE CITY ATTORNEY OR
HER DESIGNEE TO INITIATE FORECLOSURE
PROCEEDINGS
WHEREAS, the City has fonned a number of Assessment Districts pursuant to the
Municipal Improvement Act of 1915 and Community Facilities Districts pursuant to the
Community Facilities Act of 1982 to impose assessments/special taxes on benefiting properties
to finance the construction of various improvements; and
WHEREAS, limited obligation bonds were issued to fund the unpaid assessments/special
taxes pursuant to the Improvement Bond Act of 1915 and the Community Facilities Act of 1982;
and
WHEREAS, one of the covenants applicable to the issuance of such limited obligation
bonds is that the City must monitor the collection process and cause judicial foreclosure
proceeding to commence in as little as 150 days of an installment becoming delinquent; and
WHEREAS, the City wishes to authorize a finn to act on its behalf and initiate the
judicial foreclosure proceedings when appropriate; and
WHEREAS, in the past, this has been done on a district-by-district basis as the need
arose; and
WHEREAS, a blanket authorization to allow the City Attorney or his/her designee to
initiate foreclosure proceedings would allow the City to respond more quickly to a delinquency
and meet the time requirements of the bond indenture.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Chula
Vista does hereby authorize the City Attorney or his/her designee to initiate foreclosure
proceedings, as needed, on any delinquent parcel which is part of a district associated with the
issuance of limited obligation bonds.
BE IT FURTHER RESOLVED that the authorization set forth above shall stay in effect
until the City Council fonnally rescinds said authorization.
Presented by
Approved as to fonn by
~¿;-91~
Sohaib Al-Agha
City Engineer
(J'- ~L
Ann Moore
City Attorney
Resolution 2005-151
Page 2
PASSED, APPROVED, and ADOPTED by the City Council of the City ofChula Vista,
California, this lOth day of May, 2005, by the following vote:
AYES:
Councilmembers:
Castaneda, McCann, Rindone and Padilla
NAYS:
Councilmembers:
None
ABSENT:
Councilmembers:
Davis
~~
ATTEST:
~JJ....LL.-~ ð L:) ~
Susan Bigelow, MMC, Ci lerk
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. 2005-151 was duly passed, approved, and adopted by the City Council at a
regular meeting of the Chula Vista City Council held on the lOth day of May, 2005.
Executed this 10th day of May, 2005.
- ~/I d , ~ ~ () 6'0. )
Susan Bigelow, MMC, City Cle