HomeMy WebLinkAboutReso 2005-356
RESOLUTION NO. 2005-356
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA APPROVING THE
ACQUISITION/FINANCING AGREEMENT PERTAINING TO
COMMUNITY FACILITIES DISTRICT NO. 12-1 (MCMILLIN
OTA Y RANCH VILLAGE SEVEN), AND AUTHORIZING THE
MAYOR TO EXECUTE THE AGREEMENT ON BEHALF OF
THE CITY
WHEREAS, the City Council of the City of Chula Vista (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 I, Division 2, Title 5 of the Government Code of the State of
California (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 (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. 12-1 (Otay Ranch Village Seven)
(District); and
WHEREAS, the District was formed for the purpose of financing the acquisition of such
public improvements trom McMillin Otay Ranch, LLC, the master developer of the property
within the District (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
(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 AS FOLLOWS:
SECTION 1. The above recitals are all true and correct.
SECTION 2. The form of AcquisitionlFinancing 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 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.
Prepared by
Approved as to form by
~~
Sohaib Al-Agha
City Engineer
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Ann Moore
City Attorney
Resolution No. 2005-356
Page 2
PASSED, APPROVED, and ADOPTED by the City Council of the City ofChula Vista,
California, this 1st day of November, 2005, by the following vote:
AYES:
Councilmembers:
Castaneda, McCann, Rindone, and Padilla
NAYS:
Councilmembers:
None
ABSENT:
Councilmembers:
Davis
~!u,i? " II
ATTEST:
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Susan Bigelow, MMC, City erk
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. 2005-356 was duly passed, approved, and adopted by the City Council at a
regular meeting of the Chula Vista City Council held on the 1st day of November 2005.
Executed this 1st day of November 2005.
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Susan Bigelow, MMC, City erk