HomeMy WebLinkAboutReso 2006-106
RESOLUTION NO. 2005-106
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA APPROVING THE FORM OF THE
ACQUISITION/FINANCING AGREEMENT PERTAINING TO
COMMUNITY FACILITIES DISTRICT NO. I3-1 (OT A Y
RANCH VILLAGE SEVEN)
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. I3-1 (Otay Ranch Village Seven)
(District); and
WHEREAS, the District was formed for the purpose of financing the acquisition of such
public improvements trom 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. These terms and conditions have been memorialized in an AcquisitionlFinancing
Agreement by and between the City and the Developer (AcquisitionlFinancing Agreement), the
form of which has been presented to this City Council for its consideration and approval.
NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS:
SECTION I. The above recitals are all true and correct.
SECTION 2. The City Council approves the form of AcquisitionlFinancing Agreement,
in substantially in the form submitted. The City Council authorizes the Mayor to execute the
final form of the Agreement on behalf of the City. The City Council authorizes the City
Manager, subject to the review of the City Attorney and Best Best & Krieger LLP, as Bond
Counsel, to approve changes in the Agreement deemed to be in the best interests of the City,
approval of such changes to be evidenced by the execution of the Agreement.
Resolution No. 2006-106
Page 2
Prepared by
Approved as to form by
~ cl3.-U!..J)cLuL
Leah Browder
Acting Engineering Director
<C&x<0{\\\~~,
Ann Moore
City Attorney
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 4th day of April 2006 by the following vote:
AYES:
Councilmembers:
Castaneda, Chavez, McCann, and Padilla
NAYS:
Councilmembers:
None
ABSENT:
Councilmembers:
Rindone
AWhla{!L
Stephen C. Padilla, Mayor
ATTEST:
-~Jlt, ~ ---<;~A,()
Susan Bigelow, MMC, City C k
./
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. 2006-106 was duly passed, approved, and adopted by the City Council at a
regular meeting of the Chula Vista City Council held on the 4th day of April 2006.
Executed this 4th day of April 2006.
.
__~~~r'~g 11,o----l
Susan Bigelow, MMC, City Cle
.