HomeMy WebLinkAbout2020-15 CC Resolution RESOLUTION NO. 2020-15
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF TEMECULA APPROVING A DEPOSIT/
REIMBURSEMENT AGREEMENT—HEIRLOOM FARMS
THE CITY COUNCIL OF THE CITY OF TEMECULA DOES HEREBY RESOLVE AS
FOLLOWS:
Section 1. MLC Holdings, Inc. (the "Developer") has submitted to the Finance Director
of the City of Temecula (the "City") a check in the amount of$75,000.00 (the "Deposit"), to be
used by the City to pay costs of the City and the Temecula Public Financing Authority (the
"Authority") in connection with proceedings under Section 53311 et seq. of the California
Government Code(the"Act")to create a community facilities district to be designated"Temecula
Public Financing Authority Community Facilities District No. 20-01 (Heirloom Farms)" (the
"CFD").
Section 2. There has also been submitted a Deposit/Reimbursement Agreement (the
"Agreement"), to be entered into by the Developer, the City and the Authority (for itself and on
behalf of the CFD), and the City now desires to enter into the Agreement with the Authority and
the Developer in order to assist with the formation of the CFD and the possible issuance of Bonds
by the Authority for the CFD.
Section 3. The City Council hereby approves and authorizes the City Manager to execute
and deliver the Agreement, in the form on file with the City Clerk and to take all actions on his
part necessary to implement the Agreement. The Director of Finance is hereby authorized and
directed to accept the Deposit and to use the Deposit (and any subsequent Deposits, as defined in
the Agreement) in the manner contemplated by the Agreement.
Section 4. The Mayor,City Manager, Director of Finance,City Clerk and all other officers
of the City are hereby authorized and directed to take all actions and do all things necessary or
desirable hereunder with respect to the implementation of the Agreement,including but not limited
to the execution and delivery of any and all agreements, certificates, instruments and other
documents,which they,or any of them,may deem necessary or desirable and not inconsistent with
the purposes of this Resolution.
PASSED, APPROVED, AND ADOPTED by the City Council of the City of Temecula
this 10`h day of March, 2020.
L
James Stewart, Mayor
ATTE
Randi Johl, City Clerk
[SEAL]
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STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss
CITY OF TEMECULA )
I, Randi Johl, City Clerk of the City of Temecula, do hereby certify that the foregoing
Resolution No. 2020-15 was duly and regularly adopted by the City Council of the City of
Temecula at a meeting thereof held on the 10`h day of March, 2020, by the following vote:
AYES: 5 COUNCIL MEMBERS: Edwards, Naggar, Rahn, Schwank,
Stewart
NOES: 0 COUNCIL MEMBERS: None
ABSTAIN: 0 COUNCIL MEMBERS: None
ABSENT: 0 COUNCIL MEMBERS: None
Randi Johl, City Clerk
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