HomeMy WebLinkAbout07-018 CC Resolution
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RESOLUTION NO. 07-18
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF TEMECULA APPROVING DEPOSITI
REIMBURSEMENT AGREEMENT FOR PROPOSED
COMMUNITY FACILITIES DISTRICT 07-1 (PROMENADE
MALL PARKING IMPROVEMENTS)
THE CITY COUNCIL OF THE CITY OF TEMECULA DOES HEREBY RESOLVE
AS FOLLOWS:
Section 1. Temecula Towne Center Associates L.P., a California limited
partnership (the "Developer") has requested that the Temecula Public Financing
Authority (the "Authority") form a Community Facilities District to finance certain parking
improvements (including one or more parking structures) in the vicinity of the
Promenade Mall and is willing to advance funds to pay costs of the City of Temecula
(the "City") and the Authority related thereto.
Section 2. The City desires to enter into a Deposit/Reimbursement Agreement
with the Authority and the Developer (the "Deposit Agreement"), regarding the
disposition of funds to be advanced by the Developer.
Section 3. The City Council hereby approves and authorizes the City Manager
to execute and deliver the Deposit Agreement in the form on file with the City Clerk
together with any changes therein deemed advisable by the City Attorney, the approval
of such changes to be conclusively evidenced by the execution and delivery by the City
of the Deposit Agreement.
Section 4. The Mayor, City Manager, 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 Deposit 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.
Section 5. This Resolution shall take effect upon its adoption.
R:/Resos 2007/Resos 07-18
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PASSED, APPROVED, AND ADOPTED by the City Council of the City of
Temecula this 27th day of February, 2007.
ATTEST:
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[SEAL]
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss
CITY OF TEMECULA )
Chuck Washington, Mayor
I, Susan W. Jones, MMC, City Clerk of the City of Temecula, do hereby certify that
the foregoing Resolution No. 07-18 was duly and regularly adopted by the City Council of
the City of Temecula at a meeting thereof held on the 27th day of February, 2007, by the
following vote:
AYES: 3
COUNCIL MEMBERS:
NOES: 0
COUNCIL MEMBERS:
ABSENT: 2
COUNCIL MEMBERS:
ABSTAIN: 0
COUNCIL MEMBERS:
R:/Resos 2007/Resos 07-18
Edwards, Naggar, Washington
None
Comerchero, Roberts
None
. Jones, MMC
City Clerk
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