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HomeMy WebLinkAbout96-135 CC Resolution RESOLUTION NO. 96-135 A RESOLUTION OF THE CITY COUNCIIL OF THE CITY OF TEMEECULA AUTHORIZING FORMATION OF A JOINT EXERCISE OF POWERS AUTHORITY WITH THE REDEVELOPMENT AGENCY OF THE CITY OF TEMIECULA, AND D]IRECTING CANCELLATION OF AMIENDMIENT TO AND EXTENSION OF JOINT COMMUNITY FACILITIES AGRIEEMIENT WHEREAS, the City of Temecula (the "City") and the Redevelopment Agency of the City of Temecula (the "Agency") desires to assist in the provision of public capital improvements in the Old Town and the Westside areas of the City, as contemplated by the respective Specific Plans for such areas heretofore approved by separate ordinances of the City Council;. WHEREAS, in connection with such assistance, the City and the Agency propose to form a joint exercise of powers authorities pursuant to Article 1 (commencing with Section 6500) of Chapter 5 of Division 7 of Title 1 of the California Government Code, to exercise the powers of the City and the Agency, and to enable the use of financing techniques that may reduce local borrowing costs, and to otherwise promote the greater use of existing and new financial instruments and mechanisms, all in accordance with the financing of some of the improvements by the Old Town/Westside Community Facilities District Authority (the "CFD Authority"); and WHEREAS, a form of joint exercise of powers agreement between the City and the Agency creating the Old Town/Westside Improvement Authority (the "Joint Powers Agreement"), has been filed with the City Clerk, and the City Council, with the aid of City staff, have reviewed the Joint Powers Agreement; and WHEREAS, on June 11, 1996, the City and the CFD Authority executed an Amendment No. 1 to Joint Community Facilities Agreement (the "Amendment"), amending the Joint Community Facilities Agreement, dated April 23, 1996, between the City and the CFD Authority (the "JFC Agreement"), to provide for a guarantee of completion of certain improvements; and WHEREAS, it is now expected that a guarantee of the character referred to in the Amendment will be provided directly to the Agency, so that the City now desires to cancel the Amendment in order to avoid any inconsistency with the intent of the party providing the guarantee; and WHEREAS, the JCF Agreement may expire in accordance with its terms because the CFD Authority has not yet issued the bonds referenced therein and the City desires to extend 96-135 1 the term of the JCF Agreement as necessary in connection with the construction of the improvements identified therein and their acceptance by the City. NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Temecula as follows: Section 1. Formation of Joint Powers Authority. The City Council hereby authorizes the officers and staff members of the City to assist in the organization of a joint exercise of powers authority between the City and the Agency to be known as the "Old Town/Westside Improvement Authority." The City Council hereby approves and authorizes the Mayor to execute and deliver and the City Clerk to attest the Joint Powers Agreement forming said joint exercise of powers authority, 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 Joint Powers Agreement. Section 2. Cancellation of Amendment, The Amendment is hereby canceled, subject to the adoption by the CFD Authority of a resolution canceling the Amendment. Section 3. Extension of JCF Agreement, The City Manager is hereby authorized and directed to execute an amendment to the JCF Agreement extending its term as necessary in connection with the construction and acceptance by the City of the improvements referenced therein, such amendment to be in a form acceptable to Bond Counsel and the City Attorney. Section 4. Official Actim. 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 formation of said joint exercise of powers authority, the cancellation of the Amendment and the extension of the JCL 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. 96-135 2 PASSED, APPROVED AND ADOPTED, by the City Council of the City of Temecula, at a regular meeting held on the 26th day of November, 1996. - indemans, Mayor ATTEST: J e . Greek, CMC/City er Authority Secretary [SEAL] 96-135 3 STATE OF CALIFORNIA) COUNTY OF RIVERSIDE) SS CITY OF TEMECULA ) I, June S. Greek, City Clerk of the City of Temecula, HEREBY DO CERTIFY that the foregoing Resolution No. 96-135 was duly adopted at a regular meeting of the Board of Directors of the Old Town/Westside Improvement Authority on the 26th day of November, 1996, by the following roll call vote: AYES: 3 BOARD MEMBERS: Birdsall, Ford, Lindemans NOES: 0 BOARD MEMBERS: None ABSENT: 1 BOARD MEMBERS: Roberts ABSTAIN: 1 BOARD MEMBERS: Stone Greek, CMC/City @er Agency Secretary 96-135 4