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HomeMy WebLinkAbout01-028 CC ResolutionRESOLUTION NO. 01-28 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF TEMECULA AUTHORIZING FORMATION OF A JOINT EXERCISE OF POWERS AUTHORITY WITH THE REDEVELOPMENT AGENCY OF THE CITY OF TEMECULA, MAKING CEQA DETERMINATIONS AND APPROVING DEPOSIT/REIMBURSEMENT AGREEMENT WHEREAS, the City of Temecula (the "City") and the Redevelopment Agency of the City of Temecula (the "Agency") desire to assist in the financing and refinancing of public capital improvements in the City; and 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 and refinancing of public improvements by and through community facilities districts to be formed by such joint powers authority; and WHEREAS, a form of joint exercise of powers agreement (the "Joint Powers Agreement") between the City and the Agency creating the Temecula Public Financing Authority (the "Authority"), 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, the City Council now desires to approve the Joint Powers Agreement, and to authorize its execution and delivery; and WHEREAS, Ashby Development Company, Inc. and Calloway 220, LLC (collectively, the "Developers") have requested that the Authority form a community facilities district and have advanced funds to pay costs of the City and the Authority related thereto; and WHEREAS, the City desires to enter into a Deposit/Reimbursement Agreement with the Authority and the Developers (the "Deposit Agreement"), regarding the disposition of funds advanced by the Dev. elopers. 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 "Temecula Public Financing 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. Resos/01-28 I Section 2. Deposit A.qreement. 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 3. No CEQA Proiect. The City Council hereby determines that the formation of the Authority, and the contemplated formation of a community facilities district and issuance of community facilities district special tax bonds involving the Authority, in accordance with Section 15061 (b) of the California Environmental Quality Act (CEQA) Guidelines are not a "Project," as defined in Section 15378 of the CEQA Guidelines, and are therefore exempt from the requirements of CEQA. Pursuant to CEQA Guidelines Sections 15061 (d) and 15062, the City Clerk is hereby directed to cause a Notice of Exemption to be prepared, executed and filed in regard to the foregoing determination. Section 4. Official Actions. 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 and 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. PASSED, APPROVED AND ADOPTED, by the City Council of the City of Temecula, at a regular meeting held on the 24th day of April, 2001. A"'~'TE ST: · JoCes, CMC / · Au , ty SecTry [SEAL] ' ~ Jeff Comerchero, Mayor Resos/01-28 2 STATE OF,CALIFORNIA ) COUNTY OF RIVERSIDE ) ss CITY OF TEMECULA ) I, Susan Jones, City Clerk of the City of Temecula, HEREBY DO CERTIFY that the foregoing Resolution No. 01-28 was duly adopted at a regular meeting of the City Council of the City of Temecula on the 24th day of April, 2001, by the following roll call vote: AYES: 5 NOES: 0 ABSENT: 0 COUNCILMEMBERS: Naggar, Pratt, Roberts, Stone Comerchero COUNCILMEMBERS: None COUNCILMEMBERS: None Resos/01-28 3