HomeMy WebLinkAbout04-298 - ResolutionsRESOLUTION NO.04-298
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
RANCHO CUCAMONGA, CALIFORNIA, APPROVING THE FORM
OF AN ACQUISITION/FINANCING AGREEMENT IN COMMUNITY
FACILITIES DISTRICT NO. 2004-01 (RANCHO ETIWANDA
ESTATES)
WHEREAS, the CITY COUNCIL of the CITY OF RANCHO CUCAMONGA,
CALIFORNIA (the "City Council"), has held and conducted proceedings relating to formation of a
community facilities district and the authorization to levy special taxes and to issue of bonds of such
community facilities district to finance the acquisition or construction 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 1, Division 2, Title 5 of the Government Code of the State of
California (the "Act"). Such community facilities district is designated as COMMUNITY FACILITIES
DISTRICT NO. 2004-01 (RANCHO ETIWANDA ESTATES) (the "District"); and,
WHEREAS, the District was formed for, among other purposes, the purpose of
financing the acquisition of certain public improvements from Chin Yun Yeh Chuang, the owner of
the property within the District (the "Owner"); and,
WHEREAS, the City and the Owner have negotiated the terms and conditions
pursuant to which such public improvements are to be constructed or acquired and bonds are to be
issued to finance the acquisition of such public improvements and such terms and conditions have
been memorialized in an Acquisition/Financing Agreement by and between the City and the Owner
(the "Acquisition/Financing Agreement"), the form of which has been presented to this City Council
for its consideration and approval.
NOW, THEREFORE, BE IT RESOLVED AND DETERMINED by the City Council of
the City of Rancho Cucamonga as follows:
SECTION 1: RECITALS. The above recitals are all true and correct.
SECTION 2: APPROVAL OF FORM OF ACQUISTION/FINANCING
AGREEMENT. The form of Acquisition/Financing Agreement,
herewith submitted, is approved substantially in the form submitted.
The City Manager is hereby authorized to execute the final form of
such agreement on behalf of the City. The City Manager, subject to
the review of the City Attorney and Bond Counsel, is authorized to
approve changes in such agreement deemed to be in the best
interests of the City, approval of such changes to be evidenced by
the execution of such agreement.
Please see the following page
for formal adoption, certification and signatures
Resolution No. 04-298
Page 2 of 2
PASSED, APPROVED, AND ADOPTED this 15th day of September 2004.
AYES: Alexander, Gutierrez, Howdyshell, Kurth, Williams
NOES: None
ABSENT: None
►_l 16*1r_AII,I:I
ATTEST:
-be'Kra J. Ada , CMC, City Clerk
I, DEBRA J. ADAMS, CITY CLERK of the City of Rancho Cucamonga, California, do
hereby certify that the foregoing Resolution was duly passed, approved and adopted by the City
Council of the City of Rancho Cucamonga, California, at a Adjourned Meeting of said City Council
held on the 15th day of September 2004.
Executed this 16th day of September 2004, at Rancho Cucamonga, California.
ebra J. Adarhs-,-1CMC, City Clerk