HomeMy WebLinkAboutResolution - 3196 STATE OF CALIFORNIA ) RESOLUTION NO. 3196
COUNTY OF RIVERSIDE )ss
CITY OF SAN JACINTO )
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN
JACINTO APPROVING AND AUTHORIZING EXECUTION AND
DELIVERY OF A FUNDING AND ACQUISITION AGREEMENT
RELATING TO PUBLIC FACILITIES WITHIN AND FOR COMMUNITY
FACILITIES DISTRICT NO. 2008-1 (PARKSIDE) OF THE CITY OF SAN
JACINTO, COUNTY OF RIVERSIDE, STATE OF CALIFORNIA
WHEREAS, the City Council (the "City Councir') of the City of San Jacinto
(the "City'), has conducted proceedings for the establishment of Community Facilities
District No. 2008-1 (Parkside) of the City of San Jacinto, County of Riverside, State of
California (the "District'), pursuant to Chapter 2.5 (commencing with Section 53311) of
Part 1 of Division 2 of Title 5 of the California Government Code, the "Mello-Roos
Community Facilities Act of 1982" (the "Act), for the financing of the design,
construction and acquisition of public facilities for the benefit of the Community Facilities
District; and
WHEREAS, pursuant to Section 53314.9 of the California Government
Code, at any time, either before or after the formation of a community facilities district,
the legislative body conducting proceedings for the formation of such a district may
accept advances of funds from any source, including, but not limited to, private persons
or private entities and may provide, by resolution, for the use of those funds for any
authorized purpose, including, but not limited to, paying any costs incurred by the local
agency in establishing the community facilities district, and the legislative body may
enter into an agreement, by resolution, with the person or entity advancing the funds to
repay all or a portion of the funds advanced; and
WHEREAS, there has been presented to the City Council an agreement
entitled "Funding and Acquisition Agreement Relating to City of San Jacinto Community
Facilities District No. 2008-1 (Parkside) Between the City of San Jacinto and DBN
Parkside, LLC," which provides, among other things, for (i)the advance of funds by
DBN Parkside, LLC, to the City to pay costs incurred and to be incurred by the City
relating to the establishment of the Community Facilities District, (ii) the design, and
construction of the public facilities by DBN Parkside, LLC, to be financed with the
proceeds of the sale of bonds of the Community Facilities District pursuant to the
provisions of Section 53313.5 of the California Government Code; and (iii) the design,
construction and management by the City of the public facilities to be constructed and
acquired with the proceeds of the sale of the bonds of the Community Facilities District;
and
WHEREAS, the City Council has determined that it is in the best interests
of the City and DBN Parkside, LLC, that the City enter into that agreement;
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NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED
BY THE CITY COUNCIL OF THE CITY OF SAN JACINTO AS FOLLOWS:
Section 1. The aforementioned agreement is approved and the City
Manager and City Clerk are authorized to sign and attest and deliver that agreement on
behalf of the City.
Section 2. The City Manager and the Director of Finance are authorized
to take any and all action required or necessary for the City to perform its part of the
aforementioned agreement.
SIGNED, APPROVED AND ADOPTED this 7th day of August, 2008, by
the following vote:
Ayes: Carlson, Mansperger, Potts, Stubblefield, Ayres
Nays: None
Abstain: None
Absent: None
CITY OF SAN JACINTO
By:
im Ayr , Mayor
ATTEST:
I
D rothy L. C uinard, City Clerk
APPROVED AS TO FORM:
C' Aft y, i of S Jacinto
Best, Best& Krieger LLP
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