HomeMy WebLinkAboutResolution No. 02-C0290 0
RESOLUTION NO. 02-C29
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
AZUSA APPROVING THE EXECUTION AND DELIVERY OF A
JOINT FACILITIES FINANCING AGREEMENT AMONG THE
CITY, THE PROPERTY OWNER AND THE AZUSA UNIFIED
SCHOOL DISTRICT
WHEREAS, the City Council of the City of Azusa (the "City") has commenced
proceedings to form Community Facilities District No. 2002-1 (Mountain Cove) of the City of Azusa
pursuant to the terms and conditions of the Mello -Roos Community Facilities Act of 1982, as
amended, being Chapter 2.5, Part 1, Division 2, Title 5 of the Government Code of the State of
California (the "Act"); and
WHEREAS, a portion of the proceeds of the bonds to be issued by the proposed
community facilities district are intended to be used for the construction and acquisition of school
facilities and the satisfaction of statutory school fees payable to the Azusa Unified School District (the
"School District"); and
WHEREAS, the City Council has been presented with a Joint Facilities Financing
Agreement (the "Financing Agreement") among the City, Azusa Associates, LLC and the School
District for the purpose of causing stating the terms of funding the school facilities with the proceeds
of bonds to be issued aby the proposed community facilities district, and
NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED BY
THE CITY COUNCIL OF THE CITY OF AZUSA, COUNTY OF LOS ANGELES, STATE OF
CALIFORNIA, AS FOLLOWS:
Section 1. The above stated recitals are true and correct.
Section 2. Approval of Financing Agreement. The Financing Agreement is approved
in the form submitted to the City Council at the meeting at which this resolution is adopted, and the
City Manager is authorized to execute and deliver said Financing Agreement on behalf of the City.
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I HEREBY CERTIFY that the foregoing resolution has introduced at a regular
meeting of the City Council of the City of Azusa held March 4, 2002 and approved by the following
vote:
AYES: HARDISON,STANFORD, ROCHA,CHAGNON,MADRID
NOES: NONE
ABSENT: NONE
SECONDED: NONE
Mayor
[SEAL]
ATTEST:
City Clerk
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