HomeMy WebLinkAboutResolution No. 05-C0654/ 0
RESOLUTION NO. 05-C65
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
AZUSA, CALIFORNIA, APPROVING AND AUTHORIZING
EXECUTIOhf OF DEVELOPER FUNDING AND
ACQUISITION AGREEMENT RELATING TO PROPOSED
COMMUNITY FACILITIES DISTRICT NO. 2005-1
(ROSEDALE)
WHEREAS, There has been presented to the City Council (the "City Council') of
the City of Azusa (the "City") an agreement entitled Funding and Acquisition Agreement
Relating to City of Azusa Community Facilities District No. 2005-1 (Rosedale) (the "Funding
Agreement') to be entered into between City, on behalf of and for the proposed Community
Facilities District No. 2005-1 (Rosedale), and Azusa Land Partners, LLC (the "Developer") to be
served by City of Azusa Community Facilities District No. 2005-1 (Rosedale) of the City (the
"District"); and
WHEREAS, pursuant to the Funding Agreement, the City will use its best efforts
to form the District for the purpose of incurring bonded indebtedness to pay the costs of
construction and acquisition of public facilities described in the Funding Agreement; and
WHEREAS, the District will levy and collect special taxes on the taxable real
property within the District to pay the principal and interest on the bonded indebtedness; and
WHEREAS, the City Council has determined that the Funding Agreement should
therefore be approved;
NOW, THEREFORE, the City Council of the City of Azusa resolved that the
Funding agreement is approved and the Mayor or the City Manager are each authorized to
execute and deliver the Funding Agreement on behalf of the City in the form presented to the
City Council at the meeting at which this resolution is adopted, with such changes therein as the
officer executing the same may approve, such approval to be conclusively evidenced by the
execution and delivery thereof.
ADOPTED this 15` day of August, 2005
Mayor
ATTEST:
City Clerk
40 0
I, Vera Mendoza, City Clerk of the City of Azusa, California, do hereby certify
that the foregoing Resolution No. 05-C65 was regularly introduced and adopted by the City
Council of the City of Azusa, California, at a regular meeting thereof held on the I" day of
August, 2005, by the following vote of the City Council:
AYES: COUNCILMEMBERS: HARDISON, CARRILLO, HANKS, ROCHA, CHAGNON
NOES: COUNCILMEMBERS: NONE
ABSENT: COUNCILMEMBERS: NONE
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official
seal of the City of Azusa, California this ls` day of August, 2005
City Clerk