HomeMy WebLinkAboutResolution No. 06-C038RESOLUTION NO. 06—C38
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
CITY OF GLENDORA
WHEREAS, the City Council of the City of Azusa (the "City") has commenced
proceedings to form Community Facilities District No. 2005-1 (ROSEDALE) 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
certain public facilities to be owned by the City of Glendora (the "Glendora"); and
WHEREAS, the City Council has been presented with a Joint Facilities Financing
Agreement (the "Financing Agreement') among the City, Azusa Land Partners, LLC and
Glendora for the purpose of stating the terms of funding the school facilities with the proceeds of
bonds to be issued by 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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PASSED, APPROVED AND ADOPTED this 50' day of June, 2006
Mayor
ATTEST:
City Clerk
I HEREBY CERTIFY that the foregoing resolution no. 06-C38 was introduced at
a regular meeting of the City Council of the City of Azusa held June 5, 2006 and approved by the
following vote:
AYES: HARDISON, CARRILLO, ROCHA, HANKS, CHAGNON
NOES: NONE
ABSENT: NONE
AGSTAIN: NONE
[SEAL]
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