HomeMy WebLinkAbout2021-041 CFD 2019-1 (Westlake) Funding Agreement and JCFA Amendments
RESOLUTION NO. 2021-41
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE,
CALIFORNIA, APPROVING AMENDMENTS TO FUNDING AGREEMENT AND
JOINT COMMUNITY FACILITIES AGREEMENT RELATING TO COMMUNITY
FACILITIES DISTRICT NO. 2019-1 OF THE CITY OF LAKE ELSINORE
(WESTLAKE)
Whereas, the City Council (the “City Council”) of the City of Lake Elsinore (the “City”), has
heretofore undertaken proceedings to establish Community Facilities District No. 2019-1 of the
City of Lake Elsinore (Westlake) (the “District”) and declared the necessity to issue bonds on
behalf of the District pursuant to the terms and provisions 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 (Act); and,
Whereas, the City, acting on behalf of itself and the District, entered into that certain
Funding Agreement dated as of August 13, 2019 with TRI Pointe Homes (formerly known as
Pardee Homes), a California corporation (the “Owner”) (the “Original Funding Agreement”) which
provided for the funding of improvements to facilities through the District; and,
Whereas, the City and the Owner desire to enter into that certain First Amendment to
Funding Agreement (the “Funding Agreement Amendment”) in substantially the form presented
at this meeting, which amends the Original Funding Agreement to include additional
improvements and facilities as eligible to be financed through the District; and,
Whereas, the City, Elsinore Valley Municipal Water District (“EMVWD”) and the Owner,
entered into that certain Joint Community Facilities Agreement dated as of September 1, 2019
with respect to the District (the “Original JCFA”); and,
Whereas, the City, EMVWD and the Owner desire to into that certain First Amendment to
Joint Community Facilities Agreement (the “JCFA Amendment”) in substantially the form
presented at this meeting, for the purpose of adding additional improvements and facilities to the
Original JCFA as eligible to be financed through the District.
NOW, THEREFORE, THE CITY COUNCIL, OF THE CITY OF LAKE ELSINORE, DOES
HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOW:
Section 1. Each of the above recitals is true and correct.
Section 2. The form of the JCFA Amendment presented at this meeting is hereby
approved and each of the Mayor, the City Manager, the Assistant City Manager, or their written
designees (each, an “Authorized Officer” and collectively, the “Authorized Officers”), is hereby
authorized and directed to execute the JCFA Amendment in the form hereby approved, with such
additions therein and changes thereto as the officer or officers executing the same deem
necessary to cure any defect or ambiguity therein, with such approval evidenced by the execution
and delivery of the JCFA Amendment.
Section 3. The form of the Funding Agreement Amendment presented at this meeting is
hereby approved and each of the Authorized Officers is hereby authorized and directed to execute
the Funding Agreement Amendment in the form hereby approved, with such additions therein and
changes thereto as the office or officers executing the same deem necessary to cure any defect
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CC Res. No. 2021-41
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or ambiguity therein, with such approval evidenced by the execution and delivery of the Funding
Agreement Amendment.
Section 4. This Resolution shall be effective upon its adoption.
Passed and Adopted at a regular meeting of the City Council of the City of Lake Elsinore,
California, this 13th day of April 2021.
Robert E. Magee
Mayor
Attest:
Candice Alvarez, MMC
City Clerk
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.
CITY OF LAKE ELSINORE )
I, Candice Alvarez, MMC, City Clerk of the City of Lake Elsinore, California, do hereby certify that
Resolution No. 2021-41 was adopted by the City Council of the City of Lake Elsinore, California,
at the Regular meeting of April 13, 2021 and that the same was adopted by the following vote:
AYES: Council Members Tisdale, Johnson, and Manos; Mayor Pro Tem Sheridan; and
Mayor Magee
NOES: None
ABSENT: None
ABSTAIN: None
Candice Alvarez, MMC
City Clerk
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