HomeMy WebLinkAboutCC Reso No 2006-138RESOLUTION NO. 2006-138
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
LAKE ELSINORE, CALIFOI2NIA, APPROVING A FEE
DEPOSIT AND REIMBURSEMENT AGREEMENT
RELATING TO THE CITY OF LAKE ELSINORE
COMMUNITY FACILITIES DISTRICT NO. 2006-3 (LA
STRADA)
WHEREAS, the City Council (the "Council") of the City of Lake Elsinare
(the "City") has heretofore formed City of Lake Elsinore Community Facilities
District No. 2006-3 (La Strada) (the "CFD") pursuant to the Mello-Roos
Community Facilities Act of 1982, as amended (the "AcY'); and
WHEREAS, the Developers intend to make a security deposit with the City
to cover certain City capital fees, which are eligible for refund upon the sale of the
special tax bonds for the CFD (the "Bonds") and the payment of such City capital
fees from the proceeds of such Bonds.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF
LAKE ELSINORE DOES HEREBY RESOLVE, DETERMINE AND
ORDER AS FOLLOWS:
SECTION 1. The City Council hereby approves the Fee Deposit and
Reimbursement Agreement in substantially the form presented to the City Council
at this meeting. The Mayor, the City Manager and the Director of Administrative
Services are hereby authorized to execute the Fee Deposit and'Reimbursement
Agreement with such revisions, amendments and completions as shall be approved
by the officer executing the same, such approval to be conclusively evidenced by
the execution and delivery thereof.
SECTION 2. This Resolution shall take effect from and after the date of its
passage and adoption.
CITY COLTNCIL RESOLUTION NO. 2006-138
Page 2 of 2
PASSED, APPROVED AND ADOPTED this 22°d day of August, 2006,
by the following vote:
AYES: COLTNCILMEMBERS:suckley, xickman, xelley
Schiffner, Magee
NOES: COUNCILMEMBERS:None
ABSENT: COLJNCILMEMBERS:tvone
ABSTAIN: COLTNCILMEMBERS:None
~t ~/
Robert E. Mage,~~1VIa
City of Lake Elsinore
ATTEST• ~
Frederick Ray, ity Clerk
City of Lake Elsinare
AP ROVED AS j ~~~~
f,
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B bara Zeid eibold, City Attorney
City of Lake Elsinore