HomeMy WebLinkAboutCC Reso No 2006-198RESOLUTION NO. 2006-198
RESOLUTION OF THE CTTY COUNCIL OF THE CITY OF
LAKE ELSINORE APPROVING A JOINT COMMITNITY
FACILITIES AGREEMENT AND A FEE DEPOSIT AND
REIMBURSEMENT AGREEMENT RELATING TO THE CITY
OF LAKE ELSINORE COMMUNITY FACILTTIES DISTRICT
NO. 2006-10 (RIVERLAKE VILLAS)
WHEREAS, the City Council (the "Council") of the City of Lake Elsinore
(the "City") has heretofare adopted Resolution No. 2006-179 ("Resolution of
Intention") stating its intention to form City of Lake Elsinore Community Faciliries
District No. 2006-10 (Riverlake Villas) (the "CFD") pursuant to the Mello-Roos
Community Facilities Act of 1982, as amended (the "AcY'); and
WHEREAS, Section 53316.2 of the Act states that a community facilities
district may finance facilities to be owned or operated by an entity other than the
agency that created the district only pursuant to a joint community facilities
agreement or a joint exercise of powers agreement; and
WHEREAS, certain capital fees to be financed by the CFD include those
capital fees to be paid to the Elsinore Valley Municipal Water District; and
WHEREAS, the developer with respect to the CFD intends to make a
security deposit with the City to cover certain City capital fees, which are eligible
for refund upon the sale of 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 Joint Community
Facilities 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 Joint Community Facilities
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.
CITY COi1NCIL RESOLUTION NO. 2006-198
Page 2 of 2
SECTION 2. 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 3. This Resolurion shall take effect from and after the date of its
passage and adoption.
PASSED, APPROVED AND ADOPTED this 28th day of November,
2006, by the following vote:
AYES: COUNCILMEMBERS: BUCKLEY, HICKMAN, KELLEY,
SCHIFFNER, MAGEE
NOES: COUNCILMEMBERS: NONE
ABSENT: COUNCILMEMBERS: NONE
ABSTAIN: COUNCILMEMBERS:
Robert E. M;
City of Lake
ATTE :
Frederick R , City Clerk
City of Lake Elsinore
AP ROVED~ T RM~)
;
,
1/C~
~rbara Zei eibold, City Attorney
City of Lake Elsinore