HomeMy WebLinkAbout1991-06-25; City Council; Resolution 91-195c
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RESOLUTION NO. 91-195
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF CARLSBAD, CALIFORNIA,
ESTABLISHING A CREDIT AGAINST THE FEES
IMPOSED BY THE BRIDGE AND
THOROUGHFARE BENEFIT DISTRICT NO. 1
FOR PROPERTIES WITHIN THE BOUNDARIES
OF AND SUBJECT TO TAXATION BY
COMMUNITY FACILITIES DISTRICT NO. 1
WHEREAS, Section 20.08.140 of the Carlsbad Municipal Code allows
the City Council to establish a Bridge and Thoroughfare Benefit District; and
WHEREAS, the City Council has established Bridge and Thoroughfare
Benefit District No. 1, through the adoption of Resolution No. 8744; and
WHEREAS, Bridge and Thoroughfare Benefit District No. 1 imposes
a fee for the construction of the Palomar Airport Road, Poinsettia Lane and
La Costa Avenue Interchanges with Interstate 5; and
WHEREAS, the City Council has also formed Community Facilities
District No. 1 in an effort to create a guaranteed financing source for a
variety of projects including the Interchanges listed above; and
WHEREAS, to the extent that funds may be raised by Community
Facilities District No. 1 to support the construction of these Interchanges, it
is appropriate to provide a credit against fees imposed by Bridge and
Thoroughfare Benefit District No. 1.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City
of Carlsbad, California, as follows:
1. That the above recitals are all true and correct.
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2. That properties included within the boundaries of Community
Facilities District No. 1 that are subject to taxation by the District shall
receive a credit against any fees imposed by the Bridge and Thoroughfare
Benefit District No. 1.
3. That the amount of this credit will fully offset any obligation
to the Bridge and Thoroughfare Benefit District No. 1 to the extent that
construction costs for the above projects do not exceed costs funded through
the tax revenue received by Community Facilities District No. 1.
4. That, in the event that the costs of construction for the projects
listed above exceeds the funding ability of Community Facilities District No.
1, the Bridge and Thoroughfare Benefit District No. 1 fees may be assessed
in an amount necessary to fund the additional costs.
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5. That the amount of the credit against the Bridge and
Thoroughfare Benefit District fee shall be 100% of the fee obligation based
on current cost estimates.
PASSED, APPROVED AND ADOPTED at a regular meeting of
the City Council on the 25th day of June , 1991, by the
following vote, to wit:
AYES:
NOES: None
ABSENT: Council Member Nygaa
Council Members Lewis, Kulchin, Larson, and Stan1
ATTEST:
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(SEJW
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