HomeMy WebLinkAbout2002-12-03; City Council; Resolution 2002-3491
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RESOLUTION NO. 2002-349
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CARLSBAD, CALIFORNIA, APPROVING AGREEMENT WITH
CALAVERA HILLS II, A CALIFORNIA LIMITED LIABILITY
COMPANY, FOR ACQUISITION, CONSTRUCTION, AND
FINANCING OF IMPROVEMENTS TO CANNON ROAD EAST AND
COLLEGE BOULEVARD AND TO MASTER DRAINAGE PLAN
FACILITIES BJB AND BJA FOR FINANCING DISTRICT NO. 01 -02
WHEREAS, the City Council of the City of Carlsbad, California (“City”) has been petitioned
by Calavera Hills II, LLC, a California Limited Liability Company (“Developer”), to initiate
proceedings to consider the formation of a land secured financing district (“District”) to finance the
acquisition of certain public improvements, located within the jurisdictional limits of City,
for portions of College Boulevard and Cannon Road, including appurtenant sewer and water utility
improvements, and Drainage Master Plan Facilities BJB and BJA (“Improvements”); and,
WHEREAS, Developer in order to proceed in a timely way with development of its
xoperty, known as Calavera Hills Phase II, desires to construct the Improvements in advance of
the formation of District and, following completion of the Improvements and formation of the
District, have the Improvements acquired by the City from the proceeds of bonds issued for or on
behalf of the District; and
WHEREAS, at this time, there has been submitted to the City Council for review and
spproval, an acquisition, construction, and financing agreement (“Agreement”) setting forth certain
terms and conditions, as well as estimated costs for work to be installed and financed pursuant to
the Agreement.
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Carlsbad,
Zalifornia, as follows:
1. That the above recitations are true and correct.
2. That the Agreement between the City of Carlsbad and Developer for the
xquisition, construction, and financing of said Improvements is hereby approved and the Mayor
s authorized and directed to execute said agreement.
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(SEAL)
3. That the City Clerk is authorized and directed to forward copies of the signed
agreement to Developer.
PASSED, APPROVED AND ADOPTED at a regular meeting of the Carlsbad City Council
DECEMBER , 2002 by the following vote, to wit:
nnila, Nygaard, Hall
NOES: None
ABSENT: Non
,eAINy. WOOD, City Clerk
Page 2 of 2 of Resolution No. 2002-349