HomeMy WebLinkAbout2003-09-16; City Council; Resolution 2003-2451
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RESOLUTION NO. 2003-245
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CARLSBAD, CALIFORNIA, APPROVING THE FORM OF THE
FIRST AMENDMENT TO THE ACQUISITION/FINANCING
AGREEMENT AND SPECIAL ASSESSMENT DISTRICT
DISCLOSURE AGREEMENT FOR ASSESSMENT DISTRICT NO.
2003-01 (COLLEGE BOULEVARD AND CANNON ROAD EAST).
WHEREAS, the City Council of the City of Carlsbad, California, pursuant to the provisions
of the Division 12 of the Streets and Highways Code of the State of California (the Municipal
Improvement Act of 1913) (the "Improvement Act") has undertaken proceedings to form and has
Formed an Assessment District for the purpose of financing the acquisition or construction of
certain works of improvement, together with appurtenances, such special assessment district
known and designated as Assessment District No. 2003-01 (College Boulevard and Cannon
Road East) (the "Assessment District"); and
WHEREAS, the City Council did previously approve an AcquisitiorVFinancing Agreement
(the "Acquisition/Financing Agreement") made and entered into December 11, 2002 by and
between the City of Carlsbad and Calavera Hills II LLC (the "Developer") to establish the terms
and conditions upon which the Improvements (as defined in the Acquisition/Financing Agreement)
would be acquired by the City; and
WHEREAS, the City and the Developer desire to amend the Acquisition/Financing
Agreement by entering into the First Amendment to the Acquisition/Financing Agreement,
the form of which has been presented to the City Council (the "First Amendment"); and
WHEREAS, the Developer requested that the assessments be permitted to pass-through
to the purchasers of individual lots within the Assessment District; and
WHEREAS, the City Council has approved the pass-through of such assessments subject
to the approval by the City Council of a disclosure program as required by paragraph 16 of the
City Council's Policy 33; and
WHEREAS, the City and the Developer desire to enter into a Special Assessment District
Disclosure Agreement, the form of which has been presented to the City Council (the "Disclosure
Agreement"), to establish such a disclosure program.
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NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Carlsbad,
Zalifornia, as follows:
1.
2.
The above recitals are all true and correct.
The form of First Amendment to the Acquisition/Financing Agreement, herewith
Submitted, is approved substantially in the form submitted. The Mayor is hereby authorized to
3xecute the final form of such agreement on behalf of the City. The City Manager, subject to the
?eview of the City Attorney and Bond Counsel, is authorized to approve changes in such
3greement deemed to be in the best interests of the City, approval of such changes to be
2videnced by the execution of such agreement.
3. The form of Disclosure Agreement, herewith submitted, is approved substantially in
the form submitted. The Mayor is hereby authorized to execute the final form of such agreement
3n behalf of the City. The City Manager, subject to the review of the City Attorney and Bond
Counsel, is authorized to approve changes in such agreement deemed to be in the best interests
Df the City, approval of such changes to be evidenced by the execution of such agreement.
PASSED, APPROVED AND ADOPTED at a Regular Meeting of the City Council of the
City of Carlsbad on the 16th day of SEPTEMBER , 2003 by the following vote, to wit:
AYES: Council Members Lewis, Finnila, Kulchin, Hall, Packard
NOES: None
ATTEST:
(SEAL)
Page 2 of Resolution No. 2003-245
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