HomeMy WebLinkAbout2005-11-15; Public Financing Authority; Resolution 14RESOLUTION NO. 14
A RESOLUTION OF THE CARLSBAD PUBLIC FINANCING
AUTHORITY OF THE CITY OF CARLSBAD, CALIFORNIA,
APPROVING THE LICENSE AGREEMENT BETWEEN THE CITY OF
CARLSBAD AND THE CARLSBAD PUBLIC FINANCING AUTHORITY
FOR DEVELOPMENT OF THE MUNICIPAL GOLF COURSE
WHEREAS, the City of Carlsbad owns the property shown in attached
Exhibit A to License Agreement which is designated for the construction of a municipal
golf course; and
WHEREAS, the Carlsbad Public Financing Authority (“Authority”) was
formed in 1999 as a joint powers authority by the City of Carlsbad (“City”) and the
Carlsbad Municipal Water District to finance, develop and operate the proposed
Carlsbad municipal golf course; and
WHEREAS, the Carlsbad Public Financing Authority approved the plans
and specifications for construction of the municipal golf course on May 3, 2005; and
WHEREAS, the City will ground lease the golf course property to the
Authority and the Authority will issue tax-exempt bonds to construct the golf course,
including the clubhouse, ancillary buildings and pads for two commercial parcels; and
WHEREAS, the Authority will lease back the completed golf course to the
City which will utilize golf course revenue to make lease payments which the Authority
will utilize to meet its obligations on the bond issuance; and
WHEREAS, the City of Carlsbad and Carlsbad Public Financing Authority
have entered into a license agreement intended to authorize the Authority to utilize the
golf course property for grading and development of the course and improvements
effective retroactive to May 3, 2005,
NOW, THEREFOREl BE IT RESOLVED by the City Council of the City of
Carlsbad, California, as follows:
1.
2.
That the above recitations are true and correct;
That the License Agreement Between City Of Carlsbad and Carlsbad
Public Financing Authority for Development of the Municipal Golf Course is hereby
approved.
3. That the City Manager on behalf of the City of Carlsbad and in his
capacity as the Executive Director of the Carlsbad Public Financing Authority is
authorized to execute all contractual land use and real property conveyances
documents required in the future to implement development and operation of the
Carlsbad municipal golf course.
PASSED, APPROVED AND ADOPTED at a regular meeting of the
Carlsbad City Council held on the 15th day of November I 2005
by the following vote, to wit:
AYES: Board Members Lewis, Hall, Kulchin, Packard, Sigafoose
NOES: None
ABSENT: None
ATTEST
Board of Directors