HomeMy WebLinkAbout1995-01-17; City Council; Resolution 95-11%
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0 0 EXHIBIT
RESOLUTION NO. 95-11
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CARLSBAD, CALIFORNIA APPROVING THE EARLY REPAYMENT
TO AVIARA UNDER AN AGREEMENT FOR FORWARD FUNDING,
MITIGATION AND REIMBURSEMENT FOR PUBLIC FACILITIES
WHEREAS, On July 8, 1991, the City entered into an Agreement for
Forward Funding and Reimbursement for Public Facilities (the Agreement) with
Aviara Land Associates (Aviara) under which Aviara was to advance up to
$913,000 to the City for the design and other pre-construction work on the
Poinsettia Lane/lnterstate 5 overpass (the Project); and
WHEREAS, such advance has been made by Aviara and used by the
City to fund the work on the Project; and
WHEREAS, under the Agreement, reimbursement was to occur when
sufficient Bridge and Thoroughfare District fees were collected and allocated to the
Project or when bonds were issued for the Project under an assessment districi
or community facilities district; and
WHEREAS, the City has since formed Community Facilities District #1
(CFD) which incorporated this Project and the related Bridge and Thoroughfare
fees; and
WHEREAS, the CFD will have sufficient funds allocated to the Projec
to repay Aviara for their advance in fiscal year 1995-96 and such repayment ha:
been scheduled in the Capital Improvement Program (CIP) for payment in 1995
96; and
WHEREAS, in November 1994, Aviara requested that the City makt
reimbursement of the advance prior to its scheduled date; and
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WHEREAS, staff has determined that the CFD does have sufficient
funds to make such early repayment subject to a discount for the loss of interest
earnings to the CFD.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City
of Carlsbad, California as follows:
1. That the above recitations are true and correct.
2. That the City Council authorizes staff to reimburse Aviara $91 3,000
less the discount as further described below in full satisfaction of the City’s
obligations under the Agreement for Forward Funding and Reimbursement for
Public Facilities dated July 8, 1991.
3. That the reimbursement shall be discounted at an annual rate of
6% for the period from the date of payment to July 1 , 1995.
4. The Finance Director shall require Aviara to execute the attached
Full Release as a condition simultaneous with said payment.
PASSED, APPROVED AND ADOPTED at a regular meeting of the Citl
Council on the 17th day of JANUARY , 1995, by the following vote, to wit:
AYES: Council Members Lewis, Nygaard, Kulchin, Finnila
NOES: None
ABSENT: None
ATTEST:
l2eimLR-
ALETHA L. RAUTENKRANZ, City Clerk (SEAL)
e 0
AUACHMENT '
FULL RELEASE
KNOW ALL MEN BY THESE PRESENTS:
Qp)
' P il
That the Undersigned, being of lawful age, for s(
consideration of Eight hundred ninety
paid to Aviara Land Associates Limited Partnership, a Delaware Limited Partners1
("Aviara"), does hereby and for its heirs, executors, administrators, successors a
assigns release, acquit and forever discharge the City of Carlsbad and its ager
corporations, associations or partnerships from any and all claims, actions, causes
action, demands, rights, damages, costs, loss of service, expenses and compensat
whatsoever, which the undersigned now has or which may hereafter accrue relatinc
the reimbursement of funds advanced by Aviara pursuant to the July 8, 1991 Agreem
for Forward Funding, Mitigation and Reimbursement approved by the City Council on
18th day of June, 1991 in Carlsbad California, by Resolution No. 91-207.
thousa undred seven VoI&i!: ($-, 1_ 7 r; - ,,y
servants, successors, heirs, executors, administrators and all other persons, firr
THE UNDERSIGNED HAS READ THE ABOVE AND FULLY UNDERSTANDS IT TO
A FULL AND FINAL RELEASE OF ALL CLAIMS.
Signed and delivered this 30th day of January ,19=.
SEE ATTACHED
Signature
~~~~
Signature
Resolution No. 95-1 1
d 0 0
I
AVIARA LAND ASSOCIATES LIMITED PARTNERSHIP, a Delaware limited partnership
/I
General Partner
Bp
By:
J - CALIFORNIA ALL-PURPOSE ACKNOWLEDGEMENT I
STATE OF CALIFORNIA 1
COUNTY OF h d&/ /A!@ 1 c
On /,/!y$i? 5- before me,/d&h'LE& - Ahlr\/ EhRLPY, /VL'mk Y &fiL IC-
NAME, TITLE OF OFFICER - $.G.. "JANE DOE, NOTARY PUBLIC"
personally appeared, d. L. c/ k- #'?FN. 5
personally known to'me (1 ) to be the person(s) whose name(:
subscribed to the within instrument and acknowledged to me that b&he/they executed the same in 4&er/their i
capacity(ies), and that by h&tw/their signature(s) on the instrument the person(s), or the entity upon behalf of wI
person(s) acted, executed the instrument.
WITNESS my hand and official seal.
/ '/ A' dCN / . ,5.2?/ ACE
.I
d(. ,(,( G,,h LL (SEAL)
NOTARY PUBLIC SIGNATURE / - OPTIONAL INFORMATION -
TITLE OR TYPE OF DOCUMENT
DATE OF DOCUMENT NUMBER OF PAGES
SIGNER(S) OTHER THAN NAMED ABOVE
e d)
8
AVIARA LAND ASSOCIATES LIMITED PARTNERSHIP,
a Delaware limited partnership
By:- corporation, General Partner
\
ry - CALIFORNIA ALL-PURPOSE ACKNOWLEDGEMENT -
STATE OF CALIFORNIA 1
COUNTY OF J&/! &?76 )
on /,,,(zf/y? before me,k/hi 1 pLLm - - A!*E &E LE,' NdTA2 Y dB[
NAME. TITLE OF OFFICER - E.G.. -JA& DOE. NOTARY PUBLIC
I
personally appeared, B. l . LLFMEfl5 5 5" 7r m. D/EA4/v5k Y
personally known to me (y) to be the person(s) whose name
subscribed to the within instrument and acknowledged to me that b&Ae/they executed the same in ktffker/theil
capacity(ies), and that by WMitheir signature(s) on the instrument the person(s), or the entity upon behalf of \
person(s) acted. executed the instrument.
WITNESS my hand and official seal.
I i
.. - L 1 , ,./UU ~!<AL" (SEAL)
NOTARY PUBLIC SIGNATURE /' - OPTIONAL INFORMATION -
TITLE OR TYPE OF DOCUMENT
DATE OF DOCUMENT NUMBER OF PAGES
SIGNER(S) OTHER THAN NAMED ABOVE