Loading...
HomeMy WebLinkAbout1993-07-13 - AGENDA REPORTS - VALENCIA TRAFSIG 92 5 (2)AGENDA REPORT City Manager Item to be presented by Anthony J. Nisich,{ CONSENT CALENDAR �— DATE: July 13, 1993 SUBJECT: VALENCIA INDUSTRIAL CENTER TRAFFIC SIGNAL REIMBURSEMENT INTEGRATED FINANCING ASSESSMENT DISTRICT NO. 92-5 Resolution No. 93.100 Resolution No. 93-101 DEPARTMENT: Community Development BACKGROUND On August 25, 1992, (see attached August 25, 1992 agenda) an agreement was approved with regards to this district, where the County would grant consent and Jurisdiction to the City to form and administer this district. This gives the City authorization over all aspects of the District and Its formation without having to seek approval from the County on each step. This agreement was subsequently signed by all parties and submitted for approval on November 4, 1992. Since that time, the City has been working with the property owners to finalize the details of the District. These matters have now been resolved and It Is appropriate to proceed with the actual formation of the District. The August 25 agenda, preliminary Engineer's Report, and signed agreement are attached for the Council's reference. RECOMMENDATION That the City Council approve Resolution No. 93.100, declaring its intention to order creation of its Integrated Financing District No. 92-5, and Resolution No. 93.101, preliminarily approving the Engineer's Report and setting a public Information meeting and public hearing on August 24, 1993 and September 14, 1993, respectively. ATTACHMENTS Resolution No. 93.100 Resolution No. 93-101 Agreement Preliminary Engineer's Report – in City Clerk'a reading file. August 25; 1992 - Agenda coumifimM.100.br— 3 — Adopted, Ace 10 Iter: RESOLUTION NO. 93- loo A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA CLARITA DECLARING ITS INTENTION TO ORDER CREATION OF ITS INTEGRATED FINANCING DISTRICT NO. 92-5 (VALENCIA INDUSTRIAL CENTER TRAFFIC SIGNAL IMPROVEMENTS) OF THE CITY OF SANTA CLARITA. WHEREAS, the City Council ("City Council") of the City of Santa Clarita, California ("City") has requested the institution of proceedings for the construction of certain improvements and payment of incidental expenses by creation of its Integrated Financing District No. 92-5 (Valencia Industrial Center Traffic Signal Improvements) ("District"), as shown on that certain map designated "Proposed Boundaries of Integrated Financing District No. 92-5", attached hereto and incorporated herein as Exhibit "A"; and WHEREAS, the City Council of the City has considered all matters relating to the proposed financing and construction of certain public improvements in the vicinity of the Valencia Industrial Center pursuant to the Integrated Financing District Act ("Financing District Act") and the Landscaping and Lighting Act of 1972,("1972 Act"), and specifically for the levy of contingent assessments ("Assessments") against properties within the District, a description of the rate and method of apportionment for such Assessments being attached hereto and incorporated herein as Exhibit "B"; and WHEREAS, the Financing District Act provides an alternative method of financing the improvements, by authorizing the Assessments which are contingent upon the development of land and which may be made payable at the time of approval of a tentative subdivision map, vesting tentative subdivision map, final subdivision map, zoning change,*or upon receipt of a building permit for any parcels which have already received all other required approvals for development; and WHEREAS, the Financing District Act authorizes proceedings to create an integrated financing district to be combined with formation proceedings under the 1972 Act; and WHEREAS, the Financing District Act authorizes the legislative bodies of two or more local agencies to enter into an agreement to exercise any power authorized by the Financing District Act or the 1972 Act; and [WHEREAS, the County of Los Angeles ("County") and the City intend for the Newhall Land and Farming Company, a California limited partnership ("Developer") to commence construction of certain improvements and the Developer is willing and able to advance moneys or work -in-kind or commit to advance moneys or work -in-kind at such time and in sufficient amounts so that Improvements may be completed; and [WHEREAS, a portion of the improvements within the County's jurisdiction, when constructed by the Developer to the County's satisfaction and pursuant to an engineer's report, shall be accepted for ownership, operation and maintenance by the County pursuant to a Joint Public Facilities Agreement dated August 28, 1992 (the "Agreement"), by and between the County and the City; and [WHEREAS, a portion of the improvements within the City's jurisdiction, when constructed by the Developer to the City's satisfaction and pursuant to an engineer's report, shall be accepted for ownership, operation and maintenance by the City pursuant to the Agreement; and] WHEREAS, the City Council intends that a public hearing on the formation of the District under the Financing District Act will be combined with the public hearing required pursuant to the 1972 Act, with notice of the hearing to be made in the manner required by the 1972 Act; NOW, THEREFORE, IT IS HERESY RESOLVED, DETERMINED AND DECLARED by the City Council of the City of Santa Clarita, California as follows: SECTION 1. The above recitals are all true and correct. SECTION 2. The public interest, convenience and necessity require, and it is the intention of the City Council, pursuant to the provisions of the Financing District Act and the 1972 Act, to order construction of the improvements within the District boundaries shown in Exhibit "A". SECTION 3. The City Council has determined to proceed in forming an integrated financing district pursuant to the Financing District Act and the 1972 Act. SECTION 4. The area to be benefitted by said improvements and to be assessed to pay the costs and expenses thereof and to be known as Integrated Financing District No. 92-5 (Valencia Industrial Center Traffic .Signal Improvements) of the. City of Santa Clarita shall be that part of the District having exterior boundaries as shown on Exhibit "A", which map is on file in the office of the City Clerk. Reference hereby is made to that map and exhibit for -2- a full and complete description of the proposed assessment district, and "Exhibit A" shall govern all details as to the extent of the boundaries of the proposed District. SECTION 5. The Engineer of Work shall furnish to the City Council a report in writing pursuant to the 1972 Act, presenting the following: (1) Plans and specifications of the proposed project; and (2) An estimate of the costs of the proposed project, including incidental costs and expenses in connection therewith; and (3) A diagram showing the proposed assessment district; and (4) A proposed assessment of the total amount of the cost and expenses of the proposed improvement (meeting the requirements of Streets and Highways Code § 22569). [SECTION 6. Each contract shall be let to the lowest responsible bidder. The City Clerk shall publish notice inviting sealed proposals for each contract pursuant to Government Code Section 6066, or by such posting as the City may provide. The time fixed for the opening of bids shall not be less than fourteen (14) days after the first publication or posting of the notice.] SECTION 7. The public interest, convenience and necessity require that certain land, rights-of-way, easements and improvements be obtained in order to fulfill the purposes proposed for the assessment district. For a general description of the location and extent of the easements or lands necessary to be acquired, reference is made to Exhibit "A" on file with the City Clerk. SECTION 8. If any excess shall be realized from the assessment, it shall be used, in such amounts as the City Council may determine, in accordance with the provisions of law, for one or more of the following purposes: A. Transfer to the general fund of the City; provided that the amount of any such transfer shall not.exceed the lesser of One Thousand Dollars ($1,000.00) or five percent (5%) of the total from the Improvement Fund (as defined herein); B. As a credit upon the assessment and any supplemental assessment; or C. For the maintenance of the improvement. SECTION 9. A special improvement fund identified and designated by the name of Integrated Financing District No. 92-5 (Valencia Industrial Center Traffic Signal Improvements) Improvement Fund hereby is established (the "Improvement Fund"), and into -3- said fund monies may be transferred at any time to expedite the making of the improvements herein authorized, and any such advance of funds is a loan and shall be repaid out of the Assessments as authorized by law. SECTION 10. The City Engineer, whose telephone number is (805) 259-2489, hereby is designated by the City Council to answer inquiries regarding the hearing procedures for the Resolution of Intention and to answer inquiries relative to any hearing or proceedings concerning this project where itis required by statute that such agency and telephone number be so designated and provided. SECTION 11. All public agency property in the use and performance of a public function shall be omitted from assessment in these proceedings unless expressly provided and listed here. [SECTION 12. As authorized by the Financing District Act, after formation of the District the City intends to execute a Reimbursement Agreement ("Reimbursement Agreement") to repay funds advanced by the Developer to fund the improvements. The Reimbursement Agreement will be executed pursuant to the terms of Section 53190.5 of the Financing District Act.] SECTION 13. The public hearing required by Section 53183 of the Financing District Act shall be combined with the public hearing required by the 1972 Act. At the time and place to be designated for the public hearing, any owner of property liable to be assessed pursuant to this Resolution of Intention may make a written protest, which shall be heard and passed upon by the City Council. Reference is made to Section 53183 of the Financing District Act for further particulars, the terms of which are incorporated herein by reference. SECTION 14. The City Clerk shall certify the adoption of this. Resolution. J lie PASSED, APPROVED AND ADOPTED this day of 1993. Mayor ATTEST: City Clerk STATE OF CALIFORNIA ) COUNTY OF LOS ANGELES ) § CITY OF SANTA CLARITA ) 1, DO HEREBYCERTIFY that the above and foregoing Resolution was duly adopted by the City Council of the City of Santa Clarita at a regular meeting thereof, held on the day of , 1993 by the following vote of Council: AYES: COUNCILMEMBERS: NOES: COUNCILMEMBERS: ABSENT: COUNCILMEMBERS: •5- City Clerk PROPOSED BOUNDARIES VALENCIA INDUSTRIAL CENTER SIGNAL DISTRICT NO.91-1 CUT OF SANTA CLAWA MOM OF LOS ANOFUl STATe OF CALIFORNIA LEGEND: w«.... YAte"m eo+ISIxm Comm rtMIIMTMAP • cliTR:OIIN UK W"At OIITRICT IO+ANART . L TAAFRO I GM I PAOPMO) Q AMWMeNT mmom SHEET 1 OF 1 SHEETS BOOK 2!1 f trlm.V•Rwl.� P� 11:1Y PRELIMINARY REPORT OF ENGINEER FOR CITY OF SANTA CLARITA INTEGRATED FINANCING ASSESSMENT DISTRICT NO. 92-5 VALENCIAINDUSTRIALCENTER TRAFFIC SIGNAL IMPROVEMENTS EXPLANATION OF FEES City of Santa Ciarita Fees will be determined by dividing the total assessment cost by the number of undeveloped acres, including that acreage for which an Interim fee has. already been paid. Fees are payable upon approval by the City Council or Board of Supervisors of a subdivision map or issuance of a building permit, whichever occurs first. The City, County, or any developermayconstruct the Intersection Improvements as mutually agreed upon. Once the District Is established, Newhall Land and Fanning will fund the cost of the traffic signal Improvements to the Avenue Scott/Rye Canyon Road and the Avenue Scott/Avenue Tibbits Intersections if warranted. Newhall Land and Farming will also fund up to $8,000 for City costs to establish this district. The City shall establish the district and collect the fees which shall be kept in a separate Interest bearing account and not commingled with other City funds. Reimbursement payments will be made quarterly from fees collected by the City based on the earliest date of the expenditure of funds for traffic Improvements. After all the lots are built upon or fees collected from all the lost obligated to pay fees, an accounting shall be made of the district account. If all three signals have been Installed and appropriate reimbursements made to the entity/entitles which Installed the signal, any fees totaling in excess of $20,000 shall be refunded to the payees of the original fees based on a ratio of their fees to the total fees collected. Fees totaling less than $20,000 In the combined County/City funds shall be used for signal maintenance of the signals within the District. If any of the three signals have not yet been Installed, a warrant analysis should be done and If that location(s) meets 75 percent or more of any of the Improvements, these funds should be retained for a period of one year. At the end of this year, If warrants as indicated above are still not met, excess fees collected shall be refunded to the owners of record at that time. After the final accounting has been done, the district shall be dissolved. Once this district Is established with the appropriate fee, adjustments or refunds should Immediately be made to all having paid the current in -lieu fee of $4,500 per acre. Funds provided to Initiate and establish this district must be Included in district costs and be refunded to the payee from collected fees. J..'1171Y I. DESCRIPTION OF SERVICE Traffic Signal Fees are necessary to fund. Improvements at existing or new Intersections as a result of Increased traffic needs to accommodate new development. Traffic Signal Fees would be considered as the developer's "fair share" contribution to mitigate incremental traffic impacts of their projects. When these projects are relatively small, their traffic Impact Is considered "insignificant." However, the accumulated development Impacts are significant. Significance is defined as any Impact of traffic created by the project which results in a change in the volumelcapacity ratio of more than two percentage points. This fee. is Intended to provide for Improvements to intersections for traffic signal improvements only. The Valencia Industrial Center, located in the northwest comer of the City of Santa Clarita, is situated in both the City and the unincorporated area of the County. As a result of traffic Impact studies, it has been determined that there is a need for three traffic signals within the center. Avenue Scott and Rye Canyon Road (City) • Avenue Scott and Avenue Tibblts (unincorporated County) • One Intersection to be determined at a later date The Improvements will consist of traffic signals only. Once the district is established, an analysis of the two existing intersections will be done 'to determine if signaitzation is warranted as well as the priority for installation. If signallzation Isnot warranted, further warrant analysis will be performed as traffic volumes Increase or accident occurrences dictate that a new analysis be performed. The parcels and assessments Included herein do not Include any prior unpaid special assessments. The current total true value of land and Improvements on.the parcels listed In Exhibit "C" based on 1.993 assessor information Is $49,oa9,7oo. The proposed district will not Include more than three proposed signalized Intersections. RESOLUTION NO. 93--101 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA CLARITA PASSING ON AND PRELIMINARILY APPROVING THE ENGINEER'S REPORT AND SETTING A PUBLIC MEETING AND A PUBLIC HEARING ON THAT REPORT WITH RESPECT TO ITS INTEGRATED FINANCING ASSESSMENT DISTRICT NO. 92-5 (VALENCIA INDUSTRIAL CENTER TRAFFIC SIGNAL IMPROVEMENTS) OF THE CITY OF SANTA CLARITA. WHEREAS, the City Council ("City Council") of the City of Santa Clarita, California ("City") has instituted proceedings for the construction of certain improvements and payment of incidental expenses by creation of its Soledad Canyon Integrated Financing Assessment District No. 92-4 ("District"); and WHEREAS, the City Council of the City has considered all matters relating to the proposed financing and construction of certain public improvements in the vicinity of the Valencia Industrial Center pursuant to the Integrated Financing District Act ("Financing District Act") and the Landscaping and Lighting Act of 1972 (" 1972 Act"), and specifically for the levy of contingent assessments ("Assessments") against properties within the District; and WHEREAS, there has been prepared and filed with the City Council a report of the Engineer ("Engineer's Report") as provided for in the 1972 Act, and the Engineer's Report has been presented for consideration; and WHEREAS, a Resolution of Intention has been adopted as of the date hereof regarding the District, and the Engineer's Report shall stand as the Engineer's Report for the purpose of subsequent proceedings hereunder; and WHEREAS, the Financing District Act authorizes proceedings to create an integrated financing district to be combined with formation proceedings under the 1972 Act; and WHEREAS, the Integrated Financing District Act authorizes the legislative bodies of two or more local agencies to enter into an agreement to exercise any power authorized by the Financing District Act or the 1972 Act; and [WHEREAS, the County of Los Angeles ("County") and the City intend for the Newhall Land and Farming Company, a California limited partnership ("Developer") to commence construction of certain improvements and the Developer is willing and able to advance moneys or work -in-kind or commit to advance moneys or work -in-kind at such time and in sufficient amounts so that Improvements may be completed; and [WHEREAS, a portion of the improvements within the County's jurisdiction, when constructed by the Developer to the County's satisfaction and pursuant to the Engineer's Report, shall be accepted for ownership, operation and maintenance by the County pursuant to a Joint Public Facilities Agreement dated August 28, 1992 (the "Agreement"), by and between the County and the City; and [WHEREAS, a portion of the improvements within the City's jurisdiction, when constructed by the Developer to the City's satisfaction and pursuant to the Engineer' Report, shall be accepted for ownership, operation and maintenance by -the City pursuant to the Agreement; and] WHEREAS, the City Council intends that a public hearing on the formation of the District under the Financing District Act will be combined with the public hearing required pursuant to the 1972 Act, with notice of the hearing to be made in the manner required by the 1972 Act; NOW, THEREFORE, IT IS HEREBY RESOLVED, DETERMINED AND DECLARED by the City Council of the City of Santa Clarita, California as follows: SECTION 1. The above recitals are all true and correct. SECTION 2. The Engineer's Report referred to hereinabove is considered adopted, passed upon, and preliminarily approved, as follows: (1) That the plans and specifications for the proposed improvements to be made, contained in said Engineer's Report be, and they are hereby preliminarily approved and adopted; (2) That Engineer's estimate of the itemized and total costs and expenses of said construction, where necessary, and improvements, and of the incidental expenses in connection therewith, contained in said Report, be, and each of them are; hereby preliminarily approved and adopted; -2- (3) That the diagram showing the District referred to and described in said Resolution of Intention, and also the boundaries and dimensions of the respective subdivisions of land within said District, as the same existed at the time of the passage of said Resolution of Intention, as contained in said Engineer's Report, be, and hereby are preliminarily approved and adopted; (4) That the proposed Assessment upon the several subdivisions of land in said District, in proportion to the estimated benefits to be received by such subdivisions, respectively, from said acquisition and improvements, and of the incidental expenses thereof, as contained in said Engineer's Report, be, and they are hereby preliminarily approved and adopted; (5) That the maps and descriptions of the lands and easements to be acquired, as contained in said Engineer's Report be, and the same are hereby preliminarily approved; (6) That said Engineer's Report shall stand as the Engineer's Report for the purpose of all subsequent proceedings had pursuant to said Resolution of Intention. SECTION 3. NOTICE HEREBY IS GIVEN THAT ON 14 1993 AT 7:30 P.M AT THE CITY COUNCIL CHAMBERS, 23920 VALENCIA BOULEVARD, SANTA CLARITA, CALIFORNIA, ANY AND ALL PERSONS HAVING ANY OBJECTIONS TO THE PROPOSED WORK, OR ASSESSMENT, OR EXTENT OF THE DISTRICT MAY APPEAR AND SHOW CAUSE WHY SAID WORK SHOULD NOT BE DONE OR CARRIED OUT IN ACCORDANCE WITH THE RESOLUTION OF INTENTION AND THE ENGINEER'S REPORT. Notice is also hereby given that the additional public meeting required by the Ralph M. Brown Act shall be held h'JLEt 24 , 1993. SECTION 4. The above -referenced public hearing required by Section 53183 of the Financing District Act shall be combined with the public hearing required by the 1972 Act. At the time and place to be designated for the public hearing, any owner of property liable to be assessed pursuant to this Resolution of Intention may make a written protest, which shall be heard and passed upon by the City Council. Reference is made to Section 53183 of the Financing District Act for further particulars, the terms of which are incorporated herein by reference. SECTION 5. The City Clerk is hereby directed to mail notice of said public protest hearing and the adoption of the Resolution of Intention and of the filing of the Engineer's Report to all persons owning real property proposed to be assessed, whose names and addresses appear on the last equalized assessment roll for Los Angeles County taxes prior hereto, or as known to said City Clerk, and to all other persons as prescribed in accordance with the provisions of the 1972 Act. -3- SECTION 6. The above notices of said public protest hearing shall include a statement of the total principal amount of unpaid assessments already levied against all property proposed to be assessed, as computed in the Engineer's Report, in accordance with Streets and Highways Section 2961(c). SECTION 7. The City Clerk is hereby further directed to file a copy of the proposed boundary map in the Office of the Los Angeles County Recorder, within fifteen (15) days of the adoption of the proposed boundary map; said boundary map to be in the manner and form as set forth in Division 4.5 of the California Streets and Highways Code commencing with Section 3100. SECTION 8. The City Clerk shall certify the adoption of this Resolution. IM PASSED, APPROVED AND ADOPTED this day of 1993, Mayor ATTEST: City Clerk STATE OF CALIFORNIA ) COUNTY OF LOS ANGELES ) § CITY OF SANTA CLARITA I, DO HEREBY CERTIFY that the above and foregoing Resolution was duly adopted by the City Council of the City of Santa Clarita at a regular meeting thereof, held on the day of , 1993 by the following vote of Council: AYES: COUNCILMEMBERS: NOES: COUNCILMEMBERS: ABSENT: COUNCILMEMBERS: .g. City Clerk COUNTY OF LOS ANGELES AND C INTEGRATED FINANCING. IS SANTA CLARTTA DIS (VALENCIA INDUSTRIAL CENTER DISTRICT T N0.92-5 TRAFFIC SIGNAL IMPROVEMENTS) JOINT PUBLIC FACILITIES AGREEMENT This AGREEMENT is made and entered into this 28th and This the COUNTY OF LOS ANGELES, a political subdivision Of the 992' by California (the "County"), and the CITY OF SANTA CLARTTA, CALIFORNIA, a general law city and municipal corporation (the "City"). RECITAL$. WHEREAS, the County adopted its Resolution No92=16�n 1992, . 75th , declaring that this Joint Public Facilities Agreement (the beneficial to the residents of the County; and Agreement") would , WHEREAS, the. City adopted its Resolution No.92_1f& Aug. declaring that this Agreement would be beneficial 2. ficial to the residents of the City; and 8 y dated J iy 1e 1991, andy has rec date and filed a "Preliminary Report of Engineer" ori mall attached hereto and incorporated herein ams as of August 25,-1992 (the "Engineer's Report"), (the "Improvements•) to be constructed in the Elh" "' describing certain public facilities and general area of the Valencia Industrial C WHEREAS, the County and the City intend to initiate proceedings for the formation Of an assessment district pursuant to the Landscaping and Lighting Act of 1972, commencing with California Streets and Highways Code Section 22500, and the Integrated Financing District Act, commencing with California Government Code Section 53175 (collectively, the "Acts`), designated the City of Santa Clarita and County of Los Angeles, Integrated Financing District No. 92.5 (Valencia Industrial Center of Signal Improvements) (the "Integrated Financing District') (the proposed boundaries for which are described in the Engineer's Report), to finance the construction and acquisition of the Improvements; and local agencies to enter into an agreement to exercise any power WHEREAS, California Government Code Section 53179.5 authorizes the legislative bodies of two or more authorized by the Acts; 'and CWHEREAS, the County and the City intend for the to advance moneys or work -in-kind or ") to commence construction of Newhall Land and Farming ompany, a California limited partnership (the "Developer the Improvements and Developer is willing and abl commit to advance moneys or work -in-kind at such time and in sufficient amounts so that Improvements may be completed; and 3.4 WHEREAS, a portion of the Improvements within the County's jurisdiction, W constructed by the Developer to the County's satisfaction and pursuant to the Engine'eKg Report, shall be accepted for ownership, operation and maintenance by the County purs"a^ to this Agreement; and WHEREAS, a portion of. the Improvements within the City's jurisdiction, when constructed by the Developer to the City's satisfaction and pursuant to the Engineer' Report, shall be accepted for ownership, operation and maintenance by the City pursuant to this Agreement; and WHEREAS, the Developer is willing to proceed with the construction of the Improvements upon receipt of this Agreement, in executed form, from the County and the City indicating their commitment to reimburse the Developer for such advances upon receipt of moneys from contingent assessments to be levied for the payment of the Improvements for which the advances were made, pursuant to the terms of this Agreement. NOW, THEREFORE, the COUNTY OF LOS ANGELES and the CITY OF SANTA CLARITA hereby agree as follows: AGREEMENT 1• Recitals. The above recitals are all true and correct. 2. Construction of Imnrovemen s. The Improvements shall be constructed by Developer according to the County's and the City's plans and specifications, as may be • applicable, and as more fully set forth in,the Reimbursement Agreement. Upon completion of the Improvements to the satisfaction of the County and the City, the County and the City shall accept the Improvements located within their respective jurisdictions: 3. R=&=en!• The County and the City hereby agree to repay the Developer the amount of its expenditures, without interest, as full payment for the moneysexpended by Developer for the Improvements financed by the Integrated Financing District, solely from and upon receipt of moneys from contingent assessments to be levied under the Integrated Financing District proceedings conducted by the City, pursuant to the limitations of Section 7 herein. It is the intent of the parties that, following formation of the Integrated Financing District, the County, City and Developer will execute a Reimbursement Agreement for repayment of said expenditures, pursuant to Government Code Section 53190 !rl =. 4. County Territory. The County shall permit the construction of the Improvements, pursuant to the Engineer's Report, to be completed in certain territory of the County outside of the City's boundaries. The County shall also grant, upon written request and by an appropriate instrument, all licenses and easements on County -owned property which may be necessary for the construction of the Improvements, or any part thereof. - IsaaA -2- 5. Use of the I ;movements in Count♦, Territory. Upon completion of construction pursuant to the Engineer's Report and to the satisfaction of the County, and acceptance by the County, of the Improvements located within the territory of the County, said facilities shall be and remain the sole and separate property of the County. The Improvements within the territory of the County shall be operated, maintained and utilized by the County to serve the properties within the County and other lands pursuant to applicable rules, regulations, policies and procedures of the County. 6. Use of the Improvements within the City Boundaries. Upon completion of construction pursuant to the Engineer's Report and to the satisfaction of the City, and acceptance by the City, of the Improvements located within the City boundaries, said facilities shall be and remain the sole and separate property of the City. The Improvements within the City boundaries shall be operated; maintained and utilized by the City to serve the properties within the City and other lands pursuant to applicable rules, regulations, policies and procedures of the City. 7. Formation and Operation of the Integrated Financing District. It is the intent of the parties that this Agreement is made pursuant to California Government Code Section 53179.5 and that the City retains all right, title and responsibility to control the formation and operation of the Integrated Financing District on the County's behalf as authorized by the Acts, including, but not limited to, conducting proceedings to create She Integrated Financing District, and confirming and collecting any levy. It is the intent of the parties to this Agreement that the City's authority granted by this Section is for the sole purpose of facilitating formation and operation of the Integrated Financing District and does not extend to any other actions or proceedings over which the County has proper jurisdiction and authority. 8. General. This Agreement contains the entire agreement between the parties with respect to the matters herein provided for, and may only be amended by a subsequent written. agreement executed by all parties. This agreement may be executed in counterparts, each of which shall be deemed an original, but which together shall constitute a single agreement. 9. Governing Law. This Agreement shall be governed by, construed and interpreted in accordance with the laws of the State of California. 10. Severability. If any part of this Agreement is held to be illegal or unenforceable by a court of competent jurisdiction, the remainder of this Agreement shall be given effect to the fullest extent reasonably possible. 11. Succession and Assigns. This Agreement shall be binding upon and inure to the benefit of the successors and assigns of the parties hereto. 12. Qn of Agreement. The parties hereto acknowledge that they W, represented by counsel in the negotiation and preparation of this Agreement, and such counsel have participated in the drafting of this Agreement. 13. Effective Date. This Agreement is effective upon its acceptance by the Board of Supervisors of the County and the City Council of the City and its execution by their respective authorized representatives. IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first written above. COUNTY OF LOS ANGELES, CALIFORNIA By: Title: 1. ATTEST: Clerk of the Board of Supervisors APPROVED AS TO FORM: DEWTTT CLINTON, COUNTY COUNSEL By: ISMA -4- 0 CITY OF SANTA CLARTTA, CALIFORNIA ATTEST: City Cleric APPROVED AS TO FORM: CARL K. NEWTON, CITY ATTORNEY uw.4 -5-