HomeMy WebLinkAbout2002-10-08 - RESOLUTIONS - CFD TAX VALENCIA TOWN CENTER (2)CORRECTED RESOLUTION NO. CFD 92-1-17
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SANTA CLARITA, CALIFORNIA, ACTING AS THE
LEGISLATIVE BODY OF THE CITY OF SANTA CLARITA COMMUNITY
FACILITIES DISTRICT NO. 92-1 (VALENCIA TOWN CENTER),
AUTHORIZING THE EXECUTION AND DELIVERY OF AN
ESCROW DEPOSIT AND TRUST AGREEMENT
WHEREAS, the City Council (the "City Council") of the City of Santa Clarita (the
"City") has conducted proceedings under and pursuant to the Mello -Roos Community
Facilities Act of 1982, as amended (the "Act"), to form the City of Santa Clarita Community
Facilities District No. 2002-1 (Valencia Town Center) (the "CFD"), to authorize the levy of
special taxes upon the land within the CFD, and to issue bonds secured by said special
taxes, the proceeds of which are to be used to finance the optional redemption of the
outstanding principal amount of the City of Santa Clarita Community Facilities District
No. 92-1 (Valencia Town Center) Special Tax Bonds, Series A (the "1992 Bonds"), and the
extinguishment of the special tax lien associated with the City of Santa Clarita Community
Facilities District No. 92-1 (Valencia Town Center) (the "Existing CFD"), (collectively, the
"Project"); and
WHEREAS, the CFD intends to issue bonds designated "City of Santa Clarita
Community Facilities District No. 2002-1 (Valencia Town Center) Special Tax Bonds" (the
"Bonds"); and
WHEREAS, there has been submitted to this City Council an Escrow Deposit and
Trust Agreement (the Escrow Agreement") providing for the redemption of the 1992 Bonds
on November 15, 2002, and this City Council, with the aid of its staff, has reviewed said
agreement and found it to be in proper order; and
WHEREAS, all conditions, things and acts required to exist, to have happened and
to have been performed precedent to and in connection with the redemption of the 1992
Bonds as contemplated by this Resolution and the agreement referred to herein, exist, have
happened and have been performed in due time, form and manner as required by the laws
of the State of California, including the Act.
NOW, THEREFORE, the City Council of the City of Santa Clarita, acting as the
legislative body of the City of Santa Clarita Community Facilities District No. 92-1
(Valencia Town Center), does hereby resolve, determine and order as follows:
Section 1. Authorization. The Existing CFD hereby authorizes the redemption of
the outstanding 1992 Bonds on November 15, 2002 in accordance with the Escrow
Agreement.
Section 2. Approval of Escrow Agreement. The Existing CFD hereby approves the
Escrow Agreement in substantially the form presented to this City Council. The Mayor,
City Manager, Director of Administrative Services, or their written designee (each, a
Resolution No. CFD 02-1-8
Page 2
"Responsible Officer"), are hereby authorized to execute the Escrow Agreement in
substantially the form presented to this City Council, with such revisions, amendments and
completions as shall be approved by any Responsible Officer, with the advice of Bond
Counsel and the City Attorney, such approval to be conclusively evidenced by the execution
and delivery thereof by any Responsible Officer.
Section 3. Official Actions. The Mayor, City Manager, Director of Administrative
Services, the City Clerk and all other officers of the City are hereby authorized and
directed, for and in the name and on behalf of the City and the Existing CFD, to do any and
all things and take any and all other actions, including the execution and delivery of any
and all assignments, certificates, requisitions, agreements, notices, consents, instruments
of conveyance, warrants and other documents, which they, or any of them, deem necessary
or advisable in order to consummate the lawful redemption of the 1992 Bonds and the
consummation of the transactions as described herein.
Section 4. Effectiveness. This Resolution shall take effect immediately upon its
adoption.
PASSED, APPROVED AND ADOPTED this 8th day of October, 2002.
Mayor of the City of Sapfa Clarita,
on behalf of the Citv
of Santa
Clarita Community. Facilities
District No. 92-1 (Valencia Town
Center)
ATTEST:
City Clerk of the City of Santa Clarita,
on behalf of the City of Santa Clarita
Community Facilities District No. 92-1
(Valencia Town Center)
Resolution No. CFD 02-1-8
Page 3
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss.
CITY OF SANTA CLARITA )
I, Sharon L. Dawson, CMC, City Clerk of the City of Santa Clarita, do hereby certify
that the foregoing Resolution was duly adopted by the City Council of the City of Santa
Clarita, acting as the legislative body of the City of Santa Clarita Community Facilities
District No. 92-1 (Valencia Town Center) at a regular meeting thereof, held on the 8th day
of October, 2002, by the following vote:
AYES: COUNCILMEMBERS: Weste, McLean, Kellar, Smyth, Ferry
NOES: COUNCILMEMBERS: None
ABSENT: COUNCILMEMBERS: None
ABSTAIN: COUNCILMEMBERS: None
CITY CLERK
45227815.1