HomeMy WebLinkAboutRes 2021-261
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RESOLUTION NO. 2021-26
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM
DESERT, CALIFORNIA, APPROVING THE FORM OF A JOINT
COMMUNITY FACILITIES AGREEMENT BY AND AMONG THE CITY OF
PALM DESERT, THE COACHELLA VALLEY WATER DISTRICT, AND
UNIVERSITY PARK INVESTOR, LLC, PERTAINING TO THE CITY OF
PALM DESERT COMMUNITY FACILITIES DISTRICT NO. 2021-1
(UNIVERSITY PARK)
RECITALS:
WHEREAS, the City Council of the City of Palm Desert (the "City Council")
has initiated proceedings pursuant to the terms and provisions of the Mello -Roos
Community Facilities Act of 1982, being Chapter 2.5. Part 1, Division 2, Title 5 of the
Government Code of the State of California (the "Act") to create a community facilities
district designated as City of Palm Desert Community Facilities District No. 2021-1
(University Park) ("CFD 2021-1") for the purpose of providing for the financing of the
acquisition, purchase, construction, expansion, improvement, modification, or
rehabilitation of certain public facilities, including development impact fees therefor, and
to pay and defease a pro rata portion of outstanding Series 2006A Special Tax Bonds
issued by, and secured by the special taxes of, existing City of Palm Desert Community
Facilities District No. 2005-1 (University Park), and refinance the facilities previously
financed thereby; and
WHEREAS, the Coachella Valley Water District (the "Water District")
provides water and sewer service to the property within CFD 2021-1; and
WHEREAS, included among the public facilities proposed to be constructed
and/or acquired are certain water and sewer facilities necessary to meet the increased
demands placed upon public infrastructure and the Water District, including development
impact fees therefor, as a result of the development of the property within CFD 2021-1
and which will be owned, operated and maintained by the Water District: and
WHEREAS, the Act provides that CFD 2021-1 may finance facilities to be
owned or operated by an entity other than the City of Palm Desert (the "City") pursuant to
a joint community facilities agreement adopted pursuant to Section 53316.2 of the Act;
and
WHEREAS, Section 53316.2 of the Act provides that the City Council and
the Board of Directors of the Water District (the "Board of Directors") may enter into a joint
community facilities agreement at any time prior to the adoption by the City Council of a
resolution authorizing the issuance of bonds by CFD 2021-1 if each legislative body
adopts a resolution declaring that such joint community facilities agreement would be
beneficial to the residents of the respective public entity governed by such legislative
body; and
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RESOLUTION NO. 2021-26
WHEREAS, the form of a Joint Community Facilities Agreement by and
among the City, the Water District, and University Park Investor, LLC, a Delaware limited
liability company (the "JCFA"), has been presented to this City Council for its
consideration;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PALM
DESERT DOES HEREBY RESOLVE, FIND, DECLARE AND ORDER AS FOLLOWS:
Section 1. Recitals. The above recitals are all true and correct.
Section 2. Declaration. The City Council hereby declares that the JCFA
would be beneficial to the residents of the City.
Section 3. Approval of JCFA. The form of JCFA as presented to this City
Council and on file with the City Clerk is hereby approved. Each of the Mayor, the Mayor
Pro Tem (in the Mayor's absence), the City Manager, the Assistant City Manager (in the
City Manager's absence), and any deputy of such officers (each, an "Authorized Officer"),
acting singly, is hereby authorized and directed, for and in the name and on behalf of the
City, to execute and deliver the JCFA substantially in the form on file with the City Clerk
and presented to this meeting, with such additions thereto or changes or insertions therein
as the Authorized Officer executing the same may approve in consultation with the City's
Bond Counsel (such approval to be conclusively evidenced by such Authorized Officer's
execution and delivery thereof).
Section 4. Effective Date. This Resolution shall take effect immediately
upon adoption.
PASSED, APPROVED and ADOPTED by the City Council of the City of
Palm Desert, California, on this 27th day of May, 2021, by the following vote, to wit:
AYES: HARNIK, JONATHAN, NESTANDE, QUINTANILLA, and KELLY
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE
KATHLEEN ‘KELLY, AAAY
ATTEST:
M. 6LORIA�ANC4IEZ, ACii CITY CLERK
CITY OF P M DESERT, C IFORNIA
W:\Staff Reports - Shared 2\Staff Reports 05-27-202114 - City Clerk - 05-27-2021113 Res 2021-26 & Ord 1365 - University Park - JCFA and Ord
Adoption\02 City Resolution Approving CVWD JCFA (Palm Desert CFD 2021-1 Unry Park) 527.21.docx
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