HomeMy WebLinkAboutCC RES 91-135 RESOLUTION N0. 91- 135
A RESOlUTION OF THE CITY COUNCIL OF THE C[TY
OF PAIM DESERT APPROVING PAYMENT BY THE PALM
DESERT REDEVELOPMENT AGENCY FOR THE VALUE OF
THE LAND FOR ANO TNE COST OF THE INSTALLATION
AND CONSTRUCTiON OF A BRIDGE AND DECIARING
ITS INTENTION TO CAUSE TO BE REIMBURSED FROM
THE PROCEEDS Of TAX-EXEMPT BONDS MONEYS OF
THE C1TY TO 8E EXPENDED [N ADVANCE FOR SUCH
PURPOSE
THE CITY COUNCIL OF THE C [ TY OF PALM DESERT HEREBY
FINDS , DETERMINES , RESOIVES AND OROERS AS FOLLOWS :
Section 1 . The City and the Peim Desert Redevelopment
Agency lntend to cooperate end cause to be installed and
constructed a bridge over the Whltewater Channel at Cook Street .
Such installation end const�uctio� ts being undertaken pursuant
to, among other things , the Redevelopment Pian for ProJect Area
No. 3 of the Agency. Pursuant to prior understanding and budget
cons i derat i ons of the C i ty end the Agency . the cost of the
necessary rights-of-Way and the i�stallation and construction of
such bridge have been allocated to the Agency. No moneys of the
CitY or the Agency are , or are reasonably expected to be ,
available on a long-term basis under the respective budgets of
the City or the Agency to pay for such costs.
Section 2 . The City expects that the Agency Nill
issue , or ceuse to be issued, tax-exempt bonds secured by end
payable from taxes allocated to the Agency from ProJect Area No.
3 , and the proceeds of such bonds Nill be used to pay for the
costs related to such bridge . The City expects that it will
advance and thereby incur certain costs in connection with the
necessary rights-of-Nay and the installation and construction of
the bridge prior to the issuance of such bonds . The costs of the
necessary rights-of-�ay and the installation and construction of
the br i dge w i 1 1 be pa i d from moneys on hand 1 n the Year 2000
Capital ProJect Fund (Fund 400) of the City' s General Fund.
Section 3 . The Ctty hereby declares its lntention to
ceuse to be reimbursed the Year 2000 Capital ProJect Fund (Fund
400 ) of the City' s General Fund the cost of the installation and
construction of such bridge by the Agency. The Ctty tntends that
such retmbursement be made from the proceeds of tax-exempt bonds
to be issued or caused to be issued by the Agency and peyable
from taxes allocated to the Agency from its Pro,�ect Area No. 3 .
Section 4. The installatio� and construction of such
bridge w111 improve traffic circuiation and flood control , all
for the benef i t of the hea l th , safety , end Ne i fere of the
residents of, visitors to end taxpayers in ProJect Area No. 3 .
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RESOLUTION N0. 91- 135
Sect i on 5 . The tota 1 cost of the acqu i s i t i on of
necessary � ights-of-way end the installation and construction of
such bridge is estimated to be ;3 , 000, 000 . The total budget of
the City for public works capital improvements 1n the nature of
the bridge is �0 , and other budget constraints of the Ctty
preclude the City from financing the cost of the tnstallation and
construction of such bridge . Because of the extraordinary
majority voter approval requirements , the City is unable as a
practical matter to fi �ance public works capital improvements
such as the bridge with general obligation bonds . Specfal
assessments to pay for the cost of such bridge Nould be
inappropriate because of its general , rather than special ,
benefits .
Section 6 . The City Council hereby finds and
dete�m i nes ( i ) that such br ldge i s of benef it to ProJect Area
No. 3 of the Agency, and tii ) that no other reasonable means of
financing the acquisitlon of necessary rlghts-of-way and the
installation and construction of the bridge is availebie to the
City.
5ection 7 . The C (ty Council hereby approves payment
fo� all or part of the value of the land for and the cost of the
installation and construction of such bridge by the Agency. The
Retmbursement Agreement ettached hereto as Exhibit A is hereby `
approved and the Mayor and C ity C 1 erk are hereby euthor i zed to
executive the Reimbursement Agreement for and in the name and on
behalf of the City.
PASSED, APPROVED ANO ADOPTED this 12th dey of December,
1991 .
AYES : BENSON, CRITES, SNYDER WILSON, KELLY
NOES : NONE
ABSENT : � NONE
ABSTAIN : NONE C`
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; � RI HARD S. KEL Y , MAYOR
ATTEST: � '��
, ; , ..
.�� ��: ,�� L.��� f,._
SHEILA R. GILL GAN, CIT. CLERK
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