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HomeMy WebLinkAboutCC RES 94-101�� - � � � RESOLUTION NO. 94-101 RESOLUTION OF � CTTY COUNCIL OF � C1TY OF PALM DESERT, CALIFORNU, APPOINTING AND DESIGNATING ASSESSMENT ENGINEER, BOND COUNSEL, APPRAISER AND UNDERWRITER WITH RESPECr TO THE FORMATION OF AND TI� ISSUANCE AND SALE OF BONDS FOR PROPOSED ASSESSMENT DIST'RIGT NO. 942 (SUNTERRACE), AND APPROVING AND AiJTHORIZING EXECUTION OF AGREEMENT REGARDING FORMATION UF SAID ASSFSSMENT DISTRIGT WHEREAS, the City of Palm Desert (the "City") has received a petition from Robert B. Varner, the owner and developer of the residential development known as "Sunterrace" located within the City requesting that the Ciry Council of the City (the "City Council") initiate and conduct proceedings for the formadon of an assessment district pursuant to the Municipal Improvement Act of 1913, Division 12 of the Streets and Highways Code, and the issuance and sale of bonds for the proposed assessment district pursuant to the Improvement Bond Act of 1915, Division 10 of the Streets and Highways Code, for the purpose of financing the acquisition and constivction of certain public improvements within and for the benefit of said residential development and the proposed assessment district; and WHEREAS, the City Council has determined that it will initiate and conduct such proceedings as requested by Robert B. Varner; and WHEREAS, it is necessary that the City Council designate and appoint an assessment engineer to prepare a report pursuant to Sections 10203 and 10204 of the Streets and Highways Code, bond counsel to prepare and supervise the proceedings with respect to the formation of the proposed assessment district and the issuance and sale of bonds to finance the acquisition and construction of the proposed public improvements, an appraiser to make an appraisal of the market value of property within the proposed assessment district, and an underwriter to underwrite and mazket the bonds to be issued for the proposed assessment district; NOW, THEREFORE, the City Cauncil of the City of Palm Desert, �California, DOES HEREBY RFSOLVE as follows: 1. The City Council hereby appoints and retains Advanced Engineering Group, Inc. as Assessment Engineer to prepare the report containing, among other matters, the assessment diagram and assessment roll for the proposed assessment district, pursuant to the agreement proposed by said firm which has been presented to the Ci:y Counci! at the meeting at which this resolution is adopted, and the Assistant City Manager is authorized to sign said agreement on behalf of the City. 2. The City Council hereby appoints and retains Best, Best & Krieger as bond counsel for purposes of the proceedings for the formation of the proposed assessment RESOLUTION NO. 94-10' district and the issuance and sale of the bonds therefor pursuant to the letter proposal of said firm submitted to the City Council at the meeting at which this resolution is adopted, and the Assistant City Manager is authorized to sign said proposed letter on behalf of the City. 3. T6e City Council hereby appoints and retains Joseph Miner and Dorfner & Associates as appraiser to conduct an appraisal and render a report with respect to the value of property within the proposed assessment district pursuant to the letter proposal of such �irm submitted to the City Council at the meeting at which this resolution is adopted, and the Assistant City Manager is authorized to sign said proposed letter on behalf of the City. 4. The City Council hereby appoints Stone & Youngberg as underwriter of the bonds to be issued and sold for the proposed assessment distric�t. The terms and conditions upoa which such firm will purchase and mazket the bonds to be issued and sold for the proposed assessment district shall be set forth in a bond purchase agreement to be entered into between such firm and the City at the time of the issuance and sale of such bonds, which shall be presented to and approved by the City Council prior to the issuance and sale of such bonds. 5. The City Counci] hereby approves the agreement to be entered into by and between the City and Robert B. Varner, entided "Agreement Between the Ciry of Palm Desert and Robert B. Varner Regarding Formation of Assessment District," and the Mayor and the City Clerk are authorized to sign and attest said agreement on behalf of the City. PASSED, APPROVED AND ADOPTED this 22nd day of September, 1994, by the following vote, to wit: AYES: Benson, Snyder, Wilson NOES: None ,. ATTEST: `� l�_ � � •�� . '.�-.`-, Sheila Rc. illigan, ( '.� City of Desert BJS228569 -2- ABSENT: Crites, Kelly