HomeMy WebLinkAbout20818 - RESOLUTIONS - 1/21/2004 RESOLUTION NO. 2081.8
OF THE CITY COUNCIL OF THE CITY 'OF PALM
SPRINGS, CALIFORNIA, APPROVING AND
AUTHORIZING EXECUTION OF AN ACQUISITION AND
FUNDING AGREEMENT BY AND BETWEEN THE CITY
OF PALM SPRINGS AND MOUNTAIN GATE PALM
SPRINGS VENTURES, LLC, AS DEVELOPER OF
PROPERTY WITHIN ASSESSMENT DISTRICT NO. 161
OF SAID CITY; AND MAKING FINDINGS AND
DETERMINATIONS THEREWITH. A04824
WHEREAS, the City of Palm Springs has taken proceedings pursuant to the Municipal
Improvement Act of 1913, Division 12 of the Streets and Highways Code, for the
formation of Assessment District No. 16 1'(Mountain Gate) and for the issuance of bonds
pursuant to the Improvement Bond Act of 1915, Division 10 of the Streets and Highways
Code; and
WHEREAS, the developer of property within said Assessment District 161 is Mountain
Gate Palm Springs Ventures, LLC, a California limited liability company ("Developer');
and
WHEREAS, Developer is installing some or all of the public improvements set forth in
the report of the Engineer and filed with the City in accordance with the requirements of
said Municipal Improvement Act of 1913; and
WHEREAS, the Developer has requested that an Acquisition and Funding Agreement
pursuant to the provisions of Section 10100.7 of the Streets and Highways Code be
entered into as a means for said developer recovering costs advanced for such public
improvements installed by said developer and which upon completion are to be turned
over to the City and to other public agencies for operation and maintenance; and
WHEREAS, the City has caused the current Acquisition and Funding Agreement on file
in the Office of the City Clerk, to be prepared; and
WHEREAS, it is in the best interests of the City and said Assessment District No. 161
that said Agreement be approved and entered into as set forth hereinbelow;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PALM SPRINGS,
CALIFORNIA, DOES_ HEREBY FIND, RESOLVE, DETERMINE AND ORDER AS
FOLLOWS:
Section 1. That the recitals set forth hereinabove are true and correct in all respects.
Section 2. That said Acquisition and Funding Agreement be and the same is hereby
approved.
Section 3. That the City Manager is hereby authorized and directed to execute same '
on behalf of the City with such execution attested by the City Clerk.
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Resolution 20818
Page 2 '
Section 4. That upon execution a signed copy is to be delivered to the developer
and a signed copy is to be retained by the City Clerk in the Official
Records of the City.
ADOPTED this 21st day of January 2004.
AYES: Members .Foat, McCulloch, Mills, Poughet, and Mayor Oden
NOES: None
ABSENT: None
ATTEST: CITY OF PALM SPRINGS, CALIFORNIA
CB
City Clerk City Manager
REVIEWED &APPROVED AS TO FORM
City Attorney
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