75B - PH TO ADOPT SCIP - Laserfiche WebLink

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H. Both the Authority and the City are "local agencies" under the Mello -Roos Act; and The Mello -Roos Act permits two or more local agencies to enter into a joint community facilities agreement to exercise any power authorized by the Mello -Roos Act; and J. The City desires to enter into such an agreement with the Authority to authorize the Authority to form CFDs from time to time within the territorial limits of the City to Fees payable by such property owners and Improvements; and K. There has been presented to this meeting a proposed form of Resolution of Intention to be adopted by the Authority in connection with assessment proceedings (the "ROI"), a copy of which is attached hereto as Exhibit A, and the territory within which assessments may be levied for SCIP (provided that each Participating Developer consents to such assessment) shall be coterminous with the City's official boundaries of record at the time of adoption of such ROI (the "Proposed Boundaries"), and reference is hereby made to such boundaries for the plat or map required to be included in this Resolution pursuant to Section 10104 of the Streets and Highways Code; and L. There has also been presented to this meeting a proposed form of Acquisition Agreement (the "Acquisition Agreement"), a copy of which is attached hereto as Exhibit B, to be approved as to form for use with respect to any Improvements to be constructed and installed by a Participating Developer and for which the Participating Developer requests acquisition financing through the Mello -Roos Act as part of its SCIP for CFDs application; and M. The City will not be responsible for the conduct of any proceedings; the levy or collection of assessments or special taxes or any required remedial action in the case of delinquencies in such assessment or special tax payments; or the issuance, sale or administration of the Local Obligations or any other bonds issued in connection with SCIP; and N. The Authority will issue revenue bonds pursuant to the Marks -Roos Local Bond Pooling Act of 1985 (the "Marks -Roos Act") to acquire the Local Obligations and thereby provide the proceeds to finance the Fees and Improvements; and O. Pursuant to Government Code Section 6586.5, notice was published at least five days prior to the adoption of this resolution at a public hearing, which was duly conducted by this City Council concerning the significant public Resolution No. 2020-XXX Page 3 of 10 75B-7