HomeMy WebLinkAboutCC RES 14-23RESOLUTION NO. 14 -23
' A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
TUSTIN, CALIFORNIA, APPOINTING CERTAIN PARTIES
TO ASSIST THE CITY OF TUSTIN WITH THE PROPOSED
FORMATION OF THE CITY OF TUSTIN COMMUNITY
FACILITIES DISTRICT NO. 2014 -1 (TUSTIN
LEGACY /STANDARD PACIFIC) AND PROPOSED
FUTURE BOND SALE THEREBY
The City Council of the City of Tustin does hereby resolve as follows:
WHEREAS, the City of Tustin, California (the "City) is the fee title owner of
100% of the real property (the 'Property ") described in Attachment 2 to that certain
Development Disposition Agreement (the "DDA "), by and between the City and
Standard Pacific Corp., a Delaware corporation ( "Standard Pacific "); and
WHEREAS, pursuant to the terms and conditions set forth in the DDA, the City
intends to convey the Property to Standard Pacific which will develop the Property as
set forth therein; and
' WHEREAS, the DDA provides for the establishment of a community facilities
district and bond sale thereby to provide for financing of certain facilities and services
described therein; and
WHEREAS, pursuant to Section 53318(a) of the Mello -Roos Community
Facilities Act of 1982, as amended, commencing with Section 53311 of the Government
Code (the "Act "), the City Council of the City (the "City Council ") has received a written
request from two of its City Councilpersons to commence proceedings to form a
community facilities district with boundaries coterminous with the Property to be known
as the "City of Tustin Community Facilities District No. 2014 -1 (Tustin Legacy /Standard
Pacific)" (the "Community Facilities District'); and
WHEREAS, the City desires to retain the firm of Fieldman, Rolapp & Associates,
Inc. (the "Financial Advisor') to assist in the formation of the Community Facilities
District and future bond sale thereby as Financial Advisor; and
WHEREAS, the City desires to retain the firm of Stradling Yocca Carlson &
Rauth, a Professional Corporation ('Bond Counsel'), to assist in the formation of the
Community Facilities District and future bond sale thereby as Bond Counsel; and
WHEREAS, the City desires to retain the firm of Albert A. Webb Associates to
act as Special Tax Consultant for the formation of the Community Facilities District and
future bond sale thereby; and
Resolution No. 14 -23
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WHEREAS, the City desires to retain the firm of Empire Economics, Inc.
( "Empire Economics ") to provide a market absorption study and price point information
for the formation of the Community Facilities District and future bond sale thereby; and
WHEREAS, the City desires to retain the firm of Harris Realty Appraisal ( "Harris
Realty ") to provide an appraisal report for the Community Facilities District in
preparation for a bond sale by the Community Facilities District; and
WHEREAS, the City desires to retain the firm of Quint & Thimmig LLP
( "Disclosure Counsel "), to act as Disclosure Counsel with respect to the future bond
sale by the Community Facilities District; and
WHEREAS, the City desires to retain the firm of Stifel, Nicolaus & Company,
Incorporated ( "Underwriter'), to act as Underwriter with respect to the future bond sale
by the Community Facilities District.
NOW, THEREFORE, it is hereby ORDERED and DETERMINED by the City
Council of the City of Tustin that:
SECTION 1: Each of the above recitals is true and correct.
SECTION 2: To assist with the potential formation and bond sale of the
Community Facilities District, Stradling Yocca Carlson & Rauth, a Professional
Corporation, is hereby appointed as Bond Counsel to the City, Fieldman, Rolapp &
Associates, Inc., is hereby appointed as Financial Advisor to the City, Albert A. Webb
Associates is hereby appointed as Special Tax Consultant to the City, Empire
Economics is hereby appointed as Market Absorption Consultant to the City, Harris
Realty is hereby appointed as Appraiser to the City, Quint & Thimmig LLP is hereby
appointed as Disclosure Counsel to the City, and Stifel, Nicolaus & Company,
Incorporated is hereby appointed as Underwriter for the future bond sale by the
Community Facilities District. The Mayor, City Manager and City Treasurer, or their
designees, are authorized to provide for all services necessary to effect the formation of
the Community Facilities District, including Financial Advisor services, Bond Counsel
services, Special Tax Consultant services, Market Absorption Consultant services, Real
Estate Appraiser services, Disclosure Counsel services, Underwriter services and any
other services deemed appropriate by the City Manager or his designee.
PASSED AND ADOPTED at a regular meeting of the City Council of the City of
Tustin held on the 18`" day of March 2014.
�LAt,vw/
ELWYN A. MURRAY, I
Mayor
Resolution No. 14 -23
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' ATTEST:
JEFF .PARKER,
City I r
n
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) SS
CITY OF TUSTIN )
I, Jeffrey C. Parker, City Clerk and ex- officio Clerk of the City Council of the City of
Tustin, California, do hereby certify that the whole number of the members of the City
Council is five; that the above and foregoing Resolution No. 14 -23 was duly passed and
adopted at a regular meeting of the City Council, held on the 18`" day of March 2014 by
the following vote:
COUNCILPERSONS AYES: Murray. Puckett, Nielsen, Gomez, Bernstein (5)
COUNCILPERSONS NOES: None (0)
COUNCILPERSONS ABSTAINED: None (0)
COUNCILPERSONS ABSENT: None (0)
Resolution No. 14 -23
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