HomeMy WebLinkAbout95-43 - Special Improvement District 95-1 CIOSA•
RESOLUTION NO. 95 -43
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
NEWPORT BEACH ACKNOWLEDGING RECEIPT OF A
PETITION TO FORMA SPECIAL IMPROVEMENT DISTRICT
AND AUTHORIZING AND DIRECTING ACTIONS WITH
RESPECT THERETO
WHEREAS, The Irvine Company (the "Company ") has submitted to the City of Newport
Beach (the "City ") a Petition to Create a Special Improvement District (Including Waiver) (the
"Petition ") requesting that the City Council of the City (the "City Council ") conduct proceedings
under the City of Newport Beach Special Improvement District Financing Code (the "Code ") to
create a special improvement district to be designated "City of Newport Beach Special
Improvement District No. 95 -1 (CIOSA)" (the "District "); and
WHEREAS, the City Council desires to accept the Petition, employ certain consultants
necessary for the formation of the District and the sale of bonds of the City for the District
and authorize and direct City staff to take actions necessary to present to the City Council for
approval the documents necessary to form the District and issue bonds of the City for the
District;
Now, THEREFORE, BE IT RESOLVED by the City Council of the City of Newport Beach as
follows:
Section I. Receipt by the City of the Petition is hereby acknowledged.
Section 2. City staff is hereby authorized and directed to take all actions necessary or
advisable to present to the City Council for its review and approval all proceedings necessary to
create the District and issue bonds of the City therefor; provided, however, that the passage of
• this Resolution shall in no way obligate the City Council to form the District or issue bonds
of the City for the District.
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Section 3. The firm of Stone & Youngberg is hereby designated as underwriter for any
bonds of the City to be issued for the District.
Section 4. The firm of Government Finance Group is hereby designated to administer the
special tax for the District on behalf of the City, the firm of Jones Hall Hill & White, A
• Professional Law Corporation, is hereby designated as Bond Counsel to the City for the District,
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and the firm of Gary L. Vogt and Associates is hereby designated to appraise the property
subject to the special taxes to be levied within the District. The Finance Director is hereby
authorized and directed to execute agreements with said firms for their services in connection
with the District, in form and substance acceptable to the Finance Director .
Section 5. The officers and employees of the City are hereby authorized and directed to
take all actions and do all things which they, or any of them, may deem necessary or desirable
to accomplish the purposes of this Resolution and not inconsistent with the provisions hereof.
Section 6. This Resolution shall take effect immediately upon its adoption.
BE IT FURTHER RESOLVED by the City Council of the City of Newport Beach as
follows:
ADOPTED, this 8th day of May, 1995.
ATTEST:
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ch/ a Vpaitim.m
J
MAYOR
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