HomeMy WebLinkAboutRESOLUTIONS - 01012004 - 2004-259 RESOLUTION NO. 2op4mg
A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE
COUNTY OF CONTRA COSTA MAKING FINDINGS WITH
RESPECT TO AND APPROVING THE ISSUANCE OF BONDS BY
THE ABAG FINANCING AUTHORITY FOR NONPROFIT
CORPORATIONS—WINDEMERE RANCH
WHEREAS, the owners of land in Phases 11 through V of the Windemere Ranch
development (collectively, the "Property Owners") have requested that the ABAG Financing
Authority For Nonprofit Corporations (the "Authority„) consider the establishment of a
community facilities district (a "CFD") under the Mello-Roos Community Facilities Act of 1982,
as amended (the "Act") and the issuance of bonds (the "Bonds") by the CFD to finance various
public infrastructure improvements (the "Improvements") necessitated by development
occurring in the Windemere Ranch area; and
WHEREAS, the County of Contra Costa (the "County„) is a member of the Authority;
and
WHEREAS, the Authority's "Guidelines for Issuance" require, in effect, that the member
of the Authority is whose jurisdiction the Development is located adopt a resolution approving
the financing of the Improvements by a CFD created and governed by the Board of Directors of
the Authority, prior to final consideration of the financing by the Authority; and Section
6586.5(a)(2) of the California Government Code (the "Code") requires, in effect, that a local
agency within whose boundaries the Improvements are to be located approve the financing and
make a finding of significant public benefit after a public hearing held by the Board of
Supervisors of the County; and
WHEREAS, the proposed financing has been reviewed by the County's Debt Advisory
Committee under the County's Financing Policies for Community Facilities Districts (the
"Policies"), and the financing is consistent with the requirements of Section VII.B. of the
Policies; and
WHEREAS, the Board of Supervisors of the County (the "Board") has on this date held
a duly noticed public hearing on the financing of the Improvements with the proceeds of the
Bonds, as required by the Code; and
WHEREAS, the Board now desires to mare a finding of significant public benefit
pursuant to Section 6586.5(a) of the Code, and to approve the financing of the Improvements
by a CFD governed by the Board of Directors of the Authority in order to satisfy the Guidelines
for Issuance of the Authority and the requirements of the Code, and so that the financing of the
Improvements can be completed; and
WHEREAS, the County will have no obligation whatsoever with respect to the formation
or administration.of the CFD, or the issuance or repayment of the Bonds.
NOW, THEREFORE, BE IT RESOLVED by the Board of Supervisors of the County of
Contra Costa as follows:
Section 1. Findings and Determinations. The Board of Supervisors hereby finds that
significant public benefits will arise from the financing of the Improvements with the proceeds of
the Bonds, in accordance with Section 6586 of the Code.
Section 2. Approval of Financing. The Board of Supervisors hereby approves the
establishment of a CFD by the Board of directors of the Authority, the issuance of the Bonds by
the Authority for the CFD, and the financing of the Improvements with the proceeds of the
Bonds.
Section 3. Acknowledgement of Land Use Approvals. The County hereby certifies to
the Authority that any land use approvals necessary for development in the CFD to occur and
the installation of any CFD financed facilities, have been granted (other than design approvals,
building permits and other similar approvals, as to which no certification is hereby made),
subject to and as more fully described in the Memorandum of Understanding Between Contra
Costa County, the City of San Ramon, Shaped Industries and Windemere Ranch Partners
Relating to Development of Dougherty Valley, dated October 15, 1997,
Section 4. Effective Date. This Resolution shall take effect from and after the date of
its passage and adoption.
PASSED, APPROVED AND ADOPTED, by the Board of Supervisors of the County of
Contra Costa at a meeting held on the 18th day of ma
y , 2004.
s.
Com, Board of Supervisors of the
County of Contra Costa
ATTEST: May 18, 2004
County Administrator and
Clerk of the Board of Supervisors
By: # €r
Deputy Clerk
01009.22:J7418
4/30/04
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