HomeMy WebLinkAboutCC Reso 2017-03 RESOLUTION NO. 2017- 03
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CATHEDRAL
CITY APPROVING, AUTHORIZING, AND DIRECTING EXECUTION OF
A JOINT EXERCISE OF POWERS AGREEMENT RELATING TO THE
CALIFORNIA MUNICIPAL FINANCE AUTHORITY; CONSENTING TO
THE INCLUSION OF PROPERTIES WITHIN THE TERRITORY OF THE
CITY IN THE CALIFORNIA MUNICIPAL FINANCE AUTHORITY OPEN
PACE PROGRAMS; AUTHORIZING THE CALIFORNIA MUNICIPAL
FINANCE AUTHORITY TO ACCEPT APPLICATIONS FROM
PROPERTY OWNERS, CONDUCT CONTRACTUAL ASSESSMENT
PROCEEDINGS AND LEVY CONTRACTUAL ASSESSMENTS WITHIN
THE TERRITORY OF THE CITY; AND AUTHORIZING RELATED
ACTIONS
WHEREAS, the California Municipal Finance Authority (the "Authority") is a joint
exercise of powers authority, the members of which include numerous cities and
counties in the State of California (the "Members"), formed pursuant to a Joint Exercise
of Powers Agreement Relating to the California Municipal Finance Authority, dated as of
January 1, 2004 (the "Agreement") for the purpose of promoting economic, cultural and
community development and in order to exercise any powers common to its Members,
including the issuance of bonds, notes or other evidences of indebtedness; and
WHEREAS, the Authority offers Property Assessed Clean Energy (PACE)
programs, which it has designated CMFA Open PACE, consisting of CMFA Open PACE
programs each administered by a separate program administrator (collectively with any
successors, assigns, replacements or additions, the "CMFA Programs"), to allow the
financing or refinancing of renewable energy, energy efficiency, water efficiency and
seismic strengthening improvements, electric vehicle charging infrastructure and such
other improvements, infrastructure or other work as may be authorized by law from time
to time (collectively, the "Improvements") through the levy of contractual assessments
pursuant to Chapter 29 of Division 7 of the Streets & Highways Code ("Chapter 29")
within counties and cities throughout the State of California that consent to the inclusion
of properties within their respective territories in the Programs and the issuance of
bonds from time to time; and
WHEREAS, the program administrators currently active in administering CMFA
Programs are Energy Efficient Equity, Inc.; BlueFlame PACE Services LLC; OnPACE
Energy Solutions, LLC; and Structured Finance Associates, LLC; and the Authority will
notify the City in advance of any additions or changes; and
WHEREAS, City of Cathedral City (the "City") is a member of the Coachella
Valley Association of Governments ("CVAG"), also a joint powers authority;
WHEREAS, the City and other CVAG member jurisdictions have previously
entered into an Implementation Agreement authorizing CVAG to implement, manage
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and administer Regional PACE Programs within the jurisdictional boundaries of the
CVAG member jurisdictions;
WHEREAS, CVAG proposes to enter into one or more Administration
Agreements with program administrators currently active in the CMFA Programs to
provide Regional PACE Programs;
WHEREAS, Chapter 29 provides that assessments may be levied under its
provisions only with the free and willing consent of the owner or owners of each lot or
parcel on which an assessment is levied at the time the assessment is levied; and
WHEREAS, the City has determined that it is in the public interest and for the
public benefit that the City become a Member of the Authority so that property owners
within the City's territory may participate in any Regional PACE programs implemented
by CVAG pursuant to any Administration Agreements by and between CVAG and
CMFA program administrators;
WHEREAS, said participation by the City shall facilitate the promotion of
economic, cultural and community development activities in the City, including the
financing of projects therefor by the Authority; and
WHEREAS, there is now before this City Council the form of the Agreement for
becoming a Member of the Authority; and
WHEREAS, the Agreement has been filed with the City, and the members of the
City Council, with the assistance of its staff, have reviewed said document; and
WHEREAS, the City desires to allow the owners of property ("Participating
Property Owners") within its territory to participate in any of the Regional PACE
Programs for which CVAG has entered into an Administration Agreement with a CMFA
program administrator and to allow the Authority to conduct assessment proceedings
under Chapter 29 within its territory for any such Regional PACE Programs and to issue
bonds to finance or refinance Improvements consistent with the terms of the CVAG
Administration Agreements for the Regional PACE Programs; and
WHEREAS, the territory within which said assessments may be levied for the
Regional PACE Programs shall include all of the territory within the City's official
boundaries; and
WHEREAS, the Authority will conduct all assessment proceedings under
Chapter 29 for the Regional PACE Programs and issue any bonds issued in connection
with Regional PACE Programs; and
WHEREAS, the City will not be responsible for the conduct of any assessment
proceedings; the levy of assessments; any required remedial action in the case of
delinquencies in such assessment payments; or the issuance, sale, administration
repayment or guarantee of any bonds issued in connection with the Programs;
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NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Cathedral City as follows:
Section 1. This City Council hereby finds and declares that the foregoing
recitals are true and correct.
Section 2. The Agreement is hereby approved and the Mayor, City Manager,
or the designee thereof is hereby authorized and directed to execute said document,
and the City Clerk or such clerk's designee is hereby authorized and directed to attest
thereto.
Section 3. This City Council hereby finds and declares that properties in the
territory of the City will benefit from the availability of the Regional PACE Programs
within the territory of the City and, pursuant thereto, the conduct of special assessment
proceedings by the Authority pursuant to Chapter 29 and the issuance of bonds to
finance or refinance Improvements.
Section 4. In connection with the Regional Programs, the City hereby
consents to the conduct of special assessment proceedings by the Authority pursuant to
Chapter 29, and subject to the scope of the Regional PACE Program as defined in the
Administration Agreements, on any property within the territory of the City and the
issuance of bonds to finance or refinance Improvements; provided, that
(1) The Participating Property Owners, who shall be the legal owners
of such property, execute a contract pursuant to Chapter 29 and comply with
other applicable provisions of California law in order to accomplish the valid levy
of assessments; and
(2) The City will not be responsible for the conduct of any assessment
proceedings; the levy of assessments; any required remedial action in the case
of delinquencies in such assessment payments; or the issuance, sale,
administration, repayment or guarantee of any bonds issued in connection with
the Programs.
Section 5. The appropriate officials and staff of the City are hereby authorized
and directed to make applications for the Regional PACE Programs available to all
property owners who wish to finance or refinance Improvements; provided, that the
Authority shall be responsible for providing such applications and related materials at its
own expense. The following staff persons, together with any other staff persons chosen
by the Mayor or City Manager of the City from time to time, are hereby designated as
the contact persons for the Authority in connection with the Programs: Pat Milos,
Community Development Director or his designee.
Section 6. The appropriate officials and staff of the City are hereby authorized
and directed to execute and deliver such certificates, requisitions, agreements and
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related documents as are reasonably required by the Authority to implement the
Regional PACE Programs.
Section 7. The City Council hereby finds that adoption of this Resolution is not
a "project" under the California Environmental Quality Act, because the Resolution does
not involve any commitment to a specific project which may result in a potentially
significant physical impact on the environment, as contemplated by Title 14, California
Code of Regulations, Section 15378(b)(4)).
Section 8. This Resolution shall take effect immediately upon its adoption. The
City Clerk is hereby authorized and directed to transmit a certified copy of this resolution
to the Financial Advisor of the Authority at: California Municipal Finance Authority, 2111
Palomar Airport Road, Suite 320, Carlsbad, California 92011, Attn: Travis Cooper.
PASSED AND ADOPTED this 11th day of January, 2017by the following vote, to
wit:
AYES: Council Members Aguilar, Carnevale and Kaplan; Mayor Pro
Tem Pettis and Mayor Henry
NOES: None
ABSENT: None
ABSTAIN: None
-apv
Stanley E. -eenry, M-;r
ATTEST:
® J i
Gary . H•well,, ity Clerk
APPROVED AST ORM:
Eric S. Vail, City Attorney
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