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08-19-1991 - RegularMonday August, 19, 1991 ADJOURNED REGULAR MEETING OF THE WEST COVINA CITY COUNCIL A G E N D A 7:30 pm Council Chambers Agenda material is available in the City Clerk's Office for review, 1444 W. Garvey Avenue, West Covina. For sign language interpreter services at Council meetings, please call (818) 814-8433 (voice) or (818) 960-4422 (TTY) from 8 am to 5 pm Monday through Friday. Four working days notice is required. PLEDGE OF ALLEGIANCE ROLL CALL Jennings, Herfert, Manners, McFadden, Tarozzi I COMMUNITY FACILITIES DISTRICT NO. 91-1: SOUTH HILLS PARTNERSHIP The City Council will review the issues relative to proposed Community Facilities District 91-1 and consider the establishment of conditions and parameters for the conceptual approval of financing under the Mello -Roos Community Facilities District Act. Recommendation is to take the following action: Approve in concept a Community Facilities District for the South Hills Project subject to the parameters outlined in the staff reportcontingentupon developer compliance with the following conditions to the satisfaction of the Bond Counsel and Financial -Advisor: Offer -of Dedication. That the developer be required to submit an offer of dedication in a form acceptable to both the City Council and Bond Counsel and an indemnifi- cation agreement for the 42 lots within 2,000 foot radius of the landfill prior to issuance of bonds. Developer Financial Capability: That the developer submit a fully detailed financial plan for the project together with a verified financial statement both satisfactory to the Bond Counsel and Financial Advisor prior to conclusion of the hearing on the Resolution of Consideration or approval of any agreements. Adopt a Resolution of Consideration modifying the rate and method of apportionment, reducing the maximum special tax as outlined in the staff report and set October 1, 1991, as the date for the public hearing thereon: RESOLUTION NO. - A RESOLUTION OF CONSIDERATION OF THE CITY COUNCIL OF THE CITY OF WEST COVINA, CALIFORNIA, ACTING IN ITS CAPACITY AS THE LEGISLATIVE BODY OF COMMUNITY FACILITIES DISTRICT NO. 91-1 OF THE CITY OF WEST COVINA (SOUTH HILLS) TO ALTER THE EXISTING RATE AND METHOD OF APPORTIONMENT OF THE SPECIAL TAX WITHIN COMMUNITY FACILITIES DISTRICT NO. 91-1 OF Tlih: CITY OF WEST COVTNA (SOUTH HTLLS) ACTION: Motion by 2nd by to waive reading of the resolution and to I certify that copies of the Collncil Agenda for the meeting of /9 were posted in aocor :an s with the 1/87 Brown Act Aincn:_rncnts. adopt_ disapprove hold over Dated: Office of the City Cie- CITY COUNCIL AGENDA II ORAL COMMUNICATIONS ADJOURNMENT ACTION: Motion by 2nd by to adjourn the meeting at pm. August 19, 1991 Page 2 nwa;r ; .. bs: s`t