City Council

18.\nAUTHORIZATION TO PARTICIPATE IN THE CALIFORNIA MUNICIPAL\nFINANCE AUTHORITY’S BOND OPPORTUNITIES FOR LAND\nDEVELOPMENT PROGRAM FOR COMMUNITY FACILITIES DISTRICT\nFORMATION A request that the City Council authorize participation in the\nCalifornia Municipal Finance Authority’s Community Facility District Bond\nOpportunities for Land Development program, which enables land\ndevelopers to finance public improvements and/or pay development\nimpact fees from the issuance of tax-exempt bonds.\nRecommendation: Staff recommends that the City Council: 1. Adopt\nResolution 25-44, authorizing participation in the California Municipal\nFinance Authority's (CMFA) Bond Opportunities for Land Development\n(BOLD) program, which allows the California Municipal Finance Authority\nto accept applications, conduct proceedings, and levy special taxes within\nthe City of Tustin, pursuant to the Mello-Roos Community Facilities Act of\n1982. 2. Authorize the City Manager and/or Finance Director, or their\ndesignee(s), to negotiate, execute, and deliver acquisition,\nreimbursement, or joint community facilities agreements required in\nconnection with any BOLD Community Facilities District formed pursuant\nto Resolution 25-44. RESOLUTION NO. 25-44 RESOLUTION OF THE\nCITY COUNCIL OF THE CITY OF TUSTIN, CALIFORNIA,\nAUTHORIZING USE OF THE BOND OPPORTUNITIES FOR LAND\nDEVELOPMENT PROGRAM AND AUTHORIZING THE CALIFORNIA\nMUNICIPAL FINANCE AUTHORITY TO ACCEPT APPLICATIONS FROM\nPROPERTY OWNERS, CONDUCT PROCEEDINGS AND LEVY\nSPECIAL TAXES WITHIN THE CITY OF TUSTIN PURSUANT TO THE\nMELLO-ROOS COMMUNITY FACILITIES ACT OF 1982, AS AMENDED;\nAND AUTHORIZING RELATED ACTIONS\nAgenda Report\nOTHER BUSINESS/CITY MANAGER AND CITY ATTORNEY\nMAYOR, MAYOR PRO TEM AND COUNCIL MEMBER COMMENTS AND\nREPORTS