City Council

18. AUTHORIZATION TO PARTICIPATE IN THE CALIFORNIA MUNICIPAL FINANCE AUTHORITY’S BOND OPPORTUNITIES FOR LAND DEVELOPMENT PROGRAM FOR COMMUNITY FACILITIES DISTRICT FORMATION A request that the City Council authorize participation in the California Municipal Finance Authority’s Community Facility District Bond Opportunities for Land Development program, which enables land developers to finance public improvements and/or pay development impact fees from the issuance of tax-exempt bonds. Recommendation: Staff recommends that the City Council: 1. Adopt Resolution 25-44, authorizing participation in the California Municipal Finance Authority's (CMFA) Bond Opportunities for Land Development (BOLD) program, which allows the California Municipal Finance Authority to accept applications, conduct proceedings, and levy special taxes within the City of Tustin, pursuant to the Mello-Roos Community Facilities Act of 1982. 2. Authorize the City Manager and/or Finance Director, or their designee(s), to negotiate, execute, and deliver acquisition, reimbursement, or joint community facilities agreements required in connection with any BOLD Community Facilities District formed pursuant to Resolution 25-44. RESOLUTION NO. 25-44 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF TUSTIN, CALIFORNIA, AUTHORIZING USE OF THE BOND OPPORTUNITIES FOR LAND DEVELOPMENT PROGRAM AND AUTHORIZING THE CALIFORNIA MUNICIPAL FINANCE AUTHORITY TO ACCEPT APPLICATIONS FROM PROPERTY OWNERS, CONDUCT PROCEEDINGS AND LEVY SPECIAL TAXES WITHIN THE CITY OF TUSTIN PURSUANT TO THE MELLO-ROOS COMMUNITY FACILITIES ACT OF 1982, AS AMENDED; AND AUTHORIZING RELATED ACTIONS Agenda Report OTHER BUSINESS/CITY MANAGER AND CITY ATTORNEY MAYOR, MAYOR PRO TEM AND COUNCIL MEMBER COMMENTS AND REPORTS