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RESOLUTION NO. _____
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
FONTANA AUTHORIZING THE EXECUTION AND
DELIVERY OF A FIRST AMENDMENT TO ACQUISITION
AND FUNDING AGREEMENT
WHEREAS, City of Fontana Community Facilities District No. 111 (Monterado) (the “Community Facilities District”) has been established under the provisions of the Mello -Roos Community Facilities Act of 1982;
WHEREAS, Lennar Homes of California, LLC , a California limited liability company (the “Developer”) is the owner of the property within the Community Facilities District; WHEREAS, the Community Facilities District, the City of Fontana (the “City”) and the Developer previously entered into the Acquisition and Fund ing Agreement, dated as of September 1, 2022 (the “Original Acquisition Agreement”), pursuant to which, in accordance with the terms set forth therein, the Developer is to construct or cause to be constructed certain public facilities (the “Acquisition Facilities”) that, upon satisfaction of the conditions specified therein, the City is to acquire and take title to , and the Developer is to be paid the purchase price of, determined as set forth therein;
WHEREAS, pursuant to the Original Acquisition Agreement, such purchase price with respect to each segment of the Acquisition Facilities is to be paid from the proceeds of the special tax or bonds of the Community Facilities District;
WHEREAS, the Original Acquisition Agreement provides that the Original Acquisition Agreement may be amended by an instrument in writing executed and delivered by the Community Facilities District, the City and the Developer; and
WHEREAS, the City and the Developer desire to enter into an amendment to the Original Acquisition Agreement in order to amend the Acquisition Cost (as defined in the Original Acquisition Agreement) of certain of the segments of the Acquisition Facilities set forth in the Original Acquisition Agreement;
WHEREAS, in order to provide for such amendment of the Original Acquisition Agreement, there has been prepared and presented to this me eting a form of First Amendment to Acquisition and Funding Agreement , by and among the Community Facilities District, the City and the Developer (such First Amendment to Acquisition and Funding Agreement , in the form presented to this meeting, with such changes, insertions and omissions as are made pursuant to this Resolution, being referred to herein as the “First Amendment”); and WHEREAS, the City Council is the legislative body of the Community Facilities District; NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Fontana as follows:
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Section 1. The First Amendment, in substantially the form submitted to this meeting and made a part hereof as though set forth herein, be and the same is hereby approved. Each of the Mayor of the City, and suc h other member of the City Council as the Mayor may designate, the City Manager of the City , the Chief Financial Officer, Finance Department of the City , and such other officer or employee of the City as the City Manager may designate (the “Authorized Officers”) is hereby authorized, and any one of the Authorized Officers is hereby directed, for and in the name of the Community Facilities District, to exec ute and deliver the First Amendment in the form submitted to this meeting, with such changes, insertions and omissions as the Authorized Officer executing the same may require or approve, such requirement or approval to be conclusively evidenced by the execution of the First Amendment by such Authorized Officer.
Each of the Authorized Officers is hereby authorized, and any one of the Authorized Officers is hereby directed, for and in the name of the City, to execute and deliver the First Amendment in the form submitted to this meeting, with such changes, insertions and omissions as the Authorized Officer executing the same may require or approve, such requirement or approval to be conclusively evidenced by the execution of the First Amendment by such Authorized Officer.
Section 2. All actions heretofore taken by the officers, employees and agents of the City with respect to the First Amendment, or in connection with or related to any of the matters referred to herein, are hereby approved, confirmed and ratified.
Section 3. The officers, employees and agents of the City are hereby authorized and directed to take all actions and do all things which they, or any of them, may deem necessary or desirable to accomplish the purposes of this Resolution and not inconsistent with the pro visions hereof.
Section 4. This Resolution shall take effect immediately upon its adoption.
APPROVED and ADOPTED this 25th day of June, 2024.
READ AND APPROVED AS TO LEGAL FORM:
City Attorney
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I, Germaine Key, City Clerk of the City of Fontana, California, and Ex -Officio Clerk of the City Council, do hereby certify that the foregoing Resolution is the actual Resolution duly and regularly adopted by the City Cou ncil of said City at a regular meeting thereof, held on June 25, 2024, by the following vote to-wit:
AYES:
NOES:
ABSENT:
City Clerk
Mayor
ATTEST:
City Clerk