HomeMy WebLinkAboutResolution 2013-057 financing participation and IGA for saguaro springs CFDMARANA RESOLUTION NO. 2013-057
RELATING TO DEVELOPMENT; APPROVING AND
AUTHORIZING THE EXECUTION AND DELIVERY OE A
DISTRICT DEVELOPMENT, FINANCING PARTICIPATION AND
INTERGOVERNMENTAL AGREEMENT (SAGUARO SPRINGS
COMMUNITY FACILITIES DISTRICT) AND DECLARING AN
EMERGENCY
BE IT RESOLVED BY THE MAYOR AND COMMON COUNCIL OF THE TOWN
OF MARANA, ARIZONA, as follows:
l. Findings.
a. Pursuant to Title 48, Chapter 4, ArtiCle 6,
Arizona Revised Statutes (hereinafter referred to as the "Act") and
Section 9-500.05, Arizona Revised Statutes, the Town of Marana,
Arizona, an incorporated municipality of the State of Arizona
(hereinafter called the "Municipality"), Saguaro Springs Community
Facilities District (hereinafter called the "District"), Marana 670
Holdings, LLC (hereinafter called "Holdings") and D.R. Horton, Inc.
(hereinafter called "Horton") are entering into a"development
agreement" to specify, among other things, conditions, terms,
restrictions and requirements for "public infrastructure" (as such
term is defined in the Act) and the financing of public infrastructure
and subsequent reimbursements or repayments over time.
b. With regard to the real property included within
the boundaries of the District, the Municipality and Holdings
determined to specify some of such matters in such an agreement,
particularly matters relating to the acquisition or construction of
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certain public infrastructure by the District, the acceptance thereof
by the Municipality and the reimbursement or repayment of Saguaro
Springs with respect thereto, all pursuant to the Act.
c. Pursuant to the Act and Title 11, Chapter 7,
Article 3, Arizona Revised Statutes, as amended, the District, and the
Municipality may enter into an "intergovernmental agreement" with one
another for joint or cooperative action for services and to jointly
exercise any powers common to them and for the purposes of the plan-
ning, design, inspection, ownership, control, maintenance, operation
or repair of public infrastructure.
d. Pursuant to the Act, the District may also enter
into an agreement with Holdings with respect to the advance of moneys
for public infrastructure purposes and the repayment of such advances
and to obtain credit enhancement for, and process disbursement and
investment of proceeds of, general obligation bonds of the District to
be hereafter issued.
e. There has been presented to us in connection with
the purposes hereof a District Development, Financing Participation
and Intergovernmental Agreement (Saguaro Springs Community Facilities
District), to be dated as of June 1, 2013 (hereinafter referred to as
the "Development Agreement"), by and among the Municipality, the
District, Holdings and Horton.
2. Authorization and Approval of Development Agreement.
The Development Agreement is hereby approved in substantially the form
submitted herewith, with such changes, additions, deletions, inser-
tions and omissions, if any, as the Mayor of the Municipality, with
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the advice of the Town Manager of the Municipality and the Town Attor-
ney of the Municipality, shall authorize, the execution and delivery
of the Development Agreement to be conclusive evidence of the propri-
ety of such document and the authority of the persons or persons
executing the same. The Mayor of the Municipality, with the advice of
the Town Manager of the Municipality and the Town Attorney of the
Municipality, is hereby authorized and directed to execute, and the
Town Clerk of the Municipality to attest and deliver, the Development
Agreement on behalf of the Municipality.
3. No Liabilitv of or for the Municipalitv. Neither the
Municipality nor the State of Arizona or any political subdivision of
either (other than the District) shall be directly, indirectly or
morally liable or obligated for the costs of the public infrastructure
contemplated by the General Plan and the Development Agreement nor for
the payment or repayment of any indebtedness, liability, cost, expense
or obligation of the District, and neither the credit nor the taxing
power of the Municipality, the State of Arizona or any political sub-
division of either (other than the District) shall be pledged there-
for .
4. Effect of Resolution
a. If any section, paragraph, clause or provision of
this Resolution shall for any reason be held to be invalid or
unenforceable, the invalidity or unenforceability of such section,
paragraph, clause or provision shall not affect any remaining
provisions of this Resolution.
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b. All resolutions or parts thereof inconsistent
herewith are hereby waived to the extent only of such inconsistency.
5. Emergency Clause. The immediate operation of the pro-
visions of this Resolution is necessary to the orderly development of
property within the Municipality and the resulting preservation of the
public peace, health and safety, an EMERGENCY is hereby declared to
exist. This Resolution shall be in full force and effect from and
after its passage, adoption and approval by us, as required by law,
and is hereby exempted from the referendum provision of the constitu-
tion and laws of the State of Arizona pursuant to Section 19-142(B),
Arizona Revised Statutes, as amended, and any applicable provision of
the Code or any ordinances of the Municipality.
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PASSED by the Mayor and Common Council of the Town of
Marana, Arizona, this 4th day of June, 2013.
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Mayor, Town of Marana, Arizona
ATTEST:
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wn Cl c, Town of Marana,
rizon
APPROVED AS TO FORM:
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Town Manager, Town of Marana,
Arizona
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330754671.1-5/13/2013
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REVIEWED BY: