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HomeMy WebLinkAboutResolution 2019-062 First Amendment to District Development Financing Participation and IGA GFCFD2 Emergency RESOLUTION NO. 2019-062 A RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE TOWN OF MARANA, ARIZONA APPROVING AND AUTHORIZING THE EXECUTION AND DELIVERY OF A FIRST AMENDMENT TO DISTRICT DEVELOPMENT, FINANCING PARTICIPATION AND INTER- GOVERNMENTAL AGREEMENT (GLADDEN FARMS (PHASE II) COMMUNITY FACILITIES DISTRICT) AND DECLARING AN EMERGENCY BE IT RESOLVED BY THE MAYOR AND COMMON COUNCIL OF THE TOWN OF MARANA, ARIZONA, as follows: 1. Findings. a. On December 11, 2007, there was presented to the governing body of the Town of Marana, Arizona, an incorporated municipality of the State of Arizona (hereinafter called the "Municipality"), a Petition for Adoption of a Resolution Declaring Formation of Gladden Farms (Phase II) Community Facilities District, dated December 10, 2007 (hereinafter referred to as the "Petition") signed by the entities which, on the date thereof, were the owners of all real property as shown on the assessment roll for State and county taxes for Pima County, Arizona(hereinafter referred to as, the "Petitioners"), in Gladden Farms (Phase II) Community Facilities District (herein after called the "District"), the formation of which, among other things, was prayed for by the Petitioners in the Petition, pursuant to Title 48, Chapter 4, Article 6, Arizona Revised Statutes (hereinafter referred to as the "Act"). b. Pursuant to the Act and Section 9-500.05, Arizona Revised Statutes, in connection with the formation of the District, the Municipality, the District, FC/M Gladden II, LLC (hereinafter called "FC/M Gladden"), Forest City Enterprises, Inc. (hereinafter called "Forest City") and Marana EP Investors, LLC (hereinafter called "Marana EP") entered into a District Development, Financing Participation and Intergovernmental Agreement (Gladden Farms (Phase II) Community Facilities District), dated as of January 1, 2008 (hereinafter referred to as the "Development Agreement"), by and among the Municipality, the District, FC/M Gladden, Forest City and Marana EP to specify, among other things, conditions, terms, restrictions and requirements for "public infrastructure" (as such term is defined in the Act); the financing of public infrastructure and subsequent reimbursements or repayments over time and, with respect to the advance of moneys for public infrastructure 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 thereafter issued. c. Pursuant to the Act and Title 11, Chapter 7, Article 3, Arizona Revised Statutes, in connection with the formation of the District, the District and the Municipality entered 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 planning, design, inspection, ownership, control, maintenance, operation or repair of public infrastructure. 43388394.2 d. The Petition was granted, and, by Resolution No. 2007-221, adopted on December 11, 2007 (hereinafter referred to as the "2007 Resolution"), by the Mayor and Common Council of the Municipality, the District was formed as a district pursuant to the terms and provisions of, and with the powers and authority established by, the Act, subject to the restrictions and modifications set forth in the Petition, and as the Petition was signed by the owner of all the property in the District and there were not within fifty (50) days preceding the first anticipated election of the District, residents on such property, requirements of posting, publication, mailing, notices, hearing and election otherwise required by the Act with respect to formation of the District were found to be unnecessary. e. The Development Agreement was approved by the 2007 Resolution. f. Section 10.5 of the Development Agreement provides that the Development Agreement cannot be altered or otherwise amended except pursuant to an instrument in writing signed by each of the parties thereto; provided, however, that such an amendment shall be effective against the Municipality only if such amendment only amends Section 7.1 or 9.3 of the Development Agreement as it relates to the Municipality. g. The Mayor and Common Council of the Municipality have determined to enter into a First Amendment to the Development Agreement, to be dated as of the first day of the month of the dated date of the bonds issued to refund the Bonds described therein (hereinafter referred to as the "Development Agreement Amendment"), to provide for certain amendments to the Development Agreement with respect to Section 9.3 of the Development Agreement. h. There have been placed on file with the Town Clerk of the Municipality and presented to the Mayor and Common Council of the Municipality, in connection with the amendment of the Development Agreement, the proposed form of the Development Agreement. 2. Authorization and Approval of Development Agreement Amendment. The Development Agreement Amendment is hereby approved in substantially the form submitted herewith, with such changes, additions, deletions, insertions and omissions, if any, as the Mayor of the Municipality, with the advice of the Chief Financial Officer of the Municipality and the Town Attorney of the Municipality, shall authorize, the execution and delivery of the Development Agreement Amendment to be conclusive evidence of the propriety of such document and the authority of the persons or persons executing the same. The Mayor of the Municipality, with the advice of the Chief Financial Officer 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 Amendment on behalf of the Municipality. 3. No Liability of or for the Municipality. 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 Development Agreement nor for the payment or repayment of any indebtedness, liability, 2 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 subdivision of either (other than the District) shall be pledged therefor. 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. b. All resolutions or parts thereof inconsistent herewith are hereby waived to the extent only of such inconsistency. c. The 2007 Resolution is hereby ratified and confirmed in all respects from its date to the date hereof. 5. Emergency Clause. The immediate operation of the provisions 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 constitution and laws of the State of Arizona pursuant to Section 19-142(B), Arizona Revised Statutes and the Code of the Municipality. [Remainder of Page Intentionally Left Blank.] 3 PASSED by the Mayor and Council of the Town of Marana, Arizona, this 18th day of June, 2019. Mayor, Town of Marana, Arizona ATTEST: A %01440, Town Cler „ Town of Marana, Arizona APPROVE DS TO FORM: 14" To , Atto y own`of Mara , Arizona REVIEWED BY: Town Manager, Town of Marana, Arizona 4