R10939Council Meeting; March 1, 2016 Santa Monica, California
RESOLUTION NUMBER 10 "( 2, ` (CCS)
(City Council Series)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA MONICA
CONSENTING TO THE INCLUSION OF PROPERTIES WITHIN THE TERRITORY OF
THE CITY IN THE CALIFORNIA MUNICIPAL FINANCE AUTHORITY PACE
PROGRAM; AUTHORIZING THE CALIFORNIA MUNICIPAL FINANCE AUTHORITY
TO ACCEPT APPLICATIONS FROM PROPERTY OWNERS, CONDUCT
CONTRACTUAL ASSESSMENT PROCEEDINGS AND LEVY CONTRACTUAL
ASSESSMENTS WITHIN THE TERRITORY OF THE CITY; AND AUTHORIZING
RELATED ACTIONS
WHEREAS, the California Municipal Finance Authority (the "CMFA Authority") is a
joint exercise of powers authority, the members of which include numerous cities and
counties in the State of California, including the City of Santa Monica (the "City); and
WHEREAS, the CMFA Authority has established its CMFA PACE Program (the
"CMFA PACE Program") through Energy Efficient Equity ("ET') to allow the financing or
refinancing of renewable energy, energy efficiency, water efficiency and seismic
strengthening improvements, electric vehicle charging infrastructure and such other
improvements, infrastructure or other work as may be authorized by law from time to time
(collectively, the "Authorized Improvements") through the levy of contractual assessments
pursuant to Chapter 29 of Division 'T of the Streets & Highways Code ("Chapter 29") within
counties and cities throughout the State of California that consent to the inclusion of
properties within their respective territories in the CMFA PACE Program and the issuance
of bonds from time to time; and
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WHEREAS, Chapter 29 provides that assessments may be levied under its
provisions only with the free and willing consent of the owner or owners of each lot or
parcel on which an assessment is levied at the time the assessment is levied; and
WHEREAS, the City desires to allow the owners of property ("Participating
Property Owners") within its territory to participate in City approved PACE Programs,
including the CMFA PACE Program and to allow the CMFA PACE Authority to conduct
assessment proceedings under Chapter 29 within its territory and to issue bonds to
finance or refinance Authorized Improvements; and
WHEREAS, the territory within which assessments may be levied for the City
approved PACE Programs shall include all of the territory within the City's official
boundaries; and
WHEREAS, the CMFA Authority will conduct all assessment proceedings under
Chapter 29 for its CMFA PACE Program and issue any bonds issued in connection with
its CMFA PACE Program; and
WHEREAS, the City will not be responsible for the conduct of any assessment
proceedings; the levy of assessments; any required remedial action in the case of
delinquencies in such assessment payments; or the issuance, sale, administration
repayment or guarantee of any bonds issued in connection with the CMFA PACE
Program.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA MONICA
DOES RESOLVE AS FOLLOWS:
SECTION 1. The recitals set forth hereinabove are true and correct in all
respects.
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SECTION 2. This City Council hereby finds and declares that properties in the
territory of the City will benefit from the availability of the CMFA PACE Program within the
territory of the City and, pursuant thereto, the conduct of special assessment proceedings
by the CMFA Authority pursuant to Chapter 29 and the issuance of bonds to finance or
refinance Authorized Improvements.
SECTION 3. The City consents to the inclusion of properties within the territory of
the City in the CMFA PACE Program, and authorizes the CMFA to accept applications
from property owners within the City for participation in the CMFA PACE Program.
SECTION 4. The City hereby consents to the conduct of special assessment
proceedings by the CMFA Authority pursuant to Chapter 29 on any property within the
territory of the City and the issuance of bonds to finance or refinance Authorized
Improvements in accordance with applicable laws, rules and regulations, provided, that
(1) The Participating Property Owners, who shall be the legal owners of such
property, execute a contract pursuant to Chapter 29 and comply with other
applicable provisions of California law in order to accomplish the valid levy of
assessments; and
(2) The City will not be responsible for the conduct of any assessment
proceedings; the levy of assessments; any required remedial action in the case of
delinquencies in such assessment payments; or the issuance, sale, administration,
repayment or guarantee of any bonds issued in connection with the CMFA PACE
Program.
SECTION 5. The City Manager or his designee is authorized to execute and
deliver any certificates, requisitions, agreements and related documents as are
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reasonably required by the City for the CMFA Authority to implement the CMFA PACE
Program.
SECTION 6. This Resolution shall take effect immediately upon its adoption. The
City Clerk is hereby authorized and directed to transmit a certified copy of this resolution
to the Financial Advisor of the Authority at: California Municipal Finance Authority, 2111
Palomar Airport Road, Suite 320, Carlsbad, California 92011, Attn: Anthony Stubbs.
APPROVED AS TO FORM:
JONES MOUTRIE
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Adopted and approved this 1s' day of March, 2016.
I, Denise Anderson -Warren, City Clerk of the City of Santa Monica, do
hereby certify that the foregoing Resolution No. 10939 {CCS} was duly adopted at a
meeting of the Santa Monica City Council held on the 1S1 day of March, 2016, by the
following vote:
AYES: Councilmembers O'Day, Himmelrich, Davis, McKeown,
Mayor Pro Tem Winterer, Mayor Vazquez
NOES: None
ABSENT: Cotincilm-ember O'Connor
ATTEST:
Denise Anderson -Warren, City Clerk