R10941Council Meeting: March 1, 2016 Santa Monica, California
RESOLUTION NUMBER 10J11 (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 ENTERPRISE DEVELOPMENT AUTHORITY PACE
PROGRAM; AUTHORIZING THE CALIFORNIA ENTERPRISE DEVELOPMENT
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 Enterprise Development Authority (the "CEDA
Authority"), a joint exercise of powers authority, has established the Communities
Facilities District No. 2014-1 ("Clean Energy") in accordance with the Mello -Roos
Community Facilities Act, set forth in California Government Code Sections 53311
through 53368.3, and particularly in accordance with Sections 53313.5(1) and
53328.1(a)(the "District"); and
WHEREAS, the CEDA Authority has established its CEDA PACE Program ("the
CEDA PACE Program") through Figtree Financing ("Figtree") to allow the financing or
refinancing the acquisition, installation, and improvement of energy efficiency and
renewable energy generation projects for both residential and commercial properties 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 7 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
1
respective territories in the CERA PACE Program and the issuance of bonds from time
to time; and
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 CEDA PACE Program and to allow the CEDA 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 CEDA Authority will conduct all assessment proceedings under
Chapter 29 for its CEDA PACE Program and issue any bonds issued in connection with
its CEDA 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 CEDA PACE
Program or its successor organization.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA MONICA
DOES RESOLVE AS FOLLOWS:
2
SECTION 1. The recitals set forth hereinabove are true and correct in all
respects.
SECTION 2. This City Council hereby finds and declares that properties in the
territory of the City will benefit from the availability of the CEDA PACE Program within the
territory of the City and, pursuant thereto, the conduct of special assessment proceedings
by the CEDA Authority pursuant to Chapter 29 and the issuance of bonds to finance or
refinance Improvements.
SECTION 3. The City consents to the inclusion of properties within the territory of
the City in the CEDA PACE Program, and authorizes the CEDA Authority to accept
applications from property owners within the City for participation in the CEDA PACE
Program.
SECTION 4. The City hereby consents to the conduct of special assessment
proceedings by the CEDA 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 CEDA PACE
Program.
3
SECTION 5. The City Manager or his designee is authorized to execute and
deliver any certificates, requisitions, agreements and related documents as are
reasonably required by the City for the CEDA Authority to implement the CEDA PACE
Program.
SECTION 6. The City Council hereby approves the joining of the Joint Powers
Authority with the California Enterprise Development Authority as an Associate Member
and authorizes the execution by the City Manager of any necessary documents to
effectuate such membership.
SECTION 7. 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 Secretary of the California Home Finance Authority.
APPROVED AS TO FORM:
121
Adopted and approved this 111t day of March, 2016.
I, Denise Anderson -Warren, - City Clerk of the City of Santa Monica, do
hereby certify that the foregoing Resolution No. 10941 (CCS) was duly adopted at a
meeting of the Santa Monica City Council held on the 1st day of March, 2016, by the
following vote:
AYES: Councilmembers O'Day, Himmelrich, Davis, McKeown,
Mayor Pro Tem Winterer, Mayor Vazquez
NOES: None
ASSENT: Councilmember O'Connor
ATTEST.-
Denise
TTEST:
Denise Anderson -Warren, City Clerk