AgdaPkt 2014-09-22 Closed and Joint with SA

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ATTY/RESO.3016/CC FIG TREE PACE PROGRAM REV: 9-12-14 PT Page 2 of 15 WHEREAS, pursuant to Chapter 29, the City authorizes CEDA to conduct assessment proceedings, levy assessments, pursue remedies in the event of delinquencies, and issue bonds or other forms of indebtedness to finance the Improvements in connection with Figtree PACE; and WHEREAS, to protect the City in connection with operation of the Figtree PACE program, Figtree Energy Financing, the program administrator, has agreed to defend and indemnify the City; and WHEREAS, the City will not be responsible for (i) the conduct of any assessment proceedings or other proceedings under Chapter 29; (ii) the levy and collection of assessments; or (iii) the conduct or prosecution of any required remedial action in the case of delinquencies in the payment of any assessments; or (iv) the issuance, sale or administration of any bonds issued in connection with the Figtree PACE Program. WHEREAS, the City will have no financial obligation to CEDA (or the holders of any bonds or other debt issued by the Authority); and WHEREAS, the City will not pledge any money or assets of the City as a guarantee of any contractual assessment levied in connection with the Figtree PACE Program (or as a guarantee of any bond or debt issued to fund Improvements in connectio n with such a contractual assessment); and NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF REDWOOD CITY AS FOLLOWS: SECTION 1. Good Standing. The City is a municipal corporation and a member of CEDA in good standing. SECTION 2. Appointment of CEDA. The City hereby authorize CEDA to (i) record assessments against Participating Parcels, (ii) administer the District in accordance with the Improvement Act of 1915 (Chapter 29 Part 1 of Division 10 of the California Streets and Highways Code (commencing with Section 8500 et seq.) (the “Law”), (iii) prepare program guidelines for the operations of the Program and (iv) proceed with any claims, proceedings or legal actions as shall be necessary to collect past due assessments on the properties within the District in accordance with the Law and Section 6509.6 of the California Government Code. The City is not and will not be deemed to be an agent of Figtree or CEDA as a result of this Resolution. SECTION 4. Assessment Proceedings. In connection with Figtree PACE, the City hereby consents to the conduct of proceedings by CEDA pursuant to Chapter 29 on any property within the incorporated territory of the City as of the date of this Resolution and to the issuance of Bonds under the 1915 Act, provided that: 9.B. - Page 17