HomeMy WebLinkAboutReso 103-23 Approving a Desposit and Reimbursement Agreement with TH East Ranch Dublin LLC
Reso. No. 103-23, Item 4.4, Adopted 09/19/2023 Page 1 of 2
RESOLUTION NO. 103 – 23
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
APPROVING A DEPOSIT AND REIMBURSEMENT AGREEMENT WITH TH EAST RANCH
DUBLIN LLC
WHEREAS, TH East Ranch Dublin LLC (Trumark Homes) (the “Developer”) submitted an
application to the City to initiate and conduct proceedings for establishment of a community
facilities district, pursuant to the Mello-Roos Community Facilities Act of 1982 (the “Act”), related
to its planned “East Ranch” project in the City (such community facilities district, the “CFD”), and
to issue and sell special tax bonds of the City, acting on behalf of the CFD, in one or more series
over time (the “Bonds”) pursuant to the Act and upon the security of the unpaid special tax
revenues derived from the levy of the special tax levied upon the taxable property in the CFD,
which (among other things) is to be levied to finance the cost and expense of acquiring,
constructing and installing certain authorized public capital improvements and the reimbursement
of certain authorized fees; and
WHEREAS, the Developer shall be responsible for all the costs of forming the CFD,
including the costs of legal counsel, special tax consultants, and price point consultants
(collectively, the “Proceedings Costs”); and
WHEREAS, to provide the terms and conditions under which the Developer will make an
initial deposit and subsequent deposits, if needed, to pay for the Proceedings Costs, a form of
Deposit and Reimbursement Agreement has been prepared, filed with the City Clerk and
submitted to the members of this City Council for consideration at this meeting.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Dublin does
hereby approve the Deposit and Reimbursement Agreement with TH East Ranch Dublin LLC,
attached hereto as Exhibit A, and authorize the City Manager to execute the agreement.
BE IT FURTHER RESOLVED that the City Manager is authorized make any necessary,
non-substantive changes to carry out the intent of this Resolution.
{Signatures on the following page}
DocuSign Envelope ID: DD45DA5D-D089-447D-9B3B-B62BC73792E2
Reso. No. 103-23, Item 4.4, Adopted 09/19/2023 Page 2 of 2
PASSED, APPROVED AND ADOPTED this 19th day of September 2023, by the following
vote:
AYES: Councilmembers Hu, Josey, McCorriston, Qaadri and Mayor Hernandez
NOES:
ABSENT:
ABSTAIN:
______________________________
Mayor
ATTEST:
_________________________________
City Clerk
DocuSign Envelope ID: DD45DA5D-D089-447D-9B3B-B62BC73792E2
Exhibit A DocuSign Envelope ID: DD45DA5D-D089-447D-9B3B-B62BC73792E2
Exhibit A DocuSign Envelope ID: DD45DA5D-D089-447D-9B3B-B62BC73792E2
Exhibit A DocuSign Envelope ID: DD45DA5D-D089-447D-9B3B-B62BC73792E2
Exhibit A DocuSign Envelope ID: DD45DA5D-D089-447D-9B3B-B62BC73792E2
Exhibit A DocuSign Envelope ID: DD45DA5D-D089-447D-9B3B-B62BC73792E2
Exhibit A DocuSign Envelope ID: DD45DA5D-D089-447D-9B3B-B62BC73792E2