RES 78081 - Laserfiche WebLink

and kas satisfied the City Council that steps have been taken which satis- factorily guarantee that construction of marketing facilities will be completed, then the following steps with respect to the assessment districts (other than Assessment District 1974-1) and the construction of the water supply facilities will occur in accordance with the order herein established: (a)'Permits required for the initial phases of construc- tion of the Regional Shopping Center will have been obtained from the City and appropriate departments and agencies of the State of California and the Federal Government provided that the City may issue permits sequential!y as needed. (b) Bond maturity schedule will be agreed upon between Developer and City. (c) City will cause the assessments theretofore levied in assessment districts heretofore described to be recorded which, upon such recordation, will become a lien upon the properties assessed, and the City will cause the necessary steps to be undertaken to cause the of water facilities as described in Section II, B. construction 6, Augumented 2. Water Supply° The word "guarantee" used in p~eceding Paragraph III-D-1 above is defined as documentation that includes, but is not limited to, execution between the appropriate parties of a Reciprocal Easement and Operating Agreement, an executed agreement betwee~ Developer and a licensed contractor to construct the Shopping Center Mall, and evidence that a qualified financial institution has committed to finance the construction of said Mall. E. Financial Arrangement. City proposes to undertake when needed the following financial arrangements to pay for its share of the cost of public works to be done by Assessment Districts No. 1974-2 and Xo. 1974-4: -8-