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RES 18-994
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RES 18-994
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1/31/2018 9:01:51 AM
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CITY CLERK
CITY CLERK - TYPE
RESOLUTIONS
DOCUMENT DATE
1/16/2018
DESTRUCT DATE
PERMANENT
DOCUMENT NO
18994
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INDEMNIFICATION AGREEMENT <br /> BY AND BETWEEN <br /> THE CITY OF PLEASANTON AND <br /> FIGTREE COMPANY, INC. <br /> This Indemnification Agreement (the "Agreement") is entered into by and between the City of <br /> Pleasanton, a municipal corporation or political subdivision, duly organized and existing under the <br /> laws of the State of California (the "City") and Figtree Company, Inc., a California corporation, the <br /> administrator of the Figtree Property Assessed Clean Energy and Job Creation Program (the <br /> "Administrator"), which is a program of the California Enterprise Development Authority, a <br /> California joint exercise of powers authority (the "Authority"). <br /> RECITALS <br /> WHEREAS, the Authority is a joint exercise of powers authority whose members include <br /> the City in addition to other cities and counties in the State of California; and <br /> WHEREAS, the Authority established the Figtree Property Assessed Clean Energy and Job <br /> Creation Program (the "Figtree PACE Program") to allow the financing of certain renewable <br /> energy, energy efficiency and water efficiency improvements that are permanently affixed to real <br /> property through the levy of assessments voluntarily agreed to by the participating property <br /> owners pursuant to Chapter 29 of Division 7 of the Streets and Highways Code ("Chapter 29") <br /> and the issuance of improvement bonds, or other forms of indebtedness, under the Improvement <br /> Bond Act of 1915 upon the security of the unpaid assessments; and <br /> WHEREAS, the Authority has conducted or will conduct proceedings required by Chapter <br /> 29 with respect to the territory within the boundaries of the City; and <br /> WHEREAS, the legislative body of the City adopted or will adopt a resolution authorizing the <br /> City to join the Figtree PACE Program; and <br /> WHEREAS, the City will not be responsible for the formation, operation and administration <br /> of the Figtree PACE Program as well as the sale and issuance of any bonds or other forms of <br /> indebtedness in connection therewith, including the conducting of assessment proceedings, the <br /> levy and collection of assessments and any remedial action in the case of such assessment <br /> payments, and the offer, sale and administration of any bonds issued by the Authority on behalf of <br /> the Figtree PACE.Program; and <br /> WHEREAS, the Administrator is the administrator of the Figtree PACE Program and agrees <br /> to indemnify the City in connection with the operations of the.Figtree PACE Program as set forth <br /> herein; <br /> NOW, THERFORE, in consideration of the above premises and of the City's agreement to <br /> join the Figtree PACE Program, the parties agree as follows: <br /> 12 <br /> on real :-:::>; -""<->9- <br /> Section 11-x,;,f_"r -ration of Current Roll of Assessment. Pursuant to Section <br /> 5898.24(c), CEDA hereby designates the Program Administrator as the responsible party for <br /> annually preparing the current roll of assessment obligations by assessor's parcel number on <br /> - property subject to a voluntary contractual assessment. <br /> Section 12. Procedures for Responding to Inquiries. The Program Administrator; <br /> shall establish procedures to promptly respond to inquiries concerning current and future <br /> estimated liability for a voluntary contractual assessment. <br /> Section 13. Effective Date. This resolution shall take effect immediately upon its <br />ract") specifying the terms and <br /> conditions of the agreement between CEDA and a property owner. <br /> (c) A statement of CEDA's policies concerning contractual assessments including all <br />ers participating in <br /> the Figtree PACE Program, shall advance available surplus funds from its treasury to cure any <br /> deficiency in the redemption fund to be created with respect to the indebtedness; provided, <br /> however, that this determination shall not prevent CEDA or any of its members from, in their <br /> sole discretion, so advancing funds. The Bonds may be refunded under Division 11.5 of the <br /> California Streets and Highways Code or other applicable laws permitting refunding, upon the <br />