Community Facilities District Financing. The Parties agree and confirm that the Designated Improvements will be, inter alia, beneficial to the existing and future residents of the City and the State, and the affected property, and acknowledge the Agency’s intent to finance its provision of consideration under this Agreement for the design and construction of the Designated Improvements, in whole or in part, through one or more community facility districts (“CFDs”) under the Xxxxx-Xxxx Community Facilities Act of 1982 (Government Code §§ 53311 et seq.) (as amended, the “CFD Act”). To facilitate this effort, the Parties shall reasonably cooperate in taking any additional actions that may be necessary to ensure compliance with the requirements of the CFD Act, including but not limited to entry into a joint facilities agreement identifying the Designated Improvements if such agreement is required by applicable law; provided, however, that any such actions shall be undertaken at the Agency’s sole cost and expense, and in no event shall State Parks or the Commission be obligated to undertake any action that would adversely affect their respective rights and obligations under this Agreement, including but not limited to State Parks’ discretion regarding the improvements to be constructed in the CPSRA. Nothing in this section shall affect the form, amount, or timing of the Additional Park Consideration that the Agency is required to provide to State Parks under this Agreement.
Community Facilities District Financing
