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HomeMy WebLinkAboutReso 2002-077 - ABAG RESOLUTION NO. —17 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING AUTHORIZING THE EXECUTION AND DELIVERY OF AN ASSOCIATE MEMBERSHIP AGREEMENT AND APPROVING THE CITY'S ASSOCIATE MEMBERSHIP IN THE ABAG FINANCE AUTHORITY FOR NONPROFIT CORPORATIONS WHEREAS,the City of Redding, California (the "City") is a municipal corporation duly organized and existing under the Constitution and laws of the State of California; WHEREAS, the City, upon authorization of the City Council, may, pursuant to Chapter 5 of Division 7 of Title 1 of the Government Code of the State of California, commencing with Section 6500 (the "JPA Law"), enter into a joint exercise of powers agreement with one or more other public agencies pursuant to which such contracting parties may jointly exercise any power common to them; WHEREAS,certain public agencies have entered into a joint exercise of powers agreement pursuant to the JPA Law (the "Joint Exercise of Powers Agreements") under which the ABAG Finance Authority for Nonprofit Corporations (the "Authority") has been created to, among other things, assist nonprofit corporations and other entities to obtain tax-exempt financing; WHEREAS, under California law and the Joint Exercise of Powers Agreement, the Authority is a public entity separate and apart from the parties to the Joint Exercise of Powers Agreement and the debts, liabilities and obligations of the Authority will not be the debts,liabilities or obligations of its member entities; WHEREAS, this Council proposes to authorize the execution of an Associate Membership Agreement relating to the above-referenced Joint Exercise of Powers Agreement (the "Associate Membership Agreement"), in substantially the form presented to this Council, and to approve the City's joining the Authority as an Associate Member(as defined in the Joint Exercise of Powers Agreement);and WHEREAS, all acts, conditions and things required by the Constitution and laws of the State of California to exist, to have happened and to have been performed precedent to and in connection with the consummation of the transaction authorized hereby do exist, have happened and have been performed in regular and due time, form and manner as required by law, and the City is now duly authorized and empowered, pursuant to each and every requirement of law, to consummate such transactions for the purpose,in the manner and upon the terms herein provided; NOW,THEREFORE,BE IT RESOLVED AS FOLLOWS: SECTION 1. Declaration of City Council. This City Council hereby specifically finds and declares that the actions authorized hereby constitute and are with respect to public affairs of the City, and that the statements, findings and determinations of the City set forth in the preambles above and of the documents approved herein are true and correct. SECTION 2. Associate Membership Agreement. The form of Associate Membership Agreement, presented to this meeting and on file with the City Clerk is hereby approved. The Mayor of the City,the City . . Manager of the City, the Deputy City Manager of the City and any other City officer or official of the City authorized by the Mayor or the City Manager are each hereby authorized and directed, for and in the name and on behalf of the City, to execute, acknowledge and deliver of the Associate Membership Agreement in substantially said form,with such changes therein as such officer may require or approve,such approval to be conclusively evidenced by the execution and delivery thereof. The City's joining the Authority as an Associate Member is hereby approved. SECTION 3. Attestation and Seal. The City Clerk is hereby authorized and directed to attest the signature of the authorized signatory, and to affix and attest the seal of the City, as may be required or appropriate in connection with the execution and delivery of the Associate Membership Agreement. SECTION 4. Further Actions. The Mayor of the City, the City Manager of the City, the Deputy City Manager of the City, and any other officer or official of the City authorized by the Mayor or the City Manager,are hereby authorized and directed,jointly and severally,to do any and all things and to execute and deliver any and all documents which they may deem necessary or advisable in order to consummate,carry out, give effect to and comply with the terms and intent of this resolution, the Associate Membership Agreement and the Joint Exercise of Powers Agreement. Such actions heretofore taken by such officers are hereby ratified,confirmed and approved. SECTION 5. Withdrawal from the Authority. The Mayor, City Manager, Deputy City Manager, and any other officer and official of the City, are hereby authorized and directed to take all action and do all things necessary or desirable to withdraw from the Authority pursuant to Article XIX of the Joint Powers Agreement Creating the ABAG Finance Authority for Nonprofit Corporations and Article XII of the Authority's Bylaws after the tax exempt bonds associated with the Heritage Plaza Apartments have been issued if it is determined that this would be in the best interests of the City. SECTION 6. Effective Date. This resolution shall take effect immediately upon its passage. I HEREBY CERTIFY that the foregoing resolution was adopted by the City Council of the City of Redding at a meeting of said Council held on the 7th day of May,2002,by the following roll call vote: AYES: Cibula, McGeorge, Pohlmeyer, Stegall and Kight NOES: None ABSENT: None ABSTAINING: None By: yor Al TEST: City jerk F kpprove,d �O 'le-er- . c W. LEONARD WIN F