HomeMy WebLinkAboutReso 2001-149 - ABAG Finance 1 ,
CITY OF REDDING
RESOLUTION NO. /00(-(1(?
RESOLUTION APPROVING ASSOCIATE MEMBERSHIP BY THE
CITY OF REDDING IN THE ABAG FINANCE AUTHORITY FOR
NONPROFIT CORPORATIONS AND THE EXECUTION OF AN
ASSOCIATE MEMBERSHIP AGREEMENT RELATING TO
ASSOCIATE MEMBERSHIP OF THE CITY OF REDDING IN THE
AUTHORITY
RESOLVED, by the City Council (the "City Council") of the City of Redding (the
"City"), as follows:
WHEREAS, Southern California Presbyterian Homes and Redding Assisted Living
Corporation, each a nonprofit, public benefit corporation, organized and existing under the
laws of the State of California (collectively "Participant"), have requested that the City assist
in the refinancing of certain assisted living facilities;
WHEREAS, it is in the public interest and for the benefit of the City for the City to
assist the Participant in such refinancing;
WHEREAS, in furtherance thereof and to facilitate such request, the City desires to
become an associate member of the ABAG Finance Authority for Nonprofit Corporations (the
"Authority"); and
WHEREAS, the form of the associate membership agreement (the "Associate
Membership Agreement") between the City and the Authority has been filed with the City,
and the members of the City Council, with the aid of their staff, have reviewed the Associate
Membership Agreement;
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Redding
hereby finds, determines and declares as follows:
Section 1. Associate Membership in the Authority. The City Council hereby approves
associate membership by the City in the Authority.
Section 2. Approval of Associate Membership Agreement. The City Council hereby
approves the form of, and authorizes the Mayor to execute the Associate Membership
Agreement and authorizes the City Clerk to attest to such signature, in substantially the form
on file with the City Clerk, together with any changes therein deemed advisable by the official
signing the Associate Membership Agreement.
Section 3. Official Action. The Mayor, City Manager, the City Clerk and other
officers and officials of the City, are hereby authorized and directed to take all action and do
all things necessary or desirable hereunder with respect to associate membership in the
Authority, including, but not limited to, the execution and delivery of any and all agreements,
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certificates, instruments and other documents which they, or any of them, may deem necessary
or desirable and not inconsistent with the purposes of this Resolution.
Section 4. Withdrawal from the Authority. The Mayor, City Manager, the City Clerk
and other officers and officials 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 refinancing have been issued if it is determined that this would be in the
best interests of the City.
Section S. Effective Date. This Resolution shall take effect upon its adoption by this
City Council.
* * * * * * *
I, the undersigned, City Clerk of the City of Redding, hereby certify that the foregoing
is a full, true and correct copy of a resolution duly adopted by the City Council of the City of
Redding at a meeting thereof on the 2"d day of October, 2001 by the following vote of the
members thereof:
AYES: Cibula, Kight, Pohlmeyer, Stegall and McGeorge
NOES: None
ABSTAIN: None
ABSENT: None /
City Clerk ,
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