HomeMy WebLinkAbout98-05 RDA ResolutionRESOLUTION NO. RDA 98-05
A RE~OLUTION OF THE REDEVELOPMENT
AGENCY OF THE CITY OF TEMECULA
AUTHORIZING FORMATION OF A JOINT
EXERCISE OF POWERS AUTHORITY WITH
THE CITY OF TEMECULA
~, the Redevelopment Agency of the City of Temecula (the "Agency") and the
City of Temecula (the "City") desire to assist in the financing and refinancing of public capital
improvements and related fixed assessment liens in the Winchester Hills area of the City; and
WHEREAS, in connection with such assistance, the Agency and the City propose to form
a joint exercise of powers authority pursuant to Article 1 (commencing with Section 6500) of
Chapter 5 of Division 7 of Tifie 1 of the California Government Code, to exercise the powers of
the Agency and the City, and to enable the use of financing techniques that may reduce local
borrowing costs, and to otherwise promote the greater use of existing and new financial
insm~ments and mechanisms, all in connection with the financing and refinancing of public
improvements and related assessment liens by and through a community facilities district to be
formed by such joint powers authority; and
WHEREAS, a form of joint exercise of powers agreement between the Agency and the
City creating the Winchester Hills Financing Authority (the "Joint Powers Agreement"), has been
filed with the Secretary of the Agency, and the members of the Governing Board of the Agency,
with the aid of Agency staff, have reviewed the Joint Powers Agreement and now desire to
approve it and authorize its execution and delivery.
NOW, THEREFORE, BE IT RESOLVED by the Governing Board of the
Redevelopment Agency of the City of Temecula as follows:
Section 1. Formation of Joint Powers Authority. The Governing Board of the Agency
hereby authorizes the officers and staff members of the Agency to assist in the organization of a
joint exercise of powers authority between the Agency and the City, to be known as the
"Winchester Hills Financing Authority." The Governing Board of the Agency hereby approves
and authorizes the Chairperson to execute and deliver and the Secretary to attest the Joint Powers
Agreement forming said joint exercise of powers authority, in the form on file with the Secretary
together with any changes therein deemed advisable by counsel to de Agency, the approval of
such changes to be conclusively evidenced by the execution and d~.livery by the Agency of the
Joint Powers Agreement.
Resos~RDA 98-05 1
Section 2. Official Actions. The ~, Executive Director, Secretary and all other
officers of the Agency, are hereby authorized and directed to take all actions and do all things
necessary or desirable hereunder with respect to the formation of said joint exercise of powers
authority, including but not limited to the execution and delivery of any and all agreements,
certificate, instruments and other documents, which they, or any of them, may deem necessary
or desirable and not inconsistent with the purposes of this Resolution.
PASSED, APPROVEr) AND ADOPTED, by the Board of Directors of the Temecula
Redevelopment Agency this 10th day of February, 1998.
ATTEST:
Ac-~g Agency SeCatarry/City Clerk
[SEAL]
R~o~RDA 98-05
STATE OF CALIFORNIA)
COUNTY OF RIVERSIDE) $s
CITY OF TEMECULA)
I, Susan W. Jones, Acting Secretary of the Temecula Redevelopment Agency, do hereby
certify that the foregoing RDA Resolution No.98-05 was duly and regularly adopted by the Board
of Directors of the Temecula Redevelopment Agency at a regular meeting thereof held on the
10 th day of February, 1998, by the following vote:
AYES: 5
AGENCY MEMBERS:
Comerchero,Ford,Roberts, Stone
Lindemans
NOES:
0 AGENCY MEMBERS: None
ABSENT: 0 AGENCY MEMBERS: None
Su~an W.~ones, CMC
Agency S~/City Clerk
Resos~,DA 98-05 3