HomeMy WebLinkAbout98-013 CC ResolutionRESOLUTION NO. 98-13
A RESOLSON OF THE CITY COUNCIL OF THE CITY
OF TEMECULA AUTHORIZ~G FORMATION OF A JOINT
EXERCISE OF POWERS AUTHORITY WITH THE
REDEVELOPMENT AGENCY OF THE CITY OF
TEMFX2ULA
WHEREAS, the City of Temecula (the "City") and the Redevelopment Agency of the City
of Temecula (the "Agency") 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 City and the Agency propose to form
a joint exercise of powers authorities pursuant to Article 1 (commencing with Section 6500) of
Chapter 5 of Division 7 of Title 1 of the California Government Code, to exercise the powers of
the City and the Agency, 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
instruments and mechanisms, all in accordance 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 City and the
Agency creating the Winchester Hills Financing Authority (the "Joint Powers Agreement"), has
been filed with the City Clerk, and the City Council, with the aid of City staff, have reviewed the
Joint Powers Agreement; and
WHEREAS, the City Council now desires to approve the Joint Powers Agreement, and
to authorize its execution and delivery.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Temecula as follows:
Section 1. Formation of Joint Powers Authority. The City Council hereby authorizes the
officers and staff members of the City to assist in the organization of a joint exercise of powers
authority between the City and the Agency to be known as the "Winchester Hills Financing
Authority." The City Council hereby approves and authorizes the Mayor to execute and deliver
and the City Clerk to attest the Joint Powers Agreement forming said joint exercise of powers
authority, in the form on file with the City Clerk together with any changes therein deemed
advisable by the City Attorney, the approval of such changes to be conclusively evidenced by the
execution and delivery by the City of the Joint Powers Agreement.
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Section 2. Official Actions. The Mayor, City Manager, City Clerk and all other officers
of the City 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, 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.
PASSED, APPROVED AND ADOFrED, by the City Council of the City of Temecula,
at a regular meeting held on the 10th day of February, 1998.
Ron Roberts,
ATTEST:
Acfing'City Clerk
[SE L]
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STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss
CITY OF TEMECULA )
I, Susan W. Jones, Acting City Clerk of the City of Temecula, California, do hereby certify that
Resolution No. 98-13 was duly and regularly adopted by the City Council of the City of Temecula
at a regular meeting thereof held on the 10th day of February, 1998, by the following vote:
AYES: 5
COUNCILMEMBERS:
Comerchero, Ford, Roberts, S tone,
Lindemans
NOES: 0
COUNCILMEMBERS: None
ABSENT: 0
COUNCILMEMBERS: None
Resos\98-13 3