HomeMy WebLinkAbout01-02 RDA ResolutionRESOLUTION NO. RDA 01-02
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE
CITY OF TEMECULA AUTHORIZING FORMATION OF A JOINT
EXERCISE OF POWERS AUTHORITY WITH THE CITY OF
TEMECULA
WHEREAS, 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 in 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 Title 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 instruments and
mechanisms, all in connection with the financing and refinancing of public improvements by and
through community facilities districts 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 Temecula Public 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 "Temecula
Public 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 the Agency, the approval of
such changes to be conclusively evidenced by the execution and delivery by the Agency of the
Joint Powers Agreement.
Section 2. Official Actions. The Chairperson, 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,
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.
Resos. RDA/01-02 1
PASSED, APPROVED AND ADOPTED, by the Governing Board of the Redevelopment
Agency of the City of Temecula at a regular meeting held on the 24th day of April, 2001.
Ron Roberts, Chairperson
ATTEST:
· JoneS, CMC
Auth~ary
[SE A L,]
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) . ss
CITY OF TEMECULA )
I, Susan Jones, Secretary of the Redevelopment Agency of the City of Temecula, HEREBY DO
CERTIFY that the foregoing Resolution No. RDA 01-02 was duly adopted at a regutar meeting
of the Governing Board of the Redevelopment Agency of the City of Temecula on the 24th day
of April, 2001, by the following roll call vote:
AYES: 5
NOES: 0
ABSENT: 0
AGENCYMEMBERS:
AGENCYMEMBERS:
AGENCYMEMBERS:
Comerchero, Naggar, Pratt, Stone, Roberts
None
None
Secretary
Resos. RDN01-02 2