HomeMy WebLinkAbout95-07 RDA Resolution RESOLUTION NO. RDA 95-07
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF
TEMECULA AUTHORIZING FORMATION OF TWO JOINT EXERCISE OF
POWERS AUTHORITIES 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 provision of public capital
improvements in the Old Town and the Westside areas of the City, as contemplated by the
respective Specific Plans for such areas heretofore approved by separate ordinances of the
City Council;
WHEREAS, in connection with such assistance, the Agency and the City propose to
form two distinct and separate 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 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 of some of the improvements; and
WHEREAS, a form of joint exercise of powers agreement between the Agency and
the City creating the Old Town/Westside Improvement Authority, and form a joint exercise
of powers agreement between the Agency and the City creating the Old Town/Westside
Community Facilities District Financing Authority (collectively, the "Joint Powers
Agreements"), have 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 Agreements.
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 Authorities. The Governing Board of the
Agency hereby authorizes the officers and staff members of the Agency to assist in the
organization of two joint exercise of powers authorities between the Agency and the City, one
to be known as the "Old Town/Westside Improvement Authority", and the other to be known
as the "Old Town/Westside Community Facilities District 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 Agreements forming said joint exercise of powers
authorities, in the respective forms 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 Agreements.
Section 2. Official Actions. The Chairperson, Executive Director, Secretary and
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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 authorities, 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 ADOPTED, by the Governing Board of the
Redevelopment Agency of the City of Temecula at a regular meeting held on the 12th day of
September, 1995.
ATTEST:
June~, Agency Secretary/City Clerk
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STATE OF CALIFORNIA)
COUNTY OF RIVERSIDE) SS
CITY OF TEMECULA)
I, June S. Greek, City Clerk of the City of Temecula, HEREBY DO CERTIFY that the
foregoing Resolution No. RDA 95-07 was duly adopted at a regular meeting of the Governing
Board of the Redevelopment Agency of the City of Temecula on the 12th day of September,
1995, by the following roll call vote:
AYES: 4 AGENCYMEMBERS: Birdsall, Lindemans, Parks,
Roberts
NOES:
0 AGENCYMEMBERS: None
ABSENT:
0 AGENCYMEMBERS: None
ABSTAINED:
1 AGENCYMEMBERS: Stone
J~e 8. Gree , CMC, Agency Secretary/
City Clerk
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