HomeMy WebLinkAbout90-095 - Resolutions RESOLUTION NO. 90-095
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO
CUCAMONGA, CALIFORNIA, APPROVING THE JOINT POWERS
AGREEMENT CREATING THE RANCHO CUCAMONGA PUBLIC FINANCING
AUTHORITY AND OTHER MATTERS RELATING THERETO
WHEREAS, Articles I and 2 of Chapter 5 of Division 7 of Title I of
the Government Code of the State of California authorize the City of Rancho
Cucamonga (the "City") and the Rancho Cucamonga Redevelopment Agency (the
"Agency") to create a joint-exercise-of-powers entity which has the power to
jointly exercise any powers common to the City and the Agency; and
WHEREAS, the City and the Agency are each empowered by law to
undertake certain projects and programs; and
WHEREAS, the City is authorized to issue bonds, expend bond proceeds,
and to borrow and loan money for certain public purposes pursuant to the
Government Code of the State of California; and
WHEREAS, the Agency is authorized to issue bonds, expend bond
proceeds, and to borrow and loan money for any of its corporate purposes
pursuant to the provisions of the Community Redevelopment Act of the State of
California; and
WHEREAS, the City and the Agency desire to create and establish the
Rancho Cucamonga Public Financing Authority; and
WHEREAS, there has been presented at this meeting a form of Joint
Exercise of Powers Agreement creating the Rancho Cucamonga Public Financing
Authority between the Agency and the City;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RANCHO CUCAMONGA DOES
HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS:
SECTION 1: Approval of Joint Powers Agreement. The form of Joint
Exercise of Powers Agreement creating the Rancho Cucamonga Public Financing
Authority (the "Joint Powers Agreement") presented at this meeting is hereby
approved, and the Mayor or any other member of this City Council and the City
Clerk are hereby authorized and directed to execute and deliver the Joint
Powers Agreement for and on behalf of the City in substantially the form
presented at this meeting, with such changes thereto as the officers executing
the same deem necessary or in the best interests of the City, such approval to
be conclusively evidenced by the execution and delivery thereof.
SECTION 2: Other Acts. The officers and staff of the City are
hereby authorized and directed, jointly and severally, to do any and all
things, to execute and deliver any and all documents, which in consultation
with the City Attorney, as they may deem necessary or advisable in order to
consummate the creation of the Rancho Cucamonga Public Financing Authority or
otherwise effectuate the purposes of this Resolution, and any and all such
actions previously taken by such officers or staff members are hereby ratified
and confirmed.
Resolution No. 90-095
Page 2
SECTION 3: Effective Date. This Resolution shall take effect
immediately upon adoption.
PASSED, APPROVED, and ADOPTED this 21st day of February, 1990.
AYES: Alexander, Brown, Buquet, Stout, Wright
NOES: None
ABSENT: None
~-Denni$ L. Stout, Mayor
ATTEST:
~s~Cit~' C1 e rk
I, DEBRA J. ADAMS, CITY CLERK of the City of Rancho Cucamonga,
California, do hereby certify that the foregoing Resolution was duly passed,
approved, and adopted by the City Council of the City of Rancho Cucamonga,
California, at a regular meeting of said City Council held on the 21st day of
February, 1990.
Executed this 22nd day of February, 1990 at Rancho Cucamonga,
California.
ity C1 erk