HomeMy Public PortalAbout2012.213 (11-20-12) RESOLUTION NO. 2012.213
A RESOLUTION APPROVING, CONFIRMING AND RATIFYING THE CITY'S
PARTICIPATION IN THE CALIFORNIA COMMUNITIES TOTAL ROAD
IMPROVEMENT PROGRAM AS PREVIOUSLY AUTHORIZED BY THE CITY'S
RESOLUTION NO. 2012.061; AND OTHER MATTERS RELATING THERETO
WHEREAS, the California Statewide Communities Development Authority (the
"Authority ") is empowered to assist the City of Lynwood (the "City ") in financing certain
public capital improvements pursuant to Article 4 of Chapter 5 of Division 7 of Title 1 of
the Government Code of the State of California (the "Act ") and pursuant to that certain
Amended and Restated Joint Exercise of Powers Agreement among a number of
California cities, counties and special districts, including the City of Lynwood, dated
June 1, 1988; and
WHEREAS, pursuant to Resolution No. 2012.061, adopted by the City Council of
the City (the "City Council ") on April 3, 2012 (the "Authorizing Resolution "), the City
previously determined to participate in the California Communities Total Road
Improvement Program (TRIP) (the "Program ") established by the Authority to finance
street improvement projects; and
WHEREAS, pursuant to the Program the Authority will acquire and construct
certain roadway improvements and street resurfacing for the City (the "Project "), and
• sell the Project to, the City, pursuant to an Installment Sale Agreement by and between
the City and the Authority (the "Installment Sale Agreement "); and
WHEREAS, the City in consultation with the City's Financial Advisor for the
Program, has determined to pledge local Measure R Revenues, subject to any then
outstanding commitment or pledge of local Measure R Revenues, to the payment of
2012 Installment Sale Payments (as those terms are respectively defined in the
Installment Sale Agreement) and to revise the Installment Sale Agreement to reflect
such pledge; and
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WHEREAS, the City in consultation with the City's Financial Advisor for the
Program, has determined not to pledge motor vehicle fuel tax revenues received by the
City from the State of California ( "Gas Tax Revenues ") and to revise the Installment
Sale Agreement to reflect such pledge modification.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LYNWOOD DOES
HEREBY FIND, PROCLAIM, ORDER, AND RESOLVE AS FOLLOWS:
Section 1. The foregoing recitals herein contained are true and correct and the
City Council so finds.
Section 2. The form of the Installment Sale Agreement modified to provide for
the. pledge 'of local Measure R Revenues and the elimination of the pledge of Gas Tax
Revenues to the payment of 2012 Installment Sale Payments, on file with the City Clerk,
is hereby approved, and the Authorized Officers specified in the Authorizing Resolution,
are each hereby authorized and directed, for and in the name and on behalf of the City,
to execute and deliver the Installment Sale Agreement in substantially said - fd'rni, 'With
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such changes, insertions and omissions therein as the Authorized :Officer executing -the
same may require or approve, such approval to be conclusively 'evidenced by the
execution and delivery thereof.
Section 3. The Authorized Officers and any and all other officers, agents. -and
employees of the City are hereby authorized and directed to take any and all actions
and execute and deliver any and all documents necessary or convenient to accomplish
the purposes of this Resolution, including without limitation, the appropriate modification
of the documents approved by the City Council in the Authorizing .Resolution.
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Section 4. Except as provided herein, the terms and provisions of the
Authorizing Resolution are approved, confirmed and - ratified; and all actions :heretofore
taken by the officers, employees and agents of the City with respect to the transactions
set forth above are hereby approved, confirmed and ratified.
Section 5. This Resolution shall go into effect immediately upon its adoption.
PASSED, APPROVED and ADOPTED this 20t" day of :Nover, ber, 2012.
II i'�.®
.;im Morton, ' ! r ayor
ATTEST:
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/ pi
Maria Quinonez, City Clerk / Roger' L. Haley, City Manager
APPROVED AS TO FORM: APPROVED AS TO CONTENT:
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Fred Galante, City Attorney Amanda Roberson, Controller /`
Audit Manager
STATE OF CALIFORNIA
) SS.
COUNTY OF LOS ANGELES )
I, the undersigned, City Clerk of the City of Lynwood, do hereby certify that the
foregoing Resolution was passed and adopted by the City Council of the City of
Lynwood at a regular meeting held on the 20 day of November, 2012.
AYES: COUNCIL MEMBERS RODRIGUEZ, ALATORRE, AND MORTON
NOES: COUNCIL MEMBERS CASTRO AND SANTILLAN -BEAS
ABSENT: NONE
ABSTAIN: NONE
aria Quinonez, City Clerk /
STATE OF CALIFORNIA
)SS.
COUNTY OF LOS ANGELES )
I, the undersigned, City Clerk of the City of Lynwood, and the Clerk of the City
Council of said City, do hereby certify that the above foregoing is a full, true and correct
copy of Resolution No. 2012.213 on file in my office and that said Resolution was
adopted on the date and by the vote therein stated. Dated this 20 day of November,
2012.
Maria Quinonez, City Clerk
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