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Home My Public Portal About2013.126 (10-01-13) • RESOLUTION NO. 2013.126 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD APPROVING AMENDMENT NO. 8 TO THE JOINT POWERS AGREEMENT WHICH CHANGES THE POSITION OF PROGRAM ADMINISTRATOR TO EXECUTIVE DIRECTOR AND ADDS CLARIFYING LANGUAGE REGARDING HOUSING AUTHORITIES WHEREAS, the Board of Directors of the Independent Cities Finance Authority ("Authority") now desires to adopt Amendment No. 8 to the Joint Powers Agreement which changes the position of program Administrator to Executive Director and adds clarifying language regarding housing authorities; and ' • WHEREAS, the City of Lynwood is a member of the Authority; and WHEREAS, the ICFA Joint Powers Agreement shall only become effective upon receipt by the Authority of notice of approval, via an executed resolution, of a majority of the Legislative Bodies of the ICFA Members. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LYNWOOD DOES HEREBY FIND, PROCLAIM, ORDER AND RESOLVE AS FOLLOWS: Section 1. Recitals. The Recitals set forth above are true and correct and incorporated herein by reference. Section 2. Authorization. The City Council hereby approves Amendment No. 8 to the Joint Powers Agreement as set forth in Exhibit "A" attached hereto and incorporated hereby by reference. Section 3. Coordination. City staff is authorized and directed to coordinate with ICFA staff to facilitate the adoption of this Amendment No. 8. • Section 4. Effective Date. This Resolution shall take effect immediately upon its adoption. The City Clerk is directed to send a certified copy of this Resolution to the Secretary of the ICFA Executive Committee. PASSED, APPROVED and ADOPTED this 1st day of October, 2013. Saivad•r Alatorre, Mayor ATTEST: aria Quinonez, City Clerk ' APPROVED AS TO FORM: APPROVED AS TO'CONTENT: „ski/(/___ Fre. Galante, City Attorney Richard N.Warne Interim City Manager randa Roberson, Director Finance STATE OF CALIFORNIA ) § COUNTY OF LOS ANGELES ) I, the undersigned City Clerk of the City of Lynwood, do hereby certify that the above and foregoing Resolution was duly adopted by the City Council of the City of Lynwood at a regular meeting held in the City Hall of said City on the 1st day of October 2013, and passed by the following vote: AYES: COUNCIL MEMBERS CASTRO, SANTILLAN-BEAS, MORTON AND ALATORRE NOES: NONE ABSENT: COUNCIL MEMBER RODRIGUEZ ABSTAIN: NONE aria Quinonez, City Clerk / STATE OF CALIFORNIA ) § COUNTY OF LOS ANGELES ) I, the undersigned City Clerk of the City of Lynwood, and Clerk of the City Council of said City, do hereby certify that the above and forgoing is a full, true and correct copy of Resolution No. 2013.126 on file in my office and that said Resolution was adopted on the date and by the vote therein stated. Dated this 1st day of October 2013. aria Quinonez, City Clerk / • Exhibit "A" Amended No..8 To ICFA Joint Powers Agreement . Exhibit "A" 65054.00000\8080164,1 ` I • • AMENDMENT NO. 8 TO THE JOINT POWERS AGREEMENT CREATING THE INDEPENDENT CITIES LEASE AUTHORITY • THIS AMENDMENT NO. 8 TO THE JOINT POWERS AGREEMENT CREATING THE INDEPENDENT CITIES LEASE FINANCE AUTHORITY (this "Amendment No. 8") by and among the CITY OF BALDWIN PARK, the CITY OF COMPTON, the CITY OF . HAWTHORNE, the CITY OF HERMOSA BEACH, the CITY OF HUNTINGTON PARK, the CITY OF LYNWOOD, the CITY OF SAN FERNANDO, the CITY OF SOUTH GATE and the CITY OF VERNON, each a municipal corporation duly organized and existing under the laws of the State of California(collectively,the "Members")' WITNESSETH: WHEREAS, the Members have entered into a Joint Powers Agreement Creating the Independent Cities Lease Financing Authority (the "Joint Powers Agreement"), establishing the Independent Cities Lease Financing Authority(the "Authority")and prescribing its purposes and powers; and WHEREAS, the Board of Directors of the Authority now seek to approve Amendment No. 8 to the Joint Powers Agreement, amending the Joint Powers Agreement to reflect the changes contained herein below. NOW, THEREFORE, in consideration of the above premises and of the mutual promises herein contained, the Members do hereby agree as follows: • Section 1. Article 1 of the Joint Powers Agreement, entitled "Definitions" is hereby amended in part to replace the definition of"Authority" to read as follows: "Authority" shall mean the Independent Cities Finance Authority , created by this Agreement. - Section 2. Article 1 of the Joint Powers Agreement, entitled "Definitions" is hereby amended in part to adding a new definition for Housing Authority Law: "Housing Authority Law" shall refer to all the powers and duties ' related to financing for the acquisition, construction, rehabilitation, refinancing or development of housing pursuant to the provisions of Part 2 of Division 24 (commencing with Section 34200) of the California Health and Safety Code with respect to those Members or Associate Members that are a housing authority located in the State of California. Section 3. Article 2 of the Joint Powers Agreement, entitled "Purposes" is hereby amended in its entirety to read as follows: • • This Agreement is entered into by the Members in order that they may jointly develop programs to assist in the raising'of capital to finance the capital improvement needs of Local Agencies, provide • for home mortgage financing with respect to those Members or Associate Members that are either a city or a county of the State of California, provide financing in connection with the improvement, construction, acquisition, creation, rehabilitation and preservation of affordable housing within the boundaries of the Members and Associate Members, and provide financing in accordance with the - provisions of applicable law in conmection with other projects and programs that are in the public interest and which benefit Members • and Associate Members including, without limitation, making loans to tax-exempt organizations from the proceeds of mortgage revenue bonds to finance the acquisition of multi-family rental housing, including•mobilehome parks, under the provisions of Chapter 8 of Part 5 of Division 31 (commencing with Section 52100) of the Health and Safety Code (the "Nonprofit Financing Law") or Chapter 1 of Part 2 of Division 24 (commencing with Section 34200) of the Health and Safety Code (the "Housing Authority Law"). This Agreement is also entered into by the Members in order to provide a forum for discussion and study of problems common to the Members and to assist in the development and implementation of solutions to such problems. Section 4. Subsection (d) of Article 6 of the Joint Powers Agreement, entitled "Powers of the Authority" is hereby amended in its entirety to read as follows: • (d) In addition to the other powers provided herein, the Authority shall have any and all powers authorized by law to each of the parties hereto and separately to the public entity herein • created relating to (i) economic development, including, without limitation, the promotion of opportunities for the creation and retention of employment, the stimulation of economic activity, and the increase of the tax base, within the jurisdictions of such parties; (ii) the issuance of bonds, notes or other evidences of indebtedness for the financing or refinancing of K-12 educational facilities to be utilized by a non-profit organization; (iii) the issuance of assessment - district bonds and bonds issued pursuant to the Mello-Roos Community Facilities Act of 1982, and the issuance of bonds as permitted under Chapter 1 of Part 2 of Division 24 (commencing with Section 34200) of the Health and Safety Code (the "Housing Authority Law"). Section 5. Article 12 of the Joint Powers Agreement is hereby amended in its entirety to read as follows: - (a) Principal Staff. The following staff members shall be appointed by and serve at the pleasure of the Board of Directors: • (1) Executive Director. Executive Director shall administer the affairs of the Authority, subject to the general supervision and policy direction of the Board and the Executive Committee; shall • coordinate the activities of all consultants and staff of the Authority; shall be responsible for required filings by the Authority with the State of California; shall prepare all meeting notices, minutes and required correspondence of the Authority and shall maintain the records of the Authority; shall assist Local Agencies in the preparing and filing of applications for participation in the financing programs of the Authority and shall expedite the • processing of such applications; and shall perform such other duties as are assigned by the Board and Executive Committee. (2) Treasurer. The duties of the Treasurer are set forth in Articles 13 and 14 of this Agreement. The Treasurer shall be appointed by the Board of Directors and shall be eligible to serve as Treasurer as provided in the.Joint Powers Law. (3) Auditor. The Auditor shall be a Certified Public Accountant licensed to practice in the State of California. The Auditor will conduct annual audits of the Authority. (b) Other Staff. The Board, Executive Committee or Executive Director shall provide for the appointment of such other staff as may be necessary for the administration 6f the Authority. • (c) Compensation. The Executive Director, the Treasurer, the Auditor and any other members of the staff or employees of the • Authority shall be compensated in such manner as shall be approved by the Board as permitted by applicable law. Section 6: Article No. 13 of the Joint Powers Agreement, entitled"Accounts and Records"is hereby amended in its entirety to read as follows: • . (a) Animal Budget. The Authority shall adopt an operating budget pursuant to Article 7 of this Agreement. The Treasurer, in cooperation with the Executive Director, shall prepare the annual or multi-year operating budget for review and approval by the Board of Directors as provided in Article 7 of this Agreement (b) Funds and Accounts. The Treasurer of the Authority or the Executive Director shall establish and maintain such funds and accounts as may be required by good accounting practices and by the Board. Books and records of the Authority in the hands of the Treasurer or Executive Director shall be open to inspection at all reasonable times by authorized representatives of the Members. • The Authority shall adhere to the standard of strict accountability for funds set forth in the Joint Powers Law. (a) Auditor's Report. The Auditor, within one hundred and twenty (120) days after the close of each Fiscal Year, shall give a complete written report of all financial activities for such Fiscal Year to the Board and to each Member. • (b) Annual Audit. If then required by the Joint Powers Law, the • Authority shall either make or contract with a certified public accountant to make an annual Fiscal Year audit of all accounts and records of the Authority, conforming in all respects with the requirements of the Joint Powers Law. A report of the audit shall be filed, if then required by law, as a public record with each of the • Members and with the county auditor of the county or counties in which each of the Members is located. Costs of the audit shall be considered a general expense of the Authority. Section 7. Article No. 14 of the Joint Powers Agreement, entitled"Responsibilities for Funds and Property" is hereby amended in its entirety to read as follows: (a) Custody of Authority Funds. The Treasurer shall have the custody of and disburse the Authority's funds. Proceeds of bonds, certificates of participation or other similar obligations of the Authority may be deposited with an indenture trustee, agent or other depositary and shall not be considered the Authority's funds for purposes of this Article. The Treasurer may delegate disbursing authority to such persons as may be authorized by the Board or the Executive Committee to perform that function, subject to the requirements of(b) below. (b) Duties of Treasurer. The Treasurer shall perform all • • functions then required to be performed by the Treasurer under the Joint Powers Law. The Treasurer shall review the financial statements and the annual audit of the Authority. (c) Authority Property. Pursuant to Government Code Section 6505.1, the Executive Director, the Treasurer, and such other persons as the Board may designate shall have charge of, handle, and have access to the property of the Authority. The Authority shall secure and pay for a fidelity bond or bonds, in an amount or amounts and in form specified by the Board of Directors, covering all officers and staff of the Authority who are authorized to hold or disburse funds of the Authority and all officers and staff who arc authorized to have charge of, handle and have access to property of the Authority. Section 8. Article No. 28 of the Joint Powers Agreement, entitled "Filing With Secretary of State" is hereby amended in its entirety to read as follows: Tie-Executive Director of the Authority shrill file a notice of this Agreement with the office of the .California Secretary of State within thirty `(30) days of its effective date, as required by Government Code Section 65035 and within seventy.i(70) days Of its effective ldate.as required by Government Code Section 53051. IN=WITNESS WHEREOF, the undersigned party hereto has,executed this Agreement on the date indicated'belvw. Dated: 2013: CITY OF By; • Its:: Seal: ATTEST:, C� /Tv �L�/J- 65054.00000\8208769:1 •