HomeMy Public PortalAbout2004-115 (07-06-04)RESOLUTION NO. ~
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD APPROVING
AMENDMENT NO.4 TO THE JOINT POWERS AGREEMENT CREATING THE
INDEPENDENT CITIES LEASE FINANCE AUTHORITY AND PROVIDING OTHER
MATTERS PROPERLY RELATING THERETO
WHEREAS, The City of Lynwood together with certain other cities of the State of
California (collectively, the "Members") entered into the Joint Powers Agreement Creating the
Independent Cities Lease Finance Authority (as heretofore amended, the "Joint Powers
Agreement"), establishing the independent Cities Lease Finance Authority (the "Authority") for
the purposes of assisting public agencies to finance the acquisition, construction, installation
and/or equipping of public capital improvements, the undertaking of home mortgage financing
programs with respect to Members and Associate Members ("Associate Members") of the
Authority; making loans to tax exempt organizations for the purchase of bonds to fund the
acquisition of multi-family residential housing including mobile home parks; and the
encouragement and promotion of other joint and cooperative endeavors among such public
agencies for their mutual benefit;
WHEREAS, It is proposed to amend the Joint Powers Agreement with regard to
process/procedures to: 1) clarify that public entities other than cities may participate as
members and associate members of the Authority; 2) change the cities that are used to limit the
Authority in its exercise of powers; 3) provide that member cities may appoint two alternate
Board Members; 4) provide for compensation of Board Members; 5) clarify that most Board
meetings are special meetings and that the President may call same; 6) clarify that elections of
Officers may take place at either annual or special meetings; 7) define the responsibilities of the
Auditor; 8) permit the adoption of multi-year budgets; 9) separate the responsibilities of the
Auditor and Treasurer; 10) provide that a majority of the Board may approve new members and
eliminates the requirement that cities pay dues to the Independent Cities Association in order to
maintain membership in the Authority; 11 ) further clarify that the Bylaws are the vehicle in which
operating procedures are established; and 12) provide that amendments to the Joint Powers
Agreement are considered effective when a majority of the members have approved them.
WHEREAS, The City Council has determined that it is appropriate and in the best
interests of the City to approve the proposed amendment to the Joint Powers Agreement.
NOW, THEREFORE, THE MAYOR AND CITY COUNCIL OF THE CITY OF
LYNWOOD DOES HEREBY FIND, PROCLAIM, ORDER, AND RESOLVE AS FOLLOWS:
Section 1. Approval of Amendment No. 4. The City Council hereby approves
Amendment No.4 to the Joint Powers Agreement Creating The Independent Cities Lease
Finance Authority in the form presented to this meeting and on file with the City Clerk.
Section 2. Notice of Approval. The Mayor of the City is hereby directed to give the
Authority notice of such approval in accordance with the notice requirements of Article 23 of the
Joint Powers Agreement.
Section 3. Effective Date. This Resolution shall take effect from and after the date of its
passage and adoption.
PASSED, APPROVED, AND ADOPTED this 6th day of July, 2004.
ATTEST:
ANDREA L. HOOPER, CITY CLERK
APPROVED AS TO FORM: APPROVED AS TO CONTENT:
t RNOLDO BELTRAN,
ITY ATTORNEY
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES
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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 6thday of Jul,Y2004.
AYES: COUNCILHEN
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE
PEDROZA,
RODIRGUEZ, SANTILLAN, VASQUEZ AND BYRD
STATE OF CALIFORNIA }
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COUNTY OF LOS ANGELES }
I, the undersigned, City Clerk of the City of Lynwood, do hereby certify that the
above and foregoing is a full, true and correct copy of Resolution No. 2004.115
on file in my office and that said Resolution was adopted on the date and by the vote
therein stated.
Dated this6th day of July, 2004.
ANDREA L. HOOPER, CITY CLERK