HomeMy Public PortalAboutRES-CC-1992-16RESOLUTION NO. 16-92
RESOLUTION OF THE GOVERNING BODY OF MOAB
UTAH (THE "MEMBER") WITHDRAWING ITS MEMBERSHIP IN THE UTAH
MUNICIPAL FINANCE COOPERATIVE; AND RELATED MATTERS.
WHEREAS, on or prior to July 1, 1986, certain cities, towns and
districts of various kinds (the "Original Members") created the Utah
Municipal Finance Cooperative (the "MFA"), a separate legal entity and
political subdivision, pursuant to the provisions of the Interlocal
Co-operation Act, Title 11, Chapter 13, Utah Code Annotated 1953, as
amended, through the approval and execution of a Utah Municipal Finance
Cooperative Agreement dated as of June 1, 1986 (the "1986 Agreement"); and
WHEREAS, on April 1, 1989, the Original Members adopted an Amended
and Restated Agreement (collectively with the 1986 Agreement, the
"Original Agreement") to amend and restate the 1986 Agreement to, among
other things (i) allow additional members to join MFA, (ii) clarify the
governance provisions of MFA and (iii) provide for the withdrawal of
members; and
WHEREAS, the purposes for which MFA was established and created
have been substantially completed to the satisfaction of the Original
Members; and
WHEREAS, the Original Agreement provides the Members of MFA can
withdraw from membership in MFA pursuant to action taken by such Member's
governing body, provided that such withdrawing Member has no outstanding
payment obligation to MFA as a result of having borrowed, purchased, or
leased property from MFA; and
WHEREAS, the Member has no outstanding payment obligation to MFA and
has not borrowed, purchased, or leased property from MFA; and
WHEREAS, the Member now desires to withdraw its membership in MFA
pursuant to the terms of this Resolution:
NOW, THEREFORE, BE IT RESOLVED BY THE GOVERNING BODY OF THE MEMBER
AS FOLLOWS:
Section 1. All actions not inconsistent with the provisions of this
Reyelution heretofore taken by the Member directed toward the withdrawal
from MFA membership are hereby ratified, approved and confirmed.
Section 2. The Governing Body of the Member hereby finds and
determines that there is no benefit in remaining a member of MFA and
hereby withdraws its membership in MFA and hereby authorizes and directs
the appropriate officers of the Member and of MFA to delete the Member
from the membership rosters thereof.
Section 3. A11 resolutions with respect to this transaction
heretofore adopted, or parts thereof, which are in conflict with any of
the provisions hereof are, to the extent of such conflict, hereby
repealed, except that this repeal shall not be construed to revive any
act, or resolution, or part thereof, heretofore repealed.
Section 4. Immediately after its adoption, this Resolution shall be
signed by the appropriate officers of the Member, shall be recorded in the
official records of the Member and shall take immediate effect. The
appropriate officers of the Member are further directed to deliver a fully
executed copy of this resolution to MFA.
PASSED AND APPROVED by the governing body of the Member, this jilt
day of September 1992.
By:
(SEAL)
Attest:
By:
Title: Mayor