HomeMy Public PortalAbout98-127 (07-21-98)RESOLUTION NO. v8-t27
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD APPROVING
AMENDMENT NO. 1. TO JOINT POWERS AGREEMENT CREATING THE
INDEPENDENT CITIES. LEASE FINANCE AUTHORITY AND PROVIDING OTHER
MATTERS PROPERLY RELATING THERETO
WHEREAS, this City together with certain other Cities (collectively, the
"Members"), entered into the Joint Powers Agreement Creating the Independent
~; Cities Lease Finance Authority~(the "Joint Powers Agreement") for the purpose
of assisting public agencies to finance the acquisition, construction, installation
andlor equipping of public capital improvements and to encourage and promote
other joint and cooperative endeavors among such public agencies for their
mutual benefit;
WHEREAS, the Members desire to amend the Joint .Powers Agreement to
provide for the express purpose of the joint exercise of powers under part 5 of
Division 31 (commencing with Section 52000) of the California Health and Safety
Code, being the provisions of the Code which authorize the underi.aking of home
mortgage financing programs (a "Home .Mortgage Financing Program"); and
WHEREAS, the Members desire also to amend the Joint Powers Agreement to
provide for a new class of associate members (the "Associate Members") who
will be able. to participate in alt of the financing programs of the Authority,
including a Home Mortgage financing Program, but who will not be entitle to be
represented on the Board of Directors or be entitled to vote on any matter
coming before the Board of Directors or the Authority;
NOW, THEREFORE, BE /T RESOL VED by the City Council of the City of Lynwood,
California, as follows:
Section 1. Approval of~ Amendment No. 1. The City. Council hereby
approves amendment No. 1 to the Joint Powers Agreement Creating the
Independent Lease Finance Authority substantially in the form on file with the
City Clerk.
Section 2. Notice of Approval. The City Mayor is hereby directed to give
the Authority notice of such approvaV 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 2t day of .7u t,. , 1998.
A M~4ND0 REA, IVlayor
ATTEST:
~LG~~L_ ~
f
Andrea L. Hooper, Ci y Clerk
Faustin Gonzate '~~ onager
APPROVED AS TO FORM:
lI~?i, Get ~t
City Attorney
STATE OF CALIFORNIA )
ss.
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 day of ~u t ~ 2 i St , 1998, and
passed by the following vote:
AYES: Councilmember $yrd, Reyes Sanchez Rea
f
NOES; None
ABSENT: Councilmember Richard
9~
City Clerk, City of Lynwood
STATE OF CALIFORNIA )
ss.
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. _ _ vs-i t9 on file in my office and that said resolution was adopted on the date
and by the vote therein stated.
Dated this 2 i st day of Ju 1 y , 1998.
-~-
City Clerk, City of Lynwoo
c98-127