HomeMy Public PortalAbout2002.175 (12-03-02)RESOLUTION N0.2002.175
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD
APPROVING AMENDMENT N0.3 TO JOINT POWERS AGREEMENT
CREATING THE INDEPENDENT CITIES LEASE FINANCE AUTHORITY AND
PROVIDING OTFYER 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, and the encouragement and
promotion of other joint and cooperative endeavors among such public agencies for their
mutual benefit; and
WHEREAS, It is proposed to amend the Joint Powers Agreement to include
among its pur.poses the providing of 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 the providing of
financing in accordance with the provisions of applicable law in connection with other
projects and programs that are in the public interest and which benefit Members and
Associate Members including 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, and
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
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;~ 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 3 The City Council hereby approves
Amendment No 3 to 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 Joirit Powers Agreement.
Section 3. Effective Date This Resolution shall take effect from and after the
date of its passage and adoption
Section 4. The City Manager or his designee is authorized to carry out any
necessary transactions as so ordered by this resolution
PASSED, APPROVED, AND ADOPTED this 3~d day of December, 2002
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FERNANDO PEDROZA, MAYOR
ATTEST
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ANDREA L HOOPER, CITY LERK
APPROVED AS TO FORM
MICHAEL MOf~77GOMERY,
CITY ATTORNEY
APPROVED AS TO CONTENT
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FAUS, N GONZA ES,
CITY MANAGER
STATE OF CALIFORNIA }
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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
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Lynwood at a regular meeting held on the 3~d day of December, 2002
AYES COUNCILMEN BYRD, REYES, RICHARDS, RODRIGUEZ, PEDROZA
NOES NONE
ABSENT NONE
ABSTAIN NONE
C~~:~~~~ , , ~ , ~
ANDREA L HOOPER, CITY CLERK
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 2002.175
on file in my office and that said Resolution was adopted on the date and by the vote
therein stated
Dated this 3~d day of December, 2002
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ANDREA L HOOPER, CITY CLERK