CDC - 2006-03 - Joint Exercise of Powers Agreement0 6 0 •
RESOLUTION NO. 2006-03
RESOLUTION OF THE ROSEMEAD COMMUNITY
DEVELOPMENT COMMISSION AUTHORIZING THE
EXECUTION AND DELIVERY OF A JOINT EXERCISE
OF POWERS AGREEMENT WITH THE CITY OF
ROSEMEAD
WHEREAS, agencies formed under the Joint Exercise of Powers Act, Section 6500 et
seq. of the California Government Code (the "Joint Powers Act'), are permitted to provide
financing for any of their members or other local public agencies in the State of California in
connection with the acquisition, construction and improvement of public capital improvements
or working capital requirements of such members or other local agencies; and
WHEREAS, the City of Rosemead and the Rosemead Community Development
Commission (the "Commission") desire to form an Authority under the Joint Powers Act, to be
known as the Rosemead Financing Authority, for the purpose of providing an entity which can
assist in providing financing for purposes which are authorized under the Joint Powers Act; and
WHEREAS, there has been prepared and submitted to this meeting a form of Joint
Exercise of Powers Agreement (such Joint Exercise of Powers Agreement, in the form
presented to this meeting, with such changes, insertions and omissions as are made pursuant to
this Resolution, being referred to herein as the "Joint Powers Agreement');
NOW, THEREFORE, BE IT RESOLVED, by the members of the Rosemead Community
Development Commission, as follows:
Section 1. All of the recitals herein contained are true and correct and the Commission so
finds.
Section 2. The form of the Joint Powers Agreement, on file with the Secretary of the
Commission, is hereby approved, and the Chairman, the Executive Director and the Finance Director
of the Commission, and such other officers of the Commission as said Chairman, Executive Director
or Finance Director may designate (the "Authorized Officers"), are each hereby authorized and
directed, for and in the name and on behalf of the Commission, to execute and deliver the Joint
Powers Agreement in substantially said form with such changes therein as the Authorized Officer
executing the same may require or approve, such approval to be conclusively evidenced by the
execution and delivery thereof.
Section 3. The officers and employees of the Commission are hereby authorized and
directed, jointly and severally, to do any and all things which they may deem necessary or advisable
in order to consummate the transactions herein authorized and otherwise to carry out, give effect to
and comply with the terms and intent of this Resolution.
Section 4. All actions heretofore taken by the officers, employees and agents of the
Commission with respect to the transactions set forth above are hereby approved, confirmed and
ratified.
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Section 5., This Resolution shall take effect immediately upon its adoption.
PASSED AND ADOPTED by the members of the Rosemead Community Development
Commission at a meeting of said Commission on February 14, 2006, by the following vote of said
members:
Ayes:
Noes:
Absent:
Abstain:
ATTEST:
City Clerk
(SP-Q Ca r(' , la D(`I a ~n aoac,
Secretary of the Rosemead Commune y
Development Commission
ROSEMEAD COMMUNITY DEVELOPMENT
COMMISSION
By: ~Zw t ;4~2
Chairpers n
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STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) SS.
CITY OF ROSEMEAD )
I, Nina Castruita, Secretary of the Rosemead Community Development
Commission, do hereby certify that the foregoing Resolution No. 2006-03 being:
RESOLUTION OF THE ROSEMEAD COMMUNITY DEVELOPMENT
COMMISSION AUTHORIZING THE EXECUTION AND DELIVERY OF A JOINT
EXERCISE OF POWERS AGREEMENT WITH THE CITY OF ROSEMEAD
was duly and regularly approved and adopted by the Rosemead Community
Development Commission on the 14th of February 2006, by the following vote
to wit:
Yes: CLARK, IMPERIAL, NUNEZ, TAYLOR, TRAN
No: NONE
Absent: NONE
Abstain: NONE
~A-flaxjiyn
Nina Castruita
Secretary