HomeMy WebLinkAboutResolution No. 97-P1RESOLUTION NO. 97-P1
A RESOLUTION OF THE AZUSA
ACCEPTING THE RESIGNATIONS
ELECTING NEW DIRECTORS OF
CORPORATION
PUBLIC FINANCING AUTHORITY
OF CERTAIN DIRECTORS AND
AZUSA PUBLIC IMPROVEMENT
WHEREAS, the City of Azusa (the "City") and the Redevelopment Agency of the City
have entered into a Joint Powers Agreement dated January 2, 1990, establishing the Azusa Public
Financing authority (the "Authority"); and
WHEREAS, the Authority is the sole member of Azusa Public Improvement Corporation,
a nonprofit public benefit corporation ("Improvement Corporation"); and
WHEREAS, Anthony Naranjo and Cristina Cruz -Madrid, directors of the Improvement
Corporation, has proffered their resignations;
NOW, THEREFORE, the Board of Directors of the Authority does hereby resolve,
determine and order:
Section 1. Resignation and Election of Directors.
RESOLVED, that the resignation of Anthony Naranjo as a Director of Improvement
Corporation be and hereby is accepted and approved effective immediately.
RESOLVED, that to fill he vacancy created by the resignation of Anthony Naranjo, Dick
Stanford be and hereby is elected as a Director of Improvement Corporation, with his term of office
to commence immediately and to continue until his successor is duly elected and qualified or until
his earlier resignation or removal.
RESOLVED, that the resignation of Cristina Cruz -Madrid as Director of Improvement
Corporation be and hereby is accepted and approved effective immediately.
RESOLVED, that to fill the vacancy created by the resignation of Cristina Cruz -Madrid,
Joseph Rocha be and hereby is elected as a Director of Improvement Corporation, with his term
of office to commence immediately and to continue until his successor is duly elected and qualified
or until his earlier resignation or removal.
Section 2. Further Steps.
RESOLVED FURTHER, that any and all proper officers to the Authority, and each of
them, be and hereby are authorized, empowered and directed to execute any and all documents,
instruments or papers and to take any or all steps or actions which may be necessary or appropriate
to carry out the interest of the foregoing Resolution and the transactions contemplated thereby.
Section 3. Effective Date.
This Resolution shall take effect from and after the date of its passage and adoption.
PASSED, APPROVED AND ADOPTED THIS 7th DAY OF APRIL, 1997.
Cristil6a Cruz -Madrid, Chairperson
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Resolution No. 97-P1
Page 2 of 2
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I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the City Council
of the City of Azusa at a regular meeting thereof, held on the 7th day of 1997, by the following
vote of the Council:
AYES:
DIRECTOR:
NOES:
DIRECTOR:
ABSTAIN:
DIRECTOR:
ABSENT:
DIRECTOR:
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Adolph A//Solis, Secretary
HARDISON, STANFORD, ROCHA, BEEBE, MADRID
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