HomeMy WebLinkAboutResolution No. 87830 0
RESOLUTION NO. 8783
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
AZUSA AUTHORIZING FORMATION OF A JOINT POWERS
AUTHORITY WITH THE REDEVELOPMENT AGENCY OF THE
CITY OF AZUSA AND AUTHORIZING AND DIRECTING THE
APPOINTMENT OF UNDERWRITER AND BOND COUNSEL FOR
PURPOSES OF CERTAIN FINANCINGS PROPOSED TO BE
UNDERTAKEN BY THE AUTHORITY.
WHEREAS, the City of Azusa (the "City") is considering proceedings for
the acquisition, construction and equipping of certain property to be used for
municipal purposes of the City and proceedings for the refinancing of certain
outstanding indebtedness or Certificates of Participation of the City and in
connection with such proceedings the Redevelopment Agency of the City of Azusa
(the "Agency") and the City propose to form a joint powers authority pursuant to
Article 1 of Chapter 5 of Division 7 of Title 1 of the Government Code of the
State of California in order that such authority may, in connection with such
proceedings, exercise the powers authorized under the Marks -Roos Local Bond
Pooling Act of 1985 (Government Code 6584, et sem) and, in addition, exercise
such powers of cooperation with future proceedings of such nature undertaken by
the Agency or the City;
WHEREAS, Chilton & O'Connor, Inc., as underwriter (the
"Underwriter"), and Burke, Williams, Sorensen & Gaar, as bond counsel (the "Bond
Counsel"), have both presented to the City Council forms of agreements for the
purposes of providing underwriting services and legal services, respectively, in
connection with the financial proceedings proposed to be undertaken by such
authority, and the City Council, with the aid of its staff, has reviewed each of
such agreements and the execution of such agreements is in the public interest of
the City, the Agency and such Joint Powers Authority:
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City
of Azusa as follows:
Section 1. Formation of Joint Powers Authority. The City Council
hereby authorizes the officers and staff members of the City to assist in the
organization of a joint powers authority between the City and the Agency, to be
known as the Azusa Public Financing Authority. The City Council hereby
approves and authorizes the Mayor to execute and the City Clerk to attest the
Joint Powers Agreement forming said joint powers authority, in substantially the
form on file with the City Clerk together with any changes therein deemed
advisable by the City Attorney.
Section 2. Official Actions. The Mayor, City Administrator,
Director of Finance and City Clerk of the City, and any other officers of the City,
are hereby authorized and directed to take all actions and do all things necessary
or desirable hereunder with respect to the formation of said joint powers
authority, including but not limited to the execution and delivery of any and all
agreements, certificates, instruments and other documents, which they, or any of
them, may deem necessary or desirable and not inconsistent with the purposes of
this resolution.
Section 3. Appointment of Underwriter and Bond Counsel. The
appointment of Chilton & O'Connor, Inc., as Underwriter and Burke, Williams,
Sorensen & Gaar, as Bond Counsel for purposes of the financings proposed to be
undertaken by the Azusa Public Financing Authority is hereby approved, and the
City Administrator or Interim City Administrator is hereby authorized and
directed to execute, on behalf of the City and such Authority, the respective
agreements of Underwriter and Bond Counsel, substantially in the forms presented
to the Council at this meeting.
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Section 4. Effective Date. This Resolution shall take effect from
and after the date of its passage and adoption.
PASSED, APPROVED AND ADOPTED this 2nd day of January ,
1990.
CITY OF AZUSA, CALIFORNIA
440g, ,r 2�
ATTEST:
b
City Clerk
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 2nd
day of January , 1990, by the following vote of the City Council:
AYES: COUNCILMEMBERS AVILA, ST=CH, NARANJO, LATPA, MOSES
NOES: COUNCILMEMBERS NONE:
ABSENT: COUNCILMEMBERS NONE
ity C erk
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