HomeMy WebLinkAboutResolution No. 98-C1250
RESOLUTION NO. 98-C125
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF AZUSA APPROVING
ASSOCIATE MEMBERSHIP AGREEMENT WITH THE INDEPENDENT CITIES LEASE
FINANCE AUTHORITY AND PROVIDING OTHER MATTERS PROPERLY RELATING
THERETO
WHEREAS, certain cities of the State of California (collectively, the "Members") have entered
into a Joint Powers Agreement Creating the Independent Cities Lease Finance Authority (the "Joint
Powers Agreement'), establishing the Authority and prescribing its purposes and powers, as amended by
an Amendment No. I thereto providing, among other things, for associate members of the Authority (an
"Associate Member");
WHEREAS, the Authority has been formed for the purpose, among others, of assisting its
Members and Associate Members in the participation in Home Mortgage Financing Programs (as defined
in the Joint Powers Agreement) and in financing the acquisition, construction, improvements and/or
equipping of public capital improvements; and
WHEREAS, the City of Azusa desires to become and Associate Member of the Authority as
provided in the Associate Membership Agreement, in the form on file with the City Clerk;
NOW THEREFORE, BE IT RESOLVED, by the City Council of the City of Azusa, California,
as follows:
SECTION 1. Approval of Associate Membership Agreement. The City Council hereby
approves and authorizes the Mayor to execute and the City Clerk to attest the Associate Membership
Agreement and amendment number one pursuant to which the City shall become an Associate Member of
the Independent Cities Lease Finance Authority forming the Authority, in substantially the form on file
with City Clerk.
SECTION 2. Official Actions. The City Manager, Finance Director, City Treasurer, City Clerk,
and City Attorney 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 Associate
Membership Agreement, including but not limited to the execution and delivery of any and all agreement,
certificates, instruments and other documents, which they, or any of them, may deem necessary of
desirable and not inconsistent with the purposes of this Resolution. The City attorney may make minor
modifications to the program documents as required in order to implement the Fresh Start Program.
SECTION 3. Effective Date. This Resolution shall take effect from and after the date of its
passage and a Qption.
PASSED, ,8P ROVED AND
Mayor
THIS2 0th day of July,1998
I HEREBY CERTIFY that the foregoing Resolution No. 98-C125 was duly adopted by the City
Council of the City of Azusa, at a regular meeting thereof, held on the20 day of July,_1998, by the
following vote of the City Council.
AYES:
CITY COUNCILMEMBERS
NOES:
CITY COUNCILMEMBERS
ABSENT:
CITY COUNCILMEMBERS
City
¢.WCLFAh ...t5.7.98
HARDISON, STANFORD,ROCHA, BEEBE, MADRID
NONE