CC Resolution 2007-060
RESOLUTION NO. 2007-060
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LA QUINTA,
CALIFORNIA, APPROVING, AUTHORIZING, AND DIRECTING
EXeCUTION OF A JOINT EXERCISE OF POWERS AGREEMENT
RELATING TO THE CALIFORNIA MUNICIPAL FINANCE AUTHORITY
WHEREAS, pursuant Chapter 5 of Division 7 of Title 1 of the
Government Code of the State of California (the "Act"), certain public agencies (the
"Members") have entered into a Joint Exercise of Powers Agreement, effective on
January 1, 2004 (the "Agreement") in order to form the California Municipal
Finance Authority (the "Authority"). for the purpose of promoting economic,
cultural amd community development, and in order to exercise any powers common
to the Members, including the issuance of bonds, notes or other evidences of
indebtedness; and
WHEREAS, the City of La Quinta (the "City"). has determined that it is
in the public interest and for the public benefit that the City become a Member of
the Authority in order to facilitate the promotion of economic, cultural and
community development activities in the City including the financing of projects
therefor by the Authority; and
WHEREAS, there is now before this City Council the form of the
Agreement; and
WHEREAS, the Agreement has been filed with the City, and the
members of the City Council, with the assistance of its staff, have reviewed said
document;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF tA QUINTA AS FOLLOWS;
Section 1. Th~ Agreement is hereby approved and the City.Manager or designee
thereof is hereby authorized and directed to execute said document, with such
changes, ,insertions and omissions as may be approved by the City Manager or City
Attorney, and the City Clerk is hereby authorized and directed to attest thereto.
Section 2. The City Manager or designee thereof, the Clerk and all other proper
officers and officials of the City are hereby authorized and directed to execute such
other agreements, documents and certificates, and to perform such other acts and
deeds, as: may be necessary or convenient to effect the purposes of this Resolution
and the t~ansactions herein authorized.
Resolution No. 2007-060
Joint Exercise of Powers Agreement - TEFRA
Adopted: July 3. 2007
Page 2
Section 3. The Clerk shall forward a certified copy of this Resolution and an
originally executed Agreement to the Authority in care of its counsel:
Harriet M. Welch, Esq.
Squire, Sanders & Dempsey LLP.
555 South Flower St., Suite 3100
Los Angeles, CA 90071
Section 4. This Resolution shall take effect immediately upon its passage.
PASSED, APPROVED, and ADOPTED by the La Quinta City Council at
a regular meeting of held on the 3rd day of July, 2007, by the following vote:
AYES: Council Members Henderson, Kirk, Osborne, Sniff, Mayor Adolph
NOES: None
ABSENT: None
ABSTAIN: None
~
VERONICA J. NTECINO, CMC, City Clerk
City of La Q mta, California
(CITY SEAL)
<:
Resc)lution Nd. 2007-060
Joint Exercis. of Powers Agreement - TEFRA
Adopted: July 3. 2007
Page 3
APPROVED AS TO FORM: