RDA Resolution 2009-007RESOLUTION NO. RA 2009-007
A RESOLUTION OF THE LA QUINTA REDEVELOPMENT
AGENCY APPROVING A FINANCING AGREEMENT
AMONG THE AGENCY, THE CITY OF LA QUINTA, AND
THE LA QUINTA HOUSING AUTHORITY FOR THE
PROVISION OF FINANCIAL ASSISTANCE TO THE
HOUSING AUTHORITY
WHEREAS, the La Quinta Redevelopment Agency ("Agency") is a public
body, corporate and politic, organized and existing under the California Community
Redevelopment Law (Health & Safety Code § 33000 et seq.); and
WHEREAS, the City Council of the City of La Quinta ("City" or "City
Council," as applicable) has established the La Quinta Housing Authority (the
"Housing Authority") to function in the City of La Quinta in accordance with the
California Housing Authorities Law (Health and Safety Code Section 34200 et
seq.); and
WHEREAS, the Housing Authority presently has no funds with which to
carry out its purposes; and
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WHEREAS, the Agency desires to provide financial assistance,to the~Htiusing
Authority by making periodic advances of funds in order to finahce the operations
of the Housing Authority; and ~ '
WHEREAS, City, Agency, and Housing Authority staff have prepared a
Financing Agreement pursuant to which the City and Agency.could make such
periodic advances of funds (the "Financing Agreement"). - -
NOW, THEREFORE, the Agency Board of Directors does hereby resolve as
follows:
SECTION 1. The Financing Agreement, a copy of which is on file with the City
Clerk, is hereby approved.
SECTION 2. The Agency's Executive Director is authorized and directed to execute
the Financing Agreement and to take such other actions and execute such other
documents as may be necessary to implement and effect this Resolution and the
Financing Agreement on behalf of the Agency.
SECTION 3. The Agency Secretary shall certify to the adoption of this Resolution.
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Resolution No. RA 2009-007
Housing Authority Financing Agreement
Adopted: October 6, 2009
Page 2
PASSED, APPROVED and ADOPTED at a regular meeting of the La Quinta
Redevelopment Agency held this 6`" day of October 2009.
AYES: Agency Members Adolph, Evans, Henderson, Sniff, Chair Franklin
NOES: None
ABSENT: None
ABSTAIN: None
~-
KRISbY FRAtNKLIN, Agency Chairperson
La Quinta Redevelopment Agency
ATTEST:
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La Quinta--Redevelopr
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(AGENCY-SEAL) ;'
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J, Secretary
Agency
APPROVED AS TO FORM:
M. 4C!{(THE~iINE JEN$O~Agency Co
La Quinta Redevelo ent Agency