CC Resolution 2009-077RESOLUTION NO. 2009 - 077
A RESOLUTION OF THE CITY OF LA QUINTA
APPROVING A FINANCING AGREEMENT AMONG THE
CITY, THE LA QUINTA REDEVELOPMENT AGENCY, AND
THE LA QUINTA HOUSING AUTHORITY FOR THE
PROVISION OF FINANCIAL ASSISTANCE TO THE
HOUSING AUTHORITY
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
WHEREAS, the City desires to provide financial assistance to the Housing
Authority by making periodic advances of funds in order to finance the operations
of the Housing Authority; and
WHEREAS, City, La Quinta Redevelopment Agency ("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 City Council of the City of La Quinta 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 City Manager 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 City.
SECTION 3. The City Clerk shall certify to the adoption of this Resolution.
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Resolution No. 2009-077
Housing Authorhy Financing Agreement
Adopted: October 6, 2009
Page 2
PASSED, APPROVED and ADOPTED at a regular meeting of the City Council
of the City of La Quinta held this 6t" day of October 2009.
AYES: Council Members Evans, Franklin, Henderson, Sniff, Mayor Adolph
NOES: None
ABSENT: None
ABSTAIN: None
V~
DON ADOL H, Ma
City of La Quinta, California
ATTEST:
VERONICA J~IONTE
City of, La Quinta, Cal
(City Se
NO, CMC, City Clerk
APPROVED AS TO FORM:
~IVL KATHIERINE JE
City of La Quinta,
all