HA Resolution 2009-002RESOLUTION NO. HA 2009 - 002
A RESOLUTION OF THE LA QUINTA HOUSING
AUTHORITY APPROVING A FINANCING AGREEMENT
AMONG THE HOUSING AUTHORITY, THE CITY OF
LA QUINTA, AND THE LA QUINTA REDEVELOPMENT
AGENCY 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 Housing Authority desires to obtain financial assistance frorn,
the City and the La Quinta Redevelopment Agency ("Agency") in order to finance%
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 Governing Board of the La Quinta Housing Authority
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 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 affect this Resolution and the
Financing Agreement on behalf of the Housing Authority.
SECTION 3. The Secretary shall certify to the adoption of this Resolution.
PASSED, APPROVED and ADOPTED at a regular meeting of the Governing
Board of the La Quinta Housing Authority held this 6`" day of October 2009.
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Resolution No. HA 2009-002
Financing Agreement among City, RDA and HA
Adopted: October 6, 2009
Page 2
AYES: Board Members Adolph, Franklin, Henderson, Sniff, Chairperson Evans
NOES: None
ABSENT: None
ABSTAIN: None
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_ ~~ ~~~
LINDA EVANS, Chairperson
La Quinta Housing Authority
ATTEST:
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VEiiONICA" . N
:,!SEAL-)
~.
)NTECINO, Secretary
g Authority
APPROVED AS TO FORM:
M. I' A HERINE JEN O eneral Counsel
La Quinta Housing Authority