FA Resolution 1988-01 393
LA QUINTA FINANCING AUTHORITY
RESOLUTION NO. FA88-1
RESOLUTION CONFIRMING THE ELECTION OF THE
CHAIRMAN AND THE VICE CHAIRMAN OF THE
GOVERNING BOARD OF THE LA QUINTA FINANCING
AUTHORITY; ESTABLISHING THE TIME AND PLACE OF
REGULAR MEETINGS OF THE AUTHORITY; APPOINTING
THE SECRETARY, TREASURER AND CONTROLLER,
RESPECTIVELY, OF THE AUTHORITY; ADOPTING THE
BYLAWS OF THE AUTHORITY; ADOPTING A CONFLICT
OF INTEREST CODE; AND RETAINING COUNSEL FOR
THE AUTHORITY
WHEREAS, the City of La Quinta (the "City") and the
La Quinta Redevelopment Agency (the "Agency") have heretofore
executed a Joint Exercise of Powers Agreement, dated as of
November S, 1988 (the "Agreement"), by and between the City and
the Agency, which Agreement creates and establishes the
La Quinta Financing Authority (the "Authority");
NOW, THEREFORE, BE IT RESOLVED by the Governing Board
of the La Quinta Financing Authority, as follows:
Section 1: Pursuant to Section 4(D) of the Agreement,
the Governing Board of the Authority has elected the following
persons to initially serve as Chairman and Vice Chairman
respectively, of the Authority:
John J. Pena, Chairman
Dale Bohnenberger, Vice Chairman
The term of office of the Chairman and Vice Chairman
shall be from the date hereof through the date of the first
regular meeting of the Authority in the calendar year 1989 or
394
thereafter; provided, that each such officer shall serve until
a successor has been duly elected.
Section 2. The regular meetings of the Authority
shall be held at 78-105 Calle Estado, La Quinta, California
92253, or such other place as the Governing Board of the
Authority may designate from time to time, at 7:30 P.M. on the
first Tuesday of the calendar month preceding the date on which
the Board expects the Authority to purchase any bonds or other
evidence of indebtedness.
Section 3. Pursuant to Section 4(D) of the Agreement,
the Secretary of the Agency is hereby appointed Secretary of
the Authority.
Section 4. Pursuant to Section 4(D) of the Agreement,
the Treasurer of the City is hereby appointed as the Treasurer
and Controller of the Authority.
Section 5. Pursuant to Section 4(D)(7) of the
Agreement, the City Attorney of the City is hereby retained as
counsel to the Authority.
Section 6. Whenever an officer of the Agency or the
City is designated an officer of the Authority, the assistants
and deputies of such officer from time to time shall also be,
ex officio, officers of the Authority; and whenever a power is
granted to, or a duty imposed upon, such officer, the power may
be exercised, or the duty performed, by such assistant or
deputy.
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RESOLUTION NO. FA 88-1
~ection 7. Pursuant to Section 12 of the Agreement,
the Conflict of Interest Code of the City, attached hereto as
Exhibit B and incorporated by reference as if fully set forth
herein, is hereby adopted as the Conflict of Interest Code of
the Authority.
Section 8. The Board hereby determines that an audit
shall be caused to be performed every year by the Treasurer and
Controller of the Authority as provided by Section 6505 of the
Government Code of the State of California. Such audit shall
be filed with the Secretary of the Authority.
Section 9. This resolution shall take effect from and
after its adoption.
PASSES AND ADOPTED on December 2/1, 1988, by the
following vote:
AYES: Mr. Bohnenberger, Mrs. Bosworth, Mr. Rushworth, Mr. Sniff
Chairman Pena
NOES: None
ABSENT: None ~
Cha La Quinta
Financing Authority
At t:
e La Quinta
APPROVED AS TO FORM:
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SECRETARY'S CERTIFICATE
I, SAUNDRA JUHOLA, Secretary of the La Quinta
Financing Authority, do hereby certify as follows:
The foregoing resolution is a full, true and correct
copy of a resolution duly adopted by a vote of a majority ofthe
members of the Governing Board of said Authority at the first
regular meeting of the Governing Board of said Authority duly
and regularly and legally held at 78-105 Calle Estado,
La Quinta, California, on December20 , 1988, of which meeting
all of such members had due notice, as follows:
AYES: Mr. Bohnenberger, Mrs. Bosworth, Mr. Rushworth, Mr. Sniff
Chairman Pena
NOES: None
ABSENT: None
An agenda of said meeting was posted at least 72 hours
before said meeting at 78-105 Calle Estado, La Quinta,
California, a location freely accessible to members of the
public, and a brief description of said resolution appeared on
said agenda.
Said resolution has not been amended, modified or
rescinded since the date of its adoption and the same is now in
full force and effect.
Dated: December 2Q , 1988.
· g ut o 'ty
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