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2014 04 15 SAAgendas and staff reports are now available on the City's web page: www.la-guinta.o SUCCESSOR AGENCY To The La Quinta Redevelopment Agency AGENDA CITY HALL COUNCIL CHAMBERS 78-495 Calle Tampico, La Quinta REGULAR MEETING ON TUESDAY, APRIL 15, 2014 AT 4:00 P.M. CALL TO ORDER ROLL CALL: Agency Members: Evans, Franklin, Henderson, Osborne, Chairperson Adolph CLOSED SESSION - NONE PUBLIC COMMENT At this time, members of the public may address the Successor Agency on any matter not listed on the agenda. Please complete a "request to speak" form and limit your comments to three minutes. The Successor Agency values your comments; however in accordance with State law, no action shall be taken on any item not appearing on the agenda unless it is an emergency item authorized by GC 54954.2(b). CONFIRMATION OF AGENDA PRESENTATIONS — NONE WRITTEN COMMUNICATIONS — NONE APPROVAL OF MINUTES MINUTES OF MARCH 18, 2014 PAGE 4 SUCCESSOR AGENCY TO RDA AGENDA APRIL 15, 2014 PAGE CONSENT CALENDAR NOTE: Consent Calendar items are routine in nature and can be approved by one motion. 1 RECEIVE AND FILE TREASURER'S REPORT DATED JANUARY 6 31, 2014 2. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORTS 8 DATED JANUARY 31, 2014 DEPARTMENT REPORTS - NONE BUSINESS SESSION 1 ADOPT RESOLUTION APPROVING BYLAWS AND RULES OF 16 PROCEDURE [RESOLUTION SA 2014-0051 STUDY SESSION - NONE ADJOURNMENT For information regarding the date of the next meeting of the City as Successor Agency to the La Quinta Redevelopment Agency, please contact the City Clerk's Office at 760-777-7000. DECLARATION OF POSTING 1, Susan Maysels, Agency Secretary of the City as Successor Agency to the La Quinta Redevelopment Agency, do hereby declare that the foregoing agenda was posted near the entrance to the Council Chambers at 78-495 Calle Tampico and on the bulletin boards at the La Quinta Cove Post Office at 51-321 Avenida Bermudas and at the Stater Brothers Supermarket at 78-630 Highway 111 , on April 11 , 2014. DATED: April 11, 2014 SUSAN MAYSELS, Agency Secretary Successor Agency to the La Quinta Redevelopment Agency SUCCESSOR AGENCY TO RDA AGENDA 2 APRIL 15, 2014 Public Notices The La Quinta City Council Chamber is handicapped accessible. If special equipment is needed for the hearing impaired, please call the City Clerk's Office at 777-7103, twenty-four (24) hours in advance of the meeting and accommodations will be made. If special electronic equipment is needed to make presentations to the Successor Agency, arrangement should be made in advance by contacting the City Clerk's Office at 777-7103. A one (1) week notice is required. If background material is to be presented to the Successor Agency during a meeting, please be advised that eight (8) copies of all documents, exhibits, etc., must be supplied to the City Clerk for distribution. It is requested that this take place prior to the beginning of the meeting. Any writings or documents provided to a majority of the Successor Agency regarding any item on this agenda will be made available for public inspection at the City Clerk counter at City Hall located at 78-495 Calle Tampico, La Quinta, California, 92253, during normal business hours. SUCCESSOR AGENCY TO RDA AGENDA 3 APRIL 15, 2014 SUCCESSOR AGENCY TO THE LA QUINTA REDEVELOPMENT AGENCY MINUTES TUESDAY, MARCH 18, 2014 A regular meeting of the La Quinta City Council in their capacity as Successor Agency to the La Quinta Redevelopment Agency ("SA") was called to order at 7:09 p.m. by Chairperson Adolph. PRESENT: Agency Members Evans, Franklin, Henderson, Osborne, Chair Adolph ABSENT: None CLOSED SESSION - None PUBLIC COMMENT - None CONFIRMATION OF AGENDA - Confirmed PRESENTATIONS - None WRITTEN COMMUNICATIONS - None APPROVAL OF MINUTES MOTION - A motion was made and seconded by Agency Members Evans/Franklin to approve the minutes of March 4, 2014 as submitted. Motion passed unanimously. CONSENT CALENDAR 1 . APPROVE DEMAND REGISTER DATED MARCH 18, 2014 2. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORTS DATED DECEMBER 31, 2013 3. RECEIVE AND FILE TREASURER'S REPORT DATED DECEMBER 31, 2013 4. ADOPT RESOLUTION FOR EXTENSION OF THE JOINT EXERCISE OF POWERS AGREEMENT THAT ESTABLISHED THE FINANCING AUTHORITY [RESOLUTION SA 2014-0031 CITY AS SUCCESSOR AGENCY TO RDA 1 MARCH 4, 2014 4 MOTION - A motion was made and seconded by Agency Members Franklin/ Henderson to approve the Consent Calendar as recommended with Item No. 4 adopting Resolution No. SA 2014-003. Motion passed unanimously. DEPARTMENT REPORTS 1 . OVERSIGHT BOARD REPORT Executive Director Spevacek provided an update on Oversight Board activities. BUSINESS SESSION ADOPT RESOLUTION APPROVING ISSUANCE AND SALE OF SUBORDINATE TAX ALLOCATION REFUNDING BONDS [RESOLUTION SA 2014-0041 MOTION - A motion was made and seconded by Agency Members Osborne/Evans adopting Resolution No. SA 2014-004 entitled: RESOLUTION OF THE SUCCESSOR AGENCY TO THE LA QUINTA REDEVELOPMENT AGENCY AUTHORIZING THE ISSUANCE AND SALE OF TAX ALLOCATION REFUNDING BONDS, APPROVING THE FORM OF AN INDENTURE OF TRUST, OFFICIAL STATEMENT, BOND PURCHASE CONTRACT, CONTINUING DISCLOSURE AGREEMENT, FORM OF ESCROW AGREEMENT, AND RELATED DOCUMENTS AND AUTHORIZING CERTAIN OTHER ACTIONS IN CONNECTION THEREWITH Motion passed unanimously. STUDY SESSION - None ADJOURNMENT There being no further business, it was moved and seconded by Agency Members Franklin/Evans to adjourn at 7:11 p.m. Motion passed unanimously. Respectfully submitted, SUSAN MAYSELS, Agency Secretary Successor Agency to the dissolved La Quinta Redevelopment Agency CITY AS SUCCESSOR AGENCY TO RDA 2 MARCH 4, 2014 5 OF CITY / W/ HA / FA MEETING DATE: April 15, 2014 AGENDA CATEGORY: ITEM TITLE: RECEIVE AND FILE TREASURER'S REPORT BUSINESS SESSION: DATED JANUARY 31, 2014 CONSENT CALENDAR: STUDY SESSION: PUBLIC HEARING: RECOMMENDED ACTION: Receive and file. FISCAL IMPACT: None. BACKGROUND/ANALYSIS: Per City Investment Policy, the Treasurer's Report is presented on a monthly basis and reflects monthly cash balances, investment activities, and the portfolio performance. The City pools all cash and investments. Therefore, a separate report for each reporting entity is not issued. The combined report for all entities is presented in the City Council's consent item staff report. ALTERNATIVES: None. Report prepared by: Patrick Griffin, Interim Finance Director Report approved for submission by: Frank J. Spevacek, City Manager 6 OF CITY /FSA] / HA / FA MEETING DATE: April 15, 2014 AGENDA CATEGORY: ITEM TITLE: RECEIVE AND FILE REVENUE AND BUSINESS SESSION: EXPENDITURE REPORTS DATED JANUARY 31, 2014 CONSENT CALENDAR: STUDY SESSION: PUBLIC HEARING: RECOMMENDED ACTION: Receive and file. EXECUTIVE SUMMARY: Revenue and expenditure reports are submitted monthly to the Successor Agency to the La Quinta Redevelopment Agency for review. The reports summarize year-to-date revenues and expenditures of the Successor Agency. FISCAL IMPACT: None. BACKGROUNDANALYSIS: Revenue and expenditure reports are submitted to the Successor Agency Board monthly to review, receive, and file. The January 31, 2014 Statements of Revenues and Expenditures for the Successor Agency to the La Quinta Redevelopment Agency are attached (Attachments 1 and 2). As of January 31, 2014, actual revenues collected were $4.3 million and actual expenditures, $7.5 million. Budgeted revenues are based on estimates listed on the Recognized Obligation Payment Schedule, with collections being received in January and June of each year. The payment from the County of Riverside for January was $4.0 million. Expenditures represent the bond interest payments made in September, which 8 totaled $6.6 million. Since the expenditures exceed revenues for this period, the expenditures are funded through Successor Agency fund balances, which are derived from revenue received from the prior period. ALTERNATIVES: None. Report prepared by: Patrick Griffin, Interim Finance Director Report approved for submission by: Frank J. Spevacek, City Manager Attachments: 1 . Revenue Reports for January 31, 2014 2. Expenditure Reports for January 31, 2014 ATTACHMENT 1 SUCCESSOR AGENCY TO THE LA QUINTA REDEVELOPMENT AGENCY REVENUE SUMMARY PROJECT AREA NO. 1: LOW/MODERATE TAX FUND: County of Riverside Allocated Interest Non Allocated Interest Miscellaneous revenue Non Allocated Interest Transfer In TOTAL LOW/MOD TAX DEBT SERVICE FUND: County of Riverside Allocated Interest Non Allocated Interest Transfers In TOTAL DEBT SERVICE CAPITAL IMPROVEMENT FUND Pooled Cash Allocated Interest Non Allocated Interest Developer Agreement Funding Sale of Land Proceeds Rental Income Litigation Proceeds Transfers In TOTAL CAPITAL IMPROVEMENT 07/01/2013 - 01/31/2014 ADJUSTED REMAINING % BUDGET RECEIVED BUDGET RECEIVED 0.00 0.00 0.00 0.000% 0.00 (1.14) 1.14 0.000% 0.00 2,021.73 (2,021.73) 0.000% 0.00 0.00 0.00 0.000% 0.00 0.00 0.00 0.000% 0.00 0.00 0.00 0.000% 0.00 2,020.59 (2,020.59) 0.000% 0.00 0.00 0.00 0.000% 0.00 (0.04) 0.04 0.000% 0.00 0.00 0.00 0.000% 0.00 0.00 0.00 0.000% 0.00 (0.04) 0.04 0.000% 0.00 0.00 0.00 0.000% 0.00 2,177.49 (2,177.49) 0.000% 0.00 0.00 0.00 0.000% 0.00 0.00 0.00 0.000% 0.00 0.00 0.00 0.000% 0.00 0.00 0.00 0.000% 0.00 0.00 0.00 0.000% 0.00 2,177.49 (2,177.49) 0.000% 2011 TAXABLE HOUSING BOND FUND: (249) Pooled Cash Allocated Interest 0.00 0.00 0.00 0.000% Non Allocated Interest 0.00 6,535.70 (6,535.70) 0.000% Developer Agreement Funding 0.00 0.00 0.00 0.000% Sale of Land Proceeds 0.00 0.00 0.00 0.000% Rental Income 0.00 0.00 0.00 0.000% Litigation Proceeds 0.00 0.00 0.00 0.000% Transfers In 0.00 0.00 0.00 0.000% TOTAL 2011 TAXABLE HOUSING BOND 0.00 6,535.70 (6,535.70) 0.000% TOTAL SUCCESSOR AGENCY - PA 1 0.00 10,733.74 (10,733.74) 0.000% 10 SUCCESSOR AGENCY TO THE 07/01/2013 - 01/31/2014 LA QUINTA REDEVELOPMENT AGENCY ADJUSTED REMAINING % REVENUE SUMMARY BUDGET RECEIVED BUDGET RECEIVED PROJECT AREA NO. 2: LOW/MODERATE TAX FUND: County of Riverside 0.00 0.00 0.00 0.000% Allocated Interest 0.00 (2.33) 2.33 0.000% Non Allocated Interest 0.00 0.00 0.00 0.000% Transfer In 0.00 0.00 0.00 0.000% TOTAL LOW/MOD TAX 0.00 (2.33) 2.33 0.000% 2004 LOWIMODERATE BOND FUND: Allocated Interest 0.00 0.00 0.00 0.000% Home Sale Proceeds 0.00 0.00 0.00 0.000% Non Allocated Interest 0.00 566.48 (566.48) 0.000% Transfer In 0.00 0.00 0.00 0.000% TOTAL LOW/MOD BOND 0.00 566.48 (566.48) 0.000% DEBT SERVICE FUND: County of Riverside 0.00 0.00 0.00 0.000% Allocated Interest 0.00 0.00 0.00 0.000% Non Allocated Interest 0.00 464.10 (464.10) 0.000% Interest Advance Proceeds 0.00 0.00 0.00 0.000% Transfer In 0.00 0.00 0.00 0.000% TOTAL DEBT SERVICE 0.00 464.10 (464.10) 0.000% 2011 TAXABLE NON -HOUSING BOND FUND: (417) Pooled Cash Allocated Interest 0.00 0.00 0.00 0.000% Non Allocated Interest 0.00 646.11 (646.11) 0.000% Developer Agreement Funding 0.00 0.00 0.00 0.000% Sale of Land Proceeds 0.00 0.00 0.00 0.000% Rental Income 0.00 0.00 0.00 0.000% Litigation Proceeds 0.00 0.00 0.00 0.000% Transfers In 0.00 0.00 0.00 0.000% TOTAL 2011 TAXABLE NON -HOUSING BOND 0.00 646.11 (646.11) 0.000% TOTAL SUCCESSOR AGENCY - PA 2 0.00 1,674.36 (1,674.36) 0.000% TOTAL SUCCESSOR AGENCY 19,902,600.00 4,277,730.79 15,624,869.21 21.493% 11 07/01/2013 - 01/31/2014 SUCCESSOR AGENCY ADJUSTED REMAINING % REVENUE SUMMARY BUDGET RECEIVED BUDGET RECEIVED PROJECT AREA NO. I Admin (237) County of Riverside 579,200.00 290,520.00 288,680.00 50.160% Pooled Cash Allocated Interest 2,000.00 0.00 2,000.00 0.000% Non Allocated Interest 0.00 0.00 0.00 0.000% Transfers In 0.00 0.00 0.00 0.000% TOTAL PA 1 581,200.00 290,520.00 290,680.00 49.990% TOTAL SUCCESSOR AGENCY - ADMIN 581,200.00 290,520.00 290,680.00 49.990% PROJECT AREA NO. I Project (231) County of Riverside 19,308,200.00 3,955,487.00 15,352,713.00 20.490% Pooled Cash Allocated Interest 13,200.00 (659.22) 13,859.22 -4.990% Non Allocated Interest 0.00 19,974.91 (19,974.91) 0.000% Transfers In 0.00 0.00 0.00 0.000% TOTAL PA 1 19,321,400.00 3,974,802.69 15,346,597.31 20.570% TOTAL SUCCESSOR AGENCY - PROGRAM 19,321,400.00 3,974,802.69 15,346,597.31 20.570% TOTAL SUCCESSOR AGENCY 19,902,600.00 4,265,322.69 15,637,277.31 21.430% 12 ATTACHMENT 2 SUCCESSOR AGENCY TO THE MID -YEAR ADJUSTED 1/3112014 REMAINING LA QUINTA REDEVELOPMENT AGENCY BUDGET REQUESTS BUDGET EXPENDITURES ENCUMBERED BUDGET EXPENDITURE SUMMARY PROJECT AREA NO. 1: CAPITAL IMPROVEMENT FUND: SERVICES 0.00 0.00 0.00 0.00 0.00 REIMBURS EMENT TO GEN FUND 0.00 0.00 0.00 0.00 0.00 TRANSFERS OUT 13,208,161.00 13,208,161.00 562,819.25 0.00 12,645,341.75 TOTAL CAPITAL IMPROVEMENT 13,208,161.00 0.00 13,208,161.00 562,819.25 0.00 12,645,341.75_ 2011 TAXABLE HOUSING BOND(249) SERVICES 0.00 0.00 0.00 0.00 0.00 TRANSFERS OUT 25,514,502.00 25,514,502.00 0.00 0.00 25 514,502 00 TOTAL 2011 TAXABLE HOUSING BOND 25,514,502.00 0.00 25,514,502.00 0.00 0.00 25,514,502.00 TOTAL SUCCESSOR AGENCY - PA 1 25,514,502.00 0.00 38,722,663.00 562,819.25 0.00 38,159,843.75 SUCCESSOR AGENCY TO THE LA QUINTA REDEVELOPMENT AGENCY EXPENDITURE SUMMARY PROJECT AREA NO. 2: MID -YEAR ADJUSTED 113112014 REMAINING BUDGET REQUESTS BUDGET EXPENDITURES ENCUMBERED BUDGET 2004 LOW/MODERATE BOND FUND HOUSING PROGRAMS 0.00 0.00 0.00 0.00 0.00 LAND 0.00 0.00 0.00 0.00 0.00 TRANSFERS OUT 2,564,204.00 2,564,204.00 33,627.33 0.00 2,530,576.67 TOTAL LOW/MOD BOND 2,564,204.00 0.00 2,564,204.00 33,627.33 0.00 2,530,576.67 2011 RDA 2 TAXABLE BOND FUND:(417) SERVICES 0.00 0.00 0.00 0.00 0.00 ECONOMIC DEVELOPMENT 0.00 0.00 aoo 0.00 0.00 TRANSFERS OUT 2,399,786.00 2,399,786.00 0.00 0.00 2,399,786.00 TOTAL RDA NO. 2 TAXABLE BOND 2,399,786.00 0.00 2,399,786.00 0.00 0.00 2,399,786.00 TOTAL SUCCESSOR AGENCY - PA 2 2,399,786.00 0.00 4,963,990.00 33,627.33 0.00 4,930,362.67 TOTAL SUCCESSOR AGENCY 2,399,786.00 0.00 63,576,953.00 7,514,720.82 0.00 56,062,232.18 13 SUCCESSOR AGENCY EXPENDITURE SUMMARY ADMIN RPTTF MID -YEAR ADJUSTED 01131114 REMAINING BUDGET REQUESTS BUDGET EXPENDITURES ENCUMBERED BUDGET SERVICES 195,000.00 195,000.00 88,362.76 0.00 106,637.24 REIMBURSEMENT TO GEN FUND 387,100.00 387,100.00 193,515.83 0.00 193T584.17 TRANSFERS OUT 0.00 0�00 0.00 0.00 000 TOTAL PA 1 Adrril� 582,100.00 0.00 582,100.00 281,878.59 0.00 300,221.41 TOTAL SUCCESSOR AGENCY Admin 582,100.00 0.00 582,100.00 281,878.59 0.00 300,221.41 SERVICES 0.00 0�00 1,047.00 0.00 (1,04T00) BOND PRINCIPAL 6,190,000.00 6,190,000.00 0.00 0.00 6,190,000.00 BONDINTEREST 13,118,200.00 13,118,200.00 6,635,348.65 0.00 6,482,851.35 REIMBURSEMENT TO GEN FUND 0.00 0.00 0.00 0.00 0.00 TRANSFERS OUT 0.00 0.00 0.00 0.00 0.00 TOTAL PA 1 - Program 19,308,200.00 0.00 19,308,200.00 6,636,395.65 0.00 12,671,804.35 TOTAL SUCCESSOR AGENCY - Program 19,890,300.00 0.00 19,308,200.00 6,636,395.65 0.00 12,671,804.35 14 15 Ir OF CITY /FSA] /FHA] /FFA] MEETING DATE: April 15, 2014 ITEM TITLE: ADOPT RESOLUTION AMENDING AND RESTATING BYLAWS AND RULES OF PROCEDURE RECOMMENDED ACTION: AGENDA CATEGORY: BUSINESS SESSION: CONSENT CALENDAR: STUDY SESSION: PUBLIC HEARING: Adopt a resolution approving the Amended and Restated Bylaws and Rules of Procedure. EXECUTIVE SUMMARY: Due to changes in law, policy, and/or practice, amendments to the Rules of Procedure ("Rules") are necessary from time -to -time. At the January 21, 2014 Council meeting, Council formed an Ad Hoc Committee consisting of Councilmembers Evans and Franklin to review the Rules. A thorough examination of all sections of the Rules was undertaken to incorporate changes in State law, improvements 'in technology, increased emphasis on transparency, and evolved practices. The Council Rules will now be the master document containing all matters common to every City government body. The Housing Authority, Financing Authority, and Successor Agency Rules are consistent with each other and contain only the provisions specific to that government body. FISCAL IMPACT: Financing Authority and Successor Agency Members serve without pay, but Housing Authority Members are entitled to $50 per meeting. The anticipated savings due to the reduction of regular Housing Authority meetings from monthly 16 to quarterly is $1,600 in salaries (Councilmember Henderson waives pay for these meetings.) Savings of paper, equipment wear and tear, and staff time will also result from the reduction in agenda packet production. BACKGROUNDANAILYSIS: With the exception of sections discussed below, all changes to the Rules reflect current practice, recently enacted State law, or accomplish the goals of logical organization and consistency. HOUSING AUTHORITY Section 5 Regular Meetings — The Housing Authority has been meeting monthly since it was established in October 2009. The dissolution of the Redevelopment Agency and the completion of several major housing projects have slowed housing development activity. Staff estimates that quarterly meetings will be sufficient to address housing business going forward. If an additional meeting is needed, a special meeting may be called at any time. A redlined version of the Housing Authority Rules is included as Attachment 1 . F I N AN C I N G A U TH 0 R IT Y The Financing Authority, which was created in 1988, did not have formal Rules but the Joint Exercise of Powers Agreement (JEPA) that established the Authority, and Resolution Nos. FA1988-001, FA2006-003 addressed many of the matters typically included in Rules documents. The new Rules were created by pulling relevant provisions from these three documents and using the amended and restated Housing Authority Rules document as a template. Section 5 Meetings — From 1988 to 2006, the Financing Authority was only required to meet on the first Tuesday of the month preceding the date it expected to purchase bonds or other evidence of indebtedness. During the years 1988 to 1999, the Authority met, on average, three times per year. Starting in 2000 and continuing to the present, the Authority has met monthly. There is no record of Authority Members formalizing this change, nor is there any staff report or minutes addressing it until 2006. The change to monthly meetings was formalized with the adoption of Resolution No. FA2006-003 but the accompanying staff report and resolution "whereas" sections do not explain the reason for the change to monthly meetings. Based on research of State and Municipal Code, meeting requirements for the Financing Authority are not specific days, or frequency. Financing Authorities are only required to meet to take action on certain matters. Therefore, the text of Section 5 calls for meetings to occur as needed to take action on necessary annual budgets, annual investment policies, annual financial reports, and bond items. Since no regular meeting day is being set, as -needed meetings will be labeled 17 special meetings. To each meeting called, staff will add Consent Calendar items such as approval of minutes, revenue and expenditure report(s), and treasurer's reports that are pending since the last meeting. No operational problem or conflict with State Code arises from less frequent approval of minutes or routine Finance Department reports. SUCCESSOR AGENCY The Successor Agency has not adopted Rules. In developing Rules for the Agency, the amended and restated Housing Authority Rules template was used since most provisions are common to both bodies. Section 5 Meetings — The Successor Agency has been meeting twice per month following every Council meeting since its creation in 2012. The purpose of the Agency is to wind down the affairs of the dissolved Redevelopment Agency and as such, the text of Section 5 states that it shall meet as needed when action is required on these matters. State law is silent on the frequency of Agency meetings. As with the Financing Authority above, staff will bring accumulated minutes and finance reports to each meeting called and meetings will be labeled special meetings. ALTERNATIVES: With the exception of provisions required by State law, Council may add, delete, or amend any existing or proposed section of the Rules. Report prepared by: Susan Maysels, Secretary Report approved for submission by: Frank J. Spevacek, Executive Director 18 19 RESOLUTION NO. SA 2014 - A RESOLUTION OF THE SUCCESSOR AGENCY TO THE LA QUINTA REDEVELOPMENT AGENCY ADOPT RULES OF PROCEDURE FOR MEETINGS, RELATED FUNCTIONS, AND ACTIVITIES WHEREAS, by Resolution No. 2012-002 adopted January 2, 2012, the City Council of the City of La Quinta elected to serve as the Successor Agency to the La Quinta Redevelopment Agency pursuant to California Health & Safety Code Section 34173; and WHEREAS, the Agency desires to adopt rules of procedure for the general operation of the Agency and conduct of its meetings, which shall supersede previous resolutions addressing these matters. NOW, THEREFORE, BE IT RESOLVED by the Successor Agency to the La Quinta Redevelopment Agency as follows: SECTION 1 . The Rules of Procedure of the Successor Agency, a copy of which is attached hereto as Exhibit "A" and incorporated herein are hereby approved. SECTION 2. The Successor Agency Chairperson and Executive Director are authorized and directed to take such actions and execute such documents as may be necessary to implement and affect this Resolution and the Rules of Procedure on behalf of the Successor Agency. SECTION 3. The Secretary shall certify to the adoption of this Resolution. PASSED, APPROVED, and ADOPTED at a regular meeting of the Successor Agency to the La Quinta Redevelopment Agency held on this day of 2014, by the following vote: AYES: NOES: ABSENT: ABSTAIN: DON ADOLPH, Chairperson Successor Agency to the La Quinta Redevelopment Agency 00111 Resolution No. SA 2014- Bylaws & Rules of Procedure Adopted: April 15, 2014 Page 2 of 6 ATTEST: SUSAN MAYSELS, Agency Secretary Successor Agency to the La Quinta Redevelopment Agency (AGENCY SEAL) APPROVED AS TO FORM: M. KATHERINE JENSON, Agency Counsel Successor Agency to the La Quinta Redevelopment Agency -?Al Resolution No. SA 2014- Bylaws & Rules of Procedure Adopted: April 15, 2014 Page 3 of 6 EXHIBIT A RULES OF PROCEDURE OF THE SUCCESSOR AGENCY TO THE LA QUINTA REDEVELOPMENT AGENCY SECTION 1. CITY COUNCIL RULES OF PROCEDURE INCORPORATED Except as provided otherwise herein, all the provisions of the Rules of Procedure for Council Meetings and Related Functions and Activities shall apply to the Successor Agency to the La Quinta Redevelopment Agency and are hereby incorporated by reference as currently written and as amended from time to time. SECTION 2. NAME OF AGENCY The official name of the Agency shall be the "Successor Agency to the La Quinta Redevelopment Agency" (herein referred to as "Agency"). SECTION 3. SEAL OF AGENCY The seal of the Agency shall be in the form of a circle and shall bear the name of the City and the Agency and the date it was established — February 1 , 2012. SECTION 4. OFFICE OF AGENCY AND PLACE OF MEETING. The office and regular place of meeting of the Agency shall be at the La Quinta City Hall, 78-495 Calle Tampico, La Quinta, California. The Agency may hold its meetings at such other locations as the Agency may from time to time designate by resolution, in the order of adjournment, or notice of call of any special meeting. SECTION 5. MEETINGS The Agency shall meet as needed to wind down the affairs of the former La Quinta Redevelopment Agency at the time designated in the Rules of Procedure for Council Meetings and Related Functions and Activities, as It currently exists or as amended from time to time. All such meetings will be noticed as special meetings under the Brown Act. SECTION 6. POWERS. The Agency shall be vested with all the rights, powers, duties, privileges, and immunities established by California Health and Safety Code, Division 24, Part 1.85 entitled: Dissolution of Redevelopment Agencies and Designation of Successor Agencies ("Successor Agencies Law") which powers shall be vested in the Agency Members thereof then in office, who reserve unto themselves the right to delegate such powers as are appropriate and permissible by law. 22 Resolution No. SA 2014- Bylaws & Rules of Procedure Adopted: April 15, 2014 Page 4 of 6 SECTION 7. AGENCY MEMBERS. The members of the Agency shall be the members of the La Quinta City Council. SECTION 8. OFFICERS AND OFFICIALS The officers of the Agency shall be a Chairperson and a Vice -Chairperson. Other officials acting as its staff shall be an Executive Director, a Finance Officer, a General Counsel, a Secretary, and such other officials as the Agency Members may determine. Subject to the provisions of these Bylaws and Rules of Procedure, the Agency Members shall set the selection, duties, and compensation of such officials. Whenever an officer of the City is designated an officer of the Agency, the assistants and deputies of such officer from time to time shall also be, ex officio, officers of the Agency; 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. SECTION 9. CHAIRPERSON The Chairperson shall be the current Mayor of the City of La Quinta who shall serve until a successor has been duly elected. The Chairperson shall preside at all meetings of the Agency. SECTION 10. VICE -CHAIRPERSON The Vice -Chairperson shall be the current Mayor Pro Tempore of the City of La Quinta and shall perform the duties of the Chairperson in the absence, incapacity, resignation, or death of the Chairperson until such time as the Chairperson returns or a new Chairperson takes office. SECTION 11. ABSENCES In the absence of the Chairperson and Vice -Chairperson, the Agency Members shall elect a member present as temporary Chairperson for the purpose of conducting meetings and performing the duties of the Chairperson. SECTION 12. EXECUTIVE DIRECTOR The Executive Director shall be the person acting as the City Manager of the City of La Quinta. The Executive Director shall have general supervision over administration of the Agency business and its affairs, subject to the direction of the Agency Members. SECTION 13. FINANCE OFFICER The Finance Officer shall be the person acting as the Finance Director/Treasurer 23 Resolution No. SA 2014- Bylaws & Rules of Procedure Adopted: April 15, 2014 Page 5 of 6 of the City of La Quinta. The Finance Officer shall have the care and custody of all funds of the Agency and shall deposit the same in the name of the Agency in such bank or banks as the Agency may select. The Finance Officer shall sign all checks, drafts, or orders for the payment of money, notes, or other indebtedness and shall pay out and disburse such monies under the direction of the Agency. The Finance Officer shall keep regular books of account, showing receipts and expenditures and shall render to the Agency at each meeting, or more often when requested, an account of transactions and the financial conditions of the Authority. SECTION 14. GENERAL COUNSEL The General Counsel shall be the person acting as the City Attorney of the City of La Quinta. The General Counsel shall be the chief legal officer of the Agency and shall be responsible for the preparation of all proposed resolutions, laws, rules, contracts, bonds, and all other legal papers for the Agency. The General Counsel shall give his/her advice or opinion in writing to the Chairperson or other Agency officers and officials whenever required to do so. The General Counsel shall attend to all suits and other matters to which the Agency is a party or in which the Agency may be legally interested and do such other things pertaining to the office as the Agency may require. SECTION 15. SECRETARY. The Secretary shall be the person acting as the City Clerk of the City of La Quinta. The Secretary shall keep the records of the Agency, shall act as secretary at meetings of the Agency, shall record all votes, keep a record of the proceedings of the Agency in a journal of proceedings to be kept for such purpose, and shall perform all duties incident to the office. The Secretary shall maintain a record of all official proceedings of the Agency and its programs. SECTION 16. ADDITIONAL DUTIES. The officers and officials of the Agency shall perform such other duties and functions as may from time to time be required by the Agency or by these Bylaws and Rules of Procedure. SECTION 17. PERSONNEL The ordinances, resolutions, rules, and regulations of the City governing its personnel shall also govern the personnel of the Agency. SECTION 18. VACANCIES. Where an office of the Agency becomes vacant and these Bylaws and Rules of Procedure specify that the person serving in that office is the person holding a designated position with the City, the office shall remain vacant until a person is 24 Resolution No. SA 2014- Bylaws & Rules of Procedure Adopted: April 15, 2014 Page 6 of 6 appointed to the City position, unless the Agency Members make a temporary appointment until such position is filled. In all other cases, when an office becomes vacant, the Agency Members shall appoint a successor within a reasonable period or by an affirmative vote of the majority, determine that such position shall remain vacant for a definite or indefinite period. No Agency Member shall be eligible for any office of the Agency other than Chairperson and Vice- Chairperson. SECTION 19. COMPENSATION No Agency Member shall be employed by the Agency during his/her tenure of office. Agency Members shall not receive any compensation for serving as such, but shall be entitled to reimbursement for any expenses actually incurred in connection with serving as a member of the Agency. The Agency shall determine if such expenses shall be reimbursed and if there are unencumbered funds available for such purpose. SECTION 20. ADDITIONAL PERSONNEL, AGENTS, AND CONSULTANTS The Agency may from time to time appoint or employ such personnel, agents, and consultants, as it deems necessary to exercise its powers, duties, and functions. The Agency may utilize the services of City employees as authorized by the City. In addition, the Agency may retain such agents and consultants, permanent and temporary, as it may require. The selection, duties, and compensation of such personnel, agents, and consultants shall be determined by the Agency subject to the laws of the State of California. SECTION 21. PAYMENT OF MONEY, NOTES, AND OTHER INDEBTEDNESS All checks, drafts or other orders for the payment of money, notes, or other evidence of indebtedness issued in the name of or payable to the Agency require the signature of any two of the following persons: the Chairperson, Vice - Chairperson, Agency Executive Director, and the Agency Finance Officer. SECTION 22. PURCHASING Except as otherwise specified herein or as established by resolution, the Agency shall comply with all ordinances, resolutions, rules and regulations of the City in purchasing and contracting for supplies, services, and equipment. SECTION 23. RULES DIRECTORY To the extent not required by State laws, these rules of procedure shall be considered directory only; and compliance herewith shall not be considered mandatory or jurisdictional. 25