HomeMy WebLinkAbout1998 048 CC RESO1998 048 CC RESO¹òw @˜ ’ RESO 98-48 JUN 17 1998H.c8 RESOLUTION NO. 98-48
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BALDWIN PARK APPROVING
AMENDMENT NO.1 TO JOINT POWERS AGREEMENT CREATING THE
INDEPENDENT CITIES LEASE FINANCE AUTHORITY AND PROVIDING OTHER
MATTERS PROPERLY RELATING THERETO
WHEREAS, this City together with certain other Cities collectively, the Members"), entered into
the joint Powers Agreement Creating the Independent Cities Lease Finance Authority the Joint Powers
Agreement') for the purpose of assisting public agencies to finance the acquisition, construction,
installation and/or equipping of public capital improvements and to encourage and promote other joint
and cooperative endeavors among such public agencies for their mutual benefit;
WHEREAS, the Members desire to amend the Joint Powers Agreement to provide for the
express purpose of the joint exercise of powers under part 5 of Division 31 commencing with Section
52000) of the California Health and Safety Code, being the provisions of the Code which authorize the
undertaking of home mortgage financing programs a Home Mortgage Financing Program"); and
WHEREAS, the Members desire also to amend the joint Powers Agreement to provide for a new
class of associate members the Associate Members") who will be able to participate in all of the
financing programs of the Authority, including a Home Mortgage Financing Program, but who will not be
entitle to be represented on the Board of Directors or be entitled to vote on any mailer coming before the
Board of Directors or the Authority;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Baldwin Park,
California, as follows:
Section 1. Approval of Amendment No.1. The City Council hereby approves Amendment No.
1 to the joint Powers Agreement Creating the Independent Lease Finance Authority substantially in the
form on file with the City Clerk.
Section 2. Notice of Approval. The City Mayor is hereby directed to give the Authority notice of
such approval in accordance with the notice requirements of Article 23 of the Joint Powers Agreement.
Section 3. Effective Date. This Resolution shall take effect from and after the date of its
passage and adoption.
PASSED, APPROVED AND ADOPTED this 17th day of June, 1998
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES) ss:
CITY OF BALDWIN PARK
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1998 048 CC RESO¹òw @˜ ’ RESO 98-48 JUN 17 1998H.c8 I, LINDA L. GAIR, City Clerk of the City of Baldwin Park, do hereby certify that the foregoing Resolution
No.98 48 was duly adopted by the City Council and signed by the Mayor of said City at the regular
meeting held on the 17th day of June, 1998, and that the same was passed by the following roll call vote
to wit:
AYES: MUSE, LOZANO, PACHECO, VAN CLEAVE, AND MAYOR LOWES
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE
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