HomeMy WebLinkAbout1998 049 CC RESO1998 049 CC RESO¹òw @˜ ’ ’ RESO 98-49 JUN 17 1998H.f8 RESOLUTION NO.98 49
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BALDWIN PARK APPROVING
AMENDMENT NO.2 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 entered into Amendment No. I to the Joint Powers Agreement to
provide for the express purpose of authorizing the undertaking of home mortgage financing programs
and to provide for home mortgage financing programs 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, but
who are not entitled to be represented on the Board of Directors or entitled to vote on any mailer coming
before the Board of Directors or the Authority; and
WHEREAS, the Members desire to again amend the Joint Powers Agreement to provide' that,
under certain circumstances, a Member may become an Associate Member;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Baldwin Park,
California, as follows:
Section 1. Approval of Amendment No.2. The City Council hereby approves Amendment No.
2 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
Mayor
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES) ss:
CITY OF BALDWIN PARK
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1998 049 CC RESO¹òw @˜ ’ ’ RESO 98-49 JUN 17 1998H.f8 I, LINDA L. GAIR, City Clerk of the City of Baldwin Park, do hereby certify that the foregoing Resolution
No. 98 49 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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