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HomeMy WebLinkAboutResolution 2006-038 N.C.S. 03/06/2006 Resolution No. 2006-038 N.C.S. of the City of Petaluma, California RESOLUTION APPROVING, AUTHORIZING, AND DIRECTING THE EXECUTION OF A JOINT EXERCISE OF POWERS AGREEMENT RELATING TO THE CALIFORNIA MUNICIPAL FINANCE AUTHORITY WHEREAS, the City of Petaluma, California (the "City"), has expressed an interest in participating in economic development, cultural and community development financing programs (the "Programs") in conjunction with the parties to that certain Joint Exercise of Powers Agreement Relating to the California Municipal Finance Authority, dated January 1, 2004 (the "Agreement"); and, WHEREAS, there is now before this City Council the form. of the Agreement; and WHEREAS, the City proposes to participate in the Programs and desires that certain projects to be located within the City (including a proposed 58 unit multifamily rental housing project for a limited partnership or limited liability company to be established by Petaluma Ecumenical Properties ("PEP") in which PEP or an affiliate will serve as a general partner or member and which will be located at 400 Casa Grande Road in the City), be financed pursuant to the Programs, and it is in the public interest and for the public benefit that the City do so; and, WHEREAS, the Agreement has been filed with the City, and the members of the City Council of the City, with the assistance of its staff, have reviewed said document. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Petaluma, as follows: Section 1. The Agreement is hereby approved and the Mayor or the City Manager or designee thereof is hereby authorized and directed to execute said document, with such changes, insertions and omissions as may be approved by said Mayor or City Manager, and the City Clerk or such Clerk's designee is hereby authorized and directed to affix the City's seal to said document and to attest thereto. Section 2. The Mayor, the City Manager, the City Clerk.. and all other proper officers and officials of the City are hereby authorized and directed to execute such other agreements, documents and certificates, and to perform such other acts and deeds, as may be necessary or convenient to effect the purposes of this Resolution and the transactions herein authorized. Section 3. The City Clerk of the City shall forward a certified copy of this Resolution and an originally executed Agreement to: Resolution No. 2006-038 N.C.S. Page 1 Harriet M. Welch, Esq. Squire, Sanders & Dempsey, LLP. 801 South Figueroa Street, 14th Floor Los Angeles, CA 90017 Section 4. This resolution shall take effect immediately upon its adoption. Under the power and authority conferred upon this Council by the Charter of said City. REFERENCE: I hereby certify the foregoing Resolution was introduced and adopted by the Approv ~as to Council of the City of Petaluma at a Regular meeting on the 6'~ day of March, 2006, fo by the following vote: ~r1 City A~ ey AYES: Vice Mayor Canevaro, Harris, Healy, Nau, O'Brien, Torliatt NOES: None ABSENT: Mayor Glass ABSTAIN: None _ ATTEST: ` _ City Clerk Ma or Resolution No. 2006-038 N.C.S. Page 2