Resolution No. 71481
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RESOLUTION NO. 7148
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF VERNON APPROVING AMENDMENT NO. 2 TO THE
JOINT POWERS AGREEMENT CREATING THE
INDEPENDENT CITIES LEASE FINANCE AUTHORITY AND
PROVIDING OTHER MATTERS PROPERLY RELATING
THERETO
WHEREAS, the City of Vernon, 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; and
WHEREAS, the Members entered into Amendment No. 1 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 be entitled to be represented on the
Board of Directors or entitled to vote on any matter 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 VERNON AS FOLLOWS:
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SECTION 1: The City Council of the City of Vernon
hereby finds and determines that the recitals contained
hereinabove are true and correct.
SECTION 2: The City Council of the City of Vernon
hereby approves Amendment No. 2 to the Joint Powers Agreement
Creating the Independent Lease Finance Authority, a copy of which
has been presented to the City Council concurrently with this
resolution, and the City Council hereby orders said Amendment to
be received and filed by the City Clerk.
SECTION 3: The 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 4: The City Clerk is hereby directed to send a
certified copy of this resolution to:
David N. Smith
Program Administrator
Independent Cities Lease Finance Authority
14156 Magnolia Boulevard, Suite 103
Sherman Oaks, California 91423
SECTION 5: The City Clerk of the City of Vernon shall
certify to the passage of this resolution, and thereupon and
thereafter the same shall be in full force and effect.
APPROVED AND ADOPTED this 23rd day of June, 1998.
ATTESTS
BRUCE V. MALKENHORST, City Clerk
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" LEONIS C. MALBURG,Mayor
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STATE OF CALIFORNIA )
)ss
COUNTY OF LOS ANGELES )
I, BRUCE V. MALKENHORST, City Clerk of the City of
Vernon, do hereby certify that the foregoing Resolution, being
Resolution No. 7148, was duly adopted by the City Council of the
City of Vernon at an adjourned regular meeting of the City Council
duly held on Tuesday, June 23, 1998, and thereafter was duly
signed by the Mayor of the City of Vernon.
BRUCE V. MALKENHORST, City Clerk
(SEAL)
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19027-02 JH: ACHAssj
AMENDMENT NO.2 TO
JOINT POWERS AGREEMENT
CREATING THE INDEPENDENT CITIES LEASE FINANCE AUTHORITY
05/11/98 ,
This Amendment No. 2 to Joint Powers Agreement Creating The Independent Cities
Lease Finance Authority (the "Amendment") is the second amendment to the Joint Powers
Agreement Creating The Independent Cities Lease Finance Authority (the "Joint Powers
Agreement") and is executed in the State of California by an among those cities organized and
existing under the constitution of the State of California which are parties to the Joint Powers
Agreement as shown on Exhibit A to the joint Powers Agreement (the `Members").
RECITALS
WHEREAS, Articles 1 and 2, Chapter 5 Division 7, Title 1 of the California Government
Code (Section 6500 et seq.) permits two or more public agencies by agreement to exercise jointly
powers common to the contracting parties;
WHEREAS, the Members entered into 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. 1 to the Joint Powers Agreement
to provide for the express purpose of authorizing the undertaking of home mortgage financing
programs and 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, but who are not
entitled to be represented on the Board of Directors or entitled to vote on any matter 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, the parties agree as follows:
Section 1. Amendment to Toint Powers Agreement. A new subarticle-(d) is
added to Article 15 of the Joint Powers Agreement to read as follows:
"(d) If a Member shall give written notice to the Authority of its election to
relinquish its status as a Member and instead become an Associate Member or if a
Member shall fail to be represented at three (3) or more successive meetings of the Board
of Directors, then such Member shall be deemed to be an Associate Member upon action
of the Board of Directors duly adopted to such effect. Promptly following any such
action by the Board of Directors, such Member shall promptly deliver to the Authority
an executed Associate Membership Agreement in the form and as further provided in
the Bylaws. Such Associate Member status shall not relieve such Member from its
obligations under any outstanding agreements relating to the Authority's bonds,
certificates of participation or other obligations except in accordance with such
agreements."
Section 2. Effective. This Amendment No. 2 shall be effective upon receipt by the
Authority of notice of approval of this Amendment No. 2 by the City Councils of twq-thirds of
the Members, as further provided in Article 23 of the Joint Powers Agreement.
Section 3. Filing with Secretary of State. The Program Administrator of the Authority
shall file a notice of this Amendment No. 2 with the office of the California Secretary of State
within 30 days of its effective date, as required by California Government Code Section' 6503.5.
[END OF AMENDMENT NO. 21
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SUPPORTING
DOCUMENTS
CITY COUNCIL
LEONIS C. MALBURG
Mayor
THOMAS A. YBARRA
Mayor Pro-Tem
Wm. "BILL" DAVIS
Councilman
H. "LARRY" GONZALES
Councilman
W. MICHAEL McCORMICK
Councilman
BRUCE V. MALKENHORST
City Administrator/City Clerk
FAX: (213) 581-7924
J
DAV1D B. BREARLEY
City Attorney
FAX: (818) 330-5818
Cr S: KEVIN WILSON
Director of Community Services & Water
FAX (213) 588-2761
KENNETH J. DeDARIO
Director of Light & Power
FAX (213) 583-1983
DAVE TELFORD
Fire Chief
FAX (213) 581-130
CITY HALL
4W5 SANTA FE AVENUE, VERNON, CALIFORNIA 90058
TELEPHONE (213) 583-8811
June 25, 1998
Mr. David N. Smith, Program Administrator
Independent Cities Lease Finance Authority
14156 Magnolia Boulevard, Suite 103
Sherman Oaks, California 91423
LOUIS ROSENKRANTZ
Police Chief
FAX: (213) 581-1178
Re: Notice of Approval of Amendments Nos. 1 and 2 to Joint
Powers Agreement
Dear Mr. Smith:
Pursuant to Article 23 of the Joint Powers Agreement creating the
Independent Cities Lease Financing Authority ("the Agreement"),
please be advised that on June 23, 1998, the City Council of the
City of Vernon approved Amendment Nos. 1 and 2 to the Agreement.
Certified copies of the resolutions evidencing such approval are
enclosed for your records.
Very truly yours,
CITY OF VERNON
eonis C. Malburg
Mayor
LCM:rcw
Enclosures
cc: David B. Brearley, City Attorney
Enclosure