The URL can be used to link to this page

Home My WebLink About1998-307 " IMPORTANT NOTE - Resolution 98-307 is null and void because it was not executed within time specified. 98-307 RESOLUTION NO, 2 RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN BERNARDINO APPROVING AN ASSOCIATE MEMBERSHIP AGREEMENT WITH THE 3 INDEPENDENT CITIES LEASE FINANCE AUTHORITY AND PROVIDING OTHER MATTERS PROPERLY RELATING THERETO. 4 5 6 7 8 9 10 II 12 13 14 IS 16 17 18 19 20 21 22 23 24 25 26 27 28 WHEREAS, certain cities of the State of California (collectively, the "Members") have entered into a Joint Powers Agreement Creating the Independent Cities Lease Finance Authority (the "Joint Powers Agreement"), establishing the Authority and prescribing its purposes and powers, as amended by an Amendment NO.1 thereto providing, among other things, for associate members of the Authority (an" Associate Member"); and, WHEREAS, the Authority has been formed for the purpose, among others, of assisting its Members and Associate Members in the participation in Home Mortgage Financing Programs (as defined in the Joint Powers Agreement) and in financing the acquisition, construction, improvement andlor equipping of public capital improvements; and, WHEREAS, the City of San Bernardino desires to become an Associate Member of the Authority as provided in the Associate Membership Agreement, in substantially the form on file with the City Clerk; NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN BERNARDINO AS FOLLOWS: SECTION 1. The Council hereby approves and authorizes the Mayor to execute and the City Clerk to attest the Associate Membership Agreement pursuant to which the City shall become an Associate Member of the Independent Cities Lease Finance Authority, in substantially the form on file with the City Clerk, a copy of which is attached hereto as Exhibit "A" and incorporated herein by reference in its entirety. SECTION 2. The authorization granted hereunder shall expire and be void and of no further effect if the Associate Membership Agreement is not executed by both parties and returned to the Office of the City Clerk within sixty (60) days following the effective date of the resolution, /II /II HTC/js [AGREEMENT.RES] " 98-307 ~ 1 RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN BERNARDINO APPROVING AN ASSOCIATE MEMBERSHIP AGREEMENT WITH THE 2 INDEPENDENT CITIES LEASE FINANCE AUTHORITY AND PROVIDING OTHER MATTERS PROPERLY RELATING THERETO. 3 4 5 6 I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the Mayor and Common Council of the City of San Bernardino at a regular meetin thereof, held on the 19th day of October , 1998, by the following vote, to wit AYES NAYS ABSTAIN ABSENT x x x x x x ---'L_ ~~,~. CITY CLERK 17 18 19 20 21 The foregoing Resolution is hereby approved this .It?h-..day of October , 1998. .({ ( (,'....- JUDIT,ff VALLES, Mayor City ffl San Bernardino ! / L..'// Approved as to form and 22 legal content: 23 JAMES F. PENMAN, City Attorn 24 25 26 27 28 By' HTC/js [AGREEMENT. RES] 'i',f'3c 7 . '. ASSOCIATE MEMBERSHIP AGREEMENT by and between the INDEPENDENT CITIES LEASE FINANCE AUTHORITY and the CITY OF SAN BERNARDINO, CALIFORNIA THIS ASSOCIATE MEMBERSHIP AGREEMENT dated as of , _ by and between the INDEPENDENT CITIES LEASE FINANCE AUTHORITY, a joint powers authority duIy organized and existing under the laws of the State of California (the "Authority") and the CITY OF SAN BERNARDINO, CALIFORNIA, a municipal corporation and charter city duly organized and existing under the laws of the State of California (the "City"); WIT N E SSE T H: WHEREAS, certain cities of the State of California (collectively, the "Members"), have entered into a Joint Powers Agreement, creating the Independent Cities Lease Finance Authority, establishing the Authority and prescribing its purposes and powers (the" Agreement"), as amended by an Amendment No. 1 thereto providing, among other things, for associate members of the Authority (an "Associate Member"); and, WHEREAS, the Authority has been formed for the purpose, among others, of assisting its Members and Associate Members in the participation in home Mortgage Financing Programs (as defined in the Agreement) and in financing the acquisition, construction, improvement and/or equipping of public capital improvements; and, WHEREAS, the City desires to become an Associate Member of the Authority; and, WHEREAS, the Board of Directors of the Authority has determined that the City should become an Associate Member of the Authority; NOW THEREFORE, in consideration of the above premises and of the mutual promises herein contained, the Authority and the City do hereby agree as follows: SECTION 1. Pw:pose. The purpose of this Associate Membership Agreement is to assist its Associate Members in the participation in Home Mortgage Financing Programs (as defined in the Agreement) and in financing the acquisition, construction, improvement and/or equipping of public capital improvements; SECTION 2. Associate Member Status, The City is hereby made an Associate Member of the Authority for all purposes of the Agreement and the Bylaws of the Authority, the provisions of which are hereby incorporated herein by reference, From and after the date of execution and HTC/js [INDEPENDENTAGR] ,Rtdt'i/M /':Ytn h "4' A.l!-lu~..-n <j- 26 -j'9//1P-717 1, J ~.(HO ,Innz~ /7'1~ tj,'i'-:507 . -. delivery of this Associate Membership Agreement by the City and the Authority, the City shall be and remain an Associate Member of the Authority, subject to Article 17 of the Agreement. SECTION 3. Restrictions and Rights of the City. The City shall not have the right, as an Associate Member of the Authority, to vote on any action taken by the Board of Directors or by the Authority. In addition, no officer, employee or representative of the City shall have any right to become an officer or director of the Authority. SECTION 4. No Obligations of the City. The debts, liabilities and obligations of the Authority shall not be the debts, liabilities and obligations of the City, SECTION 5. Execution of the Agreement. Execution of this Associate Membership Agreement shall satisfy the requirements of Article 27 of the Agreement and Article XI of the Bylaws of the Authority for participation by the City in any Home Mortgage Financing Program and in any other undertaking by the Authority for financing the acquisition, construction, improvement and/or equipping of public capital improvements. IN WITNESS WHEREOF, the parties hereto have caused this Associate Membership Agreement to be executed and attested by their proper officers thereunto duly authorized, on the day and year first set forth above, INDEPENDENT CITIES LEASE FINANCE AUTHORITY BY..~~liL<)'~_&;11U;Z Title rl~ ,= '" Il"= 11.-'1" Attest: ecretary ('- , . Attest: , j Jil v: ,1/ Ii 'V' ~ i'7. ". ' '/ " ,j' lit.,' {j lit 'r It', ,Ui,,"ilJ d ~. L -' ...(-.\;.. ,': v.t /{_/L ';r~ . L-- --'''-N .' u/ / S C/, !/},,'h~ ecretary ,u~'7 " ) HTC/js [lNDEPENDENT.AGR] 2