HomeMy WebLinkAboutR03-Economic Development Agency
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QOIlOMIC DBVBLOPMEBr AGBIICY OF 2
CITY OF SAlI BBRlWIDIlIO
UOUEST FOR COIMISSIOllf/COlJlllCIL ACTIOllf
From:
TIMOTHY C. STEINHAUS
Agency Administrator
Subject:
FORMATIOllf OF 301ft
POWBRS nllfAllfCIlIfG
AUTHORITY
Date:
September 11, 1991
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SvnoDsis of Previous CnmmissionlCounci1/Committee Action(s):
None.
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RecnmmPftded Ration(s):
(Communitv Deve100ment Commission)
RESOLUTION OF THE COMMUNITY DEVELOPMElIfT COMMISSION OF THE CITY OF SAN
BERNARDIlIfO, CALIFORNIA, APPROVING CERTIN DOCUMElIfTS PERTAIlIfING TO THE
FORMATION OF THE SAN BERlIfARDINO/COLTON/LOMA LINDA 30IlIfT POWERS
FINANCING AUTHORITY AGREEMENT AND MAKING CERTAIlf"'IiIRONMENTAL
DE""",,mo.. '" """'''IO'' ""REWml. r c _Iis.-
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TIMOTIIY C. STBIIlHAUS
ene.y Administrator
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Contact Person(s): Tim Steinhaus
Phone:
5081
Project Area(s):
All
Ward(s):
Supporting Data Attached: Staff Reoort: Resolution: Aareement
FUNDING REQUIREMElIfTS: Amount: * 46.040 Source: Tax Increment
Budget Authority:
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Commission/Council lIfotes:
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TCS:KJH:1ab:0154E
COIMISSIOllf AGBIIDA
Meeting Date: 09/16/1991
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BCOROlUC DBVBLOPIID'r AGDCY OF TIIB
CITY OF SAB BBP-'VnIBO
STAFF REPORT
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Formation of Joint Powers Ffn..nei_ Authority
Bat'"lr....ftnnd
The Inland Valley Development Ageney ("IVDA") has been previously
formed for the purposes of undertaking the redevelopment of Norton Air
Foree Base and certain areas in proximity thereto. The redevelopment
projeet area of the IVDA ineludes eertain portions of the City of San
Bernardino whieh is a member of the IVDA. The IVDA's activities were
previously funded through advances from the County of San Bernardino
(the "County") whieh advanees are no longer available due to budgetary
eonstraints experieneed by the County. Aeeordingly, IVDA is seeking
the assistanee of the Redevelopment Ageneies of the City of San
Bernardino, Colton and Loma Linda to form a separate Joint Powers
Financing Authority to assist in funding the immediate eosts of the
IVDA in conneetion with its implementation of the redevelopment plan
for the IVDA projeet area.
Ana1vsis
The above-refereneed Resolution provides for the approval by the
Community Development Commission on behalf of the Redevelopment Agency
of the City of San Bernardino (the "Agency") of the formation of a
Joint Powers Finaneing Authority by and among the Ageney and the
Redevelopment Ageneies of the City of Colton and Loma Linda whieh
Joint Powers Finaneing Authority is to be established in order to fund
the eosts of the IVDA. Ths proposed Joint Exercise of Powers
Agreement provides for a Loan transaetion by and between eaeh of the
above-refereneed agencies and the IVDA in a total amount of $50,000 to
eover IVDA's initial eosts and thereafter the issuanee of bonds or
similar indebtedness to be guaranteed by eaeh of the member agencies
whieh guarantee is to be in the following pereentages:
a) San Bernardino Redevelopment Ageney
b) Colton Redevelopment Ageney
e) Loma Linda Redevelopment Ageney
= 92.08"
= 3.06"
= 4.86"
The above refereneed Resolution has attaehed to it a eopy of the
proposed Joint Exereise of Powers Agreement whieh is to be approved
and exeeuted by eaeh of the ageneies as well as a eopy of the Loan
Agreement by and between the Ageney and the IVDA whereby the San
Bernardino Redevelopment Ageney is agreeing to loan an initial amount
equal to $46,040 dollars for the immediate eosts of the IVDA's
activities.
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TCS:KJH:lab:0154E
COIMISSIOK AGUIlA
Meeting Date: 09/16/1991
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Agenda Itl!ll Ko:
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ECONOInC DEVELOPlWr.r AGERCY STAFF REPORT
Joint Povers FiDanciq Authority
September II, 1991
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In addition, staff has deemed it desirable to cause the Notice of
Exemption to be completed in connection with the formation of the
Joint Powers Authority to ensure compliance with the provisions of
California Environmental Quality Act (CEQA). Said Notice of Exemption
is attached as Exhibit "C" to the Resolution.
Based upon the foregoing, staff recommends adoption of the attached
Res'~ion.
(- J:\
(~IlVr~~. ~i~ ArI.tnfstrator
Eco~c Development Aaency
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TCS:KJH:lab:OI54E
CONIIISSION AGERDA
Meetiq Date: 09/16/1991
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Aaenda Item No:
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Exhibit "A"
12 Exhibit "B"
Exhibit "C"
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14 Action to
be Taken:
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COMMUNITY DEVELOPMENT COMMISSION OF THE
CITY OF SAN BERNARDINO, CALIFORNIA
AGENDA
September 16, 1991
RESOLUTION OF THE COMMUNITY DEVELOPMENT
COMMISSION OF THE CITY OF SAN BERNARDINO,
CALIFORNIA, APPROVING CERTAIN DOCUMENTS
PERTAINING TO THE FORMATION OF THE
SAN BERNARDINO/COLTON/LOMA LINDA JOINT POWERS
FINANCING AUTHORITY AGREEMENT AND MAKING CERTAIN
ENVIRONMENTAL DETERMINATIONS IN CONNECTION
THEREWITH
Joint Powers Aqreement
Authority Loan Aqreement
Notice of Exemption
Adopt Resolution.
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Certified copy of Resolution to be returned to Sabo & Green, A
17 Professional Corporation.
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SBEOI01131DOC17
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8 city of
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RESOLUTION NO.
RESOLUTION OF THE COMMUNITY DEVELOPMENT
COMMISSION OF THE CITY OF SAN BERNARDINO,
CALIFORNIA, APPROVING CERTAIN DOCUMENTS
PERTAINING TO THE FORMATION OF THE
SAN BERNARDINO/COLTON/LOMA LINDA JOINT
POWERS FINANCING AUTHORITY AGREEMENT AND
MAKING CERTAIN ENVIRONMENTAL DETERMINATIONS
IN CONNECTION THEREWITH
WHEREAS, the Community Development Commission of the
San Bernardino (the "Commission")
on behalf of the
Redevelopment
City
Agency
of
the
of
San Bernardino
(the
"Agency"), is a redevelopment agency, a public body, corporate
11 and politic of the State of California, organized and existing
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pursuant
to
Community
the
Redevelopment
Law
(Part
1
of
Division 24) commencing with Section 33000 of the Health and
14 Safety Code of the State of California (the "Act"); and
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WHEREAS, the Inland Valley Development Agency (the
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17 "IVDA") was established as a joint powers authority which was
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formed for the purposes of causing the redevelopment of Norton
Air Force Base and
certain areas
in proximity thereto in
accordance
with
Health and Safety Code
provisions of
the
Section 33320.5; and
WHEREAS,
the
activities
IVDA's
and
functions
in
connection with the undertaking of redevelopment activities were
previously
financed
through
advances
from
the
County
of
San Bernardino (the "County") which financing source is no longer
available given the budgetary constraints affecting the County;
and
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1 WHEREAS, the Agency, in conjunction with the
2 redevelopment agencies of the Cities of Colton and Loma Linda and
3 at the request of the IVDA, deems it desirable to form a joint
4 powers financing authority (the "Authority") in order to assist
5 in the funding of the activities of the IVDA; and
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11 pertaining to the financing of certain activities of the IVDA, a
12 copy of which Joint Powers Agreement is attached hereto as
13 Exhibit "A" and incorporated herein by this reference; and
WHEREAS, the Agency desires to enter into a certain
Joint Exercise of Powers Agreement (the "Joint Powers Agreement")
by and among the Agency, the Redevelopment Agency of the City of
Colton and the Redevelopment Agency of the City of Loma Linda
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15 WHEREAS, in addition to the Joint Powers Agreement, the
16 Agency further deems it desirable to enter into a certain Loan
17 Agreement by and between the Agency and the Authority (the
18 "Authority Loan Agreement") a copy of which is attached hereto as
19 Exhibit "B" and incorporated herein by this reference in order to
20 loan certain moneys to the Authority which in turn may be loaned
21 by the Authority to the IVDA in order to fund the immediate costs
22 and obligations of the IVDA; and
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WHEREAS, in connection with its approval of the Joint
Powers Agreement, the Agency may determine that the formation of
the Authority is exempt from the provisions of the California
Environmental Quality Act ("CEQA"); and
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1 WHEREAS, pursuant to the California CEQA Guidelines and
2 specifically Section 15320 thereof, certain projects are
3 categorically exempt from the requirements of the undertaking of
4 an environmental determination; and
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14 WHEREAS, the Agency has caused the preparation of a
15 Notice of Exemption, a copy of which is attached hereto as
16 Exhibit "C" and incorporated herein by this reference; and
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WHEREAS, the Agency finds that its entering into the
Joint Powers Agreement is categorically exempt from CEQA as a
"Class 20" exemption since the formation of the Authority will
not have a significant effect on the environment and the Joint
Powers Agreement involves the reorganization of local
governmental agencies but does not change the geographical area
in which previously existing powers were exercised; and
WHEREAS, the funding of the activities of the IVDA will
be of benefit to the Agency and its existing project areas since
it will enhance redevelopment activities within those portions of
the city of San Bernardino which are located within the IVDA's
project area which in turn should create employment opportunities
and enhance economic development in the existing project areas of
the Agency which are in proximity to the IVDA project area.
NOW, THEREFORE, THE COMMUNITY DEVELOPMENT COMMISSION OF
THE CITY OF SAN BERNARDINO, CALIFORNIA, DO HEREBY FIND, RESOLVE,
DETERMINE AND ORDER AS FOLLOWS:
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1 section 1. The Commission hereby approves the Joint
2 Powers Agreement, a copy of which is attached hereto as
3 Exhibit "A" and incorporated herein by this reference.
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11 section 3. The Commission hereby approves the
12 Authority Loan Agreement, a copy of which is attached hereto as
13 Exhibit "B" and incorporated herein by this reference, and
14 authorizes the Chairman and Secretary to execute the Authority
15 Loan Agreement on behalf of the Agency.
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17 Section 4. The Commission hereby finds that its
18 entering into the Joint Powers Agreement is categorically exempt
19 from the provisions of CEQA for the reasons set forth in the
20 Recitals hereof and hereby approves the Notice of Exemption
21 attached hereto as Exhibit "C" and incorporated herein by this
22 reference.
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Section 2. The Commission authorizes the Agency
Chairman and Secretary to execute the Joint Powers Agreement on
behalf of the Agency, and take such other action as may be
necessary to implement the provisions of the Joint Powers
Agreement.
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1 RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF
SAN BERNARDINO, CALIFORNIA, APPROVING CERTAIN DOCUMENTS
2 PERTAINING TO THE FORMATION OF THE SAN BERNARDINO/COLTON/LOMA
LINDA JOINT POWERS FINANCING AUTHORITY AGREEMENT AND MAKING
3 CERTAIN ENVIRONMENTAL DETERMINATIONS IN CONNECTION THEREWITH
4 Section 5. The findings and determinations herein
5 shall be final and conclusive. This Resolution shall take effect
6 upon the date of its adoption.
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8 I HEREBY CERTIFY that the foregoing Resolution was duly
9 adopted by the Community Development Commission of the city of
10 San Bernardino at a meeting
11 thereof, held on the day of
12 1991, by the following vote, to wit:
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Commission Members:
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ABSTAIN ABSENT
14
ESTRADA
15 REILLY
HERNANDEZ
16 MAUDSLEY
MINOR
17 POPE-LUDLAM
MILLER
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Secretary
The foregoing
day of
resolution is
, 1991.
hereby approved this
W. R. Holcomb, Chairman
Community Development Commission
of the city of San Bernardino
Approved as to form and legal
By' /l.Ad_..V.h2.I1)
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content:
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1 STATE OF CALIFORNIA )
COUNTY OF SAN BERNARDINO) ss
2 CITY OF SAN BERNARDINO )
3 I, Secretary of the Community
Development Commission of the City of San Bernardino, DO HEREBY
4 CERTIFY that the foreqoinq and attached copy of Community
Development Commission of the City of San Bernardino Resolution
5 No. is a full, true and correct copy of that now on
file in this office.
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IN WITNESS WHEREOF, I have hereunto set my hand and
affixed the official seal of the Community Development Commission
of the city of San Bernardino this day of
, 1991.
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Secretary of the
Community Development
Commission of the city of San
Bernardino
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1 EXHIBIT "A"
0 2 JOINT POWERS AGREEMENT
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JOINT EXERCISE OF POWERS AGREEMENT
BY AND AMONG
THE REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO,
THE REDEVELOPMENT AGENCY OF THE CITY OF COLTON
AND
THE REDEVELOPMENT AGENCY OF THE CITY OF LOMA LINDA
EXHIBIT "A"
SBEOIOU3\D0C\4
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JOINT EXERCISE OF POWERS AGREEMENT
THIS JOINT EXERCISE OF POWERS AGREEMENT, dated
,1991 (herein called this "Agreement"), by and among
the REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO (the "San
Bernardino ROA"), a public body, corporate and politic, duly
organized and existing under and by virtue of the laws of the State
of California, the REDEVELOPMENT AGENCY OF THE CITY OF COLTON (the
"Colton ROA"), a public body, corporate and politic, duly organized
and existing under and by virtue of the laws of the State of
California, and the REDEVELOPMENT AGENCY OF THE CITY OF LOMA LINDA
(the "Loma Linda ROA"), a public body, corporate and politic, duly
organized and existing under and by virtue of the laws of the State
of California.
WIT N E SSE T H:
WHEREAS, Article 1 of Chapter 5 of Division 7 of Title 1
of the Government Code of the State of California (the "Joint
Exercise of Powers Act"), authorizes the San Bernardino ROA, the
Colton ROA and the Lama Linda ROA by agreement to jointly exercise
any powers common to each of them; and
WHEREAS, each of the Parties hereto is authorized by law
to exercise broad governmental functions and authority to
accomplish their respective purposes, including, but not limited
to, the right of eminent domain, the right to issue bonds and
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SBBOIOU31DOC\4
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expend their proceeds and the right to acquire, sell, develop,
c:> lease or administer property; and
WHEREAS, by this Agreement, the Parties hereto desire to
create and establish the San Bernardino Joint Powers Financing
Authority (the "Authority") for the purposes set forth herein and
to exercise the powers described herein; and
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WHEREAS, there has previously been created the Inland
Valley Development Agency (the "IVDA") which is a joint powers
authority created pursuant to the Joint Exercise of Powers Act for
the purposes of causing the redevelopment of Norton Air Force Base
and certain areas in proximity thereto as authorized by Health and
Safety Code Section 33320.5; and
WHEREAS, the IVDA has previously caused the adoption of
a Redevelopment Plan (the "Redevelopment Plan") for the Inland
Valley Redevelopment Project for the purposes of undertaking the
redevelopment of Norton Air Force Base and certain areas in
proximity thereto; and
WHEREAS, Article 4 of Chapter 5 of Division 7 of Title 1
of the Government Code of the State of California (the "Marks-Roos
Local Bond Pooling Act of 1985") authorizes and empowers the
Authority to, among other things, issue bonds to provide funds for
the financing of pUblic capital improvements, working capital,
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liability and other insurance needs, or projects whenever there are
c:> significant public benefits, make secured and unsecured loans to
public bodies, including but not limited to the IVDA, to finance
capital improvement projects, working capital or insurance programs
to refinance indebtedness of public bodies incurred in connection
with public capital improvements undertaken and completed by such
public bodies; and
WHEREAS, the Marks-Roos Local Bond Pooling Act of 1985
further authorizes and empowers the Authority to sell such bonds to
public or private purchasers at pUblic or negotiated sale.
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NOW, THEREFORE, the Parties
consideration of the mutual promises
contained, do agree as follows:
hereto, for
and agreements
and in
herein
SECTION 1.
DEFINITIONS.
Unless the context otherwise requires, the terms defined
in this section 1 shall for all purposes of this Agreement have the
meanings herein specified.
Authoritv
The term "Authority" shall mean the
San Bernardino/Colton/Loma Linda Joint Powers Financing Authority
created by this Agreement.
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Board
The term "Board" shall mean the governing board of the
Authority.
Colton RDA
The term "Colton RDA" shall mean the Redevelopment Agency
of the City of Colton, a public body, duly organized and existing
under and by virtue of the laws of the state of California.
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The term "IVDA" shall mean the Inland Valley Development
Agency, a Joint Powers Authority duly created in accordance with
the provisions of the Joint Exercise of Powers Act.
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The term "Law" shall mean Articles 1, 2, 3 and 4 of
Chapter 5 of Division 7 of Title 1 of the Government Code of the
state of California (Sections 6500-6599), including the Marks-Roos
Local Bond Pooling Act of 1985, as amended.
Loma Linda RDA
The term "Loma Linda RDA" shall mean the Redevelopment
Agency of the City of Loma Linda, a public body, duly organized and
existing under and by virtue of the laws of the State of
California.
SBBOIOU3\JlOC.4
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Parties
o The term "Party" or "Parties" shall mean each or all
(respectively) of the Parties to this Agreement.
San Bernardino RDA
The term "San Bernardino RDA" shall mean the
Redevelopment Agency of the City of San Bernardino, a pUblic body,
duly organized and existing under and by virtue of the laws of the
State of California.
SECTION 2.
PURPOSE.
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This Agreement is made pursuant to the Law to provide for
the joint exercise of powers common to the Parties for the purpose
of assisting in the financing and refinancing public capital
improvements and working capital of the IVDA in connection with its
implementation of the Redevelopment Plan by exercising the powers
referred to in the recitals hereof and described in Section 5
herein.
The Parties desire and are willing to assist in the
financing and refinancing of public improvement costs and working
capital costs incurred and associated with public capital
improvements undertaken by the IVDA.
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To accomplish the foreqoinq, the Parties hereby aqree to
loan certain moneys in a total amount equal to Fifty Thousand
Dollars ($50,000) to the Authority in the followinq amounts which
moneys shall be used to fund the activities and obliqations of the
Authority and which loan shall be evidenced by a separate Loan
Aqreement between each of the Parties and the Authority:
San Bernardino RDA $ 46,040
Colton RDA $ 1,530
Loma Linda RDA S 2.430
TOTAL $ 50,000
In addition to the foreqoinq, the Authority will fulfill the
purposes of this Aqreement by undertakinq the sale and issuance of
notes and bonds in accordance with the Marks-Roos Local Bond
Poolinq Act of 1985. Pursuant to the Law, the proceeds of any such
notes and bonds issued by the Authority shall be used for those
purposes permitted under the Law, includinq but not limited to, the
purpose of makinq secured and unsecured loans to the IVDA to
finance or refinance indebtedness of the IVDA, includinq, but not
limited to administrative expenses of the IVDA incurred in
connection with pUblic capital improvements to be undertaken by the
IVDA and other uses as may be permitted under the Community
Redevelopment Law. The Parties hereby aqree that any such notes
and bonds issued by the Authority shall not constitute qeneral
obliqations of the Authority but shall be payable solely from the
moneys pledqed to the repayment of principal of or interest on such
notes and bonds under the terms of this Aqreement and any
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resolution, indenture, trust agreement, loan agreement or other
instrument pursuant to which the notes or bonds are issued and in
accordance with the percentages as hereinafter described.
The Parties hereby agree to pledge moneys to guarantee
repayment of indebtedness or other obligations incurred by the
Authority which pledge of moneys shall be calculated amongst the
Parties based upon the following percentages:
San Bernardino RDA = 92.08\
Colton RDA = 3.06\
Loma Linda RDA = 4.86\
TOTAL = 100\
Any such pledge of moneys to the Agency which would
obligate any Party hereto would require the affirmative vote of the
representative of such Party.
SECTION 3.
nBH.
This Agreement shall become effective as of the date
hereof and shall continue in full force and effect until August 1,
2021, unless terminated earlier by the Parties; provided, however,
that in no event shall this Agreement terminate while any notes or
bonds of the Authority remain outstanding under the terms of the
resolution, indenture, trust agreement, loan agreement or other
instrument pursuant to which such notes or bonds are issued. In
any event, the Authority shall cause all records regarding its
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formation, existence, any notes or bonds issued by it and
0 proceedings pertaining to its termination to be retained for at
least six (6) years following termination of the Authority or final
payment of any bonds issued by the Authority, whichever is later.
SECTION 4.
AUTHORITY.
A. Creation of Authoritv
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There is hereby created pursuant to the Law an agency and
public entity to be known as the "San Bernardino / Colton / Loma
Linda Joint Powers Financing Authority." As provided in the Law,
the Authority shall be a public entity formed upon approval and
execution of this Agreement by each of the Parties hereto. The
debts, liabilities and obligations of the Authority incurred for
the purpose of loaning the proceeds thereof to the IVDA shall
constitute debts, liabilities or obligations of the Parties
hereunder in the manner and in the respective percentages as set
forth in Section 2 hereof.
within thirty (30) days after the effective date of this
Agreement or any amendment hereto, the Authority will cause a
notice of this Agreement or amendment to be prepared and filed with
the office of the Secretary of State of the State of California in
the manner set forth in Section 6503.5 of the Law.
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B. Governina Board
The Authority shall be administered by the Board, which
shall consist initially of the Executive Directors of the Colton
RDA and the Loma Linda RDA and the Agency Administrator of the
Economic Development Agency of the City of San Bernardino,
respectively. The term of office of any member of the Board shall
be coterminous with their employment in such above referenced
position with each respective Party unless any Party desires to
designate an alternative representative pursuant to official action
by the Governing Board of such Party.
Members of the Board shall not receive any compensation
for serving as such, but shall be entitled to reimbursement for any
expenses actually incurred in connection with serving as a member
if the Board shall determine that such expenses shall be reimbursed
and there are unencumbered funds available for such purpose.
C. Meetinas of Board
(1) Reaular Meetinas. The Board shall hold at
least one regular meeting each year, and, by resolution, may
provide for the holding of regular meetings at more frequent
intervals. The date upon which, and the hour and place at which,
each such regular meeting shall be held shall be fixed by
resolution of the Board.
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(2) Leaal Notice. All meetings of the Board shall
4:) be called, noticed, held and conducted subject to the provisions of
the Ralph M. Brown Act (Chapter 9 of Part 1 of Division 2 of
Title 5 of the Government Code of the state of California
(Sections 54950-54961)) or any successor legislation hereinafter
enacted.
(3) Minutes. The secretary of the Authority shall
cause minutes of all meetings of the Board to be kept and shall, as
soon as possible after each meeting, cause a copy of the minutes to
be forwarded to each member of the Board and to each of the Parties
hereto.
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(4) Ouorum. A majority of the members of the
Board shall constitute a quorum for the transaction of business,
except that less than a quorum may adjourn meetings from time to
time.
D. Officers: Duties
(1) The Agency Administrator of the Economic
Development Agency of the City of San Bernardino shall serve as
Chairperson of the Authority, and the Board shall elect from its
membership those individuals who shall serve as Vice-Chairperson
and Secretary of the Authority in accordance with its Bylaws.
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(2) The Administrative Services Manager of the San
Bernardino RDA is hereby designated as Treasurer of the Authority.
Subject to the applicable provisions of any indenture, trust
agreement or resolution providing for a trustee or other fiscal
agent, the Treasurer is designated as the depositary of the
Authority to have custody of all of the money of the Authority,
from whatever source, and, as such, shall have the powers, duties
and responsibilities specified in Section 6505.5 of the Law.
(3) The Administrative Services Manager of the San
Bernardino RDA is hereby designated as Controller of the Authority,
and, as such, shall have the powers, duties and responsibilities
specified in Section 6505.5 of the Law. The Controller shall draw
checks to pay demands against the Authority when the demands have
been approved by the Authority.
(4) The San Bernardino RDA shall determine the
charges to be made against the Authority for the services of the
Treasurer and Controller. and such charges shall be subject to the approval
of the Board.
(5) The Treasurer of the Authority is designated as
the public officer or person who has charge of, handles, or has
access to any property of the Authority, and such officer shall
file an official bond in the amount of $25,000 as required by
Section 6505.1 of the Law; provided that such bond shall not be
required if the Authority does not possess or own property or funds
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with an aggregate value of greater than $500.00 and provided
further that the cost of any such official bond shall be paid by
the Authority.
(6) The Controller of the Authority is hereby
authorized and directed to prepare or cause to be prepared:
(a) a special audit as required pursuant to
Section 6505 of the Government Code of the State of California
every year during the term of this Agreement; and
(b) a report in writing on the first day of
July, October, January and April of each year to the Board and the
Parties hereto, which report shall describe the amount of money
held by the Treasurer and Controller of the Authority for the
Board, the amount of receipts since the last such report, and the
amount paid out since the first such report.
(7) The Board shall have the power to appoint such
other officers and employees as it may deem necessary and to retain
independent counsel, consultants and accountants.
SECTION 5.
POWERS.
The Authority shall have the power to finance and
refinance public capital improvements, related working capital
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costs, administrative expenses and the payment of other costs and
expenses as permitted by the Community Redevelopment Law and the
Law through the issuance of notes, bonds and other forms of
indebtedness for the purposes set forth in Section 2 hereof, all in
accordance with the Law.
The Authority is authorized, in its own name, to do all
acts necessary for the exercise of said powers for said purposes,
including but not limited to any or all of the following: to make
and enter into contracts; to employ agents and employees; and to
sue and be sued in its own name.
Such power shall be exercised subject only to such
restrictions upon the manner of exercising such power as are
imposed upon the San Bernardino RDA in the exercise of similar
powers, as provided in Section 6509 of the Law, except, however,
nothing herein shall limit the powers of the Authority under the
Marks-Roos Local Bond Pooling Act of 1985.
Notwithstanding the foregoing, the Authority shall have
any additional powers conferred under the Law, insofar as such
additional powers may be necessary to accomplish the purposes set
forth in Section 2 hereof.
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SECTION 6.
TERMINATION OF POWERS.
The Authority shall continue to exercise the powers
herein conferred upon it until the termination of this Agreement as
provided in Section 3 or until the Parties shall have mutually
rescinded this Agreement; provided, however, that in no event shall
this Agreement be terminated or rescinded during any period of time
that any bonds of the Authority remain outstanding under the terms
of the Trust Agreement or other instrument pursuant to which the
bonds are issued.
SECTION 7.
FISCAL YEAR.
Unless and until changed by resolution of the Board, the
fiscal year of the Authority shall be the period from July 1 of
each year to and including the following June 30.
SECTION 8.
DISPOSITION OF ASSETS.
At the end of the term hereof or upon the earlier
termination of this Agreement as set forth in Section 6 hereof or
upon dissolution of the Authority, all assets of the Authority
shall be distributed to each of the Parties in proportion to their
respective contributions.
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SECTION 9.
CONTRIBUTIONS AND ADVANCES.
Contributions or advances of public funds and of
personnel, equipment or property may be made to the Authority by
any Party for any of the purposes of this Agreement. Payment of
public funds may be made to defray the cost of any such
contribution. Any such advance shall be made SUbject to repayment,
and shall be repaid, in the manner agreed upon by the Parties, as
the case may be, and the Authority at the time of making such
advance. It is mutually understood and agreed that none of the
Parties has any obligation to make advances or contributions to the
Authority to provide for the costs and expenses of administration
of the Authority, even though any Party may do so. The Parties may
allow the use of personnel, equipment or property in lieu of other
contributions or advances to the Authority. After termination of
this Agreement pursuant to Section 3, any surplus money in
possession of the Authority shall be returned to the Parties in
proportion to the reimbursed contributions each has made.
SECTION 10.
AGREEMENT NOT EXCLUSIVE.
This Agreement shall not be exclusive and shall not be
deemed to amend or alter the terms of other agreements among the
Parties, except as the terms of this Agreement may conflict
therewith, in which case the terms of this Agreement shall prevail.
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SECTION 11.
ACCOUNTS AND REPORTS.
The Authority shall establish and maintain such funds and
accounts as may be required by good accounting practice. The books
and records of the Authority shall be open to inspection at all
reasonable times by the Parties and their representatives. The
Authority shall give an audited written report of all financial
activities for each fiscal year to each Party within 150 days after
the close of each fiscal year.
So long as required by Section 6505 of the Government
Code of the State of California, the Controller of the Authority
shall either make, or contract with a certified public accountant
or public accountant to make, an annual audit of the accounts and
records of the Authority. In each case the minimum requirements of
the audit shall be those prescribed by the State Controller for
special districts under Section 26909 of the Government Code of the
State of California and shall conform to generally accepted
auditing standards. When such an audit of an account and records
is made by a certified public accountant or public accountant, a
report thereof shall be filed as public records with the Parties,
and, if required by Section 6505 of the Government Code of the
State of California, with the County Auditor/ContrOller of the
County of San Bernardino. Such report shall be filed within 12
months of the end of the fiscal year or years under examination.
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Any costs of the audit, including contracts with, or
c:> employment of, certified public accountants or public accountants,
in making an audit pursuant to this section shall be borne by the
Authority and shall be a charge against any unencumbered funds of
the Authority available for the purpose.
In any year the Authority may, by unanimous request of
the Board, replace the annual special audit with an audit covering
a two-year period.
SECTION 12.
CONFLICT OF INTEREST CODE.
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The Authority by resolution shall adopt a Conflict of
Interest Code as required by law.
SECTION 13.
BREACH .
If default shall be made by the any Party hereto in any
covenant contained in this Agreement, such default shall not excuse
such party from fulfilling its obligations under this Agreement and
the Parties shall continue to be liable for their performance of
all conditions herein contained. The Parties hereby declare that
this Agreement is entered into for the benefit of the Authority
created hereby and the Parties hereby grant to the Authority the
right to enforce by whatever lawful means the Authority deems
appropriate all of the obligations of each of the Parties
o
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hereunder. Each and all of the remedies given to the Authority
o hereunder or by any law now or hereafter enacted are cumulative and
the exercise of one right or remedy shall not impair the right of
the Authority to any or all other remedies.
SECTION 14.
SEVERABILITY.
Should any part, term or provision of this Agreement be
decided by the courts to be illegal or in conflict with any law of
the State of California, or otherwise be rendered unenforceable or
ineffectual, the validity of the remaining parts, terms or
provisions hereof shall not be affected thereby.
SECTION 15.
SUCCESSORS: ASSIGNMENT.
o
This Agreement shall be binding upon and shall inure to
the benefit of the successors of the Parties. Except to the extent
expressly provided herein, no Party may assign any right or
obligation hereunder without the consent of the others.
SECTION 16.
AMENDMENT OF AGREEMENT.
This Agreement may be amended by supplemental agreement
executed by the Parties at any time to provide for the financing of
public capital improvements, working capital, liability and other
insurance needs, or projects whenever there are significant public
o
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benefits, as determined by the Parties in accordance with the Law
c:> or for any other purpose; provided, however, that in no event shall
this Agreement terminate while any notes or bonds of the Authority
remain outstanding under any instrument pursuant to which such
notes or bonds are issued.
SECTION 17.
FORM OF APPROVALS.
o
Whenever an approval is required in this Agreement,
unless the context specifies otherwise, it shall be given, by
resolution or motion duly and regularly adopted by the members of
the applicable Party, and, in the case of the Authority, by
resolution duly and regularly adopted by the Board. Whenever in
this Agreement any consent or approval is required, the same shall
not be unreasonably withheld.
SECTION 18.
SECTION HEADINGS.
All section headings contained herein are for convenience
of reference only and are not intended to define or limit the scope
of any provision of this Agreement.
o
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IN WITNESS WHEREOF, the parties hereto have caused this
o agreement to be executed and attested by their proper officers
thereunto duly authorized, and their official seals to be hereto
affixed, as of the day and year first above written.
o
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REDEVELOPMENT AGENCY OF THE
CITY OF COLTON
Executive Director
APPROVED AS TO FORM AND
LEGAL CONTENT:
AGENCY COUNSEL
By:
REDEVELOPMENT AGENCY OF
THE CITY OF LOMA LINDA
Executive Director
APPROVED AS TO FORM AND
LEGAL CONTENT:
AGENCY COUNSEL
By:
REDEVELOPMENT AGENCY OF
THE CITY OF SAN BERNARDINO
Agency Administrator
APPROVED AS TO FORM AND
LEGAL CONTENT:
AGENC~Y COUNSEL
By: _----=~&... J
./
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CERTIFICATE OF THE SECRETARY OF THE
SAN BERNARDINO I COLTON I LOMA LINDA
JOINT POWERS FINANCING AUTHORITY
I, , Secretary of the San
Bernardino I Colton I Loma Linda Joint Powers Financing Authority
(the "Authority"), hereby certify that the foregoing Joint Exercise
of Powers Agreement, dated , 1991 (the "Agreement")
is a full, true and correct copy of the Agreement duly executed by
the Authority.
I further certify that I have carefully compared the
foregoing copy with the original on file and of record in may
office; that said copy is a full, true and correct copy of the
original Agreement executed by the Authority; and that said
Agreement has not been modified, rescinded or revoked in any manner
since the date of its execution, and the same is now in full force
and effect.
Dated:
, 1991.
Secretary of the
San Bernardino I Colton I Loma Linda
Joint Powers Financing Authority
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EXHIBIT "B"
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AUTHORITY LOAN AGREEMENT
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AUTHORITY
LOAN AGREEMENT
This Loan Agreement is entered into as of the ___ day of
August, 1991, by and between the Redevelopment Agency of the City
of San Bernardino (the "Agency") a redevelopment agency, being a
public body, corporate and politic, duly organized and existing
under the laws of the State of California and the San
Bernardino/Colton/Loma Linda Joint Powers Financing Authority (the
"Authority"), a joint powers authority, duly organized and existing
under the Constitution and laws of the State of California.
R E C I TAL S
A. The Agency is a redevelopment agency duly created,
4:) established and authorized to transact business and exercise its
power, all under and pursuant to the California Community
Redevelopment Law (Part 1 of Division 24) of the Health and Safety
Code of the State of California (the "Act").
B. The Authority is a joint powers authority duly
created, established and authorized to transact business and
exercise its powers, in accordance with the California Joint
Exercise of Powers Act and a certain joint powers agreement (the
"Agreement") to which the Agency is a Party.
o
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c. The Inland Valley Development Agency ("IVDA") has
o previously been created as a joint powers authority for the
purposes, among other things, of undertaking the redevelopment of
Norton Air Force Base and certain areas in proximity thereto and in
connection therewith, the IVDA has caused the adoption of the
Redevelopment Plan for the Inland Valley Redevelopment Project (the
"Redevelopment Plan").
D. The Authority was formed for the purpose of
assisting in financing the activities of the IVDA in causing the
implementation of the Redevelopment Plan.
o
E. The Agency deems it desirable to loan certain moneys
to the Authority in order that the Authority be able to exercise
its powers under the Agreement and to assist the IVDA in the
implementation of the Redevelopment Plan and the payment of
administrative costs in connection therewith.
NOW, THEREFORE, in consideration of the foregoing and
mutual covenants and conditions set forth herein, the parties
hereto agree as follows:
1. Aaencv Loan. The Agency hereby agrees to loan to
the Authority an amount equal to Forty-Six Thousand Forty Dollars
($46,040) (the "Loan") on the following terms:
o
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a. Loan proceeds will be used exclusively by the
4:) Authority for the purposes of assisting the IVDA in the initiation
of undertaking redevelopment activities within the project area by
the payment of administrative expenses of the IVDA subject to the
Redevelopment Plan and in conformity with the California Community
Redevelopment Law and such Redevelopment Plan.
b. The term of the Loan shall be for approximately
three (3) years, with the principal amount of the Loan due,
together with accrued interest thereon, on July 31 1994. The
Authority shall have the right to prepay all or part of the Loan
plus accrued interest without penalty.
o
c. Interest shall accrue at the rate of 7.5% per annum
from the date that the funds are advanced to the Authority, and
will continue until the debt is paid in full.
2. ReDayment. The Authority agrees to repay the
Agency for the Loan created pursuant to this Agreement from and to
the extent that funds are available as tax increment revenues
generated from the project area which is subject to the
Redevelopment Plan and as such revenues become available to the
Authority from repayment by the IVDA.
o
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3. Miscellaneous.
a. This Loan Agreement shall bind and inure to the
benefit of the successors and assigns of each of the parties
hereto.
b. Each party agrees to perform any further acts and
execute and deliver any documents which may be necessary to carry
out the provisions or intent of this Loan Agreement.
c. This Loan Agreement may be amended at any time by
the written agreement of the parties hereto. No amendment or
waiver of the terms hereof shall be valid unless contained in
writing and executed by the parties to this Loan Agreement.
d. The parties hereby agree that this Loan Agreement
has been executed and delivered in the state of California and
shall be construed, enforced and governed by the laws thereof.
e. In the event that any provision in this Loan
Agreement shall be held invalid or unenforceable, such provision
shall be severable from, and such invalidity or unenforceability
shall not be construed to have any effect on, the remaining
provisions of this Loan Agreement.
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f. This Loan Agreement contains the entire agreement
o between the parties hereto pertaining to the subject matter hereof,
with the exception of the other agreements referenced explicitly or
implicitly herein. This Loan Agreement supersedes all prior and
contemporaneous agreements and understandings of the parties with
respect to the matters resolved herein, and there are no
warranties, representations or other agreements between the parties
in connection with the sUbject matter hereof, except as set forth
or referred to herein.
IN WITNESS WHEREOF, the parties have signed this Loan
Agreement as of the date first above written.
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REDEVELOPMENT AGENCY OF
THE CITY OF SAN BERNARDINO
By:
SAN BERNARDINO/COLTON/LOMA LINDA
JOINT POWERS FINANCING AUTHORITY
By:
o
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1 EXHIBIT "c"
0 2 NOTICE OF EXEMPTION
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Notice of Exemption
Appendix I
0:0
Office ofPllllninS andR~
1400 Tenlll SII'C:Ct, Room 121
Sacramento, CA 9$814
From: (Public Asency) Redevelopment Agency of the
201 N. "E" St.. THii! ~fog~n Bernard1no
San Bernardino, CA~1-1507
1iI
C01IIIty ClerIc
County of San Bernardino
351 N. Arrowhead Avenue, Room 200
San Bernardino. CA 92415-0240
e
Project Title: San Bernardino/Colton/Loma Linda Joint Exercise of Powers Agreement
projeet Location. ~IfIC: Within the jurisdictions of the Members of the JPA' s
Project Location. City:
Project Location . COunty;
San Bernardino
DeSCriptIon of Project: Formation of a Joint Powers Financing Authority by the Redevelopment
A~encies of the Cities of San Bernardino. Colton and Loma Linda
"""e of Pubnc Agency Approving Project: Redevelopment Agency of the City of Colton; Redevelopment
.., Agency of the City at Loma L:1naa; 6: KeaeVe.Lupmetu.. ~ency
Name of Person or Agency cartylng OUt Project: SAME of the City of San Bernardino
Exempt Status: (CMd:OM)
o MInisterial (See. 21080(bXl); 15268):
o Declared EniefgellGf (See. 21080(b)(3); 15269(a));
o Emergency Project (See. 21080(bX4); 1S269(bXc:));
1]1 Carcgaricall!xcmpcion. SlaIC type aod ICdiaa 1IIImber. CEQA Guidelines: Sec t ion 15320
o SlalIItory Exell\pdons. SlaIC code IllIlIIbet:
Reasone why project Is exempt: This is a reorganization of existing entities. It does not
increase or affect the powers which each of the Members already has authority to exercise.
Lead Agency Timothy C. Steinhaus
ColllaCt PenJOn:Agency Administrator An=a CocItITelcpllonelExlellSion: (714) 384-5081
San Bernardino Keaeve~opmen~ agency
If filed b1 appllcaDt:
I. Attach cenlficd docamcnt of ezcmption lindlDs.
2. Has a notic:e or eumptiou been filed by 1IIe pabIlc a&ellCY approvinJ the projecl? 0 Yes 0 No
~ .
ID Signed by Lead Aaenc:Y
C1 s_..,. .....""'.......
Dale:
T1lIe;
Agency Administrator
Dale teeeivcd tor fiIiDa aI OPR:
EXHIBIT "c"
..--::-'_.~