HomeMy WebLinkAboutRES 15-6981 (JOINT HB PUBLIC FINANCING AUTHORITY)1
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RESOLUTION NO. 15-6981
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
HERMOSA BEACH, CALIFORNIA, AUTHORIZING EXECUTION AND
DELIVERY OF JOINT EXERCISE OF POWERS AGREEMENT
ESTABLISHING THE HERMOSA BEACH PUBLIC FINANCING
AUTHORITY
SECTION 1. Recitals
The City of Hermosa Beach (the "City") and the Parking Authority of the City of Hermosa Beach
("Parking Authority") are considering obtaining financing for various projects.
In order to obtain such financing in an efficient and economical manner, the City and the
Authority wish to form a joint powers authority under Article 1 (commencing with Section 6500
of Chapter 5, Division 7, Title 1 of the Government Code of the State of California (collectively
Articles 1, 2, 3 and 4 of such Chapter, the "Joint Powers Law")
The City Council of the City wishes at this time to approve the formation of a joint powc
authority to be designated the "Hermosa Beach Public Financing Authority" by entering into
Joint Exercise of Powers Agreement with the Parking Authority.
SECTION 2. Approval of Joint Exercise of Powers Agreement.
The City Council hereby approves the Joint Exercise of Powers Agreement with the Parking
Authority dated the date hereof, under which the Hermosa Beach Public Financing Authority is
established in accordance with the Joint Powers Law, in substantially the form on file with the
Clerk, together with any changes thereto as are approved by the Mayor, Mayor Pro Tempore,
Manager or Finance Director or the written designee of any of them (each, an "Autho
Officer"), whose execution thereof shall be conclusive evidence of such approval.
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15-6981
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SECTION 3. This Resolution shall take effect immediately upon its passage and
adoption. The City Clerk shall certify to the passage and adoption of this Resolution; shall enter
the same in the book of original Resolutions; and shall make a minute of the passage and adoption
thereof in the records of the proceedings of the City Council meeting at which the same is passed
and adopted.
PASSED, APPROVED AND ADOPTED this 14th day of July, 2015.
PRESIDENT of the City Council and
ATTEST:
City Clerk f
YOR of the City of Hermosa Beach, California
APPROVED AS TO FORM:
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M4110"
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES
CITY OF HERMOSA BEACH
I, Elaine Doerfling, City Clerk of the City of Hermosa Beach, California, do
hereby certify that the foregoing Resolution No. 15-6981 was duly and regularly passed,
approved and adopted by the City Council of the City of Hermosa Beach at a Regular
Meeting of said Council at the regular place thereof on July 14, 2015.
The vote was as follows:
AYES: DiVirgilio, Petty, Tucker
NOES: Fangary, Mayor Barragan
ABSTAIN: None
ABSENT: None
Dated July 14, 2015
---- t.-A /wn
Elaine Doerfling, City C rk