CC Resolution 9592
..
RESOLUTION NO. 9592
RESOLUTION OF THE CITY OF CAMPBELL AUTHORIZING THE
EXECUTION OF A JOINT EXERCISE OF POWERS AGREEMENT WITH THE
CITY OF CAMPBELL REDEVELOPMENT AGENCY, ESTABLISHING THE
CITY OF CAMPBELL PUBLIC FINANCING AUTHORITY
WHEREAS, the City of Campbell Redevelopment Agency (the" Agency") is proceeding
to issue its tax allocation bonds (the "Bonds") for the purpose of providing financing for a
downtown public parking facility; and
WHEREAS, in order to implement the financing plan for the Bonds it is desirable to
form a joint powers authority between the Agency and the City of Campbell (the "City") for the
purpose of creating a public agency which has the legal authority to negotiate the sale of the
Bonds from the Agency; and
WHEREAS, to that end the City Council of the City wishes at this time to approve the
execution and delivery of a Joint Exercise of Powers Agreement by and between the Agency and
the City, establishing the City of Campbell Public Financing Authority as 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 (the "Joint Powers Law");
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Campbell as
follows:
Section 1. Establishment of the City of Campbell Public Financing Authority. The City
Council hereby approves the establishment of the City of Campbell Public Financing Authority
(the "Financing Authority") under the Joint Powers Law, pursuant to the Joint Exercise of
Powers Agreement dated as of September 21, 1999, by and between the Agency and the City in
the form on file with the City Clerk. The appropriate officers of the City are hereby authorized
and directed to execute, and the City Clerk is hereby authorized and directed to attest and
affix the seal of the City to, such Joint Exercise of Powers Agreement in the name and on behalf
of the City.
Section 2. Authorization to Make Necessary Filings. The firm of Jones Hall, A
Professional Law Corporation, as bond counsel to the Agency, is hereby authorized and
directed to cause to be prepared, executed and filed any and all reports, statements and other
documents as may be required in order to implement the establishment of the Financing
Authority.
Section 3. Effective Date. This Resolution shall take effect immediately upon its
passage and adoption.
.'
********
I, the undersigned City Clerk of the City of Campbell, hereby certify that the foregoing is
a full, true and correct copy of a resolution duly adopted by the City Council of the City at a
regular meeting thereof on the 5th day of October, 1999, by the following vote of the members
thereof: .
AYES:
Council Member: Watson, Dougherty, Dean, Kennedy, Furtado
NOES:
Council Member: None
ABST AINED: Council Member:
None
&NA ~~\
M'
ayor
Daniel E. Furtado
ABSENT:
Council Member:
None
A~'~G'--
. CIty Clerk
Anne Bybee
- A2-