HomeMy WebLinkAboutResolution No. 6229 RESOLUTION NO. 6229
RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF DOWNEY APPROVING ASSOCIATE
MEMBERSHIP IN THE INDEPENDENT CITIES LEASE
FINANCE AUTHORITY (ICLFA) AND APPROVING
PARTICIPATION IN ICLFA HOME MORTGAGE
FINANCING PROGRAMS
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");
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 and/or equipping of public capital
improvements; and
WHEREAS, the City of Downey desires to become an Associate Member of
the Authority as provided in the Associate Membership Agreement, in the form on
file with the City Clerk;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF DOWNEY, as follows:
Section 1. Approval of Associate Membership Agreement. The City
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 forming the
Authority, in substantially the form on file with the City Clerk.
Section 2. Official Actions. The City Manager is hereby authorized and
directed to take all actions and do all things necessary or desirable hereunder with
respect to the Associate Membership Agreement, including but not limited to the
execution and delivery of any and all agreements, certificates, instruments and other
documents, which they, or any of them, may deem necessary or desirable and not
inconsistent with the purposes of this Resolution.
Section 3. Effective Date. This Resolution shall take effect immediately
upon its adoption by the City Council, and the City Clerk shall certify the vote
adopting this Resolution.
•
RESOLUTION NO. 6229
APPROVED AND ADOPTED this 12th day of January, 1999.
. \A I •
Gary P. cCaughan, or
ATTEST
2?e,ex4t.tee_
•ith E. McDonnell, City Clerk
I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the
City Council of the City of Downey at a regular meeting hereof, held on the 12th
day of January, 1999 the following vote, to wit:
YES: 5 Council Members Lawrence, McCarthy, Perkins, Winningham,
McCaughan
NOES: 0 Council Members None
ABSTAINED: 0 Council Members None
ABSENT: 0 Council Members None
'. ,, ' / 5hie,,,,,„6
41•ith E. McDonnell, City Clerk