Res 08-037
RESOLUTION NO 08-037
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF POWAY, CALIFORNIA,
APPROVING, AUTHORIZING, AND DIRECTING THE
EXECUTION OF A JOINT EXERCISE OF POWERS
AGREEMENT RELATING TO THE CALIFORNIA
MUNICIPAL FINANCE AUTHORITY
WHEREAS, the City of Poway, Califomia (the "City"), has expressed an interest
In participating in economic development, cultural and community development
financing programs (the "Programs") in conjunction with the parties to that certain Joint
Exercise of Powers Agreement Relating to the California Municipal Finance Authority,
dated January 1, 2004 (the "Agreement"), and
WHEREAS, there is now before this City Council the form of the Agreement; and
WHEREAS, the City proposes to participate in the Programs and desires that
certain projects to be located within the City, including a proposed 52 unit multifamily
rental housing project, located at 12509 Oak Knoll Road in the City, for Oak Knoll
Housing Associates, L.P, or another limited partnership to be established by
Community Housing Works, a California non-profit corporation, or an affiliate thereof, be
financed pursuant to the Programs, and it is in the public interest and for the public
benefit that the City do so, and
WHEREAS, the Agreement has been filed with the City, and the members of the
City Council of the City, with the assistance of its staff, have reviewed said document;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Poway
as follows.
Section 1. The Agreement is hereby approved and the Mayor or the City
Manager or designee thereof is hereby authorized and directed to execute said
document, with such changes, insertions and omissions as may be approved by said
Mayor or City Manager, and the City Clerk or such Clerk's designee is hereby
authorized and directed to affix the City's seal to said document and to attest thereto
Sectiori.2. The Mayor, the City Manager, the City Clerk and all other proper
officers and officials ot the City are hereby authorized and directed to execute such
other agreements, documents and certificates, and to perform such other acts and
deeds, as may be necessary or convenient to affect the purposes of this Resolution and
the transactions herein authorized
Resolution No 08-037
Page 2
Section 3. The City Clerk of the City shall forward a certified copy of this
Resolution and an originally executed Agreement to
Harriet M. Welch, Esq.
Squire, Sanders & Dempsey LLP
801 South Figueroa Street, 14th Floor
Los Angeles, CA 90017
Section 4. This resolution shall take effect immediately upon its passage.
PASSED, ADOPTED AND APPROVED by the City Council of the City of Poway
at a regular meeting this 10th day of June, 2008 /
ATTEST
~L jJ ~ e-vtl~
Salam Hasenin, City Clerk
STATE OF CALIFORNIA )
)SS
COUNTY OF SAN DIEGO )
I, Salam Hasenin, City Clerk of the City of Poway, do hereby certify under penalty
of perjury that the foregoing Resolution No 08-037 was duly adopted by the City
Council at a meeting of said City Council held on the 10th day of June, 2008, and that it
was so adopted by the following vote.
AYES BOYACK, HIGGINSON, REXFORD, CAFAGNA
NOES NONE
ABSENT EMERY
DISQUALIFIED' NONE
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alam Hasenin, City Clerk
City of Poway