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Home My WebLink About2013/07/16 Item 08Revised 7/12/13 CITY COUNCIL AGENDA STATEMENT ~~ CITY OF CHULAVISTA JULY 16, 2013, Item g ITEM TITLE: RESOLUTION OF THE CHULA VISTA MUNICIPAL FINANCING AUTHORITY ESTABLISHING REGULAR MEETING DATE SUBMITTED BY: DIRECTOR OF FINANCE/TREASUREl REVIEWED BY: CITY MANAGER ASSISTANT CITY AGER 4/STHS VOTE: YES ~ NO ^X SUMMARY On June Il, 2013, the City Council adopted Resolution 2013-110 establishing the Municipal Financing Authority, a Joint Powers Authority composed of the City of Chula Vista and City of Chula Vista Housing Authority. The regular meeting date was set as the first Tuesday of the month. Approval of this item will establish the regular meeting date as the fourth Tuesday of the month. ENVIRONMENTAL REVIEW The Environmental Review Coordinator has reviewed the proposed activity for compliance with the California Environmental Quality Act (CEQA) and has detemuned that changing the regular meeting date is not a "ProjecP' as defined under Section 15378 of the State CEQA Guidelines because it will not result in a physical change to the environment; therefore, pursuant to Section 15060(c)(3) of the State CEQA Guidelines the actions proposed are not subject to CEQA. RECOMMENDATION Municipal Financing Authority approves the resolution. BOARDS/COMMISSION RECOMMENDATION Not Applicable 8-1 JULY 16, 2013 Page 2 of 2 DISCUSSION The Chula Vista Municipal Financing Authority (the "Authority") is a joint exercise of powers authority organized and existing under Article 1 and Article 4 of Chapter 5 of Division 7 of Title 1 of the Government Code of the State of California (the "JPA Act") for the purpose of assisting the City in the financing of the construction, reconstruction, modernization and equipping of certain capital improvements on behalf of the City. Government Code Section 6592.1 became effective on January 1, 2010 and provides that the Authority may adopt a resolution authorizing bonds or any issuance of bonds or accepting the benefit of any bonds or the proceeds of bonds only during a regular meeting of the Authority held pursuant to Government Code Section 54954. The Authority had established a "regular meeting" date when it was created as the first Tuesday of the month. The approval of this resolution will establish a regular meeting date for the Authority that will become the fourth Tuesday of the month. In the event that the fourth Tuesday meeting of the City Council are changed such that the fourth Tuesday of each month is no longer a regular meeting date of the City Council, then the regular meetings of the Authority shall, without further action by the Board of Directors, be changed to be the same date and time as the first regular City Council meeting of each month DECISION MAKER CONFLICT Staff has reviewed the decision contemplated by this action and has determined that it is not site specific and consequently, the 500-foot rule found in California Code of Regulations section 18704.2(a)(1) is not applicable to this decision. Staff is not independently aware, nor has staff been informed by any City Councilmember, of any other fact that may constitute a basis for a decision maker conflict of interest in this matter. CURRENT YEAR FISCAL IMPACT There is no fiscal impact as a result of establishing a new regular meeting of the Chula Vista Municipal Financing Authority. ONGOING FISCAL IMPACT There is no on-going fiscal impact as a result of establishing a new regular meeting of the Chula Vista Municipal Financing Authority. ATTACHMENTS None Prepared by: Phillip Davis, Assistant Director ofFlnance, Finance Department 8-2 RESOLUTION NO. RESOLUTION OF THE CHULA VISTA MUNICIPAL FINANCIIJG AUTHORITY ESTABLISHING REGULAR MEETING DATES WHEREAS, the Chula Vista Municipal Financing Authority (the "Authority") is a joint exercise of powers authority organized and existing under Article 1 and Article 4 of Chapter 5 of Division 7 of Title 1 of the Government Code of the State of California (the "JPA Act") for the purpose of assisting the City of Chula Vista (the "City") in the financing of the construction, reconstruction, modernization and equipping of certain capital improvements on behalf of the City; and WHEREAS, the Authority is governed by the terms of the Joint Exercise of Powers Agreement (the "JPA Agreement") dated as of June 11, 2013 by and between the City and the Housing Authority of the City of Chula Vista; and WHEREAS, to fulfill its purposes, the Authority, from time to time, authorizes the issuance of bonds pursuant to the JPA Act; and WHEREAS, Government Code Section 6592.1 provides that the Authority may adopt a resolution authorizing bonds or any issuance of bonds or accepting the benefit of any bonds or the proceeds of bonds only during a regular meeting of the Authority held pursuant to Government Code Section 54954; and WHEREAS, Section 2.03 (d) of the JPA Agreement provides that the Authority may by resolution amend the provisions of Section 2.03(d) regarding the regular meeting dates of the Authority without amending the JPA Agreement; and WHEREAS, the Authority desires to adopt this resolution in accordance with the provisions of Section 2.03(d) of the JPA Agreement and Government Code Section 54954 to establish regular meeting dates for the Authority. NOW, THEREFORE, the Board of Directors of the Authority does hereby resolve as follows: SECTION 1. Recitals. Each of the foregoing recitals is true and correct. SECTION 2. ReQUlar Meeting Dates. Notwithstanding any provision to the contrary in Section 2.03(d) of the JPA Agreement or in any prior resolutions or actions of the Board of Directors of the Authority, from the date hereof, the regular meetings of the Authority shall be held at 2:00 p.m. on the fourth Tuesday of each month, and may be held as a joint meeting with the City Council of the City; provided, however, if the regular meeting dates and times of the City Council of the City are changed such that the fourth Tuesday of each month is no longer a regular meeting date of the City Council, then the regulaz meetings of the Authority shall, 7:\Attorney\FINAL RESOS AND ORDINANCES\2013\07 16 13\DOCSOC-#1632912-v]- RESOLUTION OF_AUTHORITY_RE_REGULAR_MEETING_DATES.doc 7/12/2013 8:49 AM 8-3 Resolution No. Page 2 without further action by the Board of Directors, be changed to be the same date and time as the first regular City Council meeting of each month. In the event that the Secretary determines that there is no business of the Authority to be conducted at a regular meeting, then the Chair, the Secretary and other officers of the Authority are authorized to take whatever actions are required by law to cancel such regularly scheduled meeting. SECTION 3. Other Actions. The Chairman, Vice Chairman, Executive Director, Chief Financial- Officer and Secretary of the Authority are authorized and directed, jointly and severally, to do any and all things which they may deem necessary or advisable in order to effectuate the purposes of this Resolution, and such actions previously taken by such officers are hereby ratified and confirmed. SECTION 4. Effect. This Resolution shall take effect from and after its date of adoption. Presented by Maria Kachadoorian Director of Finance/Treasurer Approved as to form by G1 n R. a gins Cit ttorn J:\Attorney\FINAL RESOS AND ORDINANCES\2013\07 16 13\DOCSOC-# 16329 ] 2-v 1- RESOLUTION OF AUTHORITY RE REGULAR MEETING DATES.doc 7/12/2013 8:49 AM- - - - - 8-4