HomeMy WebLinkAbout2013/11/05 Item 02 _��.; ° °.3��
�_r_,_� -..
__�.---:��, CITY COUNCIL
, �- � - AGENDA STATEMENT
� �r����- �v�,
� � '"�`CHUL�AVISTA
I�'OVE�4BER �. 2013. Item 2
ITEA1 TTI'LE: �SOLUTI01�' OF THE CIILJLA VISTA NIUI�TICIPAL
FINAi\'CIi�'G AUTHORITY ESTr1BLISHIi�'G REGULAR
iV1EET�'G DATE
RESOLUTION OF THE CHULA VISTA PUBLIC
FINAI�'CI\TG AUTHORITY ESTABLISHI�i TG REGULAR
\�ET�'G DATE
SUBNIITTED B1': DIIZECTOR OF FL\Tt1\'CE/rREASURE�
REVIER'ED BY: CITY MANAGER
ASSISTANT CIT MA.\TAGER�
4hTHS �'OTE: YES � NO C
SUn�IA�1RY
On June 11, 20li, the Citv Council adopted Resolution 2013-110 establishing the Municipal
Financing Authoritv; a Joint Pow�ers Authoritv composed of the Cih� of Chula Vista and Cin� of
Chula Vista Housina Authority. The rewlaz meeting date was set as the fourth Tuesda�� of the
month.
On April 4; 199�; the Cin� Council adopted Resolution 178�2 establishine the Public Financine
Authorih, a Joint Powers Authorit�� composed of the City and the Redevelopment Agenc��. Thve
reQulaz meeting date�vas set as the fust Tuesday of the month.
Approval of this item will establish the reeular meeting date as the third Tuesday of the month
for both the Public Financing Authority and the Municipal Financing Authority.
ENVIRONMENTAL REVIE��'
The Em�ironmenial Revie«�Coordinator has revie�ved the proposed acti��ih�for compliance�i�th the
Califomia Em�ironmental Qualirv Act (CEQA) and has determined that chan2ing the rewlaz
meetina date is not a "Projecr' as defined under Section 15378 of the State CEQA Guidelines
because it ��ill not result in a ph}�sical chanee to the environment; therefore; pursuant to Section
1�060(c)(3)of the Siate CEQA Guidelines the actions proposed aze not subject to CEQA.
2-1
I
No�ember �. 2013
Page 2 of 3
RECOMMENDATION
L Municipal Financine Authorit}� approves the resolution.
2. Public Financing Authority approves the resolution.
BOARDS/COMMISSION RECOMMENDATION
Not Applicable
DISCUSSION
This item is an administrative action that will establish a regular meeting time and date for both
the Chula Vista Municipal Financing Authority (MFA) and the Chula Vista Public Financine
Authority (PFA) as the same time and date. The PFA is a joint powers authority created with the
City and Redevelopment Agency as its members. Due to the dissolution of the Redevelopment
Agency, the Chula Vista Municipal Financing Authority was created with only the City and
Housing Authority as its members. This action will establish the MFA and PFA regular meeting
date as the third Tuesday of the month at 2:00 p.m.
Health and Safety Code Section 34178(b)(3) provides tl�at existing joint pow�ers agency
agreements originally established by a redevelopment agency and a city are not invalid; however,
bond counsel recommends that new transactions not be entered into by these joint powers
agencies except in limited circumstances. That is why the City fornied the new Municipal
Financing Authorit��.
MUNICIPAL FIIVANCING AUTHORITY
The Chula Vista Municipal Financin� Authority (MFA) is a joint exercise,of powers authority
organized and existing under Article 1 and Ariicle 4 of Chapter 5 of Division 7 of Title 1 of the
Govemment Code of the State of California (the "JPA AcP') for the purpose of assisting the City
in the financing of the construction, reconstruction, modemization 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
MFA may adopt a resolution authorizing bonds or any issuance of bonds or accepting the benefit
of any bonds or the proceeds of bonds only durine a regular meeting of the MFA held pursuant
to Govemment Code Section 54954.
The MFA had established a "regular meeting" date wl�en it was created as the first Tuesday of
the month and then was subsequently changed to the fourth Tuesday of the month. The approval
of this resolution �vill establish a regular meeting date for the MFA that will become the third
Tuesday of the month. In the event that the third Taesday meeting of the City Council are
changed such that the third Tuesday of each month is no longer a regular meeting date of the
City Council, then the regular meetings of the MFA shall, without further action by the Board of
Directors, be changed to be the same date and time as the first regular City Council meetine of
each �nonth
2-2
\orember �. 20li
Pa�e 3 of 3
PUBLIC FIivANCI�'G AUTHORITY
The Chula Vista Public Financing Authoriri- (PFA) is a joint exercise of po«�ers authority
oreanized and existino under 9rticle 1 and Article 4 of Chapter � of Division 7 of Title 1 ofthe
Govemment Code of the State of California (the "JPA AcY`) for the purpose of assistins the Cit��
in the financing of the construction; reconstruction, modernization and equippin� of certain
capital improvements on behalf of the Citv.
Go�ernment Code Section6�92.1 became effecti�e on January 1, 2010 and provides that the
PFA mav adopt a resolution authorizine bonds or an}� issuance of bonds or acceptine the benefit
of any bonds or the proceeds of bonds only durine a reeular meetin2 of the PFA held pursuant to
Go��ernment Code Section �49�4.
The PFA had established a `reeular meetine" date ��-hen it ���as created as the first Tuesdav of the
month. The approval of this resolution ���11 establish a reeular meetine date for the PFA that �;ill
become the third Tuesdav of the month. In the e��ent that the third Tuesdav meetine of the Cirv
Council aze chanaed such that the third Tuesday of each month is no loneer a reQular meetin�
date of the Citv Council, then the re¢ulaz meetinas of the PFA shall, without further action bv the
Boazd of Directors. be chaneed to be the sameydate and time as the first rewlaz Cirv Council
meeting of each month y �
DECISION AZAKER CONFLICT
Staffhas revie��ed the decision contemplated by this action and has determined that it is not site
specific and consequentl}�, the �00-foot rule found in Califomia Code of Resulations section
18704?(a)(1) is not applicable to this decision. Staff is not independently a���aze, nor has staff
been informed bv anv Citv Councilmember. of anv other fact that mav constitute a basis for a
decision maker conflict of interest in this matter.
CURRE\rT I'EAR FISCAL I�IPACT
There is no fiscal impact as a result of establishine a new rewlaz meeting date of the Chula Vista
Municipal Financing Authoriri� and the Chula Vista Public Financine Authority.
ONGOING FISC.�.L IIVIPACT
There is no on-Qoine fiscal impact as a result of establishine a ne�v reeulaz meetine date of the
Chula Vista Municipal Financin� Authorit}� and the Chula Vista Public Financine Authority.
ATTACH111ENTS
None
Prepared by: Phil/ip Dm�is, Assistant Drrector ojFrnance, Finmvice Department
2-3
RESOLUTION NO.
RESOLUTI02�' OF THE CHULA VISTA MiJNICIPAL
FINANCING AUTHORITY ESTABLISHING REGULAR
MEETING DATES
VdHEREAS, the Chula Vista Municipal Financing Autl�ority (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 (tl�e "JPA AcY') for the
purpose of assisting the Ciry of Chula Vista (the "City") in the financing of the construction;
reconstruction,.modemization and equipping of certain capital improvements on behalf of the
City; and
WHEREAS, the Authority is governed by the terms of the 7oint Exercise of Powers
A�reement (the "JPA Agreement' ) dated as of June 1 I, 2013 by and between the Citv 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 ��ith the
provisions of Section 2.03(d) of the JPA Agreement and Government Code Section �49�4 to
establish regular meeting dates for the Authority.
NOW, THEREFORE, the Board of Directors of the Authority does hereby resoh�e as
follows:
SECTION 1. Recitals. Each of the foregoing recitals is true and correct.
SEC"CIOI�' 2. Reeular Meetine 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
Direcfors of the AuYhority, from the date hereof, the regular meetings of the Authority shall be
held at 2:00 p.m. on the third 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 third Tuesday of each month is no longer a
regular meeting date of the City Council, then the regular meetings of the Authority shall,
J:Wttorney\FINAL RESOS AND ORDIN.4NCES\2013U 1 OS 13\Reso- �inance MPA Resolution Est Regular Meeting Date
11052013.doc
10/22/2013 I?:?9 PM
2-4
Resolution I�io.
Pase 2
without further action bv the Boazd of Directors. be chaneed to be the same date and time as the
first rewlar Citt� Council meetin� of each month. In the event that the Secretar}� determines that
there is no business of [he Authority to be conducted at a regular meeting; then the Chair, the
Secretary and other officers of the Authoritv are authorized to tal:e whatever actions are required
b� law�to cancel such reeulazll� scheduled meetins.
SECTION 3. Other Actions. The Chairman. Vice Chairman. Eaecutive Director. Chief
Financial Officer and Secretary of the Authority aze authorized and directed. jointlp and
severally, to do any and all things which thev ma�� deem necessan� or advisable in order to
effectuate the purposes of this Resolution. and such actions pre��iously taken by such officers aze
herebv ratified and confirmed.
SECTION 4. Effect. This Resolution shall take effect from and after its date of
adoption.
Presented bv Approved as to form by
�
Maria Kachadoorian � G eri� . Gb g�' s
Director of Finance/Creasurer �ty Attome�
��� �
1:Wttomey�F'It�`AL RESOS AND ORDIA'.4NCES�013V 1 OS 13Uteso-Finance�1FA Resolution Est Regular A1eetin¢Date
11052013.doc
10/22/2013 1229 PD1
2-5
I
RESOLUTION NO.
RESOLUTION OF THE CHULA VISTA PUBLIC FINANCING
AUTHORITY ESTABLISHII�'G REGULAR MEETING DATES
WHEREAS, the Chula Vista Public Financing AuYhority (the "Aulhority') is ajoint eaercise
of powers authority organized and eaisting under Article 1 and Article 4 of Chapter � of Division 7
of Title I of the Government Code of the State of California (the "JPA AcY') for the purpose of
assisting the City of Chula Vista (the "City') in the financing of the construction, reconstruction.
modemization and equipping of certain capital improvements on behalf of the City; and
WHEREAS, thejoint po��ers agreement between the Ciry and the Redevelopment Agency of
the City; which established the Authority, is still valid and binding on the Successor Agency to the
Redevelopment Agency, pursuant to Health and Safety Code Section 34178(b)(3); and
WHEREAS, the Authoriry previously established, by resolution, �the first Tuesday of each
month as its regular meeting date; and;
WHEREAS; to fWfill its purposes, the Authoriry, 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 authorizine bonds or any issuance of bonds or accepting the benefit of any bonds or the
proceeds of bonds only durine a regular meeting of the Authority held pursuant to Government Code
Section 549�4: and
WHEREAS, the Authority desires to adopC this resolution in accordance N�ith the provisions
of Govemment Code Section �49�4 to chanse its regular meeting dates to the third Tuesday of each
month. y
NOW, THEREFORE, the 13oard of Directors of the Authority does hereby resolve as
follows:
SECTION 1. Recitals. Each of the foregoing recitals is true and correct.
SECTION 2. Reeular Meetin¢ Dates. Notwithstanding any provision to the contrary in the
joint powers agreement establishin� the Authority, any bylaws of the Authority or in any prior
resolutions or actions of the Board of Directors of the Authority, from the date hereof, the regular
meetings of the Authorit�� shall be held at 2:00 p.m. on the third Tuesday of each month, and may be
held as a joint meeting ���ith 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 third 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 Ciry Council meeting of eacl� month. In the event that the Secretary
determi��es tha[ 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 autl�orized to take whatever actions are
required by laN� to cancel such reoularly scheduled meeting.
J:AAttomey\FINAL RESOS AND ORDINANCES\2013U 1 OS 13\Reso-Finanec PFA Resolution Est Regular Meeting Date
I 1052013-JDSM Redline.doc
. 10/24/2013 9:?7 A�9
2-6
Resolution No.
Paee 2
SECTIOI�' 3. Other Actions. The Chair, Vice Chair, Executive Director. Chief Financial
Officer, Secretan� and other officers of the Authorin� are authorized and directed, jointl�� and
severallv, to do anv and all thines H�hich they may deem necessary or advisable in order to effecmate
the purposes of this Resolution, and such actions pre��iously taken bv such officers are herebv ratified
and confirmed.
SECTIO\ 4. Effect. This Resolution shall take effect from and afrer its date of adoption.
Presented by Approved as ro form by
� �� y�
.' s ; � r
MariaKachadoorian n,'E'ilen.Goo ns;'J��}'�-
Director of Finance/Treasurer f�ity Atfome}�
_\i, .
1:Waome�lFl\AL RESOS A.\D ORDINANCES�2013\I 1 0� 13lReso-Finance PFA Resolution Est Reeular�feetine Date
110520I3-IDSr1 Redline.doc
� 1024/?013 927 AA9
2—�