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HomeMy WebLinkAboutReso 1982-10805 RESOLUTION NO. 10805 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA VISTA APPROVING A COOPERATIVE AGREEMENT WITH THE CHULA VISTA INDUSTRIAL DEVELOPMENT AUTHORITY The City Council of the City of Chula vista does hereby resolve as follows: WHEREAS, the City Council declared the need for an Industrial Development Authority and that such Authority shall function in the City of Chula Vista by Ordinance No. 1971; and, WHEREAS, the City Council declared itself to be the Chula Vista Industrial Development Authority by Resolution No. 10774; and, WHEREAS, the Chula Vista Industrial Development Authority may require, from time to time, assistance from the City in order to effectively exercise its powers; and, WHEREAS, the City Council is willing to provide such assistance to the Authority. NOW, THEREFORE BE IT RESOLVED by the City Council of the City of Chula vista that the Cooperative Agreement between the City of Chula Vista and the Chula Vista Industrial Development Authority, incorporated herein as though fully set forth, is hereby approved and the Mayor, by this resolution, j.s hereby authorized to execute said agreement on behalf of the Council. Presented by Approved as to form by ~~(; ~ George D. Lindberg, City Attorney ADOPTED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF CHULA VISTA, CALIFORNIA, this 23rd day of March 19'i!. 2 ,by the following vote, to_it: AYES: Councilmen McCand1iss, Scott, Cox, Gillow, Campbell NAYES: ABSTAIN: ABSENT: Councilmen None Councilmen None Councilmen None M Y r ATTEST J)'fb'i'':/. ~::if, hr t/ City Clerk STATE OF CALIFORNIA ) COUNTY OF SAN DIEGO ) s s. CITY OF CHULA VISTA ) I, JENNIE M. FULASZ, CMC, CITY CLERK of the City of Chula Vista, California, DO HEREBY CERTIFY that the above and foregoing is a full, true and correct copy of RESOLUTION NO. 10805 ,and that the same has not been amended or repealed. DATED City Clerk ( seal) CC-660 COOPERATIVE AGREEMENT BETWEEN THE CITY OF CHULA VISTA AND THE CHULA VISTA INDUSTRIAL DEVELOPMENT AUTHORITY THIS AGREEMENT entered into this 23rd day of March ,1982, by and between the City of Chula Vista (herelnafter referred to as "Clty"), a Cal iforni a muni cipal corporati on and the Chul a Vi sta Industri al Development Authority (hereinafter referred to as "Authority"), a publ ic body corporate and politic, duly created and functioning pursuant to the California Industrial Development Financin9 Act. WITNESSETH: that, RECITALS WHEREAS, the City by Ordinance No. 1971 adopted February 9, 1982, formed the Authority pursuant to and in accordance with the provisions of the California Industrial Development Financing Act; and WHEREAS, the Authority desires to begin industrial development activity wi thi n the City of Chul a Vi sta pursuant to its powers under the California Industrial Development Financing Act including, but not limited to, the financing of selected industrial development projects within the City of Chula Vi sta through the advancement of funds secured by loan agreements, the borrowing of money and issuance of its bonds for the purpose of paying all or any part of the costs of a project, and the acquisition, maintenance, and disposition of real property; and WHEREAS, the Authority wi 11 requi re, in order to carry out such industrial development activities, the assistance of the City; and WHEREAS, the City desires to assist the Authority in carrying out industrial development activities: NOli, THEREFORE, pursuant to the provisions of the California Industrial Development Financing Act and in consideration of the benefits to accrue to the Ci ty, the community and to the citi zens thereof from the development of new commerce and industry within the community, the City and Authority agree as follows: Section 1. The City agrees to provid~ the Authority with such funds as may be necessary for the Authority to carry out industrial development activities. Said funds may be grants to the Authority or loans made upon such terms and conditions as the City may prescribe. Such financial assistance by the City to the Authority shall only be given after the City approves by resolution of the City Council of the City of Chula Vista an annual budget prepared by the Authority. Section 2. The City agrees to provide the Authority with the services of such City officers and employees as are necessary for the Authority to carry out its industrial development activities. Such use by the Authority of City services shall be considered to be a loan from the City to the Authority and the Authority shall repay the City the reasonable value of such services from any funds which may become available to the Authority and which may legally be used for such repayment. Section 3. The City agrees that it will assist the Authority in carrying out lndustrial development activities by doing, upon such terms and conditi ons as the City may prescri be, the acts permitted by the Cal i forni a Industrial Development Financing Act. Secti on 4. The Authori ty agrees to submit to the City for its approval an annual bUdget corresponding to the fiscal year of the City. Section 5. The Authority agrees that it will keep and maintain detailed records of all receipts and expenditures by the Authority as well as detailed records of all time spent and services performed by City officers and employees on the Authority's behalf pursuant to this agreement. R-10805 Section 6. The Authority agrees that it shall submit a semi-annual report descrlblng all aspects of the Authority's operations including, but not 1 imited to, the records described in Section 5 herein, to the City for its review. Section 7. The City and Authority agree that because the Authority's industrial development activity is incipient this agreement is only intended to provide a basic framework for the relationship between the City and Authority and that this agreement may from time to time, be amended as the need occurs. CHULA VISTA INDUSTRIAL DEVELOPMENT AUTHO RI Y CITY OF CHULA VISTA ATTESTED BY: jf,;"J"- ~h#~ ~ }JJ~ Autnority Secretary APPROVED AS. TO FORM AND LEGALITY ~~C~~ City Attorney !<-ltJftJ5'