HomeMy WebLinkAboutResolutionRESOLUTION NO. 2013 —
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NATIONAL CITY
AUTHORIZING TERMINATION OF JOINT EXERCISE OF POWERS
AGREEMENT CREATING THE SAN DIEGO AREA HOUSING AND
FINANCE AGENCY, AND GRANTING AUTHORITY TO THE PRESIDENT
AND SECRETARY OF THE AGENCY TO EXECUTE DOCUMENTS
FOR PURPOSES OF CLOSING OUT THE AFFAIRS OF THE AGENCY
WHEREAS, the San Diego Area Housing and Finance Agency ("Agency") was originally
created by a Joint Exercise of Powers Agreement (the "Agreement") in 1999; and
WHEREAS, the current Agency membership consists of the Cities of Carlsbad, El Cajon,
Encinitas, Escondido, National City, San Marcos, Santee, Vista, and the County of San Diego;
and
WHEREAS, the Agency was created to provide home mortgage loans to qualified
persons and families, finance the construction, rehabilitation, acquisition, lease, and sale of
housing, promote economic development, finance other capital improvements, and issue
revenue bonds to provide the funds therefore; and
WHEREAS, the Agency has served its stated purpose in providing such loans and
financing, and is no longer necessary because all projects and programs have been completed;
and
WHEREAS, the Agency currently has no outstanding obligations or claims and all bonds
and interest have been paid (as required prior to termination in the Agency's J PA Agreement);
and
WHEREAS, the Agency has received and approved audits for each of the fiscal years
concluding with fiscal year 2012; and
WHEREAS, the Agency's Board of Directors approved a recommendation for each of its
member agencies that the Agency should be terminated, and that each member city council be
asked to vote for such termination.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of National City
hereby authorizes the termination of the San Diego Area Housing & Finance Agency Joint
Exercise of Powers Agreement in accordance with article 7, section 7.01 of the Agreement, and
to the extent possible, any remaining assets of the Agency are to be divided among the
Agency's current member cities and county in accordance with article 7, section 7.02 of the
Agreement. Upon termination, the Agency shall continue to exist for the limited purposes of
closing out the affairs of the Agency in accordance with article 7, section 7.03 of the Agreement.
BE IT FURTHER RESOLVED that the President or any Vice -President, the Secretary,
and the general counsel for the Agency, are each of them hereby authorized to execute such
documents and approve any releases, terminations, certifications, or other such documents,
necessary to file with all appropriate state and federal agencies to effect the termination of the
Agency; and further, to execute such documents, issue such negotiable instruments, and
otherwise conduct such post -termination business required from time -to -time to close out and
wind up the affairs of the Agency, all in accordance with article 7, section 7.03 of the
Agreement.
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Resolution No. 2013 —
Page Two
PASSED and ADOPTED this 2nd day of July, 2013.
Ron Morrison, Mayor
ATTEST:
Michael R. Dalla, City Clerk
APPROVED AS TO FORM:
Claudia Gacitua Silva
City Attorney