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are familiar with and follow State law, it is recommended that a general law JPA <br />member city be designated. <br />• The second revision establishes a procedure to distribute any assets the JPA may <br />have acquired upon the dissolution of the JPA. The revision states that any <br />surplus monies or assets will be equally distributed amongst the voting members. <br />• The third revision designates a JPA member city as the JPA's treasurer. The City <br />of Highland has volunteered and been appointed by the JPA to serve as the <br />treasurer. A private CPA firm will be retained to serve as Auditor/Controller. <br />Because a JPA was formed to create RISFA, Article 12 of the current agreement, <br />which allows for the creation of an administrative entity, is redundant. It is <br />recommended that this section be deleted from the agreement. <br />Financial Impact <br />There is no financial impact to the City of Colton, except for staff time; all expenses of <br />the JPA are to be paid from bond proceeds or other revenues available. <br />ENVIRONMENTAL IMPACT: None. <br />ecommen a Ion <br />Adopt Resolution Amending the Joint Powers Agreement By and Between the City of <br />Colton and the Riverside San Bernardino Housing and Finance Agency (RISFA), a <br />Joint Powers Authority. <br />Attachment <br />Report Prepared By: Candace Cassel, Program Mar ger <br />R:\SLareRDA\Meetings\2000 Meetings\Agency BoardUune 20, 2000\RISFAAmendmentdoc <br />