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1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />RESOLUTION NO. R-62-98 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />COLTON APPROVING AN ASSOCIATE MEMBERSHIP <br />AGREEMENT WITH THE INDEPENDENT CITIES LEASE <br />FINANCE AUTHORITY AND PROVIDING FOR OTHER <br />MATTERS PROPERLY RELATING THERETO <br />WHEREAS, certain cities of the State of California (collectively, the "Members") have <br />entered into a Joint Powers Agreement Creating the Independent Cities Lease Finance Authority (the <br />"Joint Powers Agreement"), establishing the Authority and prescribing its purposes and powers, as <br />amended by an Amendment No. 1 thereto providing, among other things, for associate members of the <br />Authority (an "Associate Member"); and <br />WHEREAS, the Authority has been formed for the purpose, among others, of assisting <br />its Members and Associate Members in the participation in Home Mortgage Financing Programs (as <br />defined in the Joint Powers Agreement) and in financing the acquisition, construction, improvement <br />and/or equipping of public capital improvements, and <br />WHEREAS, the City desires to become an Associate Member of the Authority as <br />provided in the Associate Membership Agreement, in substantially the form attached hereto as Exhibit <br />«A <br />BE IT NOW THEREFORE RESOLVED AS FOLLOWS: <br />1. Approval of Associate Membership Agreement. The City Council hereby <br />approves and authorizes the Mayor to execute and the City Clerk to attest the Associate Membership <br />Agreement pursuant to which the City shall become an Associate Member of the Independent Cities <br />Lease Finance Authority forming the Authority, in substantially the form on file with the City Clerk. <br />