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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 />21 <br />2E <br />RESOLUTION NO. R-12-07 <br />RESOLUTION APPROVING, AUTHORIZING, AND DIRECTING EXECUTION OF A JOINT <br />EXERCISE OF POWERS AGREEMENT RELATING TO THE CALIFORNIA MUNICIPAL <br />FINANCE AUTHORITY <br />WHEREAS, the City of Colton, California (the "City"), has expressed an interest in <br />participating in the economic development financing programs (the "Programs") in <br />conjunction with the parties to that certain Joint Exercise of Powers Agreement Relating to <br />the California Municipal Finance Authority, dated January 1, 2004 (the "Agreement"); and <br />WHEREAS, there is now before this City Council the form of the Agreement; and <br />WHEREAS, the City proposes to participate in the Programs and desires that certain <br />projects to be located within the City, be financed pursuant to the Programs and it is in the <br />public interest and for the public benefit that the City do so; and <br />WHEREAS, the Agreement has been filed with the City, and the members of the City <br />Council of the City, with the assistance of its staff, have reviewed said document; <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />COLTON AS FOLLOWS; <br />Section 1. The Agreement is hereby approved and the Mayor or the City <br />Manager or designee thereof is hereby authorized and directed to execute said document, <br />with such changes, insertions and omissions as may be approved by said Mayor or City <br />Manager, and the City Clerk or such Clerk's designee is hereby authorized and directed to <br />affix the City's seal to said document and to attest thereto. <br />Section 2. The Mayor, the City Manager, the City Clerk and all other <br />proper officers and officials of the City are hereby authorized and directed to execute such <br />other agreements, documents and certificates, and to perform such other acts and deeds, as <br />may be necessary or convenient to effect the purposes of this Resolution and the <br />transactions herein authorized. <br />Section 3. The City Clerk of the City shall forward a certified copy of this <br />Resolution and an originally executed Agreement to: <br />I LosAngeles/177279.1 <br />Harriet M. Welch, Esq. <br />Squire, Sanders & Dempsey LLP. <br />555 South Flower St, Suite 3100 <br />Los Angeles, CA 90071 <br />