R-075-11 - Laserfiche WebLink

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1 WHEREAS, the bonds and indebtedness issued by the Agency to carry out the 2 Program were repaid as of June 30, 2007, all real property owned by the Agency has been sold 3 or otherwise divested, and the Board of Directors of the Agency has determined it is now appropriate to terminate the Agreement and dissolve the Agency; and 4 5 WHEREAS, Section 7.01 of the Agreement provides that the Agreement may be 6 terminated and the Agency dissolved upon mutual agreement of all members of the Agency; 7 and 8 9 WHEREAS, Section 7.03 of the Agreement provides that, following termination, the 10 Agreement and Agency shall continue to exist for the limited purpose of distributing the assets of the Agency and all other functions necessary to close out the affairs of the Agency; and 11 12 WHEREAS, Section 3.04 of the Agreement provides that members of the Agency 13 may withdraw from membership at any time upon 30 days' advance written notice subject to 14 the condition that bonds or other obligations issued pursuant to and under the Program are not 15 outstanding; and 16 17 WHEREAS, dissolution of the Corporation requires the following actions: (i) an 18 election of the Corporation's Board of Directors to dissolve the Corporation; (ii) the 19 obtainment of a Dissolution Waiver from the California State Attorney General's Office by 20 filing a letter signed by the Director of the Corporation indicating there are no assets 21 remaining for distribution, accompanied by a signed copy of the Certificate of Dissolution, financial statements for the three most recent accounting periods, and a copy of the 22 Corporation's Articles of Incorporation; and (iii) filing a Certificate of Dissolution with the 23 Secretary of State of the State of California. 24 25 NOW, THEREFORE THE CITY OF COLTON DOES HEREBY RESOLVE AND FIND AS FOLLOWS: 26 Section 1. The recitals preceding this Resolution are true and correct and are 27 incorporated into this Resolution. 28