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HomeMy WebLinkAboutResolution - - JPFA-52 - 10/13/2022 OF FP i �so O RESOLUTION NO. JPFA-52 A RESOLUTION OFTHE BOARD OFTHE FRESNO JOINT POWERS FINANCING AUTHORITY, DESIGNATING AND AUTHORIZING CERTAIN FINANCE OFFICERS OF THE CITY OF FRESNO TO TAKE CERTAIN ACTIONS AS REQUIRED FOR THE PRUDENT FINANCIAL ADMINISTRATION AND SAFEKEEPING OF AUTHORITY FUNDS ANDPROPERTY WHEREAS, the City of Fresno (the City)and the Redevelopment Agency of the City of Fresno (the Agency) have executed a Joint Exercise of Powers Agreement, dated October 25, 1988, as amended November 1, 1991 (the Joint Powers Agreement), between the City and the Agency that creates and establishes the Fresno Joint Powers Financing Authority(the Authority); and WHEREAS, the Joint Powers Agreement defines the "Law" as Articles 1 through 4 of Chapter 5 of Division 7 of Title 1 of the Government Code; and WHEREAS, the Joint Powers Agreement designates the Treasurer of the City as the Treasurer of the Authority; and WHEREAS, the Treasurer is the depositary of the Authority having custody of all money of the Authority, from whatever source, with the powers, duties, and responsibilities specified in Section of the Law, subject to the applicable provisions of any indenture, trust agreement or resolution providing for a trustee or other fiscal agent; and WHEREAS, the Joint Powers Agreement designates the Treasurer of the City as the Controller of the Authority(hereafter the Treasurer/Controller), with the powers, duties, and responsibilities specified in Section 6505.5 of the Law, and the Treasurer/Controller is authorized to draw checks to pay demands against the 1 of 5 Date Adopted: 10/13/2022 Date Approved: 10/13/2022 Effective Date: 10/13/2022 Resolution No. JPFA-52 uFFR d t� Authority when the demands have been approved by the Authority; and WHEREAS, the Law permits the contracting parties to designate the public officers or persons who will have charge of, handle, or have access to any property of the Authority, and the Joint Powers Agreement grants the Board of the Authority the power to appoint such other officers and employees as it may deem necessary; and WHEREAS, the effective and efficient execution of the financial affairs of the Authority requires that certain other City Finance Department employees be appointed and authorized as Finance Officers of the Authority to sign Authority checks and various investment and commercial banking documents, to approve electronic transfers of funds, and to provide verbal instructions (with follow up written confirmation) in connection with the prudent administration and safekeeping of Authority funds; and WHEREAS, it is the Treasurer/Controller seeking the delegation of such authority granted by Section 4.D of the Joint Powers Agreement to perform such financial transactions, and to here present for the Board's approval a list of responsible Finance Department employees to be designated as Finance Officers, and to provide their exemplar signatures, and an exemplar signature of the Treasurer/Controller; and WHEREAS, the Law states that persons or officers are required to file an official bond in an amount fixed by the contracting parties, and Section D.5 of the Joint Powers Agreement sets the official bond amount at $25,000. NOW THEREFORE, IT IS RESOLVED bythe Board of the Fresno Joint Powers Financing Authority, as follows: 1. The City Finance Department employees, all of whose names and 2of5 OF rp A� Il lr ,R rEa ccs• exemplar signatures are shown below, are designated as Finance Officers of the Fresno Joint Powers Financing Authority, and the exemplar signature of the Treasurer/Controller is set forth and acknowledged. 2. Upon, and subject to each Finance Officer having filed an official bond for $25,000, as required bythe Law and the Joint Powers Agreement, each Finance Officer shall be authorized as provided in this Resolution. 3. The Treasurer/Controller, acting alone, is authorized to carry out the obligations of the Treasurer/Controller duties set forth in the Law and in the Joint Powers Agreement including, without limitation, signing checks with either his handwritten or facsimile signature, to pay demands against the Authority when the Authority has approved the demands, to sign various investment and banking documents, to approve electronic transfers of funds, and to provide verbal instructions (and confirmed in writing), when approved by the Authority and as necessary for the prudent financial administration and safekeeping of Authority funds and property. 4. Any two of the other three Finance Officers designated herein, acting together, are authorized to assist the Treasurer/Controller with carrying out the obligations of the Treasurer/Controller set forth in the Law and in the Joint Powers Agreement bysigning checks,to paydemands against the Authority when the Authority has approved the demands, to sign various investment and banking documents, to approve electronic transfers of funds, and to provide verbal instructions (and confirmed in writing), when approved by the Authority and as necessary for the prudent financial administration and safekeeping of Authority funds and property. 5. The following specimen signatures shall be officially recognized until this authority is rescinded by a subsequent Resolution of the Council. 3 of 5 A u Ruth . uinto, P tant City Manager/Interim Finance Director/Controtler(ex-0fficio)Treasurer vonrp Dedmore,Assistant Finance Director/Controller Mang Thao, Ad6rflstraoe Manager Roberta Copa Principal Accountant not available Corrina Barbarite, Treasury Officer 6�0) I A Av"� Georgean X White, City Manager 6. Any prior resolutions appointing Finance Officers, setting forth exemplar signatures, and authorizing officers as set forth herein are hereby rescinded. a A � k k • k r F +• • h fe 4of5 SECRETARY'S CERTIFICATION STATE OF CALIFORNIA ) COUNTY OF FRESNO ) ss. CITY OF FRESNO ) I, TODD STERMER, Secretary of the Fresno Joint Powers Financing Authority (the "Authority") certify that the foregoing resolution was adopted by the Board of the Authority at a regular meeting held on the 13th day of October 2022. AYES Karbassi, Bredefeld, Mayor Dyer NOES None ABSENT None ABSTAIN None TODD STERMER, CMC City Clerk B y' — -- IQ-7l=Zoz7- Deputy Date APPROVED AS TO FORM: RINA M. GONZAL Interim rhey By: Brandon M. Collet Date Supervising Deputy City Attorney 5of5