HomeMy WebLinkAboutResolution - - JPFA-58 - 4/18/2024 tom; a
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RESOLUTION NO. JPFA-58
A RESOLUTION OF THE BOARD OFTHE FRESNOJOINT
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 AND PROPERTY
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 isthe 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
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Date Adopted: 04/18/2024
Date Approved: 04/18/2024
Effective Date: 04/18/2024 Resolution No.JPFA-58
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Treasurer/Controller is authorized to draw checks to pay demands against the
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 by the Board of the Fresno Joint Powers
Financing Authority, as follows:
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1. The City Finance Department employees, all of whose names and
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 by signing checks, to pay demands againstthe 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
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authority is rescinded by a subsequent Resolution of the Council.
Ruth F. into, P istant City Manager
San , Finance Director/City Controller
(ex-officio)Treasurer
Ka eb Neufeld, Assistant Finance Director/City Controller
Mang Thao, Acbiriist ive Manager
rO,L4-)NA ,�r
a aljit Kaur, Division Manager
Phillip H rdcastle, Principal Accountant
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Georg nne A. White, City Manager
6. Any prior resolutions appointing Finance Officers, setting forth exemplar
signatures, and authorizing officers as set forth herein are hereby rescinded.
7. This resolution shall be effective upon final approval.
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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 th day of April , 2024.
AYES : Bredefeld, Karbassi, Dyer
NOES : None
ABSENT : None
ABSTAIN None
TODD STERMER, CMC
City C erk
By
Date
Deputy
APPROVED AS TO FORM:
ANDREW JANZ
CityQr
r
By: C `�
Brandon M. Collet ate
Assistant City Attorney
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