HomeMy WebLinkAboutResolution - - JPFA-39 - 3/2/2017 Gail 0 pp
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RESOLUTION NO. JPFA-39
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A RESOLUTION OF THE BOARD OF THE 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 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 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
6505.1 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 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; and
Date Adopted: 03/02/2017 Resolution Authorizing Certain Finance Officers
Date Approved: 03/02/2017
Effective Date: 03/02/2017 Resolution No. JPFA-39
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NOW THEREFORE, IT IS RESOLVED by the Board of the Fresno Joint Powers Financing
Authority, as follows:
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 by the 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 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 Board.
Michael Lima, Treasurer/Controller
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S. K6 Jackson, Administrative Manager
Roberta Cope, Principal Accountant
Corrina Barbari e, Treasury Officer
6. Any prior resolutions appointing Finance Officers, setting forth exemplar
signatures, and authorizing officers as set forth herein are hereby rescinded.
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STATE OF CALIFORNIA )
COUNTY OF FRESNO )ss
CITY OF FRESNO )
I, YVONNE SPENCE, City Clerk of the City of Fresno, certify that the foregoing
Resolution was adopted by the Board of Directors of the Joint Powers Financing
Authority, of the City of Fresno and the Fresno Redevelopment Agency(now the City of
Fresno as Successor to the Fresno Redevelopment Agency), California, at a regular
meeting thereof, held on the 2nd day of March ' 2017.
AYES Baines, Brandau, Bredefeld, Caprioglio, Chavez, Soria, Olivier
NOES None
ABSTAIN None
ABSENT None
APPROVED AS TO FORM: YVONNE SPENCE, CMC
CITY RNEY'S IC �� City Clerk
BY T W BY
Raj Singh Bad Sha, Deputy j 0
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