HomeMy WebLinkAboutResolution - - JPFA-44 - 12/6/2018RESOLUTION NO. JPFA-44
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 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
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
powerto 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
Date Adopted: 12/06/2018
Date Approved: 12/06/2018
Effective Date: 12/06/2018
Page 1 of 4
Resolution No: JPFA-44
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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 herepresent 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 setsthe official bond amount at $25,000;
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
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(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 subsequept Resolution of the Council.
/1�
Micfiael Lima, Finance-Director/Controller
(ex-officio)Treasurer
Mavet Mora, Assistant Finance
Director/Controller
Yvo neDedmore, Administrative Manager
Roberta Cope, Principal Accountant
Corrina Barbarite, 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 6t" day of December , 201&
AYES-
Boardmember Caprioglio, Boardmember Soria
NOES:
None
ABSENT:
Mayor Brand
ABSTAIN:
None
APPROVED AS TO FORM:
CITY ATTORNEY'S OFFICE
By ( -7 l `i
Raj Singh Badhesha, Deputy
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YVONNE SPENCE, MMC
City Clerk
B ( to
f , Deputy �
City of
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Yvonne Spence, MMC
City Clerk
January 7, 2019
TO: File
FROM: Yvonne Spence, MMC
City Clerk
SUBJECT: Technical Corrections to Resolution Numbers 2018-284 and 2018-286
During the council meeting of December 6, 2018, Item(s) 1-H and 1-J were shown as
approved on consent. However it has come to our attention that the above items should
have been taken separately by the Fresno Joint Powers Finance Authority (JPFA)
Board consisting of Mayor Brand, Council President Soria, Councilmember Caprioglio.
The above resolution numbers will not be used and the correct resolution numbers for
the above items are JPFA-44 for Resolution 2018-284 and JPFA-45 for Resolution
2018-286. Both items were approved on a vote of 2-0 with Mayor Brand absent.
The minutes have also been corrected to show the above changes.
City Hall • 2600 Fresno Street - Fresno, California 93721 • (559) 621-7650 • FAX (559) 457-1106
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