HomeMy WebLinkAboutResolution - - JPFA-47 - 8/27/2020 ��,Z U F F►?�t
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RESOLUTION NO. JPFA-47
A RESOLUTION OF THE FRESNO JOINT POWERS FINANCING
AUTHORITY AUTHORIZING THE RELEASE OF FACILITIES AND
AMENDMENT OF THE FACILITIES LEASE AND FACILITIES
SUBLEASE RELATING TO THE FRESNO JOINT POWERS
FINANCING AUTHORITY LEASE REVENUE REFUNDING BONDS
(VARIOUS CAPITAL PROJECTS), SERIES 2004 AND APPROVING
THE TAKING OF ALL NECESSARY OR DESIRABLE ACTIONS IN
CONNECTION THEREWITH
WHEREAS, the City of Fresno is a charter city organized and validly
existing under the Constitution of the State of California (the City); and
WHEREAS, the Fresno Joint Powers Financing Authority (the Authority) is a
joint exercise of powers entity created pursuant to a Joint Exercise of Powers
Agreement, dated as of October 25, 1998, as amended, between the City and the
Redevelopment Agency of the City, and
WHEREAS, the Authority and the City entered into a Facilities Lease (No.
2004-2) (the Facility Lease) and a Facility Sublease (No. 2004-2) (the Sublease),
each dated as of April 1, 2004 (collectively, the Leases) in connection with the
issuance of the Authority's Lease Revenue Refunding Bonds, (Various Capital
Projects), Series 2004 (the Bonds); and
WHEREAS, the Bonds were issued pursuant to the Trust Agreement (the
Trust Agreement), dated as of April 1, 2004, between the Authority and The Bank
of New York Mellon Trust Company, N.A., as trustee (the Trustee) for the Bonds;
and
WHEREAS, Section 2.03 of the Sublease provides that Facilities may be
substituted in accordance with the requirements of the Leases and the City and the
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Date Adopted: 08/27/2020
Date Approved: 08/27/2020
Effective Date: 08/27/2020 Resolution No. JPFA-47
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Authority desire to withdraw the Promenade Parking Lot from the Leases pursuant
to an Amendment to Facility Lease and an Amendment to Facility Sublease (the
Lease Amendments), each by and between the City and the Authority; and
WHEREAS, the Lease Amendments will also make certain amendments to
the Leases; and
WHEREAS, the Authority has full legal right, power and authority under the
laws of the State of California to enter into the agreements hereinafter authorized;
and
NOW THEREFORE, BE IT RESOLVED by the Governing Board of the
Fresno Joint Powers Financing Authority, as follows:
1. The foregoing recitals are true and correct and this Board hereby so
finds and determines.
2. The proposed forms of the Amendment to Facilities Lease and the
Amendment to Facilities Sublease, by and between the City and the Authority, on
file with the Secretary of the Authority, and delivered to the Board, are hereby
approved. The Chairperson, Vice-Chairperson or Treasurer and Controller (the
"Authorized Officers"), jointly and severally, or any such officer's designee, are
each hereby authorized and directed, on behalf of the Authority, to execute and
deliver the Amendment to Facilities Lease and the Amendment to Facilities
Sublease in substantially said forms with such changes therein as such officer may
require or approve, subject to review by the City Attorney's Office, such approval to
be conclusively evidenced by the execution and delivery thereof.
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3. The Authorized Officers, each acting alone, are hereby authorized
and directed to do any and all things and to execute and deliver any and all
documents which they may deem necessary or advisable in order to carry out, give
effect to and comply with the terms and intent of this resolution, including without
limitation the execution and delivery of termination agreements, releases and
certificates required in connection with the Lease Amendments. Such actions
heretofore taken by such officers are hereby ratified, confirmed and approved.
4. This Resolution shall take effect from and after its passage and
approval.
PASSED AND ADOPTED at a regular meeting of the City Council of the
City of Fresno held on this 13th day of February, 2020, by the following vote-
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STATE OF CALIFORNIA )
COUNTY OF FRESNO )
CITY OF FRESNO )
I, YVONNE SPENCE, Secretary of the Fresno Joint Powers Financing
Authority, certify that the foregoing resolution was adopted by the Fresno Joint
Powers Financing Authority, at a regular meeting held on the 13th day of February,
2020.
AYES Boardmember Soria, Boardmember Arias
NOES :None
ABSENT Mayor Brand
ABSTAIN : None
YVONNE SPENCE, MMC CRM
Secre a
BY
uty Date
APPROVED AS TO FORM:
DOUGLAS T. SLOAN
City Attorney
By: z77_��
RAJ S. BADHESHA Date
Senior D6' uty City Attorney
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