HomeMy WebLinkAboutResolution - - JPFA-62 - 9/25/2025 � o
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RESOLUTION NO. JPFA-62
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 6505.5 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,
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Date Adopted: 09/25/2025
Date Approved- 09/25/2025
Effective Date: 09/25/2025 Resolution No. JPFA-62
duties, and responsibilities specified in Section 6505.5 of the Law, and the oA 4r`°00'
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 in Section 6505.1 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 in the amount of $25,000.
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NOW, THEREFORE, BE IT RESOLVED by the Board of the Fresno Joint Powers
Financing Authority as follows:
1. The City Finance Department employees, all of whose positions, 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
in the amount of$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
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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 six specimen signatures shall be officially recognized until
this authority is rescinded by a subsequent resolution of the Authority.
1
Ruth . Quinto, , Assistant City Manager
5a nisi, inance Director/City Controller
(ex-officio) Treasurer
Tal et� Neufeld, Assistant Finance
Director/City Controller
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Kamaljit Kaur, Division Manager
Tricia Kelsey, Principal Accountant
Geor a 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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STATE OF CALIFORNIA ]
COUNTY OF FRESNO } ss.
CITY OF FRESNO }
I, TODD STERMER, 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
(the 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 25th day of September 12025.
AYES : Karbassi, Esparza
NOES : None
ABSENT : Dyer
ABSTAIN : None
TODD STERMER, MMC
City Clerk
By: g•ZOLS
Deputy Date
APPROVED AS TO FORM:
ANDREW JANZ
City Attorney
By: 10 18�y5
Sukhman S. Sekhon Date
Deputy City Attorney
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