RDA RES 1990-011 RESOLUTION NO. RDA 90-11
A RESOLUTION OF THE RANCHO PALOS VERDES
REDEVELOPMENT AGENCY APPROVING A JOINT
EXERCISE OF POWERS AGREEMENT BETWEEN THE CITY
OF RANCHO PALOS VERDES AND THE RANCHO PALOS
VERDES REDEVELOPMENT AGENCY
RECITALS:
A. The Joint Exercise of Powers Act, California
Government Code section 6500 , et seq. , provides that public
agencies by agreement may jointly exercise any power common
to the contracting parties.
B. the City and the Agency are "public agencies"
within the meaning of that term under Section 6502 of such
Act.
C. The common powers of the City and the Agency
include the power to install and construct public
improvements; to accept financial assistance from other
public agencies; to borrow money by the issuance of bonds,
notes or other obligations; the power to sell such bonds,
notes or other obligations; and the power to purchase such
bonds, notes or other obligations. The City and the Agency
desire to exercise jointly certain powers common to them,
including the foregoing and including the expansion,
upgrading and improvement of public capital improvements
within the City.
D. By adding the provisions of Article 4 to the
Joint powers Act, the State Legislature had provided
assistance to reduce local borrowing costs, to help
accelerate the construction, repair, and maintenance of
public capital improvements, and to promote greater use of
existing and new financial instruments and mechanisms.
E. There is a need within the City, consistent with
the need described in the declarations of the State
Legislature set forth in Article 4 of the Joint Exercise of
Powers Act, to expand, upgrade, and otherwise improve the
public capital facilities of local government necessary to
support the rehabilitation and construction of residential
and economic development, including the need to install ,
construct, repair and maintain public capital improvements,
necessary, desirable or appropriate to abate geologic hazards
in the City. The needs of local government for financing
these facilities greatly exceed the amount of funds available
from existing state, local , and federal sources .
F. The City and the Agency desire to enter into
this Agreement in furtherance of the Joint Exercise of Powers
Act, including Article 4 thereof .
NOW THEREFORE, THE RANCHO PALOS VERDES REDEVELOPMENT
AGENCY HEREBY FINDS, DETERMINES, RESOLVES AND ORDERS AS
FOLLOWS:
Section 1 . The Joint Exercise of Powers Agreement,
dated as of June 19, 1990, by and between the City of Rancho
Palos Verdes and the Rancho Palos Verdes Redevelopment
Agency, which as been presented to the Agency at this meeting
and which is on file in the office of the City Clerk, is
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hereby approved and the Chairman is hereby authorized and
directed for and on behalf of the Agency, to execute and
deliver such Agreement for and on behalf of the Agency.
Section 2 . The powers conferred upon the Rancho
Palos Verdes Improvement Authority described by such
Agreement and by the Joint Exercise of Powers Act, California
Government Code Section 6500 , et seq. , including, without
limitation, Article 4 thereof, will provide significant
public benefits, by creating a separate public entity to
implement the purposes of the Joint Exercise of Powers Act
and to implement the installation, construction, repair and
maintenance of public capital improvements, including,
without limitation, those necessary desirable or appropriate
to abate geologic hazards within the City.
PASSED, APPROVED AND ADOPTED, this 19th day of June,
1990 .
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Or CAAI17 :'
ATTEST:
i
aGENCY SECRETARY
• ate of California
County of Los Angeles ) ss
City of Rancho Palos Verdes )
I , JO PURCELL, Agency Secretary of the Rancho Palos
Verdes Redevelopment Agency hereby certify that the above
Resolution No. RDA 90-11 was duly and regularly passed and
adopted by the said Redevelopment Agency at a regular meeting
thereof held on June 19, 1990 . / 1 -.
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AG' CY ECRETARY
-2- G RDA NO . 90-11