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RDA RES 1990-018 RESOLUTION NO. RDA 90-18 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 VER.uS REDEVELOPMENT AGENCY AND RESCINDING RESOLUTION NO. RDA 90-11 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 and to accept financial assistance from other public agencies. The City and the Agency desire to exercise jointly certain powers common to them, including the foregoing and including the expan- sion, 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 has provided assistance to reduce local borrowing costs, to help accelerate the construc- tion, 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 facili- ties of local government necessary to support the rehabilitation and construction of residential and economic development, includ- ing 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 govern- ment 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 Reimbursement and Settlement Agreement dated October 13 , 1987, by and among the City, the Agency and the County of Los Angeles and the Joint Exercise of Powers Act, including Article 4 thereof . -1- 900831 ajh 1670197 ( 3 ) 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 September 4, 1990, by and between the City of Rancho Palos Verdes and the Rancho Palos Verdes Redevelopment Agency, which has been presented to the Agency at this meeting and which is on file in the office of the City Clerk, is 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, con- struction, repair and maintenance of public capital improvements, including, without limitation, those necessary, desirable or appropriate to abate geologic hazards within the City. Section 3. Resolution No. RDA 90-11 is hereby rescinded in its entirety. PASSED, APPROVED AND ADOPTED, this 4th day of September, 1990. AYES: McTAGGART, BACHARACH AND CHAIRMAN HUGHES NOES: NONE ABSENT: NONE ABSTAIN: HINCHLIFFE AND RYAN ri i <' t CHA 'j'A ATA ST: w A T NCY- SECRETARY S 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 90-18 was duly and regularly passed and adopted by the said Redevelopment Agency at a regula meeting thereof held on September 4, 1990 . 46 i it / ,,t AGENCY SECRETARY -2- 900831 ajh 1670197 ( 3)