r-6 (2)RESOLUTION NO. 6 {PFAS)
SANTA MONICA PUBLIC FINANCING AUTHORITY
RESOLUTION OF THE SANTA MONICA PUBLIC FINANCING AUTHORITY
ESTABLISHING REGULAR MEETING DATES
WHEREAS, the Santa Monica Public Financing Authority (the "Authority") is a joint
exercise of powers authority organized and existing under Article 1 and Article 4 of Chapter 5 of
Division 7 of Title 1 of the Government Code of the State of California (the "JPA Act") for the
purpose of assisting its members and any related agencies or subdivisions (the "City'} in the
financing or refinancing of particular projects; and
WHEREAS, to Fulfill its purposes, the Authority, from time to time, authorizes the issuance
of bonds or purchases bonds of other local agencies pursuant to the JPA Act; and
WHEREAS, Government Code Section 6592.1 provides that the Authority may adopt a
resolution authorizing bonds or any issuance of bonds or accepting the benefit of any bonds or the
proceeds of bonds only during a regular meeting of the Authority held pursuant to Government Code
Section 54954; and
WHEREAS, the Authority desires to adopt this resolution in accordance with the
provisions of Government Code Section 54954 to establish regular meeting dates;
NOW, THEREFORE, the Board of Directors of the Authority does hereby resolve as
follows:
SECTION 1. Recitals. Each of the foregoing recitals is tnie and correct.
SECTION 2. ReQUlar Meetine Dates. Notwithstanding any provision to the contrary in the
joint powers agreement establishing the Authority, any bylaws of the Authority or in any prior
resolutions or actions of the Board of Directors of the Authority, from the date hereof, the regular
meetings of the Authority shall be held on the fourth Tuesday of May of each year at 5:30 p.m., and
may be held as a joint meeting with the City Cormcil of the City; provided, however, if the regular
meetings of the City Council of the City are changed from the second and fourth Tuesday of every
month at 5:30 pm., then the regular meeting date and time for the Board of Directors of the
Authority shall, without further action by the Board of Directors, be changed to be the same date and
time as the last regular meeting of the City Council of the City in May of each year. In the event that
the Secretary determines that there is no business of the Authority to be conducted at a regular
meeting, then the Chairman, the Secretary and other officers of the Authority are authorized to Take
whatever actions are required by law to cancel such reg<ilarly scheduled meeting.
SECTION 3. Other Actions. The Chairman, Vice Chairman, Executive Director, Treasurer,
Secretary and other officers of the Authority are authorized and directed, jointly and severally, to do
any and all things which they may deem necessary or advisable in order to effectuate the purposes of
this Resolution, and such actions previously taken by such officers are hereby ratified and confirmed.
SECTION 4. Effect. This Resolution shall take effect from and after its date of adoption.
THE FOREGOING RESOLUTION IS PASSED, APPROVED AND ADOPTED BY THE
GOVERNING BOARD OF THE SANTA MONICA PUBLIC FINANCING AUTHORITY THIS
I t DAY OF MAY, 2011, BY THE FOLLOWING ROLL-CALL VOTE:
AYES: Authority Members: Shriver, O'Day, McKeown
Chair Pro Tem Davis, Chair Bloom
NOES:
ABSTAIN:
ABSENT: Authority Members:Holbrook, O'Connor
CHAIRMAN
A=FTESTr
CLERK
APPROVED AS TO FORM:
M SHA J S MOUT
Aut rity C sel
2
DOCSOC/ 1481524v2/200120-0004