r- 8ATTACHMENT A
City Council Meeting 10 -11 -11 Santa Monica, California
RESOLUTION NO. 8
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
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SECTION 1. Recitals. Each of the foregoing recitals is true and correct.
SECTION 2. Regular Meeting 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 the fourth Tuesday of October of each year at 5:30 p.m.,
and may be held as a joint meeting with the City Council 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 p.m., 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 regularly 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.
APPROVED AS TO FORM:
JONES MO
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Adopted and approved this 11th of October, 2011.
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Richard Bloom, Chair
I hereby certify that the foregoing Resolution No. 8 (PFAS) was duly adopted at a
meeting of the Public Financing Authority held on the 11th of October, 2011, by the
following vote:
Ayes: Authority Members: Holbrook, McKeown, O'Connor, O'Day, Shriver
Vice Chair Davis, Chair Bloom
Noes: Authority Members: None
Absent: Authority Members: None
ATTEST:
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Denise Anderson - Warren,
Acting Authority Secretary