RES-11070 Countywide Dissolution of Public Financing AuthorityRESOLUTION NO. 11070
A RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF ORANGE APPROVING THE
DISSOLUTION OF THE COUNTYWIDE PUBLIC
FINANCING AUTHORITY.
WHEREAS, the City Council of the City of Orange (the "City ") approved Resolution No.
8621, authorizing the execution of a joint exercise of powers agreement creating the Countywide
Public Financing Authority (the "Authority "); and
WHEREAS, pursuant to a joint powers agreement, dated June 19, 1996 (the
Agreement "), the City and the cities of Brea, Buena Park, Fullerton, Garden Grove, Santa Ana,
Seal Beach, Stanton and Tustin (the "Members "), created the Authority to provide a vehicle to
financing projects beneficial to the Members; and
WHEREAS, the Authority has no outstanding indebtedness and is not a party to any
outstanding material contracts and the Members desire to dissolve the Authority;
NOW, THEREFORE, BE IT RESOLVED the City Council of the City of Orange hereby
resolves as follows:
The City, as a Member, hereby elects to terminate the Agreement and to dissolve the
Authority which dissolution shall take effect upon the concurrence of all Members.
2. Quint & Thimmig LLP, Larkspur, California, is hereby authorized to provide all necessary
documentation to the State Controller to effectuate such dissolution.
3. All actions of the officers, agents and employees of the Council or the City that are in
conformity with the purposes and intent of this Resolution, whether taken before or after
the adoption hereof, are hereby ratified and confirmed.
4. This Resolution shall be in full force and effect immediately upon its adoption.
ADOPTED this 10th day of April 2018.
4 Tersa. Smith, Mayor, City of Orange
ATTEST:
Mary E. rp ity Clerk, City Ora ge
STATE OF CALIFORNIA
COUNTY OF ORANGE
CITY OF ORANGE
I hereby certify that the foregoing Resolution was duly and regularly adopted by the City
Council of the City of Orange at a regular meeting thereof held on the 10th day of April 2018, by
the following vote:
AYES: COUNCIL MEMBERS: Alvarez, Whitaker, Smith, Murphy, Nichols
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
ABSTAIN: COUNCIL MEMBERS: None
Mary E , City Cleglc, t ange
Resolution No. 11070