HomeMy WebLinkAbout12-02-2014 PFA C2 Resolution Appointing City Manager as Executive Director of PFACity of San Luis Obispo, Council Agenda Report, Meeting Date, Item Number
Public Financing Authority
FROM: Wayne Padilla, Finance and Information Technology Director
SUBJECT: ADOPT A RESOLUTION NAMING THE CITY MANAGER AS THE
EXECUTIVE DIRECTOR OF THE SAN LUIS OBISPO PUBLIC FINANCING
AUTHORITY
RECOMMENDATION
Adopt the resolution which names the City Manager as the Executive Director of the Public
Financing Authority.
DISCUSSION
The City Council, in conjunction with the City’s Parking Authority, approved a Joint Exercise of
Powers Agreement which allowed the formation of the San Luis Obispo Public Financing
Authority (PFA) on September 2, 2014. The PFA is an entity through which the City can issue
debt involving lease transactions, with the PFA serving as a third party to the lease arrangement
as allowed under the state government code.
At the time that the Public Financing Authority was formed on September 2, 2014 the list of
authorized staff members who could act on behalf of the Authority omitted the name and
position of the City Manager. Typically the City Manager serves as the Authority’s Executive
Director in administering the Authority’s activities. This oversight in staff assignment will be
corrected when the resolution is adopted.
The list of City officers who were recognized in the Joint Powers Authority Agreement and their
functions are shown below:
(d) Officers and their Duties
(1) The following City officers will serve ex officio as the officers of the
Authority:
City Officer Ex Officio Authority Officer
Mayor . . . . . . . . . . Chair
Vice Mayor . . . . . . . . Vice Chair
City Clerk . . . . . . . . . Secretary
City Treasurer . . . . . . . Treasurer
Director of Finance . . . . . . Controller
ATTACHMENTS
Resolution
Dec. 2, 2014
PFA C2
PFA C2 - 1
ATTACHMENT 1
OHSUSA:759339626.1
RESOLUTION NO. _____ 2014 SERIES
OF THE SAN LUIS OBISPO PUBLIC FINANCING AUTHORITY
A RESOLUTION OF THE GOVERNING BOARD OF THE SAN LUIS
OBISPO PUBLIC FINANCING AUTHORITY APPOINTING THE CITY
MANAGER OF THE CITY OF SAN LUIS OBISPO AS THE EXECUTIVE
DIRECTOR OF THE AUTHORITY
____________________________________________________________
WHEREAS, the San Luis Obispo Public Financing Authority (the “Authority”) was
formed pursuant to a Joint Exercise of Powers Agreement effective September 2, 2014, by the
City of San Luis Obispo (the “City”) and the Parking Authority of the City of San Luis Obispo
for the purpose, among others, of assisting the City in connection with financing public capital
improvements such as the Project;
WHEREAS, pursuant to Section 4.d.8. of the Joint Exercise of Powers Agreement the
Board of the Authority is authorized to appoint any officers as it deems necessary;
WHEREAS, the Authority now finds it necessary and desirable to appoint an Executive
Director for the Authority;
NOW, THEREFORE, BE IT RESOLVED by the governing board of the San Luis
Obispo Public Financing Authority as follows:
Section 1. The City Manager of the City shall serve as the Executive Director for the
Authority. The Executive Director shall have such duties as shall be assigned from time to time
by the Board of the Authority.
Section 2. This resolution shall take effect immediately.
********************
PFA C2 - 2
ATTACHMENT 1
2 OHSUSA:759339626.1
PASSED AND ADOPTED this 2nd day of December, 2014, by the following vote:
AYES: Directors:
NOES: Directors:
ABSENT: Directors:
APPROVED:
Chair
[SEAL]
ATTEST:
Secretary
APPROVED AS TO FORM:
Authority Counsel
PFA C2 - 3
ATTACHMENT 1
OHSUSA:759339626.1
SECRETARY’S CERTIFICATE
I, the undersigned, duly appointed and qualified Secretary of the San Luis Obispo Public
Financing Authority (the “Authority”), certify that attached is a full, true and correct copy of
Authority Resolution No. _____, adopted December 2, 2014, during a meeting of the governing
board of the Authority. Such meeting was duly and legally held at the regular meeting place of
the Authority. All of the members of said governing board had due notice of such meeting and a
majority thereof was present at such meeting.
I have carefully compared the same with the original minutes of said meeting on file and
of record in my office, and the foregoing is a full, true and correct copy of such resolution
adopted at said meeting and entered in said minutes. Said resolution has not been amended,
modified or rescinded since the date of its adoption, and the same is now in full force and effect.
Dated:
Secretary
PFA C2 - 4