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RESOLUTION NO. 10560 (2014 Series) <br /> A RESOLUTION OF THE PARKING AUTHORITY OF THE CITY OF SAN LUIS <br /> OBISPO, CALIFORNIA, APPROVING A .JOINT EXERCISE OF POWERS <br /> AGREEMENT CREATING THE SAN LUIS 013IS130 PUBLIC FINANCING <br /> AUTHORITY, AND AUTHORIZiiNG CERTAIN OTHER RELATED ACTIONS <br /> WHEREAS, the Joint Exercise of Powers Act (Government Code section 6500 and <br /> following) (the "Act') authorizes two or more public agencies to enter into an agreement to <br /> jointly exercise any power common to them. The Act also authorizes the public agencies to <br /> provide in the agreement for the creation of a separate joint-powers authority that has the power <br /> to exercise any powers common to the agencies as specified in the agreement and to exercise the <br /> additional powers granted to the joint-powers authority by the Act or other applicable law; and <br /> WHEREAS, The Parking Authority and the City of San Luis Obispo are public agencies <br /> under the Act. and they desire to create a Joint-powers authority, to be known as the'San Luis <br /> Obispo Public Financing Authority (the "Financing Authority"), for the purposes of assisting any <br /> member agency of the Financing Authority (each a "Member") with the following: acquiring, <br /> constructing, improving, rehabilitating, or financing capital improvements or other assets; <br /> Financing working capital and addressing other cash flow needs; refinancing any outstanding <br /> obligations; and making loans to or otherwise assisting with financings for entities (public or <br /> private) that are not Members but are either controlled by a Member or determined by a Member <br /> to be of benefit to the Member: and <br /> WHEREAS, the Parking Authority desires to enter into ajoint-powers agreement that is <br /> substantially in the form on file with the Clerk of the City of San Luis Obispo (the "Clerk"), a <br /> copy of which is attached to this resolution (the "Agreement"), for the purposes set forth in the <br /> Agreement and described above and to exercise the powers provided in the Agreement and under <br /> the Act and other applicable law. <br /> NOW, THEREFORE BE IT RESOLVED by the Parking Authority of the City of San <br /> Luis Obispo, as follows: <br /> SECTION 1. The Parking Authority finds that the above recitals are true and correct. <br /> SECTION 2. The proposed form of the Agreement on file with the Clerk is hereby <br /> approved. The Mayor, acting as the Chairperson of the Parking Authority or the Director of <br /> Finance and Information Technology (each an "Authorized Officer"), is hereby authorized and <br /> directed, on the Parking Authority's behalf; to sign and deliver the Agreement, which must be <br /> substantially in the form on file with the Clerk, with such changes as the signing Authorized <br /> Officer may require or approve with the concurrence of legal counsel to the Parking Authority, <br /> such approval to be conclusively evidenced by the execution and delivery of the Agreement. <br /> SECTION 3. The Clerk or the Clerk's designee is hereby authorized to attest the <br /> signature of the Authorized Officer who signs the Agreement. <br /> SECTION 4. Each Authorized Officer acting alone is hereby authorized and directed to <br /> do any and all things and to sign and deliver any documents he or she may deem necessary or <br /> R 10560 <br />