RESOLUTION NO. ____________
RESOLUTION OF THE SAN MATEO COUNTY
BOARD OF SUPERVISORS
APPROVING ASSOCIATE MEMBERSHIP AGREEMENT
WITH THE INDEPENDENT CITIES LEASE FINANCE AUTHORITY
AND PROVIDING OTHER MATTERS PROPERLY RELATING THERETO
RESOLVED, by the Board of Supervisors of the County of San Mateo, State of California, that:
WHEREAS, certain cities of the State of California (collectively, the "Members") have entered into a Joint Powers Agreement Creating the Independent Cities Lease Finance Authority (the "Joint Powers Agreement"), establishing the Independent Cities Lease Finance Authority (the "Authority") and prescribing its purposes and powers, and providing, among other things, for associate members of the Authority (an "Associate Member");
WHEREAS, the Authority has been formed for the purpose, among others, of assisting its Members and Associate Members in the raising of capital to finance the capital improvement needs of Local Agencies (as defined in the Joint Powers Agreement), to provide for home mortgage financing with respect to those Members or Associate Members that are either a city or a county of the State of California, to provide financing in connection with the improvement, construction, acquisition, creation, rehabilitation and preservation of affordable housing within the boundaries of the Members and Associate Members, and to provide financing in accordance with the provisions of applicable law in connection with other projects and programs that are in the public interest and which benefit Members and Associate Members including making loans to tax-exempt organizations from the proceeds of mortgage revenue bonds to finance the acquisition of multi-family rental housing, including mobilehome parks, under the provisions of Chapter 8 of Part 5 of Division 31 (commencing with Section 52100) of the Health and Safety Code;
WHEREAS, the County of San Mateo (the "County") desires to become an Associate Member of the Authority as provided in the Associate Membership Agreement, in the form on file with the Clerk of the Board;
NOW, THEREFORE, IT IS HEREBY DETERMINED AND ORDERED as follows:
Section 1. Approval of Associate Membership Agreement. The Board of Supervisors hereby approves the County's membership in the Authority as an Associate Member and authorizes the President of the Board to execute and the Clerk of the Board to attest the Associate Membership Agreement, in substantially the form on file with the Clerk of the Board, pursuant to which the County shall become an Associate Member of the Authority.
Section 2. Official Actions. The President, the Vice President, the County Manager, the Clerk of the Board, and any other officers of the County, are hereby authorized and directed to take all actions and do all things necessary or desirable hereunder with respect to the Associate Membership Agreement, including but not limited to, the execution and delivery of any an all agreements, certificates, instruments and other documents which they, or any of them, may deem necessary or desirable and not inconsistent with the purposes of this Resolution.
Section 3. Effective Date. This Resolution shall take effect from and after the date of its passage and adoption.