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Home My WebLink AboutSA-RDA 0831 1 1 RESOLUTION NO. SA -RDA 083 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY APPROVING A TERMINATION AGREEMENT TO DISSOLVE THE RIVERSIDE COUNTY PALM DESERT FINANCING AUTHORITY AND TAKING CERTAIN RELATED ACTIONS RECITALS: A. Pursuant to AB X1 26 (enacted in June 2011), and the California Supreme Court's decision in California Redevelopment Association, et al. v. Ana Matosantos, et al., 53 Cal. 4th 231 (2011), all redevelopment agencies in the State of California, including the former Palm Desert Redevelopment Agency (the "Former Agency"), dissolved as of February 1, 2012, and the Successor Agency of Palm Desert Redevelopment Agency (the "Successor Agency") was established as the successor entity to the Former Agency, tasked with the wind -down of the Former Agency's affairs. B. The Riverside County Palm Desert Financing Authority (the "RCPDFA") is a joint powers agency formed and existing pursuant to the Joint Exercise of Powers Act, set forth in California Government Code Section 6500 et seq. (the "Act"), and a Joint Exercise of Powers Agreement, dated as of January 1, 2002 (the "Original Agreement"), as amended by an Amendment No. 1 to Joint Exercise of Powers Agreement, dated as of October 1, 2002 (together with the Original Agreement, the "Joint Powers Agreement"), each by and between the County of Riverside (the "County") and the Former Agency. C. The RCPDFA was formed to assist with the financing of public improvements and working capital for public benefit, consistent with Article 4 of the Act. D. The RCPDFA issued two series of bonds: (i) Lease Revenue Bonds (County Facilities Project), 2003 Series A (the "2003 Bonds"), and (ii) Lease Revenue Bonds (County Facilities Project, 2008 Series A (the "2008 Bonds"). E. Both the 2003 Bonds and the 2008 Bonds have been fully paid and are no longer outstanding. F. Pursuant to the Act, the Joint Powers Agreement will continue until rescinded or terminated. G. The Joint Powers Agreement provides that it may be terminated at any time that no bonds, notes, certificates of participation or other obligations (collectively, "Bonds") are outstanding. W.1Staff Reports - Shared 21Staff Reports 02-25-202114 -City Clerk - 02-25-2021\11 Dissolve RCPDFA\02 RCPDFA Dissolution - SARDA resolution,docx RESOLUTION NO. SA -RDA 083 H. At this time, there are no Bonds outstanding and the RCPDFA has no outstanding unpaid costs, expenses and charges, and has no assets. f. There has been prepared the form of an agreement (the "Termination Agreement"), in the form attached as Exhibit A, to terminate the Joint Powers Agreement and dissolve the RCPDFA. NOW, THEREFORE, THE BOARD OF DIRECTORS OF THE SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY, HEREBY FINDS, DETERMINES, RESOLVES, AND ORDERS AS FOLLOWS: Section 1. The above recitals are true and correct and are a substantive part of this Resolution. Section 2. The Termination Agreement, in the form attached as Exhibit A, is hereby approved. The dissolution of the RCPDFA pursuant to the Termination Agreement is approved. Each of the Chair of this Board, the Vice Chair of this Board and the Executive Director of the Successor Agency (each, an "Authorized Officer"), acting individually, is hereby authorized to execute and deliver, for and in the name of the Successor Agency, the Termination Agreement, with changes therein as the Authorized Officer may approve (such approval to be conclusively evidenced by the execution and delivery thereof). Section 3. This Board hereby requests the Countywide Oversight Board of the County of Riverside (the "Oversight Board") to approve the execution and delivery of the Termination Agreement. The Successor Agency Board Secretary is hereby directed to transmit this Resolution to the Oversight Board for consideration at the earliest possible date. Section 4. The Chair, Vice Chair, Executive Director and all other officers of the Successor Agency are hereby authorized, jointly and severally, to execute and deliver such instruments and do such other things (including, but not limited to, the completion of any filings with the Secretary of State, as applicable) which they may deem necessary or advisable in order to effectuate the purposes of this Resolution and the Termination Agreement, and such actions previously taken by such officers are hereby ratified and confirmed. W:1Staff Reports - Shared 21Staff Reports 02-25-2021\4 -City Clerk - 02-25-2021 \11 Dissolve RCPDFA102 RCPDFA Dissolution - SARDA resolution.docx2 RESOLUTION NO. SA -RDA 083 1 PASSED, APPROVED AND ADOPTED this 25th day of February, 2021. AYES: HARNIK, JONATHAN, NESTANDE, QUINTANILLA, and KELLY NOES: NONE ABSENT: NONE ABSTAIN: NONE ATTEST: ik„( KATHELEE,NA J /_ /add( GqACE L. ROCHA, ACTING SECRETARY SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY W \Staff Reports - Shared 21Staff Reports 02-25.202114 -City Clerk - 02-25-2021111 Dissolve RCPDFA102 RCPDFA Dissolution - SARDA resolution docx3 RESOLUTION NO. SA -RDA 083 [This page has intentionally been left blank.] 1 1 1 State of California a Secretary of State AMENDMENT OF A JOINT POWERS AGREEMENT (Government Code section 6503.5) Instructions: 1. Complete and mail to: Secretary of State, P.O. Box 942870, Sacramento, CA 94277-2870. 2. Include filing fee of $1.00. 3. Do not include attachments. FILE NO. FILED Secretary of State State of California JUL - 6 2021 (Office Use Only) 4. A copy of the full text of the joint powers agreement and amendments, if any, must be submitted to the State Controller's office. For address information, contact the State Controller's office at www.sco.ca.cov. Date of filing initial notice with the Secretary of State: September 26, 2003 File number of initial notice: 1864 Name of the agency or entity created under the agreement and responsible for the administration of the agreement: Riverside County Palm DesertFinancing Authority Agency's or Entity's Mailing Address: 73-510 Fred Waring Drive Title of the agreement: original agreement: Joint Powers Exercise of Powers Agreement, dated January 1, 2002 new agreement: Termination Agreement, dated July 1, 2021 Complete one or more boxes below. The agreement has been amended to: [ ] Change the parties to the agreement as follows: ] Change the name of the administering agency or entity as follows: ] Change the purpose of the agreement or the powers to be exercised as follows: ] Change the short title of the agreement as follows: [ - ] Make other changes to the agreement as follows: dissolve the Riverside County Palmal(J O�/�Desert Financing Authority RETURN ACKNOWLEDGMENT TO: (Type or Print) //f//' 1 r V-'V r Date 1 NAME I veronica Tapia, Sr. Mgmt Analyst, City of Palm Desert / ADDRESS 73-510 Fred Waring Drive gna Ur I Palm DesertCA 92260 M. Glorla Chez, ACti / city of Palm Desert CITY/STATE/ZIP L J ng CI O of Typed Name and Title SEMTATE NPSFa BR 04=15 Linda A. Gibson k /9r 75n //RWG LAW July 22, 2021 Veronica Tapia Sr. Management Analyst City of Palm Desert 73-510 Fred Waring Drive Palm Desert, CA 92260 Re: Amendment of a Joint Powers Agreement Dear Veronica, f 213,626,8484 r 213.626.0078 E Igibson@rwglaw.com 350 South Grand Avenue 37th Floor Los Angeles, CA 90071 rwglaw.com Enclosed for your files is a conformed copy of the Amendment of a Joint Powers Agreement which was filed in the California Secretary of State's office on July 6, 2021. I am also returning the Registry of Public Agencies filing as the Secretary of State indicated that this was not needed. I don't think there is any need to keep this, but you might want to keep it with the Amendment, just in case. Please feel free to call or email me with any questions. Very truly yours, Linda A. Gibson Legal Assistant Enclosure(s) P6401-0001\2559740vi.doc Los Angeles San Francisco Orange County Temecula Central Coast