Resolution - 6924RESOLUTION NO. 6924
RESOLUTION OF THE CITY COUNCIL OF WEST COVINA
AUTHORIZING AND DIRECTING EXECUTION OF FIRST AMENDMENT
TO JOINT EXERCISE OF POWERS AGREEMENT WITH COUNTY OF LOS ANGELES
WHEREAS, the City of West Covina (the "City") and the County of Los
Angeles (the "County") have heretofore entered into that certain Joint
Exercise of Powers Agreement Between the City of West Covina and the County
of Los Angeles creating the Los Angeles County - West Covina Civic Center
Authority, dated January 10, 1967 (the "Joint Powers Agreement");
and
WHEREAS, Section 2 of the Joint Powers Agreement provides that the
Joint Powers Agreement shall continue in full force and effect for a period
of fifty years from the date thereof or until all revenue bonds therein
provided for and issued pursuant thereto and the interest thereon shall
have been paid in full or adequate provision for such payment shall have
been made as set forth in the proceedings for the issuance thereof,
whichever date is earlier; and
WHEREAS, the Los Angeles County - West Covina Civic Center
Authority created by the Joint Powers Agreement (the "Authority") and the
City have heretofore entered into that certain West Covina Administrative
and Police Buildings Lease, dated as of June 5, 1967, and that certain
Parking Addition Sublease, dated as of July 15, 1972, pursuant to which the
Authority has acquired and constructed certain civic center improvements
• (the "Facilities") and leased said improvements and the respective sites
thereof (the "Sites") to the City; and
WHEREAS, the City has requested the Authority to refinance the
Facilities by amending and restating said leases in full at this time, in
consideration of the payment to the City of an amount reflecting the
present interest of the City in the leasehold estate under said leases; and
WHEREAS, in connection with such transaction provision will be made
for payment of all revenue bonds of the Authority issued to finance the
Facilities, and it is necessary and desirable to amend Section 2 of the
Joint Powers Agreement to provide that the Joint Powers Agreement is not
thereby terminated and that the term thereof extends through the term of
such transaction; and
WHEREAS, to that end the City has requested the County to enter
into that certain First Amendment to Joint Exercise of Powers Agreement, in
substantially the form on file with the City Clerk (the "First Amendment");
NOW, THEREFORE, BE IT RESOLVED BY THE City Council of the City of
West Covina as follows:
Section 1. Approval of First Amendment. The City Council hereby
approves the amendment of the Joint Powers Agreement pursuant to the First
Amendment in substantially the form on file with the City Clerk. The Mayor
• and the City Clerk are hereby authorized and directed for and in the name
and on behalf of the City to execute, attest and affix the seal of the City
to said form of First Amendment.
RESOLUTION NO. 6924
-2-
SSection 2. Effective Date. This Resolution shall take effect from
and after the date of its passage adoption.
PASSED AND ADOPTED this 27th day of August, 1984, by the following
vote:
AYES: Manners, Chappell, Shearer and Bacon
NOES: 0
ABSENT: Tennant
May �
Attest:
City Cle
• (SEAL)
•