Resolution No. GPFFA 2023-03 | Adopting GPFFA Budget for FY 23-24 | Adopted 02/27/2023
RESOLUTION NO. GPFFA 2023-03
RESOLUTION OF THE BOARD OF DIRECTORS OF THE
GILROY PUBLIC FACILITIES FINANCING AUTHORITY
ADOPTING THE BUDGET FOR SAID AUTHORITY FOR
FISCAL YEAR 2023-24
WHEREAS, the Gilroy Public Facilities Financing Authority (“Authority”) was
established by the City of Gilroy (“City”) and the Community Development Agency of the
City of Gilroy on March 21, 1994, pursuant to a joint powers agreement entitled “Joint
Exercise of Powers Agreement Gilroy Public Facilities Financing Authority” (as amended,
the “Agreement”) for the purpose, among others, of providing for the financing and
refinancing of public capital improvements for the City; and
WHEREAS, the Agreement was amended by the “First Amendment to Joint
Powers Agreement” on July 1, 2013, to replace the Community Development Agency of
the City of Gilroy with the Industrial Development Authority of the City of Gilroy as a party
to the Agreement; and
WHEREAS, Section 3.02 of the Agreement states that the Treasurer of the
Authority shall be the depositary for the Authority and have custody of all accounts, funds,
and money of the Authority; and
WHEREAS, Section 6.04 of the Agreement states that the Board of Directors
(“Board”) shall adopt a budget for administrative expenses annually prior to March 1 st of
each year; and
WHEREAS, Section 6.04 of the Agreement also states that annual budget shall
include all administrative expenses not included in any bond issue of the Authority; and
WHEREAS, the Treasurer of the Authority anticipates no administrative revenues
or expenses for the Fiscal Year 2023-24; and
WHEREAS, the Treasurer of the Authority is proposing that the Board of the
Authority adopt a budget for Fiscal Year 2023-24 which provides for anticipated revenue
totaling $0 and anticipated administrative expenses totaling $0; and
WHEREAS, the said proposed budget for Fiscal Year 2023-24 is now before the
Board for adoption and said Board is satisfied with said budget.
NOW, THEREFORE, BE IT RESOLVED that each of the foregoing recitals is true
and correct.
BE IT FURTHER RESOLVED that the said proposed budget, including the
anticipated revenues and administrative expenses, shall be and hereby is adopted as the
budget of the Authority for the Fiscal Year 2023 -24.
BE IT FURTHER RESOLVED that this resolution shall become effective
immediately.
Resolution No. GPFFA 2023-03
Adopting GPFFA Budget for FY 23-24
Gilroy Public Facilities Financing Authority Regular Meeting | February 27, 2023
Page 1 of 1
PASSED and ADOPTED this 27th day of February 2023 by the following roll call
vote:
AYES: BOARD MEMBERS: ARMENDARIZ, BRACCO, CLINE, HILTON,
MARQUES, TOVAR, BLANKLEY
NOES: BOARD MEMBERS: NONE
ABSTAIN: BOARD MEMBERS: NONE
ABSENT: BOARD MEMBERS: NONE
APPROVED:
Marie Blankley, Chair
ATTEST:
_______________________
Thai Nam Pham, Secretary
Marie Blankley (Mar 1, 2023 10:17 PST)
Marie Blankley
CERTIFICATE OF THE SECRETARY
I, THAI NAM PHAM, Secretary of Gilroy Public Finance Facilities Authority, do
hereby certify that the attached Resolution No. GPFFA 2023-03 is an original resolution,
or true and correct copy of a authority Resolution, duly adopted by the Gilroy Public
Finance Facilities Authority at a Regular Meeting of said held on Monday, February 27,
2023, at which meeting a quorum was present.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the Official
Seal of the City of Gilroy this Monday, February 27, 2023.
____________________________________
Thai Nam Pham, Secretary