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GPFFA and City Resolution 2003-01 . . RESOLUTION NO. 2003-01 RESOLUTION OF THE BOARD OF DIRECTORS OF THE REDEVELOPMENT AGENCY OF THE CITY OF GILROY CLARIFYING PROVISIONS OF THE JOINT EXERCISE OF POWERS AGREEMENT FORMING THE GILROY PUBliC FACILITIES FINANCING AUTHORITY WHEREAS, on March 21, 1994, the City Council of the City of Gilroy and the Board of Directors of the Redevelopment Agency of the City of Gilroy, also known as the Community Development Agency, adopted Resolution No. 94-22 and Resolution No. 94-1, respectively, approving that certain document entitled "Joint Exercise of Powers Agreement Gilroy Public Facilities Financing Authority" ("Agreement"), establishing the Gilroy Public Facilities Financing Authority ("Authority"); and WHEREAS, the Board of Directors of the Community Development Agency of the City of Gilroy are the same persons as the members of the City Council of the City of Gilroy, and the Chairperson and Vice Chairperson of the Board of Directors of the Community Development Agency are the same persons as the Mayor and the Mayor Pro 'rempore of the City Council; and WHEREAS, the Agreement provides that the Authority shall be administered by a Board, the members of which are the City Council of the City and the members of the Governing Board of the Community Development Agency ex officio; and WHEREAS, the version of the Agreement signed by the Community Development Agency contained a clerical error stating that the Board shall consist of five (5) Board Members, unlike the version of the Agreement approved by the City Council which properly stated the Board to consist of seven (7) Board Members, and also referred to the Community Development Agency of the City of Gilroy as the "Community Redevelopment Agency" of the City of Gilroy \NVH\594326.1 01-070303-04706081 -1- Resolution No. 2003-01 . . whereas the version approved by the City Council referred to the Community Development Agency of the City of Gilroy; and WHEREAS, the version of the Agreement that contained the clerical error was the version ultimately executed by the parties; and WHEREAS, the intent of the City Council and Community Development Agency Board was to have the Board of the Authority consist of seven (7) members in recognition that both the City Council and Community Development Agency Board consist of seven (7) members, and the Board of Directors wishes to clarify the number of Board Members of the Authority as stated in the Agreement; and WHEREAS, the Board of Directors wishes to clarify that the "Community Redevelopment Agency" of the City of Gilroy is the Redevelopment Agency of the City of Gilroy, also known as the Community Development Agency of the City of Gilroy. NOW, THEREFORE, BE IT RESOLVED THAT: A. The first full sentence of Section 2.03 of the Agreement is clarified to read, "The Authority shall be administered by a Board of seven (7) Board Members." B. The Redevelopment Agency of the City of Gilroy, the Community Redevelopment Agency of the City of Gilroy, and the Community Development Agency of the City of Gilroy are one and the same and shall be referred to as the Community Development Agency of the City of Gilroy. \NVH\594326.1 01-070303-04706081 -2- Resolution No. 2003-01 .. . . I, RHONDA PELLIN, Secretary of the Board of Directors ofthe Redevelopment Agency, do hereby certify that the attached Resolution No. 2003-01 is an original resolution, or true and correct copy of an Agency resolution, duly adopted by the Redevelopment Agency at a regular meeting of said Agency held on the 7th day of July, 2003, 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 17th day of July, 2003. ~ t / , , City Clerk of the City ~ (Seal)