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GPFFA and City Resolution 2003-47 RESOLUTION NO. 2003-47 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GILROY CLARIFYING PROVISIONS OF THE JOINT EXERCISE OF POWERS AGREEMENT FORMING THE GILROY PUBliC FACILITES 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 know 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 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 whereas the versions 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 \NVH\594263.1 01.070903.()4706081 1 Resolution No. 2003-47 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 City Council wishes to clarify the number of Board Members of the Authority as stated in the Agreement; and WHEREAS, the City Council wishes to clarify that the reference to the Community Redevelopment Agency of the City of Gilroy is actually 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 Community Redevelopment Agency of the City of Gilroy and the Community Development Agency of the City of Gilroy are one in the same and shall be referred to as the Community Development Agency of the City of Gilroy. PASSED AND ADOPTED this 7th day of July, 2003, by the following vote: AYES: COUNCILMEMBERS: ARELLANO, DILLON, GARTMAN, MORALES, VELASCO, and SPRINGER NOES: COUNCILMEMBERS: NONE ABSENT: COUNCILMEMBERS: PINHEIRO A-L, APPROVED: ~ ~"'- L, /fP- Thomas W. Springer, Ma - \NVH\594263.1 01-070903-04706081 2 Resolution No. 2003-47 I, RHONDA PELLIN, City Clerk of the City of Gilroy, do hereby certify that the attached Resolution No. 2003-47 is an original resolution, or true and correct copy of a city resolution, duly adopted by the Council of the City of Gilroy at a regular meeting of said Council 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. (Seal)