Resolution 2016-55RESOLUTION NO. 2016-55
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GILROY
AUTHORIZING THE CITY ADMINISTRATOR TO EXECUTE
DOCUMENTS REQUIRED TO PROVIDE A LOAN GUARANTY IN A
LIMITED MAXIMUM AMOUNT FOR THE SILICON VALLEY CLEAN
ENERGY AUTHORITY
WHEREAS, the City of Gilroy is a member of the Silicon Valley Clean Energy
Authority ( "SVCEA "), which was created by a Joint Powers Agreement to which Gilroy is a
Ply; and
WHEREAS, the SVCEA intends to acquire a Non - Revolving Credit arrangement from
River City Bank of Sacramento ( "Bank ") in the total amount of Two Million Dollars
($2,000,000) ; and
WHEREAS, the Bank requires that the Non - Revolving Credit be guaranteed by the
County of Santa Clara and the charter cities that are members of the SVCEA (Mountain View,
Sunnyvale, and Gilroy) and therefore able to give such guaranty, and that each such entity
provide such authority by resolution; and
WHEREAS, at the duly- noticed regular City Council meeting on September 12, 2016,
the City Council of the City of Gilroy agendized as an item of new business possible
participation by the City in executing such a loan guaranty, and by motion agreed to provide such
guarantee and to authorize the City Administrator to execute appropriate documents therefor.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF GILROY, AS FOLLOWS:
The City Council hereby ratifies the authority given to the City Administrator by motion
at the September 12, 2016, City Council meeting, and expressly authorizes the City
Administrator to sign a loan guaranty and any other required documents to effectuate a guaranty
on the part of the City of Gilroy of the Non - Revolving Credit for the SVCEA in a guaranteed
amount not to exceed Two Hundred Twenty Thousand Dollars ($220,000).
RESOLUTION NO. 2016-55
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PASSED AND ADOPTED this 7th day of November, 2016, by the following roll call
vote:
AYES: COUNCILMEMBERS: BRACCO, HARNEY, LEROE- MUNOZ,
TUCKER, VELASCO and WOODWARD
NOES: COUNCILMEMBERS: NONE
ABSENT: COUNCILMEMBERS: AULMAN
RESOLUTION NO. 2016-55
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I, SHAWNA FREELS, City Clerk of the City of Gilroy, do hereby certify that the
attached Resolution No. 2016 -55 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 7" day of November, 2016 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 15� day of November, 2016.
Sn'M Freels, MMC
City Clerk of the City of Gilroy
(Seal)