HomeMy WebLinkAboutRES CC 2005 2423 2005 1207RESOLUTION NO. 2005 -2423
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF MOORPARK, CALIFORNIA, AUTHORIZING THE
DISSOLUTION OF THE VENTURA CITIES MORTGAGE
FINANCING AUTHORITY (VCMFA), TERMINATING THE
JOINT POWERS AGREEMENT (JPA) WHICH CREATED
THE VCMFA, RESCINDING RESOLUTIONS NO. 99-
1592 AND NO. 2002 -1941, AND PROVIDING FOR
OTHER ASSOCIATED ADMINISTRATIVE MATTERS
WHEREAS, the City of Moorpark, a municipal corporation, is
a duly authorized member of the Ventura Cities Mortgage Finance
Authority (VCMFA), along with certain other cities within the
County of Ventura, through a Joint Powers Agreement (JPA); and
WHEREAS, the VCMFA "Fresh Rate" Mortgage Finance Program
provided for the issuance of bonds to finance down payment
assistance and mortgage finance programs; and
WHEREAS, all principal and interest on the above - referenced
bonds have been paid in full, and the VCMFA has fulfilled its
purpose and needs to be dissolved at this time.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF MOORPARK
DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. The City Council hereby authorizes the
dissolution of the JPA and termination of the VCMFA.
SECTION 2. The Mayor is directed to execute an
Agreement to Terminate the Joint Powers Agreement Creating the
Ventura Cities Mortgage Financing Authority and to Dissolve the
Ventura Cities Mortgage Financing Authority and any related
documents.
Resolution No. 2005 -2423
Page 2
SECTION 3. Resolutions Nos. 99 -1592 and 2002 -1941 are
hereby rescinded.
SECTION 4. The City Clerk shall certify to the adoption
of this resolution and shall cause a certified resolution to be
filed in the book of original Resolj ions.
PASSED AND ADOPTED thi
ATTEST:
Deborah S. Traffenst , City Cler
Resolution No. 2005 -2423
Page 3
STATE OF CALIFORNIA )
COUNTY OF VENTURA )
CITY OF MOORPARK )
ss.
I, Deborah S. Traffenstedt, City Clerk of the City of
Moorpark, California, do hereby certify under penalty of perjury
that the foregoing Resolution No. 2005 -2423 was adopted by the
City Council of the City of Moorpark at a regular meeting held
on the 7th day of December, 2005, and that the same was adopted
by the following vote:
AYES: Councilmembers Harper,
and Mayor Hunter
NOES: None
ABSENT: None
ABSTAIN: None
Mikos, Millhouse, Parvin
WITNESS my hand and the official seal of said City this
13th day of December, 2005.
I 9- aei�t�'4 —
Deborah S. Traffenste , City Clerk
(seal)