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TO: BOARD OF SUPERVISORS
Costa
FROM: Harvey E. Bragdon
Director of Community Development °as;A�__. ='I Wuly
DATE: May 8, 1990
SUBJECT: Joint Powers Agreement for the California Statewide Communities
Development Authority.
SPECIFIC REQUEST(S) OR RECOMMENDATIONS(S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS
Adopt resolution approving an Amended and Restated Joint Exercise
of Powers Agreement relating to the California Statewide
Communities Development Authority and authorize the Chair, the
County Administrator, the Redevelopment Director or Community
Development Director to execute said document.
FISCAL IMPACT
None
BACKGROUND/REASONS FOR RECOMMENDATIONS
The County has - been an issuer of Industrial Development Bonds to
finance manufacturing and fabricating operations.: From time to
time the County has been approached by prospective users of
Industrial Development Bond (IDB) financing, who are very small and
could efficiently utilize IDB financing only as part of a larger
pool. Because the County was unable to put together such a pool
the prospective user . was unable to access 1IDB financing.
California Statewide Communities Development Corporation, which is
sponsored by the County Supervisors Association of': California, the
League of California Cities, and the California Manufacturers '
Association provides an opportunity for these small` IDB users. The
County can join a Joint Powers Authority by approving- a Joint
Powers Agreement.
CONTINUED ON ATTACHMENT: YES SIGNATURE:
RECOMMENDATION OF COUNTY ADMINISTRATOR RECONIlYEENDAT , 7
N OF BOAR15 COMMI E
APPROVE OTHER
SIGNATURE(S) :
ACTION OF BOARD ON APPROVED AS RECOMMENDED x OTHER
VOTE OF SUPERVISORS .
I HEREBY CERTIFY THAT THIS IS A
x UNANIMOUS (ABSENT ) TRUE AND CORRECT COPY OF AN
AYES: NOES: ACTION TAKEN AND ENTERED .ON THE
ABSENT: ABSTAIN: MINUTES OF THE BOARD OF
SUPERVISORS ON THE DATE SHOWN.
cc: Community Development ATTESTED MAY 5 1990
CAO PHIL BATCHELOR, CLERK OF
County Counsel THE BOARD OF SUPERVISORS
AND :COUNTY ADMINISTRATOR
BY , DEPUTY