HomeMy WebLinkAbout20 - OFCA CC-1 - OCFA Resolution Dissolving the OCFA - 2/17/2015ORANGE COUNTY FAIRGROUNDS
AUTHORITYAGENDA REPORT
MEETING DATE: FEBRUARY 17, 2015 ITEM NUMBER: OCFA CC -1
SUBJECT: ORANGE COUNTY FAIRGROUNDS AUTHORITY RESOLUTION DISSOLVING THE
ORANGE COUNTY FAIRGROUNDS AUTHORITY
DATE: February 6, 2015
FROM: CITY CLERK'S OFFICE
PRESENTATION BY: BRENDA GREEN, CITY CLERK
FOR FURTHER INFORMATION CONTACT: Brenda Green, City Clerk, (714) 754-5221
RECOMMENDATION:
Staff recommends the Orange County Fairgrounds Authority:
Adopt minutes of June 22, 2010 Special Meeting; and
2. Adopt Resolution No. OCFA 15-01 to be read by title only and further reading waived: A
RESOLUTION OF THE BOARD OF THE ORANGE COUNTY FAIRGROUNDS
AUTHORITY, AUTHORIZING DISSOLUTION OF THE ORANGE COUNTY
FAIRGROUNDS AUTHORITY.
BACKGROUND:
On May 18, 2010, the Costa Mesa City Council and the Costa Mesa Public Financing
Authority adopted separate resolutions authorizing the formation of the Orange County
Fairgrounds Authority ("OCFA"). The purpose of OCFA was to acquire the Orange County
Fair and Event Center from the State of California and assume the operations. Ultimately
the State of California decided to not sell the property. No meetings of the Authority have
been held since August 2010 and the State Controller's office recommends dissolving the
Authority.
Article IV, Section 3 of OCFA's bylaws provides that OCFA may dissolve with the approval
of all its members and after a majority vote of its Directors so long as OCFA has no
outstanding indebtedness and is not a party to any outstanding material contracts.
After the City and the Financing Authority adopt resolutions authorizing the dissolution of
OCFA, the OCFA can dissolve by a majority vote of its Directors. The OCFA must adopt a
resolution that makes findings that it has no outstanding indebtedness and that OCFA is not
a party to an outstanding material contract. This same resolution can simultaneously
dissolve the OCFA by majority vote, which when passed, will formally dissolve OCFA.
Attached to this Agenda Report as Attachment 1 is the Orange County Fairgrounds Authority
Resolution authorizing dissolution.
FISCAL REVIEW:
None
LEGAL REVIEW:
The City Attorney has approved the resolution as to form.
CONCLUSION:
Dissolving the Authority must be adopted by resolution of OCFA after the City and Public
Financing Authority authorize dissolution.
BRENDA GREEN RICK FRANCIS
City Clerk Assistant Chief Executive Officer
ATTACHMENTS: 2 1.Minutes of June 22, 2010 Minutes
2. Orange County Fairgrounds Authority
Resolution authorizina dissolution of OCFA
2