HomeMy WebLinkAbout15-09 - Dissolution of OC Fairgrounds AuthorityRESOLUTION NO. 15-09
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COSTA MESA
CALIFORNIA AUTHORIZING DISSOLUTION OF THE ORANGE COUNTY
FAIRGROUNDS AUTHORITY
WHEREAS, on May 18, 2010, the Costa Mesa City Council adopted Resolution No.
10-31 that authorized the formation of the Orange County Fairgrounds Authority ("OCFA")
with the Costa Mesa Public Financing Authority; and
WHEREAS, on May 18, 2010 the City and the Financing Authority approved a Joint
Exercise of Powers Agreement that created OCFA; and
WHEREAS, 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: and
WHEREAS, the City desires to express its approval of the dissolution of the OCFA
in accordance with the Article IV, Section 3 of OCFA's bylaws.
NOW THEREFORE, the City Council of the City of Costa Mesa resolves as
follows:
The City of Costa Mesa, as a member of OCFA, approves of the dissolution of OCFA
in accordance with Article IV, Section 3 of OCFA's bylaws provided that all necessary
perquisites of dissolution are complied with.
Resolution No. 15-09 Page 1 of 2
PAS
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aiepnen iw. iviensinger, r
Costa Mesa City Council
JOED this 17th day of February, 2015.
ATTEST: APPROVED AS TO FORM:
Bred Greene Clerk �RThom s Duarte, Cit Attorne
Y � Y Y
STATE OF CALIFORNIA
COUNTY OF ORANGE ) ss
CITY OF COSTA MESA )
1, BRENDA GREEN, City Clerk of the City of Costa Mesa, do hereby certify that the
foregoing Resolution was passed and adopted at a meeting of the City of Costa Mesa City
Council held on February 17, 2015; by the following votes:
AYES:
COUNCIL MEMBERS:
Foley, Genis, Monahan; Righeimer; Mensinger
NOES:
COUNCIL MEMBERS:
None
ABSENT:
COUNCIL MEMBERS:
None
ABSTAIN:
COUNCIL MEMBERS:
None
IN WITNESS WHEREOF, I have hereby set my hand and affixed the seal of the City of
Costa Mesa this 17th day of February, 2015.
Brenda Green
Costa Mesa City Clerk
Resolution No. 15-09 Page 2 of 2