-1-
10000-0259\2984429v1.doc
RESOLUTION NO. 11
RESOLUTION OF THE BOARD OF DIRECTORS OF THE
HAWTHORNE PUBLIC FINANCING AUTHORITY REGARDING
DATE AND TIME OF REGULAR MEETINGS
WHEREAS, the Hawthorne Public Financing Authority (the “Authority”) is a joint exercise of powers authority created pursuant to a Joint Powers Agreement (the “Agreement”), dated as of November 23, 1992, for the purpose of assisting the City of Hawthorne (the “City”) and the Community Redevelopment Agency of the City of Hawthorne (the “Agency”) in the financing and refinancing of public capital improvements, and in order to provide such assistance the Authority issues its bonds from time to time or, pursuant to Government Code Section 6589, purchases bonds on a negotiated basis from the Agency from time to time; and WHEREAS, Section 6592.1 of the Government Code provides that a resolution authorizing bonds or any issuance of bonds, or accepting the benefit of any bonds or the proceeds of bonds, shall be adopted by a joint exercise of powers authority only during a regular meeting held pursuant to the Ralph M. Brown Act; and
WHEREAS, Resolution No. 3, adopted by the Authority Board on July 10, 1995 (“Resolution No. 3”), provides that the Authority Board’s regular meetings are held at 7:00 p.m. in the Hawthorne Civic Center, 4455 West 126th Street, Hawthorne, California, on the second Monday of January and July of each year, or at such other times as the Board may fix by resolution; and WHEREAS, in order to provide more flexibility to the Authority in providing assistance to the City and to the Agency in the financing and refinancing of public capital improvements, the Authority Board wishes to establish periodic regular meetings which coincide with regular meetings of the City Council of the City; NOW, THEREFORE, BE IT RESOLVED by the board of directors of the Hawthorne Public Financing Authority as follows:
SECTION 1. Rescinding Resolution No. 3. Effective as of the date of approval of this Resolution, Resolution No. 3 is hereby rescinded in its entirety.
SECTION 2. Time of Regular Meetings. As of the effective date of this Resolution, regular meetings of the Board of Directors of the Authority shall be held at the time and place of each regular meeting of the City Council of the City.
SECTION 3. Circumstances Under Which A Regular Meeting Is Cancelled. In the event an agenda for a regular meeting of the Authority is not posted timely in accordance with the provisions of Section 54954.2 of the Government Code, such regular meeting is cancelled without any further action of the Authority Board or any officer of the Authority, except as may be required by the Ralph M. Brown Act. -2-
10000-0259\2984429v1.doc
SECTION 4. Effective Date. This Resolution shall take effect immediately upon its passage and adoption.
PASSED, APPROVED AND ADOPTED this 23 day of July 2024.
_____________________________
ALEX VARGAS, Chairman
Hawthorne Public Financing Authority
ATTEST:
DAYNA WILLIAMS-HUNTER, Secretary
Hawthorne Public Financing Authority
APPROVED AS TO FORM:
__________________________________
ROBERT M. KIM, Legal Counsel
Hawthorne Public Financing Authority