RESOLUTION IDAR2025___
RESOLUTION OF THE CITY OF NAPA INDUSTRIAL DEVELOPMENT AUTHORITY APPROVING AND AUTHORIZING THE NAPA INDUSTRIAL DEVELOPMENT AUTHORITY TREASURER TO EXECUTE A JOINT EXERCISE OF POWERS AGREEMENT WITH THE CITY OF NAPA ESTABLISHING THE CITY OF NAPA JOINT PUBLIC FINANCE AUTHORITY WHEREAS, City staff is recommending that the City of Napa Industrial Development Authority (the “Industrial Development Authority”) and the City of Napa (the “City”) form a joint powers authority under the provisions of Article 1 (commencing with Section 6500) of Chapter 5, Division 7, Title 1 of the Government Code of the State of California (the “Joint Powers Law”), for the purpose of creating a public agency which can provide financial assistance to the Industrial Development Authority and the City in connection with the construction of public capital improvements and other purposes specified in the Joint Powers Law; and WHEREAS, to that end, City staff is now recommending that the Industrial Development Authority approve and authorize the Industrial Development Authority Treasurer to execute a Joint Exercise of Powers Agreement between the Industrial Development Authority and the City, establishing the City of Napa Joint Public Finance Authority as a joint powers authority under the Joint Powers Law; and WHEREAS, the Board of Directors of the Industrial Development Authority has considered all information related to this matter, as presented at the public meetings of the Board of Directors of the Industrial Development Authority identified herein, including any supporting reports by City Staff, and any information provided during public meetings.
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the Napa Industrial Development Authority as follows:
1. The Board of Directors hereby finds that the facts set forth in the recitals to this Resolution are true and correct, and establish the factual basis for the Board of Director’s adoption of this Resolution
2. The Board of Directors of the Industrial Development Authority hereby approves and authorizes the Industrial Development Authority Treasurer to execute a Joint Exercise of Powers Agreement between the Industrial Development Authority and the City establishing the City of Napa Joint Public Finance Authority (the “Finance Authority”) under Joint Powers Law. The Secretary of the Industrial Development Authority is hereby authorized and directed to attest, said Joint Exercise of Powers Agreement in the name and on behalf of the Industrial Development Authority.
3. The firm of Jones Hall LLP, as bond counsel to the City, is hereby authorized and directed to cause to be prepared, executed and filed any and all reports, statements and other documents as may be required in order to implement the establishment of the Finance Authority.
4. This Resolution shall take effect immediately upon its adoption.
I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the Board of Directors of the City of Napa Industrial Development Authority at a public meeting of said Board of Directors held on the 5th day of August, 2025, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
ATTEST: ________________________
Tiffany Carranza
Secretary
Approved as to form:
__________________
Christopher J. Diaz
Interim City Attorney
ATTACHMENT 1
IDAR2025-XXX Page PAGE 1 of NUMPAGES 2 August 5, 2025 ATTACHMENT 1
IDAR2025-XXX Page PAGE 1 of NUMPAGES 3 August 5, 2025