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File #: 19-1494    Version: 1 Name:
Type: Informational Report Status: Passed
File created: 10/3/2019 In control: County Administrative Office
On agenda: 10/15/2019 Final action: 10/15/2019
Title: Golden State Finance Authority Amended Joint Powers Agreement and Resolution
Attachments: 1. Staff Report, 2. Proposed Resolution for GSFA 2019 JPA Approval, 3. Golden State Finance Authority Amended Joint Exercise of Powers Agreement 2019, 4. GSFA Memo and Track Changes JPA 2019, 5. Resolution 19-98, 6. Executed Golden State Finance Authority Amended Joint Exercise of Powers Agreement 2019.pdf

To: Board of Supervisors

From: County Administrative Office

Agenda Section: Consent

SUBJECT:
title
Golden State Finance Authority Amended Joint Powers Agreement and Resolution
end

RECOMMENDATION(S):
Recommendation
That the Board of Supervisors:
1. Approve the Golden State Finance Authority Amended Joint Powers Agreement and attached Resolution; and
2. Direct the Clerk of the Board to transmit the fully executed Resolution and Humboldt County signature page to the Executive Director of the Golden State Finance Authority at 1215 K Street, Suite# 1650, Sacramento, CA 95814.

Body
SOURCE OF FUNDING:
N/A

DISCUSSION:
Humboldt County is a member of Rural County Representatives of California (RCRC) and its affiliate Golden State Finance Authority (GSFA). Member counties are being asked to review and approve proposed amendments to the Joint Powers Agreement and adopt a Resolution before October 18, 2019.

The GSFA Board of Directors memo explaining the purpose for the proposed revisions is attached for reference. As indicated in the memo, the primary specific revisions to the agreement are as follows:

* Expressly authorizing GSFA to establish and operate programs and projects to promote public safety, economic development, and environmental protection, including without limitation forest resiliency, wildfire risk reduction, air quality improvement, and waste diversion and reuse.
* Clarifying that GSFA may finance the preservation of real property and infrastructure.
* Incorporating recent amendments to the Property-Assessed Clean Energy (PACE) statutes expanding the types of improvements that may be financed through that program.
* Expressly authorizing GSFA to issue Industrial Development Bonds for qualifying projects.
* Specifically referencing GSFA's ability to create nonprofit corporations.
* Other technical amendments to revise obsolete language or conform to current practice.


FINANCIAL IMPACT:
There is no financial impact associated w...

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