HomeMy WebLinkAboutINDUSTRIAL DEVELOPMENT AUTHORITYREL- jd
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AGREEMENT BETWEEN THE CITY OF SANTA ANA AND
THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE
CITY OF SANTA AN A FOR OPERATING SERVICES
THIS AGREEMENT, made and entered into this 21st
day of February 1984, by and between the City of
Santa Ana, a municipal corporation of the State of California,
hereinafter referred to as "City", and the Industrial Develop-
ment Authority of the City of Santa Ana, a public, corporate
instrumentality of the State of California, hereinafter re-
ferred to as "Authority."
W I T T N E S S E T H
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A. The Authority was created within the City by
the California Industrial Development Financing Act (California
Government Code §§ 91500 et seq.) and commenced the transaction
of business and the exercise of its powers pursuant to City's
ordinance No. NS-1559, adopted January 5, 1981 (S.A.M.C. §§ 2-630
et seq. )
B. Pursuant to Section 91527 of the abovesaid Act,
the Authority has the power to contract and pay compensation
for professional, financial and other services.
C. The City is able and willing to provide adminis-
trative staff support services to the Authority through its
officers, agents and employees to assist the Authority in the
transaction of its business.
D. In the course of its business the Authority,
from time to time, receives remuneration for its business
activities, including the payment to the Authority of fees
and charges for the processing of development projects and
the sale of bonds for the financing thereof pursuant to the
abovesaid Act.
E. The parties do now desire to provide for the
payment of such remuneration by the Authority to the City as
compensation for the administrative staff services performed
for the Authority by the City.
WHEREFORE, for and in consideration of their mutual
and respective covenants and promises hereinafter set forth,
and subject to the terms and conditions of this Agreement,
the parties hereto do hereby agree as follows:
1. The officers, agents, and employees of the
City shall perform services for the Authority in accordance
with the directions of City's City Manager or his designated
representative.
2. The Authority shall pay to the City, as compen-
sation for such services, any and all amounts received by the
Authority as remuneration for its business activities, including
fees and charges received for the procuring'of development pro-
jects and the sale of bonds for the financing thereof.
3. All payments received by the City pursuant to
this Agreement shall be credited to budgetary accounts in the
same manner as similar payments received by the City in the
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processing of development projects and bonds pertaining thereto
pursuant to Chapter 28 of the Santa Ana Municipal Code.
4. It shall be the responsibility of the officers,
agents and employees of the City who are performing services
for the Authority to prepare the billing therefor and to provide
a copy of such billing to City's Director of Finance for entry
into the accounts receivable of the appropriate billing agency
of the City.
IN WITNESS WHEREOF, the parties hereto have executed
this Agreement the date and year first above written.
ATTEST: CITY OFSANTA ANA
y ;.
nice C. Guy ob W. Luxembour
Jerk of the Council May
ATTEST: INDUSTRIAL DEVELOPMENT AUTHORITY
OF THE CITY O ' SANTA NA
By : ��fSp�S
anice C, Guy - R er fuxembourgeq4
Secretary Chair n
APPROVED AS TO FORM:
E ward Z��/Authority
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City At Legal Counsel
Apr rov . d S to cok
City Mager
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