2022/08/31 California Enterprise Development Authority Associate Membership Agreement - Fully ExecutedASSOCIATE Mf, MBERSHIP AGREEMENT
by and between the
CALIFORNIA ENTERPRISE DEVELOPMENT AUTHORITY
and the
CITY OF MENIFEE, CALIFORNIA
THIS ASSOCIATE MEMBERSHIP AGREEMENT (this "Associate Membership
Agreement"), dated as of Z by and between CALIFORNIA
ority") and the CITY OF MENIF'EE,EN'IERPRISL, DEVI]LOPMEN'I' A OR (the "Auth
CALIFORNIA, a municipal corporation, duly organized and existing under the laws of the State
of California (the "City");
8
WITNESSETH:
WHEREAS, the Cities of Selma, Lancaster and Eureka (individually, a "Member" and
collectively, the "Members"), have entered into a Joint Powers Agreement, dated as of June l,
2006 (the "Agreement"), establishing the Authority and prescribing its purposes and powers; and
WHEREAS, the Agreement designates the Executive Committee of the Board of Directors
and the President of the Califomia Association for Local Economic Development as the initial
Board of Directors ofthe Authorily; and
WHEREAS, the Authority has been formed for the purpose, among others, to assist for
profit and nonprofit corporations and other entities to obtain financing for projects and purposes
serving the public interest; and
WHEREAS, the Agreement permits any other local agency in the state of california to
join the Authority as an associate member (an "Associate Member"); and
WHtrREAS, the City desires to become an Associate Member of the Authority;
WHEREAS, City council of the City has adopted a resolution approving the Associate
Membership Agreement and the execution and delivery thereof;
WHEREAS, the Board of Directors of the Authority has determined that the City should
become an Associate Member of the Authority;
NOW, THEREFOR-E, in consideration of the above premises and of the mutual promises
herein contained, the Authority and the City do hereby agree as follows:
Section l. Associate Member Status. The City is hereby made an Associate Member ol
the Authority for all purposes of the Agreement and the Bylaws ofthe Authority, the provisions
of which are hereby incorporated herein by reference. From and after the date of execution and
delivery of this Associate Membership Agreement by the City and the Authority, the City shall be
and remain an Associate Member of the Authority.
Section 2. Restrictions and Rishts of Associate Members.The City shall not have the
Seclion 3 of Prior rit Action . The City hereby agrees to be subject to and
right, as an Associate Member of the Authority, to vote on any action taken by the Board of
Directors or by the Voting Members of the Authority. In addition, no oflficer, employee or
representative ofthe City shall have any right to become an ofTicer or director ofthe Authority by
virtue of the City being an Associate Member of the Authority.
bound by all actions previously taken by the Members and the Board of Directors ofthe Authority
to the same extent as the Members ofthe Authority are subject to and bound by such actions.
Sec'lrbr r'. No Obli ions of Associate Members. The debts , liabilities and obligations oft
Agreement and the Agreement shall satisfy the requirements of the Agreement and Article xll
thl Bylaws ofthe Auihority for participation by the City in all programs and other undertakin
of
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the Authority shall not be the debts, liabilities and obligations ofthe City.
Seclion 5 Execution of the A ent. Execution of this Associate Membership
ofthe Authority.
lN WITNESS WHEREOF, the parties hereto have caused this Associate Membership
Agreement to be executed and attested by their proper officers thereunto duly authorized, on the
day and year first set forth above'
CALIFORNIA f,NTERPRISE
DEVELOP AUT o TY
By:
ahota,r
Board of Directors
Attest:
hens, Asst. Sei
9
Michell p
0urbax
Attest:
te
Acting City Clerk
Approve as to Form:
Je e lch in g.
City Attomey
CITY OF MENIFEE, CALIFORNIA
By:
Armando . Villa.
City Manager
t0