2009/02/25 Council Agenda Packet

J NOW, THEREFORE, it is hereby resolved by the City Council of the City of Everett as follows: Section 1. The recitals above are hereby incorporated into this Resolution by this reference. Section 2. The Mayor is authorized to: 2.1 execute, deliver and file (or cause to be executed, delivered and filed) the Company certificate of formation, the Company operating agreement and all forms, certificates, applications and other documents that are necessary to form the Company; 2.2 approve, execute and deliver an application to the CDFI and any collateral documentation the Mayor deems reasonable in order to certify the Company as a Community Development Entity; 2.3 approve, execute and deliver an application to the CDFI and any collateral documentation the Mayor deems reasonable; in order to apply for an NMTC Allocation; 2.4 seek investors to purchase the New Markets Tax Credits allocated to the Company; 2.5 act as the Company's Authorized Representative; 2.6 review and present to City Council any and all proposed QLICI into any QALICB, following the receipt of any and all Advisory Board recommendations with regard to all proposed QLICIs; and 2.7 take any other action that he deems necessary and advisable to give effect to these resolutions and the transactions contemplated herein. Any actions of the City, or the Mayor, taken prior to the date hereof and consistent with the intent of these resolutions are hereby ratified and confirmed. Councilperson Introducing Resolution PASSED and APPROVED this 24th day of February, 2009. Council President 19