HomeMy WebLinkAboutAgreement A-16-049 for Cash Adv and Repayment.pdfAgreement No. 16-049
AGREEMENT FOR CASH ADVANCES AND REPAYMENT
This Agreement for Cash Advances and Repayment ("Agreement") is made and
entered into by and between the COUNTY OF FRESNO, a political subdivision of the
State of California ("Fresno") and the San Joaquin Valley Insurance Authority ("SJVIA,"
or "the Authority"). Fresno and SJVIA each are a "Party" to this Agreement; and Fresno
and SJVIA collectively are the "Parties" to this Agreement.
WHEREAS, Fresno, the County of Tulare ("Tulare"), and the Central San
-Joaquin Valley Risk Management Authority, a joint powers authority ("CSJVRMA"), are
the members of the SJVIA, a joint powers agency separate and apart from such
members and created by such members pursuant to Title 1, Division 7, Chapter 5,
Article 1 (beginning with section 6500) of the California Government Code (the "Joint
Powers Law") under that certain "Amended and Restated Joint Exercise Of Powers
Agreement Creating The San Joaquin Valley Insurance Authority (SJVIA)," effective as
of January 1, 2016 (the "SJVIA Joint Powers Agreement"); and
WHEREAS, under the Joint Powers Agreement, the SJVIA negotiates,
purchases or otherwise funds health, pharmacy, vision, dental, and life insurance for the
employees of Fresno, certain employees of Tulare, and employees of certain approved
public agencies, known as participating entities, under certain conditions, in all instances
subject to obtaining a financial commitment by the parties to the SJVIA Joint Powers
Agreement and such other participating public agencies to pay for their respective costs
of that insurance as provided in the SJVIA Joint Powers Agreement; and
WHEREAS, both Fresno and Tulare have, under Government Code section
6504, subdivision (c), the authority to provide advances of public funds to the SJVIA for
the purposes set forth in SJVIA Joint Powers Agreement; specifically, Article 5 of the
SJVIA Joint Powers Agreement provides that the SJVIA shall have all powers set forth in
the Joint Powers Law, and is authorized to do all acts necessary for the exercise of
those powers, and that such powers include, but are not limited to, receiving and using
contributions and advances from any party or parties to the SJVIA Joint Powers
Agreement, or participating entity or entities in the SJVIA as provided in Government
Code section 6504; and
WHEREAS, Article 5, paragraph (f), of the SJVIA Joint Powers Agreement also
provides that the SJVIA has the authority to repay advances made on or after December
15, 2015, by any party to the SJVIA Joint Powers Agreement on terms established in
that paragraph or by separate written agreement; and
WHEREAS, the SJVIA has requested that Fresno and Tulare each make
available for advance up to $2,000,000, as needed by the SJVIA to temporarily assist
the SJVIA in managing its cash flow needs; and
WHEREAS, the use of a short-term cash advance and repayment is the most
cost effective method to ensure that the SJVIA has sufficient cash to pay its costs for the
purposes of the SJVIA Joint Powers Agreement; and
WHEREAS, the Fresno County Auditor-Controller/Treasurer-Tax Collector has
recommended to the Board of Supervisors of the County of Fresno, and by its adoption
1
IN WITNESS WHEREOF , the Parties hereto have executed this AGREEMENT FOR
CASH ADVANCES AND REPAYMENT as of the date and year first written above .
COUNTY OF FRESNO
£__..:;. ~ ~(.___
Ernest Buddy Mendes,
Chairman, Board of Supervisors
usseau, County Administrative Officer
PROVED AS TO LrA FORM
Daniel C. Cederberg ,
couJitX gounrl <0
//){/!! v l , I
By: Deputy
APPROVED AS TO ACCOUNTING FORM
ATIEST:
BERNICE E . SEIDEL, Clerk
Board of Supervisors
By .S.U.. £-AI)>, 6-1 s b~
Depu
Vicki Crow, C.P.A., Auditor-ControllerfTreasurer-Tax Collector
By: -i);J" ~
REVIEWED & RECOMMENDED
FOR APPROVAL
APPROVED AS TO LEGAL FORM
Ka.t4L u .... 8 a le s-~a. .... ,e..
Daniel c . Ceaereeff.J ,
County Counsel
BY : ~ 2 ~c::J1> (
D puty
9