HomeMy WebLinkAbout1981-531
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) RESOLUTION NO. 81-531____
2 RESOLUTION OF THE CITY OF SAN BERNARDINO ADOPTING A HOME
MORTGAGE FINANCE PROGRAM IN COOPERATION WITH THE COUNTY OF SAN
3 BERNARDINO.
4 WHEREAS, there is a shortage in the County of San Bernardino
5 (the "County") and in the City of San Bernardino (the "City") of
6 decent, safe and sanitary housing, particularly of housing
7 affordable by persons in the lower end of the purchasing spectrum,
8 and a consequent need to encourage the construction and
9 rehabilitation of homes affordable by such persons and otherwise
10 to increase the housing supply in the City and in the County for
I) such persons; and
12 WHEREAS, the County of San Bernardino (the "County") adopted
13 a Housing Finance Revenue Bond Program (the "Program") by
14 Ordinance No. 2496 on November 17, 1980 pursuant to Part 5 of
15 Division 31 of the Health and Safety Code of the State of
16 California (the "Act") to ease the shortage in the County of
17 decent, safe and sanitary housing, particularly of housing
18 affordable by persons in the lower end of the purchasing spectrum,
19 to encourage the construction and rehabilitation of homes
20 affordable by such persons and to otherwise increase the housing
21 supply in the County for such persons; and
22 WHEREAS, the County issued the County of San Bernardino
23 Housing Finance Revenue Bonds, Issue A, on December 31, 1980; and
24 WHEREAS, the County has determined that a substantial housing
25 need exists in the County and that issuance of County of San
26 Bernardino Housing Finance Revenue Bonds, Issue B, ("Issue B") is
27 necessary to meet said need under the Program; and
28 WHEREAS, the Mayor and Common Council of the City find and
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1 determine that it is in the best interest of the City to adopt the
2 Program and to consent to the operation of the Program by the
3 County within the geographic boundaries of the City pursuant to
4 the Act in connection with the issuance of Issue B,
5 NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COMMON COUNCIl
6 OF THE CITY OF SAN BERNARDINO AS FOLLOWS:
7
SECTION 1. The City hereby adopts the Program for the
8 purpose of increasing the housing supply in the County and in the
9 City and consents to the operation of the Program by the County
10 with respect to all property located within the geographical
11 boundaries of the City.
12
SECTION 2. The cooperative agreement, dated as of October
13 15, 1981, between the County and the City (the "Agreement to ), in
14 substantially the form submitted to this meeting, is hereby
15 approved, and the proper ofxicers for the City are hereby
16 authorized and directed to execute and deliver said Agreement, for
17 and in the name and on behalf of the City, and to approve any
18 additions to or changes in the form of said Agreement submitted
19 to this meeting which they deem necessary or advisable, their
20 approval of such additions or changes to be conclusively
21 evidenced by their execution of said Agreement as so added to or
22 changed. The proper officers of the City are further authorized
23 to enter into such additional agreements with the County, execute
24 such other documents or take such other actions as they may deem
25 necessary or appropriate to carry out the purpose and intent of
26 the Agreement or to cooperate in the implementation of the Program.
27
SECTION 3. The City hereby agrees not to engage in any
28 competing home mortgage finance program under the Act until at
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1 least 90% of the home mortgages to be finances by the County under
2 the Program with the proceeds of Issue B have been made or acquire .
3
SECTION 4. The City hereby assigns to the County all of the
4 principal amount of qualified mortgage bonds which the City is
5 allocated pursuant to Section 4(a) of the proclamation of the
6 Governor of the State of California, dated August 6, 1981, for the
7 calendar year 1981, all as set forth in the Agreement.
8
SECTION 5. This resolution shall take effect from and after
9 its adoption.
10 I HEREBY CERTIFY that the foregoing resolution was duly
]1 adopted by the Mayor and Common Council of the City of San
]2
Bernardino at a
meeting thereof, held
reqular
J3
on the 2nd
day of
, 1981, by the following
November
]4 vote, to wit:
]5
AYES:
Council Members Castaneda. Reillv. Hernandez.
16
Botts. Hobbs. Strickler
]7
NAYS:
None
]8
ABSENT:
None
]9
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-' City Clerk
20
21
The foregoing resolution is hereby
...3u day
22
of
November
, 1981.
23
24
25
-e
as to form:
26
27
28
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CLERK'S CERTIFICATE
I,
. t1!;/7///J4 /llori
, Clerk of the City
of San Bernardino (the "City"), hereby certify as follows:
The foregoing is a full, true and correct copy of a
resolution duly adopted at a regular meeting of the Council
of the City duly and regularly and legally held at the
regular meeting place thereof on November 2, 1981
,
of which meeting all of said members had due notice and at
which at least a majority thereof were present;
At said meeting said resolution was adopted by the
following vote:
AYES: Council Members: Castaneda, Reilly, Hernandez,
Botts, Hobbs, Strickler
NOES: Members: None
ABSENT:
Members: None
I have carefully compared the foregoing with the
original minutes of said meeting on file and of record in my
office; and the foregoing is a full, true and correct copy of
the original resolution adopted at said meeting and entered
in said minutes;
Said original resolution has not been amended,
modified or rescinded since the date of its adoption, and the
same is now in full force and effect.
Dated: ~~A/1'? /Y'.#/
~//~~
Clerk of the City of San Bernardino