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RESOLUTION NO. 82-314
RESOLUTION OF THE CITY OF SAN BERNARDINO AUTHORIZING THE
TRANSFER OF HOME MORTGAGE BOND ALLOCATIONS FROM THE CITY OF SAN
BERNARDINO TO THE COUNTY OF SAN BERNARDINO BY AN AMENDMENT TO THE
COOPERATIVE AGREEMENT WITH THE COUNTY OF SAN BERNARDINO; AND
REPEALING RESOLUTION NO. 82-229.
WHEREAS, pursuant to Section 50191(b) of the Health and
Code of the State of California, on February 19, 1982, the
Bond Allocation Committee of the State of California
entitlement and supplementary allocations of $11.2
llion and $5.0 million, respectively, for qualified mortgage
nds to be issued by the City of San Bernardino (the "City")
thin 180 days after the date of approval; and
WHEREAS, pursuant to Section 50191.5(a) of said Code, said
ttee subsequently approved an additional entitlement
location of $3.8 million for said purpose; and
WHEREAS, pursuant to Section 50192 of said Code the City may
written agreement assign to the County of San Bernardino (the
) all the City's entitlement allocation provided that such
signment is solely for use by the County to provide financing
properties located within the City (including a proportionate
of costs of issuance, underwriters' discount, capitalized
rest, reserve funds, and similar expenses associated with the
inancing); and
WHEREAS, it is in the best interests of the City to assign
is entitlement allocation to the County as aforesaid,
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COMMON
AS FOLLOWS:
SECTION 1. The City, by Amendment to the Cooperative
ement, attached hereto as Exhibit "A", hereby assigns to the
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County all of its entitlement allocation for use by the County in
the County's proposed issuance of mortgage revenue bonds as
aforesaid in accordance with state law and other applicable laws.
SECTION 2. The Mayor of the City of San Bernardino is hereby
authorized and directed to execute on behalf of said City
Amendment No. 1 with the County of San Bernardino relating to
transfer of home mortgage bond allocations from the City to the
County, a copy of which is attached hereto, marked Exhibit "A" and
incorporated herein by reference as fully as though set forth at
length.
SECTION 3. Resolution No. 82-229 is hereby repealed.
I HEREBY CERTIFY that the foregoing resolution was duly
adopted by the Mayor and Common Council of the City of San
Bernardino at a regular meeting thereof, held
on the 19th day of July , 1982, by the following
vote, to wit:
AYES: Council Members Castaneda, Reilly, Hernandez, Quiel,
Hobbs, Strickler
NAYS: None
ABSENT: Council Member Botts
City Clerk
The foregoing resolution is hereby approved 0702a4,,,day
of July 1982.
Approved as toforrm:
,,or
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AMENDMENT NO. -I.
THIS AMENDMENT NO. 1, made and entered into as of June
, 1982, by and between the County of San Bernardino, (the
"County") and the City of San Bernardino, (the "City"),
W I T N E S S E T H:
WHEREAS, the County and the City have entered into a
Cooperative Agreement, dated as of May 17, 1982 (the "Cooperative
Agreement"), providing that the City will cooperate with the
County in the financing of home mortgages with respect to property
located within the geographic boundaries of the City pursuant to
the County's housing finance revenue bond program; and
WHEREAS, the parties hereto are desirous of amending the
Cooperative Agreement as set forth in this Amendment No. 1;
NOW, THEREFORE, in consideration of the premises and of the
mutual covenants and conditions hereinafter provided, the parties
hereto agree as follows:
1. Sections 4 and 5 of the Agreement shall be renumbered as
ections 6 and 7, respectively.'
2. New Sections 4 and 5 shall be added to the Cooperative
ment to read as follows:
Section 4. The City hereby agrees to take all actions
and execute all documents necessary or appropriate to
assign its entitlement allocation to the County
pursuant to and in accordance with Section 50192 of
the Health and Safety Code of the State of California.
Section 5. In consideration of the assignment by the
City of its entitlement allocation to the County, the
County hereby agrees that the entitlement allocation
so assigned is solely and exclusively for use by the
County to provide financing for properties located
within the City (including a proportionate share of
costs of issuance, underwriter's discount, capitalized
interest, reserve funds, and similar expenses
associated with the financing), and the County does
hereby further agree that it will not, for any reason,
take advantage of that provision of the last phrase of
Section 50192 of the Health and Safety Code of the
State of California which would allow it to reallocate
any portion of that entitlement hereby assigned by
City for development outside the boundaries of the
City.
IN WITNESS WHEREOF, the parties hereto have caused this
ment No. 1 to be executed and attested by their proper
ers thereunto duly authorized, and their official seals to be
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hereto affixed,
all as
of the day first above written.
2CITY
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OF SAN BERNARDINO
ATTEST:
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ATTEST,.:�-'�,
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'Clerk, B and of
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M yor
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City Clerk
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Approved as to
forFa;
-'Original signed
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By Edward Duddy, '�
DOD. County Counsal't
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City Attorney
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(SEAL)
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ATTEST,.:�-'�,
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'Clerk, B and of
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Supervisors
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Approved as'to
form:
-'Original signed
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By Edward Duddy, '�
DOD. County Counsal't
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County Counsel
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(SEAL)
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w.
COUNTY OF SAN BERNARDINO
BY
Chairman, Board of Supervisors
A! e�2? W7