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HomeMy WebLinkAbout1985-156 RESOLUTION NO. 85-156 A RESOLUTION ADOPTING A HOUSING FINANCE REVENUE BOND PROGRAM IN COOPERATION WITH THE COUNTY OF SAN BERNARDINO AND AUTHORIZING THE MAYOR TO EXECUTE FOR AND ON BEHALF OF THE CITY A COOPERATIVE AGREEMENT BETWEEN THE COUNTY OF SAN BERNARDINO AND THE CITY OF SAN BERNARDINO WHEREAS, there is a shortage in the County of San Bernardino (the "County") and in the City of San Bernardino (the "City") of decent, safe and sanitary housing, particularly of housing affordable by persons in the lower end of the purchasing spectrum, and a consequent need to encourage the construction of homes affordable by such persons and otherwise to increase the housing supply in the County and in the City of such persons; and WHEREAS, the Board of Supervisors of the County has adopted an ordinance dec 1 ari ng its intent to engage in a hous i ng fi nance revenue bond program (the "Program") pursuant to Chapters 1-5 of Part 5 of Division 31 of the Health and Safety Code of the State of Ca 1 iforni a (the "Act") and to issue bonds pursuant to the Act to provide funds for the Program; and WHEREAS, the Council finds and determines that it is in the best interest of the City to adopt the Program and to consent to the operation of the Program by the County within the geographic boundaries of the City pursuant to the Act. NOW, THEREFORE, BE IT RESOLVED, by the Council of the City of San Bernardino, as follows: 1. The City hereby adopts the Program for the purpose of increasing the housing supply in the County and in the City and consents to the operation of the Program by the County with respect to all property located within the geographical boundaries of the City. 2. The cooperative agreement, dated as of l)tJt4d- f, 1985, between the County and the City (the "Agreement"), a copy of w~tached hereto as Exhibit A, is hereby approved, and the Mayor is hereby authorized and directed to execute and deliver said Agreement, for and in the name and on behalf of the City. The Mayor, with the advi ce and consent of the City Attorney, is authori zed to approve any additions to or changes in the form of said Agreement deemed necessary or advisable, approval of such additions or changes to be conclusively evidenced by execution by the Mayor of said Agreement as so added to or changed. The Mayor, with the advice and consent of the City Attorney, is further authorized to enter into (such additional agreements with the County, execute such) other documents or take such other actions as they may deem necessary or appropriate to carry out the purpose and intent of the Agreement or to cooperate in the implementation of the Program. I HEREBY CERTIFY that the foregoing resolution was duly adopted by the Mayor and Common Council of the City of San Ber- nardino at an adjourned regular meeting thereof, held on the 29th day of April, 1985, by the following vote, to wit: AYES: Council Members Castaneda. Reillv. Hernandez. Mn.rk~r Oni~l FrRzi~r Strickler NAYS: None ABSENT: Nonp. ~7//A?/~Ab / City Clerk of May , 1985. day The foregoing resolution is hereby approved Approved as to form: ~~~ - I ~ / -- COOPERATIVE AGREEMENT BETWEEN THE COUNTY OF SAN BERNARDINO AND THE CITY OF SAN BERNARDINO THIS COOPERATIVE AGREEMENT (the "Agreement"), made and entered into as of t.Z' 1, 1985 by and between the County of San Bernardino, a legal subd vision and body corporate and politic of the State of California (the "County"), and the City of San Bernardino, a political subdivision of the State of California (the "City"), WIT N E SSE T H : ---------- WHEREAS, the County has determi ned to engage in a housi ng fi nance revenue bond program pursuant to Chapters 1-5 of Part 5 of Division 31 of the Health and Safety Code of the State of California (the "Act") to make or purchase, di rectly or i ndi rectly, loans to fi nance the constructi on or acqui s ition of homes in the County, a 11 as provi ded for in the Act (the "Program"); and WHEREAS, the County, pursuant to the Act, has determi ned to cooperate with the City pursuant to the Act in the exercise of its powers under the Act for purposes of the Program; NOW, THEREFORE, in consideration of the mutual covenants hereinafter provided, the parties hereto agree as follows: SECTION 1. The terms used in this Agreement shall, for all purposes of this Agreement, un 1 ess otherwi se defi ned herei n, have the meani ngs ass i gned to such terms in the Act. SECTION 2. The County agrees to undertake the Program and to issue its Residential Mortgage Revenue Bonds, Issue of 1985 (the "Bonds") therefore pursuant to the Act as soon as practicable. SECTION 3. The City hereby agrees to cooperate with the County in the exercise jointly or otherwise of their powers for the purpose of financing home mortgages pursuant to the Act from the proceeds of the Bonds by agreeing that the County shall exerci se such powers to make or acqui re home mortgages under the Program, all as more specifically set forth in the Act, with respect to property located within the geographic boundaries of the City. SECTION 4. The City agrees to undertake such further proceedings or actions as may be necessary in order to carry out the terms and the intent of thi s Agreement. Nothing in this Agreement shall prevent the County from entering into one or more agreements with other political subdivision within the County, if deemed necessary and advisable to do so by the County. SECTION 5. Thi s Agreement may be amended by one or more supp lementa 1 agreements executed by the County and the Ci ty at any time, except that no such amendment or supplement shall be make which shall adversely affect the rights of the holders of any bonds issued by the County pursuant to the Act in connecti on with the Program. IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed and attested by their proper officers thereunto duly authorized, and their official seals to be hereto affixed, all as of the day first above written. CITY OF ::NTYO~ ~ ~d ,f ,"p",f"" Chairman ATTEST: ATTEST: By: ~~~ /Clty erk By: ~[7~~' eputy er oar 0 up~sors , , \ I APPROVED AS'TO FORM: , . i APPROVED AS TO FORM: ~YA .. ~ 0 By: d /?Hf-<-G-- Ci ttor'ney BY' h~; ~~ Deputy 9'ount unse [Seal] [Seal]