HomeMy WebLinkAbout1997-5532
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RESOLUTION NO. 5531
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RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE
3 CITY OF SAN BERNARDINO AUTHORIZING THE EXECUTION OF AN AFFORDABLE
HOUSING SUBSIDY AGREEMENT BETWEEN THE ECONOMIC DEVELOPMENT
4 AGENCY OF THE CITY OF SAN BERNARDINO AND COAST FEDERAL BANK, FEDERAL
SAVINGS BANK.
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BE IT RESOLVED BY THE COMMUNITY DEVELOPMENT COMMISSION OF THE
6 CITY OF SAN BERNARDINO AS FOLLOWS:
7 SECTION 1. The Chairman is hereby authorized and directed to execute on behalf of
8 said Commission an Affordable Housing Subsidy Agreement between the ECONOMIC
9 DEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO AND COAST FEDERAL
10 BANK, FEDERAL SAVINGS BANK (a copy of which is attached hereto as Exhibit "A").
11 SECTION 2. The authorization to execute the above-referenced agreement is rescinded
12 if the parties to the agreement fail to execute it within sixty (60) days of the passage of this
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HTC:ea[Housing.res] 1
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