HomeMy WebLinkAboutReso. 1984 - 199 - Authorizing the execution of a standard agreement and other documents to secure a commitment of funds • • . .
RESOLUTION NO. FYI
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING
AUTHORIZING THE EXECUTION OF A STANDARD AGREEMENT AND OTHER
DOCUMENTS TO SECURE A COMMITMENT OF FUNDS FROM THE DEFERRED
PAYMENT REHABILITATION LOAN PROGRAM OF THE STATE OF CALIFOR-
NIA.
WHEREAS , pursuant to Sections 50660 through 50670 of the
California Health and Safety Code, the California Department of
Housing and Community Development (hereinafter referred to as the
State) is authorized to provide funds for the rehabilitation of
housing in designated areas; and
WHEREAS , the City of Redding (hereinafter referred to as the
Local Entity) , a local public agency organized under the statutes
of the State of California, is eligible to receive said funds and
has applied to the State for a commitment of said funds;
NOW, THEREFORE, BE IT RESOLVED that the Local Entity be
hereby authorized to enter into Standard Agreement with the State
to accept a commitment in a total amount not to exceed Fifty
Thousand and 00/100 Dollars ($50 , 000 . 00) for purposes of lending
deferred payment loans for housing rehabilitation, subject to the
terms of said agreement and to the rules and regulations govern-
ing the use of said funds.
BE IT FURTHER RESOLVED that the Local Entity be hereby
authorized to enter into appropriate documents with the State and
that the City MAnager is hereby authorized to execute, in the
name of the Local Entity, said Standard Agreement and other
documents required to consummate this transaction.
• 0 • . . .
BE IT FURTHER RESOLVED that the Housing and Redevelopment
Administrator is hereby authorized to execute all documents
required to make and record each individual loan under this
program to program participants.
I HEREBY CERTIFY that the foregoing resolution was intro-
duced and read at a regular meeting of the City Council of the
City of Redding on the 17th day of September , 1984 , and
was duly adopted at said meeting by the following vote:
AYES: COUNCILMEN: Demsher, Fulton, Gard
NOES: COUNCILMEN: None
ABSENT: COUNCILMEN: Pugh, Kirkpatrick
ABSTAIN: COUNCILMEN: None
I /
111;..4: . 1 e. A ,. dri ii,.. ,or, A „.
:ARBA+ ALLEN GARD, Vice Mayor
City of Redding
ATTEST• Q., /zee'
L.AI ,ifir„— ,, ./ -4, ILi;...i / de/1 r.
/ ETHEL A. NICHOLS, Cite Cl— k 1
FORM AP5ROVED:
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RA 'ALL A. HAYS, Cit,e7 Attorney
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