HomeMy WebLinkAboutReso. 1983 - 100 - Resolution of the city council of the city of redding assigning the city's allocation of qualified mortgage bonds 110 411
RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF REDDING ASSIGNING THE CITY' S
ALLOCATION OF QUALIFIED MORTGAGE
BONDS TO THE REDDING-SHASTA
HOME FINANCING AUTHORITY
Resolution No. (3 510 (�
WHEREAS, the City of Redding (the "City" ) has
received from the Mortgage Bond Allocation Committee an
allocation of qualified mortgage bonds (the "Allocation" )
pursuant to Sections 50189 and 50191 of the Health and Safety
Code of the State of California (the "Code" ) ;
WHEREAS, the City has, by ordinance, adopted a home
mortgage revenue bond program (the "Program" ) , and has
entered into a joint exercise of powers agreement, dated as
of January 1, 1983 (the "Agreement" ) , with the County of
Shasta in furtherance of the Program;
WHEREAS, the Agreement created the Redding-Shasta
Home Financing Authority (the "Authority" ) , and authorizes
the Authority to issue qualified mortgage bonds pursuant to
Section 52000 et seq. of the Code; and
WHEREAS, . the City desires to assign the Allocation
to the Authority in order to enable it to issue qualified
mortgage bonds to finance the Program;
NOW, THEREFORE, BE IT RESOLVED by the City Council
of the City of Redding, as follows:
1 . This City Council hereby finds and declares
that the above recitals are true and correct.
2 . Pursuant to Section 50193 of the Code, the
City hereby assigns to the Authority all of the Allocation.
3 . This City Council hereby authorizes the
appropriate officer of the City to execute any and all
documents and certificates which are necessary, in his
opinion, to evidence the City' s assignment of the Allocation
to the Authority.
CI\
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* - paled and adopted this 6th d•of June, 1983, by
the City Council of the City of Redding by the following vote:
Ayes: Demsher, Fulton, Kirkpatrick, Pugh, and Gard
Noes: None -
Absent: None
•
Abstain: None (334 XI,A cy,
/‘
BARBARA ALLEN GARD, Mayor '
(Seal)
• Attest:
ETHEL A. NICHOLS, City Clerk
•
Form Approved:
'4°‘°11(:(A‘aZ, •eP /e11/1 / _ .
• ANDALL A. HAYS, City Attorney
•
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