HomeMy WebLinkAboutReso. 1983 - 119 - Approving the county of yolo as a party to the agreement • 4111
RESOLUTION NO. .01/ 7
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF REDDING APPROVING THE COUNTY OF YOLO AS A
PARTY TO THE AGREEMENT AND ASSIGNING THE
CITY' S ALLOCATION OF QUALIFIED MORTGAGE BONDS
TO THE REDDING-SHASTA HOME FINANCING AUTHORITY
WHEREAS, pursuant to the provisions of Article 1 of
Chapter 5 of Division 7 of Title 1 of the Government Code of
the State of California, being Sections 6500-6517 thereof,
two or more public entities may enter into a joint exercise
of powers agreement to carry out the powers common to each
entity;
WHEREAS, the City of Redding (the "City" ) , the
County of Shasta and the County of Yolo are each empowered by
Chapters 1-5 of Part 5 of Division 31 of the Health and
Safety Code of the State of California (the "Act" ) to incur
indebtedness for the purpose of financing the construction,
acquisition and rehabilitation of homes as authorized by the
Act;
WHEREAS, the City, the County of Shasta and the
County of Yolo have each adopted an ordinance establishing a
home mortgage finance program pursuant to the Act;
WHEREAS, the City and the County of Shasta have
heretofore entered into a joint exercise of powers agreement,
dated as of January 1, 1983 (the "Agreement" ) , and the
Agreement created the Redding-Shasta Home Financing Authority
(the "Authority" ) ;
WHEREAS, the County of Yolo is desirous of becoming
a party to the Agreement, and the Board of Supervisors of the
County of Yolo has found and determined that it is in the
best interest of the County of Yolo that said County become a
party to the Agreement; and
WHEREAS, this City Council (the "Council" ) hereby
finds and determines that it is in the best interest of the
County of Yolo that the County of Yolo become a party to the
Agreement at this time;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL
OF THE CITY OF REDDING, as follows :
1 . The recitals herein contained are true and
correct, and this Council so finds .
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2 . Amendment No. 1 to the Agreement in
substantially the form presented to this meeting, and the
terms and conditions therein, are hereby approved, and the
proper officers of the City are hereby authorized and
directed to execute said Amendment No. 1 in order to include
the County of Yolo as a party to the Agreement. The City
Clerk is hereby directed to file a copy of said form of
Amendment No . 1 to the Agreement in the office of the City
Clerk.
3 . Pursuant to Section 50193 of the Health and
Safety Code of the State of California, the City hereby
assigns all of its allocation of qualified mortgage bonds
which it has received from the Mortgage Bond Allocation
Committee pursuant to Sections 50189 and 50191 of the Health
and Safety Code of the State of California to the Authority.
4. The proper officers of the City are hereby
authorized to take any and all actions and to execute any and
all documents which they, or any of them, deem necessary to
effectuate the purposes of this resolution.
5 . This resolution shall take effect immediately
upon its adoption.
PASSED AND ADOPTED THIS 29th day of June, 1983 , by
the following vote:
AYES: Council Members: Demsher, Fulton, Pugh, and Gard
NOES: Council Members: None
ABSENT: Council Members: Kirkpatrick
ABSTAIN: Council Members: None
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_.....,, , Le._.... oic lb A 0
Mayor
[ seal ]
ATTEST:
City Clerk
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