HomeMy WebLinkAboutReso. 1981 - 091 - Authorizing 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 CaliforniaRESOLUTION NO.
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 CALIFORNIA.
WHEREAS, pursuant to Sections 50660-50670 of the Calif-
ornia Health and Safety Code, the State of California Department of
Housing and Community Development is authorized to provide funds
for the rehabilitation of housing in designated areas, and
WHEREAS, the City of Redding, as 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 City Council of
the.City of Redding approves the Standard Agreement with the State
to accept a commitment in the total amount not to exceed $50,000.00,
for purposes of lending deferred payment loans for housing rehabili-
tation, subject to the terms of said agreement and to the rules and
regulations governing the use of said funds.
BE IT FURTHER RESOLVED that the City of Redding shall
enter into appropriate documents with the State, and that the City
Manager is hereby authorized to execute said Standard Agreement on
behalf of the City of Redding, and other documents required to con -
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summate this transaction.
BE IT FURTHER RESOLVED that the Housing and Redevelopment
Administrator of the City of Redding is hereby authorized to execute
all documents required to make and record each individual loan under
this program to its participants.
I HEREBY CERTIFY that the foregoing Resolution was intro -
deiced and read at a regular,meeting.of'the City Council of the ��
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City of Redding on the 18th day of May , 1981, and was duly
adopted at said meeting by the following vote:
AYES: COUNCILMEN: Demsher, Fulton, Gard, Kirkpatrick, and Pugh
NOES: COUNCILMEN: None
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ABSENT: COUNCILMEN: None.
ATTEST:
ETHEL A. RICHTER, City Clerk
FORM A PROVED:
RANALL A. HAYS, C ty Attorney
a
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of -"the City of Redding