HomeMy WebLinkAboutReso 82-173 - 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 • •
RESOLUTION NO. K2-r7 3
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING,
CALIFORNIA, 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 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 of California 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 the total amount not to exceed $50 , 000 . 00
for purposes of lending deferred payment loans for housing rehabi-
litation, 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 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
A
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name of the Local Entity, said Standard Agreement and other
documents required to consummate this transaction.
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 18th day of October , 1982 , and
was duly adopted at said meeting by the following vote :
AYES : COUNCILMEN: Demsher, Fulton, Kirkpatrick, and Pugh
NOES : COUNCILMEN: . None ,
ABSENT: COUNCILMEN: Gard j�j_ J
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A'RGH C�PU ;'. MAYOR
��� Ci y b1 Redding
ATTEST:
CL2J. . A J,
ETHEL, A. NICHOLSS,, City Clerk
L��y _
FORM APPROVED: a
/,' / , / to
RA vDALL A. HAYS, City Attorney
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