HomeMy WebLinkAboutCC Reso No 1984-45RESOLUTION N0. 84-45
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF LAKE ELSINORE ADOPTING A HOME
MORTGAGE FINANCE PROGRAM IN COOPERATION
WITH THE COUNTY OF RIVERSIDE
WHEREAS, there is a shortage in the County of Riverside (the "County")
and in the City of Lake Elsinore (the "City") of decent, safe and sanitary
housing, particularly of housing affordable by persons in the lower end of the
purchasing spectrum, and a consequent need to encourage the construction, pur-
chase and rehabilitation of homes affordable by such persons and otherwise to
increase the housing supply in the City and in the County for such persons; and
WHEREAS, the Board of Supervisors of the County has resolved to engage
in a home mortgage finance program (the "Program") pursuant to Part 5 of
Division 31 of the Health and Safety Code of the State of California (the "Act")
for persons and families within the income limits established by the Act and has
determined to issue revenue bonds pursuant to the Act to provide funds for the
Program; and
WHEREAS, this City Council finds and determines that it is in the best
interest of the City to adopt the Program and to consent to the implementation
of the Program by the County within the geographic boundaries of the City
pursuant to the Act;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Lake
Elsinore as follows:
SECTION 1. The City hereby adopts the Program for the purpose of
increasing the housing supply in the County and in the City and
consents to the implementation of the Program by the County with
respect to all property located within the geographical boundaries
of the City.
SECTION 2. The agreement, dated as of August 15, 1984, between the
County and the City (the "Cooperative Agreement"), in substantially
the form submitted to this meeting, is hereby approved; and the
proper officers of the City are hereby authorized and directed to
execute and deliver the same, for and in the name and on behalf of
the City, and to approve any additions to or changes in said form
thereof which they deem necessary or advisable, their approval of
such additions or changes to be conclusively evidenced by their
execution of the Cooperative Agreement as so added to or changed.
The proper officers of the City are further authorized to enter into
such additional agreements with the County, execute such other
documents and take such other actions as they may deem necessary or
appropriate to carry out the purpose and intent of the Cooperative
Agreement or to cooperate in the implementation of the Program.
SECTION 3. This Resolution shall take effect immediately upon its
adoption.
PASSED AND ADOPTED at a regular meeting of the City Council of the
City of Lake Elsinore this 14th day of August , 1984.
U~~~
Arta Valenzd ~ Mayor
ATTEST:
n .~~
Jo nn oneyl ", City Cler
SEAL)
-2-
STATE OF CALIFORNIA )
) ss.
COUNTY OF RIUERSIDE )
I, Jo Ann Money City Clerk of the City of Lake Elsinore,
DO HEREBY CERTIFY that the foregoing resolution was duly adopted by the
City Council of the City of Lake Elsinore at a regular meeting of said
Council on the 14th day of August , 1984, and
that it was so,adopted by the following vote:
AYES: COUNCILMEMBERS: KNIGHT, MATSON, STRIGOTTE, VERMILLION,
VALEN~UELA
NOES: COUNCILMEMBERS: NONE
ABSENT: COUNCILMEMBERS:NONE
~
ANN MONEY, CITY CLERK
Y OF LAKE ELSINORE
(SEAL)
STATE OF CALIFORNIA )
) ss.
COUNTY OF RIVERSIDE )
I Jo Ann Money, City Clerk of the City of Lake Elsinore,
DO HEREBY CERTIFY that the above and foregoing is a full, true and correct
copy of Resolution No. 84-45 , of said Council, and that the same
has not been amended or repealed.
DATED: August 15, 1984
~
0 ANN MONEY, CITY CLE K
C TY OF LAKE ELSINORE
(SEAL)