1988-13 RESOLUTION NO . 88-13
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF GRAND TERRACE APPROVING A HOME
MORTGAGE FINANCE PROGRAM IN COOPERATION
WITH THE COUNTY OF SAN BERNARDINO AND
AUTHORIZING THE MAYOR AND CITY CLERK TO
EXECUTE FOR AND ON BEHALF OF THE CITY A
COOPERATIVE AGREEMENT BETWEEN THE COUNTY
OF SAN BERNARDINO AND THE CITY
WHEREAS, there is a shortage in the County of San
Bernardino ( the "County" ) and in the City of Grand Terrace
( 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 of homes affordable by such
persons and otherwise to increase the housing supply in the
County and in the City for such persons ; and
WHEREAS , the Board of Supervisors of the County
has adopted an ordinance declaring its intent to engage in a
home mortgage finance program ( the "Program" ) pursuant to
Chapters 1-5 of Part 5 of Division 31 of the Health and
Safety Code of the State of California ( the " Act" ) and to
issue bonds pursuant to the Act to provide funds for the
Program; and
WHEREAS , the Council finds and determines that it
is in the best interest of the City to adopt the Program and
to consent to the operation of the Program by the County
within the geographic boundaries of the City pursuant to the
Act.
NOW , THEREFORE , BE IT RESOLVED , by the Council of
the City of Grand Terrace , as follows :
SECTION 1 . Each of the foregoing recitals is true
and correct .
SECTION 2 . 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 operation of the Program
by the County with respect to all property located within
the geographical boundaries of the City .
SECTION 3. The Cooperative Agreement between the
. County and the City ( the "Agreement" ) , in substantially the
form attached hereto , is hereby approved , and the Mayor and
City Clerk are hereby authorized and directed to execute and
deliver said Agreement, for and in the name and on behalf of
the City . The Mayor , with the advice and consent of the
City Attorney , is authorized . to approve any additions to
RESOLUTION NO . 88-13
PAGE 2
or changes in the form of said Agreement which they deem
necessary or advisable , their approval of such additions or
changes to be conclusively evidenced by execution by the
Mayor of said Agreement as so added to or changed . The
Mayor , with the advice and consent .of the City Attorney , is
further authorized to enter into such additional agreements
with the County., execute such other documents or take such
other actions as they may deem necessary or appropriate to
carry out the purpose and intent of the Agreement or to
cooperate in the imple-mentation of the Program.
SECTION 4. This Resolution shall take effect from
and after its adoption .
ADOPTED this llth day of August, 1988 .
ATTEST:
l*fGr-and
erako f the City Ma r of t o Ci t of
Terrace and of Gr nd Terrace and of the
lthe . City Council thereof. City Council thereof.
I , JUANITA J. BROWN , Deputy City Clerk of the City
of Grand Terrace , do hereby certify that the foregoing
Resolution was introduced and adopted at a regular meeting
of the City Council of the City of Grand Terrace held on the
llth day of August, 1988, by the following vote :
AYES : Councilmembers Pfennighausen, Grant ,
Evans , Shirley ; Mayor Matteson
NOES : None
ABSENT : None
ABSTAIN : None
uty Cit C e r k
Approved as to form :
City Attorney
COOPERATIVE AGREEMENT BETWEEN THE COUNTY
OF SAN .BERNARDINO AND THE CITY OF GRAND TERRACE
THIS COOPERATIVE AGREEMENT (this "Agreement" ) , made
and entered into as of July 1, 1988 by and between the County
of San Bernardino, a political subdivision of the State of
California (the "County" ) , and the City of Grand Terrace, a
political subdivision of the State of California (the "City" ) , -
W I T N E S S E T H:
WHEREAS, the County has determined to engage in a
home mortgage finance program pursuant to Chapters 1-5 of
Part 5 of Division 31 of the Health and Safety Code of .tile
State of California (the "Act" ) to make or acquire, directly
or indirectly, loans to finance the construction or
acquisition of homes in the County, all as provided for in the
Act (the "Program" ) ; and
WHEREAS, the County, pursuant to the Act, has
adopted the Program by Ordinance No. 2496 and has determined
to cooperate with the City pursuant to the Act in the exercise
of its powers under the Act for purposes of the Program;
r
NOW, THEREFORE, in consideration of the mutual
covenants hereinafter provided, the parties hereto agree as
follows:
SECTION 1. The terms used in this Agreement shall,
for all purposes of this Agreement, unless otherwise defined
herein, have the meanings assigned to such terms in the Act.
SECTION 2 . The County agrees to undertake the
Program, including the issuance by it of revenue bonds
therefor pursuant to the Act as soon as practicable.
SEE'CT ION-%-; . - Tile C 'may hereby agi aes t10 cooperate with
the County iri the exercise jointly or otherwise of their
powers for the purpose of financing home mortgages pursuant to,
the Act by agreeing that the County shall exercise its powers
to make or acquire home mortgages under the Program, all as
more specifically set forth in the Act, with respect to
property located within the geographic boundaries of the City.
SECTION 4. The City agrees to undertake such
further proceedings or actions as may be necessary in order to
carry out the terms and the intent of this Agreement. Nothing
in this Agreement shall prevent the County from entering into
one or more agreements with other political subdivisions
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within the County, if deemed necessary and advisable to do so
by the County.
SECTION 5. This Agreement may be amended by one or
more supplemental agreements executed by the County -and the
City at any time, except that no such amendment or supplement
shall be made which shall adversely affect the rights of the
holders of any bonds issued by the County pursuant to the Act
in connection with the Program.
IN WITNESS WHEREOF, the parties hereto have caused
this Agreement to be executed and attested by their proper
officers thereunto duly authorized, and their- official seals
to be hereto affixed, all as of the day and year first above
written.
COUNTY OF SAN BERNARDINO CITY OF GRAND TERRACE
By / By yyt
Chairman, Board of
Supervisors
ATTEST: ATTEST:
By 4� cP / By --�U�! �Zd r✓
Deputy Clerk, Board��
of Supervisors.07r.�p
APPROVED 'A$ -T0 FO'I1M,e ' APPROVED AS TO FORM:
COUNTY COUNSEL-, ,
BY o
Deputy City Atto n y
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