1980-39 RESOLUTION NO . 80-39
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
GRAND TERRACE, CALIFORNIA, ADOPTING A HOME MORT-
GAGE FINANCE PROGRAM IN COOPERATION WITH THE
COUNTY OF SAN BERNARDINO
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 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 of San Bernard-ino...
has determined to engage in a home mortgage finance program (the "P:rogr`ah�I"=)
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 income1 imits
established by the Act, and has determined to issue revenue bonds N rsuanz
to the Act to provide funds for the Program; and Y
WHEREAS, the County
proposes to adopt the program by ordTna:n.ce-..: -' .
for the purpose of increasing the housing supply in the County; and,' 1 ` _
WHEREAS, the Council of the City 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 of San Bernardino within the geographic
boundaries of the City pursuant to the Act:
NOW, THEREFORE BE IT RESOVED by the City Council of the City of
Grand Terrace 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 operation of the Program by the County with respect to all property
located within the geographical boundaries of the City.
Section 2. The cooperative Agreement, dated as of October 16, 1980,
between the County and the City (the "Agreement") , in substantially the form
submitted to this meeting, is hereby approved, and the proper officers for
the City are hereby authorized and directed to execute and deliver said
Agreement, for and in the name and on behalf of the City, and to approve any
additions to or changes in the form of said Agreement submitted to this
meeting which they deem necessary or advisable, their approval of such
additions or changes to be conclusively evidenced by their execution of said
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 or take such other actions as they may deem
necessary or appropriate to carry out the purpose and intent of the Agree-
ment or to cooperate in the implementation of the Program.
Section 3. The City hereby agrees not to engage in any competing
home mortgage finance program under the Act until at least 90% of the home
mortgages to be financed by the County under the Program with the proceeds
of such series of revenue bonds have been made or acquired.
Section 4. This Resolution shall take effect from and after
its adoption.
ADOPTED this 16th day of October, 1980.
Pro Te pore
Mayor of the City of Grand Terrac
and of the City Council thereof.
)ATTEST:
'`r.ity"C er-k of the *Ciyof Grand
- -Terr-acc_and of the City Council
bh-ereof.
Approved as to form-
City Attorney
-2-
STATE OF CALIFORNIA
COUNTY OF SAN BERNARDINO ) ss.
CITY OF GRAND TERRACE )
I, MYRNA LINDAHL, City Clerk of the City of Grand Terrace,
DO HEREBY CERTIFY that the foregoing Resolution was duly adopted
by the City Council of said City at a regular meeting of the City
Council held on the 16th day of October 19_Ba, and
that it was so adopted by the following vote:
AYES: Councilmen Grant, Petta, Rigley; Mayor Tillinghast.
NOES: None
ABSENT: None
City CXbrk of the City of Grand
Terrace and of the City Council -
Thereof.
(SEAL)
STATE OF CALIFORNIA )
COUNTY OF SAN BERNARDINO ) ss.
CITY OF GRAND TERRACE )
. I , MYRNA LINDAHL, City Clerk of the City of Grand Terrace,
DO HEREBY CERTIFY that the above and foregoing is a full , true and
correct copy of Resolution No: 80-39 of said City Council , and
the same has not been amended or repealed.
DATED: October 16, 1980
1. ----- �-�-.
F �
City. Verk of the City" of Grand
Terrace and of the City Counci--i-
thereof.
(SEAL)