HomeMy WebLinkAboutResolution - 1467 Ii
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1� -,ESOLUTJON oO 1 67
2I -A RESOLUTION OF THE CITY COU"1CIL ')F - 1E C:ry Cr
SRfJ JACINTr, CALIFORNIA. AJD�i:No H j)'IE aO rr C;E
31) FINANCE nDQr-RArl AND AUTHOPI7I'dr M `FFIrrPS TCI
I 1PLEMENT 1HE PRO„RI=.M.
t',e,e i=. a shortage in the Cir, of San Jacin o (the Citv')
5h n` new Dousing which is affordable by cersons on the lower end or the our-
6 chasing soecrum, anc a consequent need to encourage the construction of
homes affordable by _uchnersons and orherwise increase the housing
7 suooly in the City for <_uch per�nns; and
81 AHEPEAS, the City Council of the City intends to issue notes and
r-,nos uursuant to ?art 5 of Division . 1 of tha healEh and Safety "ode of �
the ztate of aiifornia the Act"), �o arovide "�nancing for the ac1 isition
9' and construction of housing in the City:
loll '10Y THEREFORE BE ;- PFSrU;E):
11, SECT IOPI 1. The City hereby estahlishes a home mortnaae finance
12� oronram (the °rogram"1 pursuant to the Act and hereby determines to issue
revenue bonds pursuant to said Act to provide funds for the Program.
131, SECTION 2. The City hereby finds and declares that the Prooram will
11 serve the r.blic purposes of incrpasiria the housing supply and of providing
141 firancinq for decent, safe andsanitary housing r
wnic'- is affordable y people
11 on the lovier end of the purchasing snectrum.
15 i,,
161 SECTION 3. The oroper o`icers of the C tv are hereby authorized
and directed to perform any acts and enter into and execute ery agreements
or other documents that they may deem r.ecessary or arrronriate to imnlen'ent
17 i the °rogram.
18 SECTION 4. The provisions of this reselut'on, being reccssary `or
19i the welfare of the C4ty and its inhabitants, _hall '�e lierall'! construe(
to effect its puroo es.
20 ITVED, PASSED ,"M A1OOPTED this 1Rth day cif �lanuary
21j at a regular meetinn D� the City Council by the `ollowinn dote:
AV-S: Councilmen Rose, Stevens, .iv�ne, Visser and "iarthaller
221 "IDES: 'lone
2311 ABSEdI : done
ABSTAI'I: None
24 gITEST:
'lai
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261 �yrgaeL` rncLcan.' City Clerk J f �ayor
ebu.y
27 Ij CERTIFICATE
28i Thy `crenDin, is certified __ he a true cony of a R solution duly
adopted by the said City Council of the City or San Jacinto on the date there- �
24 in set forth.
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34 IVROt1RET MrLEA^I. CT'r CLE-k:
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