HomeMy WebLinkAboutResolution - 1587 i
RESOLUTION NO. 1587
2 A`RESOLUTION OF THE CITY COUNCIL 07 THE CITY OF
i
SAN JACINTO, CALIFORNIA, APPROVING THE CITY
3 AGREEMENT IN CONNECTION t1ITH THE EL 11ONTE-MJNEY-
SAN JACINTO HOUSING FINANCE AGENCY SINGLE FAMILY
RESIDENTIAL [IORTGAGE REVENUE BONDS, ISSUE OF 198E
5 'WHEREAS, the City Council has previously approved a Joint Exercise of
Powers Aareement among the Cities of E1 'M,cnte, Downey and San Jacinto for the
fi purpose of issuing single family mortgage revenue bonds; and
WHEREAS, the City desires to reserve a portion of the funds available for :
origination of loans for the purpose of r,roviding financing for existing res,
3 dences or newly constructed residences in the City of San Jacinto; and
9I1 OHEREAS, the City Aareement attached hereto as Exhibit "A" (the "City
Agreement ) sets forth the terms and conditions uocn which funds will be made
10 � availahle to the City for the above purposes:
11 HOld, THEREFORE, the City Council of the City of San Jacinto does hereby
resolve as follows:
12
Section 1 . The City Agreement substantial],, in the form attached hereto
13 and the expenditure of funds *or the payment ofCity Fee as provided therein
is hereby approved.
1,1
Section 2. The I'ayor and City Clerk are hereby authorized and directed
151 to execute the City Agreement with such changes, additions or deletions as may
he necessary in the opinion of the City Planager for the prompt delivery of the ,
16 bonds•
17, Section 3. This Resolution shall take effect immediately upon cassaae.
18 � PAS
tpSED, APPROVED AND ADOPTED this 16th :day of April 1985, by the follor-
ina voote.
q ",YES: r',,incilmen Vlsscr, C,c"rPr Rose, S�eii and Stuart-
NOES: None
21IABSENT: None
29''
ATTEST:
23
241 Deputy G�ty Clerk
25 CERTIFICATE
261� The foregoing is certified to be a true copy of Resolution No. 1587 duly
271adopted by said Citv Council of the City of San Jacinto on the date set forth
1 therein.
f � I j/l f/p'
29 D ty City lerk
301
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