HomeMy WebLinkAboutResolution No. 68270 0
RESOLUTION NO. 6827
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF AZUSA APPROVING A CERTAIN AGREE-
MENT BETWEEN THE CITY OF AZUSA AND
CROCKER NATIONAL BANK.
WHEREAS, under the provisions of the Housing
and Community Development Act of 1974 enacted by Congress,
the City has applied through the County of Los Angeles
for funds to implement a program providing low interest
loans to City approved applicants for the purpose of
housing rehabilitation and property improvement; and
WHEREAS, the Department of Housing and Urban
Development has approved the City's application which
will provide funds under the Act to the City; and
WHEREAS, Crocker National Bank has proposed to
make low interest loans to City approved applicants in
cooperation with the City based upon interest,subsidies,
and limited loan guarantees being provided by the City.
The City Council of the City of Azusa does
resolve as follows:
SECTION 1. That certain agreement between the
City of Azusa and Crocker National Bank, a national bank-
ing association, providing for low interest loans to be
made by Crocker National Bank to City approved applicants
and providing for interest, subsidy, and limited guarantees
of said loans by the City is hereby approved and the Mayor
and City Clerk are.authorized to execute the same on behalf
of the City.
SECTION 2. The City Clerk shall certify to the
adoption of this Resolution.
ADOPTED and APPROVED this 6th day of August I
1979.
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) SS.
CITY OF AZUSA )
I,CONSTANCE LARA, Deputy City Clerk, of the City of Azusa
do hereby certify that the foregoing Resolution No. 6827
was regularly adopted at a regular meeting of the City Council
on the 6th day of August 1979, by the following vote,
to wit:
AYES: Councilmen: Decker, Fry, Cruz, Moses, Solem
NOES: Councilmen: None
ABSENT: Councilmen: None
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