HomeMy WebLinkAboutResolution No. 7668RESOLUTION NO. 7668
41 RESOLUTION APPROVING A HOME MORTGAGE FINANCE PROGRAM IN
COOPERATION WITH THE COUNTY OF LOS ANGELES AND AUTHORIZING
THE MAYOR AND CITY CLERK TO EXECUTE FOR AND ON BEHALF OF THE
CITY OF AZUSA A COOPERATIVE AGREEMENT BETWEEN THE COUNTY OF
LOS ANGELES AND THE CITY OF AZUSA
WHEREAS, there is a shortage in the County of Los
Angeles (the"County") and in the City of Azusa (the "City")
of decent, safe and sanitary housing, particularly of housing
affordable by persons in the lower end of the purchasing spec-
trum, 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 it 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 Azusa, as follows:
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 bound-
aries of the City.
2. The Cooperative Agreement between the County and
the City (the "Agreement"), a copy of which is attached hereto
as Exhibit A, 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 or changes in the form
of said Agreement which they deem necessary or advisable, their
approval of such additions or changes to be conclusively evidenc-
ed by the Mayor of said Agreement as so added to or changed.
LI
-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 coop-
erate in the implementation of the Program.
PASSED, APPROVED AND ADOPTED This 4th day of
March 1985, by the following vote:
AYES: COUNCILMEMBERS:
NOES: COUNCILMEMBERS:
ABSENT: COUNCILMEMBERS:
ATTEST:
MAYOR
CRUZ, COOK, CAMARENA, LATTA, MOSES
NONE
NONE
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C Y C K