HomeMy WebLinkAbout85-114 - ResolutionsRESOLUTION NO. 85-114
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO
CUCAMONGA, CALIFORNIA, TRANSFERRING A PORTION OF THE ALLOCATION
OF MORTGAGE SUBSIDY BONDS IN AN AMOUNT NOT TO EXCEED
$6,000,000, TO THE COVINA RANCHO CUCAMONGA - CALEXICO -
DOWNEY HOUSING FINANCE AGENCY
WHEREAS, the City of Rancho Cucamonga (the "City") has received an
allocation from the Mortgage Bond Allocation Committee; and
WHEREAS, the City believes that the purposes of the City will be
better served by having the Redevelopment Agency of the City as part of a
Joint exercise of powers agency carry out the issuance of a portion of the
1985 Mortgage Subsidy Bond Allocation.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RANCHO CUCAMONGA
DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1: A portion of the City's 1985 allocation of Mortgage
Subsidy Bonds from the Mortgage Bond Allocation Committee is hereby assigned
to the Covina - Rancho Cueamonga - Calexico - Downey Housing Finance Agency.
SECTION 2: This transfer is for servicing Lewis Homes, a
participating developer, in the 1985 Bond Program. The Allocation transfer
will be equal to Lewis Homes' entitlement allocation as determined by the
City.
PASSED, APPROVED, and ADOPTED this 3rd day of April, 1985.
AYES: Wright, Buquet, Mikeis, Dahl
NOES: None
ABSENT: King
ATTEST:
D. Mikels, Mayor
~ Clerk
Beverly A. luthelet, City
I, BEVERLY A. AUTHELET, CITY CLERK of the City of Rancho Cucamonga,
California, do hereby certify that the foregoing Resolution was duly passed,
approved, and adopted by the City Council of the City of Rancho Cucamonga, at
a regular meeting of said City Council held on the 3rd day of April, 1985.
Executed this 4th day of April, 1985 at Rancho Cucamonga, California.