Loading...
HomeMy WebLinkAbout82-82 - ResolutionsRESOLUTION NO. 82-82 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO CUCAMONGA, ADOPTING A HOUSING FINANCE REVENUE BOND PROGRAM IN COOPERATION WITH THE COUNTY OF SAN BERNARDINO AND AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE FOR AND ON BEHALF OF THE CITY OF RANCHO CUCAMONGA A COOPERATIVE AGREEMENT BETWEEN THE COUNTY OF SAN BERNARDINO AND THE CITY OF RANCHO CUCAMONGA WHEREAS, there is a shortage in the County of San Bernardino (the "County") and in the City of RANCHO CUCAMONGA (the "City") of decent, safe and sanitary housing, particularly of housing affordable by persons in the lower end of the purchasing spectrum, 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 housing finance revenue bond program (the "Program") pursuant to Part 5 of Division 31 of the Health and Safety Code of the State of California (the "Act") and to issue bonds pursuant to the Act to provide funds for the Program; and WHEREAS, this 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 RANCHO CUCAMONGA as follows: 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 boundaries of the City. The cooperative agreement, dated May 6, 1982, 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 evidenced by the execution by the Mayor of said Agreement as so added to or changed. 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 cooperate in the implementation of the Program. Resolution No. 82-82 Page 2 PASSED, APPROVED, and ADOPTED this 5th day of May, 1982. AYES: Dahl, Buquet, Schlosser, Frost, Mikels NOES: None ABSENT: None ATTEST: ~se~an,~City~le r k EXHIBIT "A" COOPERATIVE AGREEMENT BETWEEN THE COUNTY OF SAN BERNARDINO AND THE CITY OF RANCHO CUCAMONGA THIS COOPERATIVE AGREEMENT (the "Agreement), made and entered into as of May 6, 1982 by and between the County of San Bernardino, a political subdivision of the State of California and the City of Rancho Cucamonga, a political subdivision of the State of California (the "City"). WI TNES SETH: WHEREAS, the County has determined to engage in a housing finance revenue bond 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") to make or purchase, directly or indirectly, loans to finance the construction or acquisition of homes in the County, all as provided for in the Act (the "Program"); and WHEREAS, the County, pursuant to the Act, has adopted the Program by Ordinance No. 2496 and has determined to cooperate with the City pursuant to the Act in the exercise of its powers under the Act for purposes of the Program; NOW, THEREFORE, in consideration of the mutual covenants hereinafter provided, the parties hereto agree as follows: Section 1. The terms used in this Agreement shall, for all purposes of this Agreement, unless otherwise defined herein, have the meanings assigned to such terms in the Act. Section 2. The County agrees to undertake the Program and to issue its Residential Mortgage Revenue Bonds Issue of 1982 (the "Bonds"), therefore pursuant to the Act as soon as practicable. Section 3. The City hereby agrees to cooperate with the County in the exercise jointly or otherwise of their powers for the purpose of financing home mortgages pursuant to the Act from the proceeds of the Bonds by agreeing that the County shall exercise such powers to make or purchase home mortgages under the Program, all as more specifically set forth in the Act, with respect to property located within the geographic boundaries of the City. Resolution No. 82-82 Page 3 Section 4. The City agrees to undertake such further proceedings or actions as may be necessary in order to carry out the terms and the intent of this Agreement. Section 5. The City agrees to undertake such further proceedings or actions as may be necessary in order to carry out the terms and the intent of this Agreement. Nothing in this Agreement shall prevent the County from entering into one or more agreements with other political subdivisions within the County, if deemed necessary and advisable to do so by the County. Section 6. This Agreement may be amended by one or more supplemental agreements executed by the County and the City at any time, except that no such amendment of supplement shall be made which shall adversely affect the rights of the holders of any bonds issued by the County pursuant to the Act in connection with the program. IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed and attested by their proper officers thereunto duly authorized, and their official seals to be hereto affixed, all as of the day first above written. CITY OF RANCHO CUCAMONGA COUNTY OF SAN BERNARDINO BY: ',/~/,~~"'c~ BY: ,.~ Mayor Chairman, Board of ' Supervisors City Clerk Chairman, Board of Supervisors APPROVED AS TO FORM: APPROVED AS TO FORM: City Attorney (SEAL) County Counsel (SEAL)