HomeMy WebLinkAbout13-147 - Resolutions RESOLUTION NO. 13-147
A RESOLUTION OF THE COUNCIL OF THE CITY OF RANCHO
CUCAMONGA, CALIFORNIA,TERMINATING THAT AGREEMENT
DATED NOVEMBER 1, 1986 ENTITLED "JOINT POWERS
AGREEMENT TO CREATE THE RANCHO CUCAMONGA-
PALMDALE-PORTERVILLE-COLTON HOUSING FINANCE
AGENCY TO EXERCISE COMMON POWERS OF THE CITIES OF
RANCHO CUCAMONGA, PALMDALE, PORTERVILLE AND
COLTON TO FINANCE HOME MORTGAGES PURSUANT TO
PART 5 OF DIVISION 31 OF THE HEALTH AND SAFETY CODE
OF THE STATE OF CALIFORNIA" ("THE AGREEMENT"
HEREINAFTER).
A. Recitals.
(i) On November 1, 1986, the Cities of Rancho Cucamonga, Palmdale, Porterville
and Colton entered into the Agreement to facilitate publicly financing the provision of low interest
mortgage loans to income qualified people.
(ii) A financing pursuant to the Agreement did occur and no bonds, notes or other
evidences of indebtedness thereon and no other bonds, notes or other evidences of
indebtedness are outstanding against or concern this joint powers Agency.
(iii) It is this Council's desire and intention to terminate the Agreement on behalf of
the City of Rancho Cucamonga.
B. Resolution.
NOW, THEREFORE, the Council of the City of Rancho Cucamonga does hereby find,
determine and resolve as follows:
1. All of the facts stated in the Recitals, Part A, of this Resolution are true and
correct.
2. Pursuant to the provisions of paragraph 9 of the Agreement, this Council hereby
terminates this Agreement on behalf of the City of Rancho Cucamonga and requests that the
Councils of the three other parties to the Agreement forthwith take the same action.
Resolution No. 13-147 Page I of 2
PASSED, APPROVED, AND ADOPTED this 21"day of August 2013.
AYES: Alexander, Michael, Spagnolo, Steinorth, Williams
NOES: None
ABSENT: None
ABSTAINED: None
L. ennis Michael, Mayor
ATTEST:
—P— / /mit
Janic C. Reynolds, City �erk
1,JANICE C.REYNOLDS,CITY CLERK of the City of Rancho Cucamonga,Califomia,
do hereby certify that the foregoing Resolution was duly passed,approved and adopted by the City Council of
the City of Rancho Cucamonga,California, at a Regular Meeting of said City Council held on the 21"day of
August 2013.
Executed this 22nd day of August 2013, at Rancho Cucamonga, California.
, /— —24
Jani t.
Reynolds, City Clerk
Resolution No. 13-147 Page 2 of 2