RES 94117 - Laserfiche WebLink

Resolution No. 94-117 Page 2 WHEREAS, Chapter 11.8 of Division 1 of Title 2 of the Government Code for the State of California (the "Government Code") governs the allocation in the State of California of the state coiling (as that term is defined in the Government Code) among governmental units having authority to issue mortgage eredR certificates; and WHEREAS, Seelion 8869.85 of the Government Code requires a local agency to file an application for a portion of the state ceiling with or upon the direction of the California Debt Lintit Allocation Committee (the "Committee") prior to issuing mortgage credit certificates; and WR'EREAS, the City has determined to apply or have the County apply on its behalf for a poxlion of the state ceiling and to assign to the County, pursuant to Section 8869.85(d) of the Government Code, the total amount, if any, of authority to issue mortgage credit coni~cotes allocated to the City by the Committee; and WHEREAS, at its meeting of October 18, 1994, the City Coanc'fl reviewed the report of the Director of Planning and Community Development (SR 94:346) regarding the MCC program and the draft cooperative agreement with the County of Alameda to authorize the application for a new allocation of MCC's; NOW, THEREFORE, 'IH/~, CII'Y COIJlqCIL OF THE CITY OF PLEASANTON ~'P-~OLVES AS FOLLOWS: Section 1: The City hereby adopts the Program for the purpose of providing assistanco in the financing of homes for persons in the lower end of the home purchasing speeu'um in the City with respect to all property located within the gcographic boundaries of the City. The City Manager or her designee is hereby authorized to work with the County in developing the Program. Section 2: The Cooperative Agreement between the County and each of the Participating Cities (the "Agreement"), a copy of which is ~.-~ohed hereW as Exhibit A, is hereby approved, end the City Manager and the City Attorney are hereby authorized and directed to execute and diver said Agreement, for and in the name and on behalf of the City. The City Manager, with the edvico end consent of the City Attorney, is authorized to approve any additions to or changes in the form of said Agreement which she, with the advico and consent of the City Attorney, deems necessary or advisable, her approval of such conditions or changes to be enneinsively evidenced by the execution by the City Manager of said Agreement as so added to or changed. Section 3: The City Manager, or her designee, is hereby authorized, on behalf of the City and in cooporetlon with the County, to submit one or more applications, and such