RES 94117 - Laserfiche WebLink

COOPERATIVE AGREEMENT BETWEEN THE COUNTY OF ALAMEDA AND THE CITY OF PLEASANTON THIS COOPERATIVE AGREEMENT (this "Agreement"), is made and entered into as of , 1994, by and between the County of Alameda, a political. subdivision of the Smt~ of California (the *County*), and the City of Pleasanton a political subdivision of the State of California (the *City*). WHEREAS, the CounW has determined to pwvide assistance in the financing of homes for persons in the lower end of the home punthasing spectrum in the County and the City with a program to issue mortgage credit eerdficatos and single family mortgage revenue bonds the (the *Program') pursuant to Pan 1 and Part 5 of Division 31 of the Health and Safety Code of the State of California (the "Act*); and WHEREAS, the County has established the Progn. m pursuant to the Act and has determined to cooperate with the County in the exereire of its powers under the Act for the purposes of the Program; NOW, THEREFORE, in consideration of the mutual covenants hercinafter provided, the parties hereto agree as follows: SECTION1. The County agrees to unde~ the Program and to issue mortgage credit certificates and single family mortgage revenue bonds thereunder pursuant to the AcL County agrees that issuance of single family mortgage revenue bonds with respect to property located within the geographic boundaries of the City will be only for those projects apprnved by the Planning Director of the City or his/her designee. a City hereby agrees to cooperate with the County in the exercise jointly or otherwise of their powers for the purpose of assisting in the financing of homes pursuant to the act by agreeing that the County shall exercise its powers under the Pwgram, all as more specifically set forth in the Act, with respect to propeW/located within the geographic boundaries of the City. In particular, and without limiting the foregoing, the City agrees, on the request of the County, either to apply or to authorize the County to apply on the behalf of the City, in accordance with Section 8869.85 of the Government Cede, for an allocation of the state ceiling to issue mortgage credit certificates dna single family mortgage revenue bonds and to transfer any such allocation received to the County under the terms. of Section 8869.85(d) of the Government Cede. ~?LSi]IQIL~ 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 percent the County from entering into one or more agreements with the other political subdivisions within the County, if deemed necessary and edvisable to do so by the County! ~ This Agreement may be amended by one or more supplemen~J agreements executed by the County and the City at any time, except that no such amendment or supplement shall be made which shall adversely affect the rights of the holders of the bends or citizens who purchase a home with assistance from the Program.