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CITY COUNCIL OF THE CITY OF PLEASANTON <br /> <br /> ALAMEDA COUNTY, CALIFORNIA <br /> <br /> RESOLUTION NO. 85-589 <br /> <br /> RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PLEASANTON <br /> AUTHORIZING THE PUBLICATION OF A POLICY REPORT UNDER <br /> SECTION 103A REGARDING A STATEMENT OF THE POLICIES OF <br /> THE CITY OF PLEASANTON WITH RESPECT TO HOUSING, <br /> DEVELOPMENT AND LOW-INCOME HOUSING ASSISTANCE TO BE <br /> FOLLOWED IN ISSUING QUALIFIED MORTGAGE BONDS AND <br /> MORTGAGE CREDIT CERTIFICATES; AN ASSESSMENT OF THE <br /> COMPLIANCE OF THE CITY OF PLEASANTON WITH STATEMENTS <br /> MADE WITH RESPECT TO THE ABOVE-STATED POLICIES CONTAINED <br /> IN THE POLICY REPORT PREVIOUSLY MADE BY THE CITY OF <br /> PLEASANTON; AND AN ASSESSMENT OF THE COMPLIANCE OF THE <br /> CITY OF PLEASANTON WITH THE INTENT OF CONGRESS THAT SUCH <br /> BONDS AND CERTIFICATES BE ISSUED TO THE GREATEST EXTENT <br /> FEASIBLE TO ASSIST LOWER INCOME FAMILIES TO AFFORD HOME <br /> OWNERSHIP BEFORE ASSISTING HIGHER INCOME FAMILIES. <br /> <br />WHEREAS, the City of Pleasanton (the "City") is authorized under <br /> Chapters 1-5 of Part 5 of Division 31 of the Health and <br /> Safety Code of the State of California (the "Law") to <br /> issue revenue bonds for the purpose of providing home <br /> mortgages to low- or moderate-income families; and <br /> <br />WHEREAS, pursuant to Section 103A(j) of the Internal Revenue ode <br /> of 1954, as amended (the "Code"), prior to the issuance <br /> of its revenue bonds, the City Council of the City must <br /> publish (after a public hearing following reasonable <br /> public notice) a Policy Report Under Section 103A <br /> including a statement of the policies of the City with <br /> respect to housing, development, and low-income housing <br /> assistance to be followed in issuing qualified mortgage <br /> bonds and mortgage credit certificates; an assessment of <br /> the compliance of the City with statements made with <br /> respect to the above-stated policies in the City's <br /> previous Policy Report; and an assessment of the <br /> compliance of the City with the intent of Congress that <br /> such bonds and certificates be issued to the greatest <br /> extent feasible to assist lower income families to <br /> afford home ownership before assisting higher income <br /> families (the "Policy Report"); and <br /> <br /> <br />