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CITY COUNCIL OF THE CITY OF PLEASANTON <br /> <br />AL;~3EDA COUNTY, CALIFORNIA <br /> <br />P~SOLUTION NO. 82-22~ <br /> <br />APPROVAL OF ASSIG~R~!T OF F~IDS TO PLEASANTO%I- <br />NEWAP~ tt0~ FINANCING AUTHORITY <br /> <br />WHEPd2AS , <br /> <br />the State of California has allocated to the City <br />of Pleasanton the ability to issue $20 million in <br />mortgage revenue bonds; and <br /> <br />V~IEREAS, <br /> <br />the City of Pleasanton was unable to establish a <br />feasible mortgage revenue bond issue on its own <br />and has subsequently joined with the City of llewark <br />to form the Pleasanton-Newark Home Financing <br />Authority to jointly issue bonds under the Joint <br />Powers Agreement; and <br /> <br />WtIEREAS, <br /> <br />in order for the Joint Powers Agency to sell the <br />bonds, it is necessary for the City of Pleasanton <br />to assign the $20 million allocation to the <br />Pleasanton-Newark Home Financing Authority; <br /> <br />NOW, TtlEREFOP~, THE CITY COI/NCIL OF THE CITY OF PLEASANTON <br />RESOLVES AS FOLLOWS: <br /> <br />Section 1: The City of Pleasanton is authorized to assign <br /> its allocation of $20 million in mortgage revenue <br /> bonds to the Pleasanton-Newark tlome Financing <br /> Authority. <br /> <br />Section 2: This resolution shall become effective inurediately <br /> upon its passage and adoption. <br /> <br />TttIS RESOLUTION ADOPTED J~IE 22, 1982 BY THE FOLLOWING VOTE: <br /> <br />AYES: Councilmembers - Brandes, Mercer, Wood and <br /> Vice Mayor Mohr <br />NOES: None <br />ABSENT: Mayor Butler ~~~CE~~OYO <br />ABSTAIN: None <br /> <br />ATTEST: <br /> <br /> ty Cler <br />By Doris George, Deputy City Clerk <br /> <br />APPROVED AS TO FOP~: <br /> <br />Brian W. Swift,/Acting City Attorney <br /> <br /> <br />