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CITY COUNCIL OF THE CITY OF PLEASANTON <br /> ALAMEDA COUNTY, CALIFORNIA <br /> RESOLUTION NO. 82-69 <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />PLEASANTON APPROVING AND AUTHORIZING THE EXECUTION OF <br /> A JOINT EXERCISE OF POWERS AGREEMENT TO CREATE THE <br /> PLEASANTON-NEWARK HOME FINANCING AUTHORITY AND <br /> APPOINTING TWO MEMBERS TO THE GOVERNING BOARD OF <br /> SUCH AUTHORITY <br /> <br /> WHEREAS, pursuant to the provisions of Article 1 of <br />Chapter 5 of Division 7 of Title 1 of the Government Code of <br />the State of California, being sections 6500-6516 thereof, <br />two public entities may enter into a joint exercise of powers <br />agreement to carry out the powers common to each entity; and <br /> <br /> WHEREAS, the City of Pleasanton ("Pleasanton") and <br />the City of Newark ("Newark") are each empowered by Chapters <br />1-5 of Part 5 of Division 31 of the Health and Safety Code of <br />the State of California (the "Act") to incur indebtedness for <br />the purpose of financing the construction, acquisition and <br />rehabilitation of homes for the benefit of the residents <br />thereof; and <br /> <br /> WHEREAS, Pleasanton and Newark each has adopted or <br />will adopt an ordinance establishing a home mortgage finance <br />program pursuant to the Act; and <br /> <br /> WHEREAS, this City Council has found and <br />determined, and hereby finds and determines, that it is in <br />the best interests of Pleasanton that Pleasanton enter into a <br />joint exercise of powers agreement with Pleasanton creating <br />the Pleasanton-Newark Home Financing Authority (the <br />"Authority") to exercise their respective powers pursuant to <br />the Act and for the Authority to proceed pursuant to the Act <br />for the purpose of financing home mortgages with respect to <br />property within the boundaries of Pleasanton and Newark. <br /> <br /> NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF <br />THE CITY OF PLEASANTON: <br /> <br /> 1. The recitals herein contained are true and <br />correct, and this City Council so finds. <br /> <br /> 2. The form of agreement, dated for convenience <br />as of February 1, 1982, entitled "Joint Exercise of Powers <br />Agreement Between the City of Pleasanton and the City of <br />Newark Creating the Pleasanton-Newark Home Financing <br />Authority," submitted to this City Council, and the terms and <br /> <br /> <br />