HomeMy WebLinkAboutCC RES 88-31lO
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RESOLUTION NO. 88-31
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
TUSTIN, ADOPTING. A HOME MORTGAGE FINANCE PROGRAM
IN COOPERATION WITH THE COUNTY OF ORANGE.
WHEREAS, there is a shortage in the County of Orange (the "County")
and in the City of Tustin (the "City") of decent, safe and sani%ar¥
housing, particularly of housing affordable by persons in the lower end of
~he purchasing spectrum, and a consequent need to encourage ~he
construction, purchase and rehabilitation of homes affordable by such
persons and otherwise to increase the housing suply in the City and in ~he
Coun%y for such persons; and
WHEREAS, the Board of Supervisors of the County has resolved to
engage in a home mortgage finance program (the "Program") pursuant ~o the
Zenovich-Moscone-Chacon Housing and Home Financing Ac~, Part 5 of Division
31 of the Health and Safe~y Code of the S~ate of California, Sections
50,000 et.seq. (the "Act") for persons and families within the' income
limi%s established by the Ac% and has de%ermined to issue revenue bonds
pursuant to the Act to provide funds for the Program; and
WHEREAS, this City Council finds and determines that it is in the
best i nteres~ of the Ci%y to adopt the Program and to consent to the
implementation of the Program by the County within the geographic
boundaries of ~he City pursuant to the Act;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Tustin as follows'
SECTION 1. The City hereby adopts the Program for the purpose of
increaSi~"~ the housing supply in the County and in the City and consents to
the implementation of the Program by the County with respect to all
property located Within the geographic boundaries of the City pursuant to
the Act.
SECTION 2. The agreement, dated as of .March 21~_1988 , between the
County'~ and the City (the "Cooperative Agreement"), ~n substantially the
form submitted to this meeting, is hereby approved; and the proper officers
of the City are hereby authorized and directed to execute .and deliver the
same, for and in' the name and on behalf of the City, and to approve any
additions to or changes in said form thereof which they deem necessary to
be conclusively evidenced by their execution of the Cooperative Agreement
as so added to or changed. The proper officers of the City are' further
authorized to enter into such additional agreements wi th the County,
execute such other documents and take such other actions as they may deem
necessary or appropriate to carry out the purpose and intent of the
Cooperative Agreement or to cooperate in the implementation of the Program.
Resolution No. 88-31
Page two
SECTION 3.
adoption.
This Resolution shall
take effect immediately upon its
PASSED AND ADOPTED at a regular meeting of the Tustin City Council, held on
the 21st day of March , 1988.
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~o'nal d B. Hoe%terey, (
Mayor
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STATE OF CALIFORNIA )
COUNTY OF ORANGE ) §
CITY OF TUSTIN )
MARY E. WYNN, City Clerk and ex-officio Clerk of the City Council of the City of
Tustin, California, does hereby certify that the whole number of the members of
the City Council of the City of Tustin is five; that the above and foregoing
Resolution No. 88-31 was duly and regularly introduced, passed and adopted at a
regular meeting "6f"the City Council held on the 21st day of M__a. rch_,.~!988, by the
following vote'
AYES ·
NOES ·
ABSENT-
COUNC ILPERSONS'
COUNCILPERSONS'
COUNCILPERSONS°
Edgar, Hoesterey, Kelly, Kennedy, Prescott
None
None
MARY E. WY~i~-,~ City[~Cl'~'rk~'
City of Tu~ci n, Ca¥i forni a