HomeMy WebLinkAboutRES NO 71-94RESOLUTION NO. ~' ]. - 9 4
A RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF BAKERSFIELD, CALIFORNIA,
AUTHORIZING PARTICIPATION IN A HOME
MORTGAGE FINANCING PROGRAM IN
COOPERATION WITH THE HOUSING
AUTHORITY OF THE COUNTY OF KERN
WHEREAS, there is a shortage in the County of Kern (the "County") and in the City
of Bakersfield (the "City") of decent, safe and sanitary housing, particularly of housing
affordable by persons in the lower end of the purchasing spectrum and a consequent need
to encourage the construction of homes affordable by such persons and otherwise to
increase the housing supply in the County and in the City for such persons:
WHEREAS, the Board of Commissioners of the Housing Authority of the County of
Kern (the "Housing Authority") has heretofore declared its intent to engage in a home
mortgage finance program (the "Program") pursuant to Chapter 1 (commencing with
Section 34200) of Part 2 of Division 24 of the Health and Safety Code of the State of
California (the "Act");
WHEREAS, the City desires to approve the Program and consent to the operation
of the Program by the Housing Authority within the geographic boundaries of the City
pursuant to the Act:
WHEREAS, the City and the Housing Authority have previously entered into a
"Cooperation Agreement" dated March 5, 1973, (the "Cooperation Agreement")
authorizing the Housing Authority to undertake certain housing programs within the
geographic boundaries of the City and the City now desires to execute a Supplemental
Cooperation Agreement with the Housing Authority (the "Supplement Cooperation
Agreement" ) to supplement the Cooperation Agreement for the purpose of approving the
operation of the Program in the City; and
WHEREAS, the Housing Authority intends to issue its Housing Authority of the
County of Kern (Mortgage Backed Securities Program) Series 1994 A Bonds (the "1994
Bonds") pursuant to the Act to provide funds for the Program;
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of
Bakersfield, as follows:
Section 1. Participation in Program: Supplemental Cooperation Agreement. The
City Council hereby authorizes the City's participation in the Program for the purpose of
increasing the housing supply in the County and in the City and consents to the operation
of the Program by the Housing Authority within the geographical boundaries of the City.
The form of the Supplemental Cooperation Agreement presented to this meeting is hereby
approved and the Mayor is hereby authorized and directed to execute and the City Clerk
is authorized and directed to attest said Supplemental Cooperation Agreement in
substantially the form presented with such changes thereto as may be approved by the
officers executing the same, such approval to be conclusively evidenced by the execution
thereof.
Semion 2. Official Actions. The officers and employees of the City are hereby
authorized and directed, jointly and severally, to do any and all things necessary or
advisable in order to effectuate the purposes of this resolution or the issuance of the 1994
Bonds by the Housing Authority, and any and all actions previously taken by such officers
and employees in connection with the matters herein and hereby ratified and approved.
I HEREBY CERTIFY that the foregoing Resolution was passed
and adopted by the Council of the~%of Bakersfield at a regular
meeting thereof held on MAY , by the
following vote:
AYES: COUNCILMEMBERS McDERMOTF, EO~W,/i,~, De140NO, SMITH BRUNNI, ROWLE$, SALVAGGIO
NOES: COUNC LMEMBERS ~ OW%
ABSTAIN: COUNGILMEMBER~ v%/~ ~
A~SENT: COUNCILMEMBER~ K'~ O~ ~-~
CI and Ex Officio Clerk of the
Council of the City of Bakersfield
APPROVED MAY 1 8 ~
MAYOR of the City of Bakersfield
APPROVED as to form:
JUDY SKOUSEN, ACTING CITY A'~-iORNEY
City of Bakersfield