HomeMy WebLinkAboutResolution No. 4248 RESOLUTION NO. 4248
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DOWNEY,
CALIFORNIA, APPROVING JOINT POWERS AGREEMENT BY AND
BETWEEN THE CITY OF DOWNEY AND THE HOUSING AUTHORITY
OF THE COUNTY OF KERN FOR THE PURPOSE OF
FINANCING HOME MORTGAGES
WHEREAS, the CITY OF DOWNEY, CALIFORNIA (the "City "), and the
HOUSING AUTHORITY OF THE COUNTY OF KERN (the "Authority "), pursuant and
subject to the provisions of Part 5 Division 31 of the Health and Safety
Code of the State of California (the "Act ") and the provisions of Part 2
of Division 24 of such Health and Safety Code (the "Law "), are each
authorized and'empowered to provide, through lending institutions, home
mortgage loans to qualified persons and households to finance the acqui-
sition of homes and to issue revenue bonds to provide the funds therefor;
and,
WHEREAS, the Act and the Law provide that such powers may be
exercised by an agency created by a joint powers agreement under Article 1
(commencing with Section 6500) of Chapter 5 of Division 7 of Title 1 of
the Government Code of the State of California, entered into by cities and
counties for the express purpose of the joint exercise of powers common to
the contracting parties; and,
WHEREAS, such a Joint Powers Agreement has been proposed and
submitted to accomplish the formation of such agency.
NOW, THEREFORE, IT IS HEREBY RESOLVED AS FOLLOWS:
SECTION 1. That the above recitals are all true and correct.
SECTION 2. That the City Council of the City of Downey make and
enter into a Joint Powers Agreement to create the HOUSING AUTHORITY OF THE
COUNTY OF KERN - CITY OF DOWNEY HOUSING FINANCE AGENCY (the "Agency ") to
exercise powers common to the City and the Authority, to finance home
mortgages pursuant to the Act and the Law; such Joint Powers Agreement to
be in the form attached hereto as Exhibit "A ", and by this reference incor-
porated herein and presented to this City Council.
SECTION 3. That Councilman Bob Davila and Councilman
Theodore H. Jackman are hereby appointed by this City Council to serve on
the Board of Directors of the Agency with authorized powers to carry out the
purposes of the Agency as set forth in the Act, the Law and the Joint Powers
Agreement.
SECTION 4. That the Mayor is hereby authorized to execute such
Joint Powers Agreement on behalf of the City, and the City Clerk of said
City is authorized to attest the Mayor's signature thereto and affix thereto
the seal of the City.
SECTION 5. The law firms of Roland E. Camfield, Jr., and Borge
and Pitt, Attorneys, are hereby employed in order to facilitate the above -
referenced financing, pursuant to the terms and conditions of that certain
letter of employment to this City Council dated May 27, 1983, to render
legal services as co -bond counsel.
PASSED and ADOPTED by the City Council of the City of Downey this
14th day of June , 1983, by the following vote:
AYES: 5 Council Members: Cormack, Jackman, Barb, Davila, Quinn
NOES: 0 Council Members: None
ABSENT: 0 Council Members: None
--- Mayor of the City o D owney
ATTEST:
APPROVED AS TO FORM & LEGALITY:
City Clerk #�.� / j i
C ty Attor ey