HomeMy WebLinkAboutResolution No. 4541 RESOLUTION NO. 4541
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DOWNEY
TRANSFERRING ITS ALLOCATION OF MORTGAGE SUBSIDY BONDS
TO THE REDEVELOPMENT AGENCY
WHEREAS, the City of Downey has received an allocation
from the Mortgage Bond Allocation Committee; and
WHEREAS, the City believes that the purposes of the City
will be better served by having the Redevelopment Agency of the City carry out
the issuance of the Bonds.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF DOWNEY
DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. A portion of the City's 1985 allocation of Mortgage
Subsidy Bonds from the Mortgage Bond Allocation Committee is hereby
assigned to the Redevelopment Agency of the City of Downey in an amount
of $2,500,000.
SECTION 2. The City Clerk shall certify to the adoption of this
Resolution.
APPROVED AND ADOPTED this 26th day of February 04:r.
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City C erk
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES) SS.
CITY OF DOWNEY )
I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the City
Council of the City of Downey at a regular meeting hereof, held on the 26th
day of February /9S by the following vote, to wit:
AYES: 5 COUNCIL MEMBERS: Davila, Santangelo, Boggs, Cormack, Barb
NOES: 0 COUNCIL MEMBERS: None
ABSENT: 0 COUNCIL MEMBERS: None
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City Clerk