HomeMy WebLinkAboutResolution No. 4544 RESOLUTION NO. 4544
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DOWNEY
TRANSFERRING ITS ALLOCATION OF MORTGAGE SUBSIDY BONDS TO THE
COVINA - RANCHO CUCAMONGA - CALEXICO - DOWNEY HOUSING FINANCE 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 as part
of a joint exercise of powers agency 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 Covina - Rancho Cucamonga - Calexico - Downey Housing Finance Agency in
an amount of $2,500,000.
SECTION 2. The City Clerk shall certify to the adoption of this
Resolution.
APPROVED AND ADOPTED this 12th day of March 1985.
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Randall R. Barb, Mayor
ATTEST:
CityClek
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 12th
day of March , 1985, 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
City Clerk
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