HomeMy WebLinkAboutResolution No. 4549 RESOLUTION NO. 4549
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DOWNEY
APPROVING THE JOINT EXERCISE OF POWERS AGREEMENT
BETWEEN THE CITY OF EL MONTE AND THE CITY OF DOWNEY
CREATING THE EL MONTE - 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 purpose of the City
will be better served by undertaking the proposed bond issue in conjunction
with a similar proposed bond issue of the City of El Monte;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF DOWNEY
DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. The Joint Exercise of Powers Agreement, in the form
attached hereto as Exhibit "A ", is hereby approved.
SECTION 2. The City Manager and the City Clerk are hereby authorized
and directed to execute and attest the agreement,
respectively, and to execute such other documents as may
be necessary to complete the formation of the authority
created by the agreement.
SECTION 3. The City Manager or his deputy is hereby authorized and
directed to file such notice or documents and to take such
other actions as are necessary to complete the formation
of the authority created by the agreement.
SECTION 4. The City Clerk shall certify to the adoption of this
Resolution.
APPROVED AND ADOPTED this 12th day of March 1985.
Randall R. Barb, Mayor
ATTEST:
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 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