1983 RES NO 4286 - Laserfiche WebLink

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111 2 3 4 5 6 7 Al ill 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 'RESOLUTION NO. 4266 A RESOLUTION OF THE CITY COUNCIL OF THE POLTO�d ADOPTING A HOUSING FINANCE REVENUE BOND PROGRAM I COOPERATION WITH THE COUNTY OF SAN BERNARDINON DFOR AUTHORIZING THE 'MAYOR AND CITY CLERK TO EXECUTE AND ON BEHALF OF THE CITY A COOPERATIVE IAND THE MENT CITY. BETWEEN THE COUNTY OF SAN BERNADINO WHEREAS, there is a shortage in the County of San Bernardino (the "County") and in the City of Colton (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; and WHEREAS, the Board of Supervisors of the County has adopted Ordinance No. 2496 declaring its intent to engage in a housing finance revenue bond program (the "Program") pursuant to Chapters 1-5 of Part 5 of Division 31 of the Health and Safety Code of the State of California the "Act") and to issue bonds pursuant to the Act to provide funds for the Program; and WHEREAS, this Council finds and determines that it is in the best interest of the City to adopt the Program and to consent to the operation of the Program by the County within the geographic boundaries of the City pursuant to the Act. NOW, THEREFORE, BE IT RESOLVED, by the Council of the City of Colton, as follows: 1. The City hereby adopts 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 County with respect to all property located within the geographical boundaries of the City.