Laserfiche WebLink
1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />C9 <br />12 <br />x O <br />to 13 <br />p W W 0 d <br />W� Noz, 14 <br />U W O <br />IL iL <br />IL <br />IL <br />15 <br />3 m 0 0 w <br />0 <br />a °N 16 <br />J W g a w <br />m �D_: 17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />RESOLUTION NO. 4369 <br />A RESOLUTION OF THE CITY COUNCIL OF THE <br />CITY OF COLTON AUTHORIZING THE PREPARA- <br />TION AND FILING OF A NOTICE FOR AN <br />ALLOCATION OF RESIDENTIAL MORTGAGE <br />REVENUE BONDS FROM THE CALIFORNIA <br />MORTGAGE BOND ALLOCATION COMMITTEE <br />WHEREAS, the City of Colton (the "City") is authorized <br />under provisions of Part 5 of Division 31 of the Health and Safety <br />Code of the State of California (commencing with Section 52000 and <br />referred to herein as "AB 1355") to issue its bonds and to use the <br />proceeds thereof to defray the costs of acquiring home mortgages; <br />and <br />WHEREAS, the Redevelopment Agency for the City of Colton <br />(the "Agency") is authorized under the provisions of Chapter 8 of <br />Part 1 of Division 24 of the Health and Safety Code of the State of <br />California (commencing with Section 33750 and referred to herein as <br />"SB 99") to issue its mortgage revenue bonds to finance new resi- <br />dential construction within redevelopment project areas; and <br />WHEREAS, the City contemplates either (i) establishing a <br />home financing program under AB 1355 or (ii) causing the Agency to <br />(undertake such a program under SB 99; and <br />WHEREAS, the City further contemplates an issue of its <br />mortgage revenue bonds under AB 1355 or an issue of the Agency's <br />bonds under SB 99 for the purpose of financing said program, all <br />upon such terms and conditions as may subsequently be agreed upon by <br />the City or the Agency and any participants in said program; and <br />WHEREAS, in order to obtain an allocation from the <br />California Mortgage Bond Allocation Committee in order to issue <br />28 such bonds within the limits imposed by the Federal Mortgage <br />