R 3058
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RESOLUTION NO. 3058
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ARROYO GRANDE
AUTHORIZING EXTENSION OF EXISTING COOPERATIVE AGREEMENT
REGARDING THE USE OF MORTGAGE CREDIT CERTIFICATES
IN THE CITY OF ARROYO GRANDE AND AUTHORIZING
APPLICATION FOR ADDITIONAL MCC AUTHORITY
WHEREAS, the City of Arroyo Grande ("City") and the Housi ng Authority of -.: I
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the City of San Luis Obispo ("Housing Authority") have previously entered into ::- I
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a Cooperative Agreement, under which the Housing Authority applied for and "-
administered a Mortgage Credit Certificate ("MCC") Program to assist first-time
home-buyers in the City and throughout the County of San Luis Obispo; and
WHEREAS, the original MCC allocation has been used, and a new application
for MCC allocation is necessary to continue to provide the benefits of the MCC
Program to first-time home-buyers in the City.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF ARROYO GRANDE HEREBY
RESOLVES AS FOLLOWS:
Section 1. The Cooperative Agreement, dated September 15, 1993, between
the City and the Housing Authority, is amended by adding the following new
Section 8:
Section 8. This Cooperative Agreement shall continue to be effectivo
between the City and the Housing Authority for so long as the MCC Program
continues in effect, unless sooner terminated pursuant tc _$.e~t.liH:LS; and
no further amendments shall be requi red to take account of future
allocations of MCC authority to be used by the Housing Allthority wittdn
the City and other areas of the County.
Section 2. The Housing Authority is authorized to make application for
present and future MCC authority to the Ca1iforni a Debt Limit Allocation
Committee on behalf of the City to the extent necessa ry to ma inta in the
availability of the MCC Program within the City.
Secti on 3. The Mayor or City Manager is authorized and directed to execute
and deliver the amended Cooperative Agreement for and in the name and on behalf
of the City. The Mayor or City Manager is authorized to approve any additions
to or change in the form of the Agreement deemed necessary or advisable, approval
of such additions or changes to be conclusively evidenced by the execution by
the Mayor or City Manager of the Cooperative Agreement as so added or changed.
The Mayor or City Manager is further authorized to enter into such additional
agreements with the Housing Authority, execute such other docllYlents, or take such
other actions as they may deem necessary or appropriate to carry out the purpose
and intent of the Cooperative Agreement or to cooperate in the implementation
of the MCC Program.
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RESOL UTI ON NO. 3058
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Section 4. This resolution shall take effect from and after its adoption.
On motion of Council Member Burke , seconded by Council Member
Lady , and on the following roll call vote, to wit:
AYES: Council Members Burke, Lady, Souza and Mayor Gallagher
NOES: None
~.- ABSENT: Council Member Brandy
the foregoi ng Resol uti on was passed and adopted th is 25th day of October 1994.
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ATTEST:
, CITY ATTORNEY
I, NANCY A. DAVIS, City Clerk of the City of Arroyo Grande, County of San
Luis Obispo, State of California, do hereby certify under penalty of perjury,
that the foregoing Resolution No. 3058is a true, full, and correct copy of said
Resolution passed and adopted at a regular meeting of said Council on the 25th
day of October, 1994.
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WITNESS my hand and the Seal of the City of Arroyo Grande affixed this
28th day of October, 1994.
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NANCY A DAVIS, CITY CLERK
CITY OF ARROYO GRANDE