HomeMy WebLinkAboutCity Council - 5419 RESOLUTION NO. 5419
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF HUNTINGTON BEACH AMENDING RULES
AND REGULATIONS RELATING TO ITS HOME
MORTGAGE FINANCING PROGRAM
WHEREAS, the legislature of the State of California has
authorized redevelopment agencies to purchase long-term,
low-interest rate loans made to provide financing for new
residential construction in redevelopment project areas in
order to encourage investment within and to upgrade such areas
and has authorized redevelopment agencies to issue bonds to
finance the purchase of such loans;
The city has undertaken a Home Mortgage Financing
Program and, to that end, has authorized the issuance of home
mortgage revenue bonds for the purpose of purchasing home
mortgages to provide financing for residential construction
within the city' s redevelopment project areas in order to
encourage investment within and to upgrade such Project Areas,
and;
The provisions of applicable law require the city to
adopt Rules and Regulations in implementation of the city's
Home Mortgage Financing Program and the city has adopted such
Rules and Regulations which the city now desires to amend;
NOW, THEREFORE, BE IT RESOLVED that the City Council of
the City of Huntington Beach does find, determine and resolve
as follows:
1. The Rules and Regulations, as hereby amended and
attached hereto as Exhibit "A" , are hereby adopted and approved
1 .
as the Rules and Regulations of the city relating to its Home
Mortgage Financing Program.
PASSED AND ADOPTED by the City Council of the City of
Huntington Beach at a regular meeting thereof held on
the 30th day of July 1984.
ATTEST: INITIATED AND PROVED:
City Clerk Speqfal Y65ects Coordinator
APPROVED AS TO FORM: REVIEWED AND APPROVED:
-7(f v�
�_yJ__ City Attorney 17-`fig, City Administrator
2 .
EXHIBIT "A"
RULES AND REGULATIONS OF THE HUNTINGTON BEACH
REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH
AS AMENDED
On file with the City of Huntington Beach
3.
Res. No. 5419
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) es:
CITY OF HUNTINGTON BEACH
I, ALICIA M. WENTWORTH, the duly elected, qualified City
Clerk of the City of Huntington Beach, and ex-officio Clerk of the
City Council of said City, do hereby certify that the whole number of
members of the City Council of the City of Huntington Beach is seven;
that the foregoing resolution was passed and adopted by the affirmative
vote of more than a majority of all the members of said City Council
at a regular adjourned meeting thereof held on the 30th day
of July 19 84 , by the following vote:
AYES: Councilmen:
MacAllister, Thomas, Kelly, Finley, Bailey
NOES: Councilmen:
None
ABSENT: Councilmen:
Pattinson, Mandic
01
City Clerk and ex-officio Clerk
of the City Council of the City
of Huntington Beach, California