HomeMy WebLinkAboutRESO 6009:" .... 'I • ORIGINAL
RESOLUTI~~ NO. 6009
RESOLUTION or TRI COUNCIL 07 TBB CITY OF PALO ALTO
AOTBORIZING '!'BB BXBCU'l'ION OP 'l'B! STANDARD AGl<BBMENT
AND OTRBR DOCUMENTS TO SECORE A COMMITMENT OF ~tJNDS
PROM TRH DBPBRRED PAYMD."T IU:llABILITATION LOAN
PROGRAM OP THB ST~TE OF CALIFORNIA
The Council of the City of Palo Alto does RESOLVE as follows:
WHEREAS, pursuant to Se~tions 50660-50670 of the California
Health and Safety Code, the California Departm~nt of Housing and co--
munity Development (herein"fter referred to as the •state•) is autho-
rized to provide funds for the rehabilitation of housing in designated
areas1 and
WHEREAS, the City of Palo Alto, a local public agency organized
as a Charter City pursuant to the Constitutio;i of the State of Cali'-
fornia, is eligible to receive said funds aad has applied to the St~te
of California for a col'lllliitment of said funds
NOW, TBBREPORB, the Council of the City cf Palo Alto does RBSOLVR
as follows:
SBCTIOR l. The City of Palo Alto is hereb}· authorized to enter
into a Standard Agreement wlth ~he State to accept a comitment in an
a"K>unt not to exceed a tot~l of Seventy-Five ~ousand Doliars
($75,000.00) for purposes of lending deferred payment loans for hous-
ing rehabilitation, subject to the terms of said agreement and to the
rules ar..d regulations governing the use of &aid funds.
SECTION 2. The City of Palo Alto is hereby authorized to qive
approp1:l&te instruments to the State as evidence of said debt anG that:
the City Man9er or his designee is hereby authorized to execute, in
the na .. e of the City of Pal" A!to, said standard agreement and other
docuaents required to complfte this transaction.
SBCTIOH 3. City Manager. or his . designated representative is
hereby authorized to execute all docuaents required to make •~d record
each individual loan u.,der this program to pr?gram ~rti~ipants.
S&C'l'IOli .&. The Council finds that this is not a project under
the California Environmental Quality A-:t and, therefore, no environ-
mental impact assessment js necessary.
INTRODUCBD ARD PASSED: March 15. 1982
AYBSs Bechtel, Cobb, Eyerly, Fazzino, Fletcher, Klein, Levy, Renzel,
Witherspoon
llOBSs None
ABSBlfta None
ABS~BRSIOWSs None
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