HomeMy WebLinkAboutReso 126-96 RuralCalifLeaseRESOLUTION NO. 126 - 96
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
AUTHORIZING THE EXECUTION AND DELIVERY OF A JOINT EXERCISE OF POWERS
AGREEMENT TO PARTICIPATE AS AN ASSOCIATE MEMBER OF THE CALIFORNIA
RURAL HOME MORTGAGE FINANCE AUTHORITY IN THE RURAL CALIFORNIA GOLD
LEASE-PURCHASE PROGRAM
WHEREAS, the City of Dublin (the "City") desires to participate, as an Associate Member with
other counties, cities and local agencies, pursuant to the laws of the State of California, in the California
Rural Home Mortgage Finance Authority's (the "Authority") Lease-Purchase Program;
WHEREAS, there has been presented to this meeting a form of the Joint Exercise of Powers
Agreement (the "Agreement"), which Agreement as amended March 1, 1995, creates and establishes the
Authority; and which sets terms and conditions for Associate Membership in the Authority; and By-law
Number 2 of the Agreement sets terms and conditions for Associate Membership to participate in the
Lease-Purchase Program only;
WHEREAS, the City may issue Bonds (as defined in the Marks-Roos Local Bond Pooling Act of
_1995, being Article 4 of the Chapter 5 of Division 7 of Titles 1 commencing at Section 6584 of the
3ovemment Code) (the "Act"), expend bond proceeds, borrow and loan money for its corporate purposes
under various provisions of law, and acquire, sell, develop, lease or administer property pursuant to
various provisions of law for the benefit of the lands and inhabitants of the City;
WHEREAS, the purpose of the Authority is to assist the City and the other members of the
Authority in providing for the financing, acquisition, construction and rehabilitation of homes for the
benefit of the inhabitants of the City and the other Members, including but not limited to issuing bonds to
encourage home ownership within the City and the boundaries of the members of the Authority.
NOW, THEREFORE, BE IT RESOLVED that
Section 1:
The City Council of the City hereby finds and declares that entering into the
Agreement satisfies various public purposes, including, without limitation,
encouraging home ownership within the City. With respect to the financing of the
construction, acquisitions, and rehabilitation of homes, the City Council of the City
declares that this resolution is being adopted pursuant to Section 52000 of the
Health and Safety Code of the State of Califomia.
Section 2:
The City Council of the City finds and declares that the City desires to participate
in the Authority's Lease-Purchase Program only and applies for Associate
membership in the Authority for that purpose only.
Section 3:
The form of the Agreement, as submitted to the City and incorporated into this
Resolution by reference, is hereby approved. The Mayor of the City is hereby
authorized to execute and deliver the Agreement in substantially said form, with
such changes, or additions thereto that thereafter may become necessary in the
interests of the City and the other members of the Authority and which are
reviewed and approved by the City Attomey, any such changes or additions to be
effective upon the execution and delivery of the Agreement.
Section 4:
The City Council acknowledges that Associate Membership in the Authority is
subject to the terms and conditions of Associate Membership as set forth in the
Agreement and in By-law Number 2, dated March 29, 1996 and by this Resolution
agrees to and accepts those terms and conditions, generally, and specifically, those
provisions relating to participating in the Lease-Purchase Program only.
Section 5: This Resolution shall take effect from and after its adoption.
PASSED, APPROVED AND ADOPTED this 4th day of November, 1996.
AYES:
Councilmembers Barnes, Burton, Howard, Moffatt, and Mayor Houston
NOES: None
ABSENT: None
ABSTAIN: None
ATTEST:
H/cc-mtgs/resogold.doc