HomeMy WebLinkAboutContracts & Agreements_11-1985_CCv0001.pdf RE: RESO=ON NO.
AD&TED w 4/29/85, Item #10
COOPERATIVE AGREEMENT BETWEEN THE COUNTY
OF SAN BERNARDINO AND THE CITY OF REDLANDS
THIS COOPERATIVE AGREEMENT (the "Agreement") , made and entered into as
of 1985 by and between the County of San Bernardino, a legal
su division 'and body corporate and politic of the State of California (the
"County") , and the City of Redlands, a political subdivision of the State of
California (the "City") ,
WITNESSETH :
WHEREAS, the County has determined to engage in a housing finance revenue
bond program pursuant to Chapters 1-5 of Part 5 of Division 31 of the Health and
Safety Code of the State of California (the "Act") to make or purchase,
directly or indirectly, loans to finance the construction or acquisition of
homes in the County, all as provided for in the Act (the "Program"); and
WHEREAS, the County, pursuant to the Act, has determined to cooperate with
the City pursuant to the Act in the exercise of its powers under the Act for
purposes of the Program;
NOW, THEREFORE, in consideration of the mutual covenants hereinafter
provided, the parties hereto agree as follows:
SECTION-1. The terms used in this Agreement shall , for all purposes of this
Agreement, unless otherwise defined herein, have the meanings assigned to such
terms in the Act.
SECTION 2. The County agrees to undertake the Program and to issue its
Residential Mortgage Revenue Bonds, Issue of 1985 (the "Bonds") therefore pursuant
to the Act as soon as practicable.
SECTION 3. The City hereby agrees to cooperate with the County in the
exercise jointly or otherwise of their powers for the purpose of financing home
mortgages pursuant to the Act from the proceeds of the Bonds by agreeing that the
County shall exercise such powers to make or acquire home mortgages under the
Program, all as more specifically set forth in the Act, with respect to property
located within the geographic boundaries of the City.
SECTION 4. The City agrees to undertake such further proceedings or actions
as I may Se necessary in order to carry out the terms and the intent of this
Agreement. Nothing in this Agreement shall prevent the County from entering into
one or more agreements with other political subdivision within the County, if
deemed necessary and advisable to do so by the County.
SECTION 5. This Agreement may be amended by one or more supplemental
agreements executed by the County and the City at any time, except that no such
amendment or supplement shall be make which shall adversely affect the rights of
the holders of any bonds issued by the County pursuant to the Act in connection
with the Program.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed and attested by their proper officers thereunto duly authorized, and their
official seals to be hereto affixed, all as of the day first above written.
CITY OF REDLANDS COUNTY OF SAN BERNARDINO
JJ
By: By:'L
Mayor airman, oar of5upervisors
APR 2 91985
ATTEST: ATTEST:
ity CTer puty LTerY, Boardof Supeisors
APPROVED AS TO FORM:
e`puty ou, y Counsel
[Seal] [Seal]
1, MARTHA M. SE EP Y�-- �:.-�,,:�i!7p
Supervisors of th Ccuriv
State of Calii s*¢a, hereby cerci i .the fore.
going instrument to be a fuN, true and cor.
rect copy of the original now on file in my
office.
Dated:
Clerk of the BOafrdw
By,
� t