HomeMy WebLinkAboutContracts & Agreements_14-1982_CCv0001.pdf COOPERATIVE AGREEMENT BETWEEN THE COUNTY
OF SAN BERNARDINO AND THE CITY OF REDLANDS
THIS COOPERATIVE AGREEMENT (the "Agreement") , made and entered into as
of 9 1982 by and between the County of San Bernardino, a
political subdivision of the State of California and the City of Redlands, a
political subdivision of the State of California (the "City") .
W I T N E S S E T H:
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 adopted the Program by
Ordinance No. 2495 and 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 1982 (the "Bonds") , therefor
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
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mortgages pursuant to the Act from the proceeds of the Bonds by agreeing that
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the County shall exercise such powers to make or purchase 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 may be necessary in order to carry out the terms and the intent
of this Agreement.
Section 5. The City agrees to undertake such further proceedings or
actions as may be 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 subdivisions within
the County, if deemed necessary and advisable to do so by the County.
Section 6. 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 made 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 I REDLAN S COUNTY OF SAN BERNARDINO
IT
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Bv- X
By:
Mayor Chairman, Board of
Supervisors
ATTEST: ATTEST:
By:
By:
Clerk, Board of Supervisors
APPROVED AS TO FORM: APPROVED AS TO FORM:
City Attorney County Counsel
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