HomeMy WebLinkAboutContracts & Agreements_5-1983_CCv0001.pdf COOPERATIVE AGREEMENT
THIS COOPERATIVE AGREEMENT (the "Agreement") , made
and entered into as of March 1, 1983 by and between the County
of San Bernardino, a political subdivision of the State of
California (the "County" ) , and the City of Redlands,
California 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. 2496 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 1983 (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 mortgages pursuant to
the Act from the proceeds of the Bonds by agreeing that 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. 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 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 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 haves 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
I A
By: By:.
------------
:L r—m a n Board
0
MAR 14
Supervisors
ATTEST:. ATTEST�
By:
By:
ty CleDeputy Clerk,
Board of Supervisors
APPROVED AS TO FORM: APPROVED AS TO FORM:
'Ionp,;a� si-,ned
Edard Coo-Holmes' By Dep. Co unty Cou-nser APR 19 1983
City Attorney Deputy County Counsel
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040318-0008-114-0832a 01/18/83