HomeMy WebLinkAboutContracts & Agreements_34-1983_CCv0001.pdf COOPERATIVE AGREEMENT
THIS COOPERATIVE AGREEMENT (this "Agreement") , made and entered
into as of September 6, 1983 by and between the County of San
Bernardino, a political subdivision of the State of California (the
"County") , 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 heretofore established a multi-family
rental housing finance program pursuant to Chapter 7 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 development of multi-family rental housing
in the County, all as provided for in the Act (the "Program") ; and
WHEREAS, the County has borrowed money to finance the Program
by the issuance of its Multi-Family Rental Housing Revenue Bonds,
Issue A of 1983 (Redlands Federal Savings and Loan Association
Certificate of Deposit Program) as authorized by the Act;
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; and
WHEREAS, the City has adopted the Program and has determined
to cooperate with the City pursuant to the Act in the exercise of
its powers under the Act for the purposes of the Program;
NOW, THEREFORE, in considaration of the mutual convenants, herein-
after 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 City hereby agrees that the County may exercise
any or all of the City' s powers for the purpose of financing construc-
tion loans or mortgage loans pursuant to the Act and the Program
with respect to multi-family rental housing located within the geo-
graphic boundaries of the City.
Section 3. 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 4. This Agreement may be amended by one or more supple-
mental 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 the Bonds issued by
the County pursuant to the Act in connection with the Program.
Section 5. The term of this Agreement shall extend until the
Bonds issued to finance the Program are fully paid and retired.
IN WITNESS WHEREOF, the parties hereto have c4used this Agree-
ment 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
lam;
By: BY: Chairman, Board of
Mayor Supervisors
ATTEST: ATTEST:
By: By: Deputy Clerk,
Board of Supervisors