HomeMy WebLinkAboutMINUTES - 08281984 - 1.42 r YZ
THE BOARD OF COi•'IMISSIONERS
HOUSING AUTHORITY OF CONTRA COSTA COUNTY
REG. I:C, ltlil)
(Rev. ITUD• '.'i201)
3434
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TO AIRMAL COPICi'.t11U'i):(ii1," �:..Ot!'i'1tAl.;'1' I!ri,
rlt.t)VIDT.Nt; roti 11';ll•: DFI POS IJ OF MOtd)T-5 Itidr.,r;t; A 1,1`111;1'.ht, I)l-l't)St'l
AGR MIEN'T; -AND 'Ulf!" i."=LIltNt:r' '.>(- i:'tt(!,+*C'1' 1,Atl NOi'CS At!i)
The 11 t hnx-1t-y��t Ile—CouaLty.:oS_Cn.l>~t��.�
(herein cal ed the "Locni. Artth,11-f.ty") prnpot,c^ (I.) tt+ cn►:er i.ntu nn :+n+rndmenl: Lr, HjR!
existing Annual Contributions (;ontcnct: (herr•i.+t the "Amendm^nt") uri.tl+ Che United
States of America (herein called the (2) to provide for tale deirorlt or
monies pursuant to a General De.poslL. Iry and (3) to auth.nrize the issuance
of its notes as evidence of advances 't d be m,,Wt, �.o i-ht Lcical Authority pursuant to the
Contract, 'As amended; 'all with respect to nny "1'r.oj!-!0t " as defined in the t;nntrnt t , ns
amended, and which at any time now or hereafter - 1rtt_orporat:cd under the terms of such
Contract, as amended.
BE IT RESOLVED BY THE LOCAL AUTHORITY,- AS FOL1,01,15 ;
Section 1. The Amendment to the Annual Contributions Contract is hereby approved and
accepted and the Chairman or Vice Chairman i.s hereby Iuthori, ed and directed to execute
three counterparts of the Amendment on behnlf of the .Local AuthtyrfLy, and the Secretary
is hereby authorized to impress and Ittest the off ic kil seal of Lhe Locnl Authc+rity on
each such counterpart and to forward sucii execut:ed counCer.pnrts , or any of tl+em, to the
Government togetlier with such other document^ evi.denri.nf; the npprovnl and attt-hurizi.ne
the execution thereof as may be required by tl+e Covernmettt ,
1/"Srct_ io 2. The __
and t Local Authority previously enerted Apreenient' do d
on form (I'IIA-1999) (rnA-1999A) provi.clinf; roi .the'deposi.t !if
monies pertaining Lthe project (s) spvci.fi.ed thereto, The Agreemen-r is hcrchv termt-
nated and approval is xr`y given t:o the [or.m and suhstnnce-h'("n suhsl:tlute c:enernl
Depositary' Apreement substnn-rial\y in the form of, the ctir.renl revised {fllU-519'?`JA to
•be entered into with �-�
and the Chairman or Vice Chairtron-46 heteby nilthorized and directed to execute said
Contract in triplicate on,beliblf of the Locnl Autl i'i>ty, Incl the Sec_retnry is trcreby
authorized' and directe'lc to impress and attest the off:icial—seat of the f,ocnl. Authority
on each such a nterpart and to rorwnrd snid executed cnunte patts, or Inv of them, to
the Go meat together with. such other documents evidencing the apperval nnd nuthori.zinP
-timrexecutlon thereof as may be required by the Gclvernmcnt .
Section 2. The Bank of America NTF,SA
and the Local Authority linve pr.evi.uusly r+itered into a Gcnernl Uepositar. y Agreement ,
form HUD-51999A dated December 15 , 1901_ which provides for the deposit of sprci.f i.ed
monies of ". . .one or more nddittonnl low rent housing projects . . . ". The Lcc:rl
Authority hereby determines that pursuant to the terms of the Agreement the aforenamed
Bank shall be the Depositary for the project estnhlished under this Amendment .
Section 3. The Executive Director _ is herri,y nuti+ortzed to File with the
Government from time to tithe , as monies are regr+tred, requi_si.tions together with t-i+e
necessary supporting documents rec{uestinf; advances to he made on account of the ic"an
provided in the Contract , as amended , and thr proper officers of the Local Authortty shntl
prepare, execute and deliver to the Government: Notes hereinrif.ter. authorized and shall.
accept payment therefor from the (;nvrrnmerrt in cash and/or exchnnf.e for other t!+rtrs of
the Local Authority, and, such persons nr.e nk+thori_zed to do and perform nli. other thinf;s
and acts required to he clone or performed 1.11 order to oht:ai.n such ndvoncer . Cash proceeds
from the sale of all Notes shnll. he deposited :End d1.sburr;ed only in nccordnnce with the
provisions of the Contrnct, ns amended .
Section 4. (A) In order to provtcle moni.cs I:o fi.nance tier, Uevetopment Cost of cath
Project and to refund , renew, extend or stthsti.tnte [car any Project Loan Nates (fn the
Contract called "Advance Nates") or pernint�er+t Wntes by tilts Resolution aulltori^ed to be
issued (or any such Notes by any other resolution authorized to be issued and tahich are
-1.- 00325
REG. IX, MID I.. U',11-23
(Rev. HUD-9201) (2/71_)
outstanding, or on depoott roe (Itt ) iv ,' ; ln.; ,l: 1:11^P1 rl t ;1 f tlrc: rinl,e I.M
c rn r,1. i t,.. t7;... i 111 Llle cl:'• 1.r:ir... rn.l it:d
Resolution lheranles off. r,t.i� ) , I'•
"Temporary Note:' ") �.R.^•l+rr1 ('f 11- [, I � � 'Pi I .'I;1. �Cil'1t: tr`n r,t L11r (1-1. tvr'ry nr
Project Loan C)rPrr'h?nrint Notesi":ivl,y :iwIr ri ;'rel I.r) Ill 1_g�Urrl , tenter ; 1'11e
to titre , Project Lonn and Pernlrhnr.nt Fl( ter r,f the I, ,,:nl. Arlthorl.iy in an n1+t;rcl',ntn
principal amcntnL outstanding nt vny onr Lina: (t:Iv,thrr .lutl,ori.-rd by 1111 ^ itt'snl.thl: lnn
or any other resolution ntiLhclriztnh talc Ic;t;e,1nc:c: ret 1`t o jeer. Lunn ni.. Permanent: hlr,Urs)
equal to the 13ximum Development Cart, (car the Actwil. Dew^lol,menl: (_;o.yt If !;ucih .nmount
has been determined) of each Pi't1.je.c.1. , 11's", 1111P. t1�nn of (1 ) Owprinr.l.r.11 rlmn+lr,t of
Bonds instied to finance nucli l)^Ve.lopmenl: 1;')111 %111(1 (2) Lie ))lJoC1.pn1 o"wul11: 1.`r pl—jeCt
Loan, Permanent , or Pro jecL NoLes ismwd to f inonc.c rthch ll" :'r.lnhment Cn^.t ind rill i.rb tins
then been retired from funds other• thnn the pr.occedr, of:. nry • Loan obtni.ned by the Loca 1
Authority.
(B) Each such Note shall. bear Interest and be payable in the form and
manner prescribed by the Contract and thin ltesn.luLi.r,hl' shall. be signed in tile name of
the Local Authority y the person Vice-Chair b ��er ort t have the o f f l.cirl l sent of
Cha i r_
the Local Authority impressed thereon dhnd ntfesl:vd by t,e Secretary/Acting Secretary
Each Project Loan Note shall be in nubstnntioll.y the form of rorm No. 11UD-9204 and encu
Permanent Note shall be in substant:inlly the form of Corin 140. 1}UD-52250, each of which
form is incorporated herein by reference and made a pntt 1lereof, Project Loan Notes
and Permanent Notes shall be issued to finance the Development Cost of Non-Perrnnnentty
Financed Projects and Permanently Financed Pr.nject:s , respectively.
(C) Each Note issued with respecL to any Pre,jec.L shall lie a di.rer-L noel
general obligation of the Local Authority, file full ('lith and credit, of which is hereby
pledged for the punctual payment of: the pri.nr.ilinl or and interest on quell Notes , nild ,
together with all other Notes issued pursuont to thi_1; Renolution, shall be nddtLionn) ty
secured by (1) n .first pledge of the nh,ntinl conLribhlLLons pnynble to the Lncnl Ahathnrity
and authorized to be pledged to such pny111ant: +pursuant Lo the Contract and (2) by a pledge
of and lien on the Residual Receiptn of such Project after providing for the payment of
Bonds issued in respect to such Project .
(D) As additional security f.nr t:hr ehp.lnl tinct rntnble pnynlrnt fir Lie
principal of and interest on each Note issued with respecL to nny Project , together with
each other Note issued. with respect to such Project , the Local Authority, to the fullest
extent permitted by the Lnws of tile Stnte , hereby pledges , mor. Lgnres , cnnveys and prnnCs
unto the Government all property described Ln Cite Cnntrnct constituting such Project ,
including that certain real property relatinp, to each such Project and more parti.culnrly
described in the trust instrument or nny amendment thereto ns executed and recorded by
the Local Authority pursuant to the Contrnct : Provi.ded, Vint i.n respect to PernlnnenLty
Financed Projects the lien of such pledge and mortgnge and ri.lhts granted and conveyed
pursuant to this paragraph shall (1) be junior Ln the linthdt, and junior to the pledge of
Residual Receipts securing the Bonds , and (2) not be Foreclosable until nil llondr, shall
have been- paid and discharged in the manner provided i.n file Bond Renotutions . if the
preceding sentence shall be adjudl,,ed by m court of competent jurtstdi.ctton to be invalid
or ineffective it is the intention of the l,oclnl. AuLhortty to be fully oblipnLed under
the other provisions of this Relhol.++t Lnn mitt Lhn t such judl,nlent shall not impair or
invalidate the obligaLton of the Locnl. Authnri.Ly to pny rile principal of and interest
on each'Note from other funds of the Local. Aut,ortty nn herein provided .
Section 5. Whenever the followi.nl terms , r,r any nV t1ir_n1, nre used i.n this Resolution ,
the same, unless the context Glintl inrlicnre another or different: meaning or intent , shall
be construed , and are intended to have mcnnl.n{;s 11s frl.lnw• :
(1) the term 1/Resoluti_on" sh,11). mean thl.s Itesotthtion.
(2) All Other terms Lined in this ResolmLi.rn, nrhd which nre de f illyd
in the rontr.act r.batl. helve the respecLtve menntnrs ascribed
thereto in the Contract- .
Section 6. All resolutions or pnrts of resol.uLkins theretofore adopted by t:11e Ltir•.al
Authority which authorize the Lssunnce nnrl/or del.Lver.y of Advnncv , Project Lr,,1n nr
Permanent Notes pursunnt to the Contract nre hereby re lien le[I : Provided , however , 'flint
such repeal shall in no wny affect the wiltdlty of Advance , Project l,onn or Permanent
Notes- issued pursuant to said resolclt:ions wl+tch nre mitstnndi.ng or on depnsfi ror drli.very
pending payment therefor an Lhc_ dnLe this Resolution becomes effective : Provided further ,
That the Project Loan Notes authorized by*thi.s Resol.utintl 01,11.1 be exchanged for any
Advance Notes heretofore issued pursunnt: Ln any prev.i.ous resolution.
Section 7. This Resolution shall take effect- hilinedintety. 00326
Housing Authority
Resolution no . 3434
August 28 , 1984
Page 3
PASSED on August 28 , 1984 by the following vote of the Commissioners :
AYES : Commissioners Powers , Fanden , McPeak, Schroder ,
Torlakson
NOES : None .
ABSENT : None.
ABSTAIN : None.
CC : Contra Costa County
Housing Authority
County Administrator
County Counsel
00327
HOUSING AUTHORITY
Or nHt
COUNTY OF CONTRA COSTA
3133 ESTUDILLO STREET I.O. BOX 2396
(6151 226.5330
MARTINEZ, CALIFORNIA 96553
CERTIFICATE
I , Perfecto Villarreal , the duly appointed, qualified and acting
Secretary/Treasurer - Executive Director of the Housing Authority of the
County of Contra Costa, do hereby certify that the attached extract from
the Minutes of the Regular Session of the Board of Commissioners
of said Authority, held on August 28 , 19004
is a true and correct copy of the original Minutes of said meeting on file
and of record insofar as said original Minutes relate to the matters set
forth in said attached extract.
IN WITNESS WHEREOF, I have hereunto set my hand and the seal of
said Authority this 28th__ day of August 1984
(SEAL)
Perfeifto Villarreal , Secretary
208-jt-82
00328