HomeMy WebLinkAboutMINUTES - 05191987 - 1.73 o A
TO: BOARD OF SUPERVISORS C�onlra
FROM: Harvey E. Bragdon Costa
Director of Community Development
DATE: May 6, 1987 County '
SUBJECT: AB 2475 (Hauser)
SPECIFIC REQUEST(S) OR RECOMMENDATIONS(S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS
Adopt position in support of AB 2475 (Hauser) , and authorize the
Chair to sign letters to the bill sponsor and County legislative
delegation.
BACKGROUND/REASONS FOR RECOMMENDATIONS
AB 2475 (Hauser) would amend provisions of State Law governing the
issuance of single family mortgage revenue bonds. Specifically, it
would allow single family mortgage finance programs using the
proceeds of refunding bonds to be governed by income limits in
effect at the time of initial issuance. The County is
contemplating a refunding of both its 1984 and 1985 single family
bonds, and the sale of 1987 refunding bonds in late summer. Being
able to use the previous income limits will benefit the County by
allowing for greater participation among mortgagors and velopers.
CONTINUED ON ATTACHMENT: YES SIGN A
RECOMMENDATION OF COUNTY ADMINISTRATOR RECON MEND N 5F--jBOAj COMMITTEE
APPROVE OTHER
SIGNATURE(S) :
ACTION OF BOARD ON APPROVED AS RECOMMENDED �_ OTHER
VOTE OF SUPERVISORS
I HEREBY CERTIFY THAT THIS IS A
UNANIMOUS (ABSENT 0 ) TRUE AND CORRECT COPY OF AN
AYES: NOES: ACTION TAKEN AND ENTERED ON THE
ABSENT: ABSTAIN: MINUTES OF THE BOARD OF
SUPERVISORS ON THE DATE SHOWN.
cc: Community Development ATTESTED MAY 19 1987
County Administrator PHIL BATCHELOR, CLERK OF
THE BOARD OF SUPERVISORS
- �AND -COUNTY ADMINISTRATOR
BY DEPUTY