HomeMy WebLinkAboutRESOLUTIONS - 06201995 - 95-253 THE BOARD OF SUPERVISORS OF CONTRA COSTA COUNTY, CALIFORNIA
Adopted this Resolution on June 209 1995 by the following vote:
AYES: Supervisors Rogers , Smith, DeSaulnier, Torlakson and Bishop
NOES: None
ABSENT: None
ABSTAIN: None
RESOLUTION NO. 95/ 253
SUBJECT:
Resolution of the County of Contra)
Costa Conditionally Providing for )
the Issuance of Revenue Bonds to }
Finance the Construction of )
Multi-Family Housing Developments )
WHEREAS, the County of Contra Costa (the "County") is a legal
subdivision and body corporate and politic of the State of
California, duly organized and existing under the Constitution and
laws of the State of California; and
WHEREAS, the Board of Supervisors of the County, after careful
study and consideration, has determined that there is a shortage of
safe and sanitary housing within the County, and that it is in the
best interest ,of the residents of the County and in furtherance of
the health, safety and welfare of the public for the County to
assist in the financing of housing developments; and
WHEREAS, pursuant to Division 31 of the Health and Safety Code
of the State of California, and particularly Chapter 7 of Part 5
thereof (the "Act") , the County is empowered to issue and sell
-- -----_--bonds --for --the --purpose -of ---making ---mortgage ---loans --or --otherwise - - ---
providing funds to finance the development of multi-family rental
-- - - housing, -including units for -lower-income households and very-low - -
income households; and
WHEREAS, the Board of Supervisors has now determined to
provide financing for the multi-family developments identified in
Exhibit A hereto , (the "Developments") , and in order to finance the
Developments the County intends to issue, at one time or from time
to time, ' revenue bonds pursuant to the Act;
NOW, THEREFORE, BE IT RESOLVED, by the Board of Supervisors of
the County of Contra Costa as follows:
1 . The Board of Supervisors hereby determines that it is
necessary and desirable to provide construction and permanent
financing for the Developments pursuant to the Act or other
appropriate authority, by the issuance of Mortgage Revenue Bonds
(the "Bonds") , in an aggregate principal amount not to exceed the
amounts set forth in Exhibit A, subject to the conditions that with