Resolution 09427CITY OF ALAMEDA RESOLUTION O. 9427
AUTHORIZING EXECUTION OF AGREEMENT WITH SECURITY
PACIFIC NATIONAL BANK RELATING TO A HOUSING
REHABILITATION LOAN
WHEREAS, the City has authorized a Housing;Rehabilitation
Program as part of its Community Development Block Grant Program;
WHEREAS, City has requested of Security Pacific National
Bank to make, FHA Title I Insured Property Improvement Loans to
certain qualified owners of real property;
WHEREAS, the purpose of said loans will be the rehabilita-
tion of said real property;
WHEREAS, Security Pacific National Bank is willing to
consider making loans to qualified City applicants uti:l:izing its
own prudent banking judgment;
NOW THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY
OF ALAMEDA that the Mayor and City Clerk be, and each hereby is,
authorized and directed' to execute and to attest to, respectively,
an agreement on behalf of the City, with SECURITY PACIFIC NATIONAL
BANK, by which the latter will consider making loans to qualified
City applicants lereinabove referred to
I, the undersigned, hereby certify that the foregoing
Resolution was duly and regularly adopted and passed by the
Council of the City of Alameda in regular meeting assembled
on the 16th day of December, 198O, by the following vote, to wit:
AYES: Councilmen Diament, Sherratt, Stone, Tillman and
President Corica - 5.
NOES: None.
ABSENT: None.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed
the official seal of said City .his 17th day of December, 1989.
l�rk'of — � ,7\ty ^��-�ameda