Resolution 10005CITY OF ALAMEDA RESOLUTION NO. 10005
AUTHORIZING APPROPRIATION OF $80,000 FROM
GENERAL FUND RESERVES TO FUND MORTGAGE
REVENUE BONDS
WHEREAS, the City Council of Alameda has determined
the need for $1,000,000 in Mortgage Revenue Bonds to assist
first time home buyer to purchase existing housing now avail-
able in the City; and
WHEREAS, the City Council of Alameda has determined the
need for $1,000,000 in Mortgage Revenue Bonds to assist home
owners to conserve, improve and rehabilitate existing housing
and
WHEREAS, a commitment fee is required to be posted for
the issuance of said bonds; and
WHEREAS, such loan will be repaid by the borrower with
interest to the City.
NOW THEREFORE, BE IT RESOLVED that the City Council of
the City of Alameda authorizes a loan from the General Fund
Reserves of an amount not to exceed $80,000 for a commitment
fee for said Mortgage Revenue Bonds.
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 15th of March, 1983,
by the following vote to wit:
AYES: Councilmembers Diament, Gorman, Sherratt, Stone and President Corica -
NOES: None.
ABSENT:
None.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the
official seal of said City this 16th day of March, 1983.
City Clerk of the C y of" ameda