Resolution 10116X
CITY OF ALAMEDA RESOLUTION NO. 10116
CONCERNING PAYMENT OF FEES DUE TO CITY BOND AND
MORTGAGE CORPORATION FOR PREPARATION OF CITY OF
ALAMEDA AREA OF CHRONIC DISTRESS TARCET STUDY
WHEREAS, in 1982 City Bond and Mortgage Corporation was
asked by the City of Alameda to prepare an "Area of Chronic
Economic Distress (ACED) Target Study R in connection with a
proposed housing bond issue for the City; and
WHEREAS, City Bond and Mortgage Corporation did prepare
such study, toc7ether with an update in 1983 and did deliver same
to the City; and
WHEREAS; City Bond and Mortgage Corporation agreed that
payment for said Study would not be due until such time as hous-
ing bonds for owner-occupied housing were issued by the City
of Alameda Community Improvement Commission; and
WHEREAS, it was the understanding of both parties that
proceeds of a housing bond issue would be earmarked as the pre-
ferred method of payment for said study; and.
WHEREAS, the City of Alameda subsequently joined with
the County of Alameda Housing Mortgage Bond program and submitted
a request to the County of Alameda for payment of these fees;
and
WHEREAS, the County has agreed to pay the fee if a formal
agreement between the City and the County was approved by the
City Council.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY
OF ALAMEDA that the City Manager is hereby authorized to enter
into an agreement for payment of these fees, in the amount of
TEN THOUSAND DOLLARS ($10,000), to City Bond and Mortgage Corpora-
tion, provided that the payment is made from reimbursements from
proceeds of the bonds.
BE IT FURTHER RESOLVED that the City Manager is directed
to make every effort to secure reimbursement of these fees from
the County of Alameda mortgage bond issuance proceeds, just as
if the bonds had been issued directly by the City.
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 2nd of August, 1983,
by the following vote to wit:
AYES: Councilmembers Gorman, Hanna, Lucas, Monsef and President Diament - 5.
NOES: None.
ABSENT: None.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the
official seal of said City this 3rd day of August, 1983.
City Clerk of the Ciy of ¢a` eda