Resolution 10204CITY OF ALAMEDA RESOLUTION NO. 10204_
CONTINUING A HOME FINANCE PROGRAM IN ALAMEDA AND
AUTHORIZING STAFF TO APPLY FOR AN ALLOCATION OF
TAX-EXEMPT MORTGAGE REVENUE BONDS FROM THE STATE
OF CALIFORNIA
WHEREAS, there is an urgent need to provide lower cost
mortgages for middle income residents of the City to purchase
homes; and
WHEREAS, the sale of new owner-occupied homes would
broaden the City tax base; and
WHEREAS, the City Council finds that mortgage revenaue
bonds provide a secure and inexpensive way to providing low
cost mortgages; and
WHEREAS, builders in the City of Alameda have expressed
an interest in funding the cost of issuance of these mortgage
revenue bonds;
NOW, THEREFORE, BE.IT RESOLVED BY THE COUNCIL OF THE
CITY OF ALAMEDA that said Council approves an application to
the State of California for an allocation of $25,200,000 in
mortgage revenue bonds to be issued by the City of Alameda.
11/1/83
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 a regular meeting assembled on the 1st day of
November, 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 2nd day of November, 1983.
City Clerk of the