R-7151
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RESOLUTION NO.71S1 (CCS)
(CITY COUNCIL SERIES)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA
MONICA AUTHORIZING THE SUBMITTAL OF A PROGRAM
ELIGIBILITY APPLICATION, THE EXECUTION OF A STANDARD
AGREEMENT AND ANY AMENDMENTS THERETO, AND OTHER
DOCUMENTS NECESSARY TO MAKE LOANS UNDER THE STATE OF
CALIFORNIA DEFERRED PAYMENT REHABILITATION LOAN PROGRAM
WHEREAS, the State of Californ1a Department of Hous1ng and
C oIt,m un 1 ty Development has issued an Announcell.ent of FundI ng
Avallab1lity under the Deferred Payment Rehab1l1tat1on Loan
Program "Open Window" fund1ng process; and
WHEREAS, ..pursuant to Sect10n 50660'-5067@ of the Cal1forn1a
Health and Safety Code, the State of Callfornla DepartlT,ent of
HOUSIng and COIT,IT,Un1 ty DeveloplT,ent 1S author 1zed to prov1de funds
for the rehabIlItation of houslng; and
WHEREAS, the Clty of Santa ,'tonlca, herelnafter referred to
as the "Local Agency" IS a local publlC entl ty organlzed under
the laws of the State of Cal1forn1a and IS el1glble to
partIc1pate In the Deferred PaYll,ent Rehabllltatlon Loan PrograJl.
(DPRLP); and
WHEREAS, the Local Agency deSIres to apply and, If accepted,
w1II package loans to be SUbll,1 tted to the Departll,ent of HOUSIng
and COII,IT,unl ty Developll,ent.
The total amount of such loans
approved by the DepartlT,ent shall not exceed $20@,0@O.
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NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA MONICA
DOES RESOLVE AS FOLLOWS:
SECTION 1.
Should the City of Santa Monica's Program
Eligibility Application for partiCipation In the OPRLP be
accepted, the Local Agency hereby certlfles that all uses of the
funds will be
in compliance with
DPRLP Regulatlons,
the
Guidelines thereto, and the Standard Agreement governing the use
of progran~ funds.
SECTION 2.
The Cl ty Coune il of the Cl ty of Santa Mon lca
authorizes th~ CIty Manager or an authorIzed desIgnee Into a
Standard Agreen,ent WI th the Departn,ent of Hous I ng and Con,Il,unl ty
DevelopJTLent and execute other docuIl,ents required to conSUIl.JT.ate
this transaction and operate the DPRLP.
SECTION 3. The City Manager IS further authorized to submit
loan packages to the DepartIl.ent of Housing and COIl.Il.unlty
DeveloplT,ent for approval and to execute all docun,ents requlred to
Il,ake and record each lndl VIdual loan approved by the departIl.ent
under the DPRLP to Individual borrowers.
SECTION 4.
The City Clerk shall certlfy to the adoptlon of
this resolutIon and thenceforth and thereafter the sa~e shall be
in full force and effect.
Approved as to for~:
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Robert M. Myers
City Attorney
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Adopted and approved thIs 28th day of January, 1986.
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I Mayor
I hereby certIfy that the foregoIng Resolution No. 7151(CCS)
was duly adopted by the CIty CouncIl of the CIty of Santa Monica
at a meetIng thereof held on January 28, 1986 by the following
CouncIl vote:
Ayes: Councllmembers: Conn, Jennings, A. Katz, H. Katz,
Zane and Mayor Reed
Noes: Councllmembers: EpsteIn
Abstain: Councllmembers: None
Absent: Councllmembers: None
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