R-7132
Attachment C
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RESOLUTION NO. 7132 (CCS)
(CITY COUNCIL SERIES)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SANTA MONICA APPROVING HOUSING POLICY REPORT
UNDER INTERNAL REVENUE CODE SECTION 103A AND DI-
RECTING ITS PUBLICATION
WHEREAS, SectIOn 103A(j) (5) of the Internal Revenue Code of
1984, as aIT,ended, as IIT,plencented by proposed and tencporary reg-
ulatIons of the Department of the Treasury, Section 6a. 10 3A2 ( l) ,
reqUIres the appl icable elected representatIve of an Issuer of
qualIfIed mortgage subSIdy bonds to publISh, after publlc hear-
Ing, a hOUSIng POlICY report; and
WHEREAS, the CIty CounCIl of the CIty of Santa MonIca IS the
appl icable elected representatIve of the CIty of Santa MonIca,
WhICh CIty proposes to Issue In 1986 qualIfIed mortgage subsidy
bonds; and
WHEREAS, the CIty CounCIl of the CIty of Santa Monica has
receIved a draft housing POlICY report dated NovelT,be r 26, 1985,
has revIewed each and every part thereof, and has conducted a
duly noticed publIC hearIng; and
WHEREAS, it IS in the publIC interest and for the publIc
benefIt that saId hOUSIng POlICY report be approved and
publ1 shed i
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NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA MONICA
DOES RESOLVE AS FOLLOWS:
SECTION 1. The C lty Manager of the City of Santa Monica ~s
hereby authorIzed and dIrected to prepare a sun.n.ary of the com-
ments n.ade at the aforesaid public hearlng and to lnelude said
sun.rr.ary as part of the Polley Report Under Section 103A.
SECTION 2. The report of the CIty of Santa Monica entltled,
"POlICY Report Under SectIon 103A", and dated Noven.ber 26, 1985,
IS hereby approved wlth the lncluslon of saId sun.rr,a ry of
COITIIT,ents.
SECTION 3. The Mayor of the CIty of Santa Monica, as a IT.en,--
ber of the Clty Council of the Clty of Santa Monica, 15 hereby
authorl<:ed and directed to execute sald report on behalf of the
Ci ty Counc~l of the City of Santa Monica as the duly elected rep-
resentat~ve of the CIty of Santa Monlca.
SECTION 4. The CIty Counc~l of the CIty of Santa Monlca
does hereby publ1 sh the Report by authorlz~ng and dlrectlng the
City Manager, and the City Manager is hereby so authorlzed and
directed, to IT.ake saId Report avallable ln the Office of the Clty
Clerk and the DepartlTlent of Conm,unl ty and ECOnOlTllC DevelopIT,ent
for dlstrlbutlon to the publIc.
SECTION 5. The City Manager IS hereby authorIzed and dI-
rected to f1le the Report on or before DeeeIT,ber 31, 1985, wlth
the Internal Revenue Service at the Internal Revenue Servlce Cen-
ter, Phlladelphla, Pennsy1vanla 19255.
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SECTION 6. The Clty Clerk shall certlfy to the adoption of
this resolution and thenceforth and thereafter the san.e shall be
in full force and effect.
Approved As To Form:
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Robert M. Myers
City Attorney
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Adopted and approved this 10th day of December, 1985.
~~ k. ~
I Mayor
I hereby certIfy that the foregoing ResolutIon No. 7132(CCS)
was duly adopted by the City Council of the City of Santa Monica
at a meeting thereof held on December 10, 1985 by the following
CounCIl vote:
Ayes: Councilmembers: Conn, Epstein, A. Katz, H. Katz,
and Mayor Reed
Noes: Councilmembers: None
Abstain: Councilmembers: None
Absent: Councllmembers: Jennings and Zane
ATTEST: "
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~ Y?i:~~
City Clerk
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