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RELmvb6/15/94 RESOLUTION NO. 94- 049 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA ANA ADOPTING A HOME MORTGAGE FINANCE PROGRAM IN COOPERATION WITH THE COUNTY OF ORANGE. WHEREAS, there is a shortage in the County of Orange (the "County") and in the City of Santa Ana (the "City") of decent, safe and sanitary housing, particularly of housing affordable by persons in the lower end of the purchasing spectrum, and a consequent need to encourage the construction, purchase and rehabilitation of homes affordable by such persons and otherwise to increase the housing supply in the City and in the County for such persons; and WHEREAS, the Board of Supervisors of the County has resolved to engage in a Home Mortgage Finance Program (the "Program") pursuant to Part 5 of Division 31 of the Health and Safety Code of the State of California (the '!Act"); NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA AS FOLLOWS: SECTION 1: The City hereby adopts the Program for the purpose of increasing the housing supply in the County and in the city and consents to the implementation of the Program by the County with respect to all property located within the geographic boundaries of the City pursuant to the Act. SECTION 2: The agreement, dated as of July 18, 1994, between the County and the City (the "Cooperative Agreement"), in substantially the form submitted to this meeting, is hereby approved; and the proper officers of the City are hereby authorized and directed to execute and deliver the same, for and in the name and on behalf of the City, and to approve any additions to or changes in said foria thereof which they deem necessary or advisable, their approval of such additions or changes to be conclusively evidenced by their execution of the Cooperative Agreement as so added to or changed. The proper officers of the City are further authorized to enter into such additional agreements with the County, execute such other documents and take such other action as they may deem necessary or appropriate to carry out the purpose and intent of the Cooperative Agreement or to cooperate in the implementation of the Program.