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<br />. <br /> <br />. <br /> <br />. <br /> <br />WHERE'AS, the Þqercy hereby fims am deteJ:mines that it is in the best <br />interest of the Agercy to participate in the Program am to 0Œ1SE!IIt to the <br /> <br />operation of the Program by the Ccunty within the qeogtaprlc bamdaries of the <br />project areas of the Þqercy am within the bamdaries of the city; am <br /> <br />WHERE'AS, the Agercy desires to enter into a Cooperative 1\greemeI1t with <br />the Ccunty to pemit the operation of the Program within the bamdaries of - the <br /> <br />City; am <br />WHEREAS, Section 146 of the Inten1a1 Revenue 0:Jde of 1986, as aJIIB )jed <br /> <br />(the "0:Jde"), limits the aJOOUIIt of JIDrtgage credit certificates that may be <br />issued in arr¡ calerœr year by entities within a state am authorizes the <br /> <br />gcvernor or the legislature of sud1 state to provide the method of allocation <br />within sud1 state; am <br /> <br />WHERE'AS, QIapt:er 11.8 of Division 1 of Title :2 of the Gcv'en1ment 0:Jde of <br />the state of Califonrla (the "Gavemment 0:Jde") govems the allocation of the <br /> <br />state oeilin;J (as that tenD. is defined in the 0:Jde) !I1IrJn¡ gcvemnental units <br />in the state of Califonrla (the "state") havin;J the authority to issue <br /> <br />JIDrtgage credit certificates; am <br />WHERE'AS, section 8869. 85 of the GaI1ernment: 0:Jde requires a local agency <br /> <br />to file an awlication for a portion of the state oeilin;J with or upon the <br />direction of the Califonrla Debt Limit Allocation Camnittee (the "Camnittee") <br /> <br />prior to the issuaooe of JJDrt.gage credit certificates; am <br />WHERE'AS, the Þqercy has determined to transfer to the Ccunty pn'SUaJ'lt to <br /> <br />Section 8869.85(d) of the Gcv'en1ment 0:Jde, the total aJOOUIIt, if arr¡, of <br />authority to issue JJDrt.gage credit certificates allocated to the Þqercy iran <br /> <br />the state oeilin;J; am <br />