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<br />. <br /> <br />. <br /> <br />. <br /> <br />WHEREAS, the Þqency hereby fims am. deteDnines that it is in the best <br />interest of the Agency to participate in the Program am. to oonsent to the <br /> <br />operation of the Program by the County within the geographic bouIx:1aries of the <br />project areas of the Agency am. within the bouIx:1aries of the City; am. <br /> <br />WHEREAS, the Þqency desires to enter into a Cooperative Agreement with <br />the County to permit the operation of the Program within the bourrlaries of the <br /> <br />City; am. <br /> <br />WHEREAS, section l46 of the Inten1al Revenue Cede of 1986, as amen1ed <br /> <br />(the "Cede"), limits the æoount of mortgage credit certificates that may be <br />issued in arrÿ calen:lar year by entities within a state ani authorizes the <br /> <br />goveJ:nOr or the legislature of such state to provide the method of allocation <br />within such state; am. <br /> <br />WHEREAS, Chapter 11.8 of Division 1 of Title 2 of the Government Cede of <br /> <br />the state of California (the "GoITemment Cede") governs the allocation of the <br /> <br />state ceilm; (as that term is defined in the Cede) among govem¡rental units <br />in the state of California (the "state") havm; the authority to issue <br /> <br />mortgage credit certificates; am. <br />WHEREAS, Section 8869.85 of the Government Cede requires a local agency <br /> <br />to file an application for a portion of the state ceilm; with or upon the <br />direction of the California Debt Limit Allocation Committee ("CDIAC") prior to <br /> <br />the issuance of IIOrtgage credit certificates; am. <br /> <br />WHEREAS, the Agency has determined to transfer to the County ~ to <br />section 8869.85(d) of the GoITemment Cede, the total æoount, if arrÿ, of <br /> <br />authority to issue mortgage credit certificates allocated to the Agency from <br />the state ceilm;; am. <br />