1991-04 CRA - Laserfiche WebLink

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. . . section 4. 'Ihe Executive Director, or his designee, is authorized, on behalf of the Agency, to submit an application, am. such other documents as may be required, to CDIAC f= an allocation in the aJOCIUI1t of $5,000,000., for a¡:plication to the issuance of mortgage credit certificates by the County. section 5. An ëIIIKJl1I1t up to one percent (1%) of the requested allocation is hereby authorized to be placed into an acc:::cmrt: fran holism; set aside funds, am. the Executive Director is authorized to certify to CDIAC that such aJOCIUI1t is available. section 6. 'Ihe 1\qency hereby authorizes the transfer to the Coonty of all of the principal ëIIIKJl1I1t, if aIr:I, of mortgage credit certificates allocated to the Þqency by CDIAC. 'Ihe Executive Director = his designee, on behalf of the Þqency, is authorized am. directed to take such steps am. execute such documents as are necessary to effect the transfer of such allocation to the County solely for application to the issuance of mortgage credit certificates, the proceeds of which are to be used to :imuce the origination of home mortgage loans to qualifym; persons who will reside within the City am. the County . Section 7. 'Ihe Executive Director is authorized to cause the payment to the County of the Þqency's proportionate share of administrative costs of the Program referred to in Item 2 above. Section 8. 'Ihe officers am. enployees of the Þqency are authorized am. directed, jointly am. severally, to do aIr:I am. all thin;s necessary or advisable in order to effectuate the pw:poses of this resolution = the issuance of the mortgage credit certificates by the County, am. all actions previously taken by such officers am. enployees in connection with the