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<br />. <br /> <br />. <br /> <br />. <br /> <br />Program both within and without the project areas of the Agency, <br /> <br />but within the boundaries of the city; and <br /> <br /> <br />WHEREAS, the Agency hereby finds and determines that it is in <br /> <br />the best interest of the Agency to participate in the Program and <br /> <br /> <br />to consent to the operation of the Program by the County within the <br /> <br />geographic boundaries of the project areas of the Agency and within <br /> <br />the boundaries of the city; and <br /> <br />WHEREAS, <br /> <br />the Agency desires to enter into a Cooperative <br /> <br />Agreement with the County to permit the operation of the Program <br />within the boundaries of the city; and <br /> <br />WHEREAS, Section 146 of the Internal Revenue Code of 1986, as <br /> <br />amended <br /> <br />"Code"), <br /> <br />limits <br /> <br />amount <br /> <br />mortgage <br /> <br />credit <br /> <br />the <br /> <br />of <br /> <br />(the <br /> <br />certificates that may be issued in any calendar year by entities <br /> <br /> <br />within a state and authorizes the governor or the legislature of <br /> <br />such state to provide the method of allocation within such state; <br /> <br />and <br /> <br />WHEREAS , <br /> <br />Chapter 11. 8 <br /> <br />of Division 1 <br /> <br />of Title <br /> <br />of the <br /> <br />2 <br /> <br />Government Code of the State of California (the "Government Code:) <br /> <br />governs the allocation of the state ceiling <br /> <br />(as that term is <br /> <br />defined in the Code) among governmental units in the State of <br /> <br />California (the "State") having the authority to issue mortgage <br />credit certificates; and <br /> <br />WHEREAS, Sec~ion 8869.85 if the Government Code requires a <br /> <br />local agency to file an application for a portion of the state <br /> <br /> <br />ceiling with or upon the direction of the California Debt Limit <br /> <br />-2- <br />