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<br />. <br /> <br />. <br /> <br />. <br /> <br />WHEREAS, the Agency hereby finds and determines that it is <br />in the best interest of the Agency to participate in the Program <br /> <br />and to consent to the operation of the Program by the County <br />within the geographic boundaries of the project areas of the <br /> <br />Agency and within the boundaries of the city; and <br /> <br />WHEREAS, 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, <br /> <br />as amended (the "Code"), limits the amount of mortgage credit <br /> <br />certificates that may be issued in any calendar year by entities <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, Chapter 11.8 of Division 1 of Title 2 of the <br /> <br />Government Code of the State of California (the "Government <br /> <br />Code:) governs the allocation of the state ceiling (as that term <br />is defined in the Code) among governmental units in the State of <br /> <br />California (the "State") having the authority to issue mortgage <br /> <br />credit certificates; and <br /> <br />WHEREAS, section 8869.85 if the Government Code requires a <br /> <br />local agency to file an application for a portion of the state <br /> <br />ceiling with or upon the direction of the California Debt Limit <br /> <br />Allocation Committee ("CDLAC") prior to the issuance of mortgage <br /> <br />credit certificates; and <br /> <br />WHEREAS, the Agency desires that the County file an <br /> <br />application with CDLAC on behalf of the Agency for an allocation <br />