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<br />. <br /> <br />. <br /> <br />. <br /> <br />section 4. <br /> <br />An amount up to one percent (1%) of the <br /> <br />requested allocation is hereby authorized to be placed into an <br /> <br />account from housing set aside funds, and the Executive Director <br /> <br />is authorized to certify to CDLAC that such amount is available. <br /> <br />section 5. <br /> <br />The Agency hereby authorizes the transfer to the <br /> <br />County of all of the total principal amount, if any, of the <br /> <br />authority to issue mortgage credit certificates allocated to the <br /> <br />agency by CDLAC. <br /> <br />The Executive Director or his designee, on <br /> <br />behalf of the Agency, is authorized and directed to take such <br /> <br />steps and execute such documents as are necessary to effect the <br /> <br />transfer of such allocation to the County solely for application <br /> <br />to the issuance of mortgage credit certificates which are to be <br /> <br />used to induce the origination of home mortgage loans to <br /> <br />qualifying persons who will reside within the City and the <br /> <br />county. <br /> <br />section 7. <br /> <br />The Executive Director is authorized to cause <br /> <br />the payment to the County of the Agency's proportionate share of <br /> <br />administrative costs of the Programs referred to in Item 2 above. <br /> <br />section 8. <br /> <br />The officers and employees of the Agency are <br /> <br />authorized and directed, jointly and severally, to do any and all <br /> <br />things necessary or advisable in order to effectuate the purpose <br /> <br />of this resolution of the issuance of the mortgage credit <br /> <br />certificates by the County, and all actions previously taken by <br /> <br />such officers and employees in connection with the application <br /> <br />for the allocation to be requested are ratified and approved. <br /> <br />section 9. <br /> <br />This resolution shall take effect immediately <br /> <br />upon its adoption by the Agency, and the Secretary of the Agency <br />