HomeMy Public PortalAbout90-003 (01-02-90)RESOLUTION NO. 90 -3
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF LYNWOOD TO AUTHORIZE THE ISSUANCE OF NOTES
FOR A SECTION 108 LOAN, AND AUTHORIZE AND
DIRECT THE CITY MANAGER TO SIGN THE NOTES
WHEREAS, the United States Housing and Community Deveopment
Act of 1974, as amended, established the Community Development Block
Grant (CDBG) program to provide decent housing, a suitable living
environment and expanding economic opportunties, principally for
persons of low and moderate income; and
WHEREAS, the City Council has executed a Grant Agreement
for a Section 108 Loan with the Department of Housing and Urban
Development; and
NOW, THEREFORE, the City Council of the City of Lynwood
does hereby find, determine order and resolve as follows:
SECTION 1. The City Council hereby specifically authorizes
the issuance of Promissory Notes concerning the H.U.D. Section 108
Loan the City is processing.
SECTION 2.
and directed to sign
of obtaining loan
Housing and Communit
SECTION 3.
immediately upon its
The City'Manager or his designee is authorized
the notes and contracts executed for the purpose
guarantee assistance under Section 108 of the
7 Development Act of 1974.
This resolution shall become effective
adoption.
PASSED, APPROVED and ADOPTED this 2nd day of janua ,
1990.
ROBERT.HENNING, r
City of Lynwood
ATTEST:"
ANDREA L. HOOPER, CITY C RK
City of Lynwood
APPROVED ONTENT:
KENRICK KAREFA - JOHNSON, INTERIM
Director of Community Development
' APPROVED AS TO FORM:
CIT TTO
A LF �✓ .�
A FRf TTA EARNEST, ACTING DIRECTOR
Finance Department
STATE OF CALIFORNIA )
ss.
COUNTY OF LOS ANGELES )
I, the undersigned, City Clerk of the City of Lynwood,
do hereby certify that the above and foregoing resolution was
duly adopted by the City Council of said City at a regular
meeting thereof held in the City Hall of said City on the 2nd
day of January, 1990, and passed by the following vote:
AYES: COUNCILMEMBERS HEINE, REA, RICHARDS, WELLS, HENNING
NOES: NONE
ABSENT: NONE
City Clerk
STATE OF CALIFORNIA 1
ss.
COUNTY OF LOS ANGELES )
I, the undersigned City Clerk of the City of Lynwood,
and Clerk of the City Council of said City, do hereby certify that
the above and foregoing is a full, true and correct copy of
Resolution No. 90 -3 on file in my office and that said resolution
was adopted on the date and by the vote therein stated.
Dated this 5th day of January, 1990.
City Clerk