78-304RESOLUTION NO. 78R- 304
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF ANAHEIM APPROVING THE TERMS AND CONDITIONS
OF AN AGREEMENT WITH SECURITY PACIFIC NATIONAL
BANK ESTABLISHING THE METHODS AND PROCEDURES
FOR RATES TO BE CHARGED FOR TITLE I LOANS
UNDER THE LOCALITIES COMMUNITY DEVELOPMENT
BLOCK GRANT PROGRAM, AND AUTHORIZING THE
MAYOR AND CITY CLERK TO EXECUTE SAID AGREE-
MENT.
WHEREAS, the City Council did by Resolution No. 77R -829
dated December 27, 1977, authorize the City of Anaheim to parti-
cipate in a housing program to assist low and moderate income per-
sons; and
WHEREAS, the City Council has this day approved an
Agreement with Security Pacific National Bank to implement this
low and moderate income loan program; and
WHEREAS, a need exists to establish the methods and
procedures for fixing rates to be charged for said loans; and
WHEREAS, an Agreement has been prepared which estab-
lishes such methods and procedures; and
WHEREAS, the terms and conditions of said Agreement are
satisfactory to the City.
NOW, THEREFORE, BE IT RESOLVED by the City Council of
the City of Anaheim that the Agreement between the City and
Security Pacific National Bank establishing the methods and pro -
cedures for rates to charged for Title I Loans under the Locali-
ties Community Development Block Grant Program be, and the same
is hereby, approved.
BE IT FURTHER RESOLVED that the Mayor and City Clerk
be, and they are hereby, authorized and directed to execute said
Agreement on behalf of the City of Anaheim.
THE FOREGOING RESOLUTION is approved and adopted by the
City Council of the City of Anaheim this 16th
y c'7ay, 1978.
ATTEST:
CITY CLERK OF THt CITY OF ANAHEIM
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