1977-169RESOLUTION NO. 77R- Whig
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF ANAHEIM APPROVING THE TERMS AND
CONDITIONS OF A CREDIT AGREEMENT WITH
CROCKER NATIONAL BANK AND AUTHORIZING
THE MAYOR AND CITY CLERK TO EXECUTE SAID
AGREEMENT ON BEHALF OF THE CITY OF ANAHEIM
(HOUSING REHABILITATION LOAN PROGRAM)
WHEREAS, on August 22, 1974, Congress passed Public
Law 93 -383, commonly known as the "Housing and Community
Development Act of 1974" (the "Act and
WHEREAS, shortly thereafter in September, 1974, the
Subcommittee on Housing and the Committee on Banking and Currency
of the House of Representatives 93rd Congress Second Session
published a directory of eligible recipients for funds released
under the Act; and
WHEREAS, the City of Anaheim is listed as an eligible
recipient on page 23 of said directory; and
WHEREAS, the City of Anaheim applied for funds to
implement, among other things, a program providing low interest
loans to low and moderate income households for the purpose of
housing rehabilitation, including upgrading substandard housing
units to meet the applicable building codes; and
WHEREAS, the Department of Housing and Urban Development
approved such application on July 1, 1976, and funds in the amount
of $92,000.00 have been allocated for expenditure by the City of
Anaheim for a housing rehabilitation loan program during the
fiscal year of the City commencing July 1, 1976; and
WHEREAS, the City Council finds that it will be in
the best interests of the City of Anaheim to enter into an
agreement with Crocker National Bank whereby the City will
keep loan program funds for the fiscal year of 1976 -1977 on
deposit with said Bank, and Crocker will make up to $155,000.00
in low interest loans to City approved applicants whom said
Bank determines to be creditworthy; and
WHEREAS, an agreement has been prepared the terms
and conditions of which are acceptable to the City Council of
the City of Anaheim.
NOW, THEREFORE, BE IT RESOLVED that the terms and
conditions of said agreement are hereby approved and accepted.
ATTEST:
ROF:sjf
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 Council of the City of Anaheim.
THE FOREGOING RESOLUTION is signed and approved by me
this 15th day of March 1977.
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M 0 OF' T E I CI OF ANAHEIM
STATE OF CALIFORNIA
COUNTY OF ORANGE ss.
CITY OF ANAHEIM
I, LINDA D. ROBERTS, City Clerk of the City of Anaheim, do hereby certify
that the foregoing Resolution No. 77R -169 was introduced and adopted at
a regular meeting provided by law, of the City Council of the City of
Anaheim held on the 15th day of March, 1977, by the following vote of
the members thereof:
AYES: COUNCIL MEMBERS: Kaywood, Seymour, Roth and Thom
NOES: COUNCIL MEMBERS: Kott
ABSENT: COUNCIL MEMBERS: None
AND I FURTHER CERTIFY that the Mayor of the City of Anaheim approved and
signed said Resolution No. 77R -169 on the 15th day of March, 1977.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of
the City of Anaheim this 15th day of March, 1977.
(SEAL)
CITY CLERK OF THE CI OF ANAHEIM
I, LINDA D. ROBERTS, City Clerk of the City of Anaheim, do hereby certify
that the foregoing is the original of Resolution No. 77R -169 duly passed
and adopted by the Anaheim City Council on March 15, 1977.
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CITY CLERK