Resolution Number 00-4-4-11:4*%Ito] Ire] 1►[9�
PARTICIPATION IN MORTGAGE CREDIT CERTIFICATE PROGRAM
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN JUAN
CAPISTRANO, CALIFORNIA, AUTHORIZING CONTINUED
PARTICIPATION IN THE MORTGAGE CREDIT CERTIFICATE PROGRAM
WITH THE COUNTY OF ORANGE FOR FIRST-TIME HOME BUYERS
(COUNTY OF ORANGE)
WHEREAS, the City of San Juan Capistrano has been invited to continue its
participation with the County of Orange in its Mortgage Certificate Program in order to
assist first-time homebuyers; and,
WHEREAS, the City Council of the City of San Juan Capistrano finds and
determines as follows:
1. The proposed Mortgage Credit Certificate Program will assist first-time
homebuyers by providing a 20% Federal tax credit. This tax credit will increase a
certificate holder's spendable income (take home pay) thereby increasing their ability to
afford a mortgage payment;
2. The proposed program will be administered by the County at no cost
to the City of San Juan Capistrano.
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of
San Juan Capistrano does hereby approve the City's continued participation with the
County of Orange for a Mortgage Credit Certificate Program to assist first-time
homebuyers.
PASSED, APPROVED, AND ADOPTED this 4th day of April, 2000.
ATTEST:
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219
220
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF SAN JUAN CAPISTRANO )
I, CHERYL JOHNSON, City Clerk of the City of San Juan Capistrano,
California, DO HEREBY CERTIFY that the foregoing is a true and correct copy of
Resolution No. 00-4-4-1 adopted by the City Council of the City of San
Juan Capistrano, California, at a regular meeting thereof held on the 4th day of
April , 2000, by the following vote:
AYES: Council Members Bathgate, Greiner, Hart, Swerdlin
and Mayor Campbell
NOES: None
ABSTAIN: None
ABSENT: None
(SEAL)
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