Resolution Number 99-1-19-1RESOLUTION NO. 99-1-19-1
CONTINUED PARTICIPATION IN MORTGAGE CREDIT CERTIFICATE PROGRAM
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN JUAN
CAPISTRANO, CALIFORNIA, AUTHORIZING CONTINUED PARTICIPATION
IN MORTGAGE CREDIT CERTIFICATE PROGRAM WITH THE COUNTY OF
ORANGE FOR FIRST TIME HOME BUYERS
WHEREAS, the City of San Juan Capistrano has been invited to continue its
participation with the County of Orange in its Mortgage Credit Certificate Program in order to assist
first time home buyers; 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 home
buyers 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;
and,
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 ofthe 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 home buyers.
PASSED, APPROVED, AND ADOPTED this
January , 1999.
ATTEST:
CITY CLERI
19th
day of
-1-
009
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.
99-1-19-1 adopted by the City Council of the City of San Juan Capistrano, California,
at a regular meeting thereof held on the 19th day of January 1999, by the
following vote:
AYES: Council Members Jones, Swerdlin, Hart, Campbell
and Mayor Greiner
NOES: None
ABSTAIN: None
ABSENT: None
(SEAL)
CHERYL JO O ITY CLERK
-2-