Resolution Number 97-1-21-1Ml
RESOLUTION NO. 97-1-21-1
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A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN JUAN
CAPISTRANO, CALIFORNIA, APPROVING THE CITY'S CONTINUED
PARTICIPATION IN THE 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 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; 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 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 21st day of
January 1997.
DAVID M. SWERDLIN, MAYOR
ATTEST:
CITY CLE
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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.
97-1-21-1 adopted by the City Council of the City of San Juan Capistrano, California,
at a regular meeting thereof held on the 21st day of January 1997, by the
following vote:
AYES: Council Members Jones, Greiner, Hart, Campbell
and Mayor Swerdlin
NOES: None
ABSTAIN: None
ABSENT: None
(SEAL)
CHERYL JOHN N, TY CLERK
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