Resolution Number 96-2-6-3RESOLUTIOP% NO.
CONTINUED PARTICIPATION IN
GE CREDIT
: yPROGRAM(COUNTY•• ORANCZE1
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
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 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 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 home buyers.
PASSED, APPROVED, AND ADOPTED this 6th day of
February , 1996.
ATTEST:
E -c< I� _ 7r ✓ 1 ---
CITY CLERk
1
.( A 1 J )� Q.0
WYATT tT, MAYOR
61'
242
243
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.
96-2-6-3 adopted by the City Council of the City of San Juan Capistrano, California,
at a regular meeting thereof held on the 6th day of February 1996, by the
following vote:
AYES: Council Members Jones, Nash, Swerdlin, Campbell and
Mayor Hart
NOES: None
ABSTAIN: None
ABSENT: None
(SEAL)
CERYL JOHNSON, CITY CLERK
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