Resolution Number 93-10-19-6RESOLUTION NO. 93-10-19-6
' APPROVAL OF COOPERATIVE AGREEMENT FOR MORTGAGE CREDIT
CERTIFICATE PROGRAM FOR FIRST TIME HOMEBUYERS
(COUNTY OF ORANGE
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN JUAN
CAPISTRANO, CALIFORNIA, APPROVING A COOPERATIVE AGREEMENT
FOR A MORTGAGE CREDIT CERTIFICATE PROGRAM TO ASSIST FIRST
TIME HOMEBUYERS (COUNTY OF ORANGE)
WHEREAS, the applicant, the City of San Juan Capistrano, has been invited to enter into a
cooperative agreement with the County of Orange for a mortgage credit certificate program to assist first time
homebuyers; and,
follows:
WHEREAS, the City Council of the City of San Juan Capistrano finds and determines as
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 administrated 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 a Cooperative Agreement with the County of Orange for a Mortgage Credit
Certificate Program to assist first time home buyers.
PASSED, APPROVED, AND ADOPTED this 19th day of October
W%31
--GIL MAYOR
ATTEST:
CITYCLERKAMMUFM
i
-1-
185
186
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. 93-10-19-6
adopted by the City Council of the City of San Juan Capistrano, California, at a regular meeting thereof held
on the 19th day of October , 1993, by the following vote:
AYES: Council Members Nash, Hausdorfer, Campbell, Vasquez and
Mayor Jones
NOES: None
ABSTAIN: None
ABSENT: None
(SEAL) ������)`�=%�vK/✓/�J��
CHERYL JOH N, OTY CLERK
-2-