Resolution Number 87-1-6-4133
RESOLUTION NO. 87-1-6-4
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN
CAPISTRANO, CALIFORNIA, AUTHORIZING THE SUBMITTAL OF
A LOAN APPLICATION, THE INCURRING OF AN INDEBTEDNESS,
THE EXECUTION OF A STANDARD AGREEMENT AND ANY
AMENDMENTS THERETO, A PROMISSORY NOTE, AND ANY
OTHER DOCUMENTS NECESSARY TO SECURE A MOBILE HOME
PARK ASSISTANCE PROGRAM LOAN FROM THE CALIFORNIA
DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT
(RANCHO DEL AVION MOBILE HOME PARK)
WHEREAS, the Rancho Del Avion Homeowners' Trust (hereinafter referred
to as the "Resident Organization") is a legal entity established under the laws of
California and impowered to own property, borrow money, and give security for loans;
and,
WHEREAS, the California Department of Housing and Community
Development (hereinafter referred to as the "Department") is authorized to make
loans for the purpose of financing mobile home park conversion costs and to reduce
the monthly housing costs for low-income residents to an affordable level; and,
WHEREAS, the Resident Organization wishes to obtain from the
Department, a loan or a commitment of funds for loans for the purpose of financing
the costs of converting a mobile home park to resident ownership and reducing the
monthly housing costs for low-income residents to an affordable level.
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of
San Juan Capistrano, that the Resident Organization as a co -applicant with the City
of San Juan Capistrano, shall submit to the Department an application for a Mobile
Home Park Assistance Program loan or commitment of funds for a mobile home park
conversion project located at 32742 Alipaz Street, San Juan Capistrano. If the
application is approved, the Resident Organization is hereby authorized to incur
indebtedness or accept a commitment of funds on behalf of the mobile home park
residents in an amount not exceeding the amount approved by the Department and to
enter into a standard agreement with the Department for the purposes set forth in the
loan application and approved by the Department. It also may give a promissory note,
and execute security and other instruments necessary or required by the Department
to evidence and secure the indebtedness. The Resident Organization is further
authorized to request amendments, including increases in loan amounts or fund
commitments up to amounts approved by the Department and to execute any and all
documents required by the Department to evidence and secure these amendments.
The Resident Organization authorizes Audrey Copeland to execute in the name of the
Resident Organization, the loan application, the standard agreement, promissory note,
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134nd security and other instruments necessary or required by the Department for the
making and securing of the loan, and any amendments thereto.
PASSED, APPROVED, AND ADOPTED this
of January ,1987.
ATTEST:
ITY CLER
6th
v KENNETH E. FRIESS, MAYOR
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF SAN JUAN CAPISTRANO )
day
I, MARY ANN HANOVER, 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. 87-1-6-4 adopted by the City Council of the City of San Juan
Capistrano, California, at a regular meeting thereof held on the 6th day
Of— January , 1987, by the following vote:
AYES: Councilmen Schwartze, Bland, and Mayor Friess
NOES: None
ABSENT: Councilmen Buchheim and Hansdorfer
(SEAL)
MARY ANN H
OVER CITY CLERK
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