1990-004-Authorizing The Submittal Of An Application For California Natural Disaster Assistance Program Funds And Secure A Commitment Of Funds From The California Department Of Housing And Community DevelopmentRESOLUTION 1990 - 4
RESOLUTION OF THE TOWN OF LOS GATOS
AUTHORIZING THE SUBMITTAL OF AN APPLICATION FOR
CALIFORNIA NATURAL DISASTER ASSISTANCE PROGRAM FUNDS
AND SECURE A COMMITMENT OF FUNDS FROM THE
CALIFORNIA DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT
WHEREAS, Town of Los Gatos, a California municipality
organized and operated under the Constitution and laws of the State
of California wishes to receive a commitment of funds and
participate in the California Natural Disaster Assistance Program
(CALDAP) for the purpose of rehabilitating residential structures
damaged or destroyed in the October 17, 1989, earthquake and
subsequent aftershocks;
WHEREAS, the California Department of Housing and
Community Development (hereinafter referred to as the 11DEPARTMENT ")
is authorized to make funds available for deferred payment loans
for the purpose of financing housing rehabilitation or
reconstruction, and;
WHEREAS, the Town of Los Gatos wishes to obtain from the
DEPARTMENT, a commitment of funds for the purpose of providing
deferred payment loans to finance housing rehabilitation costs for
eligible borrowers under a local housing rehabilitation program and
providing for an administrative fee payable to the Local Agency for
such services:
NOW, THEREFORE, BE IT RESOLVED THAT the Town Council of
the Town of Los Gatos hereby authorizes the Town Manager to:
1. Submit to the DEPARTMENT an application for
participation in CALDAP and to request a commitment
of funds for the purpose of providing deferred
payment loans and related administrative fees to
finance housing rehabilitation costs for eligible
borrowers under the Town's HCD Program.
2. If the application is approved, the Town Manager is
hereby authorized to enter into a standard agreement
with the DEPARTMENT for the purposes set forth in
the loan application and approved by the DEPARTMENT.
She may also execute other instruments necessary or
required by the DEPARTMENT for participation in
CALDAP.
3. The Town Manager is further authorized to request
amendments, including increases in fund commitments
up to the maximum amounts approved by the DEPARTMENT
and to execute any and all documents required by the
DEPARTMENT to evidence and secure these amendments.
4. The Town Manager will execute in the name of the
Town of Los Gatos, the loan application, the
standard agreement, and other documents necessary
or required by the DEPARTMENT for the participation
in the CALDAP, and any amendments thereto.
PASSED AND ADOPTED at a regular meeting of the Town
Council of the Town of Los Gatos, California, held on the 2nd day
of January, 1990, by the following vote:
AYES: COUNCIL MEMBERS Joanne Benjamin,
Robert L. Hamilton
Brent N. Ventura,
Mayor Thomas J. Ferrito
NAYES: COUNCIL MEMBERS NONE
ABSENT: COUNCIL MEMBERS Eric D. Carlson
ABSTAIN: COUNCIL MEMBERS NONE
SIGNED
YOR OF TH O�
CLERK OF THE TOWN OF LOS GATOS j
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OF LOS GATOS