Resolution 1982-28 - Laserfiche WebLink

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> (i) Neither the ~xecution and delivery of this Allocation Transfer Agreement, the consummation of the transactions contemplated hereby, nor the fulfillment of or compliance with the terms and con- ditions of this Allocation Transfer Agreement conflicts with or results in a breach of any of the terms, conditions or provisions of any legal restriction or any agreement or instrument to which the City or the County is now a party or by which the City or the County is bound, or constitutes a default under any of the foregoing. 2. Transfer by the City. Pursuant to the Allocation Act: (a) The City transfers to the County its allocation under Section 29-4-803 of the Allocation Act to provide more adequate resi- dential housing facilities for low- and middle-income families and persons within the County, including the City which is located within the County, subject to the terms and conditions herein contained. The City covenants that prior to October 1, 1982 it will not issue any bonds, notes or other securities under the Act to finance mort- gage loans to provide more adequate residential housing facilities for low- and middle-income families or persons within the City or transfer its allocation under Section 29-4-803 of the Allocation Act to another governmental unit to finance mortgage loans to provide more adequate residential housing facilities for low- and middle- income families and persons within the City. (b) The City agrees that it will take such further action and adopt such further proceedings as may be required to implement the terms of this Allocation Transfer Agreement. 3. Acceptance of Transfer by the County. Pursuant to the Allocation Act: (a) The County hereby accepts the transfer to it by the City of the allocation of the City under Section 29-4-803 of the Allocation Act, subject to the terms and conditions herein contained. -3-