Resolution 1982-30 - Laserfiche WebLink

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Ch) The Board of County Commissioners of the County has indicated its willingness to accept such delegation and transfer and to finance the Mortgage Loans to provide more adequate residential housing facilities for low- and middle-income families and persons within the County, including the City which is located within the County. Ci) Neither the execution and delivery of this Delegation and Allocation Transfer Agreement, the consummation of the transac- tions contemplated hereby, nor the fulfillment of or compliance with the terms and conditions of this Delegation and 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. Delegation and Transfer by the City. Pursuant to the Allocation Act: Ca) The City delegates to the County the authority to act on its behalf in the issuance of qualified mortgage bonds pursuant to the allocation granted under Section 29-4-805 of the Allocation Act for the period from October 1, 1982 through December 31, 1982 and transfers to the County its allocation under Section 29-4-805 of the Allocation Act for the period from October 1, 1982 through December 31, 1982 to provide more adequate residential housing facil- ities 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. ~ecr~~v~ nants that prior to January 1, 1983 it will not issue any bonds, notes or other securities under the Project Act to finance mortgage loans to provide more adequate residential housing facilities for low- and middle-income families or persons within the City or delegate its authority or transfer its allocation under Section -3-