HomeMy WebLinkAboutRESOLUTIONS-1982-045-R-829/17/82
45-R-82
A RESOLUTION
Authorizing the City of Evanston to Enter
• 1 into an Agreement with the County of Cook,
.Illinois, with Respect to the Issuance of
Certain Bonds for Housing Purposes by the
County of Cook i
WHEREAS, the availability of decent, safe and sanitary housing
that most people ca►i afford is essential to the health and safety of the in-
habitants of'the City of Evanston, Cook County, Illinois (the "Municipality")
and.to the financial well-being of the Municipality; and
WHEREAS, the shortage of such decent, safe and sanitary housing
that most people can afford is not transitory and self curing and it is
necessary that this Municipality take all possible action to lower the cost
of such housing in order to make it available to a larger portion of the
inhabitants of the Municipality; and
WHEREAS, the Municipality is a "home rule" unit of government under
Article VII of the 1970 Constitution of Illinois and is, therefore authorized
• to engage in a home mortgage loan program and to issue its bonds for such
purpose; and
WHEREAS, it has heretofore been found and it is hereby determi.ned
that it is not feasible for the Municipality to issue its bonds and to engage
in a.home mortgage loan program and that it is in the best interests of the
Municipality to enter into an agreement with the County of Cook, State of
Illinois (the "County") pursuant to the provisions of Section 10 of Article
VII of the 1970 Constitution of the State of Illinois which authorizes the
Municipality to enter into intergovernmental cooperation agreements with
other units0of government, which agreement will enable the County of Cook to
issue its'bonds for housing purposes in accordance with its Constitutional
home rule powers and pursuant to the provisions of the Mortgage Subsidy Bond
Tax Act of 1980 (the "Act"); and
WHEREAS, it is necessary, therefore, for the Municipality, acting
• by its corporate authorities, to approve a form of agreement with the County
whereby the Municipality allocates to the County all of its 1982 authority
to issue "qualified mortgage bonds" (as defined in the Act):
45-R-82
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
EVANSTON, COOK COUNTY, ILLINOIS:
SECTION l.: That the City Manager and Clerk of the Municipality
• are hereby authorized, empowered and directed to enter
into an agreement with the County in substantially the form attached to this
resolution with such changes as shall be approved by the officials of the
Municipality executing the same.
SECTION 2: That the officials of the Municipality are hereby
authorized and directed to take all necessary or
advisable actions in connection with the execution and implementation of the
agreement in order to facilitate the issuance of such bonds by the County.
SECTION 3: This resolution shall be in full force and effect
upon its.passage and approval.
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ATTEST:
14-le
City Clerk
•
Adopted: 1982.
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AGREEMENT
This is an Agreement dated as of,,.1982
between the City of Evanston, Cook County, Illinois (the "Municipality"), i
and the County of Cook, Illinois. The Municipality and the County of j
;i Coo< agree as follows:
Section 1. That the Municipality has the legal authority to
issue "qualified mortgage bonds" as defined in the Mortgage Subsidy
Bond Tax Act of 1980 (the "Act").
Section 2. The Municipality hereby assigns to the County
all of its 1982 authority to issue such bonds and allocates to the
County all of the area located within its jurisdiction for the purpose
of enabling the County to issue its bonds in accord with the Act and
the regulations promulgated thereunder.
Section.3. This Agreement shall be in full force and effect
immediately upon its execution by the parties hereto.
WITNESS the official sigantures of the City Manager and Clerk
of the Municipality and the seal of the Municipality and the official
siganture"*of the Comptroller of,the County of Cook this oeffk day of
i'
it
1982.
CITY OF EVANSTON,
COOK COUNTY, ILLINOIS
(SEAL) By U�
C
ity Manage#-
By��t�-
Cl.erk
J
COUNTY OF COOK, ILLINOIS
r! By
treasurer, County of
Cook, Illinois
STATE OF ILLINOIS ) SS
COUNTY OF COOK )
• I, the undersigned, do hereby certify that I am the duly
qualified and acting Clerk of the City of Evanston, in the County and State
aforesaid, and as such Clerk I am the keeper of the official journal, records
and files of the City Council, Mayor and Aldermen of said City.
I do further certify that the attached and foregoing is'a full,
true and correct copy of Resolution No. 45-R-82 entitled:
"A Resolution authorizing the City of Evanston to
Enter into an Agreement with the County of Cook,
Illinois, with Respect to the Issuance of Certain
Bonds for Housing Purposes by the County of.Cook."
as adopted by the City Council, Mayor.and Aldermen of the City of Evanston,
Cook County, Illinois, at its legally convened meeting held on the a o-fk.
day of Se to e b er` 1982, and s.i gned by the Mayor on the ,�7 t-k
day of �� , 1982, all as appears from the official
records of said City, in my care and custody.
IN WIT14ESS WHEREOF, I have hereunto affixed my official signature
and the corporate -seal of said City.of Evanston, Cook County, Illinois I
this oZhVt. day of� 1982.
City Clerk