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HomeMy WebLinkAboutRESOLUTIONS-1985-020-R-854/l/85 4/3/85 • IN 20-R-85 A RESOLUTION I 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 WHEREAS, the availability of decent, safe and sanitary housing that most people can.afford is essential to i ii the health and safety of the inhabitants of the City of Evanston, Cook County, Illinois (the "Municipality") and to the financial well-being of the Municipality ; and i WHEREAS, the shortage of such decent, safe and sanitary housing that most people can afford is not transitory j and self -curing and it is necessary that this.Municipality take i all possible action to lower the cost of such housing in order. �I 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 • I Illinois and is therefore authorized to engage in a home I mortgage loan program and to issue its bonds for such purpose; I I� and WHEREAS, it has heretofore been found and it.is hereby determined that it is not feasible for the Municipality �I to .issue its bonds and to engage in a home mortgage loan l li program and that it is in the best interests of the II Municipality to enter into an agreement with the County of I it Cook, State of Illinois (the "County") pursuant to the provisions of Section 10 of Article VII of the 1970 i Constitution of the State of Illinois which authorizes the Municipality to enter into intergovernmental cooperation agreements with other units of government, which agreement will, enable the County of Cook to issue its bonds for housing l ii • • 20-R-85 purposes in accordance with its Constitutional home rule powers and pursuant to the provisions of Section 103A of the Internal 1 Revenue Code of 1954, as amended (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 i allocates to the County all of its 1985 authority to issue "qualified mortgage bonds" (as defined in the Act), - NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF i THE CITY OF EVANSTON, COOK COUNTY, ILLINOIS: SECTION 1: That the City Manager is hereby authorized and directed to sign and the City Clerk is hereby authorized and directed to attest on !11 behalf of the City of Evanston an Agreement with Cook County for the issuance of certain bonds for housing purposes. Said Agreement shall be in substantially the terms and conditions as set forth in Agreement marked Exhibit A which is attached I hereto and incorporated herein be reference. j SECTION 2: The City Manager is hereby author- ized to negotiate any additional terms I� �I for the aforesaid Agreement as shall be determined in the best interests of the City. SECTION 3: That the officials of the City of Evanston are hereby authorized and directed to take all necessary or advisable actions in connection with the execution and implementation of this Agreement in order to facilitate the issuance of such bonds by Cook County. SECTION 4: This Resolution shall be in full force j and effect from and after its passage, japproval, and publication in the manner provided by law. -2- • • • Adcpted: *-I-La F- ATTEST: /y. -�� Ar-;,� City Clerk 1985. Approved: Cl ayor -3— S`. 20-R-85 , 1985.