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04/26/2010 <br />The revenue to be received by the Agency in FY 2009/10 is required for the payment of <br />Agency debt service, Agency administration, and existing programs and projects, andtherefore, it not available to make the entire SERAF payment. <br />Section 2. The Agency has no other funds in its general fund that can be usedtomaketheallocationrequiredbyHealthandSafetyCodeSection33690 (c). <br />Section 3. The Agency hereby finds that no existing executed contracts will be <br />impaired if, in accordance with this resolution, the Agency reduces the amount allocatedtotheLMIHFortheamountofmoneysinthefund, or both. <br />Section 4. The Agency's hereby authorizes a loan of $2,812,838 from theLMIHFforthesolepurposeofmakingtheSERAFpaymentforFY2009/10. The loanshallnotbemadeuntilsuchtimethattheAgencyisrequiredtopaytheSERAF <br />payment into the County of San Mateo SERAF account. <br />Section 5. The Agency hereby declares that the LMIHF funds borrowed <br />pursuant to Section 33690(c) shall be repaid annually in an amount of $562,567.60 totheLMIHF (Fund 806) on or before June 30, 2015. The LMIHF loan shall bear nointerest. If directed by the Executive Director, the loan may be repaid to the LMIHF in <br />part or in full at anytime within the five year period so as long as the total amountborrowedisrepaidbythedeadline. <br />ATTY/RESO.2002 <br />040610 <br />2 RD10-03 <br />MUFF # 404 <br />6.1.D. - Page 22