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<br />SWC:sh 3/14/85 <br /> <br />ORIGINAL <br /> <br />RES 0 L UTI 0 N <br /> <br />N O. <br /> <br />9832 <br /> <br />MAR 1 8 1985 <br /> <br />RESOLUTION APPROVING AND AUTHORIZING EXECUTION OF <br />MODIFICATION TO AGREEMENT WITH CALIFORNIA HOUSING <br />FINANCE AGENCY RELATING TO MULTIFAMILY REHABILITATION <br />AND INFILL NEW CONSTRUCTION PROGRAM <br /> <br />WHEREAS, pursuant to Resolution No. 9711, adopted October <br /> <br />15, 1984, this Council approved and authorized execution of an <br /> <br />agreement between the City of Redwood City and the California <br /> <br />Housing Finance Agency, pursuant to which agreement the City <br /> <br />could access the proceeds of bonds to finance certain housing <br /> <br />projects in the City: and <br /> <br />WHEREAS, the bond issue, previously anticipated to be <br /> <br />concluded by December 17, 1984, was postponed, and is estimated <br /> <br />to occur on March 28, 1985; and <br /> <br />WHEREAS, this Council desires to access such bond funds as <br /> <br />will be sold at such later date, and to enter into a modification <br /> <br />agreement to reflect said desire; <br /> <br />NOW, THEREFORE: <br /> <br />BE IT RESOLVED BY THE COUNCIL OF THE CITY OF REDWOOD CITY, <br /> <br />AS FOLLOWS: <br /> <br />1. <br /> <br />This <br /> <br />Council does <br /> <br />hereby approve <br /> <br />and authorize <br /> <br />execution of that document entitled "Commitment Agreement <br /> <br />Modification", a copy of which modification is attached hereto as <br /> <br />Exhibit <br /> <br />"A" <br /> <br />and incorporated herein by reference, <br /> <br />which <br /> <br />modification amends that certain agreement heretofore entered <br /> <br />into between the California Housing Finance Agency and the City <br /> <br />of Redwood City entitled "California Housing Finance Agency - <br /> <br />Multifamily Rehabilitation and Infill New Construction Program - <br /> <br />98~32 <br />