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HomeMy WebLinkAbout1981-184-04.20.1981 • RESOLUTION NO. / 7 (,'1._ / HUD-9307 (l_.-68) RESOLUTION AUTHORIZING THE EXECUTION OF A FINANCING', AGREEMENT WHEREAS, WATERLOO HOUSING AUTHORITY (herein called the "Local Authority") is a public body corporate and politic, duly organized and existing pursuant to the Iowa Law-Rant Housing Lave (herein called "Housing Authorities Law"); and WHEREAS, the Local Authority has entered into an Annual Contributions Contract (which contract or any contract in substitution thereof, together with any supplements thereto or amendments or waivers of any provisions thereof, is herein called the "Contract") with the United States of America (herein called the "Government"), covering the development and operation of a low-rent housing project or projects, as follows: Annual Contributions Contract No. and Date ACC-3047 Soptionbat 6, 1972 WHEREAS, the Contract provides that at any time and frcm time to time the Local Authority may, as approved by the Government, obtain loans from others than the Government, which loans may be evidenced by Project Notes (referred to in the Contract as "Temporary Notes") or Bonds of the Local Authority; and WHEREAS, the Housing Authorities Law authorizes any two or more Housing Authorities to cooperate with one another in the exercise of their powers and for such purpose a Housing Authority may by resolution authorize any other Housing Authority so cooperating with it to act in its behalf with respect to any or all powers; and WHEREAS, the Local Authority desires to cooperate with other Housing Authorities duly organized and existing pursuant to the Housing Authorities Law for the purpose of financing their respective low-rent housing projects undertaken with the financial assistance of the Government; and WHEREAS, such cooperative financing will result in savings and promote economy in the performance of the necessary financing functions of the Local Authority; NOW, THEREFORE, BE IT RESOLVED by the Local Authority as follows: Section 1. The Local Authority hereby authorizes the execution of an agreement providing for cooperative financing between and among those Housing Authorities which may from time to time become parties thereto. For this purpose and pursuant to the agreement, the Local Authority shall cooperate with each other Housing Authority that may become a party to such agreement in the exercise of the appropriate powers for the purpose of collectively financing its rekapective projects and for such purpose hereby prescribes and authorizes Low—Rant Housing Agency or ottuerva. wee (herein called "Issuing Agent") to act in its behalf with • respect to all powers as may be necessary or convenient as fully as it may act in its own name with respect to such powers, except as expressly limited by such agreement. In the exercise of the powers prescribed and authorized in the agreement, the Issuing Agent may delegate any of such powers to its officers and employees as fully as if such powers were exercised solely in its own behalf. The agreement shall be in the form of the "Financing Agreement" which i attached hereto and made a part of this Resolution. pe-r--ef fir-- e .rxe c N .sat 1"l lY aa HUD-9303 NOTICE TO ISSUING AGENT (11-68) TO BECOME PART! TO FINANCING AGREEMENT The undersigned Housing Authority has adopted and accepted the certain Financi terms of that ng Agreement dated between ittt',uury 12 , 19 67' by and and and desires to join in and become a party thereto in described Annual Contributions Contract: respect to the following K0-3047 . September 6 1972 The aforesaid Financing Agreement is incorporated here acceptance of this Notice on behalf in by reference and upon of the Issuing Agent the Housing Authority shall be subject to all the terms thereof as fully as any party thereto. IN WITNESS WHEREOF, the Housing Authority by its proper officers authorized has caused this Notice to be executed in its name and itsth o duly impressed hereon and attested this day of f-! ��, official seal � SEAL «..Ti j oo 11.iSIi G AUTNoRIty ATTEST: MANOR fro km Cal C ark ACCE D LOW-RENT HOUGUIC AGENCY Issuing Agent —'--- By Secretary 233976-P HUD-Wash., D. C.