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90-100 ESTABLISHING A QUALIFIED MORTGAGE CREDIT CERTIFICATE PROGRAM
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90-100 ESTABLISHING A QUALIFIED MORTGAGE CREDIT CERTIFICATE PROGRAM
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8/23/2016 11:21:15 AM
Creation date
8/23/2016 11:21:14 AM
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Resolution/Ordinance
Res Ord Num
90-100
Res Ord Title
ESTABLISHING A QUALIFIED MORTGAGE CREDIT CERTIFICATE PROGRAM PURSUANT TO THE AUTHORITY OF SECTION 25 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED...
Approved Date
9/4/1990
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approved in all respects. The amount of Qualified Mortgage Bonds _ <br /> elected not to be issued shall be $15 ,000 , 000 or such lesser <br /> amosnt as is approved by the Office of the Governor and as is set <br /> forth in the Election to be executed by the Mayor of the <br /> Municipality, his execution thereof to constitute conclusive <br /> evidence of his and the City Council ' s approval of such lesser <br /> amount. The Mayor of the Municipality is hereby authorized to <br /> execute, deliver and file the Election on behalf of and as the <br /> act and deed of the Municipality, such Election to be in <br /> substantially the form before this meeting and hereby approved, <br /> or with such changes therein as shall be approved by the Mayor of <br /> the Municipality, his execution thereof to constitute conclusive <br /> evidence of his approval of any and all changes therein from the <br /> form of the Election before this meeting. The Municipality <br /> hereby reserves its right to revoke the Election, in whole or in <br /> part, during 1990, but such revocation shall be limited to that <br /> portion of its allocation not theretofore used to issue <br /> Certificates . <br /> Section 10. Public Notice. Public notice of the eli- <br /> gibility requirements for the Certificates and the method of <br /> Certificate issuance shall be published once in a newspaper of <br /> general circulation in the Municipality. <br /> Section 11 . Volume Cap. Pursuant to Ordinance No. 90- <br /> 76, passed by the Municipality on July 2, 1990, the Mayor and <br /> other officials of the Issuer have taken such actions as are <br /> -9- <br />
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