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-• <br /> ... • <br /> RESOLUTION NO. 123-87 <br /> A RESOLUTION APPROVING AND AUTHORIZING EXECUTION OF A <br /> MEMORANDUM OF UNDERSTANDING CONCERNING THE JOINT <br /> EXERCISE OF POWERS AGREEMENT BETWEEN THE TOWN OF LOS <br /> ALTOS HILLS AND THE COUNTY OF SANTA CLARA RELATING TO THE <br /> COMMUNITY DEVELOPMENT BLOCK GRANT PROGRAM <br /> RESOLVED, by the City Council of the Town of Los Altos Hills, County of <br /> Santa Clara, State of California, that <br /> WHEREAS, the. City Council of the Town of Los Altos Hills (herein called <br /> the "TOWN") has approved entering into of a joint Exercize of Powers <br /> Agreement with the County of Santa Clara wherein TOWN agrees to <br /> participate in the Community Development Block Grant (CBDG) Program <br /> operated by the County of Santa Clara in order to develop a housing <br /> rehabilitation low interest loan program for the TOWN; and <br /> WHEREAS, the City Council has read and considered that certain <br /> Memorandum Of Understanding concerning the Joint Exercize of Powers <br /> Agreement between the TOWN and the County of Santa Clara setting forth the <br /> formula for allocation and distribution of a share of CBDG Program funds to <br /> TOWN, . requiring, the expenditure .thereof for low interest housing <br /> rehabilitation loans to TOWN residents, and specifying the support services to <br /> be provided by the County of Santa Clara, and payment therefor, <br /> NOW, THEREFORE, IT IS FOUND, ORDERED AND DETERMINED as follows: <br /> 1. Public interest and convenience require the entering into of the <br /> above-described Memorandum of Understanding, and the TOWN hereby <br /> approves this Memorandum of Understanding. <br />