RESOLUTION NO. _____________
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BOARD OF SUPERVISORS, COUNTY OF SAN MATEO, STATE OF CALIFORNIA
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ADOPT A RESOLUTION AUTHORIZING EXECUTION OF AN AMENDMENT TO THE JOINT POWERS AGREEMENT FOR THE HOUSING ENDOWMENT AND REGIONAL TRUST OF SAN MATEO COUNTY (HEART) TO: CHANGE THE OFFICIAL NAME OF THE JOINT POWERS AGREEMENT FROM THE “HOUSING ENDOWMENT AND TRUST” (HEAT) TO “HOUSING ENDOWMENT AND REGIONAL TRUST” (HEART); INCORPORATE CERTAIN TECHNICAL LANGUAGE NECESSARY TO FACILITATE APPLICATION FOR 501(C)(3) TAX-EXEMPT STATUS WITH THE INTERNAL REVENUE SERVICE; CLARIFY THAT HEART’S ROLE IS TO FACILITATE HOUSING PROGRAMS AND PRODUCTION, AND NOT TO REGULATE OR GOVERN HOUSING ACTIVITIES; CLARIFY THAT HEART WILL TAKE ON DEBT ONLY IF IT IS SECURED BY A DEDICATED FUNDING SOURCE OR OTHER SECURITY, SUCH AS REAL PROPERTY
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RESOLVED, by the Board of Supervisors of the County of San Mateo, State of California, that
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WHEREAS, pursuant to Government Code, Section 31000, County may contract with independent contractors for the furnishing of special services to or for County or any Department thereof; and
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WHEREAS, the parties entered into a Joint Exercise of Powers Agreement which established the Housing Endowment and Trust of San Mateo County on May 13, 2003; and
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WHEREAS, on May 13, 2003, the Board of Supervisors approved the Joint Exercise of Powers Agreement; and
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WHEREAS, there has been presented to this Board of Supervisors for its consideration and acceptance, a First Amendment to a Joint Exercise of Powers Agreement for Housing Endowment and Regional Trust of San Mateo County, reference to which is hereby made for further particulars, and the Board of Supervisors has examined and approved the same as to form and content and desires to enter into the same.
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NOW, THEREFORE, IT IS HEREBY RESOLVED that the President of this Board of Supervisors be, and is hereby authorized and directed to execute said Amendment to Agreement for and on behalf of the County of San Mateo, and the Clerk of this Board shall attest the President’s signature thereto.
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