HomeMy WebLinkAboutResolutions - 1989.05.25 - 17071Miscellaneous Resolution # 89140
BY: GOVERNMENT & TRANSPORTATION COMMITTEE-
Richard G. Skarritt, Chairperson
RE: FEDERAL LEGISLATION TO EXTEND THE USE OF MORTGAGE
REVENUE BONDS THROUGH 1992
TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS
Mr. Chairperson, Ladies and Gentlemen:
WHEREAS on April 14, 1988 the Oakland County Board of
Commissioners took a position supporting federal legislation to exend
the Mortgage Revenue Bond program through December 31, 1992; and
WHEREAS legislation addressing this issue was passed by
Congress last year but it allowed only a one-year extension of the
program from December 31, 1988 through December 31, 1989; and
WHEREAS the Mortgage Revenue Bond program since its inception
in the early 1970's has provided funding for the purchase of over
900,000 homes nationally as well as making available a comparably
large number of home improvement and energy conservation loans; and
WHEREAS loans through the Mortgage Revenue Bond program are
targeted to help low and middle income people who would not be able
to obtain financing from private sources ; and
WHEREAS the 1986 Federal Tax Reform Act contained a provision
ending the sale of Mortgage Revenue bonds for housing and home
improvement loans after December 31, 1988 but Congressional support
of the program seems strong as evidenced by the one-year extension
approved last year; and
WHEREAS a three year extension of the Mortgage Revenue bond
program would provide some continuity that would permit better
program planning than can be accomplished on a year-to-year basis.
NOW THEREFORE BE IT RESOLVED that the Oakland County Board
of Commissioners supports federal legislation to extend the Mortgage
Revenue Bond program through December 31, 1992.
BE IT FURTHER RESOLVED that copies of this resolution be sent
to the Michigan Congressional Delegation.
Mr. Chairperson, on behalf of the Government & Transportation
Committee, I move the adoption of the foregoing resolution.
GOVERNMENT & TRANSPORTATION COMMITTEE
May 25, 1989
RESOLUTION # 89140. May 25, 1989
Moved by Skarritt supported by Gosling the resolution be adopted.
AYES: S. Kuhn, Law, McConnell, McCulloch, McPherson, Moffitt, Oaks, Olsen,
Pernick, Price, Rewold, Skarritt, Wolf, Aaron, Bishop, Caddell, Chester, Crake, Ferrens,
Gosling, Hobart, Jensen, Johnson, R. Kuhn. (24)
NAYS: None. (0)
A sufficient majority having voted therefor, the resolution was adopted.
STATE OF MICHIGAN)
COUNTY OF OAKLAND)
I, Lynn D. Allen, Clerk of the County of Oakland and having a seal, do
hereby certify that I have compared the annexed copy of the attached resolution,
adopted by the Oakland County Board of Commissioners at their regular meeting
held on May 25 , I9 89 with the original record thereof now remaining
on file in my office, and that it is a true and correct transcript therefrom,
and of the whole thereof.
In Testimony Whereof, I have hereunto set my hand and affixed ,the seal
of said County at Pontiac,Michigan this 25th d ay o f May , 19E09
LYNN D. ALLEN, County Clerk
Rjgister of Deeds
Deputy Clerk