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Home My WebLink About1978-R-06RESOLUTION NO. 78-R- ~ A Resolution Approving Claysburg II T~wers WHEREAS, a shortage of decedent, safe and sanitary housing for persons and families of low income exists in Jeffersonville, Indiana (the "Locality"); WHEREAS, it is proposed that a multifamily housing project, designated as "Claysburg II Towers," be constructed in the Locality (the "Project") to consist of approximately 228 dwelling units intended for occupancy by persons and families of low income; WHEREAS, Jeffersonville Housing,Inc. (the "Corporation") a nonprofit corporation, has been created to provide construction and permanent mortgage f~nancing for the project by the issuance of its bonds; WHEREAS, Section ll(b) of the United States Housing Act of 1937 provides for financial assistance with respect to housing for persons and families of low income by authorizing an exemption from federal income taxation for interest paid on bonds issued by certain entities, such as the Corporation, to assist in the financing of such housing, and Section ll(b) further authorizes an exemption from such taxation for the income derived by such entities from such housing; WHEREAS, in order to obtain such assistance of the federal governm~Kt, it is necessary for the Housing Authority of the City of Jeffersonville, Indiana (the "Public Body"), to make certain deter- minations and enter into certain agreements with respect to the Project and the Corporation; and WHEREAS, in order for the Public Body to make such agreements and enter into such agreements, it is necessary for the governing body which activated the Public Body to approve the project; NOW THEREFORE, BE IT RESOLVED by the Common Council of the City of Jeffersonville, Indiana, that the Project is hereby approved. Adopted by the Common Council of the City of Jeffersonville, Indiana, this /~ day of ~L ...... , 1978. /'~ Presented by me as Clerk-Treasurer to the Mayor of City of Jeffersonville, this /~ day of ~//~ ,~L, 1978. Approved and signed by me this //~ day of ,~/~./A~~--~-~ , 1978.