1313RESOLUTION NO. ~~
A RESOLUTION APPROVING AN AGREEMENT BETWEEN THE ARKANSAS
DEVELOPMENT FINANCE AUTHORITY AND THE CITY OF WEST MEMPHIS,
ARKANSAS, FOR THE USE OF HOME FUNDS IN ACCORDANCE WITH THE
HOME INVESTMENT PARTNERSHIP PROGRAM AND AUTHORIZING THE
MAYOR TO EXECUTE THE AGREEMENT ON BEHALF OF THE CITY.
WHEREAS, the Arkansas Development Finance Authority has
presented the City of West Memphis with a proposed agreement
for the use of HOME funds in accordance with the program
requirements of the HOME Investment Partnership Program as set
forth in 24 CFR, Part 92; and
WHEREAS, the City Council, finds that the benefits provided
through the HOME Investment Partnership Program are in the best
interests of the citizens of West Memphis, Arkansas, and that
the proposed agreement should be approved;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WEST MEMPHIS, ARKANSAS, that the agreement between the
Arkansas Development Finance Authority and the City of West
Memphis, Arkansas, is hereby approved and the Mayor is hereby
authorized and directed to execute said agreement on behalf of
the City of West Memphis, Arkansas.
ADOPTED this 5th day of November, 1992.
TH M. INGRAM, yor
ATTEST : / / //
DAN CRAFT, Cit/~~"ler