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Title:
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Resolution declaring the intent of the City and County of San Francisco to reimburse certain expenditures from proceeds of future indebtedness; authorizing the Director of the Mayor’s Office of Housing to submit an application and related documents to the California Debt Limit Allocation Committee to permit the issuance of qualified mortgage Bonds in an amount not to exceed $14,000,000; authorizing the Mayor’s Office of Housing to direct Bank of America National Trust and Savings Association, acting trustee under an existing trust agreement, to hold and deposit in trust an amount not to exceed $70,000; authorizing the Director to certify that the City has on deposit the required amount; authorizing the Mayor’s Office of Housing to pay an amount equal to the deposit to the State of California if the City fails to issue the qualified mortgage Bonds; and authorizing and directing the execution of any documents necessary to implement this Resolution; and ratifying and approving any action heretofore taken in connection with the project and the application.
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