Laserfiche WebLink
RESOLUTION NO. HA 2003-04 <br /> <br />RESOLUTION OF THE HOUSING AUTHORITY OF THE <br />CITY OF SANTA ANA AUTHORIZING THE ISSUANCE <br />AND DELIVERY OF MULTIFAMILY HOUSING REVENUE <br />BONDS, AUTHORIZING THE EXECUTION AND <br />DELIVERY OF A PLEDGE AND ASSIGNMENT, AN <br />AGENCY AGREEMENT AND A REGULATORY <br />AGREEMENT, AND AUTHORIZING THE EXECUTION AND <br />DELIVERY OF AND APPROVING OTHER RELATED <br />DOCUMENTS AND APPROVING OTHER RELATED <br />ACTIONS IN CONNECTION THEREWITH <br /> <br />10/7/03LES <br /> <br /> BE IT RESOLVED BY THE HOUSING AUTHORITY OF THE CITY OF SANTA <br />ANA, AS FOLLOWS: <br /> <br /> Section 1: The Board of the Housing Authority of the City of Santa Ana hereby <br />finds, determines and declares as follows: <br /> <br />The Housing Authority of the City of Santa Ana (the "Authority") is <br />authorized by Chapter 1 of Part 2 of Division 24 of the Health and Safety <br />Code of the State of California (the "Act"), to (a) to issue revenue bonds <br />for the purpose of financing the construction, development or <br />rehabilitation of multifamily rental housing; (b) to enter into agreements for <br />the purpose of providing revenues to pay such revenue bonds upon such <br />terms and conditions as the Authority may deem advisable; and (c) to <br />secure the payment of such revenue bonds. <br /> <br />Orange Housing Development Corporation, a California nonprofit public <br />benefit corporation (the "Borrower") has requested that the Authority issue <br />the revenue bonds described in the following clause (the "Bonds") under <br />the Act for the purpose (hereinafter referred to as the "Program") of <br />financing the Borrower's acquisition, development and rehabilitation of an <br />89-unit multifamily housing rental project (the "Project") located in the City <br />of Santa Ana, California. <br /> <br />The City Council of the City of Santa Ana, following a properly noticed <br />public hearing, previously authorized issuance of the Bonds by the <br />Authority, subject to subsequent approval by the Authority of the various <br />documents related to the financing. <br /> <br />The Borrower has requested that the Authority authorize by resolution (the <br />"Resolution") the issuance and delivery of the Bonds in an aggregate <br />principal amount not to exceed $5,100,000, and designated as the <br />"Housing Authority of the City of Santa Ana Multifamily Housing Revenue <br />Bond (Santiago Villas Apartments) 2003 Series A". <br /> <br />Resolution No. HA 2003-04 <br /> Page 1 of 4 <br /> <br /> <br />