1985-06 HA - Laserfiche WebLink

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. ... . . . . . 'f . " . . RESOLUTION NO. 85-6 A RESOLUTION OF THE HOUSING AUTHORITY OF THE CITY OF SANTA ANA RELATING TO THE ISSUANCE OF BONDS FOR THE PURPOSE ot FINANCING THE ACQUISITION AND CONSTRUCTION OF VARIOUS MULTI-FAMILY RESIDENTIAL RENTAL PROJECTS AND RELATED FACILITIES WHEREAS, the Housing Authority of the City of Santa Ana (the "Authority.) is authorized to issue bonds pursuant to the provisions of California Health and Safety Code, Division 24, Part 2, Chapter 1 and, in particular, Section 34312.3 of said Code (the "Law.) for the purpose of providing financing for the acquisition, construction and development of multi-family residential rental projects loeated within the Authority¡ WHEREAS, the various property owners and/or developers listed in Exhibit A hereto (collectively, the .Developers.) have requested the Authority to issue and sell its revenue bonds pursuant to the procedures specified in the Law .for the purpose of financing the acquisition and construction of certain land and facilit~es consist- ing of multi-family residential rental projects and underlying land and related and appurtenant facilities located at the respective addresses set forth in Exhibit A (collectively, the .projects.) to bè acquired and constructed by the Developers within the Authority, and the Authority wishes to induce the Developers to acquire, con- struct and develop the projects within the Authority¡ and WHEREAS, it is in the public interest, for the public benefit and in furtherance of the public purposes of the Authority that the Authority authorize the Bonds for the aforesaid purposes¡ NOW, THEREFORE, BE IT RESOLVED by the Housing Authority of the City of Santa Ana, as follows: 1. The Authority hereby authorizes the issuance and sale of the Bonds pursuant to the procedures specified in the Law in and aggregate principal amount not to exceed one-hundred-thirty-three million (133,000,000) for the purpoae of providing financing for the acquisition, construction and ~mprovement of the projects as set forth in Exhibit A. Such authorization shall be for the purpose of inducing the Developers to und&?;take the proj ects and, in particu- lar, to do so at the aforesaid respective locations. 2. The issuance and sale of the Bonds shall be upon such terms and conditions as may be mutually agreed upon by the Author- i ty, the Developers and the purchaser of said Bonds and shall be authorized by resolution of the Authority at a meeting duly held and conducted for such purpose. .~ . , ,lit::,.~ ~".