Laserfiche WebLink
<br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br /> <br />.~...'NU~"-~"" <br /> <br />. <br /> <br />. <br /> <br />RESOLUTION NO. <br /> <br />85-9 <br /> <br />A RESOLUTION OF THE CITY OF SANTA ANA <br />HOUSING AUTHORITY AUTHORIZING THE SALE AND <br />ISSUANCE OF MULTI-FAMILY HOUSING REVENUE <br />BONDS 1985 SERIES A, IN THE APPROXIMATE <br />AGGREGATE AMOUNT OF $2,800,000 <br /> <br />WHEREAS, there is a shortage in the City of Santa Ana (the <br />"City") of decent, safe and sanitary rental housing which is <br />affordable by persons and families of lower income and a <br />consequent need to encourage the construction of rental units <br />affordable by such persons and otherwise to increase the <br />housing supply in the City for such persons; and <br /> <br />WHEREAS, the Authority has determined to engage in a <br />multi-family rental housing revenue bond finance program (the <br />"Program") pursuant to Chapter 1 (commencing with Section <br />34200) of Part 2 of Division 24 of the Health and Safety Code <br />of the State of California for persons and families of lower <br />income, and wishes to issue revenue bonds pursuant to the Act <br />to provide funds for the Program; and <br /> <br />WHEREAS, the City Council has heretofore adopted a <br />resolution declaring its intent to issue bonds for a 70-unit <br />multi-family residential rental project to be constructed by <br />and operated by Pulliam Properties, a California corporation <br />(the "Developer"); and <br /> <br />WHEREAS, such project shall be <br />pursuant to and in accordance with <br />Regulatory Agreement; and <br /> <br />constructed and operated <br />the Financing Agreement and <br /> <br />WHEREAS the City has duly published notices of public <br />hearings regarding the issuance of revenue bonds for the <br />Program in accordance with the requirements of Section l03(k) <br />of the Internal Revenue Code of 1954, as amended; and <br /> <br />WHEREAS, the members of the City Council are the applicable <br />elected representatives to conduct public hearings regarding <br />the issuance of the revenue bonds for the Program; and <br /> <br />WHEREAS, the City Council has conducted public hearings <br />regarding the issuance of the revenue bonds for the Program and <br />determined it to be in the public interest to issue revenue <br />