Laserfiche WebLink
RESOLUTION NO. 2009-003 <br />RESOLUTION OF THE HOUSING AUTHORITY OF THE CITY OF SANTA <br />ANA AUTHORIZING THE ISSUANCE AND DELIVERY OF MULTIFAMILY <br />HOUSING REVENUE BONDS IN AN AGGREGATE PRINCIPAL AMOUNT <br />NOT TO EXCEED $4,500,000 FOR THE FINANCING OF TWO <br />MULTIFAMILY RENTAL HOUSING PROJECTS GENERALLY KNOWN AS <br />THE LACY APARTMENTS AND THE RAITT APARTMENTS; <br />DETERMINING AND PRESCRIBING CERTAIN MATTERS AND <br />APPROVING AND AUTHORIZING THE EXECUTION OF AND DELIVERY <br />OF VARIOUS DOCUMENTS RELATED THERETO; RATIFYING ANY <br />ACTION HERETOFORE TAKEN AND APPROVING RELATED MATTERS <br />IN CONNECTION WITH THE BONDS <br />BE IT RESOLVED BY THE MEMBERS OF THE HOUSING AUTHORITY <br />OF THE CITY OF SANTA ANA, AS FOLLOWS: <br />Section 1. The Housing Authority of the City of Santa Ana conclusively <br />finds, determines and declares as follows: <br />A. 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 for <br />the purpose of financing the acquisition, construction/rehabilitation and <br />development 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 />B. Lacy & Raitt, L.P., a California limited partnership (the "Borrower") has <br />requested that the Authority issue multifamily housing revenue bonds (the <br />"Bonds') under the Act for the purpose of financing the Borrower's <br />acquisition and rehabilitation of a 27-unit multifamily housing rental project <br />located at 703 N. Lacy Street and a 10-unit multifamily housing rental <br />project, which will be re-configured to become an eight (8) unit project, <br />located at 702 S. Raitt Street (collectively, the "Project"), each in the City of <br />Santa Ana, California (hereinafter referred to as the "Program"). <br />C. The City Council of the City of Santa Ana, following a properly noticed <br />public hearing, previously authorized issuance of the Bonds by the Authority, <br />subject to subsequent approval by the Authority of the various documents <br />related to the financing. <br />D. The Borrower has requested that the Authority authorize by resolution <br />(the "Resolution") the issuance and delivery of revenue bonds, in series, in <br />an aggregate principal amount not to exceed $4,500,000 and designated as <br />the "Housing Authority of the City of Santa Ana Multifamily Housing <br />Revenue Bond (Lacy/Raitt Apartments) 2009 Series A°. <br />HA Resolution No. 2009-003 <br />Page 1 of 4 <br />