RESOLUTION 2001-07 MINNIE - Laserfiche WebLink

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. . . RESOLUTION NO. 2001-07 RESOLUTION OF THE HOUSING AUTHORITY OF THE CITY OF SANTA ANA AUTHORIZING THE ISSUANCE AND DELIVERY OF MULTIFAMILY HOUSING REVENUE BONDS, AUTHORIZING THE EXECUTION AND DELIVERY OF A FINANCING AGREEMENT AND A REGULATORY AGREEMENT, AND AUTHORIZING THE EXECUTION AND DELIVERY OF AND APPROVING OTHER RELATED DOCUMENTS AND APPROVING OTHER RELATED ACTIONS IN CONNECTION THEREWITH WHEREAS, the Housing Authority of the City of Santa Ana (the "Authority") is authorized by Chapter 1 of Part 2 of Division 24 of the Health and Safety Code of the State of California (the "Act"), to (a) to issue revenue bonds for the purpose of financing the construction, development or rehabilitation of multifamily rental housing; (b) to enter into agreements for the purpose of providing revenues to pay such revenue bonds upon such terms and conditions as the Authority may deem advisable; and (c) to secure the payment of such revenue bonds; and WHEREAS, Orange Housing Development Corporation, a California nonprofit public benefit corporation (the "Borrower") has requested that the Authority issue the revenue bonds described in the following clause (the "Bonds") under the Act for the purpose (hereinafter referred to as the "Program") of financing the Borrower's acquisition, development and rehabilitation of a 110-unit multifamily housing rental project (the "Project") located in the City of Santa Ana, California; and WHEREAS, the City Council of the City of Santa Ana, following a properly noticed public hearing, previously authorized issuance of the Bonds by the Authority, subject to subsequent approval by the Authority of the various documents related to the financing; and WHEREAS, the Borrower has requested that the Authority authorize by resolution (the "Resolution") the issuance and delivery of the Bonds in an aggregate principal amount not to exceed $3,500,000, and designated as the "Housing Authority of the City of Santa Ana Multifamily Housing Revenue Bond (Minnie Street Apartments) 2001 Series Coo; and WHEREAS, the Borrower has requested that the Authority execute and deliver a financing agreement and a regulatory agreement and declaration of restrictive in connection with the issuance and delivery of the Bonds; and WHEREAS, the Authority hereby finds and declares that this resolution is being adopted pursuant to the powers granted by the Act; and WHEREAS, all conditions, things and acts required to exist, to have happened and to have been performed precedent to and in the issuance of the Bonds and the implementation of the Program as contemplated by this resolution and the documents referred to herein exist, have happened and have been performed in due time, form and manner as required by the laws of the State of California, including the Act.