Laserfiche WebLink
<br />8 <br /> <br />8 <br /> <br />8 <br /> <br />RESOLUTION NO. 2001-03 <br /> <br />RESOLUTION OF THE HOUSING AUTHORITY OF THE CITY <br />OF SANTA ANA AUTHORIZING THE ISSUANCE, SALE AND <br />DELIVERY OF MULTIFAMILY HOUSING REVENUE BONDS, <br />AUTHORIZING THE EXECUTION AND DELIVERY OF A <br />FINANCING AGREEMENT AND A REGULATORY <br />AGREEMENT, AND AUTHORIZING THE EXECUTION AND <br />DELIVERY OF AND APPROVING OTHER RELATED <br />DOCUMENTS AND APPROVING OTHER RELATED ACTIONS <br />IN CONNECTION THEREWITH <br /> <br />BE IT RESOLVED by the Housing Authority of the City of Santa Ana as <br /> <br />follows: <br /> <br />Section 1, The Housing Authority of the City of Santa Ana hereby finds, <br />determines and declares that the following findings are true and correct: <br /> <br />A. The Housing Authority of the City of Santa Ana (the <br />"Authority") is 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 the purpose <br />of financing the construction, development or rehabilitation of multifamily rental <br />housing; (b) to enter into agreements for the purpose of providing revenues to pay such <br />revenue bonds upon such terms and conditions as the Authority may deem advisable; <br />and (c) to secure the payment of such revenue bonds, <br /> <br />B, Wakeham-Grant Apartments, L.P., a California limited <br />partnership (the "Borrower") has requested that the Authority issue the bonds described <br />in the following clause (the "Bonds") under the Act for the purpose (hereinafter referred <br />to as the "Program") of financing the Borrower's acquisition, development and <br />rehabilitation of a 127-unit multifamily housing rental project (the "Project") located in <br />the City of Santa Ana, California, <br /> <br />C. The Bonds to be issued, in an aggregate principal amount <br />not to exceed $8,155,000, shall be named the "Housing Authority of the City of Santa <br />Ana Multifamily Housing Revenue Bond (Cornerstone Village Apartments) 2001 Series <br />B" (the "Bonds"), <br /> <br />D, The Bonds will be issued in the form of a single Bond and <br />will be purchased by Washington Mutual Bank, FA. <br /> <br />E. On March 5, 2001, the City Council of the City of Santa Ana, <br />following a properly noticed public hearing, authorized issuance of the Bonds by the <br />Authority, subject to subsequent approval by the Authority of the various documents <br />related to the financing. <br />