HomeMy WebLinkAbout86-114RESOLUTION 86:114
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA ANA
APPROVING ISSUANCE OF NOT TO EXCEED $8,400,000 PRINCIPAL AMOUNT
OF HOUSING AUTHORITY OF THE CITY OF SANTA ANA, CALIFORNIA
VARIABLE RATE DEMAND MULTIFAMILY HOUSING REVENUE BONDS
(VINTAGE APARTMENTS PROJECT), 1986 SERIES A
WHEREAS, the city Council of the City of Santa Aha has
heretofore called and conducted a public hearing on the issuance
by the Authority of the Bonds for the purpose of financing the
Project as required by Section 147(f) of the Internal Revenue
Code of 1986; and
WHEREAS, the City Council of the city of Santa Ana
approves of said transaction as in the public interest of the
city of Santa Aha;
NOW, THEREFORE, BE IT RESOLVED by the City Council of
the city of Santa Ana as follows:
1. Findings and Declarations. The City Council of
the city of Santa Aha hereby finds and declares that the
financing of the Project from the proceeds of the Bonds as
herein described serves the public purposes of assisting persons
and families of iow and moderate income within the City of Santa
Aha to afford the costs of decent, safe and sanitary housing.
2. Approval of Issuance of Bonds. The City Council
of the City of Santa Aha hereby approves the issuance of the
bonds by the Housing Authority of the city of Santa Aha as
hereinabove contemplated and approves the transfer of the
private activity bond allocation for the project to said
Authority.
3. Effective Date. This resolution shall take
effect from and after its adoption.
Resolution 86:114
Page 2
ADOPTED, this 15th day of
the following vote:
December , 1986 by
AYES:
NOES:
MEMBERS: Acosta, Griset, Hart, May, McGuigan,
Pulido, Young
MEMBERS: None
ABSENT:
MEMBERS: None
ATTEST:
Patricia A. McGuigan~ ViSe-Mayor
APPROVED AS TO FORM
City Attorney