HomeMy WebLinkAbout1986-01 HA
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RESOLUTION NO.
86-1
A RESOLUTION OF THE HOUSING AUTHORITY OF THE
CITY OF SANTA ANA RELATING TO THE ISSUANCE
OF BONDS FOR THE PURPOSE OF FINANCING THE ACQUISITION
AND CONSTRUCTION OF VARIOUS MULTI-FAMILY RESIDENTIAL
RENTAL PROJECTS AND RELATED FACILITIES
WHEREAS, the Housing Authority of the City of
Santa Ana (the "Authority") is authorized to issue bonds
pursuant to the provisions of California Health and Safety
Code, Division 24, Part 2, Chapter 1 and, in particular,
Section 34312.3 of said Code (the "Law") for the purpose of
providing financing for the acquisition, construction and
development of multi-family residential rental projects
located within the Authority;
WHEREAS, the various property owners and/or developers
listed in Exhibit A hereto (collectively, the "Developers")
have requested the Authority to issue and sell its revenue
bonds pursuant to the procedures specified in the Law for
the purpose of financing the acquisition and construction of
certain land and facilities consisting of multi-family
residential rental projects and underlying land and related
and appurtenant facilities located at the respective addresses
set forth in Exhibit A (collectively, the "Projects") to be
acquired and constructed by the Developers within the Authority,
and the Authority wishes to induce the Developers to acquire,
construct and develop the Projects within the Authority; and
WHEREAS, it is in the public interest, for the
public benefit and in furtherance of the public purposes of
the Authority that the Authority authorize the Bonds for the
aforesaid purposes;
NOW, THEREFORE, BE IT RESOLVED by the Housing
Authority of the City of Santa Ana, as follows:
1. The Authority hereby authorized the issuance
and sale of the Bonds pursuant to the procedures specified
in the Law in and aggregate principal amount not to exceed
$3,000,000.00 for the purposes of providing financing for
the acquisition, construction and improvement of the Projects
as set forth in Exhibit A. Such authorization shall be for
the purposed of inducing the Developers to undertake the
Projects and, in particular, to do so at the aforesaid
respective locations.
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Resolution 86-1
2. The issuance and sale of the Bonds shall be
upon such terms and conditions as may be mutually agreed
upon by the Authority, the Developers and the purchased of
said Bonds and shall be authorized by resolution of the
Authority at a meeting duly held and conducted for such
purpose.
3. The proceeds of the bonds shall include such
related and necessary issuance expenses, administrative
costs, debt service reserves and interest payments as may be
required to accomplish successfully the financing.
Bonds
34292
4. The Authority declares the issuance of the
to be an emergency matter within the meaning of Section
of the California Health and Safety Code.
ADOPTED, this "Ircì
1986, by the following vote:
day of
Fphrn"ry
,
AYES:
MEMBERS:
Griset, Johnson, Luxembourger, Hart
McGuigan, Young, Acosta
7
NOES:
MEMBERS:
ABSENT:
MEMBERS:
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CHAIRMAN
A"'ESÇl¡jf;;~
Executive Director of
Housing Authority
APPROVED AS TO FORM:
Authority
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