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<br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />RESOLUTION 86-12 <br /> <br />A RESOLUTION OF THE HOUSING AUTHORITY OF THE <br />CITY OF SANTA ANA APPROVING DOCUMENTS; <br />APPOINTING A TRUSTEE AND AUTHORIZING THE SALE OF <br />ITS MULTIFAMILY HOUSIHG RBVBNUE BONDS AND MAKING <br />CERTAIN FINDINGS IN CORNECTJ:ON WITH THE ISSUANCE <br />OF SAID BONDS (VINTAGE APARTMENTS PROJECT) <br /> <br />WHEREAS, there is a shortage in the city of Santa Ana <br />(the "city") of decent, safe and sapitary housing which is <br />I!.ffordable by persons of low or.mo<lerate income and a consequent <br />need to encourage the construction of rental units affordable by <br />such persons and otherwise to increase the housing supply in the <br />City for such persons; and <br /> <br />WHEREAS, the Housing Authority of the city of Santa Ana <br />(the "Authority") is authorized pursuant to Chapter 1 <br />(commencing with Section 34200) of Part 2 of Division 24 of the <br />California Health and Safety Code (the "Act") to provide <br />assistance in financing multif-.ily residential rental housing <br />developments within the City; and <br /> <br />WHEREAS, the city council of the City of Santa Ana (the <br />"city Council") has duly caused to. be published a notice of a <br />public hearing regarding the issuaÞOe of revenue bonds by the <br />Authority for the Project in accordançe with the requireaents of <br />Section 147(f) of the Internal Revenue COde of 1954, as amended, <br />which notice set 3:00 p.II., on Dec8llber 15, 1986, and the Santa <br />Ana city Council Chambers as the time and place for said <br />hearing; and <br /> <br />WHEREAS, the members of the City Council are the <br />applicable elected representatives to conduct a public hearing <br />regarding the issuance of revenue bonds by the Authority for the <br />Project; and <br /> <br />WHEREAS, the City Council on this date has conducted a <br />public hearing regarding the issuance of revenUe bonds by the <br />Authority for the Project and hasðeterained it to be in the <br />public interest to issue bonds, ~e prooeeds of which will be <br />used to make a loan to the Developer, all in furtherance of the <br />purposes of the Act; and <br /> <br />WHEREAS, all acts, conditions and things required by <br />the Act, and by all other laws of the State of California, to <br />exist, to have happened and to have been performed precedent to <br />and in connection with the issuance of the aforesaid revenue <br />bonds exist, have happened, and have been performed in regular <br />and due time, form and manner as required by law, and the <br />Authority is now duly authorized and 8IIIpowered, pursuant to each <br />and every requir8lllent of law, to issue such revenue bonds for <br />the purpose, in the manner and upon the terms herein provided; <br />and <br /> <br />WHEREAS, all acts, conditions and things required by <br />