RES-2012-106 RESOLUTION NO. 2012 -106
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF ANAHEIM PURSUANT TO SECTION 147(1) OF THE
INTERNAL REVENUE CODE OF 1986 APPROVING THE
ISSUANCE OF BONDS BY THE ANAHEIM HOUSING
AUTHORITY FOR THE ANTON MONACO APARTMENTS
WHEREAS; the Anaheim Housing Authority (the "Authority ") intends to issue
not to exceed $46,630,000 aggregate principal amount of multifamily housing revenue bonds
(the "Bonds ") to finance the acquisition, construction and equipping of a 232 -unit multifamily
rental housing development known generally as "Anton Monaco," located at 1881 West Lincoln,
in the City of Anaheim described in the notice of public hearing attached as Exhibit A hereto (the
"Project "); and
WHEREAS, in order for interest on the Bonds to be tax - exempt, Section 147(f) of
the Internal Revenue Code of 1986 requires that the Bonds be approved by the City Council as
the applicable elected representatives after a public hearing following reasonable public notice;
and
WHEREAS, notice of a public hearing with respect to the proposed issuance of
the Bonds was published in a newspaper of general circulation in the City on August 6, 2012;
and
WHEREAS, the public hearing was held on August 21, 2012, and an opportunity
was provided for interested persons to express their views on the issuance of the Bonds and on
the nature and location of the Project.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF ANAHEIM DOES
HEREBY RESOLVE AS FOLLOWS:
Section 1. The City does not warrant the creditworthiness of the Bonds or
guarantee, in any way, the payment of the Bonds. No moneys of the City will be pledged or
applied to the repayment of the Bonds.
Section 2. This City Council, as the applicable elected representatives under
Section 147(f) of the Code, approves the issuance of the Bonds by the Authority.
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THE FOREGOING RESOLUTION IS PASSED, APPROVED AND ADOPTED
BY THE CITY COUNCIL OF THE CITY OF ANAHEIM THIS 21st DAY
OF AUGUST, 2012, . BY THE FOLLOWING ROLL -CALL VOTE:
AYES: Council Members Sidhu, Galloway, Eastman and Murray
NOES: None
ABSTAIN: Mayor Tait
ABSENT: None
CITY OF ANAHEIM
MAYOR OF THE CITY OF ANAHEIM
ATTEST:
111P AD
CITY CLERK OF THE CITY OF AHEIM
90966
2
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EXHIBIT "A"
NOTICE OF PUBLIC HEARING
NOTICE IS HEREBY GIVEN that, in accordance with Section 147(f) of the
Internal Revenue Code of 1986, the City Council of the City of Anaheim will hold a public
hearing on Tuesday, August 21, 2012, at the hour of 5:30 p.m., or as soon thereafter as the matter
may be heard, in the City Council Chambers, 200 South Anaheim Boulevard, Anaheim,
California 92802, with respect to the proposed issuance by the Anaheim Housing Authority of its
multifamily housing revenue bonds in an aggregate principal amount not to exceed $46,630,000,
in order to finance the acquisition, construction and equipping of the multifamily rental housing
project described below (the "Project "):
Name: Anton Monaco Apartments
Location: 1881 West Lincoln, Anaheim, CA
Number of Units: 232
Maximum Bond Amount: $46,630,000
The owner or operator of the Project will be Anton Monaco Anaheim L.P., a California
limited partnership (the "Owner "), or an affiliate thereof. At least 20% of the units in the Project
are to be income and rent restricted and shall be occupied by very low- income tenants at
affordable rents. In the alternative, at least 40% of the units in the Project are to be income and
rent restricted and shall be occupied by low - income tenants at affordable rents.
Notice is further given that at said hearing, all interested parties will have an opportunity
to be heard on the question of whether or not such multifamily housing revenue bonds should be
issued. If you have any questions regarding the public hearing, please contact Sergio Ramirez,
Project Manager, Anaheim Housing Authority, (714) 765 -4318.
BY ORDER OF THE CITY COUNCIL
OF THE CITY OF ANAHEIM
CITY CLERK
Publish: August 6, 2012
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