98-038RESOLUTION NO. 98R-38
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ANAHElM
AUTHORIZING THE REISSUANCE OF TI-[E VARIABLE RATE
DEMAND MULTIFAMILY HOUSING REFUNDING REVENUE BONDS
(HERITAGE VILLAGE APARTMENTS), 1992 SERIES A, ORIGINALLY
ISSUED BY THE ANAHEIM HOUS1NG AUTHORITY FOR THE
HERITAGE VILLAGE APARTMENTS PROJECT OWNED BY
CALMARK HERITAGE PARK 1I LIMITED PARTNERSHIP, A
CALIFORNIA LIMITED PARTNERSHIP, AND CERTAIN OTHER
ACTIONS IN CONNECTION THEREWITH
WHEREAS, the Anaheim Housing Authority (the "Authority") is authorized to issue and has
previously issued its $8,485,000 Variable Rate Demand Multifamily Housing Refunding Revenue
Bonds (Heritage Village Apartments), 1992 Series A (the "Bonds") to finance the acquisition and
development by Calmark Heritage Park II Limited Parmership (formerly Shearson/Calmark Heritage
Park II, Ltd.), a California limited parmership, of a multifamily housing project located in the City of
Anaheim (the "Project") for occupancy by persons of low and moderate income; and
WHEREAS, as a result of certain amendments being made to the terms of the Bonds, the
Bonds are being reissued for federal income tax purposes; and
WHEREAS, pursuant to Section 147(0 of the Internal Revenue Code of 1986, as amended
(the "Code"), the reissuance of the Bonds is required to be approved, following a public heating, by an
elected representative of the issuer of the Bonds and an elected representative of the governmental unit
having jurisdiction over the area in which the Project is located; and
WHEREAS, the Authority is made up of members which have been appointed but not elected
to their positions as Commissioners of the Authority, and the City of Anaheim (the "City") is the next
higher governmental unit with an applicable elected representative from which the Authority derives its
authority; and
WHEREAS, the Project is located wholly within the geographic jurisdiction of the City; and
WHEREAS, this City Council is the elected legislative body of the City; and
WHEREAS, the City has caused a notice to be published in a newspaper of general circulation
in the City, at least two weeks prior to this meeting, to the effect that a public hearing would be held by
this City Council on March 3, 1998 regarding the proposed reissuance of the Bonds by the Authority
and the nature and location of the Project; and
WHEREAS, this City Council has conducted a public hearing on this date, at which time an
opportunity was provided to the public to present arguments both for and against the reissuance of the
Bonds and the nature and location of the Project;
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