2003-146RESOLUTION NO. 2003R-146
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ANAHEIM
APPROVING THE REISSUANCE OF TAX-EXEMPT OBLIGATIONS AND
DIRECTING CERTAIN ACTIONS
WHEREAS, on November 12, 1992, the Anaheim Housing Authority (the "Authority")
issued its $8,485,000 Variable Rate Demand Multifamily Housing Refunding Revenue Bonds
(Heritage Village Apartments), 1992 Series A (the "Bonds") pursuant to the provisions of Article 11
of Chapter 3 of Part 1 of Division 2 of Title 5 of the Government Code of the State of California,
commencing with Section 53580, to provide refinancing for the acquisition and construction of a
multifamily rental housing development comprising 196-units, known as Heritage Village
Apartments (the "Project") and located in the City of Anaheim, California (the "City");
WHEREAS, the Project is presently owned by Calmark Heritage Park II Limited
Partnership, a California limited partnership (the "Developer"); and
WHEREAS, the Developer has requested that a substitute credit facility be provided for the
Bonds and that certain amendments be made to the indenture and other agreements securing the
Bonds, including the extension of the maturity of the Bonds, which amendments will cause the
Bonds to be "reissued" for federal income tax purposes; and
WHEREAS, if the Bonds are reissued, the interest of the Bonds may qualify for tax
exemption under Section 103 of the Internal Revenue Code of 1986, as amended (the "Code"), only
if the Bonds are approved in accordance with Section 147(0 of the Code; and
WHEREAS, the Project is located wholly within the City; and
WHEREAS, the City Council of the City of Anaheim (the "City Council") is the "applicable
elected representative" required to approve the reissuance of the Bonds within the meaning of
Section 147(13 of the Code; and
WHEREAS, pursuant to Section 147(13 of the Code, a notice of public hearing in a
newspaper of general circulation in the City has been published, to the effect that a public hearing
would be held by the City Council on the date hereof regarding the reissuance of the Bonds by the
Authority and the nature and location of the Project; and
WHEREAS, the City Council held such public hearing, at which time an opportunity was
provided to present arguments both for and against the reissuance of such Bonds and the nature and
location of the Project;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Anaheim, as
follows:
Section 1.
and correct.
The City Council hereby finds and declares that the above recitals are true
Section 2. This City Council hereby approves the reissuance of the Bonds by the
Authority. It is the purpose and intent of this City Council that this Resolution constitute approval of
the reissuance of the Bonds by the applicable elected representative of the issuer of the Bonds and the
applicable elected representative of the governmental unit having jurisdiction over the area in which
the Project is located, in accordance with Section 147(f) of the Code. The adoption of this resolution
shall not obligate the Authority, without further formal action to be taken by the Authority, including,
but not limited to the approval of the financing documents by the Authority.
Section 3. This resolution shall take effect immediately upon its adoption.
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DOCSOC\975646v2X22620.0026
PASSED AND ADOPTED this 8th day of July 2003.
ATTEST:
(~i~y Clerk 6"f the City of Anaheim
APPROVED AS TO FORM:
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DOCSOC\975646v2L22620.0026
STATE OF CALIFORNIA )
COUNTY OF ORANGE )
CITY OF ANAHEIM )
I, SHERYLL SCHROEDER, City Clerk of the City of Anaheim, do hereby certify that the
foregoing Resolution No. ].46 was passed and adopted at the meeting of the City of Anaheim held
on the 8th day of July, 2003, by the following vote of the members thereof:
AYES: Mayor Pringle, Council M~mbers Tait, Chavez, Hernandez
NOES: None
ABSENT: Council Nea-aber iqc'Cracken
AND I FURTHER CERTIFY that the Mayor of the City of Anaheim signed said Resolution
No. 146 on the 8th day of July, 2003.
2003.
IN WITNESS WHEREOF, I have hereunto set my hand and seal this 9th day of July,
Ci4'y of Anaheim
(SEAL)
DOCSOCA975646v2k22620.0026
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