98-239RESOLUTION NO. 98R-239
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ANAHEIM
AUTHORIZING THE ISSUANCE, SALE AND DELIVERY OF
MULTIFAMILY HOUSING REVENUE REFUNDING BONDS BY THE
ANAHEIM HOUSING AUTHORITY TO REFINANCE A MULTIFAMILY
HOUSING PROJECT TO BE OWNED BY HARBOR CLIFF
APARTMENTS, LLC, A CALIFORNIA LIMITED LIABILITY
COMPANY, AND CERTAIN OTHER ACTIONS IN CONNECTION
THEREWITH
WHEREAS, the Anaheim Housing Authority (the "Authority") is authorized to issue and has
previously issued its $7,400,000 Variable Rate Demand Multifamily Housing Revenue Bonds, 1985
Series A (Harbor Cliff Project) (the "Prior Bonds"), to finance the acquisition and construction of a
multifamily housing project located in the City of Anaheim (the "Project") for occupancy by persons
and families of low income; and
WHEREAS, the current owners of the Project, have requested that the Authority issue bonds
to refund the Prior Bonds in order to extend the term of the tax-exempt financing for the Project; and
WHEREAS, the Authority has determined it to be in furtherance of the public interest to
issue Anaheim Housing Authority Multifamily Housing Revenue Refunding Bonds (Harbor Cliff
Project), 1998 Series B, in the principal amount of $7,400,000 (the "Bonds"), for the purpose of
refunding the Prior Bonds; and
WHEREAS, pursuant to Section 147(f) of the Code, the Bonds are required to be approved,
following a public hearing, 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 Projects are
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 October 27, 1998 regarding the issuance of the Bonds by the
Authority and the nature and location of the Project; and
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