AHA-1986-012RESOLUTION NO. AHA86 -12
A RESOLUTION OF INDUCEMENT OF THE ANAHEIM HOUSING AUTHORITY
RELATING TO THE ISSUANCE OF BONDS FOR THE PURPOSE OF FINANCING THE
ACQUISITION AND REHABILITATION OF A MULTIFAMILY RESIDENTIAL RENTAL
PROJECT AND RELATED FACILITIES
WHEREAS, the Anaheim Housing Authority (the "Authority ") is
authorized to issue bonds pursuant to Section 34350 et seq. of the Health and
Safety Code of the State of California (the "Law ") for the purpose of
providing financing for the acquisition and rehabilitation of multifamily
residential rental projects located within the area of operation of the
Authority; and
WHEREAS, Chevy Chase Anaheim Partners, a California Limited
Partnership of which Carl N. Karcher and Terrance Barry are the general
partners (the "Developer ") has requested the Authority to issue and sell its
revenue bonds pursuant to the procedures specified in the Law for the purpose
of financing the acquisition of land and rehabilitation thereon of a
multifamily residential rental project and related and appurtenant facilities
located on an approximately 19 acre site bounded on the North by California
State Route 91, on the South by Romneya Drive, on the East by Manzanita Park
and on the West by Patrick Henry School, in the City of Anaheim, consisting of
approximately 400 units, known as Park Vista Apartments (the "Project ") to be
acquired and constructed by the Developer, and the Authority wishes to induce
the Developer to acquire and rehabilitate the Project; at the aforesaid
location; and
WHEREAS, it is in the public interest, for the public benefit and
in furtherance of the public purposes of the Authority and that the Authority
authorize the issuance of its bonds for the aforesaid purposes;
NOW, THEREFORE, the members of the Anaheim Housing Authority
resolve as follows:
Section 1. The Authority hereby authorizes the issuance and sale
of the bonds pursuant to the Law in an aggregate principal amount not to
exceed $30,000,000 for the purpose of providing financing for the acquisition,
rehabilitation and improvement of the Project. Such authorization shall be
for the purpose of inducing the Developer to undertake the Project and, in
particular, to do so at the aforesaid location.
Section 2. The issuance and sale of such bonds shall be upon such
terms and conditions as may be mutually agreed upon by the Authority, the
Developers and the purchaser of the bonds and shall be authorized by
resolution of the Authority at a meeting duly held and conducted for such
purpose.
Section 3. The proceeds of the bonds shall include such related
and necessary issuance expenses, administrative costs, debt service reserves
and interest payments as may be required to accomplish successfully the
financing.
Section 4. That the Secretary of the Authority shall certify to
the passage of this resolution by the Authority and it shall thereupon take
effect.
THE FOREGOING RESOLUTION is approved and adopted by the members of
the Anaheim Housing Authority this 2nd day of December, 1986.
Al
CHAIRMAN PRO T
Secretary
0828N
STATE OF CALIFORNIA )
COUNTY OF ORANGE )
CITY OF ANAHEIM )
I, LEONORA N. SOHL, Secretary of the Anaheim Housing Authority, do hereby
certify that the foregoing Resolution No. AHA86 -12 was passed and adopted at a
regular meeting of the Anaheim Housing Authority held on the 2nd day of
December, 1986, by the following vote of the members thereof:
AYES: AUTHORITY MEMBERS: Roth, Pickler, Hunter and Kaywood
NOES: AUTHORITY MEMBERS: None
ABSENT: AUTHORITY MEMBERS: Bay
AND I FURTHER CERTIFY that the Chairman of the Anaheim Housing Authority
signed said Resolution on the 2nd day of December, 1986.
IN WITNESS WHEREOF, I have hereunto set my hand and seal this 2nd day of
December, 1986.
SECRETARY OF THE ANAHEIM HOUSING AUTHORITY
(SEAL)