AHA-1987-01899999.99 JHFi W:PJT :ct '"4/87 J3945
RESOLUTION NO. AHA87 -18
A RESOLUTION OF THE ANAHEIM HOUSING AUTHORITY
AUTHORIZING THE ISSUANCE OF REVENUE BONDS FOR THE PURPOSE
OF PROVIDING FINANCING FOR MULTIFAMILY RENTAL HOUSING
DEVELOPMENT BY BELAGE MANOR LTD.
WHEREAS, the Anaheim Housing Authority (the "Authority ") is authorized by
Chapter 1 (commencing with Section 34200) of Part 2 of Division 24 of the Health and
Safety Code of the State of California, as amended (the "Act "), to issue and sell revenue
bonds for the purpose of providing financing for the construction and development of
multifamily rental housing facilities located within the jurisdiction of the Authority; and
WHEREAS, Belage Manor Ltd., A California Limited Partnership (the "Company "),
has applied to the Authority to issue and sell revenue bonds for the purpose of providing
financing for the acquisition of land and construction thereon of an approximately 180 -unit
rental housing development to be located within the jurisdiction of the Authority at 1660-
1664 W. Broadway in the City of Anaheim (the "Project "); and
WHEREAS, the Authority wishes to induce the Developer (as defined below) to
acquire and construct the Project and, in particular, to do so at such location; and
WHEREAS, it is in the public interest, for the public benefit and in furtherance of the
public purposes of the Authority that the Authority authorize revenue bonds for the
aforesaid purposes;
NOW, THEREFORE, BE IT RESOLVED by the Anaheim Housing Authority, as
follows:
Sec ti o n 1. The Anaheim Housing Authority hereby authorizes the issuance and
sale of bonds (the "Bonds ") of the Authority pursuant to the Act in a principal amount of
not to exceed Ten Million Dollars ($10,000,000) for the purpose of providing construction
and permanent financing to the Company or its successors and assigns, (the
"Developer "), for the acquisition, construction and development of the Project.
S ection 2. The issuance and sale of the Bonds shall be upon such terms and
conditions as may be mutually agreed upon by the Authority, the Developer and the
purchaser of the Bonds and subject to completion of proceedings for the issuance, sale
and delivery of the Bonds by the Authority.
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 successfully to accomplish the financing of the Project.
Section 4 . The Authority hereby' finds that the issuance of the Bonds is a
substantial inducement to the Developer to acquire, construct and d_ evelop the Project and
that the Project will further the public purposes of the Authority.
Section 5. The Developer shall be responsible for the payment of all costs in
connection with the issuance of the Bonds, including but not limited to printing of any
official statement, rating agency costs, bond counsel fees and expenses, underwriting
discount and costs, trustee fees and expenses, and the cost of printing the Bonds.
Section 6 . The law firm of Jones Hall Hill & White, A Professional Law Corporation
is hereby named as bond counsel to the Authority for the Bonds. The fees and expenses
of bond counsel in connection with the issuance of the Bonds are to be paid solely from
the proceeds of the Bonds or directly by the Developer.
vote:
PASSED AND ADOPTED this 29't hday of DecemUer , 1987, by the following
AYES:
NOES:
ABSENT:
Chairman
Attest:
Secretary
-2-
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. AHA87 -18 was passed and adopted at a
regular meeting of the Anaheim Housing Authority held on the 29th day of
December, 1987, by the following vote of the members thereof:
AYES: AUTHORITY MEMBERS: Hunter, Kaywood, Pickler, Ehrle and Bay
NOES: AUTHORITY MEMBERS: None
ABSENT: AUTHORITY MEMBERS: None
AND 1 FURTHER CERTIFY that the Chairman of the Anaheim Housing Authority
signed said Resolution on the 29th day of December, 1987.
IN WITNESS WHEREOF, I have hereunto set my hand and seal this 29th day of
December, 1987.
SECRETARY OF THE ANAHEIM HOUSING AUTHORITY
;SEAL)
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