AHA-2000-007RESOLUTION NO. ~,[~A 2000-7
A RESOLUTION OF THE ANAHEIM HOUSING AUTHORITY APPROVING AND
AUTHORIZING THE EXECUTION AND DELIVERY OF A FIRST SUPPLEMENTAL
TRUST INDENTURE AND FIRST AMENDMENT TO FINANCING AGREEMENT
RELATING TO MULTIFAMILY HOUSING REVENUE BONDS FOR PARK VISTA
APARTMENTS
WHEREAS, Chapter 1 of Part 2 of Division 24 of the Health and Safety Code of the
State of California (the "Act") authorizes housing authorities to incur indebtedness to finance the
acquisition and rehabilitation of multifamily rental housing for persons and families of very Iow
and Iow income; and
WHEREAS, on July 24, 2000 the Anaheim Housing Authority (the "Authority") issued its
$27,180,000 Anaheim Housing Authority Multifamily Housing Revenue Bonds (Park Vista
Apartments) 2000 Series D (the "Bonds") pursuant to the Act and a Trust indenture, dated as of
July 1, 2000 (the "Indenture"), between the Authority and Wells Fargo Bank, National
Association, as trustee (the "Trustee"); and
WHEREAS, the proceeds of the Bonds were used to make a loan (the "Loan") to Park
Vista, Ltd., a California limited partnership (the "Owner") pursuant to a Financing Agreement,
dated as of July 1, 2000 (the "Financing Agreement"), among the Authority, the Trustee and the
Owner, to provide for the financing of the acquisition and rehabilitation by the Owner of Park
Vista Apartments (the "Project"); and
WHEREAS, the Owner expects to obtain a letter of credit from Comerica Bank-California
(the "Bank") that is necessary to allow the proceeds of the Loan to be used for the financing of
the Project, and, in connection with the provision of the letter of credit, the Owner and the Bank
have requested that certain changes be made to the Indenture and the Financing Agreement;
and
WHEREAS, there have been prepared a First Supplemental Trust indenture and a First
Amendment to Financing Agreement (collectively, the "Amending Agreements") which set forth
the changes requested by the Owner and the Bank, the forms of which are on file with the
Secretary; and
WHEREAS, the Authority desires that the acquisition and rehabilitation of the Project
proceed as soon as practicable, and to that end desires to approve and authorize the execution
and delivery by the Authority of the Amending Agreements.
NOW, THEREFORE, THE ANAHEIM HOUSING AUTHORITY DOES HEREBY
RESOLVE, ORDER AND DETERMINE AS FOLLOWS:
SECTION 1. The Authority hereby finds and declares that the above recitals are true
and correct.
SECTION 2. The Amending Agreements, in the respective forms presented to this
meeting, are hereby approved. The Executive Director is hereby authorized and directed to
execute and deliver the Amending Agreements in said forms, with such additions thereto or
changes therein as are recommended or approved by the Executive Director of the Authority
upon consultation with Special Counsel and Bond Counsel, the approval of such changes to be
conclusively evidenced by the execution and delivery of the Amending Agreements by the
Authority.
SECTION 3. All actions heretofore taken by the officers and agents of the Authority with
respect to the Indenture, the Financing Agreement, the Bonds, the Loan and the Amending
Agreements are hereby approved, confirmed and ratified, and the proper officers of the
Authority are hereby authorized and directed, for and in the name and on behalf of the Authority,
to do any and all things and take any and all actions and execute any and all certificates,
agreements and other documents, which they, or any of them, may deem necessary or
advisable in order to consummate the transactions contemplated by the Indenture, the
Financing Agreement and the Amending Agreements.
SECTION 4. This Resolution shall take effect immediately upon its adoption.
PASSED, APPROVED AND ADOPTED, this 24~h day of October, 2000.
ANAHEIM HOUSING AUTHORITY
APPROVED AS TO FORM:
QUINT & THIMMIG LLP,
as Bond Counsel
By:
Chairman
J. Thimmig, Esq.
-2-
STATE OF CALIFORNIA )
COUNTY OF ORANGE )
CITY OF ANAHEIM )
I, SHERYLL SCHROEDER, Secretary of the Anaheim Housing Authority, do hereby certify that
the foregoing Resolution No. AHA2000-7 was passed and adopted at a regular meeting of the
Anaheim Housing Authority held on the 24th day of October, 2000 by the following vote of the
members thereof:
AYES: CHAIRMAN/AUTHORITY MEMBERS: Feldhaus, Kring, Tait, McCracken, Daly
NOES: CHAIRMAN/AUTHORITY MEMBERS: None
ABSENT: CHAIRMAN/AUTHORITY MEMBERS: None
IN WITNESS WHEREOF, I have hereunto set my hand and seal this 24th day of October, 2000.
SECRETARY THE ANAHEIM HOUSING AUTHORITY
(SEAL)