2001-162RESOLUTION NO. 2001R-162
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ANAHEIM AUTHORIZING THE ISSUANCE, SALE AND DELIVERY
OF MULTIFAMILY HOUSING REVENUE BONDS FOR A
MULTIFAMILY HOUSING PROJECT AND CERTAIN OTHER
ACTIONS IN CONNECTION THEREWITH
WHEREAS, the Anaheim Housing Authority (the "Authority") is authorized to issue and
has expressed its intent to issue bonds (the "Bonds") in the principal amount not to exceed $5.4
million to finance the acquisition and rehabilitation ora 65-unit multifamily housing project known
as "Westchester Apartments" located at 125 Westchester Avenue (the "Project") to be owned by
BDP Westchester, LLC, a California limited liability company, or its affiliates or assigns; and
WHEREAS, at least 20 pement of the units in the Project will be for occupancy by persons
of very low income; and
WHEREAS, pursuant to Section 147(0 of the Internal Revenue Code of 1986, as amended
(the "Code"), prior to their issuance, 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 Project is located; and
WHEREAS, the Authority is made up of members who have been appointed but not elected
to their positions as Board 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 June 19, 2001, regarding the issuance of the Bonds by the
Authority and the nature and location of the Project; and
WHEREAS, this City Council has conducted a public hearing on this date, at which time an
opportunity was provided to the public to present arguments both for and against the issuance of the
Bonds and the nature and location of the Project;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF ANAHEIM DOES
HEREBY RESOLVE, ORDER AND DETERMINE AS FOLLOWS:
I. The above recitals, and each of them, are true and correct.
DOCSOC~825182v 1\22620.0017
2. Pursuant to Section 147(1) of the Code, this City Council hereby approves the
issuance of the Bonds by the Authority to provide financing for the Project. It is the purpose and
intent of this City Council that this resolution constitute approval of the issuance of the Bonds by the
applicable elected representative of the governmental unit having jurisdiction over the area in which
the Project is located, all in accordance with Section 147(1), and for no other purpose.
3. This Resolution shall take effect immediately upon its adoption.
PASSED, APPROVED AND ADOPTED, this 19th day of June, 2001.
CITY OF ANAHEIM
ATTEST:
~ .o'2;r:."Oit~Clerk - .
APPROVED AS TO FORM:
STRADLING YOCCA CARLSON & RAUTH,
as Bond Counsel
By:
DOCSOC\825182 v I \22620.0017
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss.
CITY OF ANAHEIM )
I, SHERYLL SCHROEDER, City Clerk of the City of Anaheim, do hereby certify that the foregoing
Resolution No. 2001R-162 was introduced and adopted at a regular meeting provided by law, of
the Anaheim City Council held on the 19th day of June, 2001, by the following vote of the
members thereof:
AYES:
MAYOR/COUNCIL MEMBERS: Feldhaus, Kring, Tait, McCracken, Daly
NOES:
MAYOR/COUNCIL MEMBERS: None
ABSENT:
MAYOR/COUNCIL MEMBERS: None
,A'(-~':J/T CiT~/(~I-ERK OF THE CITY OF ANAHEIM
(SEAL)