APFA 2001-2RESOLUTION NO. APFA 2001-2
RESOLUTION OF THE ANAHEIM PUBLIC FINANCING
AUTHORITY AUTHORIZING THE EXECUTIVE
DIRECTOR OF THE ANAHEIM PUBLIC FINANCING
AUTHORITY TO ISSUE STATEMENTS OF OFFICIAL
1NTENT
WHEREAS, the Anaheim Public Financing Authority, a joint powers
authority by and between the Anaheim Redevelopment Agency and the City of
Anaheim ("Authority"), desires to permit the Anaheim Redevelopment Agency to
implement a housing development program in the City of Anaheim by acquiring
certain land and improvements and selling the assembled land to qualified
housing developers; and
WHEREAS, the Authority issued its 2000 Tax Allocation Revenue Bonds
totaling Thirty One Million Eight Hundred Fifty Thousand Dollars ($31,850,000)
to allow implementation of the housing development program; and
WHEREAS, the 2000 Tax Allocation Revenue Bonds consist of Twelve
Million Eight Hundred Fifty Thousand Dollars ($12,850,000) for qualified tax-
exempt activities and Nineteen Million Dollars ($19,000,000) for qualified
taxable bond activities; and
WHEREAS, the Authority understands that the Anaheim Redevelopment
Agency will be expending proceeds from the 2000 Tax Allocation Revenue
Bonds and other funds for the housing development program; and
WHEREAS, the Authority desires to permit the Anaheim Redevelopment
Agency to reimburse itself for some of the costs of the housing development
program ("Reimbursable Costs") from the proceeds to be received from the sale
of the assembled land ("Sale Proceeds"), in accordance with Treasury Regulation
§ 1.141-4(c)(3)(v); and
WHEREAS, the Anaheim Redevelopment Agency intends to use proceeds
from the taxable portion of the 2000 Tax Allocation Revenue Bonds and other
Anaheim Redevelopment Agency funds to fund housing development program
expenses which will become Reimbursable Costs; and
WHEREAS, the Anaheim Redevelopment Agency certifies that the
sources of the Reimbursable Costs will exclude tax-exempt bond proceeds.
NOW, THEREFORE, THE AUTHORITY DOES HEREBY
RESOLVE, ORDER AND DETERMINE AS FOLLOWS:
SECTION 1. The Executive Director of the Anaheim Public Financing
Authority is hereby authorized to prepare statements of official intent on behalf of
the Authority as deemed necessary to comply with Treasury Regulation § 1.141-
4(c)(3)(v). Such statements shall identify the housing development and the
reasonably expected maximum amount of Reimbursable Costs.
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SECTION 2. The statement(s) of official intent will be adopted no later
than sixty days after the date ("Expenditure Date") that the Anaheim
Redevelopment Agency takes title of the acquired land or expends monies for the
Reimbursable Costs.
SECTION 4. The expected date of reimbursement of the Reimbursable
Costs will be within eighteen months of the later of the Expenditure Date or the
date the housing development is placed in service.
SECTION 5. This resolution is adopted as official action of the Authority
in order to comply with Treasury Regulation {} 1.141-4(c)(3)(v), is part of the
Authority's official proceedings, and will be available for inspection by the
general public at the main administrative office of the Authority.
THE FOREGOING RESOLUTION WAS APPROVED AND ADOPTED
BY THE BOARD OF DIRECTORS OF THE ANAHEIM PUBLIC
FINANCING AUTHORITY THIS EIGHTEENTH (18TH) DAY OF
SEPTEMBER, 2001, BY THE FOLLOWING VOTE:
AYES:
NOES:
ABSENT:
By: ~PUBLIC
FINANCING AUTHORIT~
ATTEST:
'~ECREqARY ~)F THE ANAHEIM
PUBLIC FINANCING AUTHORITY
APPROVED AS TO FORM:
JAC~ City Attorney
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STATE OF CALIFORNIA )
COUNTY Of ORANGE ) ss.
CITY OF ANAHEIM )
I, SHERYLL SCHROEDER, Secretary of the Board of Directors of the Anaheim Public
Financing Authority, do hereby certify that the foregoing Resolution No. APFA2001-2 was
introduced and adopted at a special meeting provided by law, of the Board of Directors of the
Anaheim Public Financing Authority held on the 18th day of September, 2001, by the following
vote of the members thereof:
AYES:
NOES:
ABSENT:
BOARD MEMBERS:
BOARD MEMBERS:
BOARD MEMBERS:
Feldhaus, Kring, Tait, McCracken, Daly
None
None
SECRETARY OF ~I'HE ANAHEIM PUBLIC
FINANCING AUTHORITY
(SEAL)