AHA-1989-016 RESOLUTION NO. AHA89-16
. A RESOLUTION OF THE ANAHEIM HOUSING AUTHORITY
APPROVING THE TRANSFER OF THE
HARBOR CLIFF PROJECT, AND AUTHORIZING AND
DIRECTING THE EXECUTION AND DELIVERY OF AN
ASSUMPTION AGREEMENT AND DIRECTING RELATED
ACTIONS IN CONNECTION THEREWITH
WHEREAS, the. Anaheim Housing Authority (the ,Authority ) has issued its
Variable Rate Demand Multifamily Housing Revenue Bonds 1985 Series A (Harbor Cliff
Project) in the aggregate principal amount of $7,400,000 (the "Bonds") pursuant to an
Indenture of Trust, dated as of July 1, 1985, from the Authority to Seattle-First National
Bank, as Trustee (the "Trustee"); and
WHEREAS, Harbor Cliff, a California general partnership (the "Original
Developer"), the developer of the project financed with the proceeds of the Bonds
commonly known as the Harbor Cliff Project (the "Project"), has notified the Authority
that pursuant to the Regulatory Agreement, dated as of July 1, 1985 by and among the
Authority, the Trustee and the Original Developer (the "Regulatory Agreement"), the
Original Developer intends to transfer ownership of the Project; and
WHEREAS, Section 11 of the Regulatory Agreement provides that the Project
may be transferred upon obtaining the prior written consent of the Authority and the
Trustee and meeting certain other requirements; and
WHEREAS, the Trustee will consent to the transfer of the Project by execution of
the Assumption Agreement (as hereinafter defined); and
WHEREAS, the Authority has reviewed the qualifications of Damm Partnership, a
California limited partnership, the developer to whom the Original Developer intends to
transfer the Project (the "Assuming Developer") and has reviewed the operation of the
Project; and
WHEREAS, an Assumption Agreement, dated as December 1, 1989, by and
among the Authority, the Trustee, the Original Developer and the Assuming Developer
(the "Assumption Agreement") has been delivered to the Authority for its approval, which
Agreement meets the requirements of the Regulatory Agreement;
NOW, THEREFORE, BE IT RESOLVED BY THE THE ANAHEIM HOUSING
AUTHORITY AS FOLLOWS:
SECTION 1. Consent. The Authority hereby consents to the transfer of the
Project by the Original Developer to the Assuming Developer pursuant to and upon
meeting the requirements of the Regulatory Agreement.
SECTION 2. Assumption Agreement. The Authority hereby approves and
authorizes the execution and delivery of the Assumption Agreement, in substantially the
form on file with the Secretary of the Authority together with any additions thereto or
changes therein deemed necessary or advisable by the Chairman of the Authority (the
"Chairman"). The Chairman or such other person designated by the Authority, are
hereby authorized and directed to execute and deliver to the Trustee, the Original
Developer and the Assuming Developer for and in the name of the Authority, the
Assumption Agreement.
SECTION 3. Official Action. The Chairman, any and all other officials of the
Authority or such other person designated by the Authority are hereby directed, for and
on behalf of the Authority, to do any and all things and take any and all actions,
including, without limitation, the execution and delivery of any and all amendments or
supplements to the documents executed and delivered by the Authority in connection
with the issuance of the Bonds, any and all assignments, certificates, agreements,
notices, consents, instruments of conveyance and other documents, which they, or any of
them, on the advice of counsel to the Authority, may deem necessary or advisable in
• order to effect the transfer of the Project and execution and delivery of the Assumption
Agreement, as provided herein.
PASSED and ADOPTED this 12th day of December, 1989, by the following
vote: -
AXES: Daly, Kaywood, Pickier, Hunter
-•
NOES:
ABSENT:
Ehrle
- - ,
ABSTAIN:
-ATTEST:-
. f ,
•
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Secretary
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_ —
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. AHA89-16 was passed and adopted at a
regular meeting of the Anaheim Housing Authority held on the 12th day of
December, 1989, by the following vote of the members thereof:
AYES: AUTHORITY MEMBERS: Daly, Kaywood, Pickler and Hunter
NOES: AUTHORITY MEMBERS: None
ABSENT: AUTHORITY MEMBERS: Ehrle
AND I FURTHER CERTIFY that the Chairman of the Anaheim Housing Authority
signed said Resolution on the 13th day of December, 1989.
IN WITNESS WHEREOF, I have hereunto set my hand and seal this 13th day of m
December, 1989.
>.-1?-14_41A.Gt /2( ---'
SECRETARY OF THE ANAHEIM HOUSING AUTHORITY
(SEAL)
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