AHA-1985-006RESOLUTION NO. AHA85 -6
A RESOLUTION OF INDUCEMENT OF THE ANAHEIM
HOUSING AUTHORITY RELATING TO THE ISSUANCE OF
BONDS FOR THE PURPOSE OF FINANCING THE
ACQUISITION AND CONSTRUCTION OF VARIOUS
MULTI - FAMILY RESIDENTIAL RENTAL PROJECTS AND
RELATED FACILITIES.
WHEREAS, the Anaheim Housing Authority (the "Authority ")
is authorized to issue bonds pursuant to the Anaheim Housing
Authority Multi - Family Rental Housing Bond Law (the "Law ") for the
purpose of providing financing for the acquisition and
construction of multi- family residential rental projects located
within the City of Anaheim; and
WHEREAS, the various property owners and /or developers
listed in Exhibit "A" hereto (collectively, the "Developers ") have
requested the Authority to issue and sell its revenue bonds
pursuant to the procedures specified in the Law for the purpose of
financing the acquisition and construction of certain land and
facilities consisting of multi - family residential rental projects
and underlying land and related and appurtenant facilities located
at the respective addresses set forth in Exhibit " A "
(collectively, the "Projects ") to be acquired and constructed by
the Developers within the City, and the Housing Authority wishes
to induce the Developers to acquire, construct and develop the
Projects in the City; and
WHEREAS, it is in the public interest, for the public
benefit and in furtherance of the public purposes of the Authority
that the Housing Authority authorize the bonds for the aforesaid
purposes.
NOW, THEREFORE, BE IT RESOLVED by the Anaheim Housing
Authority as follows:
Section 1. The Anaheim Housing Authority hereby authorizes
the issuance and sale of the bonds pursuant to California Housing
Authority Law (commencing with Section 34200 of the California
Health and Safety Code) and the procedures specified in the Law in
an aggregate principal amount not to exceed $27,250,000.00 for the
purpose of providing financing for the acquisition, construction
and improvement of the Projects as set forth in Exhibit "A." Such
authorization shall be for the purpose of inducing the Developers
to undertake the Projects and, in particular, to do so at the
aforesaid respective locations.
Section 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 Developers and the purchaser of said Bonds and
shall be authorized by resolution of the Anaheim Housing Authority
at a meeting duly held and conducted for such purpose.
-1-
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 to
accomplish successfully the financing.
Section 4. That the Secretary of the Authority shall
certify to the passage of this resolution by the Anaheim Housing
Authority and it shall thereupon take effect.
THE FOREGOING RESOLUTION is approved and adopted by the
Anaheim Housing Authority this 16th day of April, 1985.
CITAI RMA
ANAHEIM HOUSING AUTHORITY
ATTEST:
SECRETARY
ANAHEIA HOUSING AUTHORITY
MES : fm
3349M
032285
-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. AHA85 -6 was passed and adopted at a
regular meeting of the Anaheim Housing
the Authority
members
thereofthe 16th day of �
April, 1985, by the following vote
AYES: AUTHORITY MEMBERS: Kaywood, Overholt and Roth
NOES: AUTHORITY MEMBERS: None
ABSTAINED: AUTHORITY MEMBERS: Bay
ABSENT: AUTHORITY MEMBERS: Pickler
AND I FURTHER that thethe
l6thidaynoffApril ,A Housing Authority
signed said Re solution on
IN WITNESS WHEREOF, I have hereunto set my hand and seal this 16th day of
April, 1985. 4411� SECRETARY OF THE ANAHEIM HOUS G AUTHORITY
(SEAL)
EXHIBIT "A"
i
Appropriate
Number of
Loan
Developer
Project Location
Units
Amount
1. Western National
Sage Park, Loara St.
100
7,500,000
Anaheim
2. Cal -Mark
Northeast corner
196
X10 1 000 1 000
Santa Ana St. and
Citron St.
3. Western National
2170 South Harbor
130
$ 9,750,000
i