HomeMy WebLinkAbout1997-11-25 - RESOLUTIONS - HOUSING REVENUE BONDS (2)RESOLUTION NO. 97-138
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF SANTA CLARITA, CALIFORNIA
APPROVING THE ISSUANCE OF NOT TO EXCEED
$17,000,000 AGGREGATE PRINCIPAL AMOUNT
OF MULTI -FAMILY HOUSING REVENUE BONDS
WHEREAS, the California Statewide Communities Development Authority (the "Issuer") has
proposed to issue an amount not to exceed $17,000,000 in aggregate principal amount of
Multi -family Housing Reverue Bonds (the "Bonds") pursuant to the Joint Powers Act, being
Section 6500 et. seq. of the Government Code of the State of California, as amended and
supplemented, and Section 52075 et. seq. of the Health and Safety Code of the State of
California (collectively, the "Act"); and
WHEREAS, the project to be financed by the Bonds consists of the acquisition of land and the
construction of a multi -family senior rental housing project (the "Project") to be owned by
Bouquet Canyon Seniors, L.P., a California limited partnership, or related entities; and
WHEREAS, the Issuer has requested that the City Council of the City of Santa Clarita (the
"City") approve the issuance of the Bonds in order to satisfy the public approval requirement
of Section 147(f) of the Internal Revenue Code of 1986 (the "Code") and the requirements of
Section 9 of the Amended and Restated Joint Exercise of Powers Agreement (the "Agreement"),
dated as of June 1, 1988, among certain local agencies, including the City; and
WHEREAS, the City has held a public hearing providing a reasonable opportunity for persons
to comment on the issuance of the Bonds and the location of the Project, which hearing was
properly noticed in a newspaper of general circulation within the City at least fourteen days
prior to such hearing; and
WHEREAS, it is intended that this resolution shall constitute the approval of the issuance of
the Bonds as required by Section 147(f) of the Code and Section 9 of the Agreement;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA CLARITA does resolve
as follows:
SECTION 1. The issuance of the Bonds by the Issuer is hereby approved for the purposes of
Section 147(f) of the Code and Section 9 of the Agreement.
SECTION 2. This resolution shall become effective immediately upon its adoption.
PASSED, APPFOVED AND ADOPTED this 25th day of November
19 97.
RESOLUTION NO. 97-138
November 25, 1997 - Page 2
ATTEST:
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CITY CLERK
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) §
CITY OF SANTA CLARITA )
I, Sharon L. Dawson, CMC, City Clerk of the City of Santa Clarita, do hereby
certify that the foregoing Resolution was duly adopted by the City Council of the City of Santa
Clarita at a regular meeting thereof, held on the 25th day of November 1997
by the following vote of Council:
AYES: COUNCILMEMBERS:
NOES: COUNCILMEMBERS:
ABSENT: COUNCILMEMBERS:
KS:hds
Klajic, Boyer, Heidt, Smyth
None
Darcy
CITY CLERK