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RESOLUTION NO.
2002-135
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RESOLUTION OF THE MAYOR AND COMMON COUNCIL
OF THE CITY OF SAN BERNARDINO APPROVING THE
ISSUANCE OF MULTI-FAMILY REVENUE HOUSING BONDS
BY THE HOUSING AUTHORITY OF THE COUNTY OF SAN
BERNARDINO ("AUTHORITY") FOR THE SANTIAGO
HILLSIDE MOBILE HOME PARK IN THE PRINCIPAL
AMOUNT OF $2.8 MILLION AND THE SANTIAGO
ORANGEWOOD MOBILE HOME PARK IN THE PRINCIPAL
AMOUNT OF $4 MILLION
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WHEREAS, the Santiago Hillside Mobile Home Park Corporation, a California non-
profit 501(c)(3)corporation and the Santiago Orangewood Mobile Home Park Corporation, a
California non-profit 50 I (c)(3)corporation (the "Corporations") have requested that the Housing
Authority of the County of San Bernardino (the "Authority") issue multifamily revenue bonds
in an aggregate principal amounts of not to exceed $2,800,000 and $4,000,000, respectively (the
"Bonds"), for the purpose of refinancing certain bonds issued to acquire the Santiago Hillside
Mobile Home Park, formerly the Friendly Village Mobile Home Park and the Santiago
Orangewood Estates Mobile Home Park (the "Projects") and to repay certain other obligations
of the Corporations including the Agency 2001 notes in the aggregate principal sum of
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$896,000; and
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WHEREAS, the Mayor and Common Council is the elected legislative body of the City
of San Bernardino (the "City"); and
WHEREAS, the Corporations have requested that the Mayor and Common Council
approve the financing of the Projects and the issuance of the Bonds in order to satisfy the public
approval requirements of Section 147(f) of the Internal Revenue Code; and
WHEREAS, the City Clerk has caused the publication of a notice of public hearing
which has been held in accordance with the requirements of the aforementioned law; and
WHEREAS, the Mayor and Common Council now desire to approve the financing of
the Projects and the issuance of the Bonds.
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20C2-135
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NOW, THEREFORE, THE MAYOR AND COMMON COUNCIL OF THE CITY OF
SAN BERNARDINO, CALIFORNIA, DO HEREBY FIND, RESOLVE, DETERMINE AND
ORDER AS FOLLOWS:
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Section 1. Recitals: The Recitals contained herein are true and correct and are
incorporated herein by this reference,
Section 2. Determination: The Mayor and Common Council hereby approve the
financing described above and find and determine that said financing will result in significant
public benefits to the City, the Redevelopment Agency of the City of San Bernardino (the
"Agency") and its residents,
Section 3. Official Action, The officers of the City and the Agency are hereby
authorized and directed, jointly and severally, to do any and all things and to execute and
deliver any and all documents which they deem necessary or advisable in order to carry out,
give effect to and comply with the terms and intent of this Resolution and the financing
transaction approved hereby,
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Section 4. Effective Date,
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This Resolution shall take effect from and after the date
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20C2-135
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RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF
THE CITY OF SAN BERNARDINO APPROVING THE
ISSUANCE OF MULTI-FAMILY REVENUE HOUSING BONDS
BY THE HOUSING AUTHORITY OF THE COUNTY OF SAN
BERNARDINO ("AUTHORITY") FOR THE SANTIAGO
HILLSIDE MOBILE HOME PARK IN THE PRINCIPAL
AMOUNT OF $2.8 MILLION AND THE SANTIAGO
ORANGEWOOD MOBILE HOME PARK IN THE PRINCIPAL
AMOUNT OF $4 MILLION
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I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the Mayor and
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Common Council of the City of San Bernardino at a j oint regular
meeting
thereof,
held on the 6th day of May
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10 Council Members:
II ESTRADA
12 LIEN
MCGINNIS
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DERRY
14 SUAREZ
1S ANDERSON
16 MC CAMMACK
, 2002, by the following vote to wit:
Ayes
x
Nays
Abstain
Absent
x
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x
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g~ )J. U~
Rac I G. Clark, City Clerk
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The foregoing resolution is hereby approved this
May
,2002.
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By: .
24 i./1{c~ City Attorney
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