HomeMy WebLinkAbout2000-066
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RESOLUTION NO. 2000-66
RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE
CITY OF SAN BERNARDINO APPROVING THE ISSUANCE OF
MULTIFAMILY HOUSING REVENUE BONDS BY THE CALIFORNIA
STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY FOR
THE 160 UNIT AUTUMN WOOD APARTMENTS IN THE CITY OF SAN
BERNARDINO, CALIFORNIA
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WHEREAS, the California Statewide Communities Development Authority (the
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"Authority") is authorized pursuant to the provisions of California Government Codc Section
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6500 et seq. and the terms of an Amended and Restated Joint Exercise of Powers Agreement,
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dated as of June I, 1988 (the "Agreement"), among certain local agencies throughout the State
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of California, including the City of San Bernardino (the "City"), to issue revenue bonds in
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accordance with Chapter 7 of Part 5 of Division 31 of the California Health and Safety Code
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for the purpose of financing multifamily rental housing projects; and
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WHEREAS, Autumnwood Apartments I and II, L.P. (collectively, with any related
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entity, the "Borrower") has requested that the Authority issue multifamily housing revenue
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bonds in an aggregate principal amount not to exceed $9,000,000 (the "Bonds") for the
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purpose of providing financing for the acquisition and rehabilitation of a 160-unit multifamily
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residential rcntal project located at 2005,2020,2029,2051,2073,2095,2105,2123,2141,
2159,2177 and 2195 North Guthrie Street, San Bernardino, California and generally known
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as Autumnwood Apartments (the "Project"); and
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WHEREAS, thc Bonds will be "private activity bonds" for purposes of the Internal
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Revenue Code of 1986 (the "Codc"); and
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WHEREAS, pursuant to Section 147(f) of the Code, prior to their issuance, private
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activity bonds are required to be approved by the "applicable elected representative" of the
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govcrnmental units on whose behalf such bonds are expected to be issued and by a
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2000-66
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governmental unit having jurisdiction over the entire area in which any facility financed by
such bonds is to be located, after a public hearing held following reasonable public notice; and
WHEREAS, there has been published, at least 14 days prior to the date hereof, in a
newspaper of general circulation within the City, a notice that a public hearing regarding the
Bonds would be held on the date hereof; and
WHEREAS, such public hearing was conducted on said date by the Mayor and
Common Council, at which time an opportunity was provided to interested parties to present
arguments both for and against the issuance of the Bonds; and
WHEREAS, the members of this Mayor and Common Council (this "Council") are the
applicable elected representatives of the City; and
WHEREAS, it is intended that this Resolution shall constitute the approval of the
issuance of the Bonds required by Section 147(f) of the Code and Section 9 of the Agreement;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF SAN BERNARDINO AS FOLLOWS:
Section I. The above recitals are true and correct.
Section 2, The Council hereby approves the issuance of the Bonds by the
Authority, It is the purpose and intent of the Council that this Resolution constitute approval
of the Bonds for the purposes of (a) Section 147(f) of the Code by the applicable elected
representative of the governmental unit having jurisdiction over the area in which the Project
is located, in accordance with said Section 147(f), and (b) Section 9 of the Agreement.
Section 3, The officers of the City are hereby authorized and directed, jointly and
severally, to do any and all things and to execute and deliver any and all documents that 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 approved hereby,
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Section 4,
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2000-66
The City Clerk of the City shall forward a certified copy of this
Resolution and a copy ofthe affidavit of publication of the hearing notice to:
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Section 5.
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Ana Marie del Rio, Esq,
Orrick, Herrington & Sutcliffe LLP
Old Federal Reserve Bank Building
400 Sansome Street
San Francisco, California 94111
This Resolution shall take effect immediately upon its adoption.
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2000-66
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RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE
CITY OF SAN BERNARDINO APPROVING THE ISSUANCE OF
MULTIFAMILY HOUSING REVENUE BONDS BY THE CALIFORNIA
STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY FOR
THE 160 UNIT AUTUMNWOOD APARTMENTS IN THE CITY OF SAN
BERNARDINO, CALIFORNIA
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I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the Mayor and
joint
Common Council of the City of San Bernardino at a TPgJ.13T meeting thereof, held on the
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20th day of
March
, 2000, by the following vote to wit:
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Council Members:
Ayes Nays Abstain Absent
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ESTRADA
LIEN
MCGINNIS
SCHNETZ
SUAREZ
ANDERSON
MILLER
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Q~ h. C.l~~
City lerk
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The foregoing resolution is hereby approved this .Jl. /:; f day of
,2000.
March
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Judi Valles, Mayor
CitX of San Bernardino
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Approved as to form and Legal Content:
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James F. Penman
City Attorney
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By:
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