HomeMy WebLinkAbout1996-081
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
RESOLUTION NO.
96-81
RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE
CITY OF SAN BERNARDINO REGARDING THE HOLDING OF A
PUBLIC HEARING IN CONNECTION WITH THE ISSUANCE OF
THE $7,000,000 REDEVELOPMENT AGENCY OF THE CITY OF
SAN BERNARDINO VARIABLE RATE DEMAND MULTIFAMILY
HOUSING REVENUE BONDS (SILVERWOODS APARTMENTS
PROJECT) SERIES 1996
WHEREAS, the City of San Bernardino, California
(the "City"), is a municipal corporation and a charter city
duly created and existing pursuant to the Constitution and the
laws of the State of California; and
WHEREAS,
the
City
timely
has
caused
the
publication of notice regarding the holding of a public hearing
in accordance with Section 147(f) of the Internal Revenue Code
of 1986, as amended (the "Code"), in connection with the
proposed issuance of the Redevelopment Agency of the City of
San Bernardino Variable Rate Demand Multifamily Housing Revenue
Bonds
(Silverwoods Apartments Project)
Series 1996
(the
"Bonds") in a total amount not to exceed $7,000,000 (the
"Bonds"); and
WHEREAS, the Bonds shall be secured by revenues
from the project and a direct pay letter of credit provided by
Bane One Arizona.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND
COMMON COUNCIL OF THE CITY OF SAN BERNARDINO, AS FOLLOWS:
1
RES 96-81
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
Section 1. Public Hearino, Testimony and Comments. The
City has held a public hearing in accordance with the
provisions of Section 147(f) of the Code, and has considered
all testimony and comments submitted in connection with the
proposed issuance of the Bonds.
Section 2. Approval by City.
consideration of comments received at the
hereby approves the issuance of the Bonds.
The City, after
public hearing,
Section 3. Approval by Elected Representative.
It is the purpose and intent of the City that this Resolution
constitute approval by the applicable elected representative in
accordance with the terms of Section 147(f) of the Code.
2
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN
BERNARDINO REGARDING THE HOLDING OF A PUBLIC HEARING IN
CONNECTION WITH THE ISSUANCE OF THE $7,000,000 REDEVELOPMENT
AGENCY OF THE CITY OF SAN BERNARDINO VARIABLE RATE DEMAND
MULTIFAMILY HOUSING REVENUE BONDS (SILVERWOODS APARTMENTS
PROJECT) SERIES 1996
Section 4.
The findings and determinations
herein shall be final and conclusive.
This Resolution shall
take effect upon the date of its adoption.
I HEREBY CERTIFY that the foregoing Resolution was
duly adopted by the Mayor and Common Council of the City of San
held on the
day
1st
Bernardino at regular meeting thereof,
April
, 1996, by the following vote, to wit:
of
Commission Members:
NEGRETE
CURLIN
ARIAS
OBERHELMAN
DEVLIN
ANDERSON
MILLER
8/t!i
The foregoing
day of April
AYES
AB,STAIN
ABSENT
NAYS
x
X
X
X
X
X
X
~~i~
resolution is hereby, approved
, 1996.
~~-t~he ~d(~1~~rr
Bernardino
this
Approved as to form and legal content:
JAMES F. PENMAN,
:::y i)~o.rn~v ~a. /
SB~~
3/26/96 254 jg
3
