HomeMy WebLinkAbout1995-423
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RESOLUTION NO. 95-423
RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY
OF SAN BERNARDINO, CALIFORNIA, APPROVING THE ISSUANCE
OF THAT CERTAIN MULTIFAMILY HOUSING REVENUE NOTE BY THE
REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO
UNDER SECTION 147(f) OF THE INTERNAL REVENUE CODE
WHEREAS, the City of San Bernardino is a municipal
corporation and charter city (the "city"), duly organized and
existing under and pursuant to the provisions of the Constitution
of the State of California; and
WHEREAS, the Redevelopment Agency of the City of San
Bernardino (the "Agency") is a public body, corporate and
politic, duly created and existing pursuant to the Community
Redevelopment Law (Part 1 of Division 24, commencing with section
33000) of the Health and Safety Code of the State of California
(the "Community Redevelopment Law"); and
WHEREAS, the Agency desires to issue its not to exceed
$875,000 Multifamily Housing Revenue Bonds (Royal Coach Mobile
Manor Project) series 1995 (the "Note") for the purpose of
undertaking the purchase of a certain mobilehome park referred to
as Royal Coach Mobile Manor (the "Project") in accordance with
the Community Redevelopment Law; and
WHEREAS, pursuant to the Community Redevelopment Law,
the Agency has the power and authority to issue said Note for the
purpose of funding certain projects and redevelopment activities
within the city; and
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WHEREAS, the Mayor and Common Council have caused the
timely publication of notice regarding the holding of the public
hearing in accordance with section 147(f) of the Internal Revenue
Code of 1986, as amended (the "Code"), in connection with the
issuance of the Bonds which public hearing was held on November
20, 1995; and
NOW, THEREFORE, THE MAYOR AND COMMON COUNCIL OF THE
CITY OF SAN BERNARDINO, CALIFORNIA, DO HEREBY FIND, RESOLVE,
DETERMINE AND ORDER AS FOLLOWS:
SECTION 1.
are true and correct
Reci tals. The Recitals contained herein
and are incorporated herein by this
reference.
SECTION 2. Determinations. The Mayor and Common
Council hereby find and determine that the issuance of the Note
by the Agency will result in significant public benefits, by
enabling the Agency to undertake the Project within the City.
SECTION 3. Public Hearina. Testimonv 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 issuance
of the Note.
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SECTION 4. Aooroval of the Note. The Mayor and
Common Council, after consideration of comments received at the
public hearing, hereby approve the issuance by the Agency of its
Note as described in the Recitals hereof to purchase the Project
in accordance with the provisions of the Community Redevelopment
Law.
SECTION 5. Official Actions. The Mayor and Common
Council, city Administrator, city Treasurer, city Clerk, and any
and all other officers of the city are hereby authorized and
directed, for and in the name and on behalf of the city, to do
any and all things and to take any and all actions, including
execution and delivery of any and all assignments, certificates,
requisitions, agreements, notices, consents, warrants and other
documents which they, or any of them, may deem necessary or
advisable in connection with the issuance of the Note and the
consummation of the transaction described herein and therein.
SECTION 6. Aooroval Bv Elected Reoresentati ve. It
is the purpose and intent of the Mayor and Common Council that
this Resolution constitute approval by the applicable elected
representative in accordance with the terms of section 147(f) of
the Code.
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RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN
BERNARDINO, CALIFORNIA, APPROVING THE ISSUANCE OF THAT CERTAIN
MULTIFAMILY HOUSING REVENUE NOTE BY THE REDEVELOPMENT AGENCY OF
THE CITY OF SAN BERNARDINO UNDER SECTION 147(f) OF THE INTERNAL
REVENUE CODE
Effective Date.
The findings and
SECTION 8.
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 Bernardino at a
reqular
meeting
December
day of
thereof, held on the
18th
1995, by the following vote, to wit:
ABSENT
Council Members:
NAYS
ABSTAIN
AYES
x
x
x
x
x
x
x
NEGRETE
CURLIN
HERNANDEZ
OBERHELMAN
DEVLIN
POPE-LUDLAM
MILLER
~~ ~~-CL-->'-f,-
cit lerk
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The foregoing resolution is hereby approved this
day of December , 1995.
:ji;i;ll4~
M yor of e C1ty of
San Bernardino
Approved as to form and legal content:
JAMES F. PENMAN
City Attorney
By:
SBEO\01SO\DOC\12
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