HomeMy WebLinkAboutCity Council - 5568 RESOLUTION NO. 5568
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
HUNTINGTON BEACH APPROVING A PROJECT COMPRISED
OF THE CONSTRUCTION OF THE PALM COURT MULTI-FAMILY
CONGREGATE ELDERLY HOUSING PROJECT (THE PROJECT)
WHEREAS, the city of Huntington Beach, California (the "City")
is a charter city duly created and existing under its charter , the
laws and Constitution of the State of California; and
The Redevelopment Agency of the city of Huntington Beach (the
"Agency") is a Redevelopment Agency duly created and existing
pursuant to the Health and Safety Code of the State of California
(the "Act") ; and
On July 2, 1984 the city adopted Resolution No. 5408 entitled
"Resolution of the City Council of the City of Huntington Beach
Expressing the City' s Intention to Issue Revenue Bonds for the
Acquisition, Construction, and Installation of a Multi-Family
Rental Housing Project in an Amount Not to Exceed Twenty-Five
Million Dollars" ; (the "Inducement Resolution") wherein the city
approved the issuance of bonds (the "Bonds") pursuant to the Act
in an aggregate amount not to exceed $25 million for the project;
and
The city has determined the Agency may sell Certificates of
Participation in lieu of the Bonds for the financing of the
project; and
On September 3, 1985 the city conducted a public hearing on
the project; and
The city wishes to approve the project and the issuance of the
Bonds or Certificates of Participation as required by the Act; and
Section 103 (k) of the Internal Revenue Code requires that such
tax-exempt bonds must be approved by the elected legislative body
( in this instance, the City Council) of the government unit
issuing the bonds or certificates after a public hearing following
reasonable public notice.
NOW , THEREFORE, it is hereby resolved by the City Council of
the city of Huntington Beach as follows:
1. The city of Huntington Beach hereby approves the project
described above and as described in the above referenced
public notice and the issuance and sale of u
P P to $25
million aggregate principle amount of bonds or
certificates therefore by the Agency pursuant to the Act.
2. This resolution shall take effect immediately upon its
adoption.
ADOPTED THIS 3rd day of September ,
1985.
ATTEST:
City Clerk Mayor
` APPROVED AS TO FORM
City Attorney
INITIATED AND APPROVED:
6�4eputy"'-i rector of Redevelopment
P1111
APPROVED:
City Administrator
0754L
Res. No. 5568
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) sq.
CITY OF HUNTINGTON BEACH )
I, ALICIA M. WENTWORTH, the duly elected, qualified City
Clerk of the City of Huntington Beach, and ex-officio Clerk of the
City Council of said City, do hereby certify that the whole number of
members of the City Council of the City of Huntington Beach is seven;
that the foregoing resolution rA ��i D t adopted by the affirmative
vote of more than a majority of all the members of said City Council
at a regular meeting thereof held on the 3rd day
of September , 19 85 , by the following vote:
AYES: Councilmen:
Kelly, Green, Thomas
NOES: Councilmen:
MacAllister, Bailey, Finley
ABSENT: Councilmen:
Mandic (out of room)
City Clerk and ex-officio Clerk
of the City Council of the City
of Huntington Beach, California