HomeMy WebLinkAboutCity Council - 5583 RESOLUTION NO. 5583
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF HUNTINGTON BEACH GIVING PUBLIC APPROVAL
FOR THE ISSUANCE OF BONDS FOR HOUSEHOLD BANK,
F.S.B./RIVERMEADOWS APARTMENTS, A CALIFORNIA
LIMITED PARTNERSHIP
WHEREAS, the City of Huntington Beach proposes to issue its
multifamily housing revenue bonds (Household Bank, f .s .b./
Rivermeadows Apartments Project) 1985 Series B, in the
aggregate principal amount of not more than $10,000,000, and to
enter into a loan agreement to lend the proceeds thereof to
Rivermeadows Apartments, a California limited partnership, for
the purpose of financing the acquisition and improvement of an
approximately 152-unit multifamily residential rental facility,
to be located at the southwest corner of Magnolia Street and
the San Diego Freeway in the city of Huntington Beach; and
Title 26 of the United States Code Annotated sec-
tion 103(k ) , as amended, requires that the City Council shall
approve, after public hearing following reasonable public
notice, the issuance of bonds by the city for such purpose; and
This Council is the applicable elected representative of
the city, and it has duly called and conducted a hearing on
said financing, notice of which has been given in accordance
with said Title 26 of the United States Code Annotated sec-
tion 103(k) , and all persons requesting to be heard have been
heard,
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of Huntington Beach that it hereby finds, determines and
declares that the loan agreement, the Rivermeadows Apartments
Project, and the issuance of bonds by the city in an aggregate
principal amount not to exceed $10,000,000 for the financing
1 .
therefor be and are hereby approved.
PASSED AND ADOPTED by the City Council of the City of
d_io rned
Huntington Beach at anf �ar meeting thereof held on the 14th
day of October 1985.
et7
e
Mayor
ATTEST: APPROVED AS TO FORM:
City Clerk City Attorney
REVIEWED AND APPROVED: IN TIATED AND APPROVED:
i
f
City Administrator D puty Director of
Redevelopment
ahb; 9/27/85
0852L/3789
2.
Res. No. 5583
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss:
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 was passed and adopted by the affirmative
vote of more than a majority of all the members of said City Council
at a regular adjourned meeting thereof held on the 14th day
of October 19 85 by the following vote:
AYES: Councilmen:
Kelly, MacAllister, Bailey, Finley, Green
NOES: Councilmen:
None
ABSENT: Councilmen:
Mandic,(Thomas - out of room)
City Clerk and ex-officio Clerk
of the City Council of the City
of Huntington Beach, California