HomeMy WebLinkAboutCity Council - 5585 RESOLUTION NO. 5585
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
HUNTINGTON BEACH GIVING PUBLIC APPROVAL FOR THE
ISSUANCE OF BONDS FOR WARNER PARTNERSHIP I, A
CALIFORNIA LIMITED PARTNERSHIP
WHEREAS, the City of Huntington Beach proposes to issue its
multifamily housing revenue bonds (Warner Avenue Apartments
Project) 1985 Series C, in the aggregate principal amount of
not more than $9,000,000, and to enter into a loan agreement to
lend the proceeds thereof to Warner Partnership I, a California
limited partnership, for the purpose of financing the acquisi-
tion and improvement of an approximately 102-unit multifamily
residential rental facility, to be located on the north side of
Warner Avenue between Sims and Lynn Streets 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 no-
tice, 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 Warner Apartments
Project, and the issuance of bonds by the city in an aggregate
principal amount not to exceed $9,000,000 for the financing
1.
therefor be and are hereby approved.
PASSED AND ADOPTED by the City Council of the City of
Huntington Beach at a/rdc�gulard meeting thereof held on the 14th
day of October 1985 .
e
Mayor
ATTEST: APPROVED AS TO FORM:
�k�l�/ * !ice'✓y
City Clerk City At orney
REVIEWED D APPROVED: I ITIATED AND APPROVED:
City Administrato eputy Director of
Redevelopment
ahb; 1/10/85
0863L/3797
2.
Res. No. 5585
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, Thomas
NOES: Councilmen:
None
ABSENT: Councilmen:
Mandic
. aka
City Clerk and ex-officio Clerk
of the City Council of the City
of Huntington Beach, California