HomeMy WebLinkAboutCity Council - 5597 RESOLUTION NO. 5597
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
HUNTINGTON BEACH APPROVING THE CONSTRUCTION OF
THE PALM COURT MULTIFAMILY CONGREGATE ELDERLY
HOUSING PROJECT
WHEREAS, the City of Huntington Beach 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 is
a redevelopment agency duly created and existing pursuant to
the California Health and Safety Code; and
On July 12, 1984 the city adopted Resolution No. 5408 en-
titled, "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 Multifamily Rental Housing Project by
BWC/Vanderwood Company in an Amount Not to Exceed Twenty-five
Million Dollars, " wherein the city approved the issuance of
bonds pursuant to provisions of the Health and Safety Code in
an aggregate amount not to exceed $25 million for the project;
and
It has been determined that the Redevelopment Agency may
sell its bonds in lieu of the city' s bonds for the financing of
the project; and
On December 2, 1985 the city conducted a public hearing on
the project; and
The city wishes to approve the project and the issuance of
the bonds as required by the California Health and Safety Code;
and
Internal Revenue Code section 103(k) requires that such
tax-exempt bonds must be approved by the elected legislative
1.
body of the government unit issuing the bonds after a public
hearing following reasonable public notice,
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of Huntington Beach as follows:
That it does approve the project described hereinbefore and
as described in the above-referenced public notice, and the
issuance and sale of up to $25 million aggregate principle
amount of bonds therefor by the Huntington Beach Redevelopment
Agency, pursuant to the California Health and Safety Code.
PASSED AND ADOPTED by the City Council of the City of
Huntington Beach at a regular meeting thereof held on the 2nd
day of December 1985 .
Lt4 Va. •
Mayor
ATTEST: APPROVED AS TO FORM:
Z�w
}
City Clerk City Attorney
REVIEWED AND APPROVED: INITIATED AND APPROVED:
City A in stra r eputy ity Administrator
Redevelopment
ahb; 11/27/85
1065L
I
2 .
Res. No. 5597
STATE OF CALIFORNIA
COUNTY OF ORANGE ) ss:
CITY OF HIW INGTON 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 meeting thereof held on the 2nd day
of December 19 85 by the following vote:
AYES: Councilmen:
Kelly, Finley, Green, Thomas
NOES: Councilmen:
MacAllister, Bailey
ABSENT: Councilmen:
None
ABSTAIN: Mandic
City Clerk and ex-officio Clerk
of the City Council of the City
of Huntington Beach, California