HomeMy WebLinkAboutRESOLUTIONS - 09271994 - 94-463 COUNTY OF CONTRA COSTA
RESOLUTION NO. 94/46
RESOLUTION APPROVING THE EXTENSION OF THE MATURITY OF MULTIFAMILY
MORTGAGE REVENUE REFUNDING BONDS HERETOFORE ISSUED BY THE HOUSING
AUTHORITY OF THE COUNTY OF CONTRA COSTA FOR THE LAKESHORE
APARTMENTS PROJECT
WHEREAS, the Housing Authority of the County of Contra
Costa (the "Authority") has previously issued its $12, 095, 000 of
multifamily mortgage revenue refunding bonds (the "Bonds")
pursuant to Article it of Chapter 3 of Part 1 of Division 2 of
Title 5 of the Government Code of the State of California, in
order to refinance a multifamily rental housing project pursuant
to its program (the "Program") located at 600 Wilbur Avenue, in
the City of Antioch, California, known as Lakeshore Apartments
(the "Project") ; and
WHEREAS, the Authority has requested that the maturity
of the Bonds be extended to not later than December 1, 2020; and
WHEREAS, the Authority has appointed the County of
Contra Costa as administrator of its Program; and
WHEREAS, the interest on the Bonds may continue to
qualify for exclusion from gross income under Section 103 of the
Internal Revenue Code of 1986 (the "Code") , only if the extension
of the maturity of the Bonds is approved in accordance with
Section 147 (f) of the Code; and
WHEREAS, the Project is located wholly within the
County of Contra Costa, California; and
WHEREAS, the County of Contra Costa caused a notice
stating that a public hearing regarding the issuance of the Bonds
would be held by the Deputy Director-Redevelopment on September
26, 1994, to appear in the Contra Costa Times and the Antioch
Ledger, which are newspapers of general circulation in the
County, not less than fourteen days prior to the date of such
hearing; and
WHEREAS, the Deputy Director-Redevelopment has held the
public hearing described above, and an opportunity was provided
for interested parties to present arguments for and against the
issuance of the Bonds and the nature and location of the program
to be financed by the issuance of the Bonds; and
WHEREAS, this Board of Supervisors is the elected
legislative body of the County and is the applicable elected
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representative required to approve the issuance of the Bonds
within the meaning of Section 147 (f) of the Code; and
NOW, THEREFORE, BE IT RESOLVED by the Board of
Supervisors of the County of Contra Costa, as follows:
1. Each of the foregoing recitals is correct and is
certified to be a representation of this Board of Supervisors.
2 . This Board of Supervisors hereby approves the
extension of the maturity date of the Bonds. It is the purpose
and intent of this Board of Supervisors that this Resolution
constitute approval of the Bonds by the applicable elected
representative of the issuer of the Bonds and the applicable
elected representative of the governmental unit having
jurisdiction over the area in which the Project is located, in
accordance with Section 147 (f) of the Code.
3 . This Board of Supervisors hereby accepts, on
behalf of the County of Contra Costa, the appointment by the
Authority to act as administrator of its Program.
4 . The County Administrator and Clerk of this Board
of Supervisors or a deputy thereof is directed to certify and
deliver a copy of this Resolution to the Authority.
5 . This Resolution shall take effect immediately upon
its passage and adoption.
ADOPTED this 27th day of September, 1994, by the
following vote:
AYES: Supervisors Smith, DeSaulnier, Torlakson and Bishop
NOES: None
ABSTAINING: None
ABSENT: None
Chair f the Board f Supervisors
ATTEST:
Phil Batchelor,
County Administrator and
Clerk of the Board of Supervisors
By:
- A JJAJ �',
Deputy
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