HomeMy WebLinkAboutRESOLUTIONS - 01011998 - 1998-114 RESOLUTION NO. 98/114
RESOLUTION OF THE BOARD OF SUPERVISORS OF THE COUNTY OF
CONTRA COSTA APPROVING THE ISSUANCE OF NOT TO EXCEED
$9,000,OOO AGGREGATE P'RIN'CIPAL AMOUNT OF MUL17 FAMELY
HOUSING REVENUE BONDS
WHEREAS, the California Statewide Communities Development Authority (the
"Issuer") has proposed to issue an amount not to exceed $9,000,000 aggregate principal amount of
Multifamily Housing Revenue Bonds (the "Bonds") pursuant to the Joint Powers Act, being
Section 6500 et. seq. of the California Government Code, as amended and supplemented, and
Section 52075 et. seq. of the California Health and Safety Code (collectively, the "Act"); and
WHEREAS, the project to be financed by the Bonds consists of a 130-unit
multifamily housing project (the "Project") in Concord, California, to be owned and operated by
Mohr Green Associates, LP or a related entity; and
WHEREAS, the Issuer has requested that the Board of Supervisors of the County
(the "County") approve the issuance of the Bonds in order to satisfy the public approval
requirement of Section 147(f) of the Internal Revenue Code of 1986 (the "Code") and the
acquirements of Section 9 of the Amended and Restated Joint Exercise of Powers Agreement (the
"Agreement"), dated as of June 1, 1988, among certain local agencies, including the County; and
WHEREAS, the County has held a public hearing providing a reasonable
opportunity for persons to comment on the issuance of the Bonds and the location of the Project,
which hearing was properly noticed in a newspaper of general circulation within the County at least
fourteen days prior to such hearing; and
WHEREAS, it is intended that this resolution shall constitute the approval of the
issuance of the Bonds required by Section 147(f)of the Code and Section 9 of theAgreement;
NOW, THEREFORE, BE IT RESOLVED, by the Board of Supervisors of the
County of Contra Costa, as follows:
Section 1. The issuance of the Bonds by the Issuer is hereby approved for the
purposes of Section 147(f) of the Code and Section 9 of the Agreement.
adoption. Section Z. This r lution shall become effective immediately upon its
Section 3. The County C & of the County shall forward a �'xed copy of
this Resolution and a copy of the affidavit of publication refecred to above to:
Ana Marie del Rio, Fsq.
Orrick,Herrington&Sutcliffe tp
Old Federal Remve Bank Building
400 Sansome Street
San Francisco, California 94111
APPROVED AND ADOPTED this 177th day of March, 1998, by the following
vote:
AYES: Supervisors Uilkema, Gerber, DeSaulnier, Caneiamilla and Rogers
NOES: Nene
ABSTAIN: Nene
ABSENT: None
Chairman of Board of ri-v6rs
[SWI
ATTEST:
Cale of the Board of Supervisors