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WHEREAS, <br />WHEREAS, <br /> <br />CITY COUNCIL OF THE CITY OF PLEASANTON <br /> <br />ALAMEDA COUNTY, CALIFORNIA <br /> <br />RESOLUTION NO. 94-146 <br /> <br />RESOLUTION AUTHORIZING THE ISSUANCE, SALE AND <br />DELIVERY OF MULTIFAMILY HOUSING REVENUE <br />REFUNDING BONDS, AUTHORIZING THE EXECUTION <br />AND DELIVERY OF RELAT/~D DOCUMENTS AND <br />APPROVING ACTIONS IN CONNECTION THEREWITH <br /> <br />(MuRifamily Housing Revenue Refunding Bonds (Civic Square <br />Apartments), 1994 Issue A) <br /> <br />Article 11 of Chapter 3 of Part 1 of Division 2 of Title 5 of the Government <br />Code of the State of California (the "Act") authorizes a local agency to incur <br />indebtedness for the purpose of refunding outstanding bonds of the local agency, <br />and the Act provides a complete, additional and ahematlve method for such <br />financing; and <br /> <br />the City of Ple~nton (the "Issuer") hereby finds and declares that it is a public <br />purpose for the Issuer to engage in a program (the "Program") of refunding <br />certain revenue bonds of the Issuer which were issued to finance the acquisition <br />construction and development of mal~family rental housing pursuant to Chapter <br />7 of part 5 of Division 31 of the California Health and Safety Code, and has <br />determined to borrow money for such purpose by the issuance of revenue bonds <br />as authorized by the Act; and <br /> <br />the Issuer hereby finds and declares trat this resolution is being adopted pursuant <br />to the powers granted by the Act; and <br /> <br />Civic Square L.L.C. (a California limited liability company) (the "Borrower"), <br />has requested that the Issuer issue and sell the Bonds (hereinafter defined) for the <br />purpose of making a loan to the Borrower to retinanee the acquisition, <br />construction and development of a multlfamily rental housing project (the <br />"Project"); and <br /> <br />the City has previously issued its City of Pleasanton Multifamily Housing <br />Revenue Bonds, Issue A of 1985 (Civic Square Apartments Projec0 in the <br />principal amount of $15,000,000 (the "Prior Bonds"), and it is intended that the <br />Borrower use the proceeds of the loan to repay the loan made to it from the <br />proceeds of the Prior Bonds and thereby effect redemption in whole of the Prior <br />Bonds; and <br /> <br /> <br />