RES 01084 - Laserfiche WebLink

Resolution No. 01-084 Page Two WHEREAS, Greenbriar Bernal Apartment, L.P., a California limited partnership (the "Borrower"), has requested that the City issue and sell the Bonds (hereinafter defined) for the purpose of financing the acquisition, construction and development of a multi-family rental housing project to be commonly known as Bemal Apartments to be located south of Bemal Avenue in Pleasanton, California (the "Project"); and WHEREAS, all conditions, things and acts required to exist, to have happened and to have been performed precedent to and in the issuance of the Bonds and the implementation of the Program as contemplated by this resolution and the documents referred to herein exist, have happened and have been performed in due time, form and manner as required by the laws of the State of California, including the Act. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON RESOLVES AS FOLLOWS: Section 1: The City Council hereby finds and declares that the above recitals are tree and correct. Section 2: Pursuant to the Act and the Trust Indenture and Indenture of Trust (each hereinafter defined), revenue bonds of the City, designated as "City of Pleasanton Variable Rate Multi-family Housing Revenue Bonds (Bemal Apa~hnents Project) 2001 Series A (the "2001 Series A Bonds") and designated as "City of Pleasanton Taxable Subordinate Multi-family Housing Revenue Bonds (Bemal Apashaents Project) 2001 Series A-TS" (the "2001 Series "A-TS Bonds" and collectively with the 2001 Series A Bonds, the "Bonds"), in aggregate principal amounts not to exceed $18,925,000, and $4,432,000, respectively, are hereby authorized to be issued. The Bonds shall be executed by the manual or facsimile signature of the City Manager or any Deputy City Manager of the City, and attested by the manual or facsimile signature of the City Clerk in the form set forth in and otherwise in accordance with the Indenture. Section 3: The following documents with respect to the Bonds (the "Bond Documents") between and/or among the City and the other parties named therein, in the forms on file with the City Clerk, are hereby approved: