RES 03115 - Laserfiche WebLink

CITY COUNCIL OF THE CITY OF PLEASANTON ALAMEDA COUNTY, ALAMEDA RESOLUTION NO. 03-115 RESOLUTION AUTHORIZING THE ISSUANCE, SALE AND DELIVERY OF VARIABLE RATE DEMAND MULTIFAMILY HOUSING REVENUE BONDS (BUSCH SENIOR HOUSING), SERIES 2003A, APPROVING, AND AUTHORIZING THE EXECUTION AND DELIVERY OF, OTHER RELATED DOCUMENTS AND APPROVING OTHER RELATED ACTIONS IN CONNECTION THEREWffH the City of Pleasanton, California (the "City") is authorized pursuant to Chapter, 7 of Part 5 of Division 31 of the Health and Safety Code of the State of California (the "Act") to issue revenue bonds to provide funds to finance multifamily rental housing facilities; and WHEREAS, Busch Garden Investors, A California Limited Partnership (the "Developer") has requested that the City issue and sell revenue bonds to assist in the financing of the acquisition and construction of a 172 unit senior apartment project (the "Projecf') to be located on an approximately 6 acre site at the northwest comer of Busch Road and Valley Avenue in the City; and WHEREA~ on May 6, 2003, this City Council held a public hearing on the proposed issuance of the Bonds and the financing, ownership and operation of the Project, as required under the provisions of the Internal Revenue Code applicable to tax-exempt bonds, following published notice of the hearing; and WHEREAS, there have been prepared various documents with respect to the issuance of the Bonds, copies of which are on file with the City Clerk, and this City Council now desires to approve the issuance of the Bonds and the execution and delivery of such documents by the City; and WHEREAS, all conditions, things and acts required to exist, to have happened and to have been performed precedent to and in connection with the issuance of the Bonds 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 true and correct.