RES 89429 - Laserfiche WebLink

CITY COUNCIL OF THE CITY OF PLEASANTON ALAMEDA COUNTY, CALIFORNIA RESOLUTION NO. 89-429 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PLRASANTON, CALIFORNIA, AUTHORIZING THE ISSUANCE, S/~I.R AND DELIVERY OF THE CITY OF PLRASANTON VARIABLE RATE MULTIFAMILY MORTGAGE REVENUE DEMAND BONDS (V/~T.T.Ry PLAZA II APARTMENTS), 1989 ISSUE A, AUTHORIZING THE EXECUTION AND DELIVERY OF THE INDENTURE, REGULATORY AGREEMENT, OFFICIAL STATEMENT AND PURCHASE AGREEMENT, AND AUTHORIZING THE EXECUTION AND DELIVERY OF AND APPROVING OT~ER RELATED DOCUMENTS, APPOINTING BOND COUNSEL AND APPROVING OTHER RELATED ACTIONS IN CONNECTION WHEREAS, Article 11 of Chapter 3 of Part 1 of Division 2 of Title 5 of the Government Code of the State of California, commencing with Section 53580 (the "Act") authorizes local agencies to incur indebtedness for the purpose of refunding any revenue bonds of the local agency, and the Act provides a complete, additional and alternative method for such financing; WHEREAS, the City Council (the "City Council") of the City of Pleasanton (the "City") hereby finds and declares that it is necessary, essential and a public purpose for the City to engage in the program (the "Program"), relating to the Project (hereinafter defined), of refunding certain revenue bonds of the City issued to finance the construction and development of multifamily rental housing, and has determined to borrow money for such purpose by the issuance of revenue bonds as authorized by the Act; WHEREAS, this City Council hereby finds and declares that this resolution is being adopted pursuant to the powers granted by the Act; WHEREAS, the owner of Valley Plaza II Apartments (the "Owner") has requested that the City issue and sell the Bonds (hereinafter defined) for the purpose of refunding revenue bonds previously issued to finance the construction and development of such -1-