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this City Council's present intent to continue its <br /> efforts toward the development of the multifamily senior <br /> rental housing project describe in Resolution No. 85-47. <br /> <br /> It is this City Council's intent to issue revenue bonds <br /> in an aggregate principal amount of approximately <br /> $16,000,000.00 for the purpose of paying a portion of <br /> the costs of the project. The City may also <br /> determine,in its sole discretion, that City funds may be <br /> used for the purpose of paying a portion of the costs of <br /> the project. <br /> <br /> Except for the above and the change in developer from <br /> Pleasanton Housing Group, Inc., a nonprofit corporation, <br /> to Eden Housing, Inc., a nonprofit corporation, which <br /> change was required as a result of the City's <br /> application to the Department of Housing and Urban <br /> Development for a Housing Development Grant to assist <br /> with the financing of the project, and the change in the <br /> investment banking firm from FISER to Dean Witter <br /> Reynolds, Inc., Resolution No. 85-47 remains unchanged. <br /> <br />Section 4: The Mayor, after consultation with the City Manager <br /> and upon the advice of the City Attorney, is hereby <br /> authorized and directed to execute any documents <br /> necessary to implement the provisions of this <br /> resolution. <br /> <br />Section 5: This resolution shall become effective immediately <br /> upon its passage and adoption. <br /> <br />THIS RESOLUTION ADOPTED JUNE 16, 1987 BY THE FOLLOWING VOTE: <br /> <br />AYES: Councilmembers - Brandes, Butler, Mohr, Wilson and Mayor <br /> Mercer <br />NOES: None <br />ABSENT: None <br />ABSTAIN: None N~~R'~~ <br />ATTEST: = <br /> KEN . MERCER, MAYOR <br />P~t~' D ~ MacDon~id, City ~ttorney <br /> <br /> <br />