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CITY COUNCIL OF THE CITY OF PLEASANTON <br /> <br /> ALAMEDA COUNTY, CALIFORNIA <br /> <br /> RESOLUTION NO. 84-356 <br /> <br /> RESOLUTION APPROVING AND AUTHORIZING THE FIRST <br /> SUPPLEMENTAL INDENTURE WITH RESPECT TO <br /> $11,935,000 AGGREGATE PRINCIPAL AMOUNT OF <br />CITY OF PLEASANTON MULTIFAMILY MORTGAGE REVENUE BONDS, <br /> SERIES 1984 (FHA INSURED MORTGAGE LOAN) <br /> <br />WHEREAS, <br /> <br />WHEREAS, <br /> <br />WHEREAS, <br /> <br />WHEREAS, <br /> <br />Chapter 7 of Part 5 of Division 31 of the <br />Health and Safety Code of the State of <br />California, as amended (the "Act"), <br />authorizes cities to issue revenue bonds for <br />the purpose of financing the development of <br />multifamily rental housing; and <br /> <br />on January 24, 1984, the City Council of the <br />City of Pleasanton (the "City") adopted a <br />resolution of intention to finance a <br />residential rental project to be known as <br />Gatewood Apartments (the "Project"); and <br /> <br />to finance the Project, the City has issued <br />$11,935,000 aggregate principal amount of its <br />Multifamily Mortgage Revenue Bonds, <br />Series 1984 (FHA Insured Mortgage Loan) (the <br />"Bonds") pursuant to the Act and to an <br />Indenture, dated as of March 1, 1984 (the <br />"Indenture"), by and between the City and <br />Seattle-First National Bank, and proposes to <br />use the proceeds of sale of the Bonds to <br />provide for a mortgage loan (the "Mortgage <br />Loan") to Gatewood Associates (the "Owner") <br />and to provide funds for land acquisition for <br />the Project; and <br /> <br />the Mortgage Loan is evidenced by the Owner's <br />Mortgage Note, which is to be initially <br />endorsed for insurance (Initial Endorsement") <br />by the Federal Housing Administration ("FHA") <br />pursuant to Section 221(d)(4) of the National <br />Housing Act of 1934, as amended; and <br /> <br /> <br />