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Title:
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Resolution authorizing the issuance and delivery of multifamily housing revenue bonds in one or more series in an aggregate principal amount not to exceed $60,000,000 for the purpose of providing financing for the construction of a 136-unit multifamily rental housing project located at 2970-16th Street, known as “2970 16th Street”; approving the form of and authorizing the execution of an indenture of trust providing the terms and conditions of the bonds; approving the form of and authorizing the execution of a loan agreement providing the terms and conditions of the construction loan from the City to the borrower; approving the form of and authorizing the execution of a regulatory agreement and declaration of restrictive covenants for the project; approving the form of and authorizing the execution of an assignment of deed of trust documents; authorizing the collection of certain fees; approving, for purposes of the Internal Revenue Code of 1986, as amended, the issuance and sale of residential mortgage revenue bonds by the City in an aggregate principal amount not to exceed $60,000,000; approving modifications, changes, and additions to the documents; ratifying and approving any action heretofore taken in connection with the indenture of trust, the loan, the bonds, and the project; granting general authority to City officials to take actions necessary to implement this Resolution; and related matters, as defined herein.
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