File #: 150304    Version: 1 Name: Multifamily Housing Revenue Bonds - 990 Pacific Avenue - Not to Exceed $53,000,000
Type: Resolution Status: Passed
Introduced: 3/24/2015 In control: Clerk of the Board
On agenda: Final action: 4/24/2015
Enactment date: 4/24/2015 Enactment #: 129-15
Title: Resolution declaring the intent of the City and County of San Francisco (City) to reimburse certain expenditures from proceeds of future bonded indebtedness; authorizing the Director of the Mayor’s Office of Housing and Community Development (Director) to submit an application and related documents to the California Debt Limit Allocation Committee (CDLAC) to permit the issuance of residential mortgage revenue bonds in an aggregate principal amount not to exceed $53,000,000 for 990 Pacific Avenue; authorizing and directing the Controller’s Office to hold in trust an amount not to exceed $100,000 in accordance with CDLAC procedures; authorizing the Director to certify to the CDLAC that the City has on deposit the required amount; authorizing the Director to pay an amount equal to such deposit to the State of California if the City fails to issue the residential mortgage revenue bonds; approving, solely 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 $53,000,000; and authorizing and directing the execution of any documents necessary to implement this Resolution, as defined herein.
Sponsors: Mayor, Julie Christensen
Attachments: 1. Leg Ver1, 2. Pub Hearing Notice, 3. Comm Pkt 040815, 4. Ppt Presentation 040815, 5. Board Pkt 041415, 6. Leg Final
Legislation Details
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