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File #: 171203    Version: 1 Name: Multifamily Housing Revenue Bonds - 1990 Folsom Street - Not to Exceed $90,000,000
Type: Resolution Status: Mayors Office
Introduced: 11/14/2017 In control: Budget and Finance Committee
On agenda: Final action: 12/12/2017
Enactment date: Enactment #:
Title: Resolution declaring the intent of the City and County of San Francisco (the “City”) to reimburse certain expenditures from proceeds of future bonded indebtedness; authorizing the Director of the Mayor’s Office of Housing and Community Development (the “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 $90,000,000 for 1990 Folsom Street; authorizing and directing the Director to direct 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 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; authorizing and directing the execution of any documents necessary to implement this Resolution; and ratifying and approving any action heretofore taken in connection with the Project, as defined herein, and the Application, as defined herein.
Sponsors: Hillary Ronen
Attachments: 1. Leg Ver1, 2. Proj Description, 3. Form 126, 4. Comm Rpt 113017, 5. Board Pkt 121217
Legislation Details
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