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File #: 191112    Version: 1 Name: Multifamily Housing Revenue Bonds - 711 Eddy Street - Not to Exceed $84,840,000
Type: Resolution Status: Passed
Introduced: 10/29/2019 In control: Clerk of the Board
On agenda: Final action: 11/27/2019
Enactment date: 11/27/2019 Enactment #: 513-19
Title: Resolution authorizing the issuance and delivery of multifamily housing revenue bonds in an aggregate principal amount not to exceed $84,840,000, in one or more series or subseries, for the purpose of providing financing for the acquisition and rehabilitation of a 202-unit multifamily rental housing project known as “Eastern Park Apartments;” approving the form of and authorizing the execution of an indenture of trust providing the terms and conditions of and the authorization for the issuance of such bonds; approving the form of, and authorizing the execution of, a financing agreement providing the terms and conditions of the loans from the City to the borrower; approving the form of and authorizing the execution of a regulatory agreement and declaration of restrictive covenants; approving the form of and authorizing the execution of a bond purchase agreement; approving the form of an Official Statement for such bonds and authorizing the distribution thereof; authorizing the collection of certain fees; approving modifications, changes and additions to the documents; ratifying and approving any action heretofore taken in connection with the loans, the bonds and the Project; granting general authority to City officials to take actions necessary to implement this Resolution, subject to the terms of this Resolution; and related matters, as defined herein.
Sponsors: Mayor
Attachments: 1. Leg Ver1, 2. DRAFT Bond Purchase Agrmt, 3. DRAFT Regulatory Agrmt, 4. CDLAC Reso No. 19-040 032019, 5. Public Disclosures 102819, 6. DRAFT Indenture of Trust, 7. DRAFT Preliminary Official Statement, 8. DRAFT Financing Agreement, 9. Form 126, 10. Comm Pkt 111819, 11. Bd Pkt 111919, 12. Form 126 Final, 13. Leg Final
Legislation Details
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