City Hall
1 Dr. Carlton B. Goodlett
Place
San Francisco, CA 94102-
4689
City and County of San Francisco
Legislation Details
File #:
Version:
1
110721
Name:
Mortgage Revenue Bonds - 121 Golden Gate
Avenue - Not to Exceed $26,000,000
Status:
Type:
Resolution
Passed
File created:
In control:
7/12/2011
Board of Supervisors
On agenda:
Final action:
8/3/2011
Enactment date:
8/3/2011
327-11
Enactment #:
Title:
Resolution declaring the intent of the City and County of San Francisco (City) to: 1) reimburse certain
expenditures from proceeds of future bonded indebtedness; 2) authorizing the Director of the Mayor’s
Office of Housing (Director) to submit an application and related documents to the California Debt
Limit Allocation Committee (CDLAC) to permit the issuance of qualified mortgage revenue bonds in an
aggregate principal amount not to exceed $26,000,000 for 121 Golden Gate Avenue (121 Golden
Gate Avenue Senior Community); 3) 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; 4)
authorizing the Director to certify to CDLAC that the City has on deposit the required amount; 5)
authorizing the Director to pay an amount equal to such deposit to the State of California if the City
fails to issue the qualified mortgage revenue bonds; 6) approving, for purposes of the Internal
Revenue Code of 1986, as amended, the issuance and sale of mortgage revenue bonds by the City in
an aggregate principal amount not to exceed $26,000,000; 7) authorizing and directing the execution
of any documents necessary to implement this Resolution; and 8) ratifying and approving any action
heretofore taken in connection with the Project, as defined herein, and the Application, as defined
herein.
Sponsors:
Jane Kim
Attachments:
1. Legislation_Ver1, 2. Comm_Packet_072711, 3. Board_Packet_080211, 4. Legislation_Final
Action By
Date
Action
Result
Ver.
RECEIVED AND ASSIGNED
President
7/12/2011
1
TRANSFERRED
President
7/21/2011
1
RECOMMENDED
Budget and Finance Committee
7/27/2011
1
Pass
ADOPTED
Board of Supervisors
8/2/2011
1
Pass
APPROVED
Mayor
8/3/2011
1