Resolution 12217CITY OF ALAMEDA. CALIFORNIA
RESOLUTION NO. 12217
A RESOLUTION APPROVING THE ISSUANCE OF NOT TO EXCEED
$3,000,000 PRINCIPAL AMOUNT OF ALAMEDA PUBLIC FINANCING
AUTHORITY 1992 REVENUE BONDS, SERIES A (WEST END
COMMUNITY IMPROVEMENT PROJECT - HOUSING INCREMENT LOAN),
AND THE BORROWING OF BOND PROCEEDS BY THE CITY OF
ALAMEDA COMMUNITY IMPROVEMENT COMMISSION
RESOLVED, by the City of Alameda, California (the "City "), as follows:
WHEREAS, the City and the City of Alameda Community Improvement Commission (the
"Commission ") have heretofore entered into a Joint Exercise of Powers Agreement dated March
17, 1992, establishing the Alameda Public Financing Authority (the "Authority ") for the purpose of
issuing its bonds to be used to provide financial assistance to the City and the Commission;
WHEREAS, the Authority has authorized the issuance of its 1992 Revenue Bonds,
Series A (West End Community Improvement Project- Housing Increment Loan) in an aggregate
principal amount of not to exceed $3,000,000 (the "Bonds ") for the purpose of providing funds to
make a loan to the Commission in an aggregate principal amount of not to exceed $3,000,000 for
the acquisition of land and buildings related to the provision of low and moderate income housing
with respect to the Commission's West End Community Improvement Project (the "Loan ") as
provided in a Loan Agreement, dated as of April 1, 1992, by and between the Authority and the
Commission, as trustee (the "Loan Agreement "), a copy of which is on file with the City Clerk;
and
WHEREAS, pursuant to the Community Redevelopment Law (constituting Part 1 of
Division 24 of the California Health and Safety Code), the Commission has authorized the Loan.
NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED that the
issuance of the Bonds by the Authority, the entering into of the Loan and the Loan Agreement by
the Commission, and the application of a portion of the proceeds of the Loan as contemplated by
the Loan Agreement, be and are hereby approved.
I hereby certify that the foregoing Resolution was duly adopted by the City Council of the
City of Alameda at a scheduled meeting thereof, held on the 17th day of March, 1992, by the
following vote of the City Council:
AYES: Councilmembers Arnerich, Camicia, Lucas, Roth and
President Withrow - 5.
NOES: None,
ABSENT: None.
ABSTAINED: None.
By
City Clerk