Resolution 12469RESOLUTION NO. 12469
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ALAMEDA APPROVING
THE REFINANCING OF MULTIFAMILY HOUSING PROJECTS BY THE HOUSING
AUTHORITY OF THE CITY OF ALAMEDA
WHEREAS, the Housing Authority of the City of Alameda (the "Authority ") is
authorized by Article 11 of Chapter 3 of Part 1 of Division 2 of Title 5 of the Government Code
of the State of California, (the "Law "), to issue and sell its refunding revenue bonds for the
purpose of refinancing multifamily rental housing facilities located within the area of operation
of the Authority; and
WHEREAS, the Authority proposes to issue its multifamily housing revenue refunding
bonds (the "Bonds ") under the Law for the purpose of refinancing an approximately 50 -unit
multifamily rental housing development with related facilities'coirunonly known as the Parrot
Village Apartments and a 40 -unit multifamily rental housing development with related facilities
commonly known as the Playa Del 'Alameda Apartments, each located within the City of
Alameda (the "Projects "); and
WHEREAS, the Bonds will be considered to be "private activity bonds" under of the
Internal Revenue Code of 1986, as amended (the "Code "), and Section 147(f) of the Code
requires that the "applicable elected representatives" with respect to the Authority hold a public
hearing concerning the issuance of the Bonds; and
WHEREAS, the City Council of the City of Alameda is the "applicable elected
representatives" to hold said public hearing; and
WHEREAS, pursuant to the Code the "applicable elected representatives" to hold said
public hearing may delegate to a qualified public entity the power to hold said public hearing;
and
WHEREAS, pursuant to the Code, the Authority is a public entity qualified to hold said
public hearing;
NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Alameda as
follows:
1. The City Council hereby finds and determines that the foregoing recitals are true
and correct.
2. The City Council hereby approves the refinancing of the Projects by the Authority
under the Law subject to the holding of a public hearing by the Authority and the approval of the
sale and issuance of the Bonds by the Authority pursuant to such hearing.
3. The issuance of the Bonds shall be subject to approval by the Authority of all
financing documents relating thereto to which it is a party and subject to the sale of the Bonds by
the Authority to the underwriter thereof.
4. The City Council hereby delegates to the Authority the power to hold the public
hearing required by the Code with respect to the refinancing of the Projects with the proceeds of
the Bonds.
5. This resolution shall take effect immediately.
I, the undersigned, hereby certify that the foregoing Resolution
was duly and regularly adopted and passed by the Council of the
City of Alameda in regular meeting assembled on the 16th day of
November , 1993, by the following vote to wit:
AYES: Councilmembers Appezzato, Arnerich, Roth and
President Withrow - 4.
NOES: None.
ABSENT: Councilmember Lucas - 1.
ABSTENTIONS: None.
IN WITNESS, WHEREOF, I have hereunto set my hand and affixed the
official seal of said City this 17th day of November , 1993.
Diane B. Felsch, City Clerk
City of Alameda