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HomeMy WebLinkAboutReso 1999-19725 RESOLUTION NO. 19725 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA VISTA APPROVING THE ISSUANCE, SALE AND DELIVERY OFMUL TIF AMIL Y HOUSING REVENUE BONDS OF THE HOUSING AUTHORITY OF THE CITY OF CHULA VISTA FOR SALT CREEK VILLAS WHEREAS, the Housing Authority of the City of Chula Vista (the "Authority") has previously expressed its intent to issue multifamily housing revenue bonds (the "Bonds") to finance the construction of a ISO-unit multifamily rental housing project (the "Project") to be located in the City of Riverside to be owned by Chelsea Investment Corporation, a California corporation or one of its affiliates; and WHEREAS, pursuant to Section 147(f) of the Internal Revenue Code of 1986, as amended (the "Code"), the Bonds are required to be approved, following a public hearing, by an elected representative of the governmental unit having jurisdiction over the area in which the Project is located; and WHEREAS, the Board of Commissioners of the Authority is made up of members which have been appointed but not elected to their positions, and the City is the next higher governmental unit with an applicable elected representative from which the Authority derives its authority; and WHEREAS, the Project is located wholly within the geographic jurisdiction of the City; and WHEREAS, the City Council is the elected legislative body of the City; and WHEREAS, the City has caused a notice, attached hereto as Exhibit A, to appear in the Star News, which is a newspaper of general circulation in the City, on November 27, 1999 to the effect that a public hearing would be held by the City Council on December 14, 1999, regarding the issuance ofthe Bonds by the Authority; and WHEREAS, on December 14, 1999, the City Council held said public hearing, at which time an opportunity was provided to present arguments both for and against the issuance of the Bonds. NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Chula Vista, as follows: Section I. The City Council does hereby find and declare that the above recitals are true and Resolution No. 19725 Page 2 Section 2. Pursuant to Section 147(0 of the Code, the City Council hereby approves the issuance of the Bonds by the Authority in one or more series, in an aggregate principal amount not to exceed $8,000,000 and with a final maturity not later than 33 years from the date of issuance to finance the construction of the Project. It is the purpose and intent of the City Council that this Resolution constitutes approval of the issuance of the Bonds by the applicable elected representative of the governmental unit having jurisdiction over the area in which the Project is located, in accordance with said Section 147(f). Section 3. This Resolution shall take effect from and after its adoption. Presented by ~ C~ t4I / .~ Community Develop ent Director Approved as to form by ~x~~~\ lty Attorney PASSED, APPROVED, and ADOPTED by the City Council of the City ofChula vista, California, this 14th day of December, 1999, by the following vote: AYES: Councilmembers: Davis, Moot, Padilla, Salas, and Horton NAYS: Councilmembers: None ABSENT: Councilmembers: None ~~&JIL Mayor ATTEST: Susan ~e\o~ d~~ J f). STATE OF CALIFORNIA ) COUNTY OF SAN DIEGO ) CITY OF CHULA VISTA ) J I, Susan Bigelow, City Clerk of Chula Vista, California, do hereby certify that the foregoing Resolution No. 19725 was duly passed, approved, and adopted by the City Council at a regular meeting of the Chula Vista City Council held on the 14th day of December 1999. Executed this 22nd day of September 2005. c- ~j. D..l -:- r;;;(& Susan Bigelow, City Clerk e - Resolution No. 19725 Page 3 PROOF OF PUBLICATION (2015.5 C.C.P) STATE OF CALIFORNIA, County of San Diego: I am a citizen of the United States and a resident of the county aforesaid; I am over the age of eighteen years, and not a party to or interested in the above-entitled matter. I am the principal clerk of the printer of THE STAR NEWS, a newspaper of gerneral circulation, published ONCE WEEKLY in the city of Chula Vista and the South Bay Judicial District, county of San Diego, which newspaper has been adjudged a newspaper of general circulation by the Superior Court of the County of San Diego, State of California, under the date of April 23, 1951, Case Number 182529; that the notice, of which the annexed is a printed copy (set in type not smaller than nonpareil), has been published in each regular and entire issue of said newspaper and not in any supplement thereof on the following dates, to-wit: 11/27 all in the year 1999 I certify (or declare) under penalty of perjury that the foregoing is true and correct. Dated at Chula Vista, California 91910 this 1999. Signa~ur ,-. '- ' EXHIBIT A PRINCIPLE CLERK This space is for the County Clerk's filing stamp CV 13270 Proof of Publication of: Public Hearing PUBLIC NOTICE CITY Of CHULA VISTA NOTICE Of PUBUC HEARING REGARDING ISSUANCE Df MULTlf!IMlLY HOUSING REVENUE BONDS' NOTJCE IS HEREBY GIVEN that. at its nIOular meetino-~ to be held It 6:00 p.m. on : iuesclay. December .14, 1999. at the City Council . Chambers 01 the City of chula Vis1a located at 17S fourIh avenue, Chu~ Vis1J, California 91910. lhe City . Council of the CIty 01 Chula VISta will conductS a ~Iic hearing as' reQuirec1 by Secti0l1147(ij 01 I11e Inter. nal Revenue Code 011986. as amended. at w..Jictl it will .heafand coosiderinforma- tion concerning the is- suam:e by eit!lellhe City of Chula Vista (the "City'" Dr the Housing Autttority of "'. City 01 Chula VisIa (the "Au1!1ori1y")oIbOI1d$(111e "BondS") to finance a pro. posec1 muttdamily rental hOusing project of approxi- mately 150 units 10 be known as "Sa!t Creek ViI. las~ located on a size acre site immediately west oj the Olympic Training Cen. ter adjacent to Olympic Parkwo.y in the City of CtluIa Vista.. Calilornia (the "Project"). The Project is 10 be owned and/or operated by Chelsea Investment Cof- poration, a Calilomia cor- poration, or one of itsaffili- ales. The City or the Auth. amy proposes 10 issue the Bonds in an aggreoate principal amount not to ex. _ $8,000,000. -AJIeasI2Ppen:enlollhe rental units in"the Project are I1ICfUIred to be available for occupancy by persons or flmilies whose income does nol_ SOpe<<:ent 0I1IIe _ Income for 1110 SaIl Diego, CaI~orn.. PrimaTYMelropolilallStl. tistical Area, or, aIternative- ~.at""'40""",ntolttle rental unitS are required to be avaJlobIe "" OCCIJIIIncy by peI'1ons Of families whose income does not ex. teed 60 percent of the me. dian income fOI the Area, in each case at affordal:1!e rents established by applic. able S1ate law. ALL PERSONS HAVING ANY INFORMATION RELE. VANT TOT HE PROPOSED ISSUANCE OF THE BONDS DESCRIBED ABOVE ARE HEREBY INVITEe TO AP-' PEAR AT THE TIME AND PLACE MENTIONED ABOVE TO PIIESENT SUCH INFORMATION TO THE CITY COUNCIL ; fur lurther intormation. ! contact Juan AlTaye, Hous. ing Coon:linator ot the City, "(619) 585-5722.